Investing for the Long Term: A Conversation with Marc Lichtenfeld

the oxford club's marc lichtenfeld

One of Marc Lichtenfeld’s proudest moments was getting to ring announce a world title boxing fight promoted by Mr. “Only in America” himself, Don King.

“He was one of my main clients for many years,” Marc tells me, adding that the boxing impresario “is always the smartest guy in the room. He’s three steps ahead of everyone else.”

You could say the same thing about Marc. As the Oxford Club’s chief income strategist—his day job when he’s not announcing boxing matches—Marc has spent much of his career educating investors on how best to stay “three steps ahead” of the market.

That means, among other things, taking a long-term investment approach and focusing on what he calls “Perpetual Dividend Raisers”—high-quality companies that consistently raise their payouts, preferably by a significant amount.

“The longer you can stay invested the better, as your dividends will grow and so should your capital,” he writes in his most recent book, You Don’t Have to Drive an Uber in Retirement.

Staying disciplined and sticking to this strategy go a long way in helping investors roll with whatever punches the market might throw.

Read on for more highlights from my recent conversation with Marc Lichtenfeld.

What inspired you to get into the financial world?

When I was in college, I had no interest in the stock market or finance. I wanted to be a sportscaster. It wasn’t until after I graduated that I started to invest for myself, and I became kind of obsessed with it. This was before the internet, so I would spend Saturday afternoons in the library researching companies and learning everything I could.

I eventually decided to make my hobby my profession, but nobody was interested in hiring a 20-something kid with no relevant experience.

I decided to visit a trading firm right down the street from my house that I knew was looking for a trading assistant. When I walked in and handed them my resume, I got the impression that I wouldn’t be getting a call back. I could see, though, that they desperately needed help entering orders and balancing their books, so I made the guy an offer he couldn’t refuse. I told him I’d work for free for a week, and if he wasn’t happy with what he saw, he could tell me no thanks. But by the end of the week, he told me to come back on Monday and that he’d start paying me.

That was my entry into the world of finance. From there, I had a couple of other positions, including as a sell-side analyst at Avalon Research Group, and then in 2007 I joined the Oxford Club, where I’ve been ever since.

Tell us about your start with Oxford Club and how the group has contributed to your professional development.

One of the things I admire most about the Oxford Club is its emphasis on individual investors. It really tries to teach investors how to grow their wealth the right way by managing risk and investing in quality companies.

get rich with dividends. how to build a portfolio with double digit returns I began there by writing about biotech, which even now I believe is an industry of the future. A few years later, I spoke with Julia Guth, our CEO and publisher, about taking over the dividend newsletter, and in 2013 I launched my own dividend newsletter, the Oxford Income Letter.

My main focus since then has been on dividend growth companies. Around the same time that we launched the Oxford Income Letter, I wrote a book called Get Rich with Dividends. The strategy I describe is one that’s worked for many years. When you invest in companies that are raising their dividends 5 percent, 8 percent, 10 percent a year, you vastly improve your odds of generating some impressive returns and beating the market year after year. If you’re still in the wealth-building phase, it’s also important to reinvest the dividends because then the compounding machine just goes into overdrive.

This can really make a significant difference in the size of your portfolio and change your life down the road. It’s one of the many reasons why I started my kids investing in dividend growth companies. If they started as children, they could be in a very good position 30 years from now when they’re looking to buy a house or send their own kids to college.

Sticking with that strategy sometimes requires a lot of discipline.

I was actually having a conversation with my brother recently because he’s looking to put some money to work and wanted to get my thoughts. He’s a bit of a worrier, though, so I reminded him that if he’s going to invest, he really needs to be disciplined and not freak out if the market takes a downturn in, say, three years. What’s far more important is where the market will be 10 years from now. Historically, the market is up 10 years down the road—it’s very rare that it’s not—but you need to have the discipline to stay with it.

The important takeaway here is to know your tolerance for risk and adjust your investments accordingly. My brother’s very cautious, so he probably shouldn’t put every dollar in the market if he’s going to lose sleep over a correction and sell at the wrong time.

It’s easier for those who’ve seen the data and know that the market has historically been up in 10 years, even if we’re at the top of the business cycle. In Get Rich with Dividends, I talk about the only times when markets have been down over a 10-year period, and those are in the middle of the Great Depression and in 2008-2009 during the Great Recession. You would literally need to cash out in the middle of a historic downturn not to make money over 10 years, and that’s if you sold right at the bottom. If you had waited another year or two, you might have come out at least breaking even, if not better.

Who were your mentors early on?

My …read more

From:: Frank Talk

Lucara Diamond moves forward with ‘stone by stone’ sales plan

By Cecilia Jamasmie

Canada’s Lucara Diamond (TSX:LUC), the company that hit the jackpot in 2015 after finding the world’s second-largest diamond, is stepping up efforts to track gems in the supply chain and advance personalized sales by inking a deal with industry technology developer Sarine Technologies.

Through its subsidiary Clara Diamond Solutions, acquired in February, the Vancouver-based miner will include Sarine’s mapping and planning technologies into its sales platform, which applies algorithms to match rough diamond production with polished manufacturing demand on a stone by stone basis.

Miner will include mapping and planning technologies into its sales platform to match rough diamond production with demand for polished rocks on a ‘stone by stone’ basis.

Clara, which will hold its first rough diamond sale in the third quarter of the year, also uses blockchain, the technology behind digital currency bitcoin, to allow buyers source rough diamonds tailored to specific polished gems demand, resulting in improved margins for both buyers and sellers.

Under the terms of the collaboration agreement with Sarine, selected diamonds recovered initially at Lucara’s Karowe mine will undergo inclusion mapping using Galaxy technology, creating a digital fingerprint that will be uploaded to Clara’s platform.

Diamond buyers will upload their specific gem requirements in terms of size, cut, colour and quality for their specific needs, creating an order within Clara.

The new process will encourage sales on “a stone by stone basis”, Lucara said, allowing customers to purchase only those rough diamonds that meet their specific manufacturing requirements, which eliminates the need to re-trade and finance unwanted inventories.

Commercial production Karowe, the mine selected for the trial, began in 2012. Since then, it has produced an average of 320,000 carats a year from the treatment of 2.5 million tonnes a year of ore from three kimberlite lobes.

The post Lucara Diamond moves forward with ‘stone by stone’ sales plan appeared first on MINING.com.

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From:: Infomine

Chris Temple from The National Investor – Mon 20 Aug, 2018

By Cory댊 CoT Reports for Gold and Treasuries and Looking Ahead To The Jackson Hole Meeting This Week

Chris Temple kicks off this week with comments on recent CoT reports as well as a major central bank meeting this week. The CoT reports for Gold and treasuries show some noteworthy net short positions for the speculators. For gold we are at a net-short level not seen in 17 years and for treasures we have never seen the spec traders so short since the start of the data in 1997. As for the central banks, the Jackson Hole meeting is on Thursday and Friday. We discuss the possibility of any key comments coming out of the Fed.

Download audio file (2018_08_20-Chris-Temple.mp3)

Click here to visit Chris’s site for more market and economic commentary.

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From:: The Korelin Economic Report

Brixton Metals Provides Update on its Hog Heaven Silver-Gold-Copper Project

By Hamza Ghaznavi

Brixton Metals Corporation (TSXV:BBB) is pleased to provide an update on its Hog Heaven project data review, new geophysical data acquisition and short term project development plans.

Highlights from the work to date at the Hog Heaven project:

  • Completed the historical assay data entry and drill log data entry. Total metres historically drilled on the project is 57,498m from 722 drill holes as rotary, reverse circulation and diamond drill core
  • Completed 724 line kilometers VTEM Plus and horizontal magnetic gradiometer survey
  • Completed the acquisition of 60 square kilometers of Lidar and digital aerial photography
  • Received the exploration/drilling permit from Montana Department of Environmental Quality
  • Renewed the operating permit with Montana Department of Environmental Quality
  • Construction of a new core facility has been completed
  • Brixton funded 2 M.Sc. research studies with Montana Tech University to look at alteration and ore mineralogy to further understand the hydrothermal fluid system to provide vectors for feeder zones of the mineralization

Chairman and CEO of Brixton, Gary R. Thompson stated, “The Hog Heaven project, which hasn’t seen any work since the mid-90s, is now drill ready. The project represents a high quality high-grade asset that we rarely see available in the market these days. The initial drill programs should focus on infill and confirmation drilling to support a NI-43-101 resource estimate and to confirm the presence of new mineralization on the property. Targets include near surface high sulphidation high-grade polymetallic-silver-gold rich veins and breccia, which is believed to be related to a porphyry target at depth. We are excited to drill some fresh core on the project.”

A detailed presentation on the Hog heaven projects is available at the following link:

http://brixtonmetals.com/wp/wp-content/uploads/2018/08/Hog-Heaven-August-2018-small.pdf

Drilling

Brixton is planning to initiate a nine hole drill plan for the fall of 2018 to twin and confirm some of the previous drilling and to test the high-grade feeder zones to the west of the Main Mine zone and south of the Ole Hill zone. Phase two drilling will focus on expanding the known mineralized zones, infilling areas of sparser drilling and testing some of the nearby compelling targets. Additional holes will test newly generated targets. The proposed drilling program is subject to future financing.

A table of Historical Drilling Highlights: As previously released on January 15, 2018
Hole ID From (m) To (m) Interval (m) Ag g/t AgEq g/t
FD-75-2 204 244 40 155 336
FD-75-4 163 205 42 96 275
FD-75-5 69 78 9 95 253
FD-75-6 81 93 12 111 165
FD-76-27 114 133 18 633 695
BOD-79-2 0 11 11 472 490
BOD-79-2A 0 9 9 680 744
AFR-79-2 55 59 5 738 913
AFR-79-5 107 119 12 1089 2330
AFR-79-5 279 305 26 211 268
AFR-79-9 49 55 6 608 694
AFD-79-8 43 66 23 599 687
AFU-80-1 44 56 12 349 535
AFR-80-4 108 136 27 329 527
AFR-80-9 93 168 75 210 338
AFR-80-26 17 84 67 302 391
AFD-81-24** 189 251 62 155 182
AFR-81-8** 61 116 55 254 411
AFR-81-26** 40 72 32 276 318
AFR-81-38A** 38 91 53 411 643
AFR-81-40** 0 43 43 356 375
R-83-52** 107 125 18 372 633
* Silver Equivalent values (AgEq) were calculated using the formula AgEq = $1,200 x Au g/t ÷ 31.104 + $17 x Ag g/t ÷ 31.104 + $3 x % Cu ÷ 100 x 2204.63 + $1 x % Pb ÷ 100 x 2204.63 + $1.20 x % Zn ÷ 100 x 2204.63/$17 x 31.104. This method assumes full metal recoveries. Metal prices used in this calculation include: $17 per ounce for Ag, $1200 per ounce for Au, $3 per pound for Cu, $1.2 per pound for Zn and $1 per pound for Pb.
** These intercepts have incomplete assay data for Cu, Pb and Zn.
Note: The Qualified Person (“QP”) for Brixton cannot verify the drill results reported in the tables above or the other technical information set out in this news release. The precise location of the drill cores from the program is presently unknown and they have not been inspected by the QP, and therefore Brixton has not undertaken any re-logging, resampling or check assays; however, Brixton has no reason to doubt the results and considers the results relevant and suitable for disclosure. Data from the above drill results are historical results and it is unknown what type of quality-control programs were performed at the time. The QP also advises that true width of the above results cannot be determined at this time.

Geophysical surveys:

During May 2018, Brixton contracted Geotech Ltd. to carry out a helicopter-borne geophysical survey over the project. A total of 724 like-kilometers of geophysical data were acquired and consisted of Versatile Time-Domain (VTEM) Plus and horizontal magnetic gradiometer surveys.

The survey has been successful in identifying several magnetic and EM anomalies. It was observed that generally, known mineralization is located along magnetic low margins. Brixton is planning to drill test some of the magnetic anomalies, with the objective to identify additional high grade Ag-Au-Cu-Pb-Zn mineralization as well as testing for porphyry mineralization potential of the project.

Exploration Upside:

Main Mine Zone

The Main Mine zone is the most advanced target at the Hog Heaven Project and where most of the historical work was undertaken. The mineralization consists of Ag-Au-Cu-Pb-Zn mineralization that occurs at the contact between latite porphyry and volcanoclastics. There is a strong vertical and lateral metal zonation with increasing Au-Cu grades at depth within flat-lying ore bodies and a core of Ag +/- Au is haloed by Pb and Zn +/- Cu. The Main Mine zone was subject to a positive feasibility study produced by Coca Mines in 1988, but the mine construction was halted due to silver and gold prices dropping in 1990 (see News Release dated June 22, 2017). The Main Mine zone presents excellent exploration upside near surface as well as at depth (feeder zone).

Ole Hill Zone

Historically, mineralization has also been outlined in the Ole Hill area and occurs along the contact between, and within, both volcanoclastics and Precambrian siltites. Generally the gold content is higher at the Ole Hill zone than the Main Mine zone. Brixton is planning to drill test the extent of know mineralization at depth and on strike (some of the historic drillholes ended in mineralization).

Other Exploration Targets: In addition to the Main Mine and Ole Hill targets, nineteen historic adits and workings have been identified within the area. Two of the prospects occur at the contact between the Tertiary intrusive and volcaniclastic rocks, similar to the Main Mine. Three of the prospects occur in the Late Proterozoic Belt Supergroup rocks which Mauk (1983) believed to be part of the Revett Formation of the Ravalli Group.

Mary-Ann Bergmann Mine

The Mary-Ann Bergmann Mine had high grade ore mined …read more

From:: Investing News Network

South Voisey’s Bay Project Expands as Fjordland Options Claims in Labrador

By Anwesha Sengupta

Commander Resources Ltd. (TSXV: CMD) (“Commander”) is pleased to report that its project partner Fjordland Exploration Inc. (“Fjordland”) (TSXV: FEX) has expanded the company’s South Voisey’s Bay nickel-copper-cobalt project (the “SVB Property”) located 80 kilometres south of Vale’s Voisey’s Bay nickel mine in Labrador, Canada. Fjordland has signed a Letter of Intent with a consortium of private claim holders granting Fjordland the option to acquire a 100% interest in 38 mining claims located in the South Voisey’s area, Labrador. Under the terms of the agreement, Fjordland has the option to pay to the consortium $110,000 and incur $120,000 in exploration expenditures over a period of three years. The Vendors retain a 3% net smelter royalty that may be reduced to 1% by paying $600,000 for the first 1% reduction and $1,200,000 for the second 1% reduction.

The property is contiguous to mineral tenure held by Fjordland and Commander as part of their South Voisey’s Bay nickel-copper-cobalt Project (“SVB Project”). Fjordland’s strategic investor, High Power Exploration Inc. is funding this year’s $1.2 million work program.

Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.

About Commander Resources:

Commander Resources is a Canadian focused exploration company that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. Commander has a portfolio of base and precious metal projects across Canada and significant equity positions in Maritime Resources Corp. (MAE-TSX.V) and Aston Bay Holdings (TSXV: BAY). Commander also retains royalties from properties that have been partnered, optioned or sold.

On behalf of the Board of Directors

Robert Cameron, P. Geo.
President and CEO

For further information, please call:
Robert Cameron, President and CEO
Toll Free: 1-800-667-7866
info@commanderresources.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

The post South Voisey’s Bay Project Expands as Fjordland Options Claims in Labrador appeared first on Investing News Network.

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From:: Investing News Network

Gold investors ‘give up hope’ as biggest short in history builds

By Bloomberg News

Gold is hitting new milestones of misery.

Exchange-traded funds tracking the metal have bled assets for 13 consecutive weeks, the longest run in five years, investors have placed the biggest gold short on record, and bullion’s chief foe — a strong dollar — is extending its market grip.

Gold’s 9 percent tumble this year belies the turmoil in emerging markets and jitters over technology companies, the anchor of the U.S. equity bull market.

“The long suffering holders of ETFs have finally given up hope of the yellow metal returning to its former glories and have decided there is better protection in the dollar, the stock market and pretty much anything other than gold,” David Govett, head of precious metals at Marex Spectron, said by email. “I can only say that gold, as a safe haven, has been a massive disappointment this year.”

Hedge funds and other large speculators increased net-short bets on the precious metal in the week ending Aug. 14 to the most on record, according to data published Friday going back to 2006.

Exchange-traded funds tracking the metal have bled assets for 13 consecutive weeks, the longest run in five years.

While investors in the world’s largest ETF market have pulled $1.4 billion from gold-backed funds this year, it’s a different story for non-dollar-based buyers in the rest of the world.

In Europe, gold ETFs have added $1.3 billion since January, led by the X-Trackers Physical Gold product, which has more than tripled in size. Money managers across Asia have been almost as keen, adding $1.1 billion to the products this year.

“We’ve seen strong inflows over the last two weeks,” Nitesh Shah, a London-based commodity strategist at WisdomTree, which runs a Europe-listed ETF, said on Friday. “A lot of investors are seeing a bargain-hunting opportunity.”

Pain in the gold market could intensify. When prices last plumbed current lows, ETF vaults contained about 61 million ounces of bullion. Now, there’s about $8.6 billion of loss-making metal weighing down portfolios in funds tracked by Bloomberg.

“That’s one of the main concerns for gold price action in the near term,” said Suki Cooper, a precious metals analyst at Standard Chartered, on Bloomberg TV on Friday. “Over the past couple of years, we’ve seen the key driver for gold changing from tracking real yields most closely to the start of this year being the dollar.”

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From:: Mining.com

Four Au/Ag Mineralized Trends Discovered on the La Tuna Property

By Anwesha Sengupta

VVC Exploration Corp (TSXV:VVC) announces that a third phase of exploration has defined 4 parallel to sub parallel, gold/silver mineralized zones / trends on the La Tuna Property (the “Property”), located in northern Sinaloa and Sonora states, Mexico. Rock sample and soil analysis, combined with rediscovered artisanal exploration / mine workings, show areas of significant gold/silver values with associated base metal mineralization in 4 mineralized trends over 400 m along strike and 300 m across strike, in the area of La Perdida and La Plomosa artisanal adits. The third phase of exploration in May, carried out by Peter Dimmell, P.Geo, a director of VVC, Jocelyn Pelletier, P.Geo. and Jose Lupe Lopez, personnel from contractor Invesmin St. Michel (ISM), followed evaluations in January and February by ISM personnel, which are described in a news release dated February 27, 2018.

Highlights
1) The exploration to date, all in La Perdida (LPE) / La Plomosa (LPL) area, in the eastern part of the La Tuna property, has defined four parallel to subparallel, mineralized trends, from north to south, LPE, PP1, PP2 and LPL (see Figures 1 and 2 on the Company’s website and filed on SEDAR) over 400 m along strike and 300 m across strike. LPE and LPL are defined by artisanal adits and pits while the two central ones are defined by pits and rock samples only. Based on the state of the pits and adits, which are overgrown by vegetation, including Saguaro cactus up to 50 cm across, it is estimated that the artisanal mining/exploration took place 40 to 50 years ago at least and there is no evidence of modern exploration, including drilling, in the area.

2) The gold / silver mineralization is associated with base metals and anomalous arsenic with samples with semi massive to massive pyrite / hematite giving the highest values of 61.1 g/t Au and 49.4 g/t Ag at La Perdida and >25 g/t Au and 104 g/t Ag and another grading 0.42 g/t Au and 630 g/t Ag at La Plomosa (see previous news release for adit assay info). Pyrite/chalcopyrite in narrow (25 cm) quartz veins in the artisanal pits in the LPL area also give good Au values with a selected grab sample (JP-029) giving 3.1 g/t Au and 158 g/t Ag with 2230 ppm Cu, 9140 ppm Pb and associated As at 1710 ppm from a pit located on Line L2. Mineralization which is variable in grade from background (<10 ppb Au) to the higher grade values, is associated with potassic alteration consisting of white micas (sericite), and pervasive pyrite/hematite.

3) Soil samples were taken to the east and west of the LPL adits, from the A/B horizon, by digging with a shovel until rock was encountered, at approximately 10-25 cm depth with the sample taken above the rock, either talus or outcrop. Results (see Figure 2 on Company`s website) show anomalous areas in Au, Ag and base metals on both lines, associated, but downhill, of the rediscovered artisanal pits. Values range for Au – background ( 50 ppb, Ag – background (0.2) to 4.36 ppm with 7 > 2 ppm, Cu – background ( 200 ppm, Pb – background ( 500 ppm and Zn – background ( 1000 ppm. Background, determined empirically, is considered to be higher than usual, possibly indicating weaker mineralization is present through the area. The soil results fit well, although somewhat downhill, of the 2 new mineralized trends and the adit trend defined in the LPL area, mainly to the north of the artisanal adits.

4) Narrow (1 cm or less) low sulphidation (LS) style banded quartz veins (L1 LS veins) were noted in ignimbrite float cobbles near the top of the hill on soil line L1. No outcropping ignimbrite units were noted and no anomalous values in gold or silver were found. Prospecting up hill, to the south, of the float location was not carried out due to lack of time.

Jim Culver, CEO of VVC, said, “We are particularly excited by the results of the third phase of exploration especially the recognition of four mineralized trends of gold/silver mineralization and that there is no evidence of modern exploration, including drilling, in the area of the artisanal adits and pits that define the trends. The sampling, both of rocks and soils, in a very small portion of the Property, gives high grade gold/silver values at surface. The next step is evaluation of the entire Property to discover and define the mineralized zones and their geological and structural setting, to be followed by a trenching / drilling program.”

About the La Tuna Project
The 100%-owned Property is a 3,532-hectare, early stage exploration property, with a strike length of 9 km, prospective for epithermal, high and low sulphidation gold/silver mineralization, located 65 km to the west of Los Mochis in the Cordillera Madre del Sur. The Property is in the Choix region, < 12 km from Minera Cornay May S.A de CV ‘s Alamo Dorado Mine (7.7M tons at 77 g/t Ag and 0.32 g/t Au). The area is close to infrastructure with roads, water reservoirs, powerlines and railways either close to, or crossing, the Property.

The Property lies in a complex accreted arc terrane that developed during the Mesozoic Era that hosts gold rich, porphyry copper, deposits in other parts of Mexico. The terrane is comprised of an interbedded sequence of bimodal volcanics and volcaniclastics that are weakly deformed. The Sonora tonalite-granodiorite intrusives, tuffs and high sulphidation alteration are interpreted to be a younger event, correlating with the Laramide Orogeny in the …read more

From:: Investing News Network

AngloGold swings back to profit days before new boss takes helm

By Cecilia Jamasmie

AngloGold Ashanti swings back to profit days before new boss takes helm

South Africa’s AngloGold Ashanti (JSE:ANG) (NYSE:AU), the world’s third-biggest producer of the precious metal, has swung to a profit just ahead of the company’s change of leadership.

Kelvin Dushnisky, who is leaving Barrick Gold at the end of August to become AngloGold’s new chief executive officer, will find the company in “good shape”, outgoing boss Srinivasan Venkatakrishnan said Monday.

Turnaround was mainly the product of increased output, reduced net debt and lower-than-expected restructuring costs.

“Most of the heavy-lifting has already been done,” Venkatakrishnan said commenting on the miner’s first-half of the year’s results. “I would have ideally have liked to have a number of things resolved, but it’s like writing an exam, you wish you had more time.”

The company, Africa’s top gold producer, posted earnings of $99 million for January-June, in line with what it had flagged to the market earlier this month, compared with a loss for the same period last year of $89 million.

Since then, the gold producer has had to sell some of its South African mines to stem losses in the country, where aging infrastructure, reserve depletion and accidents have raised costs and curbed output.

The turnaround in performance, said AngloGold, was the product of increased output, reduced net debt and lower-than-expected restructuring costs, which included cutting thousands of jobs at its domestic operations. The firm’s mines in South Africa now account for only 13% of total output.

The miner also attributed the improved results to the absence of one-off, non-cash settlement costs for silicosis class action claims.

Output from AngloGold’s mines in the rest of Africa is expected to rise to more than 50% of the total as production ramps up at the Siguiri mine in Guinea and Kibali in the Democratic Republic of Congo and as its idled Obuasi mine in Ghana restarts next year.

As a result, full-year production will be at the top end of the forecast range — between 3.3 million and 3.5 million ounces of gold — while costs are likely to be at the bottom of the $990 to $1,060 an ounce estimated earlier this year, AngloGold said.

Dushnisky’s challenges

AngloGold Ashanti swings back to profit days before new boss takes helm

Kevin Dushnisky’s job won’t be without challenges. (Image: Screenshot from Bloomberg video | YouTube.)

While AngloGold is now in a much better shape than a year ago, Dushnisky first months at the helm won’t be exempt of challenges.

AngloGold and its partner on the Kibali mine, Randgold Resources (JSE:RNG)(LON:RRS), are calling on Congo President Joseph Kabila to revise the recently approved mining code, which raised raise taxes and removed a stability clause in the previous law protecting miners from changes to the fiscal and customs regime for 10 years. Venkatakrishnan revealed the company may pursue international arbitration if its demands are not heard.

AngloGold has already filed for arbitration in a row with the Tanzanian government and may rethink development at the Sadiola mine in Mali if authorities don’t agree to fiscal agreements and approvals.

With files from Bloomberg.

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From:: Mining.com

DAVID MORGAN on Crony Capitalism

By David Morgan

Get Trading Recommendations and Read Analysis on TheMorganReport.com
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DAVID MORGAN on Crony Capitalism | http://www.themorganreport.com

In this extract from the ‘You Can’t Get Enough Of What You Don’t Need’ episode of Renegade Inc, David Morgan explains the ways in which capitalism and the free market are not working as they are meant to.

I’ve Been Helping My Subscribers Weather the Current Economic Mess. Now I Invite You to Join My Growing Circle of Successful Investors.

The Morgan Report is all about YOU and how you can build and preserve Wealth for generations to come. We know it can sometimes seem a daunting task to protect your assets and preserve or grow your wealth. Over 15 years ago, a small group of us started The Morgan Report and formed an exclusive membership organization to promote personal freedom, an honest money system, free market wealth accumulation and asset protection.

Thus was born The Morgan Report – since then we’ve helped 11,000-plus members scattered over the globe in every continent and over 100,000+ e-newsletter subscribers have read our weekly e-newsletter — This Week’s View from The Morgan Report.

Through our publication, The Morgan Report, we provide you with ways to achieve greater financial security and wealth in all sorts of environments.

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Today’s monetary system is based upon a lie. The lie is that you can get something for nothing, or perhaps more simply stated, wealth can be printed. History has shown throughout 5000 years that whenever a country has tried to maintain this illusion (lie), failure has been the result. We invite you to learn more about what The Morgan Report can do for you. Click on the Learn More About The Morgan Report button now!

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From:: David Morgan

It’s Time For Serious Investors To Get On Board

By dudley

A big special thanks to our new and long time subscribers.

I continue to believe that gold, silver and resource shares are in a bottoming process.

Those bottoms might, just might have been reached last week, but no one knows for sure.

There are so many interesting opportunities with gold, silver, uranium companies and much more. And let’s not forget the long-term stock warrants trading on those companies.

For me, there is only one way to play this ‘game’ by investing in quality junior mining companies and/or long-term stock warrants trading on those companies.

If you are not familiar with stock warrants, you can receive The Stock Warrant Handbook for FREE by visiting, http://CommonStockWarrants.com along with more freebies.

As well, many investors are finding great opportunities with warrants on the U.S. stocks in other sectors, bio-techs, pharmaceuticals, banking, blank check companies, etc.

Remember that only 25% or so of my personal portfolio is in stock warrants, the balance are common shares in the junior mining companies and I am on the hunt for new additions to my portfolio.

There are many interesting opportunities in stocks as well as the stock warrants available today, so if you are not a current subscriber, LET’S GET YOU STARTED NOW.

The next several years, 2018 – 2020 will see some exciting times in the PM sector and I am looking to make a fortune. Do you want to follow me? Let’s have some fun and make money together.

Recent Articles On Our Websites:

From the shores of Lake Chapala, Jalisco, Mexico

Dudley Pierce Baker
Founder-Editor
http://CommonStockWarrants.com
http://JuniorMiningNews.com

…read more

From:: Common Stock Warrants