Dana Lyons Commentary – Fri 30 Mar, 2018

By Cory It’s Time To Be Defensive With Your Portfolio

Fund Manager Dana Lyons joins me today to share his thoughts on the US equity markets. The markets inability to climb back to all time highs has Dana thinking the top might be in already this year.

Download audio file (2018_03_30-Dana-Lyons.mp3)

Here are a couple websites of Dana’s that you can check out.

The Lyons Share Pro
Dana’s free blog
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Source:: The Korelin Economics Report

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Illegal gold miners invade Grace Mugabe’s farm

By analyst

By Valentina Ruiz Leotaud

About 400 illegal gold miners invaded a farm that belongs to former Zimbabwean first lady, Grace Mugabe.

Local newspaper Newsday reports that Mugabe was touring the farm, located in the northern village of Mazowe which is some 40 kilometres north of Harare, when she ran into the miners. They were allegedly uprooting lemon trees, digging shafts and loading gold ore into lorries.

“When Grace arrived at the farm and tried to confront the panners, they immediately broke into Kutongwa Kwaro, a song by Jah Prayzah synonymous with President Emmerson Mnangagwa’s ascension to power at the expense of her husband, former President Robert Mugabe, who was ousted following a military intervention,” Newsday’s story reads.

In the verbal confrontation with the politician, the so-called “zama zamas” said that if Mugabe wanted them out, she would have to speak to their boss. They claimed they were employed by a Chinese miner but declined to provide a name.

Following the altercation, Mugabe brought the matter to the police. “The crowd, which was being led by one known as Nyazvigo, started to shout obscenities at me and continued with their unlawful activities. The illegal activities have since destroyed my irrigation infrastructure, which feeds lemons pool section, and there is massive land degradation,” the former first lady’s police statement reads, according to a Business Live report.

The situation forced Mugabe to have a taste of her own medicine. Back in 2015 and under her command, police destroyed maize and groundnuts crops on the same farm when they forcefully evicted villagers to take control of the land.

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Source:: Infomine

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Can You Accurately and Consistently Time the Market?

By Alexander Green On the last day of our 2018 Investment U Conference at the beautiful Four Seasons in Las Vegas earlier this month, my friend and colleague Mark Skousen – economist, author, editor of Forecasts & Strategies, and fellow Investment U contributor – squared off against me for what was promoted as “The Ultimate Fight.”

Our debate? Is it really possible to accurately predict the future in financial markets?

Mark took the podium first, arguing the affirmative.

He pointed to his own 40-year track record, noting that he switched out of hard assets in the late 1970s and into stocks and bonds after the election of Ronald Reagan in 1980.

He recommended staying long stocks until the fall of 1987, when he correctly moved his subscribers out of equities just before the market crashed.

He also recommended stocks for most of the long-running bull market of the 1990s and has been bullish since the Great Recession as well.

He noted that he made missteps along the way but further sought to undermine my position by noting that I recommend stocks myself – and with some success.

(The independent Hulbert Financial Digest rated my Oxford Communiqué among the top investment letters in the nation for 16 years until Mark Hulbert stopped publishing the letter at the end of 2016.)

When it came time to rebut Mark, I conceded a few points.

Unlike the permabears and other longtime doom-and-gloomers – you know who they are – he has been on the right side of the market for most of the last four decades.

It’s also true that I recommend individual stocks in my various newsletters and trading services. Doesn’t that mean I’m predicting the market?

No. It doesn’t.


When it comes to the subject of market timing, I call myself a militant agnostic. (I don’t know what the market will do next and neither do you.)

However, there are reasonable conclusions that an investor can make about the future without calling himself a prognosticator. (Or, ahem, a “guru.”)

The first is that all human beings have economic needs: food, clothing, shelter, healthcare, etc.

It’s not government that provides us with these essentials. It’s entrepreneurs and other business people who have found a way to offer the goods and services we want and need at a price greater than what it costs to provide them.

That’s capitalism, the private ownership of the means of production.

The stock market is the quintessence of capitalism. Most of us don’t have the time, the expertise or the money to start our own businesses. (And even if we do, it’s a well-known fact that most new businesses fail in the first few years.)

But through the stock market, we can own a fractional interest in virtually any of the world’s thriving public companies – and with very little money.

There is no greater way to create, grow and preserve a fortune than to own a business. Better still, own a whole portfolio of diverse businesses.

Acknowledging this requires no predictive power. It requires only that you understand economic history.

U.S. equities have returned an average of 10% …read more

Source:: Investment You

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East Africa Metals and Luck Winner fail to agree on Ethiopian projects financing

By analyst

By Valentina Ruiz Leotaud

Vancouver-based East Africa Metals (TSX-V:EAM) revealed that its previously announced Ethiopian Project Financing Memorandum of Understanding with Luck Winner Investment Limited failed to materialize.

In a press release, East Africa said that “despite the best efforts of both parties, negotiations failed to define a viable transaction that would be in the best interests of East Africa shareholders and Luck Winner.”

The firm, however, states that it has initiated discussions with a number of interested parties for the financing of its projects in Ethiopia and in particular the Terakimti Oxide Gold Project, an open-pit conventional mine located in the Tigray National Regional State and whose mineral resource has been estimated in 1,125,000 tonnes grading 3.2 grams gold and 24.0 grams silver per tonne containing 107,000 ounces of gold and 812,000 ounces of silver.

“The parties include companies and groups based in North America, Europe and China,” the media statement reads.

Despite the recent setback, last year, East Africa was able to secure $2 million in financing from Luck Sky Resources Investment, an affiliate of Luck Winner Investment, to continue exploration programs in the east African country.

The post East Africa Metals and Luck Winner fail to agree on Ethiopian projects financing appeared first on MINING.com.

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Source:: Infomine

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Avaaz launches campaign against Belo Sun’s massive Brazilian mine

By analyst

By Valentina Ruiz Leotaud

U.S.-based online activist network Avaaz launched a campaign to gather signatures to oppose the construction of the Volta Grande project, expected to become Brazil’s largest gold mine.

Canada’s Belo Sun Mining Company (TSX:BSX) is behind the project, which is located in the Amazonic state of Pará. Even though it has been denied a construction licence a couple of times, management has kept on working on improving its application and searching different legal avenues to meet the standards set by Brazil’s Indigenous Affairs Agency FUNAI.

According to Avaaz, the miner is close to getting the permit and, thus, the network is asking activists to ramp up protest actions. “Experts say the main investor, Agnico Eagle Mines, cares about its international reputation as a sustainability leader — and a million voices demanding they pull out of this project could be the game-changer to end this insane venture,” the campaign page reads.

Back in 2015, fellow Canadian miner Agnico Eagle invested about $11 million into Belo Sun Mining and became the owner 17.4% of Belo Sun shares on a non-diluted basis. More investments followed in 2016.

Volta Grande, however, has been receiving delays since 2013. The licence has been revoked because, according to different legal instances, the miner failed to assess the impact on local Indigenous communities. Belo Sun rejects such allegations. “According to current Brazilian regulations, only projects located less than 10 kilometres from indigenous lands require an Indigenous study. In accordance with best practices, Belo Sun completed Indigenous studies on the two closest indigenous lands, despite the 12 and 16 kilometres distance from the Volta Grande Project,” the latest corporate press release on the issue reads.

But Avaaz’s call to action says that the project would surround Indigenous sacred lands where one tribe could face extinction. In particular, opponents fear its vicinity to the controversial Belo Monte dam complex may lead to devastating and irreversible consequences for the quality of life and cultural heritage of nearby communities.

Volta Grande is an open-pit project near the Xingu River, a tributary of the Amazon. It is expected to produce an average of 205,000 ounces a year over its nearly 17-year life.

The post Avaaz launches campaign against Belo Sun’s massive Brazilian mine appeared first on MINING.com.

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Source:: Infomine

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This “Obscure News” Just Made Pipelines A Buy…

Zach Scheidt

By Zach Scheidt

This post This “Obscure News” Just Made Pipelines A Buy… appeared first on Daily Reckoning.

We’ve been dealing with a little bit of “drama” here at the Scheidt house lately.

My 5-year-old, Caleb, has started testing his limits by throwing the occasional temper tantrum. The other day I heard him yelling at his mom because he didn’t want to brush his teeth.

THAT was a big mistake.

After sitting down and explaining to Caleb that this was not acceptable behavior, Caleb then had to sit on the front step for 10 minutes while his big sisters rode bikes just outside the window. That definitely caught his attention.

There were a couple other minor instances last week. Each time, we talked about the situation and then there was a consequence. I’m happy to report that today, Caleb appears to have learned the lesson. He’s now talking respectfully to his mom and listening to instructions.

Ironically, at the same time that Caleb was pitching a fit last week, traders on Wall Street were also dramatically expressing their frustration.

It’s a situation that happens often. Traders react to a particular piece of news in an “overly dramatic” fashion. And ultimately, these traders are taught a lesson.

Best of all, investors like us who keep cool heads can be the ones who teach this lesson. And as a teacher, you can lock in a very lucrative income yield in the process.

Let’s take a look!

Shares of pipeline companies have traded lower recently because of an obscure piece of news.

The Federal Energy Regulatory Commission (FERC) — which sets the regulations for energy companies like oil and natural gas pipelines — changed one of its rules. According to the statement, pipeline companies will no longer be able to take advantage of a specific tax benefit.

To understand how this affects pipeline stocks, let’s take a quick look at how most of these companies are organized.

Most pipelines are set up as master limited partnerships, or MLPs.

To encourage investment in our nation’s energy infrastructure, the government has agreed not to charge MLPs with corporate income tax. In exchange for avoiding corporate taxes, these MLPs must pass the vast majority of their profits directly to investors. And these investors then pay personal taxes on the gains.

One part of this agreement previously allowed the MLP companies to recover what is known as an “income tax allowance.” In other words, there was an additional small tax advantage for these pipeline companies.

But now, that small “recovery of income tax allowance” is being taken away.

As a result, investors metaphorically put their hands on their hips, stomped their feet and sold their pipeline stocks. That’s why many of these stocks have given up a lot of ground.

As an income investor, my immediate question was whether things are really as bad as the market seems to think they are. And if not, where are the best opportunities for us to lock in high yields?

Shortly after the FERC statement was released, pipeline executives started hitting the airwaves with more detailed information about …read more

Source:: Daily Reckoning feed

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Randgold reports record year

By analyst

By Valentina Ruiz Leotaud

Randgold Resources’ Chief Financial Officer, Graham Shuttleworth, announced today that since the company declared its maiden dividend for the 2006 financial year, its dividends have increased by 1,900%.

“Randgold Resources had one of the best years in its history of achievement and delivery in 2017, posting another production record of an already high base and pruning the cost of production to its lowest level in six years,” Shuttleworth said in a press release.

According to the CFO, the sustained dividend growth validates the business model and reflects the profitability and financial strength of the company, which at year-end had net cash of more than $700 million and no debt. The company, he said, intends to maintain a net cash position of around $500 million to fund new growth opportunities, while any surplus capital will be returned to shareholders.

However, management says that Randgold’s hunt for what it calls “its next world-class gold deposit” will not impact the firm’s 10-year plan to remain profitable at a long-term gold price of $1,000 per ounce.

The Jersey-based miner, which operates the giant Kibali gold mine in the northeastern region of the Democratic Republic of Congo, also stated that it is committed to working towards positive partnerships. “The mutually beneficial relationships it has patiently forged with its host countries and communities are serving it well, and over the years the company has effectively dealt with the differences that inevitably arise in even the most well-intentioned partnerships,” chairman Christopher Coleman wrote in the brief. “Randgold is consequently confident that it is well-equipped to cope with the occasional turbulence in its operational climate,” he added.

Together with other big firms, Randgold submitted a proposal to address concerns related to the DRC’s recently modified mining code. Among other things, the new law raises royalties and taxes on operators.

The miners are proposing linking a sliding scale of royalty rates to the prices of the key commodities, which industry representatives believe would be a more effective mechanism than what they call “the windfall tax” introduced in the new code.

The post Randgold reports record year appeared first on MINING.com.

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Source:: Infomine

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Of all things molybdenum could crash cobalt, nickel price party

By analyst

By Frik Els

Cobalt’s rise to six-digit territory seems inexorable as the hype around electric vehicle demand for battery materials shows no signs of cooling.

Despite a pullback this week, at $95,000 a tonne cobalt is up another 24% in 2018 as it builds on a more than fourfold increase in value from record lows early 2016. Batteries – mainly for cellphones – constitute 55% of cobalt demand at present, but is set to rise substantially as the world’s automakers move away from internal combustion engines.

Nickel, together with manganese and cobalt the crucial elements in batteries favoured by most of the world’s automakers, has also been swept up by the positive sentiment trading at $13,315 a tonne on Friday, up a third over the last 12 months. The rise is despite the fact that only 5% of nickel production goes into batteries and less than 1% in EV power plants.

Worries about supply is not only reflected in prices for battery materials but also the furious pace of research into new technologies to reduce loadings or find substitutions for pricey raw materials

Worries about supply is not only reflected in prices for battery materials but also the furious pace of research into new technologies to reduce loadings or find substitutions for pricey raw materials.

At the beginning of this year US researchers touted a breakthrough for lithium ion battery technology which replaces cobalt with iron, currently trading at a tenth of the price.

Now lithium sulphur batteries are being hailed as the future of the industry.

Lithium sulphur batteries have been studied extensively and is considered to be the natural evolution of lithium ion batteries, but at the moment the technology falls far short when it comes to size and recharging limitations due to sulphur’s instability.

In a study first published in the journal Nature Nanotechnology, US researchers this week said they found a way around these shortcomings creating a lithium-sulphur battery that is cheaper, lighter, safer (won’t catch fire) and more efficient holding three to five times the charge of today’s lithium ion technology.

According to a report from Phys.org, a team led by Kyeongjae Cho, professor of materials science and engineering at the University of Texas, found that molybdenum, mainly used as an alloy in the steel industry, solves the problems associated with lithium sulphur batteries:

[Molybdenum] creates a material that adjusts the thickness of the coating when combined with two atoms of sulfur, a coating thinner than the silk of a spiderweb.

It improved stability and compensated for poor conductivity of sulfur, thus allowing for greater power density and making lithium-sulfur batteries more commercially viable.

Lithium sulphur batteries use a solid lithium metal anode and a carbon cathode, with no need for nickel or cobalt:

“This was what everyone was looking for, for a long time. That’s the breakthrough.

“We are taking this to the next step and will fully stabilize the material, and bring it to actual, practical commercial technology,” Cho said.

The post Of all things molybdenum could crash cobalt, nickel price party appeared first on <a class="colorbox" class="colorbox" rel="nofollow" …read more

Source:: Infomine

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Gold particles make the invisible visible

By analyst

By Valentina Ruiz Leotaud

To understand how enzymes work, scientists need to make molecules involved in enzymatic activities visible through techniques such as fluorescence microscopy.

However, many times molecules cannot be detected because they don’t emit light. Gold can be the solution to such problem.

A researcher with the Leiden Institute of Physics decided to tackle the issue by attaching single molecules to gold nanorods. The nanorods act as very small antennas by emitting light, enhancing the fluorescence of the attached molecule. This allowed Biswajit Pradhan to study single proteins and other complexes that are otherwise undetectable by fluorescence.

In detail, the scientist permanently attached a short single-stranded DNA to the tip of a gold nanorod. Then he allowed complementary DNA strands to diffuse around it. Each complementary strand contained a single molecule that he wanted to investigate. “Because of the weak binding of the short DNA strands, the binding time is short. Each complementary strand binds temporarily and is then replaced by a new complementary strand. This allowed us to study single molecules on the same nano-antenna,” Pradhan said in a media statement.

This technique -he added- can be applied to many research fields, such as improving solar-cell efficiency and phototherapy of cancer.

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Source:: Infomine

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Societal Commentary from Big Al and others. – Thu 29 Mar, 2018

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By Big Al

Sally Pipes CEO of the Pacific Research Institute discusses the American Medical System – A preview of the upcoming Weekend Radio Show

Just how uneconomic and unfair is Obamacare? Sally Pipes shares some interesting ideas with us.

Download audio file (Genesis-Segment-8-April-30-We-talk-with-Sally-Pipes-Ghief-Exeutive-of-the-Pacific-Research-Institute-about-American-healthcare-1.mp3)

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Source:: The Korelin Economics Report

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