As we get ready to kickoff trading in the final month of 2019, Alasdair Macleod is focused on these important developments that are unfolding in the gold market.
The post Alasdair Macleod – Important Developments Are Unfolding In The Gold Market appeared first on King World News.
John Rubino: Banks Near The End Of Their Rope (pinecarr)
With civil unrest going global, one seasoned analyst suggests that banks, central banks, and governments may be near the end of their rope, and poised to pivot to a survival strategy.
Jeffrey Epstein, Blackmail and a Lucrative ‘Hot List’ (tmn)
Mr. Boies and Mr. Pottinger discussed a plan. They could use the supposed footage in litigation or to try to reach deals with men who appeared in it, with money flowing into a charitable foundation. In encrypted chats with Kessler, Mr. Pottinger referred to a roster of potential targets as the “hot list.” He described hypothetical plans in which the lawyers would pocket up to 40 percent of the settlements and could extract money from wealthy men by flipping from representing victims to representing their alleged abusers.
Rise Of The Superbugs: Bacteria Are Outsmarting Humans. Will They Eventually Kill Us All? (Don R.)
Earlier this year, the World Health Organization (WHO) warned that by the year 2050, 10 million people worldwide could die each year from antibiotic-resistant bacteria. Currently, the WHO estimates that 700,000 people globally die from infection with drug-resistant microbes every year. At that point, these “superbugs” will have surpassed cancer, heart disease, and diabetes to become the main cause of death in the human race.
Fertility Rate in U.S. Hit a Record Low in 2018 (thc0655)
He noted that more than half of women who had children in their late 30s last year had college degrees, according to the new data — a much larger proportion than among women who had children in their late 20s.
That could be a clue that deeper social forces are at work. A generation of millennial women appears to be delaying having children even longer than Gen X women and Baby Boomers did, to get on a firm footing professionally and financially before starting a family.
Change in Human Social Behavior in Response to a Common Vaccine (newsbuoy)
These results show that there is an immediate active behavioral response to infection before the expected onset of symptoms or sickness behavior. Although the adaptive significance of this finding awaits further investigation, we anticipate it will advance ecological and evolutionary understanding of human-pathogen interactions, and will have implications for infectious disease epidemiology and prevention.
With their closure comes a new challenge — finding a permanent nuclear graveyard by the government’s 2031 deadline.
Germany’s Ministry for Economic Affairs and Energy says it aims to find a final repository for highly radioactive waste “which offers the best possible safety and security for a period of a million years.”
We’re Falling Short: Climate Report Grim (Doug)
“There is no sign of a slowdown, let alone a decline, in greenhouse gases concentration in the atmosphere despite all the commitments under the Paris agreement,” said Petteri Taalas, secretary-general of the World Meteorological Organization.
“It is worth recalling that the last time the Earth experienced a comparable concentration of CO2 was 3 to 5 million years ago,” he added. “Back then, the temperature was 2 to 3°C warmer, and sea level was 10 to 20 meters higher than now.”
What to Eat When the Planet is Dying (Kara S.)
Our choices today aren’t just between an apple and a banana. They’re between wildly different systems of food production and distribution, with wildly different effects on our health and our environment. Berners-Lee notes that an apple picked from your garden may have effectively zero pollution (although there has to be at least a little bit, because in my experience if you don’t spray agricultural oil you ain’t gettin’ no apples, at least not in North Carolina).
Click to read the PM Daily Market Commentary: 1/11/19
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 11/30 – Banks Near The End Of Their Rope, U.S. Fertility Rate Hit Record Low in 2018 appeared first on Peak Prosperity.
Every week in our Off The Cuff Series, we interview expert minds on the premium side of PeakProsperity.com. These discussions are unscripted and informal, where my partner Chris Martenson and his guest react to recent macro developments and predict the likeliest repercussions.
Every once in while, when we have an exceptionally timely conversation, we’ll make it available to the public. And we’re doing that this week.
Chris caught petroleum geologist Art Berman right before he went on stage to deliver a presentation on the limitations of shale oil (his excellent slides can be found here). The world is finally starting to realize that the profit-making potential of this space was drastically over-hyped.
But more important, warns Art, is that the souring sentiment on shale oil is a reflection on the bigger challenge ahead of us: How we will power the world in a future of declining net energy?
When we reflect upon the material progress of humankind over the hundred and fifty years, it seems very clear to me that much, if not most, of it happened because humankind moved basically from wood to coal to oil/natural gas. To increasingly more dense sources of energy.
And the result is that we get a whole lot more work out of whatever energy we expend. Less and less of that is done by manual labor.
Everything works to live. Look at the African savanna: it’s all about energy. The animals spend all day long getting food one way or another. That’s the way life on earth works.
But not so much for us,because we’re fortunate — we humans have all this fossil energy at our disposal. You and I can sit and chat on Skype here without having to do very much.
But underneath it all is surplus energy — which, unfortunately, we’re running out of. That’s why we’re scraping the barrel with tight oil and shale gas, and oil sands, and heavy oil. And we’re fortunate to still have those options.
But our grandchildren, what are they going to do? I mean, this surplus energy isn’t going to last until they’re our age, I promise you that. I hope I’m wrong. But when I say ‘I promise’, I’m pretty sure I’m right.
The post Art Berman: Houston, We Have A Problem appeared first on Peak Prosperity.
As we get ready to move into the month of December, gold, silver and mining stocks are now poised for spectacular moves.
The post Gold, Silver And Mining Stocks Poised For Spectacular Moves appeared first on King World News.
Here is a look at the gold market, the global economy on crutches, plus this week's positives and negatives.
The post Gold, Global Economy On Crutches, Plus Week’s Positives & Negatives 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!
Prosecutors Usually Send People to Prison. These Are Getting Them Out. (jdargis)
Although the release of the men might have cast doubt on the integrity of the criminal justice system, Ms. Mosby said, the mission of a prosecutor should be to seek justice.
“What that means is that you have an ethical and a legal obligation as a prosecutor to ensure that you exonerate those that are wrongly accused, convicted and incarcerated,” Ms. Mosby said in an interview Tuesday.
Hunger, war and an American dream: One man’s story of overcoming the odds to survive (sv)
Despite his success, Abdi will never forget what he’s been through – or the help humanitarian organizations like WFP provided during his time of desperate need. And with the U.S. being the number-one donor to WFP, Abdi is truly grateful for America’s role in his survival.
The Wisdom Your Body Knows (jdargis)
When we’re really young we know few emotion concepts. Young children say, “Mommy, I hate you!” when they mean “I don’t like this” because they haven’t learned their culture’s concepts for hatred vs. badness. But as we get older we learn more emotional granularity. The emotionally wise person can create distinct experiences of disappointment, anger, spite, resentment, grouchiness and aggravation, whereas for a less emotionally wise person those are all synonyms for “I feel bad.”
Paper sculptures of microorganisms (tmn)
Every piece starts with drawing, the finished work is really a layered three-dimensional drawing. I start with small sketches then work these up into detailed full-scale drawings that are then cut either by hand with a scalpel (e.g. “Cut Microbe” and “Outbreak”) or alternatively with a laser (e.g. Magic Circle Variation). Each cut is then mounted on hidden card and foam board spacers of 1 or 2 cm depth and finally each layer is mounted on top of the other, glued, and pinned in place. Each stage of the process takes weeks and it’s therefore labor intensive, especially for the larger hand-cut works that can take several months to produce.
One Thing You Can Do: Sustainable Holiday Shopping (jdargis)
“There is nothing more aligned with the spirit of the season,” said Kate Kiely, a spokeswoman for the Natural Resources Defense Council, “than thinking about the impact our choices have on the world our children and grandchildren will inherit.”
Recycling isn’t working – here are 15 ways to shrink your plastic footprint (ZWW)
Environment experts are increasingly calling for a reduction in plastic use, as the waste accumulates in the oceans, poor countries and even human bodies. Plastics are also burned, as China – which once accepted the bulk of America’s waste – has begun to refuse it. And more than a million Americans lived next to polluting incinerators.
Enjoy a Plastic Free Christmas This Year – Here’s How (ZWW)
But it’s still possible to have a plastic free Christmas. Here’s our guide to removing plastic from your gifts, decorations, cards, food, drink and more. Perhaps you’ll try them all, or you’ll take things one step at a time and tackle a new area each year.
Whatever you do, you’ll be making a difference and having an impact. Here’s how!
What Survives a Drought? (Kara S.)
Another excellent producer has been okra. I got some Clemson spineless started on time, and they grew to eight feet and produced into October. We eat it fried, in stir fries, with beans and tomatoes, with shrimp creole, with sweet chili eggplant over coconut rice. Even so, there’s gallons in the freezer now, and jars upon jars pickled in my sun oven and sitting on the shelf. I also have a variety specifically for pickling, and a red one too, which got started late and came into production in September.
Click to read the PM Daily Market Commentary
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 11/29 – Good News Friday: The Wisdom Your Body Knows, How To Enjoy a Plastic-Free Holiday Season appeared first on Peak Prosperity.
from Financial Survival Network
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from Financial Survival Network
Dusty Rollins specializes in income planning and tax-saving strategies for business owners, as well as college planning, social security maximization, investments, and debt/interest cost reduction. As owner and founder of Oxford Wealth Strategies, his goal is to help his clients design an income plan to make their money last as long as they do, as well as leave a legacy. From his boarding school days in Penang, Malaysia to his graduate studies in Oxford, England, traveling around the world has given him a global perspective on finances and life.
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The ladies and I leave soon for our Thanksgiving dinner with my wife’s extended family. But before I go, I want to share a few quick thoughts of gratitude with you, dear PP.com reader.
First off, Chris and I are ever-appreciative that we have the privilege of running this website for a living. Few people get to ‘live their truth’ the way we’re able to.
While it’s not always easy or lucrative, it’s 100% authentic and aligned with our guiding values. And it gives us the incredible honor of being in community with other like-minded truth seekers around the world — like you — who want to join and support our mission of “creating a world worth inheriting”.
I’m very aware that not many others feel as fortunate when it comes to work. Recently I’ve had a number of conversations with folks, many of them close friends, who are dealing with money and career worries. I can’t say for certain that it’s a sign the economy is getting materially weaker, but I do see the general angst they exhibit as a symptom of a broken system that offers less fulfillment and security than it once did. If you’re in a similar boat, you have my empathy.
So, knowing that what we’ve created here is truly rare and special, Chris and I are committed to doing all we can to protecting, nurturing and growing the Peak Prosperity movement.
Which, being honest, has been increasingly challenging over the past decade. With the central banks recklessly flooding the world with liquidity conjured from thin air, assets prices have hit record highs year after year after year. The average investor has understandably adopted a “why worry?” attitude. All is good if my 401k keeps gets bigger and bigger, right?
The tremendous volume of US shale oil pumped over the past decade has created similar false comfort. It has kept the overall price of oil contained globally and thus taken the urgency out of preparing for a post-Peak Oil future. Why worry about conservation when oil is cheap?
Now, we and you know that these are incredibly dangerous false signals. In reality, we have pushed off the economic and energetic reckonings that loomed so large in 2008 not by resolving them, but by deferring them — magnifying the destruction they will wreak once they can no longer be delayed.
World debt now stands at $250 trillion. For reference, it was $173 trillion in 2008 and only $83 trillion at the start of 2000. Global income (GDP) has grown much more slowly and is currently trending towards recession. At some point — perhaps very soon — those debts will default either because there’s not enough income to service them (deflation) or to do so, the central banks are forced to destroy the purchasing power of fiat currencies (hyperinflation).
The global energy system is still hopelessly addicted to fossil fuels, most notably oil. The shale ‘miracle’ has actually been a ‘debacle’ from a cash flow standpoint; no one can drill it profitably. The shale basins have been high-graded and companies are starting to exit. The predictable result? Oil prices will be back over $100/barrel sooner than the world is ready for.
It’s imperative that this site persevere to educate and engage the public about these critically-important themes. Because one day, as happened in 2008, the system will break; and panicked millions will suddenly be casting about for answers as to what just happened, why, and what they need to do in response.
And this site will be here for them. To explain, to inspire, and to guide them towards adopting the better behaviors and models that the future needs. All with the help of the existing community of aware, resilient individuals of goodwill — like you — who make up the Peak Prosperity tribe.
Which is why Chris and I have been tremendously busy behind the scenes for the past several months (ever since our April seminar) working on big plans to substantially multiply this site’s impact. Through them, we intend to bring the Peak Prosperity message to many more people, produce more content at higher quality than we’re currently able to, and expand the resilience-building solutions we offer.
Forgive me for being cryptic about the details at the moment; I have to be as they are still very fluid. But I want you to be aware that — despite the multi-year headwinds that have been blowing strongly in Chris’ and my faces — we are more committed than ever to the mission of this site and are (very) hard at work on this next game-changer.
Timing-wise, we hope to be able to start putting these new plans into action at the start of the New Year. So expect to hear more clarity from me as the winter holidays approach. And keep your fingers crossed for us…
In closing, we love what we do and wouldn’t trade places for the world. Thank you for being a part of the movement here and for making Peak Prosperity the unique curious-minded, action-oriented and supportive community it is.
Have a wonderful Thanksgiving! And if you have a moment, share in the Comments below something you’re particularly thankful for on this day of gratitude.
cheers,
Adam
The post A Note Of Gratitude appeared first on Peak Prosperity.
Here is a look at what is happening around the world, plus why Charles Ponzi would be proud.
The post A Look At What Is Happening Around The World, Plus Why Charles Ponzi Would Be Proud appeared first on King World News.
Dallas Fed president believes ballooning debt could suddenly become a big issue for economy (Saxplayer00o1)
“We’re got a record level of corporate and to be specific BBB debt has tripled over the last 10 years,” he said on “Squawk Box.” “Leveraged loans as well as BB and B debt have grown dramatically.”
Total corporate debt has swelled from about $5 trillion in 2007 as the Great Recession was just beginning to $9.5 trillion halfway through 2019, quietly surging 90%, according to Securities Industry and Financial Markets Association data.
‘Cheap’ End-of-Year Funding Fuels Demand for Fed Repo Operation (Saxplayer00o1)
The central bank has been injecting liquidity into the funding markets since Sept. 17, when the rate on overnight general collateral repo jumped to 10% from around 2%. The Fed has also begun buying Treasury bills to add reserves into the system.
Even with the Fed’s commitment to continue providing liquidity to the financial system around year-end, the market is still showing some sign of concern.
Fed economists warn of ‘economic ruin’ if Modern Monetary Theory policies are ever adopted (Saxplayer00o1)
“A solution some countries with high levels of unsustainable debt have tried is printing money. In this scenario, the government borrows money by issuing bonds and then orders the central bank to buy those bonds by creating (printing) money,” wrote Scott A. Wolla and Kaitlyn Frerking. “History has taught us, however, that this type of policy leads to extremely high rates of inflation (hyperinflation) and often ends in economic ruin.”
Brazil real hits record low, central bank intervenes to ease pressure (Saxplayer00o1)
The dollar’s record high of 4.2689 reais was around two cents cent higher than the previous peak reached in 2015 when Brazil was mired in one of the deepest and most painful recessions in its history.
Argentina 2019 inflation seen at 55%, Treasury minister says (Saxplayer00o1)
Fernandez’s government, which takes office on Dec. 10, will inherit a roughly $100 billion pile of sovereign debt that needs to be restructured. It includes a $57 billion financing package with the International Monetary Fund (IMF).
Yield-crazed investors pile into US subprime car loans (Saxplayer00o1)
Still, concerns are mounting that consumers may have taken on more debt than they can handle. Data from the Federal Reserve Bank of New York show that the total proportion of consumer auto loans more than 90 days late — classed as “seriously delinquent” — has been steadily rising.
Westpac is now the main banking horror story and its financial pain is yet to come (ezlxq1949)
While Westpac management has failed to take AUSTRAC’s allegations seriously, everyone else has.
There are now investigations underway from the Federal Police, the corporate regulator (Australian Securities and Investments Commission) and the prudential regulator (Australian Prudential Regulation Authority).
Australia Talks: The most and least trusted professions revealed (ezlxq1949)
One Nation voters had less trust in scientists (79 per cent), judges (47 per cent), and particularly journalists (13 per cent) than other voters.
LNP voters trusted religious leaders, corporate executives and politicians more than other voters, while Greens and ALP voters trusted journalists and union leaders more.
Gold and the Lender of Last Resort (GE Christenson)
The Fed enabled the bailout of banks during the 2008 crisis. The audit disclosed over $16 trillion in bailouts, low-interest loans, and guarantees. Bankers prospered, debts increased, stocks and bonds levitated, and dollars purchased less every year. (Gold prices rise.)
NYC wants a chief algorithm officer to counter bias, build transparency (newsbuoy)
A strong public education and transparency program should be among those considerations, the report says. The city should not only explain in plain language what algorithmic systems are in place but also create processes in which individuals can request more information about the decisions made by those systems, why those decisions are made, and potentially challenge those decisions.
The great American labor paradox: Plentiful jobs, most of them bad (tmn)
So, what is this newfangled thing telling us? Right now the JQI is just shy of 81, which implies that there are 81 high-quality jobs for every 100 low-quality ones. While that’s a slight improvement from early 2012—the JQI’s 30-year nadir—it’s still way down from 2006, the eve of the housing market crash, when the economy regularly supported about 90 good jobs per 100 lousy ones.
U.S. Energy Emissions Rise For The First Time In Half A Decade (Michael S.)
In a major milestone, renewables held a larger share than coal in U.S. monthly electricity generation in April 2019, for the first time ever, reflecting seasonal factors and longer-term trends such as coal’s decline and renewables’ rise. Yet, renewables overtaking coal will be an April blip, as the EIA expected coal to provide more electricity than renewables in the United States for the remaining months of 2019.
Farmers are still managing to harvest crops in drought. Here’s how they’re doing it (Henry H.)
“It’s a whole range of things. It’s stubble retention, managing fallows over summer where we control weeds where we’re not growing crops, and it’s less disturbance of our soil,” he said.
“It’s also what goes on in the background, like breeding programs to improve the resilience of our seed varieties.”
Study: Less Tillage And More Surface Residue Doesn’t Crimp Yields (newsbuoy)
In 2014, studies on two farms near Barney, North Dakota, and Fergus Falls, Minnesota, and a third in 2015 near Mooreton, North Dakota, were established. These farms ranged in soil series with sandy, loamy, and clayey textures, providing local farmers with a realistic picture of low-tillage impacts on their own acreage. Full-scale equipment was used in farmers’ fields.
UN: The world has backed itself into a treacherous corner on climate change (tmn)
The UN’s climate science body, the Intergovernmental Panel on Climate Change, reported last year that limiting warming this century to 1.5 degrees Celsius, the more ambitious target in the Paris agreement, would require immediate, drastic changes to the global economy. The world would have to halve its emissions by as soon as 2030, reach net-zero emissions by 2050, and then pull more carbon dioxide out of the air than it emits thereafter.
If the world had gotten its act together in 2010, countries would only have to reduce their emissions 3.3 percent per year to reach the 1.5 degree Celsius target.
Click to read the PM Daily Market Commentary: 11/26/19
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 11/27 – Yield-Crazed Investors Pile Into U.S. Subprime Car Loans, The Lender Of Last Resort appeared first on Peak Prosperity.
Gerald Celente just issued this major alert with King World News on gold and the stock market.
The post Gerald Celente – Major Alert On Gold And The Stock Market appeared first on King World News.
UNCES LATEST DRILL RESULTS FROM KORA, INCLUDING MULTIPLE HIGH-GRADE STEP-OUT INTERSECTIONS
The post K92 MINING ANNOUNCES LATEST DRILL RESULTS FROM KORA, INCLUDING MULTIPLE HIGH-GRADE STEP-OUT INTERSECTIONS appeared first on King World News.
In this interview, Executive Chairman Ivan Bebek provides an update on Auryn Resources’ numerous projects in both Peru and Canada. Next year will be a big year of drilling for Auryn as Ivan shared: “2020 is going to be led by drilling, for the most part. That is going to be the number one catalyst. We right now are foreseeing about 18 months’ worth of drillable targets. And we’ve started permits for even more drill targets in the background at Sombrero that should continue after that time. So I think drilling is the main driver for us and that is where the share price will react the most.”
Click Here to Listen to the Audio
Continue Reading at MiningStockEducation.com…
0:05 Introduction
1:02 Curibaya project update/overview
4:27 Curibaya permitting, accessibility and infrastructure
5:43 More staking at Sombrero: Macha Machay
7:26 Is Sombrero creating a staking rush?
8:44 Sombrero is on track for February 2020 drill permits
9:11 Committee Bay project update
11:20 Drilling, drilling & more drilling in 2020
13:50 Should the uptick rule be reinstated on the TSXV?
18:40 Analysts’ AUG price targets
Ticker: AUG
www.AurynResources.com
TRANSCRIPT:
Bill Powers: So Ivan, thanks for joining me again. And as I looked over your last few press releases, it seems like you’re doing a lot at your Curibaya project in Southern Peru.
Ivan Bebek: Yeah, thank you very much. Great to be back. The Curibaya project actually, we acquired four and a half years ago and we had one third of two big land claims that make up an 11,000 hectare property on one of the most prolific belts in Peru. Mines such as Cerro Verde, Toquepala, Quellaveco or Tia Maria’s that just got permitted for construction.
Now this is really got some of the biggest mines in Peru, even bigger than Las Bambas on this belt, but again, another world-class trend. What we liked about it originally was the address. If you want to find a big mine, you have to go on these big trends. But when we finally were able to get the other two thirds owned by a Peruvian as well as, I guess a major mining company had surrendered their third because they couldn’t get all three, to this Peruvian entity.
The Peruvian entity actually was an Australian-listed company that ran out of capital for its exploration and became a hearing aid company. So what we did was, we negotiated with the hearing aid company. They wanted a straight purchase, they weren’t mining oriented and we came together for a quarter million dollar US purchase in August.
What we saw that we liked on this portion of our position on the belt was, we saw some historical high grades and we thought this is exciting. There’s high-grade silver, gold, and copper on this belt of these major mines. And if you looked at our last two press releases, you now see over 55 samples of silver from 200 grams silver to 14 kilos silver with a lot of one to two, three kilos, silver and over a six square kilometer area.
That’s truly spectacular from any perspective walking onto a property and getting that as your first look. To go with the silver, we’re seeing 1 to 25 gram gold and 40 samples over the same area. And then there’s these big structures coming into it from the west that are running from 1% to 14% copper.
So what that means so far and what we do and what we don’t know about it is this, is right address. The scale is six square kilometers of ridiculous grade of silver, gold and these big copper structures coming through. We feel strongly that we’re either right on top of one of these major porphyries or right beside it. A mine that would be similar to Chucapaca. You see a big gold on top of the porphyry, beside the porphyry.
You could see a nice big precious metal deposit that sits on top or right beside a major porphyry. And so our swing here is quickly becoming competitive to the first targets we’re going to drill at Sombrero. And I say that not to take away from Sombrero, but we’re sitting back with a massive surprised look on our face to saying, “We can’t believe this sampled so well.”
And it’s got the same theme that not only Sombrero, but Keegan or Cayden, our previous companies had. Each time we send somebody to the project, they come back with a new positive development. And that’s how Sombrero started was, we went to see it six times in a row and it got better each of those six times. And now it just keeps getting better on a bigger scale, right?
In terms of Curibaya, we’d been to it twice. There’s a whole team that just went to it this week and the guys are already buzzing on how they’re really putting the pieces together. So, I think from an investor standpoint, it’s a spectacular opportunity that’s not just base metals, but has a really nice precious metal start with the best silver grades I’ve seen in my career to date. And yeah, we’re just getting started on it.
Bill: You have excellent accessibility and infrastructure at your Sombrero project. You’re going through permitting there, but before you give us an update on that, how does the Curibaya project compare when it comes to permitting, accessibility and infrastructure?
Ivan: Great question. Permitting, much easier. Huge check mark there. We can apply for a different type of permit in Peru that takes about six months from start to finish. So less arduous process. That is a consequence of a lesser populated area that’s a down by the coast.
So it’s an easier place to work. You’re at reasonable elevation. Topography is working well for us. I don’t think any project is as situated as well as Sombrero with power lines that were built on top of the property since we owned it, but it is very accessible that way. Power is not far. It’s not as good as Sombrero, but it’s still good.
I think the big part there is you’ve got to look towards the accessibility is really good and the actual permitting is going to be a lot quicker and easier because of where it is. But there’s no concerns from an infrastructure standpoint at this time. And there’s a lot of options how you’d bring power in and there’s definitely access to water. So another really good place in Peru to be, a little bit better because less people are present, makes the permitting easier. But a really, really good place from that perspective.
Bill: So with your Sombrero project, which was already huge, about a month ago, you announced the additional staking of some more land there. Can you tell us about this?
Ivan: Yeah, this is interesting. We’re waiting for these permits. Impatiently. I’d say that facetiously, but we’re patiently waiting for these permits. And the guys had a few holes in the 7,000 square kilometers that we screened, trying to put together this really optimal land position as first movers on extending that huge belt.
What happened was, we went back to one of these holes at a very low cost and we started screening ground. And doing more of our BLEG sampling, which is going down into the valleys and sampling, basically, the clays or the icing sugar kind of grained sand to get a very representative idea of copper and gold in the regions.
We found our highest grade copper in the entire 7000 square kilometers we sampled. Even much higher than what you see at Sombrero North, where we’re about to start drilling that the whole world’s excited about. And this is a 72 square kilometer footprint. So it’s big, it’s really big. And it got the phone ringing from a lot of people on the technical side that follow our progress here.
For us, the second major thing about it, it’s within the same community we already have agreements with. So I think you can expect to see us real shortly, if not in the next few weeks, early next year, we’ll be sampling it and getting it ready to put it into the drill permitting process system early next year.
But truly spectacular. I mean it’s the highest grade we’ve sampled by the methodology that puts Sombrero together, year to date. And it’s over 72 square kilometers, which is truly, it’s a size that we look for as an exploration team.
Bill: You’ve mentioned in past interviews with me that you have confidentiality agreements (CA) signed with some majors because of your Sombrero project and its prospectivity. But with all this additional staking and the results you’re bringing forth to the market, is there a staking rush going on around you here?
Ivan: Oh, that’s a good question. Not everybody signed confidentiality agreements. And the reason why people do it is so that they can have a look at your raw data. Because we show the high level to the market and it’s proprietary information. And it puts the company at risk if you don’t have some type of an arrangement, if you’re going to show your data.
A lot of the parties that didn’t sign CA’s, I’m not going to isolate any individual and I’ll actually mention all of them because they’re on our map. But you see Freeport-McMoRan staking right next to it. You see Rio Tinto. You see Sumitomo. These are three major, major mining companies that didn’t sign CAs and they’ve all got claims adjacent to us now on this belt.
So no question, is there a bit of a staking rush, but there’s not a lot left for them to stake, of consequence. Because I have to complement our technical team, they were very thorough and we were very aggressive in putting together the commanding land position for the belt. So I like to think we got most of it, at the very least. And it’s nice to see them staking adjacent to us and some of our claims, not just here, but also by Sombrero North.
Bill: Ivan, in our last interview, you had talked about potentially putting the drills there at Sombrero in February. Are we still on track for that?
Ivan: It’s not a science or a fixed date that you can rely on, but we’re still on track for February, Q1, to have permits to go drill. So that’s very much in line. That hasn’t changed yet and we look forward to that. If that changes, we’ll certainly, we’ll update you and the rest of our shareholders. But as of right now, that stays as the time we plan to have our drill permits.
Bill: You also had news from Committee Bay in Northern Canada. Can you give us the highlights of what you announced here in October?
Ivan: Sure. It was the smallest program we did in five years. We’ve now spent about $60 million trying to figure out on how to find gold underneath cover in one of the more tougher regions in the world to go explore. The good news is the rewards are huge here. The breakthrough we had this year would fall into the technical success category.
We found a signal in our geophysics, that’s basically the currents that we put into the ground to see what’s underneath the ground. And it was very, very specific to the high grade at Three Bluffs, our deposit of 1.2 million ounces of nearly eight grams per ton. So what the guys have done is, they took all the tens of meters that we’ve drilled. We’ve drilled 30, 40 meter widths, which would be mining widths in this part of the world, of lower grade. And they compared the signals on a statistical basis to the high grade.
Needless to say, we now have the signal for high grade. It’s the key. I think that’s going to be a massive driver for us on making, not just drilling minable widths of gold, which we’ve done extensively, but to actually go find the high grade portion of these things.
That is something that has come out as a revolutionary discovery for us, technically. And we are now looking at all the data we have along the belt and we’re compiling targets and hopefully at some point in Q1, we’re going to have a press release, which will show people how many of our targets are currently ready for drilling, from that data. And then how many more we’re going to want to go back and do some more work.
But the goal at Committee Bay is really to do what we did a few years ago before Goldcorp invested $36 million. And that’s going to be to go up and down the belt and put together 10 or 15 targets that have that high grade signal to go with all the other gold elements we’ve found. But truly it’s a bull market project. We’ve always said that. We’ve never shied from it because it is in the Arctic, but it still is one of the premier places on the planet to go find multiple 5 million ounce high-grade discoveries, as they’re being found in the Arctic. And mines are being built, such as Amaruq by Agnico Eagle. So it’s something you’ll see more from in Q1 and it’s really exciting for us because we think we finally cracked the way to target high grade up there.
Bill: So could you provide an overview of what speculators should look forward to in 2020 and how are you going to finance this?
Ivan: First of all, 2020 is going to be led by drilling for the most part, that’s going to be the number one catalyst. We anticipate, as I mentioned, the drilling for Sombrero North, specifically, Sombrero main targets in the first quarter. And we believe those will be followed by permits to drill in Nioc, our second target, midway through the year. And then the third or the last quarter of the year, we’re going to have access to drill Curibaya. So we right now are foreseeing about 18 months worth of drillable targets and we’ve started permits for even more drill targets in the background. At Sombrero, that should continue after that time. So I think drilling is the main driver for us and that’s where the share price will react the most.
Secondly, on the Canadian side, you’re just going to see both Homestake and you’re going to see the Committee Bay come together with number one, Homestake where we have information to put out there. We’ve worked on it this summer. We’re looking to expand targeting on it as well as to talk a bit more about the value of that project. But on committee Bay, you’re going to start to see the platform for major potential gold discoveries on the back of five years of trying to figure out the science there.
So it’s going to be a busy year, predominantly led by Peru. We get to drill everything we love in Peru, continuously. Then the Canadian side, it’s going to be a bit quieter just because we’re going to be focused in Peru and watching our treasury.
You asked me how we’re going to finance it. Great question. We financed ourselves this year. We’ve done three financings, two were with insiders and close friends and family. We’ve stayed away from doing a market financing because we’re looking for a very special type of investor. Somebody substantial on the strategic side that would be more of a deeper-pockets, well-known representative that would upgrade the shareholder registry. And that person is somebody we’re patient to wait for while we finance ourselves. If not, potentially a corporate at some point. We may entertain another one like we have in the past at a premium to our share price, should there be interest and the terms be favorable. But we’re very anti-dilutive, as you’re aware, and we’re looking to make sure we’re upgrading our registry.
We’ve been offered money quite a bit this year. And you can tell by our share price performance it’s not really that impactful, but we’re going to look to do something that’s extremely intelligent in terms of upgrading the shareholder registry. And you’ll probably see something between now and February, but we don’t have any immediate plans to rush anything because we’re funded right now through those time periods.
Bill: Ivan, in the junior mining sector news this week, it’s been the idea or the re-implementation on the Toronto Venture Exchange of the uptick rule where you can’t short a sub-$250 million micro-cap company unless that company is trending upwards. I talked to Rick Rule in a recent interview and he is not for the reinstatement of that. He said let free markets be free markets. His friend Eric Sprott, however, is for the reinstatement of that rule. What’s your take here?
Ivan: That’s very interesting because they both work with Sprott. So I can imagine what the dinner conversation is like there with them. As a consequence of heavy shorting that we’ve experienced throughout the year, we’ve had several investors complain and we have complained to the Toronto Stock Exchange, to the New York Stock Exchange. Because at the last 30 seconds or 50 seconds of the day, you see this downtick that’s uncharacteristic to the daily volume. And it’s like a manipulation downwards, right? It does not give fair trading representation to the company. If we weren’t victim of that kind of treatment and if you were to ask me, the bigger question was, where do you think you guys should be trading today on an opportunity like Sombrero?
Forget everything else that you have and your technical team. And we’re describing Sombrero is an analog to Las Bambas, the 10th largest copper mine in the world. Where should speculators be on your share price? I’d say we’re grossly undervalued, full stop. And this would be based on third party validations, both from analyst as well as major mining companies. And trusting an extremely intelligent technical team that’s formed of global experts from Newmont.
So I find that our busy-ness in our trading and watching our share price, we’re putting a lot more money and energy towards making sure our stocks are fair-valued. We have a public float that’s not between really good investors that are longterm investors of about 15 million shares. We’ve traded 70 million shares between Canada and our US exchange from January 1st. I’m quite sure we haven’t turned over our investors four or five times this year, as it would represent by the volume. So it’s unfair to the average speculator because it takes a lot away from the opportunity that’s in front. We don’t have an ambition to be 50 cents higher. We don’t mind if we’re 50 cents lower. What we care about is delivering this tier one discovery to the market.
However, I think some investors get deterred at times when they say, “Hey, Ivan, if it’s so good and you have all this confidence in it, you have all this third party validation, why is the stock not performing better?” On good days, we go down and bad days, we go up. You know what I can’t explain is, in the last few weeks since we announced Committee Bay, I saw about a 5 million share buy order in our market and I have no idea who that was and where it came from.
Was it short covering? Possibly. Is it some kind of a corporate strategic taking a toe hold in the company? Possibly. I don’t know. But because there’s so much of this shorting in this, there’s no uptick rule, it’s really tough for us, as a company, to explain it. So we just try to focus more on the general business of the company.
And this is why we’ve been so militant about finding the right investors and doing a financing that would not be the typical one that would expose us to where shorts could cover through financings and stuff like that. So, I think it’s a big problem. I would side with Eric Sprott for good reason. I think that companies in this state, insiders are buying stock as I bought lots of shares of Auryn to represent my confidence alongside shareholders. I think that it’s unfair for companies like this, in turbulent markets because all markets being equal.
And to Rick’s point, I don’t disagree with that, that a fair trade market environment is completely legitimate. However, I don’t agree with the manipulated in market environment either. And we’re looking at an industry, which is having a hard time finding capital and raising capital. And we’re looking at an industry that it’s having also, a hard time finding major deposits, as they’re a lot harder to find globally.
So if we cripple the stocks that are trying to go out and raise money. And find these discoveries that are going to be essential towards the future copper demand and the electrification of the planet and clean energy, clean burning or other metals that are used on it, even on an industrial basis, it’s going to really put the planet in a unique place. It’ll probably make commodity prices go through the roof. But no, it’s an industry that’s tough enough as it is without that. We’re coming out of that bear market now and that’s a really exciting thing. And I think eventually this all goes away, but for the time being, it’s been tough for the last couple of years for a lot of people. And not so much ourselves, but a lot of other companies.
Bill: Your price on the US exchange right now is about a $1.30 per share for Auryn. And then you have in your presentation on page 31, several analysts that are setting forecasts of US$2.00; US$2.20 and US$3.25. And just as an investor myself, I’ve always struggled with, on stocks like yours and companies that are built like yours, where the speculators will be rewarded for exploration. How do these analysts even come up with these price targets? Because if you’re successful, as you’ve articulated to me and my audience, your price is going to be a lot higher than US$3.25.
Ivan: You know what? I think this, until the first drill holes come out and we call that the truth machine and it shows the world what’s here, I think there’s going to be a lot of different opinions at the dinner table, right? Some people are going to say, “Hey look, your analysts are global experts from Newmont. They’re legitimate. You’ve done this twice before and you’ve rewarded investors incredibly well. We respect the fact that other major mining companies recognize the opportunity and analysts are describing it as is.”
If you look at Beacon’s most recent report, he was just on a site visit last week. Michael Curran, he is a really well respected analyst and he qualified Sombrero as the right rocks, the right place and the right scale. And everything that we’re advertising is being validated.
So, I think that when you start to drill this kind of a project, I think that these analysts, things will change a lot. And I think that you’ll see targets that are more representative. The other thing I will caution a lot of your viewers and everyone is some analysts are not geologists. And if you want to speculate properly, look to the analyst who’s a geologist and see what he has to say.
I know a lot of people that are not geologists, they’re well-educated. They know the marketplace well, but how are they going to understand the geophysics? The geochemistry? The cool sciences that we use to go find these deposits? So, I’m not saying I want higher buy targets today. I’m saying that they will probably allot closer together once things start happening, but look to the analysts that have some sort of technical background. And the ones who’ve been to the project with that background because they truly are going to be the ones that understand it better.
I’ve seen analysts, I mean, we have a CAD$5 buy target out of Canaccord. And I mean, who is right? Is it him or is it a US$2 target? I think these targets are all based off of our Canadian assets. I think very few of them have factored much in terms of value for Sombrero and what it might be. If you were to go and say, “What’s a fair price? Where do you think this could go if Sombrero’s right?” All I can do is say, if we found another Las Bambas, which is what are, what we think we’re going to do here in the Northern part of our Sombrero claims, that company sold for $8 billion.
Glencore sold that asset to MMG in 2014. Two billion I believe, was infrastructure. About six billion was the value that was given for the metal content, which is about $50 billion ore body today, gross value. If you take half of that and you take two and a half or $3 billion of the six billion that was given for that part of it, and we’re copper gold, not copper moly, you’re looking at current dilution, assumed share price. You’re looking at around $25, $30 a share is what we’d be hoping to deliver to shareholders. By analogy to something that’s right next door, same rocks, same age of rocks, which is critical. And when you’re looking to just say you have the same system and same scale of mineralized rocks that we’ve mapped and sampled so far. So I think there’s a lot of room here to create a 10 to 20 time your money investment and that’s something we’ve been chasing for our investors from day one. It is a long road to big returns and there’s a lot of risk along the way.
If Sombrero works, and I say “if”, and I should say “when”, but I’m going to be just, very cautious here. Just because I’m just optimistic and I don’t want to pin myself in a corner. But if and when it works and we start to get Sombrero right, I mean, the challenge isn’t for us, isn’t going to be share price performance. It’s going to be holding onto the asset long enough, because I think it’s going to be in the wheelhouse of all the major base metal companies in the world. And I think it’s going to be quite competitive.
I have not seen somebody go and extend an entire belt and stake the entire belt in the last two decades. And sky’s the limit of how many of these things can be found. Right now, we see three years of exploration just in the North, to get through the first targets. Then we come down to Macha Machay and we look at the other claims we have in the belts. I mean, this is truly, probably 10 to 20 years of exploration discovery potential across the belt. And why it’s so preserved is because there’s a lot of volcanic cover, so you can’t see the rocks. But there’s ways to apply science to test it.
At Sombrero itself, we’re seeing stuff undercover through geophysics, that we haven’t even…we’re analyzing right now. We haven’t announced yet, but we’re just seeing more and more big evidences, big clusters of potential other intrusions. So size is the appeal, getting an entire belt as a junior company or even as any company, whether you’re a major or junior, is truly a once in a lifetime opportunity. And that, I think, is being missed largely by the marketplace. Yes, we need money, but we’re going to take it from a very good place. We are going to do it on our terms, not anyone else’s. And we’re going to be very careful how we do that.
Bill: In a day where many exploration companies struggle just to raise the TSXV listing fees, you can see Auryn is the exact opposite. They’re staking new ground. They are preparing permits. Their technical team is reviewing data. They’re going to be drilling all in next year. This is a management team that you truly want to follow. Website again is aurynresources.com. Ticker is AUG. Ivan, I look forward to touching base with you in January and getting an update on our progress. Thank you very much.
Ivan: Me as well. Thank you so much.
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As we approach the final month of 2019, the gold market needs a December surprise. Gold Coiling For Bullish Advance? November 26 (King World News) – KWN received the following
The post This Is The Chart That May Unleash A Major Upside Thrust In The Gold Market appeared first on King World News.
As we approach the final month of 2019, the gold market needs a surprise on the upside.
The post Gold Market Needs A Surprise On The Upside appeared first on King World News.
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Q3 adjusted EPS excluded a non-cash impairment charge of $0.06, net of tax, and an unrealized gain of $0.05, net of tax, on the company’s equity investment in JD.com.
While profit margins dipped modestly, down 36bps to 24.5%, the bottom line beat was largely due to the 5.4% drop in the effective tax rate, which declined to 24.1% in Q3.
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El Mencho’s American Empire: Mexican drug lord’s super cartel infiltrates U.S. small towns (Sparky1)
CJNG’s rapid rise heralds the latest chapter in a generations-old drug war in which Mexican cartels are battling to supply Americans’ insatiable demand for narcotics.
A nine-month Courier Journal investigation reveals how CJNG’s reach has spread across the U.S. in the past five years, overwhelming cities and small towns with massive amounts of drugs.
‘Chilling’: Singapore’s ‘fake news’ law comes into effect (TS)
Authorities in the tightly controlled country – long criticised for restricting civil liberties – insist the measures are necessary to stop the circulation of falsehoods that could sow divisions in society and erode trust in institutions.
But the laws have sparked outrage from rights groups, who fear they could stifle online discussion, tech companies and media organisations.
UK General Election forecast – update (James W.)
In 2016, I wrote that “the Conservative Party is moving to bring on-board Labour voters, just as Donald Trump is doing with blue-collar Democratic voters, in the United States. You may hear a lot more in the coming years of the May Labourites and how they will bring an electoral landslide for the Tories at the next general election.” The Tories under the than Prime Minister May were embracing the rhetoric of a centre-left economic policy agenda and as a consequence enjoyed soaring polling ratings.
The Dutch Are Waking Up to Discover They Live in a ‘Narco State’ (Sparky1)
This is the Netherlands 2019, not Sicily 1992, but the assassination of a dedicated public servant like Wiersum attests to the sense of impunity gangsters in Amsterdam currently enjoy, and appears to be part of a strategy to intimidate not only Dutch state representatives but Dutch society as a whole.
Ironically, the Netherlands has seen a decrease in murders and overall violent crime, but there is a deep sense of urgency among Dutch police as they face the growing power of criminal networks on Dutch soil.
Bloomberg Bought Virginia Legislators Introduce Confiscatory Gun Ban (boomer41)
SB 16, introduced by Sen. Richard L. Saslaw, would create a total ban on commonly-owned semi-automatic firearms, like the AR-15. Even worse, the ban would even extend to common firearm parts. The restrictions included in the proposed legislation does not grandfather current owners. The legislation is clearly designed to be firearms confiscation, as current owners would be forced to dispossess themselves of their property or face a felony conviction.
Putin’s Push For Energy Dominance In Latin America (Michael S.)
For Russia, which is a nation where oil and natural gas are around 60% of exports and responsible for generating up to 30% of gross domestic product (GDP), the benefits are decidedly apparent. Even more so, when it is considered that Putin’s government is facing an economic crisis triggered by oil’s prolonged slump. Moscow has taken a surreptitious approach to extending its influence in a region long considered to be the U.S.’s sole domain. Venezuela’s economic collapse and failing oil industry, which is the nearly insolvent petrostate’s only source of export earnings and hard income, has forged the ideal environment for Russia to extend its influence in Latin America.
Retire early… to save the planet? (Little Pond)
Recent opinion (George Monbiot gives an example) champions collective action, and rejects individual consumer choices, not without good reason. “Buying green” is fantastic marketing, but an ecological wash. Although it arguably makes your laundry smell better, choosing Seventh Generation over Tide does not help the earth much. Even choosing a Tesla over a Corolla may not make a big difference.
Carbon dioxide in Earth’s atmosphere reaches record high, researchers say (TS)
“It is worth recalling that the last time the Earth experienced a comparable concentration of CO2 was 3-5 million years ago,” he said of the 407.8 parts per million milestone. “Back then, the temperature was 2-3 [degrees Celsius] warmer, sea level was 10-20 meters higher than now.”
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The post Daily Digest 11/26 – Singapore’s ‘Fake News’ Law Comes Into Effect, Retire Early To Save The Planet? appeared first on Peak Prosperity.
