Eye Opening Currency Charts – Why Metals Are Falling

 

May 22, 2019
Chris Vermeulen
TheTechnicalTraders.com

"... Our predictive modeling systems have been warning that a price advance in Gold and Silver will take place between April/May of 2019 and Aug/Sept or 2019.  We are calling this the “initial upside price leg” because we believe this upside price move will be just the beginning of a much larger move higher for Precious Metals...."

Eye Opening Currency Charts - Why Metals Are Falling

Investors don't forget the great opportunities available with stock warrants:

 

 

Stock Warrants - Power Point Presentation

 

 

 

 

 

Richard Postma – The Doctor Is In – Thu 23 May, 2019

The Disappointing Close For Metals Stocks

This is shorter interview with Doc outlining the disappointing close in the PM stocks compared to how gold and silver performed. While ETFs like GDX and SIL still closed up, it was by less than half a percent. Not a good sign for the overall bullish argument. We also look at the oil sector which was hit hard by selling and is setting up for a new slightly lower trading range.

McEwen kicks off commercial production at Gold Bar in Nevada

Canadian precious metals producer McEwen Mining (TSX, NYSE:MUX) said Thursday it had begun commercial production at its Gold Bar project in Nevada, US, which is expected to generate 50,000 bullion ounces this year.

The Toronto-based miner also said operations will be in charge of Jack Henris, who has years of experience in mine management, having worked at Newmont for 12 years and at Barrick for nine. Most recently, Henris held the vice president of mining and geotechnical position at Goldcorp.

The company says production at Gold Bar has been steadily increasing since the first gold pour in February, and forecasts output of 50,000 ounces, at an all-in sustaining cost of $975/oz. for 2019.

Gold Bar is located in the southern Roberts Mountains within the Battle Mountain-Eureka-Cortez gold trend, about 48km (30 miles) northwest of Eureka, central Nevada, and covers an area of  97 sq. km (37 square miles) contained in 1,196 claims.

The property was previously mined from 1987 to 1994 by Atlas Precious Metals Inc., and the permitting process for McEwen’s project began in 2012.

President and chief operating office, Chris Stewart, said the company plans to begin modifying o the ore crushing and stacking system this summer to mitigate the impact of challenging winter weather like the 2018/2019, which was the wettest winter ever recorded in the US.

Once at full-tilt, the open-pit mine is expected to generate 65,000 ounces of gold annually over an 8-year mine life.

Sustained growth

In the past four years, Rob McEwen — one of the gold’s industry’s best-known bulls — has been aggressively working on expanding his company, which already has producing mines in Mexico, Argentina and most recently also in Ontario, Canada.

His goal is to take McEwen Mining to the Standard & Poor's 500 Index, which groups the 500 largest companies that list either in the NYSE or NASDAQ.

The Canadian resources magnate expects to get there through a combination of organic growth in production, as well as mergers and acquisitions.

McEwen's priority this year is advancing exploration at its Timmins, Ontario, properties.

In 2017, McEwen acquired junior exploration company Lexam VG, which gave it access to mineral properties in advanced exploration stage in the heart of Timmins Gold Camp, northern Ontario. Later that year, it completed the acquisition of Black Fox mine and, by December, it announced it was speeding up exploration activities at its newly acquired properties near Timmins, Ontario.

In January, McEwen said exploration at its Timmins properties would be a priority for the company in 2019, adding that it had set aside C$20 million for that purpose.

The miner recently conducted a drilling program on the Black Fox property with the intention of expanding known mineralized trends near existing mining areas.

They included laterally, along the Black Fox Mine’s western flank and central mine and down-plunge at the Deep Central Zone below the 820-metre level.

“For a mine with a history of producing 5 grams per tonne of gold, these drill assay results are very encouraging. These results highlight the significant potential of our exploration to extend the mine life at Black Fox and improve its profitability,” Sylvain Guerard, McEwen’s senior vice-president of exploration, said in a separate release.

McEwen also noted that results of drilling at Grey Fox, an exploration property located within the Black Fox area, suggests a new mineralization.

The post McEwen kicks off commercial production at Gold Bar in Nevada appeared first on MINING.com.

Dunnedin acquires copper-molybdenum-silver project in Arizona

Dunnedin Ventures (TSXV: DVI) announced that it has closed the acquisition of 100% of the Mohave copper-molybdenum-silver porphyry project in Mohave County, Arizona, from Bluestone Resources.

Mohave is a 10-square-kilometre property located in the mineral producing Basin and Range Province of Arizona and 33 kilometres west of Freeport McMoran's Bagdad copper porphyry mine.

According to Dunnedin, limited exploration at Mohave to date indicates the potential to discover a sizeable porphyry style copper-molybdenum-silver deposit.

In 2011, Bluestone drilled 11 core holes at Mohave and reported anomalous mineralization over significant intervals in all holes

"Historic geological, geochemical and geophysical data shows the project has many hallmarks of a silica-rich calc‐alkalic porphyry system such as Cu-Mo-Ag geochemical anomalies and structural controls that are associated with Laramide intrusions, analogous to those described at Bagdad; and a complex Cu-Mo-Ag emplacement that is related to lithological and structural events with younger Mo-Ag and Pb-Zn-Ag overprints," the Vancouver-based company said in a media statement.

Dunnedin reports that examples of reported historic values include 0.49% Cu over 59.4 m, 0.2% Cu, 0.011% Mo, and 2.35 g/mt Ag over 65.8 m and 0.3% Cu, 0.01% Mo, and 2.54 g/mt Ag over 70.7 m.

"The work to date strongly indicates that there is a large system of porphyry style Cu-Mo-Ag mineralization present at Mohave and we have a number of promising targets which we intend to follow-up on in the fall," Claudia Tornquist, President of Dunnedin, said in the press brief. "At Mohave, we will benefit from the excellent work done by the previous operator Bluestone from whom we inherited a comprehensive suite of high-quality exploration data."

The post Dunnedin acquires copper-molybdenum-silver project in Arizona appeared first on MINING.com.

Jordan Roy-Byrne – Techncial Commentary – Wed 22 May, 2019

Is $1,220 gold and $12 silver a sure thing?

With so much talk about $1,220 gold I wanted to ask Jordan Roy-Byrne, Founder of The Daily Gold about what he is seeing in the chart. We also look at GDX and silver in terms of another solid bottom.

Click here to visit Jordan’s site and follow along with his calls for metals and metals stocks.

David Erfle – Gold Market Commentary – Tue 21 May, 2019

Balancing The Contrarian Trade For PMs With The General Downtrend

David Erfle joins me today to share his comments on the argument for a contrarian trade in the metals. This needs to be balanced out with the bearish set up on the charts and the time of year we are in. With stock prices generally lower it is not the first time we are hearing now is a time to build some positions so when the turn happens you are positioned.

Click here for more information on The Junior Miner Junky.

BHP more bullish on long-term EVs prospects

World’s largest miner BHP (ASX, NYSE: BHP) has lifted its forecasts for the global adoption and sales of electric vehicles (EVs), but warns the electrification of the transport sector will proceed only as fast as the development of charging infrastructure.

It now estimates that at least 132 million EVs will be on the world's roads in 2035, and at least 561 million in the middle of the century. These numbers are its "low-case" forecasts, and it also suggested take-up could be higher.

By 2050, BHP expects more than one in four light vehicles on the world's roads to be electric, or 27%, up from its earlier forecast of 21%.

Huw McKay, BHP’s vice president, market analysis and economics, said Tuesday the company estimates EVs comprising at least 7% of the world's light vehicle fleet in 2035, up from 5% in previous estimations.

By 2050, the giant mining company expects more than one in four light vehicles on the world's roads to be EVs, or 27%, up from its earlier forecast of 21%.

McKay attributed the new estimates to declining battery costs and rising interest among automakers, particularly in China.

"Globally established automakers and China's up-and-coming indigenous firms are embracing EVs, with model availability increasing steadily and many self-imposed sales targets instituted," he wrote.

BHP more bullish on long-term EVs prospects

BHP, already the world's second-biggest listed copper miner, has been taken steps towards increasing its presence in the red metal sector and other battery metals markets as of late.

Copper is a key component of the lithium-ion batteries used in the electric vehicles, as well as power inverters and in the charging infrastructure needed to keep them running.

It has also revealed plans to transform itself into the world’s biggest suppliers of nickel sulphate — another key component in lithium-ion batteries that power EVs.

Only last week, chief executive Andrew Mackenzie reaffirmed BHP’s commitment to supply the EV markets by announcing it would not divest its Nickel West operation as previously planned.

The post BHP more bullish on long-term EVs prospects appeared first on MINING.com.

Fresnillo warns of ‘more challenging’ 2019

Fresnillo said on Tuesday the current year would be more challenging than 2018 as a number of industry variables were "working against" the precious metals miner. The company, which posted a 15% drop in first-quarter silver production last month, said it was "disappointed" not to meet its long-term silver output target and that it was taking action to address this "in a number of ways".

Richard Postma – The Doctor Is In – Mon 20 May, 2019

Time Frames For Gold, Silver, and Gold Stocks To Run Higher

This year might not get exciting, actually Doc thinks it will be pretty boring for the metals, but he says this year will be the best time to buy PM stocks. Doc shares his timetable for when a more sustainable uptrend could develop for gold, gold stocks, and silver.

Chris Temple from The National Investor – Fri 17 May, 2019

Metals getting hit but it’s a story of gold vs other metals

Chris Temple joins me to outline the moves today starting with the metals markets. A broad selloff in the metals but as Chris points out it’s more a story of gold vs other metals. All the other metals are moving down in response to continued global weakness but gold is another story. We also touch on the move higher in the USD which is setting up for another higher weekly close.

Click here to visit Chris’s site for more valuable commentary on the markets.