Thursday, March 30, 2017

Silver Prices Plunge in February 2013

February 28, 2013 by · Leave a Comment 

Silver prices moved lower Thursday, adding to already weighty losses in February. Silver futures for May delivery settled down 55.3 cents, or 1.9%, to $28.43 an ounce on the Comex in New York. The precious metal touched an intraday low of $28.40 an ounce and reached a high of $29.19 an ounce. And with the day’s loss [...]

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Jeff Nielson: Smaller gold mining companies can be more profitable than big ones

February 28, 2013 by · Leave a Comment 

GATA

11:20p ET Thursday, February 28, 2013

Dear Friend of GATA and Gold:

In the final installment of his series “A Golden Opportunity with Miners,” market analyst Jeff Nielson writes that smaller gold mining companies and projects can be more profitable and less problematic than big ones, at least once they get into production. Nielson’s commentary is posted at Bullion Bulls Canada’s Internet site here:

http://www.bullionbullscanada.com/gold-commentary/26068-a-golden-opportu…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Interviewed by TF Metals Report, Jaitly and Maguire cite rising backwardation in gold

February 28, 2013 by · Leave a Comment 

GATA

11:09p ET Thursday, February 28, 2013

Dear Friend of GATA and Gold:

Interviewed this week by Turd Ferguson of the TF Metals Report, Sandeep Jaitly, investment manager and strategist at First International Group in London and editor of The Gold Basis Newsletter, and London metals trader and silver market whistleblower Andrew Maguire comment on rising backwardation in the gold market. Maguire says the backwardation has gotten extreme and has reached levels that in the past have preceded violent rises in the gold price.

The interview with Jaitly is 22 minutes long and can be heard at the TF Metals Report here:

http://www.tfmetalsreport.com/podcast/4528/tfmr-podcast-40-sandeep-jaitl…

The interview with Maguire is 29 minutes long and can be heard at the TF Metals Report here:

http://www.tfmetalsreport.com/podcast/4531/tfmr-podcast-41-andrew-maguir…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

‘Checkmate’ for gold against the dollar

February 28, 2013 by · Leave a Comment 

GATA

9:13p ET Thursday, February 28, 2013

Dear Friend of GATA and Gold:

Contrary to the disparagement of its detractors, GATA isn’t a “conspiracy theory” organization — it’s a public records, freedom-of-information, accountability-in-government organization that mainly pursues and publishes official statements and documents constituting evidence and confirmation of the Western central bank gold price suppression scheme, evidence and confirmation that GATA’s detractors never can discuss or even acknowledge:

http://www.gata.org/taxonomy/term/21

But tonight let us call your attention to commentary that — while not only mere speculation but, worse, anonymous speculation — is so intelligent and informed (and largely though not completely in tune with GATA’s thinking) that anyone interested in the gold market should consider its outline of the scheme and purposes of gold market control.

Of course many gold market followers are already aware of this outline — drawn more than a decade ago by the anonymous posters “Another” and “Friend of Another” at the now-closed Forum of the Internet site of Centennial Precious Metals in Denver, USAGold.com, and now elaborated upon at an Internet blog by still another anonymous market watcher, “Friend of Friend of Another.”

FOFOA’s latest elaboration, titled “Checkmate,” summarizes and quotes extensively from the “Another” and “Friend of Another” dialogues and offers his own conclusions. “Checkmate” is recommended not as a hard assertion of what is definitely happening but as an idea of what well may be — and probably is — happening, an idea that may illuminate future events.

All that any gold market watcher (or journalist) has to do to confirm or repudiate it is to interrogate a few central bankers about their involvement in the gold market. Their refusal to provide information should be evidence enough of profound suspicion. If sufficient funds ever become available, GATA will sue to extract the information from the United States government’s side of the scheme:

http://www.gata.org/node/11606

In any case, that GATA has had to struggle for more than 13 years to establish among gold market participants and the financial news media the most obvious proposition that Western central banks are both primary and largely surreptitious players in the gold market looks awfully small in light of what is probably happening. Indeed, in light of what is probably happening — control of the world financial system by an unelected and secretive banking elite — the planet’s supposed democracies themselves look awfully small.

FOFOA’s “Checkmate” is posted at his — or her — Internet site here:

http://fofoa.blogspot.com/2013/02/checkmate.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Deals this week: Western Pacific, Lara Exploration and more

February 28, 2013 by · Leave a Comment 

Resource company Western Pacific signed an agreement to acquire the Deer Trail Mine in Piute County, Central Utah from the Deer Trail Mining Company, a subsidiary of Unico for $7m to be paid over two and a half years.

Read more….

MZI Resources posts 60% resource rise at Keysbrook project

February 28, 2013 by · Leave a Comment 

Australian mineral sands company MZI Resources has posted a 60% increase in resources at its Keysbrook project in Western Australia, registering 78.9 million tonnes.

Read more….

Iron Ore Holdings, Mineral Resources to develop Iron Valley project

February 28, 2013 by · Leave a Comment 

Australia’s Iron Ore Holdings and Mineral Resources have signed a $150 million to develop the Iron Valley project in Pilbara, Western Australia.

Read more….

A Golden Opportunity With Miners, Part III

February 28, 2013 by · Leave a Comment 

By Jeff Nielson, Bullion Bulls Canada

Parts I and II of this series presented an overview of the precious metals mining sector. There it was noted that these companies have been (in the most neutral terminology possible) chronically undervalued in our markets.

The basic business model of these miners (and all commodity-producers) was described/explained. Specifically, it was demonstrated that over time all such producers must “leverage” the price of the commodity they produce – as a basic proposition of arithmetic.

However, despite being in the best-performing commodity sector for the past 12 years, and despite the superlative fundamentals for precious metals going forward; as the saying goes, all gold- and silver-miners “are not created equal.” Notably, there is a dramatic schism between the large-cap corporations in this sector (which tend to attract the most investor dollars and attention) and the smaller producers.

To understand the night-and-day difference between these companies, it’s best to begin by looking at the typical large-cap business model with respect to precious metals miners. As with large corporations in general, their philosophy is the epitome of simplicity – in other words utterly simplistic. Bigger is better.

In a world populated by small corporations, and blessed with abundant resources; this simplistic mantra was in fact a general economic truism…about a hundred years ago. In today’s world of scarce resources, already over-populated with mega-corporations; it is a dinosaur-strategy, assuring one’s path to extinction.

While this observation is appropriate to most of the corporate world, it is especially easy to illustrate the truth of this (modern) principle by examining precious metals mining. Look at every large gold mining company on the planet, and one will see the clear illustration of a strategic decision by management: the choice to operate a (relatively) small number of mega-mines, versus choosing instead to produce gold from a larger number of smaller mines.

At a very elementary level, this strategy may seem to represent wisdom. The simplistic corporate mantra is that larger operations must be “more efficient” than smaller ones. While this assertion is not necessarily true in general, it is patently untrue with respect to precious metals mining (and most forms of mining).

In a world of diminishing resources, resource-scarcity necessarily implies two realities in mining. The number of (undeveloped) “large deposits” in the world is steadily declining, and the “grades” (i.e. richness) of the ore is also steadily declining. This means extracting/crushing/refining more and more tons of ore to get less and less ounces of gold.

From an environmental standpoint, this is an appalling dynamic. To begin with, the amount of environmental disruption/devastation which results from mining operations rises exponentially with the size of the mine. One large mine (typically) doesn’t produce an equal amount of “pollution” to four mines, ¼ its size; but often two or three times that quantity.

Yet even from the standpoint of corporate efficiency this is clearly an inept if not suicidal strategy. In our world of scarce resources, nowhere is this reality more apparent (and expensive) than with respect to energy. At best (i.e. producing high-grade ore from efficient mines), mining companies represent a highly energy-intensive form of industry.

Deliberately choosing to produce gold from deposits with rapidly declining grades, in an economic paradigm of soaring energy costs, in an energy-intensive industry is nothing less than a recipe for destroying one’s own profit margins. Out of desperation, the large-cap gold miners have turned to polymetallic deposits for their jumbo mines, bolstering their sagging bottom-lines by using the “credits” from these other metals to offset soaring production (energy) costs.

More articles from Bullion Bulls Canada….

2013 Aurora Australis Silver Coin Glows in the Dark

February 28, 2013 by · Leave a Comment 

One of the Perth Mint of Australia’s most popular annual series now features its newest release with the glow in the dark 2013 Aurora Australis 1 Ounce Silver Coin. The Aurora Australis coin is in one ounce of 99.9% pure silver, produced to proof quality and features a maximum mintage of 7,500. Shown on the [...]

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2013 Australian Koala 5 Ounce High Relief Silver Coins

February 28, 2013 by · Leave a Comment 

The Perth Mint of Australia expands its intensely popular koala silver coin series with a new high relief size. Available now are proof 2013 Australian Koala 5 Ounce High Relief Silver Coins. These proof coins are each struck from five ounces of 99.9% pure silver and feature high relief obverse and reverse designs. The mintage [...]

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