O’Leary and Holmes Are both Right on Gold & Gold Stocks

 

Mr. Wonderful, Kevin O’Leary, and Frank Holmes recently took different side the gold(bullion) vs. gold stocks. Gold and gold stocks are two different asset classes and saying which one is better. One is a commodity (Gold) and the other is equity (Gold Stocks). It’s like comparing multiple championships winning athletes, Sydney Crosby (NHL), Lebron James (NBA), and Tom Brady (Football) and saying one of these players is the best athlete of all-time. Gold and gold stocks offer two different purposes for an investor’s portfolio.

WHY OWN GOLD BULLION?

You own gold in bullion form and keep it in storage as an insurance policy for your other financial assets. It acts as a counterbalance against other assets in your portfolio. Investors flock to gold as a “safe-haven” asset, just like cash because they aren’t willing to take on risk. Gold is like a cash position in your portfolio, you don’t get paid to own it. Think of Gold as another currency (cash position) that you have exposure too, and you can use it as a counterbalance against your riskier assets. If gold isn’t important, then why do Central Banks own it on their balance sheet? For investors, it’s a way of being your own Central Bank.

I have a 5% weighting in gold. The GLD and physical bullion. Which I store and pay for the storage. The value of the commodity is whatever it is every day. Kevin O’Leary (Kitco)

Kevin O’Leary isn’t the only one who has gold as a counterbalance in their portfolio. Here is what Ray Dalio of Bridgewater thinks about gold:

“We can also say that if… things go badly, it would seem that gold (more than other safe haven assets like the dollar, yen, and treasuries) would benefit, so if you don’t have 5% – 10% of your assets in gold as a hedge, we’d suggest that you relook at this.” – Ray Dalio

Egyptian billionaire Naguib Sawiris investing half his net worth in gold

“And people also tend to go to gold during crises and we are full of crises right now. Look at the Middle East and the rest of the world and Mr. Trump doesn’t help.” (Marketwatch)

JP Morgan

“Underweight equities, long duration, long gold, and long the yen as Fed policy slows the economy and real rates collapse.” JP Morgan via ZH

GOLD IS TRADING LIKE A COMMODITY

After the dollar-gold window was broken in the 1970’s gold trades more like a commodity because it isn’t pegged to the US dollar. That is why gold, has better matched the cycle of the commodity booms since that time. Will it be treated again like before? We think that “Yes, gold will more than likely be pegged in some form to a currency at some point in the future”. Will it be more like past gold standards? Maybe, history repeats, just not exactly the same as before. It could be in a digital format because that is the way the world is going. We aren’t sure. But we follow the worldview that there are cycles and history repeats. We think that the mantra, “This could never happen” means it can happen again and probably will happen, just in a different twist. Everything has a time when it gets center stage. Gold standards will come, and then they will go. For now gold trades more like a commodity.

GOLD STOCKS AND CYCLE

When O’Leary says gold miners are horrible investments is a bit of hype and bluster.

O’Leary: “The history of mining has been abysmal… I don’t need to have a manager in the middle screwing up his capital cost allowance, not controlling his costs. (Kitco)

This is like saying all technology stocks are profitable like Apple.  

The gold sector has one major commonality with every other sector. They are all cyclical! The question is, what cycle do they follow? Gold mining stocks and gold are part of the larger commodity cycle. If you understand the cycle, you understand that there is a time to buy and a time to sell. Gold miners generate an incredible amount of free cash flow once the sector has bottomed. Why? Management teams are forced to really look at their costs and focus on generating profits because investors demand it. Just like after the Dotcom bust, investors started to demand revenue, not just user growth. Let me say that again…Revenue! Profits were demanded as well.

Kevin O’Leary is right when he says “More and more investors are thinking the way I do. They are thinking about return of capital.”

But you are seeing it some darling tech stocks right now, particularly in the private tech side focusing aggressively on growth. Look at Wayfair, an e-commerce company sells home goods online. Revenues have increased by more than 4X, yet $0 in profits over the past three years. 

During the last gold peak, investors demanded growth in terms of ounces at all cost from management, and in the bottom, investors reversed course and realized profits are essential for survival. You know its approaching a top when its ounces at all costs. The technology sector has recently been like this, companies like Tesla(TSLA), Wayfair (W), where it has been growth at all costs. As the tech cycle turns, investors will demand profits from these companies, not just customer growth on Wayfair and auto deliveries from Tesla. This is a 100% guarantee because investors will get spooked when the cycle turns and expect profits. Right now, investors have been rewarding gold miners for delivering on production and showing profitability. In 2017, gold miners delivered record dividends. Gold miners are set to show strong revenues in 2018 because of the continued elevated gold price above $1,300.

“Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money,” tweeted Musk

OTHER WAYS TO INVEST THAN ROYALTY STOCKS & GOLD MINERS?

But there is more than one way to play the gold sector. I am always amazed, when I speak with portfolio managers and receive emails, they always bring up explorers, producers, and royalty stocks to invest in stocks. Seek where the profits are, and you will find the gold. Look at Apple, it generates the most profits in the cell-phone industry over the past 8 years, its revenue grew incredibly over that same time-period. So why not repeat the same process in the gold sector?

We think there is a better way to think about investing in gold & silver stocks, and commodity stocks in general. Does the company generate a percentage of their sales related to gold and silver? It opens you up to many different companies with exposure to other commodities or other industries. Seek companies that are growing revenue, but still, give you exposure to gold and silver.

We can see the day when companies that derive a percentage of their revenue from precious metals will be added to ETFs.

  • Mining Services
    • Major Drilling
    • KGHM
    • Swick Services
  • Financial Services
    • Sprott
    • GoldMoney
    • Canaccord Genuity
    • CME Group
  • Commodities Trading
    • Glencore
  • Refining & Distribution
    • Johnson Matthey
    • Umicore SA

Some of these companies are directly involved in operating mines, by providing useful services to the mining industry. While still being able to get exposure to the gold and silver. The additional value is you may be getting exposure to multiple commodities and in some case entirely different industries outside of mining that are growing.

YOU NEED REVENUE GROWTH

Frank Holmes taking a more factor-based approach, with one-factor, focused on revenue growth. This factor is important because revenue growth attracts investor money.

.  “The royalty companies have done well and those stocks that basically show better revenue per share, reserves per share, production per share, they far outperform.” Holmes.

And if the company can grow revenue per share and/or cash flow per share this help share prices higher. Would you invest in a company that isn’t growing its revenue? This is why royalty stocks attract investors because they are able to grow revenue consistently over longer periods than the miners. The ability to add cash flowing royalties every year is like adding a new mine but a lot faster than a miner can.

Gold miners’ revenues are tied primarily to two items: 1. Production and 2. Gold Price. Investors are willing to pay up for anticipated growth in productionbecause a new mine is starting up or an existing mine is ramping up for further production. Investors are not willing to pay up for growth, they will sell. The higher the expected growth potential, the higher the anticipated returns. But, watch out if the company slips up. Investors will punish the share price like we recently saw with Pretium Resources and New Gold. When the commodity price is falling faster than the production growth, this will take down all stocks in the sectors. This is why it’s important to focus on higher quality companies, with low AISC or have high operating margins. It minimizes your risks on the downside because they can maintain dividends, and their revenue is less impacted.

You can see why royalty and streaming companies like Franco-Nevada and Royal Gold are so popular because they offer fairly consistent revenue per share and cash flow per share growth relative to gold miners.

PROTECTION & GROWTH

Gold and gold stocks provide investors with two very different sets of risks and opportunities to protect and grow their wealth. You own gold primarily as an insurance policy against your portfolio and the financial system. You own gold stocks as a way to potentially increase your wealth by focusing on growth, management ownership and catalysts. Two different asset classes that are part of the overall portfolio. By understanding the cycle that they both follow, you can enjoy the ups and take money off the table when the crowd is all in.

Written by Paul Farrugia, BCom. Paul is the President & CEO of First Macro Capital. He helps his readers identify mining stocks to hold for the long-term. He provides a checklist to find winning gold and silver miner stocks and any commodity producer.

Get the exact checklist that Professionals use to find winning Gold mining producer stocks.
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Great Panther Silver Reports First Quarter 2018 Financial Results

GREAT PANTHER SILVER LIMITED (TSX:GPR) (NYSE American:GPL) (“Great Panther”; or the “Company”) today reported financial results for the Company’s three months ended March 31, 2018. The full version of the Company’s unaudited condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) can be viewed on the Company’s website at www.greatpanther.com or on SEDAR at www.sedar.com. All financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”), except as noted in the Non-GAAP Measures section of the MD&A. All dollar amounts are expressed in US dollars (“USD”), unless otherwise noted.

“Great Panther’s revenues were up 38% reflecting the normal operation of the Topia processing plant compared to the first quarter of last year when it was suspended for planned upgrades”, stated Jim Bannantine, President and CEO. “We continue to focus our efforts on advancing the Coricancha project, and we expect to release an economic study before the end of this quarter. Our balance sheet remains strong and our cash position increased to just over $60 million as we continue to fund Coricancha from the cash flows from our operations in Mexico.”

OPERATIONAL AND FINANCIAL HIGHLIGHTS

Q1 2018 Q1 2017 Change Q4 2017 Change
OPERATING RESULTS
Tonnes milled 96,869 82,656 17% 98,396 -2%
Ag eq oz produced1 1,031,937 730,186 41% 1,065,773 -3%
Silver production – ounces 491,063 366,435 34% 514,218 -5%
Gold production – ounces 5,831 5,178 13% 5,931 -2%
Payable silver ounces 476,325 344,995 38% 516,078 -8%
Ag eq oz sold 971,189 680,984 43% 1,038,023 -6%
Cost per tonne milled2 $ 121 $ 88 38% $ 116 4%
Cash cost2 $ 5.39 $ 3.54 52% $ 7.25 -26%
Cash cost per Ag eq oz2 $ 12.76 $ 10.99 16% $ 13.18 -3%
All in Sustaining Cost (AISC)2 $ 12.33 $ 19.55 -37% $ 14.72 -16%
AISC per Ag eq oz2 $ 16.16 $ 19.10 -15% $ 16.89 -4%
(in 000’s, unless otherwise noted) Q1 2018 Q1 2017 Change Q4 2017 Change
FINANCIAL RESULTS
Revenue $ 17,019 $ 12,371 38% $ 17,384 -2%
Mine operating earnings before non-cash items2 $ 5,225 $ 5,445 -4% $ 4,962 5%
Mine operating earnings $ 4,019 $ 4,662 -14% $ 3,755 7%
Net income (loss) $ (97) $ 3,040 -103% $ (1,918) 95%
Adjusted EBITDA2 $ 415 $ 2,134 -81% $ 904 -54%
Operating cash flows before changes in
non-cash net working capital $ 118 $ 894 -87% $ 618 -81%
Cash and short-term deposits at end of period $ 60,884 $ 53,158 15% $ 56,888 7%
Net working capital at end of period $ 67,076 $ 69,281 -3% $ 65,965 2%
Average realized silver price per oz3 $ 16.36 $ 19.33 -15% $ 16.86 -3%
Average realized gold price per oz3 $ 1,363 $ 1,297 5% $ 1,292 5%
Earnings (loss) per share – basic and diluted $ (0.00) $ 0.02 -100% $ (0.01) 100%
___________________________
1 Silver equivalent ounces are referred to throughout this document. Ag eq oz are calculated using a 70:1 Ag:Au ratio and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to lead and zinc price/pound, respectively, and applied to the relevant metal content of the concentrates produced, expected to be produced, or sold from operations.
2 The Company has included the non-GAAP performance measures cost per tonne milled, cash cost, cash cost per Ag eq oz, AISC, AISC per Ag eq oz, mine operating earnings before non-cash items, cost of sales before non-cash items and adjusted EBITDA throughout this document. Refer to the Non-GAAP Measures section of the MD&A for an explanation of these measures and reconciliation to the Company’s financial results reported in accordance with IFRS. As these are not standardized measures, they may not be directly comparable to similarly titled measures used by others.
3 Average realized silver price is prior to smelting and refining charges.

REVIEW OF FINANCIAL RESULTS

Revenue increased by $4.6 million or 38% compared to the first quarter of 2017. This was primarily attributable to an increase in metal sales volumes ($5.6 million effect) as there were negligible metal sales for Topia during the first quarter of 2017 due to the suspension of milling operations for plant upgrades, and an increase in gold prices ($0.4 millioneffect). This was partly offset by a decrease in silver prices ($1.4 million effect). The Company’s average realized silver price for the first quarter of 2018 was $16.36 per oz compared to $19.33 per oz during the first quarter of 2017.

The increase in metal sales volume resulted in a corresponding increase in production costs for the first quarter of 2018, compared to the first quarter of 2017 (approximate $3.2 million increase). Production costs also increased in MXN terms as a result of mining narrower veins at the GMC (which causes more waste material to be mined), along with rate increases for mining contractors ($0.4 million effect). Another factor in the increase of production costs was the strengthening of the MXN against the USD which had the impact of increasing costs in USD terms by $0.8 million.

Mine operating earnings before non-cash items decreased by $0.2 million relative to the first quarter of 2017 as the $4.9 million increase in production costs exceeded the $4.6 million increase in revenue.

Amortization and depletion increased compared to the first quarter of 2017 due to depreciation of the new tailings filtration and handling facilities at Topia that were commissioned in the second quarter of 2017.

G&A expenses for the first quarter of 2018 increased 3% compared to the same period in 2017, primarily due to higher share-based compensation.

Exploration, evaluation and development (“EE&D”) expenses for the first quarter of 2018 increased $1.4 million or 70% compared to the same period in 2017, mainly due to $1.5 million of care and maintenance and project expenditures related to Coricancha, which was acquired on June 30, 2017. The first quarter of 2017 included $0.3 million of Coricancha pre-acquisition EE&D costs related to technical evaluation, integration planning and pre-closing legal and professional fees. The Company will continue to expense costs associated with the ongoing care and maintenance of Coricancha and any project costs associated with evaluating the return of Coricancha to production until such time as a positive decision is made to restart the mine. EE&D expenditures for the first quarter of 2018 also included $0.6 millionof additional corporate development costs, due to a higher level of activity associated with the evaluation of potential acquisitions.

Finance and other income (expense) primarily reflects interest income or expense and foreign exchange gains and losses. During the quarter ended March 31, 2018, the Company had foreign exchange gains of $0.7 million compared to $1.8 million in the first quarter of 2017. …read more

Societal Commentary – Wed 2 May, 2018

Total national costs of undocumented immigrants

Illegal Immigration hurts our country. Thanks GH

You want Big Al’s opinion? “It is illegal and that is pretty simple. Big Al does not support illegal activity.”
The Fiscal Burden of Illegal Immigration on United States Taxpayers

Report by Matt O’Brien and Spencer Raley | September 27, 2017 | View the Full Report (PDF)

Introduction

A continually growing population of illegal aliens, along with the federal government’s ineffective efforts to secure our borders, present significant national security and public safety threats to the United States. They also have a severely negative impact on the nation’s taxpayers at the local, state, and national levels. Illegal immigration costs Americans billions of dollars each year. Illegal aliens are net consumers of taxpayer-funded services and the limited taxes paid by some segments of the illegal alien population are, in no way, significant enough to offset the growing financial burdens imposed on U.S. taxpayers by massive numbers of uninvited guests. This study examines the fiscal impact of illegal aliens as reflected in both federal and state budgets.

The Number of Illegal Immigrants in the US

Estimating the fiscal burden of illegal immigration on the U.S. taxpayer depends on the size and characteristics of the illegal alien population. FAIR defines “illegal alien” as anyone who entered the United States without authorization and anyone who unlawfully remains once his/her authorization has expired. Unfortunately, the U.S. government has no central database containing information on the citizenship status of everyone lawfully present in the United States. The overall problem of estimating the illegal alien population is further complicated by the fact that the majority of available sources on immigration status rely on self-reported data. Given that illegal aliens have a motive to lie about their immigration status, in order to avoid discovery, the accuracy of these statistics is dubious, at best. All of the foregoing issues make it very difficult to assess the current illegal alien population of the United States.

However, FAIR now estimates that there are approximately 12.5 million illegal alien residents. This number uses FAIR’s previous estimates but adjusts for suspected changes in levels of unlawful migration, based on information available from the Department of Homeland Security, data available from other federal and state government agencies, and other research studies completed by reliable think tanks, universities, and other research organizations.

The Cost of Illegal Immigration to the United States

At the federal, state, and local levels, taxpayers shell out approximately $134.9 billion to cover the costs incurred by the presence of more than 12.5 million illegal aliens, and about 4.2 million citizen children of illegal aliens. That amounts to a tax burden of approximately $8,075 per illegal alien family member and a total of $115,894,597,664. The total cost of illegal immigration to U.S. taxpayers is both staggering and crippling. In 2013, FAIR estimated the total cost to be approximately $113 billion. So, in under four years, the cost has risen nearly $3 billion. This is a disturbing and unsustainable trend. The sections below will break down and further explain these numbers at the federal, state, …read more

Source:: The Korelin Economics Report

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Cache Exploration Finalizes Its 100% Acquisition of Deep Lake Cobalt Property, NB

Cache Exploration (TSXV:CAY) is pleased to report that the TSX Venture Exchange has approved the Company’s purchase of a 100%-interest in the Deep Lake Project located near Saint John, New Brunswick in consideration of the issuance of 800,000 common shares of Cache to Horizon Cobalt Corporation.

Deep Lake Cobalt Property Highlights (Data derived from previous exploration)

Geological Description

-The property hosts a cobalt bearing sulphide vein showing sampled by Shell Canada in 1981 (assessment report #472786)

-Mineralization was observed on the banks of a small creek that drains into Deep Lake. The showing was hand trenched and exposed for 3 to 4 meters, along an east-southeast strike. The cobalt showing is hosted in Silurian metasediment units, close to intrusive Devonian granites

Sampled Values

-0.60% Co (cobalt) over widths of 0.25 to 0.51 meters

-Grab samples of 0.95 % Co and 1.18% Co

Property Description

-Five (5) licenses over ~10 square kilometers

-Located 25 kilometers west of Saint John, New Brunswick

Excellent Property Access

-Eastern portion of property cut by highway #7

-Central and western portions of the property are accessible by well-maintained logging roads

Soil Geochemistry

-Due to limited outcrop exposure, Shell (1981) completed a soil geochemical survey over the area west of Deep Lake. Scattered cobalt soil anomalies were noted and the peak values were 22 and 27 parts per million (ppm) Co. (Total samples were 365)

-A 1989 exploration program completed by Lombard Cons. Res. Ltd. with a focus on gold mineralization, returned multiple cobalt soil anomalies east of Deep Lake, with elevated values in soil of 34, 38 and 63 ppm Co. (Total samples were 1,835)

-A discrete, strongly anomalous, linear cobalt soil anomaly extends for over 1,500 meters east of Deep Lake.

-Gold in soils geochemistry – Lombard Cons. Res. 1989 soil survey also returned numerous gold in soil anomalies, with values up to 1.21 ppm (g/t Au). Gold targets will be a secondary focus on the Deep Lake property.

Deep Lake Cobalt Property Exploration Plans

The Company is planning an aggressive exploration program to investigate cobalt and gold targets as soon as weather permits. The area with the historic cobalt showing reported by Shell in 1981 was visited in 2017 and is overgrown and collapsed with overburden. Hand trenching and pitting is planned to expose the showing. The high sulphide mineralization should respond favorably to EM (Electro-magnetic) geophysics, and the Company is investigating airborne surveys that could be completed during the 1st quarter.

Mr. Garry Clark P.Geo, a Qualified Person (“QP”) as defined by National Instrument 43-101, has reviewed the technical content of this release, related to the Deep Lake property. The content of the geological data presented re the Deep Lake Cobalt Property has been derived from the New Brunswick Department of Energy and Resource Development Mineral Deposit Database and exploration assessment files and are believed to be accurate and correct.

About Cache Exploration’s Kiyuk Lake Gold Property

The Kiyuk Lake Property covers 590 square kilometers in Southwest Nunavut. The 2017 drill program confirmed and extended a known target and discovered significant gold mineralization at a new target (see Company Press Release, October 26, 2017).

At Rusty Zone the Company not only confirmed that mineralization extends to 200m below surface but also intersected a previously unknown high-grade phase of 8m of 26.4 g/t gold. At the same time, the Company discovered extensive mineralization at East Gold Point with 64 m at 1.46 g/t gold.

Prospecting returned two +5 g/t gold samples and the till campaign isolated two new anomalous areas that offer compelling evidence for further possible discovery.

Kiyuk Lake 2017 Drilling Highlights

-KI17-004 at Rusty Zone returned 122m at 1.8 g/t gold from 188m down-hole in the Rusty Zone

-KI17-005 at newly discovered East Gold Point Zone intersected:

-64m at 1.5 g/t gold from 35m and

-10m of 6.5 g/t gold from 248m

-Prospecting samples returned:

-5.57 g/t gold from west of the Rusty Zone

-5.60 g/t gold grab sample from north of Kiyuk Lake and 1.1km from the newly identified Nansen target area

Please click http://cacheexploration.com/CAY-NR-10-26-17 to view:

-Plan map of the Rusty Zone and East Gold Point

-Detailed section showing the recent KI17-004 drill results

-Plan map of the East Gold Point Zone

-Detailed section showing the recent KI17-005 drill results

-Maps of rock and till sampling results

For more information about Cache Exploration, please visit: http://www.cacheexploration.com/

On behalf of the Board of Directors

Cache Exploration Inc.

“Jack Bal”

Jack Bal

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

Jack Bal

604-306-5285

jackbal@cacheexploration.com

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Kiyuk Lake Property and the Deep Lake Property: statements pertaining to the ability of Cache Exploration Inc. (“CAY”); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for CAY to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by CAY in light of its experience and perception of current and expected future developments, as well as other factors that CAY believes are appropriate in the circumstances. Many factors could cause CAY’s results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release

Click here to connect with Cache Exploration (TSXV:CAY) for an Investor Presentation.

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KER Politics – Wed 2 May, 2018

Best selling author, Paul Kengor, tells Big Al how the Progressives could affect our economy.

Big Al spoke with best selling author and Professor Paul Kengor about his feelings regarding Progressives and how the Movement could affect the U.S. Economy.

Download audio file (Genesis-Segment-5-May-5-Paul-Kengor-discusses-his-updated-book-Dupes-How-America-Adversaries-have-Manipulated-Progressives-for-a-Century-and-how-this-can-affect-our-economy.mp3)

…read more

Source:: The Korelin Economics Report

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Egyptian Billionaire Puts Half His Net Worth Into Gold

gold outlook free report

Egyptian billionaire Naguib Sawiris’ belief in gold led him to invest half of his US$5.7 billion net worth into the precious metal.

Sawiris predicts that the price of gold will break free from its current slump to reach US$1,800 per ounce as “overvalued” stock markets crash.

“In the end you have China and they will not stop consuming. And people also tend to go to gold during crises and we are full of crises right now,” Sawiris said.

“Look at the Middle East and the rest of the world and Mr. Trump doesn’t help,” he added.


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Sawiris, who founded North Korea’s first telecom operator, Koryolink, has been waiting 10 years to repatriate all his profits easily and control his mobile-phone company. In order for this to happen and have his investments finally pay off, a North Korean peace deal needs to be reached.

“I am taking all the hits, I am being paid in a currency that doesn’t get exchanged very easily, I have put a lot of money and built a hotel and did a lot of good stuff there,” he noted.

Following a successful meeting between North Korean President Kim Jong Un and South Korean President Moon Jae-In last week, US President Donald Trump now has plans to meet North Korean leader to discuss his nuclear-weapons and missile programs.

For Sawiris, an agreement would allow for him to restore his investments there and possibly make new ones.

Beyond his telecom business, Sawiris bought out Egyptian investment bank Beltone Financial Holding and expanded his portfolio by entering into the mining sphere. He, with his family, became the largest investor in the sector through shareholdings in Evolution Mining (ASX:EVN), Endeavour Mining (TSX:EDV) and La Mancha Resources.

Addressing his investments, Sawiris stated, “I recently sold a portion of my Evolution shares because I want to invest now in Latin America and Eastern Europe.”

Looking forward, the man whose largest share of investments includes most of his gold stakes, is planning to invest in Egypt’s “booming” real estate market this year, shrugging off concerns of a bubble in the market.

“In my family we are investing a lot right now because we see the opportunities,” he said. “It isn’t patriotism or advertising or anything like that,” he said.

As of 1:58 p.m. EST on Wednesday (May 2), the price of gold was trading at US$1305.70.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.


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Jordan Roy-Byrne – Techncial Commentary – Wed 2 May, 2018

Some Negative Factors To Consider For Gold

Jordan Roy-Byrne, Founder of The Daily Gold does a great job of considering both the positive and negative factors in the metals market. In this segment we address the negative side of the things that have him a little concerned moving forward.

Download audio file (2018_05_02-Jordan-Roy-Byrne.mp3)

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

…read more

Source:: The Korelin Economics Report

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Company Updates From Management – Wed 2 May, 2018

Maple Gold Mines Halted – Here’s More Information On The Drill Results

Just over an hour ago Maple Gold Mines (TSX.V:MGM & OTCQB:MGMLF) was halted due to some very nice assay results that were just released. Headline numbers include 158.2m @ 1.25 g/t, including 52 meters @ 3.53 g/t. Most importantly this drill hole was outside of the current known resource area. Matthew Horner, President and CEO joins me today to share the significance of the news today.

Download audio file (2018_05_02-Matthew-Hornor-Maple-Gold.mp3)

Click here to read over the full news release on the drill results.

…read more

Source:: The Korelin Economics Report

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San Marco Awarded Suanse Property in Copper-Mining Region

zinc stock market report

San Marco Resources (TSXV:SMN) has announced that it has been awarded the Suanse property in Sonora in the Mexican government’s recent mineral concession lottery.

San Marco describes the property as covering 1,115 hectares, located near two large copper mines operated by Southern Copper, and surrounded by other copper-producing concessions in the Cananea-La Caridad copper belt of Northern Sonora State.

San Marco geological staff is preparing to do a first-pass ground validation and prospecting work at Suanse.

As quoted in the press release:

According to Mexican governmental geological data, the Suanse property overlies a section of a large oxidation and argillization cell, which has an elongated shape trending northeast-southwest and measuring over 8 km along its axis. Associated to this alteration cell are many polymetallic and precious metals prospects hosted by upper cretaceous dacitic to andesitic rocks, which in turn are being affected by porphyritic intrusive bodies. Relevant mineral “showings” located within the large alteration cell are Suanse Norte and Suanse Sur prospects which the Mexican geological survey describes as being part of a group of high angle epithermal to shallow mesothermal (gold, silver, lead, zinc and copper) vein systems.

Click here to view the full San Marco Resources (TSXV:SMN) press release.



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Pacton Gold Announces Increase in Private Placement to $5,550,500

Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton”) is pleased to announce that it has entered into an amended agreement with Sprott Capital Partners to act as lead agent (the “Lead Agent”), on its own behalf and on behalf of a syndicate of agents including Red Cloud Klondike Strike Inc. (collectively with the Lead Agent, the “Agents”), and has agreed to increase the offering size of the purchased securities from $4,002,000 to $5,550,500 in gross proceeds (the “Offering”).

The Offering will consist of 24,132,610 units, each unit consisting of one common share of the Company (a “Common Share”) and one transferable common share purchase warrant (a “Warrant”) (collectively, a “Unit”). Each Warrant will entitle the holder to acquire one Common Share for a period of three years from the date of issue at a price of $0.35.

In connection with the Offering, the Agents will be entitled to a cash fee in an amount equal to 6.0% of the gross proceeds of the Offering. As additional consideration, the Company will grant to the Agents common share purchase warrants (the “Broker Warrants”) entitling the Agents to subscribe for that number of common shares equal to 6.0% of the aggregate number of Units placed in the Offering. Subject to regulatory approval, each Broker Warrant will be exercisable to acquire one common share at a price equal to $0.35 for a period of three years after the closing date.

The net proceeds from the Offering will be used for exploration work to be conducted on the Company’s properties in Canada and Australia and for general working capital. All of the securities sold pursuant to the Offering will be subject to a four month hold period which will expire four months and one day from the date of issue in accordance with applicable securities laws. The Offering is subject to acceptance of the TSX Venture Exchange.

The Offering may close in one or more tranches, with a final closing no later than May 22, 2018 or such other date or dates as the Company and the Lead Agent may agree.

ON BEHALF OF THE BOARD OF DIRECTORS,
Alec Pismiris
Interim President & CEO

Neither the 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 does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

This news release includes certain forward-looking statements concerning the use of proceeds of the Offering, the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the future tax treatment of the Flow-Through Shares, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

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