On the heels of Friday's rally in the precious metals markets, commercial hedgers just went long the silver market for only the second time in history!
The post MAJOR ALERT: Only 2nd Time In History Commercials Go Long The Silver Market! appeared first on King World News.
If you have not yet read Part 1: These Are The Good Old Days , available free to all readers, please click here to read it first.There's no Plan B in the works. I’ve not read a single national strategy that incorporates the ideas of Peak Oil, Peak Net Energy, or how to transition from our current system of money and credit that's based on exponential expansion to one that does not require endless growth to function. And yet, we continue to consume the world's resources at an ever-increasing pace:
Notice the exponential 'hockey stick' shape. World population has more than doubled since 1950. And more than three-quarters of all the fossil fuels ever burned in human history have been consumed over that same time frame. Half of all the oil ever burned, has been burned in just the past 22 years. Now consider how this is a very temporary condition, but one that we humans have happily assumed is permanent. An intelligent response would be to immediately begin fashioning our lives and lifestyles around the energy reality. Work, eat, live, and play in a more localized fashion. Don’t build out and depend on 30,000+ mile supply chains. The smart path forward for each of us becomes clear when you...
The post Preparing For The Reckoning appeared first on Peak Prosperity.
Bill was 48 when his wife stunned him with a request for divorce. Right up until that moment, he’d thought everything was fine.
He’d been pouring all his energy into his work to provide a very comfortable life for his wife and 2 children. But she was unhappy and fell out of love while Bill wasn’t paying attention to matters at home. He’d taken her for granted and forgot to be present for the most important people in his life, and to be grateful in the moment.
After she was gone, Bill was filled with emptiness and regret. All he wanted was to get her back, but it was too late. The damage had been done. What he had before was now in the past.
This parable of Bill’s loss serves as a reminder to all of us that, with all that’s awry in the world, it’s all too easy for those of us who are paying attention to gripe about everything that’s going wrong.
Yes, there are many trends that are headed on the wrong trajectory. But this tumultuous period of history also affords each of us the fantastic opportunity to contribute positively to the new future that’s on the way.
Please take this article an invitation to be grateful for what you have, and to notice just how wonderful our current lifestyle truly is. It won’t remain this way, as I’ll expound on in a moment.
So take the time to be grateful, hug those that you love, and feed the parts of your life that nourish you most. Maintaining perspective in times such as these is really important.
The truth is that we happen to be alive at a time of peak abundance and technological miracles. It’s never been easier or more comfortable to be a human. On nearly every dimension — longevity, dependable access to food, quality of shelter, personal safety, leisure time, intellectual pursuits, technological advancements — no previous generation of humans have enjoyed the excesses and luxuries that we currently do.
What are you going to do with that good fortune while it lasts?
Once I truly understood the role of net energy in delivering the miraculous abundance we experience, and then connected that to the impending decline of global fossil fuels, I came to a startling conclusion: These are the “good old days”.
This is as good as it gets. This is as easy and wonderful as it’s ever been for the average human on earth. And we’re now at (actually, likely past) the peak. Soon, everyone will fondly reminisce about this soon-to-be-bygone era:
“Remember when you could just hop on a plane and go anywhere in the world for the cost of just a day or two of your income?”
“Or how about walking into a grocery store, anytime of the year, and buying whatever fresh veggies you wanted — at any time of the day or night, no matter what season it was? Remember that?”
Today’s daily miracle of life is insanely good. Simply click a mouse button and in just a day or two the big, brown truck of happiness rolls up your driveway delivering goodies. Or blythely sleep through a painless surgical procedure. Maybe use GPS to navigate the worst Boston commute as you smoothly glide in a well-engineered personal chariot with 150 horses under the hood.
Face it, we have it better than true royalty did just 100 years ago.
But it won’t last. It can’t. The flows of energy that are required to maintain the complexity of our current system simply aren’t there.
These energy systems which make our current global economy run are still 80% reliant on fossil fuels. So are our current alternative energy systems — which are are still mined, refined, built and installed using fossil fuels. There are exactly zero full-cycle alternative energy systems that can be rebuilt using their own energy output. As Nate Hagens wisely says: they are not really renewable energy systems, but replaceable energy systems.
We could and we should be doing things very differently here at this moment in human history. But we’re acting like we always have; ignoring problems up until the point things start breaking badly. This is simply insane with nearly 8 billion people on the planet (quickly heading towards 10 billion) and yet we have no comprehensive plan for weaning ourselves off of fossil fuels.
Looking out at the next 20 years is downright frightening.
By 2040, we’ll be well past the point of Peak Oil if this model is correct (which is running three scenarios based on how much oil there might be, low med, and high):
(Source)
The implications of oil’s inevitable and predictable decline are so profound that it’s a crime you’re only reading about it here and maybe one or two other “fringe” places on the net. Given its importance to everyone living on the planet today, it should be constant front page news everywhere.
Once we’re past peak production of oil, the entire suburban Ponzi experiment folds like a cheap card table, modern industrial agriculture becomes too expensive to continue, and the entirety of the financial system loses its motive power.
But, there’s no plan at all for addressing this. Not from any national government that I’ve seen. And I’ve been tracking this predicament for 15 years now.
Which brings me back to gratitude, which I think will be critical for dealing with the coming grief of losing our current comforts.
Having gratitude for what you do have is infinitely better for your mental well-being than worrying about what you don’t, or won’t, have. When I fly somewhere I’m grateful for the magical speed and ease of the technology. When I fill up my gas tank on my car, I’m grateful for the incredibly complex supply chains and financial systems that have to be in place for that to happen.
‘It’s not having what you want, it is wanting what you’ve got.’
~ Sheryl Crow
We really better appreciate all we have right now. Because our modern lifestyle just can’t last.
Bill made mistakes and now lives with regrets. Don’t be like Bill.
It’s perfectly clear that much of what we take for granted today is the product of multiple unsustainable systems all trundling towards the day when they fail.
We’re in ecological overshoot; which means the birds, bees and big game still around today may be extinct in our lifetime. And along with them, much of our food web.
Imagine the regret we’ll feel then.
We’re also in debt overshoot; which means that a future of economic austerity awaits as companies and households start to fail in large number. Whether the killing blow comes via deflation or inflation is academic at this point. The end result will be the same: less prosperity and opportunity for all — because we splurged today without thought for how we’d pay tomorrow’s bills when they arrived.
Imagine our regret then.
We’re burning through the last dregs of high-net energy oil. And we’re in population overshoot, too. Replacing that oil and feeding so many of ourselves will take energy — lots and lots of energy — but where will it come from? We don’t yet know at this point. And we’re not even yet admitting to ourselves that we have a problem. A big problem. So we’re highly likely to slam head-first into the biggest global ever energy crisis modern man has ever seen.
Imagine our regret when that day arrives.
While all this probably sounds depressing, it’s doesn’t have to be.
It’s just how things stand today. But there is still time to improve our destiny, at least, at the individual level.
Let this wake-up call become your invitation to bring your very best self to the game. You can either choose to be engaged in the reformation of life on this planet, or be carried along by the changes as they emerge (which will probably be far less enjoyable than the former option).
The true opportunity here is for each of us to appreciate that this is the one and only shot we’re going to get at life, as far as we know. So make of it what you can.
That’s the invitation.
Our ‘tribe’ here at Peak Prosperity is full of people actively engaged in answering this invitation by bringing their best selves. It really is community of high-achieving quality thinkers and doers unlike any other. I invite you to join us.
Together, we’re facing these multiple problems and predicaments head on, and using them as motivation to align ourselves and our actions with the world as it truly exists — not as we wish it were.
It’s not easy. But then again nothing worthwhile ever is.
In Part 2: we forecast what is most likely to happen next as the current policies in play begin failing. How few years left of status quo can we enjoy before the repercussions become too painful to ignore?
What can we each do today to improve our own destiny tomorrow?
At tipping points like now, our future is dependent on the steps we take in the present.
Click here to read Part 2 of this report (free executive summary, enrollment required for full access).
The post These Are The ‘Good Old Days’ appeared first on Peak Prosperity.
In the midst of the US and China Trade War, one of the greats in the business said, "Gold is back above $1,300 and I'm shocked it's not much higher."
The post “Gold Is Back Above $1,300 And I’m Shocked It’s Not Much Higher” appeared first on King World News.
This is Good News Friday, where we find some good economic, energy, and environmental news and share it with PP readers. Please send any positive news to dd@peakprosperity.com with subject header "Good News Friday." We will save and post weekly. Enjoy!
Complex life may only exist because of millions of years of groundwork by ancient fungi (jdargis)
The fungal fossils were found in rocks that were probably once part a shallow-water estuary. Such environments are typically great for fungi thanks to nutrient-rich waters and the build up of washed-up organic matter to feed on. The high salinity, high mineral and low oxygen content of these ancient coastal habitats also provided great conditions to perfectly preserve the tough chitin molecules embedded within fungal cell walls that otherwise would have decomposed.
National Spelling Bee, at a Loss for Words, Crowns 8 Co-Champions (jdargis)
None of the contestants faltered. They each got their own moment of triumph as they correctly spelled their words in the 20th round, then patiently sat back in their seats as the next contestant had their moment. They supported one another with high-fives and hugs, and each placed a hand on a single trophy.
The Hyperloop Concept Is Finally Growing Up (jdargis)
In those first few years after Elon Musk outlined, in remarkable detail, his vision for a new kind of transportation system that relied on sealed pods, depressurized tubes, and a magnetic levitation and propulsion system, Hyperloop One (now called Virgin Hyperloop One, or VHO), raced to the head of an emerging class of companies developing versions of the technology. Then-CEO Rob Lloyd announced that the company would be moving cargo by 2019 and people by 2021.
Zero emissions: Amsterdam is boldly getting rid of diesel and gas vehicles. (jdargis)
The importance of improving air quality has become imperative. “Pollution often is a silent killer and is one of the greatest health hazards in Amsterdam,” Amsterdam Traffic Councillor Sharon Dijksma said. The current levels of nitrogen dioxide and particle matter can cause repertory illnesses, as well as shorten life expectancy by more than a year. It turns out walking to work is good for your health in more ways than one.
First ever solar eclipse film brought back to life (jk)
Professor Mike Cruise, President of the Royal Astronomical Society said: “It’s wonderful to see events from our scientific past brought back to life. Astronomers are always keen to embrace new technology, and our forerunners a century ago were no exception. These scenes of a total solar eclipse – one of the most spectacular sights in astronomy – are a captivating glimpse of Victorian science in action.”
Hope in a Changing Climate – by John D. Liu (Adam)
Hope in a Changing Climate optimistically reframes the debate on global warming. Illustrating that large, decimated eco-systems can be restored, the BBC World documentary reveals success stories from Ethiopia, Rwanda and China which prove that bringing large areas back from environmental ruin is possible, and key to stabilising the earth’s climate, eradicating poverty and making sustainable agriculture a reality.
How to green the world’s deserts and reverse climate change | Allan Savory (Adam)
“Desertification is a fancy word for land that is turning to desert,” begins Allan Savory in this quietly powerful talk. And terrifyingly, it’s happening to about two-thirds of the world’s grasslands, accelerating climate change and causing traditional grazing societies to descend into social chaos. Savory has devoted his life to stopping it. He now believes — and his work so far shows — that a surprising factor can protect grasslands and even reclaim degraded land that was once desert.
From ridicule to hero: The history of the eco-warrior (ZWW)
“The real wealth of the Nation lies in the resources of the earth — soil, water, forests, minerals, and wildlife,” she wrote in a 1953 letter to the Washington Post. “To utilise them for present needs while insuring their preservation for future generations requires a delicately balanced and continuing program, based on the most extensive research.”
Click to read the PM Daily Market Commentary: 5/30/19
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
The post Daily Digest 5/31 – Good News Friday: Hope In A Changing Climate, Amsterdam Getting Rid Of Diesel & Gas Vehicles appeared first on Peak Prosperity.
Episode #6 of our webinar series on real estate investing airs live this Saturday June 1 at noon ET.
It will be the final structured presentation of this series. (There will be a subsequent Episode #7, but that will be fully dedicated to open audience Q&A)
Episode #6, titled Putting It All Together In The Real World, will be led by Russell Gray, who did an excellent job walking us through the key calculations and industry metrics that were discussed Episodes 3 and 4.
In this coming episode, Russ will share several strategies used by more advanced real estate investors to increase their financial returns, protect their privacy, and boost their quality of life. Specifically, he’ll discuss:
If you haven’t already, be sure to sign up for this concluding presentation in our webinar series on real estate investing.
And don’t worry if you can’t make the event when it airs live. As with each of our previous episodes in this series, a replay video of the full event will be sent within a few hours of the webinar’s conclusion to everyone who registered.
To register, simply click the button here:
If you haven’t been watching this excellent instructional series on successful real estate investing, it’s easy to get caught up.
Simply click on any of the links below:
Episode #1 is available to watch for free. All subsequent episodes cost $50 each (an absolute steal given how much you would pay to attend a similar progression of live seminars)
As we’ve frequently mentioned throughout this series, now may not be the right time to buy real estate in many markets given their current high valuations. But now is the time to get educated on the process, to start targeting your prospects, to start arranging your financing options, and to start recruiting your team of expert advisors — so that when the next downturn occurs (and many regional housing markets are showing clear signs of nosing over), you’ll be positioned to act.
And if you don’t have much capital of your own to deploy, there are still creative ways by which you can become a successful real estate investor. Here’s what Robert Helms had to say when asked about that during Episode #5:
If you haven’t been watching this webinar series, you’ve been missing out on graduate-level instruction in a key area of wealth-building.
Again, our goal here to educate you so that you can identify opportunity and be positioned to act on it. Whether you ultimately decide to act sooner or later, be sure to get yourself educated now.
The post Advanced Strategies For Real Estate Investing appeared first on Peak Prosperity.
from Financial Survival Network
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from Financial Survival Network
David Morgan is back… It’s no secret that silver has been in the dumps for 8 years now. But David Morgan and myself are undeterred. The fiscal irresponsibility, profligate spending, dire world economics and so much more, leads one to the conclusion that an insurance policy is necessary. And precious metals always have been exactly that. And select miners are truly killing it. But it’s going to take a catalyst to send prices forward. Or as David says, “Two black swans crashing into each other.”
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from Financial Survival Network
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Transcript
Kerry Lutz: Welcome. You are listening to The Financial Survival Network. I’m Kerry Lutz. You know we love to showcase companies, sponsor companies that have amazing prospects, that are amazing values especially in this depressed resource sector. One of these companies is Trilogy Metals, which is a little bit of a misnomer but you’ll understand why in a little bit. Trilogy is a company that is getting things done. So often in the resource sector viable projects, for reasons of financing, regulation, first nations issues, indigenous peoples, ecological issues, they get tied up for decades literally. This is probably the biggest crime because true wealth is created from the earth, it’s extracted from the earth and you just have to look at history to understand that. This company, Trilogy Metals Inc., it’s on the NYSE, the New York Stock Exchange and it’s under the symbol TMQ. You’ll also find it under the TSX. TMQ right now it’s trading in the mid $2 range.
Kerry Lutz: Found out about this company a while ago when I was at PDAC, that’s the show in Toronto, the show of shows. Trilogy had by far one of the best stories there, they had a virtual reality display showing the magnitude of their deposit, the extent of their project. It was amazing. Without further ado, I’m going to bring Patrick Donnelly on. Pat, you’re Vice President Corporate Communications and Development. You shouldn’t be fooled by Pat’s title, I mean you started your career 25 years ago as a project geologist exploring for precious and base metals, diamonds in western and northern Canada. I should mention, this project is in Alaska and when you think Alaska you think cold, and definitely here. Pat, it’s great to have you back on. This must be an extremely exciting time to be involved with a company like Trilogy.
Patrick D.: Yeah, absolutely. Thanks, Kerry, for having me on. I keep telling people the stars have aligned. What I mean by that is copper fundamentals are very, very, very strong. We’re in a great jurisdiction in Alaska, great support from the Governor and great support from the US federal government. Fantastic relationships with the indigenous peoples, and great support from one of our partners, South 32, which is a multi-billion dollar Australian company. Not to mention, we have a fantastic asset that has some of the highest grades in the world.
Kerry Lutz: I was recently saw you do a presentation. You were down here in my neck of the woods in south Florida. There was a group, I’d say about 60, 70 very sophisticated investors. When you told them Trilogy doesn’t need any money, we’re not looking to raise capital. We’re looking to raise awareness of the opportunity because the market does not accurately express the value of the company. I swear to God, their jaws dropped, Pat. I mean, well wow, we don’t see anybody who doesn’t need money. They don’t usually come on this circuit. It was quite interesting the response.
Patrick D.: Yeah, I left the begging bowl back in Vancouver. It’s nice not to need money and you can focus on the business. We have $30 million in cash, US. All our warrants are in the money. We have over, I think six and a half million warrants that are set to expire in July and they’re all in the money so that will add another $10 million to our treasury. We’ve got a very ambitious $18.2 million budget this year for exploration work and permitting, and feasibility work at our projects in Alaska. Yeah, it’s nice to focus just on the company and tell people what we’re doing. Also mention, it’s nice that we’re listed in New York. Which brings a big sigh of relief to people because a lot of people don’t like trading on the TSX or the TSX venture or in the OTC. We’re a legitimate company on New York and also have some very sophisticated shareholders as big shareholders and that helps as well.
Kerry Lutz: Yes, absolutely. There’s two projects, two lead projects, you’ve got others of course. That’s Arctic and Bornite. Arctic is the one that’s moving ahead. You’re currently in the midst of getting a highway permitted. Can you just explain how that works?
Patrick D.: Yeah, I mean the projects we have, arctic and bornite were discovered decades ago. The issue has never been about whether they’re economic or not. They’ve always been economic, the issue has always been that they’re remote. Last five or six years now the Bureau of Land Management of the federal government has been moving forward to permit a 211 mile industrial road to the project. What that would do is link us up to the Dalton Highway. The Dalton Highway is the main highway that goes north south in Alaska, it connects the north slope oil and gas fields to Anchorage. The permitting development in this road is a critical catalyst for this company and the government, like I said, the US government, the BLM has been making incredible progress on getting this road permitted, which will be done by the end of this year.
Patrick D.: It will be a private road, it will be for industrial use only and the taxpayer will not have to pay a penny for this. This will be financed with a public, private partnership between Alaska Industrial Development Export Authority, which is a state infrastructure bank and ourselves. There will be a toll for the road and the toll will cover the maintenance cost, and the capital cost, and the interest for the debt finance, support the road. This has been done before. This is a model that’s been done before in Alaska. The Red Dog Mine, which is about 200 miles away from us, which is owned by NANA Corporation, which is a native corporation and operated by Tech Resources, which is $13 billion Canadian mining company. That mine was built i30 years ago and they needed a road and port. AIDA permitted and financed that road, raised debt in the private markets and the mine paid a toll in the road in the port. They paid it off a few years ago and now it generates around $20 million a year revenue for the state. That model’s been done before and it’s a model that we’re going to apply to the road that we need to support our project.
Kerry Lutz: Right. A 211 mile highway, that’s pretty substantial so I totally get the environmental aspects. All of this is moving ahead and you’ve got a pretty aggressive timetable, especially because you’re dealing with the government and you never know what’s going to happen. They seem determined, correct me if I’m wrong, to really get this thing going.
Patrick D.: Yeah. It’s funny, United States right now, unemployment is very, very low and there’s plenty of jobs in the lower 48. People don’t realize that Alaska is in a recession and that’s because historically Alaska is derived I think 80% to 90% of its revenues from the oil and gas industry. The amount of activity has slowed down considerably in the last few years. The governor of Alaska is adamant to diversify the economy of Alaska. One way is to support the mining industry and he’s very, very familiar with mining. His three daughters worked at the Red Dog Mine, which is the second largest zinc mine in the world. The governor lived in the area where we are for many years so he’s seen the positive benefits that mining has done for the region. It’s created a lot of jobs, it’s created a lot of revenues for the government and for the local peoples. He’s incredibly supportive.
Patrick D.: Also, I have to give a tip of the hat to the Trump administration in Washington. They truly are pro-business. They’re not cutting corners or anything, they’re just getting things done. Things are moving and it’s very, very refreshing to deal with a government that wants business, they want jobs, they want people, the local Joe’s to do well. Yeah, just an absolute pleasure to deal with governments that are very, very supportive. Like I said, they’re not cutting any corners, it’s just simply making sure that the process is moving along. Like I said, we’re going to have the permits for this road by the end of this year. It’s a big catalyst for the company. I don’t know any other jurisdiction right now globally that’s this efficient and this supportive of jobs and generating wealth for people.
Kerry Lutz: It’s pretty amazing and it’s 180 degree turn from the prior administration where one of the things that they were doing that was literally going to destroy the mining industry in the US and just drive out the miners was a requirement that once a mine was expended, obviously, there’s remediation and that’s the right thing, but you would have to monitor that mine for 30 years after it was sealed off, remediated, to make sure nothing happened. Once a mine is closed and it’s remediated, unless there’s water running through it, that’s it. Nothing is going to happen. Normally, in remediation you channel the water away from the expended mine so you don’t have ecological issues.
Patrick D.: Yeah. Nowadays, one you have to have a closure plan. It has to be very, very detailed and well engineered. Two, you got to put up a environmental bond up front so that … the funds have to be set aside up front to close or remediate the mine. To be completely up front with you, Kerry, in the past 20, 30 40, 50, 100 years ago mining companies were not good citizens. Usually when a mine got depleted, they just simply walked away. That’s not how things are done anymore. You have to have a closure plan and you have to have a bond. The closure costs for Arctic is over $60 million. That has to be set aside up front for the remediation closure and monitoring of the mine. Like I said, with the government, all we want is the process to move forward. We’re not asking to cut any corners. We have to abide by the rule log, which we will. Not just abide, but do everything above and beyond what’s required because the potential effects of mining longterm are significant. We have a partnership with the local native corporation, we have incredible support from the native peoples because they know that we’re doing everything to make sure that when this mine does shutdown one day that it will be remediated appropriately. Again, there’s funds set aside to deal with that.
Kerry Lutz: That’s definitely a good thing. Hey, let’s talk about the resource itself.
Patrick D.: Sure.
Kerry Lutz: Two projects, Ambler mining district. The first one is Arctic and Trilogy sounded good at the time I’m sure because there were three basic metals you expected there. As it turns out, you’ve got like five metals in that one alone.
Patrick D.: Yeah. Arctic is what’s called volcanic sulfide deposit. It was formed on an ancient sea floor. These kind of deposits, the nice thing about them is they’re poly metallic. In the case of Arctic, as you alluded to, it contains over 2% copper, 6% zinc, plus lead. Then it’s got quite a bit of precious metals in there as well. It has about I think it’s half a gram gold and an ounce silver. The beauty is when you do a copper equivalent grade it’s 5% copper equivalent. It’s a very, very high grade rich mine. What’s nice is the precious metals there it gives you optionality. There’s historically been an inverse relationship between copper and gold prices so even copper prices go down, well then gold prices are most likely to go up so that’s the beauty of this thing. It also gives you financing options as well. This mine’s going to generate 160 million pounds of copper, 200 million pounds of zinc, and 30 thousand ounces of gold, and over 3 million ounces of silver and yet the precious metal revenue is only costing you about 12% of the potential revenue. You can do some of the precious metals, you can sell them forward to help finance the project. It’s really nice because of the precious metal credits, if you use them in the cost your average cast cost is 15 cents a pound of copper.
Kerry Lutz: Wow.
Patrick D.: Right now copper’s been under a little bit of precious because of what’s going on between US government and China. That being said, even a $2 copper, this thing makes a lot of money. That’s what’s unusual about this project and that’s why it’s unique and there’s very few projects in the world, if any now, that have these kind of grades and economics.
Kerry Lutz: Very few. I should mention that as of today copper is trading at about 2.65, 2.66 per pound so it’s still profitable even at that price. In all likelihood there’s not a lot of major new sources of copper coming on board. Over the years of this mine’s life, it’s highly likely that copper prices will increase.
Patrick D.: Oh, the copper fundamentals are very, very strong. Just for example, mining companies have not been putting money back into the ground. Just for example, Codelco, which is the world’s largest copper company. It’s owned by the Chilean government and it produces about 9% of the world’s supply of copper. They’ve got to spend $3 to $4 billion a year just to maintain the production profile because their grades are going down, their projects are getting deeper. Two of their biggest projects are transitioning to underground. The fundamentals are very, very strong. This year alone, even if there’s tepid demand, we’re still supposed to go into a deficit. In the next five or six years, we’re going to see a real supply side crunch. The fundamentals are very, very strong. I don’t think people realize that a modern society is highly dependent on copper. People think a lot about oil and petroleum but don’t realize that everything we use in society requires copper. Average car is 50 pounds of copper, average house is 200 pounds of copper, computers, cell phones, dishwashers, toasters.
Kerry Lutz: Everything.
Patrick D.: Everything we use is copper. Now with the threat of global warming and the move to electrical vehicles, copper’s going to become even more critical. Average electric vehicle is 200 pounds of copper.
Kerry Lutz: I know.
Patrick D.: We’re moving into what I would call is a renaissance for copper and a copper future. There’s no substitutes for copper either. Right now is a perfect time to get in as you said. Coppers at $2.65. Once we get over this thing with China, copper’s going to move really nicely and we’re going to see $4 copper in the next couple years.
Kerry Lutz: As we know, aluminum is not a substitute for copper wiring in a home.
Patrick D.: No.
Kerry Lutz: It doesn’t have the conductivity and there’s all sorts of problems with it, as we found out in the past. Hey, not to mention, so looking over at Bornite. We’ve got six million pounds of copper and 77 million pounds of cobalt. Another metal in very tight supply that is essential to electric vehicles.
Patrick D.: Yeah. What people don’t realize is most of the world’s copper comes from the Congo. There’s no other supply of copper, I mean sorry, cobalt in the United States. This would be the only cobalt mine in the United States. There’s some cobalt in Canada. The vast majority of it comes from Russia and the Democratic Republic of Congo. Cobalt’s now been designated as a critical metal by the United States government. Lisa Murcowski, the Senator from Alaska has just put forward a Bill to designate cobalt and a few other metals as critical metals, and strategic metals. Cobalt is used in batteries, obviously, it’s also used in specialty steels. Many of these specialty steels are used of military applications as well. Yeah, we’ve got 77 million pounds of cobalt at Bornite. We have six billion pounds of copper at Bornite, and growing. We’ve done some work on cobalt and we’ll continue with that to see if we can produce a saleable product. As you said, again, this is a strategic metal and strategic for the United States.
Kerry Lutz: So let’s talk about Trilogy’s team.
Patrick D.: Sure.
Kerry Lutz: Obviously, you’re on it, which is a good sign. What about the team? This is a very complicated project, time consuming, and to have one of these projects come to fruition in your lifetime is an amazing thing. To see multiple ones is really an accomplishment.
Patrick D.: Yeah, Kerry, one thing I’ve learned, I was also a mining analyst for a while, picking equities and doing analysis. When I’ve been in this business for, I don’t know, 25 years now, I was a geologist, or an analyst, or on the corporate side and one thing I’ve learned is when you’re trying to … there’s thousands of junior mining companies out there and when you’re trying to separate the weed from the chaff the first thing I look for is management. I’ve seen bad management ruin good projects. Also, as you’re fully well aware, mining is a complicated industry and I’ll even go as far as to say probably the most risky industry out there. Because of that, it just makes management even more critical. Our President, CEO, Rick Van Nieuwenhuyse is one of the best in the business. He wears a lot of hats. He’s an Alaskan, he’s from there, he grew up there and he’s plugged in. He knows all the stakeholders, he’s got a home in Fairbanks. That’s how much time he’s up there. He’s plugged in, he does a fantastic job with his relationship with the indigenous groups. You’ve got to have indigenous support anywhere to build a project and he knows who the leaders are and he develops close relationships with them. Rick was also incredibly technical, he’s a geologist. He’s been doing this 40 years now and just very strong technically. He’s done this before, he turned Nova gold from nothing into a multi billion dollar gold company. Again, he’s our leader, he’s the one that’s leading the charge and he’s assembled a really strong team. We’ve got Elaine Sanders, our CFO. Her and Rick have been working together for close to 20 years. You need a strong CFO in place to move projects forward. Bob Jacko our VP of Engineering, he built the Red Dog mine and was the general manager there. He knows the area, he’s built mines in that jurisdiction and that climate. He knows Alaska well. You need, again, strong technical people.
Patrick D.: Then the rest are Andy West, again, he’s an Alaskan. Lives in Juneau, worked in the Greens Creek mine. He’s our senior geologist and he’s been doing this for 30 years as well. Cal Craig does our environmental work. Then obviously, we have great support from the people of Alaska. Last summer we had 70 people working at our project and 70% of them were indigenous. They were incredibly supportive and productive with our project. Yeah, we’ve got a great team, I feel very fortunate to work with these people. They’re highly competent, they’re highly professional, and they know how to work up in Alaska. I always tease Rick, I call him Mr. Alaska. He really is because he knows the Governor personally, he knows all the movers and shakers in Alaska personally, the indigenous groups, and that helps. You see a lot of mining companies in Alaska run by outsiders, but he’s not. He’s an insider, he’s from there, he’s a good old boy from Alaska and that helps.
Kerry Lutz: A definite plus. I guess we should talk about the relationship with South 32, where you’re going in the future with them. Aside from the fact that you’ve got a large institutional holding, including management, it’s over 65% so there’s not a lot of float in this stock. The South 32 relationship, really important.
Patrick D.: Absolutely. They’ve been absolutely fantastic to work with and it’s a really solid relationship. Just for your audience, they’re a $13 billion Australian mining company. They were spun out of BHP Billiton a few years ago. Their assets are in Southern African and Australia in base metals. They have manganese, nickel, coal, aluminum, zinc, and nickel. They don’t have any copper assets so what drew them to us is the fact that we have one of the highest grade, highest quality copper assets in the world and also, they like Alaska. They want to get away from Southern Africa and go to jurisdictions where the rule of law prevails like the United States. We have an option agreement with them, formed a joint venture. They had to pay us $10 million a year for three years for a total of $30 million, which they’ve done already.
Patrick D.: Now, to maintain the option and the option itself is the right to form a joint venture, a 50/50 joint venture. If they exercise that, they have to put another $150 million US into the joint venture company. They have to do that by the end of January next year. We fully expect they will do that and it’s great having a big company standing behind you. It gives you credibility, it gives the government and other stakeholders comfort that we’re building the road for permitting, financing building the road, and it gives us the operational experience and technical experience to build and operate the mines. They’ve been tremendous to deal with, it’s a very good relationships, they’re very, very competent and we feel very fortunate to have a partner like South 32.
Kerry Lutz: Yeah, hey, definitely blessed. There’s a good possibility that they’re going to commit the 150 million but even if they didn’t for whatever reason, that’s not going to leave the company out in the cold for very long, or if at all, is it?
Patrick D.: No, we’ve got other groups circling that want to get in the door. If they did walk away for whatever reason then they get nothing. They would’ve put the 30 million into the ground for us anyway and we’re well financed. We’re in a good position. Like I said, if they walk away, that’s actually not a bad thing. Like I said, we’ll have suitors lining up pretty quickly to replace them. Whatever way it goes, it’s all good for us. I don’t worry too much about that.
Kerry Lutz: Suitors lining up on better terms, too I’m sure. This is a lot different project than from when South 32 signed on.
Patrick D.: That’s a good point, Kerry. When this company originally signed the agreement with them we were at $60 million market cap. Now we’re around, our market cap now is almost $360 million US. We’re a lot different now than we were a few years ago.
Kerry Lutz: The projects are that much further along as well.
Patrick D.: Exactly.
Kerry Lutz: It’s all the more reason to expect them to go ahead. As I’ve learned, and I’m sure you’ve learned in life, until the ink is dry on the contract and the funds have been wired into your account, anything can happen. The odds are pretty good, sure. Hey, when we check back with you again say in the next couple of months, where do you think we’ll be? The road will be getting closer to fruition, won’t it?
Patrick D.: Yeah. This is a critical year for us and I think the next two big catalyst at least in the next couple months are one, the government issuing the draft environmental mpact statement. That’s a big catalyst. As I alluded to before, we have a $18.2 million program this summer. We’re going to put $9 million into Bornite of the in field expansion drilling. We’re also going to put in another seven million into Arctic for permitting and feasibility study work. Then we’re also spending another $2 million exploring the rest of the Ambler Belt. The focus has always been on exclusively Arctic and Bornite but we had dozens of other deposits that we haven’t even touched on the rest of the Ambler Belt. We’re going to drill some of those and get some noise, and show it to the market that we don’t just own two mining projects, we own a whole mining jurisdiction, mining district. The Iberian Pyrite Belt in Spain, similar geology, similar type of deposits, that’s been mining since the Romans and it’s still being mined.
Kerry Lutz: Wow.
Patrick D.: We want to demonstrate to the market what we really have and why companies like South 32 are really, really interested in the story. Lots of news and then end of the year or by the end of October the final environmental impact statement should be filed. Then shortly thereafter, a month or so after or by the end of the year we’ll have the record decision and the 44 permit. This year is a big year for the company.
Kerry Lutz: Big year.
Patrick D.: Obviously, South 32 has until the end of January next year to exercise their option. This is a big, big year this year, lots of catalysts. Right now is a great opportunity for shareholders or potential shareholders to get in and do well. I don’t know any other story like it right now.
Kerry Lutz: There isn’t. There really isn’t. Having looked at hundreds of different companies at PDAC, you’re one of the top three stories for sure and your virtual reality demonstration at your booth was pretty impressive, I’ve got to say. One thing is, there’s only seven months now, actually six and a half months between … you’ve got seven months between January and now. As that time goes by, and as more happens in the company, obviously you can predict the price of the stock. I mean, that’s the ultimate forward looking statement that nobody’s prepared to make, but it’s not unreasonable to expect that as that deadline gets closer price is going to go up. They could pull the trigger at any time. They don’t have to wait until January of next year.
Patrick D.: Absolutely, absolutely. I wouldn’t wait until then. There’s going to be lots of opportunities to get in and we’re seeing this trade war with China right now and there will be days where like the rest of the markets we may see some pressure. That’s an opportunity to get in. I went in last December, we saw the markets really pull back, including us. We really pulled back and that’s when I came in. I started buying as many shares as I could. I’m getting ready to buy some more. I think this summer’s a great opportunity to get shares. Typically, the markets are quieter and it’s a great time to load up. Yeah, don’t wait until January. I would load up ASAP.
Kerry Lutz: Hey, no better endorsement than when the insiders are buying the stock. As they say on the street, there’s many reasons why insiders could be selling a stock. There’s generally only one reason why they buy. We’ll leave that to your imagination. Pat, it’s been great talking to you and catching up on what’s going on with Trilogy. I should mention yet again that the company is traded on the New York Stock Exchange and on the TSX under the ticker symbol TMQ. Last time I looked, it was trading at US dollars 2.67 per share and around 3.58 Canadian. That will fluctuate so that was about a couple of hours ago. The stock chart, which you really should take a look at where you’ve seen these resource stocks just starting from the left side and going down to the right, this stock has done the opposite. It’s been going up solidly for the past two years with pullbacks, of course, because that’s what happens in the market. It’s been going up pretty steadily and if the trend continues, and don’t forget, the trend is your friend at least until the end. It could very well keep climbing.
Kerry Lutz: Anyway, check out the website because that’s where you’re going to get the most up to date information. That is, trilogymetals.com. Make sure you take a look at that, there will be a link to that in the show notes to this interview. Patrick, it’s always great to talk to you. Sounds like exciting times and wish you the best of luck. We’ll talk to you again real soon.
Patrick D.: Thanks a lot, Kerry. Good talking to you.
from Financial Survival Network
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As we approach the end of trading in the month of May, today the top trends forecaster in the world, Gerald Celente, discussed gold as well as US interest rates coming down and also addressed the possibility of recession.
The post Celente – Gold, Interest Rates Plunging And Why The $250 Trillion Global Debt Bubble Will Continue Inflating appeared first on King World News.
The post Off The Cuff: Why Currency Crisis Is The Real Risk Here appeared first on Peak Prosperity.
China Gears Up to Weaponize Rare Earths in Trade War (tmn)
A flurry of Chinese media reports on Wednesday, including an editorial in the flagship newspaper of the Communist Party, raised the prospect of Beijing cutting exports of the commodities that are critical in defense, energy, electronics and automobile sectors. The world’s biggest producer, China supplies about 80% of U.S. imports of rare earths, which are used in a host of applications from smartphones to electric vehicles and wind turbines.
A Million People Could Lose Their Pensions If Congress Doesn’t Act (edelinski)
Brown’s is what’s known as a multiemployer pension plan. Anywhere from a handful to hundreds of companies contribute funds to these plans on behalf of their workers, with payments negotiated through union contracts. The plans are common in the construction, transportation and service sectors, providing a portable benefit in cyclical industries where workers frequently change jobs. But many plans have run into trouble, losing their stream of income, as industries change and unionized employers go out of business.
Dressbarn, CVS, Pier 1 and Topshop shuttering stores, pushing planned closures to 7,150 (Thomas R.)
The store closures already announced this year also mean more bad news for U.S. mall owners, which have already been struggling with traffic to department stores, their anchor tenants, largely on the demise. So these mall owners are having to get creative, bringing in more food options, and even apartments and office spaces, to their properties.
After Destroying Brick and Mortars, Amazon Reportedly Planning to Cut Ties With Thousands of Small Vendors (Thomas R.)
Because Amazon controls a huge chunk of market share, the company wields immense power over the sellers on its platform—everything from reportedly pushing brands to change their packaging to dictating which brands can and cannot advertise their products on its platform. Citing sources familiar with the matter, Bloomberg reported that smaller vendors that are currently turning around less than $10 million in sales will now no longer receive bulk orders from the company.
From Colombia, Venezuelan defectors arm themselves to ‘liberate’ their homeland (thc0655)
A Colombian intelligence official, who asked not to be identified, said the intelligence service had detected an unspecified number of Venezuelan militia groups in the country but could not act against them because they had not yet committed any crimes. Separately, a high-level Colombian government official who asked not to be named said arrestable offences could include illegal possession of weapons and conspiracy to commit a crime.
In Venezuela, criminals feel the pinch of an economic crisis (Sparky1)
In something of an unexpected silver lining to the country’s all-consuming economic crunch, experts say armed assaults and killings are plummeting in one of the world’s most violent nations. At the Venezuelan Observatory of Violence, a Caracas-based nonprofit group, researchers estimate homicides have plunged up to 20% over the last three years based on tallies from media clippings and sources at local morgues.
Silver – Eight Years Later (GE Christenson)
Over the long term, nominal prices for stocks, commodities, crude oil, gold and silver rise. The primary driver is currency unit devaluation. That new Ford truck which cost $2,500 fifty years ago now costs $50,000. The dollar of 1913 is now a mini-dollar in purchasing power.
Serbian troops on full alert after Kosovo police arrests (Sparky1)
Serbian President Aleksandar Vucic said Kosovo police arrested 23 people, including Serbs, Bosnians and a Russian, after “bursting” into several northern villages and the town of Mitrovica with armored vehicles. Vucic said he had seen video of the police firing “live ammunition” over the heads of unarmed Serbs, and said the operation was designed to intimidate minority Serbs in Kosovo, whose population is mostly ethnic Albanians.
Miliband: Ebola situation is getting worse (Sparky1)
International Rescue Committee Chief Executive David Miliband speaks with Christiane Amanpour about the Ebola outbreak in the Democratic Republic of Congo.
Globalists Only Need One More Major Event To Finish Sabotaging The Economy (thc0655)
War with Iran at this time makes no sense whatsoever unless you look at it from a globalist perspective. The globalists are the only group that stands to gain from such catastrophe, as war with Iran would seal the fate of the US economy. The most immediate threat would be the potential shutdown of the Straight of Hormuz by Iran, which would take nothing more than sinking a few large cargo vessels along the narrow and more shallow portions of the straight, placing mine fields, or staging anti-ship missiles within striking range. The subsequent explosion in oil prices would be devastating to the global economy and the US economy would struggle under high energy prices even with expanded domestic oil drilling.
In Rural West Texas, Illegal Border Crossings Are Routine For U.S. Citizens (tmn)
If you are in Texas and get sick or have an accident, you can walk across the river — using ropes to cross above the water — to a clinic in San Antonio del Bravo where treatment and medicine are free, paid for by the Mexican government even if you’re a U.S. citizen. In the U.S., the nearest hospital is a long drive away in Alpine, Texas.
“A 10-minute walk versus three hours to the hospital,” Tellez said, detailing her options.
South Sudan struggles to increase oil production after war (Sparky1)
Earlier this month President Salva Kiir confirmed plans to allot 30,000 barrels of oil per day to fund a road construction project signed with China’s state-owned Shandong Hi-Speed Group. Instead of putting the oil money into South Sudan’s Central Bank, as stipulated by last year’s peace deal, the money is being deposited into a “special fund” in China to make the transfers easier, Information Minister Michael Makuei told the AP.
IEA rings alarm bell on phasing out nuclear energy (Thomas R.)
Over the past 20 years, wind and solar capacity has increased by 580 gigawatt GW in advanced economies. Despite that, however, IEA estimates that the 36 percent share of clean energy sources in global power supply in 2018 was the same as two decades ago because of the decline in nuclear.
Crop Catastrophe In The Midwest – Latest USDA Crop Progress Report Indicates That A Nightmare Scenario Is Upon Us (yogmonster)
Last year, 53 percent of all soybean acreage had been planted by now. This year, that number has fallen to 19 percent.
And the percentage of soybeans that have emerged from the ground is just 5 percent compared to 24 percent at this time last year.
Click to read the PM Daily Market Commentary: 5/29/19
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
The post Daily Digest 5/30 – Crop Catastrophe In The Midwest, Amazon To Cut Ties With Many Small Vendors appeared first on Peak Prosperity.
from Financial Survival Network
Tax expert Jeff Socha returns… The Fed has missed on inflation for so many years. Jeff believes that inflation has been higher than stated and expected for many years. This has had a profound effect upon workers and the economy. There’s a difference between increased output and actual higher prices. It’s hard to raise rates when the economy is contracting, but when there’s an expansion it’s much easier to raise them. Pricing strategy shows up, such as increasing one’s price until meeting resistance. Eventually the economy will turn and the rate will decline.
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On the heels of the recent turmoil in global markets, this remarkable chart tells you all you need to know about the gold market.
The post This Remarkable Chart Tells You All You Need To Know About The Gold Market Right Now appeared first on King World News.
Rick Rule, president and CEO of Sprott US Holdings, provides his insights on today’s junior resource market and the opportunities available to speculators. Rick shares about three places where he is investing his money right now, and also discusses how Sprott approaches providing both debt and equity financing to companies. Furthermore, Rick gives an overview of the upcoming Sprott Natural Resource Symposium, which will be held from July 29th to August 2nd in downtown Vancouver.
Click the link to see the full conference agenda and line up of speakers for the 2019 Sprott Natural Resource Symposium: http://www.cvent.com/d/8gqxxq?RefID=mse19
Click Here to Listen to the Audio
0:05 Introduction
1:32 Significance of St. Barbara’s buyout of Atlantic Gold Corp
5:04 Three places Rick Rule is currently investing his money
10:30 US-China trade war and where speculators might profit as a result
14:25 Is Section 232 bullish for commodities other than uranium?
16:54 Discussing why and when Sprott provides capital to companies
20:28 How Rick Rule approaches investing in late-stage development plays
25:02 Overview of the 2019 Sprott Natural Resource Symposium
Continue Reading at MiningStockEducation.com…
One European analyst says that despite the recent pullback, the tables might soon be turning in favor of gold.
The post European Analyst – Despite Recent Pullback, The Tables Might Soon Be Turning In Favor Of Gold appeared first on King World News.
Illinois to ask residents to vote on how income tax is levied on 2020 ballot (Saxplayer00o1)
Pritzker, who proposed the graduated tax plan as a way to help address a $133.5 billion unfunded pension liability and fund critical state services, said the amendment would create a more balanced income tax system.
China’s First Bank Seizure Since 1998 Shows Hidden Loan Risk (Saxplayer00o1)
Some banks are now getting squeezed as Chinese companies default at a record pace and financing costs for shadow-lending activities increase.
As part of the government clampdown, banks have been forced to reclassify loans overdue for more than 90 days as non-performing, a move that led to a record surge in soured debt and wiped out capital at some small lenders.
China showing signs similar to Japanese housing bubble that led to its ‘lost decades’, expert warns (Saxplayer00o1)
The increase has also lifted the housing price to income ratio sharply from 5.6 in 1996 to 7.6 in 2013, well above the Japanese rate of 3.0 at its peak in 1988. The price to income ratio is the basic affordability measure for housing.
EU likely to start disciplinary steps vs Italy in June over debt (Saxplayer00o1)
But latest statistics data on 2018 and Commission forecasts for 2019 and 2020 show that Italy’s debt rose from 131.4% of GDP in 2017 to 132.2% in 2018 and will go up to 133.7% this year and to 135.2% in 2020.
Lost Decade Specter Haunts Latin America as Big Economies Falter (Saxplayer00o1)
The region, still struggling to cope with the end of the commodities boom, has expanded only 0.7% a year on average during the past few years. That’s hardly enough to keep up with population growth, meaning that people are poorer today than they were in 2012, according to the International Monetary Fund. Now its biggest economies — Brazil, Mexico and Argentina — have contracted simultaneously for the second time in just over three years, causing yet another headache for policy makers.
Americans are old and having fewer kids. That’s a huge risk to the economy (Thomas R.)
Kelly said that the combination of retiring boomers and a shortage of working-age Americans creates a problem that “is particularly awkward for the economy.” He added that this trend should “persist throughout the 2020s.”
That’s why Kelly advises that the United States “should probably be having a serious conversation about temporarily boosting, rather than reducing, immigration, at least while the baby boom is retiring.”
DoubleLine holds a high level financial discussion on where the economy is heading with CEO of Quill Intelligence, Danielle DiMartino Booth and CEO of DoubleLine, Jeffrey Gundlach at the Rockefeller Center’s Rainbow Room in New York.
Eliminating Free Speech The Smart Way (thc0655)
Back in the early part of the twentieth century, the Bolsheviks did a wonderful job of eliminating the existence of views that opposed collectivism, through the use of concentration camps and execution. Later in the century, the Nazi (abbreviation for Nationalsozialistische, or National Socialist Party) also did a bang-up job of disappearing dissent against their rhetoric.
‘American Soil’ Is Increasingly Foreign Owned (Thomas R.)
It’s likely that even more American land will end up in foreign hands, especially in states with no restrictions on ownership. With the median age of U.S. farmers at 55, many face retirement with no prospect of family members willing to take over. The National Young Farmers Coalition anticipates that two-thirds of the nation’s farmland will change hands in the next few decades.
GM plans own large EV charging network in the US, can’t be bothered to invest in it itself (Thomas R.)
If GM is really convinced that electric vehicles are the future, as they have often been stating over the past few years, why wouldn’t they be willing to invest their own money in the project?
In an all-electric future, charging will be a big and profitable business. If you plan to make that future happen, why wouldn’t you want a piece of that pie?
By Crashing Walmart Meeting, Sanders Provides Preview Of Socialism Under His Watch (thc0655)
Intruding on a Walmart meeting uninvited would be just the beginning for Sanders if he were elected president in 2020. His time in the White House would be marked by many more unfriendly visits to private businesses. Sanders has been watching how socialists regimes across the world behave, and he’s learned from his comrades.
Electric truck maker and prospective GM plant buyer Workhorse ‘barely hanging on,’ report says (Thomas R.)
Even getting to that point might be tough, however, as the Times notes that in a recent filing, “Workhorse said it needed $22 million to make vehicles for UPS, DHL and other customers.”
Workhorse has received a $35 million line of credit for Marathon, however, which should give the company some time, and should cover for those orders.
Last male Sumatran rhino in Malaysia dies, eliminating chance of saving the species in the country (Sparky1)
On Sunday, Tam was “nearing the end,” according to BORA, adding that all caretakers could do was look after him and keep him comfortable. Tam died on Monday at about 35 years old.
Click to read the PM Daily Market Commentary: 5/28/19
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
The post Daily Digest 5/29 – Big Economies Falter In Latin America, ‘American Soil’ Increasingly Foreign Owned appeared first on Peak Prosperity.
