Elon Musk’s Biggest Fear, Realized

Elon Musk Tweet

By Sean McCloskey

This post Elon Musk’s Biggest Fear, Realized appeared first on Daily Reckoning.

Have you heard about Atlas, the most advanced humanoid robot on the planet?

I’ll bet the farm you’ve never seen anything like it before.

Last week, former Alphabet subsidiary Boston Dynamics released new video demonstrating their Atlas robot’s new capabilities.

It could revolutionize what we think the “factory robot” can do. Atlas can be knocked off its path and then correct itself. It can do backflips, too.

It has dexterity no robot has ever had. What does that mean for you and me?

How You Get a Robot to Do Backflips

The trend to “humanize” robotics has captured the minds of scientists for decades.

But until now the technology has failed to give these robots the ability to move and react quickly to changing conditions around them.

How does a robot know to circumvent spills or other factory hazards?

What happens when it gets bumped into while running supplies from one side of a warehouse to the other?

How does it avoid getting bumped in the first place?

To be able to “think on one’s feet” has traditionally been the edge every human worker has held over its robot counterpart.

But the gap is closing quickly.

The dexterity Atlas shows as it navigates hazards and performs tasks completely reinvents how we need to consider automated workforces.

But the video has also raised the ire of some. Even Elon Musk, who recently tweeted:

It’s important to take Musk’s tweet with a grain of salt. For one, Musk’s Space X and Tesla companies are leaders in AI and robotics.

But Musk willingly plays devil’s advocate. It must be acknowledged that even the best innovations and advances are not without their issues or unintended consequences.

But technology, even as advanced as Atlas, is not something we should fear. We should embrace the change. Or at the very least get used to it.

Because like it or not, the robotics trend will continue to imprint itself across major industries more and more in the coming years.

Which leads me to six important “laws” of technology that help explain what’s happening in robotics today.

In 1986, technology historian Melvin Kranzberg established six crucial rules to follow when evaluating technology’s impact on our world.

Today, I’d like to share these rules with you and quell some of the alarmism.

The Six Laws of Tech You Need to Know
1. “Technology is neither good nor bad; nor is it neutral.”

Kranzberg’s first law is perhaps the most important one to remember. There is no inherent good or evil to any technology. The historical, political and economic context weighs far more heavily on whether a technology is good or bad.

This includes robots like Atlas.

2. “Invention is the mother of necessity.”

Tech innovations almost always require new advances before becoming truly useful. This powers the development of new ideas and eventually leads to new industry growth.

Take electric cars, for example. This trend included the development of new batteries, new lightweight materials, new infrastructure and so on.

3. “Technology comes in packages, big and small.”

Take your smartphone. Manufacturers created the …read more

Source:: Daily Reckoning feed

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Richard Postma – The Doctor Is In – Thu 7 Dec, 2017

By Cory The Nuances Of The Move Down In PMs

With the precious metals moving down again today and gold breaking the $1,260 support level we need to look at where this selloff could stop. Doc joins me to recap some levels he mentioned months ago in the $1,220 range. We also look to some of the other markets that can impact the metals. Unfortunately these sometimes correlated markets are not indicating that the metals should be selling off this week… except for Bitcoin which continues to skyrocket.

Download audio file (2017_12_07-Doc.mp3)

…read more

Source:: The Korelin Economics Report

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Massive Oyu Tolgoi mine to more than double gold production in 2018

By analyst

By Cecilia Jamasmie

Rio Tinto-controlled Turquoise Hill (TSX:TRQ) is expecting its majority-owned Oyu Tolgoi copper and gold mine in Mongolia to churn in 2018 more than double the amount of the precious metal forecast for this year, with operating costs dropping about 2.8%.

In an update that went almost unnoticed, the Canadian miner said earlier this week it expected the massive Mongolian mine to produce 240,000 to 280,000 ounces of gold concentrate next year, more than double the 100,000 to 140,000 ounces initially expected for 2017.

The Vancouver-based company also forecast the mine to generate 125,000 to 155,000 tonnes of copper in 2018, slightly less than the 130,000 to 160,000 tonnes predicted for this year.

Operating cash costs for 2018 are expected to be about $700 million, down from the $720 anticipated for this year as a result of lower concentrator and logistics costs.

The mine is expected to be world’s third-largest copper operation at peak production in 2025, with output of over 550,000 tonnes per year.

Capital expenditures for 2018 on a cash-basis are expected to be approximately $150 million for open-pit operations and $1.1 billion to $1.2 billion for underground development, Turquoise Hill noted.

Open-pit operations are expected to mine in Phase 6 in early 2018 and Phase 4 throughout the year, while it will also expects to process stockpiled ore in 2018.

The increased gold production relative to the 2016 technical report, Turquoise Hill said, can be explained by the splitting of Phase 4 into two parts (4A and 4B) and also by bringing production forward from future years, it noted.

Situated in the southern Gobi desert of Mongolia, about 550 km south of the capital, Ulaanbaatar and 80 k north of the border with China, Oyu Tolgoi is jointly owned by the government of Mongolia (34%) and Turquoise Hill (66%, of which Rio Tinto owns 51%).

The mine is expected to be world’s third-largest copper operation at peak production in 2025, with output of over 550,000 tonnes per year.

While Oyu Tolgoi is Mongolia’s highest profile asset, the country hosts a number of other copper, gold and coal mines and projects, including Canada’s Erdene Resource Development (TSX:ERD), the company that literally struck gold earlier this year after finding its new gold project was richer than previously thought.

Australian explorer Xanadu Mines (ASX:XAM) is also among the established companies in Mongolia, with its underway Kharmagtai copper-gold project, south-east of Ulaanbaatar, returning exceptional results in the first months of this year.

Searching for the next Oyu Tolgoi

Aware of the country’s mineral potential, Rio Tinto and Turquoise Hill revealed earlier this year they are already exploring the area close to Oyu Tolgoi, following the country’s renewed efforts to attract foreign investment.

In May, the landlocked country bordering China and Russia decided to open more than one-fifth of its territory for mining exploration, hoping to shore up its finances following an International Monetary Fund-led bailout.

Since mining accounts for around 25% of Mongolia’s GDP and more than 80%of exports, experts believe that increasing mining exploration could potentially raise the Asian nation’s GDP and economic security.

The post Massive Oyu Tolgoi mine …read more

Source:: Infomine

The post Massive Oyu Tolgoi mine to more than double gold production in 2018 appeared first on Junior Mining Analyst.

‘Prospective Explorer’ Working Toward Maiden Resource

Source: Streetwise Reports 12/07/2017

Cormark Securities provided an update on this company’s gold project in central Wyoming.

In a Nov. 15 research note, Tyron Breytenbach, an analyst with Cormark Securities Inc., reported that GFG Resources Inc. (GFG:TSX.V; GFGSF:OTCQB) has identified, via drilling, new areas of mineralization at its Rattlesnake Hills project.

GFG expanded the North Stock target “by 100 meters (100m) to the west, drilling 0.95 grams per ton gold over 22.9m outside of the previous mineralization footprint,” indicated Breytenbach.

Drilling of the Middle Ground target, the brownfields area between North Stock and Antelope Basin, “continues to return economic mineralization,” he added. By connecting those two targets, if possible, GFG could extend the overall mineralized strike length to 1.1 kilometers.

As for the overall size of the resource at Rattlesnake Hills, Cormark estimated it to be an open-pittable 2 million ounces based on results from the 80,000m of historical drilling and from this year’s 43-hole, 15,000m drill program.

As for near-term upcoming catalysts, GFG will announce the remaining outstanding drill results. “We expect a steady flow of news into the final months of 2017,” Breytenbach wrote. Subsequently, the mining firm is expected to release a maiden resource estimate for Rattlesnake Hills in H1/18, “which will set a baseline valuation for this early-stage but prospective explorer,” added the analyst.

Because “valuations across the sector are down,” Breytenbach explained, Cormark lowered its enterprise value per ounce estimate on Rattlesnake Hills to $35/ounce from $40/ounce and, consequently, its target price on GFG to CA$1.70/share from CA$2.10/share.

GFG Resources’ shares are currently trading at around $0.50. Cormark has a Buy recommendation on the corporation.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of GFG Resources, a company mentioned in this article.

Additional disclosures about the sources cited in this article

( Companies Mentioned: GFG:TSX.V; GFGSF:OTCQB,
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This is the breakthrough company of Mines & Money 2017

By analyst

This is the breakthrough company of Mines & Money 2017

By Frik Els

Apart from gold’s big bugbear which some regard with such loathing they cannot bear to call it by name (starts with a b and ends in coin), the buzz at the 2017 Mines & Money conference in London was – unsurprisingly – around battery materials for the booming electric vehicle and energy storage market.

Presentation after presentation featured (often overly) optimistic forecasts about how the nascent industry will fire up already hot commodities like cobalt, lithium, vanadium and manganese, and how it will spur a new supercycle in copper and nickel.

But for your reporter, a company mining an ore for perhaps the most everyday commodity in mining – alumina – stole the show.

Granted, there is a connection with electric vehicles but the Perth-based junior is also addressing even faster growing markets.

4N goes for an eye-watering $28,000 per tonne. And that’s the long-term contract price – spot prices in Japan for this level of purity recently hit $40,000 a tonne

Kaolin. Image: Altech

What made the presentation of Iggy Tan, MD of Altech Chemicals who’ve also built a lithium company, particularly impactful is its simplicity.

Sapphire is formed naturally from aluminum oxide and is almost as hard as diamond. It is used in LEDs, cellphone and watch displays.

To make synthetic sapphire (its transparent – the gems are blue due to presence of titanium and iron) you need high purity alumina.

The current process to manufacture high purity alumina is inefficient.

Bauxite, the most common alumina ore, is refined to a smelter grade of 99.5% alumina which is then turned into aluminum metal only to be dissolved back into 99.99% (4N) alumina which is of sufficient purity to make sapphire. 4N alumina is also used to make anode/cathode separators in lithium-ion batteries.

ASX-listed Altech owns 100% of a kaolin deposit, a high grade aluminous clay, in Western Australia 130km from Perth’s Fremantle port. The company is bypassing the intermediate steps with plans to ship ore to a plant in Malaysia to produce 4N purity alumina.

Turning kaolin (which also finds application as a whitening agent) into alumina is a process first developed by the US Bureau of Mines in the 1980s.

The price gaps between different powders are stark. The smelter stuff sells for only $400 a tonne. For 99.9% (3N) alumina the price jumps to $7,000.

High purity alumina. Image: Altech

The 4N product Altech is targeting goes for an eye-watering $28,000 per tonne. And that’s the long-term contract price – spot prices in Japan for this level of purity recently hit $40,000 a tonne. Altech says its production cost is under $10,000.
That would catapult the company to the top spot compared to current producers
It’s a small, but rapidly growing market. Global demand for high purity alumina was approximately 25,300 tonnes in 2016. Next year demand will top 34,000 tonnes. It is expected to grow at a rate of 16.7% through 2024 hitting nearly 87,000 tonnes six years from now.

From a 30-year (first phase) 1.2m tonne reserve grading 30% Al2O3 Altech’s ambitions are for a 4,500 tonnes per year alumina …read more

Source:: Infomine

The post This is the breakthrough company of Mines & Money 2017 appeared first on Junior Mining Analyst.

Interview with Korelin Economics Report: Rising Real Rates Pressuring Gold & Silver

By Jordan Roy-Byrne CMT, MFTA

Jordan Roy-Byrne joins me today to outline some of the factors that have us concerned about the metals markets. We discuss short and long term yields as well as real interest rates. Also a look at some of the largest mining company charts we are seeing these break to new lows for the year. This could all be the fall washout of the year for metals but that action of the stocks are a cause for concern.

Click Here to Learn More About & Subscribe to our Premium Service

…read more

Source:: The Daily Gold

The post Interview with Korelin Economics Report: Rising Real Rates Pressuring Gold & Silver appeared first on Junior Mining Analyst.

Rick Ackerman and Technicals – Wed 6 Dec, 2017

By Cory Technical Comments on Uranium, Gold and Gold Stocks, and US Markets

Rick Ackerman is back today and starts off by looking at a couple Uranium charts as requested. We also look at gold which is approaching a target Rick thinks it could bounce off as well as some comments on GDX. US markets and a target 10 weeks in the making is being approached so we wrap up the call with a focus there.

Download audio file (2017_12_06-Rick-Ackerman.mp3)

Click here to visit Rick’s site for more technical commentary.

…read more

Source:: The Korelin Economics Report

The post Rick Ackerman and Technicals – Wed 6 Dec, 2017 appeared first on Junior Mining Analyst.

Smoking-Hot Profits for Your New Year

By Ray Blanco

This post Smoking-Hot Profits for Your New Year appeared first on Daily Reckoning.

The year ahead could bring a whole new meaning to “Garden State.”

That’s because the next state to legalize recreational marijuana could be New Jersey.

Not long ago, that would have been unthinkable.

Gov. Chris Christie has been a staunch opponent of legal pot for the last seven years. Pot wasn’t going to pass with Christie in the governor’s mansion — no way, no how.

But last week’s election changed all that.

The Polls Don’t Lie — People Want Weed

Democrat Phil Murphy will be sworn in as New Jersey’s governor in January, bringing with him an overwhelmingly pro-pot stance.

Murphy believes that marijuana should be legal for adults 21 years old or older. He’s promised to sign a legalization bill into law within the first 100 days of his term.

That means by April, recreational pot could be legal in New Jersey.

At the end of the day, what we’re really seeing from Murphy here is a play for tax revenue. A recent study showed that legal recreational marijuana could generate $300 million a year for the state’s coffers.

More importantly, New Jersey could be the prototype for other neighboring states mulling over the possibility of legalizing weed.

If states like New York and Pennsylvania see piles of money rolling in without measurable negative side effects, it’ll only be a matter of time before they follow suit.

But New Jersey wasn’t the only place that saw pot victories at the polls recently

Canada also took another major step closer to full legalization.

Another Leap Forward Towards Full Legalization

Last Monday, Canada’s House of Commons passed Bill C-45 by a vote of 200-82.

The bill would legalize marijuana for recreational purposes, keeping Canada on track for the federal government’s plan to legalize cannabis use by next summer. Now the bill moves to the Senate.

At present, only medical uses of marijuana are legal in Canada. But the key is that cannabis is legal at a federal level as a substance — something that’s not the case here in the U.S.

In the U.S., weed maintains a Schedule I drug status, meaning there’s “no currently accepted medical use and a high potential for abuse.”

In other words, the feds in the U.S. still classify marijuana as worse than crack cocaine, meth and PCP.

If that weren’t stupid enough, that federal drug classification has a major negative impact on American businesses trying to compete in the pot markets.

That key difference in legal status gives Canada a major edge.

But still there’s a lot of low-hanging fruit in the legal pot arena right now in both the U.S. and Canada.

With new states coming online with legal weed in the months ahead and a major longer-term uptrend in pot stock prices, you have a very exciting situation shaping up for 2018.

Ray Blanco
for The Daily Reckoning

Editor’s note: The booming pot industry could be your best chance at life-changing wealth in 2018.

Click here now to see this urgent message from my colleague Ray.

The post Smoking-Hot …read more

Source:: Daily Reckoning feed

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Jordan Roy-Byrne – Techncial Commentary – Wed 6 Dec, 2017

By Cory Major Miners and Yields All Hurting The Metals

Jordan Roy-Byrne joins me today to outline some of the factors that have us concerned about the metals markets. We discuss short and long term yields as well as real interest rates. Also a look at some of the largest mining company charts we are seeing these break to new lows for the year. This could all be the fall washout of the year for metals but that action of the stocks are a cause for concern.

Click here to visit Jordan’s site.

Download audio file (2017_12_06-Jordan-Roy-Byrne.mp3)

…read more

Source:: The Korelin Economics Report

The post Jordan Roy-Byrne – Techncial Commentary – Wed 6 Dec, 2017 appeared first on Junior Mining Analyst.

News from Tim Howe – Wed 6 Dec, 2017

Image result for cal thomas

By Big Al

Big Al guarantees that you are going to like this editorial submitted by my friend Tim.
Starving the beast

CAL THOMAS Tribune Content Agency

One way to kill a predatory animal is to deny it sustenance. The tax-cut bill passed by the Senate, if it clears a conference with the House and President Donald Trump signs it, may be the first step toward starving the big government beast.

Reporting on the Senate vote early Saturday morning reflected the biases of various media outlets. Predictably, The New York Times and Washington Postcharacterized the cuts as favoring the “rich,” while doing nothing for the poor. Bulletin: Relatively few low-income people pay federal income taxes. They join the 46 percent of Americans who pay no income taxes to Washington.

Citizens Against Government Waste, a private, nonprofit, nonpartisan organization focused on eliminating waste and inefficiency in the federal government, expressed a view opposite that of the major media. President Thomas Schatz said: “This taxpayer-first bill lowers tax rates on American families; simplifies the tax code; reduces the tax burden on small businesses; and makes American companies more competitive globally.”

Two frustrating things about this: One is that too many people expect more from government than they expect from themselves. The Founders never intended government to be a nanny. That it has become one, egged-on by many politicians who preserve their careers by making people dependent on Washington, is why liberty shrinks and debt deepens.

The second and perhaps biggest frustration is that solutions to growing debt exist, but are ignored by many of these same politicians. They fear attacks by liberals who claim conservatives don’t care about children, the sick and elderly. One need only consider Speaker Paul Ryan’s proposal from a few years ago to reform Medicare and Social Security. Rather than debate the merits of Ryan’s proposal, a liberal group hired an actor who was shown pushing an elderly woman in a wheelchair over a cliff.

Google “cut federal spending,” and you will see dozens of suggestions. Mostly liberal and some Republican politicians don’t want to embrace them because cutting spending would reduce their power over us.

Two of these proposals deserve serious attention. One comes from Downsizing the Federal Government, a website designed to highlight where federal spending goes and how to reform each government department, which proposes shrinking “every federal department by cutting the most harmful programs. This study proposes specific cuts that would reduce federal spending by almost one-quarter and balance the budget in less than a decade.”

The philosophy behind this proposal (which is too long to reprint, so look it up) is this: “The federal government has expanded into many areas that should be left to state and local governments, businesses, charities, and individuals. That expansion is sucking the life out of the private economy and creating a top-down bureaucratic society that is alien to American traditions. So cutting federal spending would enhance civil liberties by dispersing power from Washington.”

A similar proposal comes from the Heritage Foundation, a Washington-based conservative think tank. Nothing …read more

Source:: The Korelin Economics Report

The post News from Tim Howe – Wed 6 Dec, 2017 appeared first on Junior Mining Analyst.