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RonS

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  • RonS
    Keymaster
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    Here is my chart from yesterday with comments

    “”Very interesting and bullish developments on the long term chart. There is strong support at 5
    cents with only a brief dip below this when flow through funds dumped their stock last year. For
    the most part, these funds are only invested for the tax break and just rotate money into new
    finance deals. That long term support (black line) with the blue down trend line is forming a
    wedge pattern that the stock will break out from. I have no doubt will be to the upside.

    The flow through funds are pretty much done selling. There was about 3 million flow
    through shares that became free trading around mid September and their immediate selling
    whacked the stock down from the 9 cent area to the current 6 cents. TD has also been a seller
    last few months as quite a few retail investors bailed at the bottom here. Interesting is Raymond
    James has been a big buyer, usually meaning U.S. buying. There might be a little fund share
    selling left and we might see some tax loss sellers. Tax loss selling usually peaks around
    December 15th, so between now and then is an excellent time to accumulate.””

    RonS
    Keymaster
    none
    Interesting chart. So far this gold bull market has been driven by Central Banks, mostly eastern banks. We are seeing the first sign that Western buyers are waking up with a slight rise in ETF holdings. The last time western buying came int ETFs, gold ran from $1300 to $2000

    RonS
    Keymaster
    none
    Not much more shorting or short covering in the gold stocks

    RonS
    Keymaster
    none
    Move over BHP, the ext one is coming, but we are just not certain when. Maybe these next drill results.

    Excellent article on the lack of exploration for copper, so far just buying other miners out. According to BHP would Zonte has is scarce (large greenfield project)

    https://www.miningweekly.com/article/a-copper-ma-frenzy-masks-big-miners-hesitation-to-build-2024-09-20

    Michael Fonti BHP’s main exploration geologist has spent more than two decades on sites much like this one, working most recently at the miner’s nearby Olympic Dam, a vast, challenging copper and uranium operation. But even for BHP — a $140-billion company which generated almost $12-billion in free cash flow in the last financial year — large, greenfield projects are scarce, and becoming more so. Deals, not discoveries, are grabbing the headlines.

     

    Richard Schodde, a veteran geologist and expert on South Australia’s copper belt, puts the number of discoveries made each year at only a handful. He describes BHP’s lucky strike at Oak Dam in 2018 “was probably the most spectacular” of recent years.

    Price is clearly one reason holding back the splurge that could change that. Copper has enjoyed a bull run on fears of supply disruption and hopes of soaring green demand. Prices topped US$11,000 a ton earlier this year. But the global economy is faltering and copper needs to reach $12,000 a ton — a near-30% jump on current prices — to incentivize large-scale investments in new mines, according to Olivia Markham, who co-manages the BlackRock World Mining Fund.

    Copper’s improvement since the price trough of 2020 has not been enough. Costs are rising too fast as exploration teams need go deeper, into more technically challenging deposits or into less desirable regions.

    RonS
    Keymaster
    none

    Kinross has completed a Preliminary Economic Assessment (PEA) for the Great Bear project which supports the Company’s acquisition thesis of a top tier high-margin operation in a stable jurisdiction with strong infrastructure. Based on mineral resources drilled to date, the PEA outlines a high-grade combined open pit and underground mine with an initial planned mine life of approximately 12 years and production cost of sales3 of $594 per ounce. The Project is expected to produce over 500,000 ounces per year at an all-in sustaining cost (AISC)1 of approximately $800 per ounce during the first 8 years through a conventional, modest capital 10,000 tonne per day (tpd) mill.

    Kinross has also released an updated mineral resource estimate increasing the inferred resource estimate by 568koz. to 3.884 Moz. which is in addition to the existing M&I resource estimate of 2.738 Moz4. The mineral resource estimate and PEA for the Great Bear project are available here.

    RonS
    Keymaster
    none
    Hi ron, just to be clear and for others. This is working the same as the old site. You have to subscribe to the topic. Remember, many people don’t want piles of messages in their in box, and maybe only want the messages with stocks they own?

    This gives users total choice and control

    The $$Lounge chat is not too busy yet, but I am getting way more subscribers to this site. Soon in the future I will send an update to everyone about the chat $$Lounge and some basic instructions

     

    Hope this helps

    RonS
    Keymaster
    none
    Alex, thanks for starting this and Gambler, yes I saw that Casey youtube on the weekend. Crazy if it is all a clerical error?
    RonS
    Keymaster
    none
    So far so good on today’s buy. But have to get the timing right on the sell yet
    RonS
    Keymaster
    none
    Fed cuts in election year

    Great comments guys, but look at this
    The last time the Fed cut rates within two months of an election was in 2008 when the Fed chopped rates to near zero during the Great Recession. Before that, the Fed cut rates in 1992 as the economy slowed. Neither of those rate cuts helped the incumbent party to stay in power, as in both years the White House changed hands from Republicans to Democrats.
    According to history, whenever the Fed cuts, Democrats win

    RonS
    Keymaster
    none
    ron and all. I tried something and for now, if you email me your avatar, I can upload it for you
    RonS
    Keymaster
    none
    ron and all. I tried something and for now, if you can email me your avatar. I can change it for you. Right no it is set to generate a random generic once
    RonS
    Keymaster
    none
    Hi ron and all, still working on the issue to upload avatars

    Not sure how long you have to edit posts. My web developer is on a weeks vacation so will get more details when he is back.  I am still learning all the ins and outs of the new site, but we will get it down working to a tee!!!!!!

    RonS
    Keymaster
    none
    Junglist, at 8 cents or so, about the best buy it ever offers. Drilling should start any day and I think best to buy ahead of

    those coming results

Viewing 13 replies - 1 through 13 (of 13 total)