Craig Hemke from TF Metals Report – Thu 9 Nov, 2017

By Cory What’s it going to take for the Safe Haven bid to pick up steam?

Craig Hemke, Founder and Editor of TFMetalsReport.com joins me to look at the idea of a safe haven bid for the markets. We look at the moves in US markets today as well as the further flattening of the yield curve (check out the FRED chart below of the 10/2 spread). Investors seem not to worry about either of these factors today and continue to play the buy the dip game. Hard to expect that to change unless we see a continuation of the moves down.

Click here to visit Craig’s website for more metals focused commentary.

Download audio file (2017_11_09-Craig-Hemke.mp3)

…read more

Source:: The Korelin Economics Report

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Update from Rye Patch Gold – Thu 9 Nov, 2017

By Big Al

Rye Patch Gold discusses safety record at Florida Canyon Mine

RYE PATCH GOLD CELEBRATES FIVE YEAR SAFETY
MILESTONE AT FLORIDA CANYON

Vancouver, British Columbia, November 9, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) announces the Florida Canyon mine in Nevada has achieved the significant milestone of five continuous years without a lost-time accident.

Rye Patch Gold acquired the Florida Canyon mine in 2016 and began production in the spring of 2017 continuing the safety culture under the leadership of General Manager Mike Iannacchione, PE. “Safety is a cornerstone of success and the team at Florida Canyon has built a magnificent foundation to which Rye Patch can continue to create successful operations,” said President and CEO William Howald.

This summer Florida Canyon was recognized by the Nevada Mining Association with the top safety award in the small mine category.

About Rye Patch Gold Corp.
Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged in the mining and development of quality resource-based gold and silver mines and projects along the established Oreana trend in west central Nevada. Leveraging its strong financial position and cash to acquire the operating Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a trend‑scale platform with mining operations, resource projects and exploration upside.

The combination of operations and organic growth along a major Nevada gold trend positions Rye Patch as an emerging mid-tier gold producer with tremendous value‑added potential. For more information, please visit our website at www.ryepatchgold.com.

On behalf of the Board of Directors
William C. (Bill) Howald, CEO & President
Rye Patch Gold Corp

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.

Email us

Visit Us

…read more

Source:: The Korelin Economics Report

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Exclusive KE Report Commentary – Thu 9 Nov, 2017

By Cory Introduction to International Frontier Resources – Oil In Mexico

Chris Temple introduced International Frontier Resources (TSX.V:IFR and OTCQB:IFRTF) to me at the New Orleans Investment Conference. After doing my DD I thought it would be good to introduce the Company to all of you. Steve Hanson the CEO and President joins me to share the details on his Company.

IFR is focused on oil in Mexico. If you missed it recently Mexico opened up its oil industry to outside investment and IFR was one of the first small cap companies to go through the bid round last year. The Company was granted the Tecolutla block and is working through permitting currently. Listen to find out the plans moving forward and its key joint venture with a large Mexican oil company.

Click here to visit the IFR website for more information.

Download audio file (2017_11_08-Steve-Hanson-IFR.mp3)

…read more

Source:: The Korelin Economics Report

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Chris Temple from The National Investor – Thu 9 Nov, 2017

By Cory Markets sell off today picking up steam… No tax reform today

Chris Temple and I focus on the sell off today in the US markets. With tax reform staling in the Senate, investors are bailing and markets are down 1%. Money is not flowing into the safe havens of gold and treasuries as much as we would like to see. What will be interesting is if the drop today will be another buy the dip move tomorrow.

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

Download audio file (2017_11_09-Chris-Temple.mp3)

…read more

Source:: The Korelin Economics Report

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The Crazy (and Profitable) World of Initial Coin Offerings

initial coin offerings 1

By Andy Gordon

Editor’s Note: Today’s article comes from Andy Gordon, co-founder of Early Investing LLC.

Initial coin offerings are on fire. Known as ICOs for short, they differ from venture capital and crowdfunding as a way for young companies to raise money.

Coins, not equity, go on sale. Coin owners can use the coins to access the company’s services if and when it becomes available. In the meantime, if the coins are popular and attract a lot of buyers, their price can go up – sometimes by a lot. They’re then liquid enough to buy and sell on specialized exchanges.

So far this year, 130 ICOs have raised $2.7 billion. That’s an enormous amount of money. These offerings are now raising more funds for the cryptocurrency community than traditional venture capital rounds. Take a look at this chart…

But the news isn’t all good. In July, the SEC said that non-utility tokens could be treated as securities in future ICO raises. The warning did nothing to slow the explosive growth of ICOs.

When China banned ICOs and shut down cryptocurrency exchanges, growth paused and prices fell. But within a week, they were rebounding strongly.

Classic signs of a bubble, right? Good news gets amplified. Bad news gets blown off… until the bad news utterly overwhelms the good news and bursts the bubble.

Is that what’s happening now?
Bad News Does Not a Bubble Make
There’s plenty of bad news and talk of bubbles going around these days.

Case in point: Bancor.

It raised $153 million in a matter of hours this past June. Like a lot of ICOs, its idea can move the needle… but only if it works.

Bancor’s technology creates Smart Token contracts that can serve as their own market makers, automatically providing so-called price discovery and liquidity to other coins.

Bancor’s technology has come under criticism – a big reason why its price has dropped more than 50% from its ICO price.

Is Bancor a scam or dud? Absolutely not.

The size of the opportunity it’s targeting is huge. Bancor’s team is more than credible, and the technology is complex enough to warrant a large fundraising effort.

Tezos, another blockchain-based smart contract company, has also attracted the wrong kind of publicity.

Its software formalizes the process of upgrading a blockchain protocol in order to avoid forks and mitigate power struggles within cryptocurrencies. Its ICO collected an eye-opening $232 million.

It’s another BIG idea – and one that is much needed. But its husband-and-wife co-founders are enmeshed in a spat with the foundation’s director, and accusations are flying in both directions. The optics are not good.

But, again, not something I’d call a scam or dud.

Listen, I’ve been a big believer in bitcoin, cryptocurrencies and blockchains for a long time. It’s another exciting form of early investing, where the upside is special. But I’m not naïve about the market either.

Most ICOs will struggle to succeed.

Like startups, ICOs raise money at a very early point, pre-revenue and often pre-product. Nobody is entirely sure how well the product will work. Even if it does work, nobody knows how it will …read more

Source:: Investment You

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Negative Divergence in the Gold Stocks

By Jordan Roy-Byrne CMT, MFTA

After a severe selloff, precious metals have enjoyed a bit of a respite. Corrections are a function of time and/or price. The correction to the recent selloff has been more in time than than price. Metals and miners have stabilized over the past nine trading days but have not rebounded much in price terms. Gold has barely rallied $20/oz while GDX and GDXJ have rebounded less than 4% and 5% respectively. In addition to the weakness of this rally, the gold stocks are sporting a negative divergence and that does not bode well for an end of the year rally.

The negative divergence is visible in the daily bar charts below. We plot Gold along with the gold stock ETF’s and are own “mini” GDXJ index. The price action in Gold since October looks constructive. The market has held its October low and the 200-day moving average. It could have a chance to reach $1300-$1310. However, the miners are saying no to that possibility. Everything from large miners to small juniors made a new low while Gold did not. The second negative divergence is in regards to the 200-day moving average.

Gold has corrected $100/oz over the past seven weeks but the relevant sentiment indicators do not indicate much of a shift in sentiment. In the chart below we plot the net speculative position in Gold as a percentage of open interest (Gold CoT) and the GLD put-call ratio. The CoT remains elevated at 40%. The two important lows of the past 12 months occurred at 16% and 26%. The put-call ratio (which is smoothed by a 20-day moving average) has some work to do before it reaches a level associated with market lows. Finally, Gold is not oversold based on a simple 50-day ROC.

The relative weakness and negative divergence in the gold stocks coupled could portend to lower Gold prices by the end of 2017. Gold has important support at $1260 and if it loses that it threatens a decline to $1200-$1220. The gold stocks are lagging Gold across the board with the worst performers being the smaller juniors. Given the weak technicals and questionable fundamentals for Gold, we will continue to wait for lower prices, worse sentiment and a low risk buying opportunity in the coming months. The good news is those who buy weakness in the months ahead can position themselves for strong profits in 2018. In the meantime, find the best companies and evaluate their potential value and catalysts that will drive buying. To follow our guidance and learn our favorite juniors for 2018, consider learning more about our premium service.

Jordan Roy-Byrne CMT, MFTA

Jordan@TheDailyGold.com

…read more

Source:: The Daily Gold

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Gold Producer Posts Q3 Beat on Lower Costs

Source: Streetwise Reports 11/09/2017

BMO Capital Markets reported the Q3/17 financial and operating results for this international, mid-tier gold miner.

A Nov. 7 BMO Capital Markets research note indicated that IAMGOLD Corp. (IMG:TSX; IAG:NYSE) achieved a Q3/17 headline earnings per share (EPS) of $0.07, which was a beat due to costs being lower than estimated, according to analyst Andrew Kaip. BMO and consensus expected an EPS of $0.02.

The Canadian company’s operating cash flow of $77 million ($77M) was exactly in line with BMO’s estimate, Kaip noted. Free cash flow of $36M was three times the expected $12M, “as capital spending came in below expectations ($41M versus BMO at $65M).” On this result, IAMGOLD lowered capital guidance for 2017 by $25M to $225M (+/-5%).

Production in Q3/17 of 217,000 ounces (217 Koz) was a slight miss, coming in below BMO’s estimate for 223 Koz, “on lower-than-expected production from Rosebel,” wrote Kaip. Yet, the company reiterated 2017 production guidance of 845–885 Koz gold.

All costs during the quarter were lower than anticipated. Total cash costs were $771 per ounce ($771/oz) versus the $797/oz estimate. All-in sustaining costs (AISCs), excluding royalties, were $969/oz and compared to the projected $1,059/oz. Consequently, “AISC guidance was narrowed to $1,000–1,040/oz (was $1,000–1,080/oz),” relayed Kaip.

As of Sept. 30, 2017, Kaip added, IAMGOLD had “cash and short-term investments of $810M and long-term debt of $389M, for net cash of $422M.”

In other news, a near-term catalyst for IAMGOLD—”by H1/18″—is completion of both a preliminary reserve estimate for and permitting work at the Saramucca deposit, Kaip said. The company “is working towards advancing the project toward production in 2019.”

BMO Capital has an Outperform rating and a $5.75 per share target price on IAMGOLD, whose stock is currently trading at around $8 per share.

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.

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( Companies Mentioned: IMG:TSX; IAG:NYSE,
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Kinross shares jump on earnings beat

By analyst

By MINING.com Editor

Shares in Kinross were up sharply in after hours trading on the NYSE on Wednesday following the release of the Canadian gold miner’s third quarter results which despite declines in earnings and revenues beat expectations.

Building on solid gains during regular trading despite a lackluster gold price Kinross stock is now worth $5.2 billion in New York and boasts year-to-date gains of more than 34%.

The Toronto-based miner’s third quarter earnings came in at $0.05 per share against expectations of $0.02 per share. Revenue for the September quarter was down nearly 9% at $828 million, compared to $910 million in the same period last year. Quarterly all-in sustaining cost was $937 per gold equivalent ounce, compared to $1,001 in Q3 2016.

Total gold production for the quarter was just shy of 654,000 attributable gold equivalent ounces down from 684,000 produced in the third quarter of 2016. Kinross said production guidance for 2017 is tracking towards the higher end of approximately 2.5-2.7 million ounces while all-in sustaining costs are likely to come in at the lower end of its guidance range of $925-$1,025.

The Canadian based miner expects to be within its capital expenditures guidance of $900 million for 2017.

The post Kinross shares jump on earnings beat appeared first on MINING.com.

…read more

Source:: Infomine

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The Strange Behavior of Gold Investors from Monday to Thursday

By Dimitri Speck

Known and Unknown Anomalies

Readers are undoubtedly aware of one or another stock market anomaly, such as e.g. the frequently observed weakness in stock markets in the summer months, which the well-known saying “sell in May and go away” refers to. Apart from such widely known anomalies, there are many others though, which most investors have never heard of. These anomalies can be particularly interesting and profitable for investors – and there are several in the precious metals sector as well. Today I am going to introduce one of those to you.

As Donald Rumsfeld, former secretary of defense knew, there are things we know we know, things we know we don’t know, and things we don’t know we don’t know (unfortunately he neglected to consider that there are also things we think we know that just ain’t so, such as “Saddam has WMDs” – but let’s not digress). Anyway, Seasonax knows them all! [PT]

Gold investors dead asleep for days?

To this end we are going to examine the performance of gold and gold stocks broken down by days of the week.

The first chart shows the annualized performance of the gold price in USD terms since 2000 (black bar), as well as the annualized gain generated on individual days of the week (blue bars).

I have measured the returns based on closing prices, thus the performance achieved on Tuesday equals the average percentage change between the close of trading on Monday and the close on Tuesday.

Gold, performance by days of the week, 2000 to 2017. Friday stands out markedly

As the chart illustrates, one day really stands out: Friday. With an annualized return of 7.50 percent it reflects almost the entire annualized gain of 8.84 percent generated by the gold price over the time period under review.

By contrast, almost nothing noteworthy happened in the gold market from Monday to Tuesday. On Tuesday prices even declined slightly on average.

The difference – which has been measured over a period of no less than 4,585 trading days – is obviously quite significant. This suggests that these patterns are not a coincidence.

Gold investors indeed appear to be mired in deep sleep from Monday to Tuesday, or at the very least they are showing very little enthusiasm on these days.

The days of the week under the magnifying glass

What exactly was the cumulative trend in this pattern over time? The next illustration shows the indexed performance of gold since the turn of the millennium in gold color, as well as that of individual days of the week in other colors.

Gold, cumulative performance by days of the week, 2000 to 2017, indexed.
A steady uptrend was in evidence on Fridays – click to enlarge.

As the chart shows, prices essentially tended to move sideways over the first four days of the week. Only in 2009 did Wednesday (green line) manage to generate a somewhat stronger average return as well.

The gains in the gold price over the entire period of almost 17 years were primarily achieved …read more

Source:: Acting Man

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Jordan Roy-Byrne – Techncial Commentary – Wed 8 Nov, 2017

By Cory The Discrepancy Between PM and PM Stocks

Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins me today to shares his thoughts on the continued discrepancy between precious metals (especially gold) and the underlying stocks. With gold up 10% year to date you would expect the stocks to be up even more rather than flat for the year – as judged by GDX. Add in the recent short term lower low in GDX, it is hard to get excited int he near term. We also look at how gold is preforming compared to foreign currencies. Overall this is a better market for PMs but the going is still tough.

Click here to visit Jordan’s site for more PM commentary.

Download audio file (2017_11_08-Jordan-Roy-Byrne.mp3)

…read more

Source:: The Korelin Economics Report

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