Craig Hemke from TF Metals Report – Thu 11 Oct, 2018

By Cory댊 The Factors That Are Driving The Metals Higher – It’s Not Just the US Markets

Craig Hemke, Founder of TFMetalsReport.com joins me to outline some of the factors that are moving precious metals higher over the past couple days. While the falling US markets are one factor there are some other noteworthy reasons investors are touting for this pop.

Download audio file (2018-10-11-Craig-Hemke.mp3)

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

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From:: The Korelin Economic Report

Company News – Thu 11 Oct, 2018

By Cory댊 Anaconda Mining Just Reported Record Quarterly Gold Production

Anaconda Mining just reported some more strong quarterly gold production numbers. In Q3 the Company produced 5,099 ounces of gold and recorded $6.9million in revenue. The production numbers continue to be strong for Anaconda which helps to fund the ongoing exploration at the Point Rousse Project as well as Goldboro.

I will be chatting with Dustin Angelo, Anaconda President and CEO regarding this news so if you have any further questions please email me at Fleck@kereport.com.

Click here to listen to the most recent interview between Dustin and I.

…Here’s the news…

TORONTO, Oct. 11, 2018 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) (TSX: ANX) (OTCQX: ANXGF) is pleased to announce production results and certain financial information from the three and nine months ended September 30, 2018 (“Q3 2018”). All dollar amounts are in Canadian Dollars. The Company expects to file its third quarter financial statements and management discussion and analysis by November 8, 2018.

In 2017, the Company changed its fiscal year-end to December 31, from its previous fiscal year end of May 31. For comparative purposes, the results for the three and nine months ended September 30, 2018, have been compared to the three and nine months ended August 31, 2017.

Q3 2018 Highlights

  • Anaconda produced a quarterly record of 5,099 ounces of gold during Q3 2018, an 11% increase over the three months ended August 31, 2017, and has produced 14,024 ounces year-to-date in 2018.
  • Anaconda sold 4,314 ounces of gold in Q3 2018, generating metal revenue of $6.9 million at an average realized gold price1 of $1,603 per ounce. As at September 30, 2018, the Company also had over 945 ounces in gold doré and bullion inventory, which was subsequently sold in early October.
  • The Pine Cove Mill processed 120,374 tonnes during Q3 2018, just below the quarterly record of 121,299 tonnes achieved in the previous quarter of 2018. Throughput rates continue to be strong, achieving 1,332 tonnes per day (“tpd”) during the three months ended September 30, 2018.
  • Mill feed during the quarter was comprised of 66,655 tonnes of ore mined from Stog’er Tight, supplemented by 53,719 tonnes of ore stockpiled from the Pine Cove Pit.
  • Mining activity was focused at the Stog’er Tight West Pit in Q3 2018; ore produced from Stog’er Tight during the third quarter was 51,620 tonnes.
  • The Company commenced the 10,000-tonne, underground bulk sample at its 100%-owned Goldboro Gold Project (“Goldboro”) in Nova Scotia in August, with mining activity expected to begin in late October following the completion of decline dewatering and rehabilitation.
  • As at September 30, 2018, the Company had a cash balance of $7.6 million, preliminary working capital1 of $7.2 million, and additional available liquidity of $1,000,000 from an undrawn revolving line of credit facility.

1 Refer to Non-IFRS Measures Section below.

Anaconda is also pleased to welcome to its senior management team Rahim Kassim-Lakha in the role of Vice President, Corporate Development, where he will help drive the Company’s capital markets strategy. Mr. Lakha brings a wealth of knowledge from over 25 years of capital markets experience, having held senior-level positions at bank and non-bank brokerage firms.

“Anaconda continues to demonstrate operational excellence at its Point Rousse Project, achieving record quarterly gold production of 5,099 ounces during the third quarter of 2018. The team is maximizing ore throughput and achieving strong recovery rates. We’ve also transitioned smoothly from the Pine Cove Pit to Stog’er Tight where we are seeing better grade. Having already produced 14,024 ounces through the first nine months of the year, we remain firmly on track to meet our annual guidance of 18,000 ounces of gold production at operating cash costs1 of under C$1,000 per ounce. With the operational foundation at the Point Rousse Project, a high-grade gold development project in Goldboro, a strong balance sheet and an experienced management team, Anaconda is well-positioned in a challenging gold market to continue to execute its business plan to become a high-growth gold producer in Atlantic Canada.”

~Dustin Angelo, President and CEO, Anaconda Mining Inc.

Third Quarter Operating Statistics

Three months
ended

Sept 30, 2018

Three months
ended

Aug 31, 2017

Nine months
ended

Sept 30, 2018

Nine months
ended

Aug 31, 2017

Mine Statistics

Ore production (tonnes)

51,620

158,857

228,293

353,556

Waste production (tonnes)

380,580

364,380

987,354

1,075,843

Total material moved (tonnes)

432,200

523,237

1,215,647

1,429,399

Waste: Ore ratio

7.4

2.3

4.3

3.0

Mill Statistics

Availability (%)

98.2

97.0

96.8

96.4

Dry tonnes processed

120,374

119,401

350,892

335,119

Tonnes per day (“tpd”)

1,332

1,338

1,328

1,269

Grade (grams per tonne)

1.52

1.35

1.45

1.37

Recovery (%)

86.6

86.8

85.9

86.0

Gold Ounces Produced

5,099

4,581

14,024

12,729

Gold Ounces Sold

4,314

4,723

13,170

12,977

Operations Overview for the Three Months Ended September 30, 2018

Anaconda sold 4,314 ounces of gold during the third quarter of 2018, generating gold and silver revenue of $6.9 million, and year-to-date has sold 13,170 ounces to generate revenue of $21.9 million at an average realized gold price1 of C$1,659 per ounce. As at September 30, 2018, the Company also had over 945 ounces of gold doré and bullion inventory, which were sold in early October. The Company continues to be on track to meet its 2018 production guidance of 18,000 ounces at operating cash costs1 of under $1,000per ounce and has now transitioned to processing ore produced at the Stog’er Tight Mine.

Point Rousse Mill Operations – The Pine Cove Mill processing facility remains a cornerstone asset of the Company, achieving quarterly throughput of 120,374 tonnes in Q3 2018, just 1% lower than the quarterly throughput achieved in the second quarter of 2018. Mill throughput was 1,332 tpd in Q3 2018, down slightly from the comparative three months ended August 31, 2017. Availability continues to be strong at 98.2%, and the Company continues to invest in the Pine Cove Mill, making upgrades to the regrind motor and jaw and cone crushers, while continuing to maintain consistent throughput from its crushed ore stockpiles.

Average grade during the third quarter of 2018 was 1.52 g/t, an increase of 10% over the second quarter of 2018 due to a greater proportion of mill feed from Stog’er Tight relative to ore stockpiled from the Pine Cove Pit. Grade performance also reflected a 13% improvement from the comparative three months ended August 31, 2017, reflecting the higher grade ore being mined from …read more

From:: The Korelin Economic Report

Chris Temple from The National Investor – Thu 11 Oct, 2018

By Cory댊 Precious Metals and PM Stocks Continuing To Rise On Market Worries

Chris Temple and I spend some time today discussing the move high in gold and the gold stock ETFs. These moves are coming on the back of the weakness in markets around the world and the assumption that the Fed is all of a sudden going to switch course. While the fears about markets outside of the US are warranted we do not see the Fed turning more dovish anytime soon.

Download audio file (2018-10-11-Chris-Temple.mp3)

Click here to visit Chris’s site The National Investor.

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From:: The Korelin Economic Report

Ryan Wilday – Cryptrocurrency Technician – Thu 11 Oct, 2018

By Cory댊 Bitcoin Has Been Historically Boring

Ryan Wilday, Cryptocurrency Trader at Elliot Wave Trader.net shares some insights on the lack of volatility in the Bitcoin and cryptocurrency space. We also look at some smaller coins that are outperforming the overall sector.

Download audio file (2018-10-11-Ryan-Wilday.mp3)

Click here to visit the Elliot Wave Trader website.

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From:: The Korelin Economic Report

Mike Larson – Safe Money Report – Thu 11 Oct, 2018

By Cory댊 The Market Conditions Have Changed

Mike Larson, Editor of The Safe money Report follows up on what we have been talking about over the past couple months. That is a shift to a more defensive investing strategy. With markets getting hit the areas of consumer staples and utilities are holding up well.

Download audio file (2018-10-11-Mike-Larson.mp3)

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From:: The Korelin Economic Report

Do you want our country to stay in the gutter politically or are you willing to make sure that does not happen? Big Al tells you what he thinks.

By Big Al

Download audio file (Make-our-Country-a-Better-Place.mp3)

The Kavanaugh fight shows we have not yet plumbed depths of Democratic ruthlessness

BY MARC A. THIESSEN Washington Post

WASHINGTON

President Trump apologized to Justice Brett Kavanaugh and his family for the “terrible pain and suffering” they endured during his confirmation process, declaring that “what happened to the Kavanaugh family violates every notion of fairness, decency and due process.” Democrats seem to be taking the opposite lesson from the Kavanaugh fight. As Politico recently tweeted, “After failing to stop Kavanaugh’s confirmation, Democrats wonder if it’s time to be more ruthless.”

More ruthless? There are a lot of reasons the effort to stop Kavanaugh failed, but a lack of ruthlessness is not one of them. Kavanaugh’s opponents just tried to destroy a man without a shred of corroborating evidence. No tactic, no unfounded accusation, was too extreme. Democrats demanded that the FBI investigate not just Christine Blasey Ford’s uncorroborated accusations, but also the charge in the New Yorker’s hit piece that Kavanaugh had exposed himself to a college classmate, Deborah Ramirez, as well as the scurrilous accusation by Michael Avenatti client Julie Swetnick that Kavanaugh participated in gang rapes at high school parties. How can you get any more ruthless than unfounded accusations of gang rape?

Democrats did not lose the Kavanaugh fight because they were not ruthless enough. They lost because, as always, the left overreached. Their increasingly brazen and unsupported charges against Kavanaugh backfired, strengthening the GOP’s case that Kavanaugh was the victim of a political hit job, and actually helping to secure his confirmation.

They also lost because of their disastrous decision last year to filibuster the nomination of Neil Gorsuch, a justice of impeccable qualification and temperament. If Democrats had kept their powder dry then, they would still have had the filibuster in place when Kavanaugh was nominated. As it stands, Republicans were barely able to confirm Kavanaugh; they likely would never have been able muster the votes to invoke the nuclear option to get him onto the court.

In the case of Gorsuch, at least there was no attempt at character assassination. That was because he was a conservative justice replacing a conservative justice, the late Antonin Scalia. His confirmation simply restored the status quo ante. Kavanaugh, by contrast, was replacing Justice Anthony M. Kennedy, the court’s key swing vote. His confirmation could swing the court’s ideological balance for a generation, so he had to be destroyed. If they did this to Kennedy’s replacement, think of what Democrats will do if, at some point in his presidency, Trump ends up nominating someone to replace a liberal Supreme Court justice. It’s hard to imagine anything worse than charges of gang rape, but I doubt we have yet plumbed the depths of the ruthlessness of which Democrats are capable.

Democrats have no one but themselves to blame for Kavanaugh’s confirmation. Their strategic miscalculations, and embrace of what they once decried as the “politics of personal destruction,” backfired. And the reverberations may not yet be over. Since Kavanaugh’s hearings, the number of Republicans who say the November elections are “very important” has grown by 12 points to 80 percent – closing the enthusiasm gap with Democrats. The attacks on Kavanaugh have awoken a sleeping giant. It may not be enough to save the House, where Republicans are defending 25 seats in districts Hillary Clinton won. But the Kavanaugh fiasco may cost Democrats their chance to retake the Senate – and with it the power to block future Trump judicial nominations. If so, it means their search-and-destroy mission against Kavanaugh may end up handing Trump the ability to get even more Supreme Court justices confirmed.

Democrats have also given Republicans reason to look past their frustrations with Trump’s erratic behavior in office. Millions of Republicans put aside their misgivings and voted for Trump in 2016 for one reason: the Supreme Court. Now he has delivered. It has not escaped notice that he never once backed down in his support for Kavanaugh. Even at the lowest moments, there were no signs of wavering, no leaks from the White House that the president was quietly looking at potential replacements just in case Kavanaugh’s nomination failed. At his ceremonial swearing-in Monday, Kavanaugh thanked Trump for his “steadfast, unwavering support.” He’s right. The president stood firm until the end, and won. Now it’s time for Democrats to be honest with themselves about why they lost.

Follow Marc A. Thiessen on Twitter, @marcthiessen.

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From:: The Korelin Economic Report

Raghee Horner – SImpler Trading – Wed 10 Oct, 2018

By Cory댊 Weakness In The Markets Being Lead By Large Caps and Tech

Raghee Horner, Futures and Currency Expert at Simpler Trading joins me to address the selloff in US markets. Being lead by tech and the large caps it is the problem we were pointing out weeks ago in terms of breadth. We also discuss the gold market, which Raghee and I have not discussed for a while, because she is thinking the downside is very limited at this point.

Download audio file (2018-10-10-Raghee-Horner.mp3)

Click here to visit the Simpler Trading website for more of Raghee and her calls.

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From:: The Korelin Economic Report

Company News – Wed 10 Oct, 2018

By Cory댊

walt.jpg

More High Grade Results from Skeena Resources at Eskay Creek

The headline number of 10.97 g/t AUEq over 42.65 meters is one of a three very nice drill holes released today from the Eskay Creek Project. These three holes are all in the 21A zone and are infill and the core is needed for upcoming metallurgical work. The Company released a resource last month for Eskay Creek (click here to read over that news) that showed almost 2 million ounces of high grade gold equivalent.

If you have any questions for the team at Skeena please email me at Fleck@kereport.com. I will be chatting with the President and CEO Walter Coles early next week.

…Here’s the news…

Skeena Intersects 10.97 g/t AuEq Over 42.65 metres at Eskay Creek

Vancouver, BC (October 10, 2018) Skeena Resources Limited (TSX.V: SKE, OTCQX: SKREF) (“Skeena” or the “Company”) is pleased to announce additional Au-Ag drill results for three drill holes from the ongoing Phase I surface drilling program at the Eskay Creek Project (“Eskay Creek”) located in the Golden Triangle of British Columbia. The multifaceted Phase I program is being performed in the historically drill defined 21A, 21C and 22 Zones. A cross section and tabled data are presented at the end of this release and on the Company’s website.

Eskay Creek Phase I Drilling Highlights

  • 9.49 g/t Au, 111 g/t Ag, 10.97 g/t AuEq over 42.65 m (SK-18-009)
    • Including: 17.35 g/t Au, 147 g/t Ag, 19.31 g/t AuEq over 19.65 m
  • 5.93 g/t Au, 166 g/t Ag, 8.14 g/t AuEq over 36.25 m (SK-18-010)
    • Including: 5.66 g/t Au, 296 g/t Ag, 9.61 g/t AuEq over 14.00 m
  • 7.95 g/t Au, 140 g/t Ag, 9.82 g/t AuEq over 33.60 m (SK-18-011)

Gold Equivalent (AuEq) was calculated with the formula: Au (g/t) + [Ag (g/t) / 75]. Reported core lengths represent 80-100% of true widths and are supported by well-defined mineralization geometries derived from historical drilling. Length weighted AuEq composites were constrained by geological considerations as well as a calculated 1.0 g/t AuEq assay grade cutoff assuming reasonable prospects for economic extraction via open pit mining methods. Grade capping of individual assays has not been applied to the Au and Ag assays informing the length weighted AuEq composites. Processing recoveries have not been applied to the AuEq calculation and are disclosed at 100% due to a lack of supporting information. Samples below detection limit were nulled to a value of zero.

Phase I Drilling Discussion

The Phase I drilling program on the 21A, 21C and 22 Zones is designed to infill and improve definition in areas with low drill density to a drill spacing sufficient to allow for future economic analyses, and to collect fresh material for an upcoming metallurgical characterization and testing program. As no historical drill core remains for any zones at Eskay Creek, new material must be collected for this purpose. Overall, the metallurgical drilling program is designed to gather unbiased, representative material that is spatially distributed throughout the various zones that will ultimately be used to optimize future economic analyses.

The 21A Zone represents a significant portion of the pit constrained resources hosted at Eskay Creek, containing Indicated Resources of 207,000 oz AuEq grading 5.9 g/t AuEq and Inferred Resources of 418,000 oz AuEq grading 4.6 g/t AuEq.

Designed to infill an area of Inferred Resources, three drillholes were collared on section 10020N, all of which intersected continuous intervals of exhalative mudstone and footwall rhyolite hosted mineralization. Most notably, drillhole SK-18-009 intersected 9.49 g/t Au, 111 g/t Ag (10.97 g/t AuEq) over 42.65 metres including a subinterval within the mudstone averaging 17.35 g/t Au, 147 g/t Ag, (19.31 g/t AuEq) over 19.65 metres. Situated immediately downdip, Phase I drillholes SK-18-010 and SK-18-011 intersected 5.93 g/t Au, 166 g/t Ag (8.14 g/t AuEq) over 36.25 metres and 7.95 g/t Au, 140 g/t Ag (9.82 g/t AuEq) over 33.60 metresrespectively.

The 21A Zone continues to demonstrate excellent geological and grade continuity and will be further infill drilled during the continuing Phase I program to 20 metre drill spacings to upgrade Inferred Resources to the Indicated category. The 21A Zone is currently drill defined over a large area measuring 420 m along strike and 180 m down dip with true widths ranging from 1 to 80 m in thickness.

21A and 21B Zones – Analogous Mineralization Styles

The 21B Zone is geologically and geochemically equivalent to the 21A Zone and accounted for the bulk of mineralization historically mined at Eskay Creek. The 21B Zone occurs as a tabular, stratiform, fault bounded body characterized by well-bedded, reworked sulfides and sulfosalts interbedded with unmineralized, carbonaceous argillite (mudstone). In addition to the extremely high precious metal grades, Eskay Creek as a whole, particularly the 21A and 21B Zones, is distinguished from conventional VMS deposits by the association with elements of the epithermal suite (Sb-Hg±As). Elevated concentrations of Sb-Hg-As in the 21A and 21B Zones are not evenly distributed throughout the zones but rather occur as isolated clusters due to later stage localized, hydrothermal overprinting.

Although the bulk of the mined material was hosted in the contact mudstone, significant unmined mineralization exists in proximal feeder structures in the footwall rhyolites (21C and Pumphouse Zones). These zones differ geochemically from the 21A and 21B Zones in that they contain low levels of Sb-Hg-As as compared to those hosted in the contact mudstone.

21B Zone Historical Reconciliation

Underground mining at Eskay Creek was performed using the drift and fill mining method with run of mine material either milled at site to generate a concentrate or as direct shipping ore (“DSO”), to smelters. Due to the elevated concentrations of Sb-Hg-As in the 21B Zone, smelter penalties were often prevented via blending with slightly less deleterious material hence diluting the penalty elements while maintaining a profitable head grade.

Based upon historical internal technical reports from the Eskay Creek Mine, the parameters for determining reserves in 2006 were based upon a gold price of US$475.00 per ounce, a silver price of US$8.50 per ounce and a copper price of US$1.50 per pound. The determination of whether material was milled on site versus shipped directly …read more

From:: The Korelin Economic Report

Exclusive KE Report Commentary – Wed 10 Oct, 2018

By Cory댊 Higher Yields and A Shift In The Markets… Where’s The Balance?

Eddie Ghabour, Co-Owner of Key Advisors Group LLC joins me today to share his thoughts on rising yield environment and how this could impact the US markets. Eddie has a target of 3.25% int he 10 year as the peak this year but sees the upward trend in yields continuing next year. As for the markets he is playing a more value focused strategy.

Download audio file (2018-10-10-Eddie-Ghabour.mp3)

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From:: The Korelin Economic Report