Bob Moriarty's Outlook on 2019

Source: Maurice Jackson for Streetwise Reports 12/11/2018 In a wide-ranging conversation, Bob Moriarty of 321 Gold discusses with Maurice Jackson of Proven and Probable geopolitics, economics, Bitcoin, precious metals and more. Maurice Jackson: Joining us for conversation is Bob Moriarty, the founder of 321 Gold and 321, and also the author of two of my personal favorite books, “The Art of Peace,” and “Nobody Knows Anything.” Mr. Moriarty, welcome to the show, sir. Bob Moriarty: It’s very good to talk to you today, and it’s very funny because those are two of my favorite books, too. Maurice: Sir, it’s always an honor to have you on our show. I would like to begin our discussion on your outlook for 2019. What are some topics of interest that we should focus on beginning with the political and economic landscape of the United States? Bob: You’ve got to separate those, and we can do that, from an economic point of view. The trade war is a total disaster. It can only do damage. It already has done substantial damage. I think the everything bubble has popped, and we could see some real fireworks in 2019! The stock market has either topped or will top soon. Gold and silver appear to be bottoming. Platinum is the lowest relative to gold it has ever been. So, I’m literally buying platinum and I’m buying silver right now. I think that we may have a few more weeks of tax loss silly selling in the … Continue reading

Gold Company Advances Yukon Project with Resource Update, Construction Progress

Source: Streetwise Reports 12/11/2018 The mine remains on schedule for first gold delivery in the second half of 2019. Victoria Gold Corp. (VIT:TSX.V) has recently provided two updates on its Canadian property: one on the Eagle mineral resource and another on construction work at the project. According to a news release, the updated mineral resource at Eagle encompasses results from 58 drill holes and core holes, all done after the 2016 feasibility study (FS). “The additional drilling at Eagle has converted Inferred ounces to Indicated ounces, increased overall Measured and Indicated (M&I) ounces and maintained grade,” President and CEO John McConnell said. Specifically, the new Eagle estimate reflects 450,000, or 12.4%, more M&I gold ounces than specified in the FS. Also, the M&I resource grade is 2.4% higher, consistent with the grade in the prior FS. Resources in the Inferred category grew by 204,631 ounces. As for construction progress at the Eagle mine, it is 60% complete, Victoria Gold reported in a different news release. The target for first gold pour remains H2/19. Regarding individual components of the overall project, earthwork is mostly done. Concrete work, about 93% finished, should be finished by year-end. Structural steel work is 32% complete and moving at a solid pace. “Mechanical contractors have mobilized to site, and equipment is currently being installed in the gold recovery plant and the secondary and tertiary crushing facility,” noted the release. Those facilities are the focus of the current work. “The progress to date is impressive, and we … Continue reading

Joint Venture's First STACK Well in the Osage Still Producing Strongly

Source: Streetwise Reports 12/11/2018 The well’s performance bodes well for the rest of the partners’ acreage in the play. Jericho Oil Corp. (JCO:TSX.V; JROOF:OTC) provided an update on its initial Oklahoma STACK Joint Venture well in the Osage Formation in a Dec. 3 news release. The Swordspear 15-23N-10W #1H has now been in production mode for 160 days, since installation of an electrical submersible pump that can accommodate high fluid volumes. During that time period, it yielded an average of 330 barrels per day of oil equivalent, consisting of 50% oil, the company stated. “The strength and, more importantly, the longevity of the Swordspear well’s production profile, has given the company great confidence in its northern STACK acreage position,” the release noted. Commenting on the near term, CEO Brian Williamson said in the release, “Our current well results, 2019 planned development, coupled with surrounding marque peer wells planned for Q4/18 and Q1/19 will provide a springboard of net asset value for our STACK JV.” Read what other experts are saying about: Jericho Oil Corp. Sign up for our FREE newsletter at: Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are sponsors of Streetwise Reports: … Continue reading

Owning Precious Metals in an IRA

Source: Maurice Jackson for Streetwise Reports 12/10/2018 Andy Schectman of Miles Franklin Precious Metals Investments discusses with Maurice Jackson of Proven and Probable some benefits of holding precious metals in IRAs as well as some other tax advantages of precious metals. Maurice Jackson: Welcome to Proven and Probable. Joining us is Andy Schectman, the president of Miles Franklin Precious Metals Investments. In our previous interview, we addressed the value propositions and opportunity of a lifetime available right now in silver and platinum. Today, we will address two very important topics regarding tax law selling in precious metals RAs. Mr. Schectman, before we begin, for first time listeners, who is Miles Franklin, and what type of services do we provide? Andy Schectman: Thanks, Maurice. I’m going to address that in one second, I just want to say for your listeners, they ought to go back and listen to that last interview. I wouldn’t say something as sincere as I believe it to be the opportunity of a generation in silver right now and a strong opportunity in platinum. I really do believe that. And I know we’re not going to talk about that today, so I would really hope that your listeners would go and take advantage of listening to that. It’s as sincere as I can be. Miles Franklin, Maurice, is a precious metals company, been in business now for 29 years in the state of Minnesota. We’ve never had a customer complaint, ever. We’re one of only 27 or … Continue reading

On the Search for a Major Copper Porphyry in Peru

Source: Maurice Jackson for Streetwise Reports 12/10/2018 Bill Pincus, president and CEO of Miramont Resources, speaks with Maurice Jackson of Proven and Probable about his company’s latest exploration efforts in Peru. Maurice Jackson: Joining us for a conversation is Bill Pincus, the president, director and CEO of Miramont Resources Corp. (MONT:CSE; MRRMF:OTCQB), which is developing new opportunities in world-class mining districts. Bill, we have some great news to share with current and prospective shareholders, but before we begin, for first-time listeners, please share who is Miramont Resources, and what is the thesis you’re attempting to prove? Bill Pincus: Miramont Resources is a junior exploration company. We have two copper gold projects in Peru. Both are relatively early-stage prospects. One (Cerro Hermoso) is ready to drill, and one is getting near ready to drill, so what we’re looking for, what our thesis is, we’re looking for large bulk tonnage that has the potential to be very significant type ore deposits. Maurice Jackson: Bill, provide us with some historical context on the region in Peru where Miramont has its projects. Bill Pincus: We’re working in Southern Peru, which is known as one of the world’s great copper provinces. You have the giant mines of Toquepala, Cuajone, Cerro Verde, and Quellaveco is now being developed. These all produce hundreds of thousands of tons of copper metal annually. Our project, Lukkacha, is located right in this belt. We’re about 10 kilometers from one of the newer porphyry projects, by, I believe it’s Anglo American. … Continue reading

Gold Major 'Talks Future': Production, Capex and Costs

Source: Streetwise Reports 12/10/2018 BMO Capital Markets report reviewed the longer-term metrics. In a Dec. 6, 2018, research note, analyst Andrew Kaip reported that Newmont Mining Corp. (NEM:NYSE) gave updates on its 2019 and longer-term outlook, with next year’s numbers being generally “in line” with some variations. Production and capital requirements came in higher and all-in sustaining cost (AISC) lower than BMO’s forecasts. Kaip reviewed and compared the specific figures. For 2019 production, Newman guided to 5.2 million ounces (5.2 Moz), higher than BMO’s projected 5.1 Moz. For 2020 production, the miner forecasts 4.9 Moz and longer term, annually through 2023, 4.4–4.9 Moz. Kaip pointed out that “Newmont’s guidance does not include a number of development projects yet to be approved, which we include, such as Tanami phase two and the next phase of Long Canyon.” Taking those into account, BMO estimates the company can maintain about 5 Moz of production through 2023. As for capital requirements, the mining company guides to $1.07 billion for 2019. This compares to BMO’s projection of $965 million. “Relative to our estimates, Newmont’s capital is lower, but we include a number of growth projects that are currently in its pipeline,” noted Kaip. Management expects capex to drop to $730 million in 2020 and subsequently remain around $500–600 million through 2023. Newmont’s projected long-term sustaining capital requirement of $450–550 million is lower than BMO’s estimate, which is “closer to current spending levels,” Kaip indicated. Regarding costs, Newmont’s 2019 AISC projection is $935 per ounce ($935/oz) … Continue reading

Gold Producer Summarizes 2018 Results from British Columbia Exploration

Source: Streetwise Reports 12/08/2018 The Canadian company has a roughly 70,000-meter drill program planned for 2019. Pretium Resources Inc. (PVG:TSX; PVG:NYSE) provided an update, in a news release, on 2018 exploration activities at its Bowser claims in British Columbia and outlined 2019 follow-up plans for that area and the Valley of the Kings. Recent exploration efforts included 8,000 meters of drilling on the 1,200 square kilometer Bowser claims, which are east of the Brucejack mine and encompass the American Creek, Bluffy, Koopa and Upper Kirkham zones. Overall, the results “confirm the presence of Brucejack-style, high-grade gold mineralization hosted in broad zones of low-grade stockwork, highlighting the potential for discovery of porphyry-related copper-gold mineralization and high-level epithermal mineralization on the property,” the company noted. Results from the follow-up geophysical program are being processed. As for specific zones, at American Creek, 25 kilometers (25 km) southeast of Brucejack, drilling intersected broad areas of low-grade mineralization at the north end along with an upper expression of a polymetallic epithermal vein system near the center. Assay highlights included 1.82 grams per ton (1.82 g/t) gold over 6.6 meters (6.6m), including 9.19 g/t gold and 196 g/t silver over 0.74m, in hole BR-001. Drilling at Bluffy, 30 km south-southeast of Brucejack, hit “broad zones of low-grade gold hosted in shear zones, which contain narrow veins of high-grade gold and base metal values,” according to the release. Koopa, 30 km east-southeast of Brucejack, showed a “structurally controlled epithermal system appears to be overprinting a volcanogenic massive … Continue reading

Lithium Company Expands Land Position in Carolina Tin Spodumene Belt

Source: Streetwise Reports 12/08/2018 The new acquisitions are in line with this firm’s strategy to consolidate the region. Piedmont Lithium Ltd. (PLLL:NASDAQ; PLL:ASX) increased its land package via acquisition at its Piedmont lithium project by 15% to 1,383 acres, it announced in a news release. The acquisitions were strategic, with 122 of the purchased acres being located in the Carolina Tin Spodumene Belt (TSB), where Piedmont’s Core property sits. The significant new parcels related to Core are contiguous, 55 acres in the southeast and 20 acres in the west. Together, they expanded Core’s acreage by 93 acres or 18% to 622 in all. Both of these recent acquisitions expanded highly prospective strike length at Core, the southeast acres adding more than 600 meters (600m) along the F corridor and the west acres adding more than 400m along the B corridor. “These two properties have significant potential to add to the current Core resource,” the release stated. “We have found high-grade mineralization in over 90% of the holes we’ve drilled on the TSB, and our expectation is that the larger our land position, the larger our ultimate resource and mine life will be,” President and CEO Keith Phillips stated in the release. Piedmont plans another drill program to explore these new properties, to upgrade Inferred resource ounces to Indicated, to change the exploration target areas to Indicated ounces where possible and to follow up previous drilling at Central. The company is currently finalizing targets for its phase four drilling. The new … Continue reading

Follow-up Thailand Appraisal Well 'Tests 659 Barrels Per Day'

Source: Streetwise Reports 12/06/2018 A Mackie Research Capital Corp. note reviewed the new result. In a Dec. 3, 2018, research note, Bill Newman, a Mackie Research Capital Corp. analyst, reported that Pan Orient Energy Corp.’s (POE:TSX.V) appraisal well L53-DD2 is now producing at about 659 barrels per day (659 bbl/d) of 23.9 degree API oil from the EE sands, “the lowest of the four pay zones.” On a net basis, this equals about 330 bbl/d of oil. The L53-DD2 well is located within Pan Orient’s L53 concession, and tested at this stabilized rate over a five-day period. It will be left to produce for the remainder of the 90-day test period. Newman highlighted that the rate of oil L53-DD2 is producing is roughly comparable to what the discovery well L53-DD1 in the DD sands tested at, which was about 780 bbl/day, or 391 bbl/d net. Therefore, combined production from L53-DD1 and L53-DD2 is about 1,759 bbl/d, or 879 bbl/d net. “We are very encouraged with the initial test results of both wells, which we expect to generate significant cash flow to fully fund a development and exploration program in Thailand in 2019,” Newman noted. That effort will constitute drilling of three wells: a second appraisal well, L53-DD3, on the L53-DD field in January; an appraisal well on the L53-B field; and an exploration well, L53AC-E, targeting the West A fault compartments in August. Newman summarized that within the DD field at the L53 concession, five oil-bearing sands have been encountered. … Continue reading

Large Silver and Zinc Resource Found South of the Border

Source: Streetwise Reports 12/06/2018 A major partnership with an Australian mining and metals company that is funding exploration is paying off with a large increase in the resource estimate this explorer released. Silver Bull Resources Inc. (SVB:TSX; SVBL:NYSE.MKT), a Canada-based mineral exploration company, released at the end of October an updated resource for the Sierra Mojada project, located in Coahuila, Mexico. Recent measurements showed 5.35 billion pounds of zinc and 87.4 million ounces of silver. Sierra Mojada Resource Update Highlights ● An open pittable, measured and indicated “High Grade Zinc Zone” of 13.5 million tonnes at an average grade of 11.2% Zinc at a 6% cutoff for 3.336 billion pounds of zinc. ● An open pittable, measured and indicated “High Grade Silver zone” of 15.2 million tonnes at an average grade of 114.9 g/t at a 50g/t cutoff for 56.3 million ounces of silver. ● Total Measured & Indicated Global Resource 70.4 million tonnes at 38.6 g/t Ag and 3.4% Zn that contain 5.354 billion pounds Zn and 87.4 million ounces Ag. ● The updated resource was modelled using a silver price of US$15 per ounce, and a zinc price of US$1.20 per pound. Source: Silver Bull Resources “This resource update models the mineralization defined at Sierra Mojada to zinc and silver prices realistic of the current market conditions,” stated Tim Barry, president, CEO and director of Silver Bull. “Sierra Mojada is one of only a handful of projects with any appreciable zinc resources and is one of the largest … Continue reading