Canadian Explorer Advances Two Projects, Including 'Intriguing' Site in Yukon Territory

Source: Thibaut Lepouttre for Streetwise Reports 07/26/2017 With the summer exploration season well underway, Thibaut Lepouttre of Caesar’s Report takes a look at a Canadian explorer with a full exploration program this summer. Now that the summer exploration season is in full swing, Comstock Metals Ltd. (CSL:TSX.V) is also getting ready to provide the market with new drill results. A summer drill campaign has started at the Preview SW project in Saskatchewan, while the Yukon-based QV Gold project will be drilled later this summer. Comstock’s two main projects A) Preview SW, Saskatchewan Drilling has already started at Preview, and it shouldn’t be too difficult for Comstock Metals to add more ounces to the current 430,000-ounce (Indicated + Inferred) resource estimate. The project is located in Saskatchewan, covers a total surface area of just over 850 hectares and is located approximately 250 kilometers north of Prince Albert and 40 kilometers northeast of La Ronge. Although the previous operators and Comstock have discovered seven gold prospects on the property, the current resource estimate containing almost 430,000 ounces at an average grade of approximately 1.61 g/t is limited to just one part of the property, the Preview SW zone. The gold deposit consists of several sub-parallel gold-bearing structures, which seem to trend toward the northeast. All these structures are very close to each other, and the width of the mineralized “corridor” remains limited to approximately 150 meters. While the argument could be made the relatively narrow width of this zone will result in … Continue reading

Don't Go Swimming with the Sharks

Source: Bob Moriarty for Streetwise Reports 07/26/2017 Bob Moriarty, president of 321 Gold, warns investors to never put in market orders when buying or selling junior mining shares. You should never, never ever, put in a market order when buying or selling junior mining shares. The liquidity is so low that it is the financial equivalent of putting a sign around your neck saying, “I’m stupid. Steal from me.” I wrote Nobody Knows Anything a year ago to try to educate investors on the basics of investing they need to know. Some of the most valuable advice is what not to do. When I had someone design a cover for the book, the first cover I selected an investor standing in a boat trying to reel in dollars while the boat floats in a sea of sharks. It makes a great analogy. Everyone you deal with is trying to take your money. The biggest sharks of all are the brokers. They will steal from you in a moment if you allow it. The same stock gave two different perfect examples of what can happen with market orders in just the last six weeks. The stock is Irving Resources. The U.S. symbol is IRVRF and for American buyers not trading the Canadian symbol through Penntrade, everyone else is pretty much forced to buy in the U.S. using the U.S. symbol. It vital that investors understand that on Canadian listed shares with companies domiciled in Canada; the Canadian symbol is the real … Continue reading

Reconciling the US Dollar Outlook with the Super Bullish Gold and Silver COTs

Source: Clive Maund for Streetwise Reports 07/25/2017 Technical analyst Clive Maund charts the U.S. dollar and expects it to trade sideways for a while before continuing its downward trend. Because the dollar has such an important bearing on everything, especially the Precious Metals, it is timely for us to take a close look at it here after its recent steep drop, for as some of you may have seen, a number of indicators pertaining to the dollar suggest that, possibly after some further downside it is likely to bounce, or at least take a rest in a sideways range for a while, before the decline perhaps resumes in earnest. We’ll start by looking at a couple of these indicators. The latest U.S. Dollar Hedgers chart, which is a form of COT chart, is certainly starting to look bullish, and until these positions ease somewhat, further significant downside for the dollar in the short-term looks unlikely. Meanwhile, the latest Dollar Optix, or optimism chart, also shows that pessimism is getting overdone. This doesn’t necessarily mean that the dollar’s downtrend is done, however, as minor rallies can cause this to ease before it then plumbs new lows. These two indicators taken together suggest that a relief rally is likely in the dollar soon, perhaps after it drops a bit lower first, although they don’t mean that the rally will get very far. Alright, so how does this square with our stated super bullish position on the Precious Metals, gold and silver? Well, … Continue reading

GOLD: It's Time!

Source: Lior Gantz for Streetwise Reports 07/23/2017 Lior Gantz, founder of Wealth Research Group, believes that fundamentals for precious metals have been confirmed and expects a major rally. I hate false breakouts. They disgust me, and the entire community despises them! That’s why for the entire duration of the past week, we’ve been checking and confirming this rally from every angle, and I can tell you that the mother of all short squeezes is upon us. My contacts in Asia (India and China), a fund manager in Russia’s gold inner circle, and the people I’ve been using for years in the European capitals of “old money” (Brussels, London, Vienna, and Monaco) have all vetted this short squeeze and indicated that the paradigm has shifted, pursuing the last Federal Reserve minutes and Yellen’s congressional testimony. I even called in to some of the larger Swiss bullion dealers, as a would-be customer with a large order, and they informed me that if I want physical shipment, “I should experience severe delays.” One dealer said they had been emptying parts of the vaults they hadn’t used in 14 months! It’s time to position using your best strategy. For the majority of the past year since our September 2016 flash alert, “Overbought conditions in gold sector signal the top is probably here,” we’ve implored and suggested to take profits on 2016’s thick gains from your winners. Since that time, we’ve been cautious, restrained, almost bearish at times, only pounding the table on the most … Continue reading

Gold: Add a Zero to Your Net Worth

Source: Tom Beck for Streetwise Reports 07/23/2017 Tom Beck, founder of Portfolio Wealth Global, explains why he believes market forces are aligning for a powerful gold trend. Not since launching Portfolio Wealth Global in June of 2016 have I been sincerely bullish on precious metals. Gold is an important commodity. No other metal is suited to be money quite as flawlessly as gold. Many societies have tried and failed to use other systems, but gold has never wavered or disappointed. It does, however, go through cycles, based on how much yield cash savings are generating and how stable the monetary banking structure seems to be. Trump’s elections, surprisingly, boosted confidence for businesses, and the Federal Reserve’s constant teasing regarding rate hikes had calmed investors into believing that things are normal, but the Fed’s reluctance to carry out their multiple rate hike policy has now revealed their real outlook for the economy to us all. This has caused the start to a short squeeze! In case you’re unaware of what this means, it simply suggests that all the institutions naive enough to bet against gold are going to sell their bets while the gold price rises at the same time. If you’ve ever wondered what getting hit by a train head-on feels like, call one of these investors today and ask them how their week was. But I don’t want us to just see our gold bullion position worth more, since I don’t intend on selling my insurance. Instead, I want … Continue reading

Silver Green Alert: One of the Best Buying Opportunities for Years

Source: Clive Maund for Streetwise Reports 07/23/2017 Precious metals are on the threshold of a barn-burner rally, says technical analyst Clive Maund. There will be no equivocating, fence sitting or any kind of hedging or expression of doubt in what is written in this update. Let me be absolutely clear—we are now at the threshold of a barnburner rally in the Precious Metals sector, and silver is set to scream higher driven by a massive short covering panic, because short positions in it have ballooned in recent weeks to levels way above what we saw in December 2015, when silver hit its final bear market bottom, before the big sector rally during the 1st half of 2016. We have been on to this for some time, hence the rash of articles over the past couple of weeks on the site recommending various good-looking gold and silver stocks, and we will look at more this weekend. This is truly a massive opportunity, but these low prices are not going to be around for much longer. So, if you want to fully partake of this rally and buy at the current crazy cheap prices, and haven’t done so yet, you had better pull your finger out and get on with it, because this market is not going to wait on your convenience. Don’t be fooled into thinking that because silver has rallied towards still bearishly aligned moving averages over the past week or so that it must drop back towards its lows … Continue reading

Acquisition of Canadian Gold Company Contributes to Pressure on Stock

Source: Streetwise Reports 07/20/2017 In resuming coverage of Eldorado Gold following the acquisition of Integra Gold and its Lamaque property, BMO Capital Markets analyst Andrew Kaip looked at the impact of the move, as well as at other factors pressuring Eldorado stock. In a BMO Capital Markets July 10 research report on Eldorado Gold Corp. (ELD:TSX; EGO:NYSE), analyst Andrew Kaip wrote, “While we view the Integra acquisition as neutral, based on the benefit of future tax synergies and/or demonstrated resource growth, we expect it will take time for ELD to overcome the perception that it overpaid for Integra,” adding that “benefits of the acquisition also include a step towards diversifying growth away from Greece. We now expect Canada to contribute ~30% of growth over the next 5 years, compared with Greece at ~60%.” After acquiring Integra on May 15, “shares of ELD have declined 33% versus a 7% decline in the GDX and a flat gold price,” Kaip stated. “We typically expect shares of the acquirer to come under pressure as investors arbitrage the deal. However, shares of ELD have continued to underperform relative to peers owing to a number of external events that have placed selling pressure on shares of ELD.” Those external events included “index deletions, Greek arbitration and more recently the production revisions at Kisladag,” the report notes, adding the company “would not meet its original 2017 guidance at Kisladag at 230-245koz, due to higher-than-expected cyanide requirements in the heap leach. Revised guidance was established at 180-210koz … Continue reading

Explorer on Target to Issue Upgraded Resource by Early Fall

Source: Streetwise Reports 07/20/2017 Southern Silver Exploration’s core drill program at Cerro Las Minitas in Durango, Mexico, is coming to an end and the company sees the potential for a substantial resource upgrade, say Robert Macdonald, Southern Silver’s VP for Exploration, and Jay Oness, VP for Investor Relations. In this interview with Streetwise Reports, they also discuss the recently acquired additional claims, the Oro project in New Mexico and the JV with Electrum. The Gold Report: Thank you for joining us today. Southern Silver Exploration Corp. (SSV:TSX.V; SSVFF:OTCQB; SEG1:FSE) is nearing the end of its 2016-2017 core drill program at Cerro Las Minitas in Mexico. What has the drilling revealed? Robert Macdonald: We are currently drilling two holes and will probably drill one or two more before the end of the program. The total meterage will be over 12,000 meters (12,000m) for the entire program that started late last fall. The focus of the program has been to test deeper targets that occurred beneath the currently known deposits, the Blind and the El Sol zones. The current program was successful in delineating a significant mineralized zone beneath those deposits. This target now has an approximate strike length of 650m and a width of up to 350m. This is a significant addition to what we identified previously and will contribute to increasing the mineral resource, which we anticipate updating in early fall 2017. The other significant aspect to the results that we have had to date has been some very encouraging … Continue reading

Gold in Japan, a Nation Unexplored for Many Years

Source: Bob Moriarty for Streetwise Reports 07/20/2017 Bob Moriarty of 321 Gold profiles a company that may have an inside edge in gold mining in Japan. Even though Japan, being on the Ring of Fire, has a long history of high-grade gold mines, the industry has been mostly quiet since the middle of World War II when gold mining in the country stopped. The highest-grade operating gold mine in the world today is located in Japan with a head grade of over 40 g/t gold. That’s the Hishikari Gold Mine located in Kagoshima. I recently traveled to northern Japan to visit some gold projects owned by Irving Resources Inc. (IRV:CSE; IRVRF:OTCBB). Akiko Levinson runs the company; Quinton Hennigh is a director and technical advisor. Doctor Kuang Ine Lu is the onsite exploration and technical expert. Akiko Levinson and Quinton Hennigh first got together at Gold Canyon Resources, which Akiko had been running for many years after the death of her husband who was the president and founder. Until Quinton Hennigh stepped in to advise Gold Canyon, the company didn’t make much progress. Quinton and his team spent eighteen months going over the technical data and rethinking the geological model. In the end the Levinson and Hennigh team took the Springpole gold deposit to about five million ounces of gold. In late 2015 First Mining Finance took over Gold Canyon with the shares eventually reaching a high of $1.31 apiece. When First Mining took over Gold Canyon they let Akiko spin … Continue reading

Nevada and Canada Miner Reports Q2 Production Up 94%

Source: Streetwise Reports 07/20/2017 Preliminary Q2 operating results show production up 94% and sales up 107%, a record for this company’s Nevada and Canadian mines, news that was noted by a trio of industry analysts. Klondex Mines Ltd. (KDX:TSX; KLDX:NYSE.MKT) released its second quarter operating results on July 18, reporting record production and sales. The company noted that it produced 66,629 gold equivalent ounces, a 94% increase from the first quarter, and sold 69,522 ounces, a 107% increase from Q1. Mr. Paul Huet, Klondex’s president and CEO stated, “As expected, the operating results for the second quarter were the best in the company’s history. We processed all of the ore that was stockpiled at the Midas mill at the end of the first quarter plus we continued to execute our mine plans, mining an additional 53,248 gold equivalent ounces in the second quarter.” Analyst Heiko Ihle of Rodman & Renshaw noted in a July 19 company update that the large quarterly increase was “mainly due to a significant increase of production from Fire Creek, which we attribute primarily from the processing of stockpiled ore. . .the company plans on processing Hollister ore through the Midas mill in 2H17, and therefore remains on track to meet 2017 guidance. We highlight that our model estimates 2017 production to reach 219,000 gold equivalent ounces, in-line with management’s 2017 production guidance.” Ihle also stated that at Fire Creek, production “totaled 45,773 gold equivalent ounces, a 138% increase over 1Q17 production. We note that 1Q17 … Continue reading