Loading ...are trying pretty hard to engineer a short squeeze in the SM – another kitchen sink being thrown – or it could just be another war rally. Wall Street loves war.
Surprised gold is still holding up.
Buygold @ 10:35
That money coming out of the SM has to go somewhere. Bonds? I guess some of it … but I can think of a better place! 🙂
Seabridge Gold on the lookout for JV partner as KSM keeps on giving
TORONTO (miningweekly.com) – Having had modest beginnings in the 1800s with placer gold discovered in the vicinity of Canadian project developer Seabridge Resources’ flagship KSM project, located in north-west British Columbia, the project has grown to a mammoth size, today being the largest undeveloped gold/copper reserve in the world.
According to the TSX-listed firm’s 2011 updated prefeasibility study on the KSM project, it contains National Instrument 43-101-compliant proven and probable reserves of 38.5-million ounces of gold and 9.9-billion pounds of copper.
“Having so many ounces and pounds in reserve is great to have, but is also one of our challenges. Because of its size, it really can only be successfully built and operated by one of the large gold companies. We are unfortunately not one of those large companies and our strategy is to join forces with a senior partner to develop the project as a joint venture (JV),” Seabridge chairperson and CEO Rudi Fronk told Mining Weekly Online in an interview.
He revealed that Seabridge had currently entered into several confidentiality agreements with senior companies in both the gold and the base metals sectors, and was confident that the company would announce a JV transaction in the “not too distant future”.
“We invite the major companies that we believe can build and operate a mine of our size and give them access to our data room. We are not interested in selling the company at these valuations, we would be able at this point to create more value for our shareholders through a strategic partnership with the right partner that is able to do the heavy lifting,” Fronk said.
Ipso
yeah the Saudi’s fed a rabid dog and have no idea what it will do next, including coming after them.
As for the SM, the boyz seem to be having a harder time with keeping it levitated for the last couple of weeks. Looks to me like money is coming out faster than they can prop and moving into bonds. Wish it was moving into pm’s at the same clip.
BTW – USD is getting whacked pretty good right now.
Buygold @ 10:25
I bet the Saudi’s are having second thoughts about funding ISIL. They helped create a true monster, and one that may well turn and bite them.
Richard640
What a disaster for the Iraqi people that we ever went in there. Sadam or ISIS that would be an easy choice. Just ask any of the Iraqi minority religions-peoples.
I’m sure the first thing ISIS did when they seized that dam was to plant explosives in it. Just to give themselves the option.
R640 – “why not flatten ISIL”
Maybe because they are at least in part funded by the Saudi’s? ISIL is Sunni if I remember correctly.
We sure have turned that place into a disaster. They were so much more stable under Saddam.
Ipso–I was being facetious about that…but there IS an interest for the U.S. and
Europe in the free flow of Iraqi oil–so I am surprised that we just let Iraq fall apart–plus that disintegration confirms a loss of our honor and prestige…what’s left of it…
Richard640 @ 10:13
Oh that’s just normal market action …. Yeah right!
ISIL and Hamas–are exactly the same–and that’s what the U.N. and the whole world want
Israel to make peace with…Hamas is a mortal enemy of Israel…let’s hope Israel wipes them out–and liberates the people of Gaza from their reign of terror
Richard640
I agree with your sentiment regarding ISIL. If any group deserves the label of EVIL then it’s them.
As far as “Iraq has oil that rightfully belongs to the U.S”
Can you explain this a little more?
Ipso-I went to bed early & woke up at 4:30-then I went to the bathroom to micturate…
[that’s important to know]–then I turned on the TV Box. DOW futs were down 60 or 70 pts…gold up $6.50 or so…then I went back to sleep–woke up again at 7:30 and checked CNBC only to see DOW cuts UP & G&S down….indeed, the Boyz aren’t giving up without a fight….
Sounds over the top? I dunno? If true then they deserve some bombs on their heads.
Chaldean Christian Leader: ISIS Is BEHEADING CHILDREN in Iraq
Chaldean Christian Leader: ISIS Is BEHEADING CHILDREN in Iraq (Video)
Ipso–the whole world has gone mad…
Iraq has oil that rightfully belongs to the U.S,–our Prez truly is a Nero fiddling…why not flatten ISIL in June or sooner–now they have metastasized in Iraq–like a cancer–and will be hard to “cut out”…if they start losing they will burn the oil fields–like ole Saddam did in Kuwait and explode the damm Dam…olr Saddam was what was needed to rule–just like Tito was needed–and Assad is a 1000 times better than the ISIL scum–
Buygold
I don’t think the Boyz can keep the SM levitated forever. Look what’s going on in the world. Eventually the SM junkie will lose it’s fix and down it’ll go.
With the PM shares going opposite. err … I think.
Ipso
Let’s hope that’s the case. Shares seem to want to follow the metals. Get the feeling that if the metals would pop the shares would explode.
The boyz are throwing the kitchen sink at the SM to keep it from cratering before the weekend.
Bonds keep rallying
10 yr yield down to 2.39%
Seems to suggest that all is not well in La La Land.
Here come pm’s. Definitely going inverse the SM.
Morning Macroman
Yeah Van Der Sloot is the big cheese around these parts. Big Romney donate and Repubs in general.
Might get a little chilly in Europe this winter
Ukraine Prepares To Impose Russian Gas Transit Ban, Commit Economic Suicide
Ukraine ready to impose sanctions against any transit via its territory, including air flights and gas supplies to Europe, Prime Minister Arseniy Yatsenyuk said Friday. Ukraine’s Parliament will vote on the sanctions on Tuesday. Kiev has also prepared a list of 172 Russian citizens and 65 companies predominantly Russian to put under sanctions for “sponsoring terrorism, supporting the annexation of Crimea, and violating the territorial integrity of Ukraine,” Yatsenyuk said at a briefing on Friday.
Proposed sanctions include asset freezes, bans on certain enterprises, bans on privatizing state property, refusing to issue licenses, and a complete or partial ban on transit- both aviation and gas.
“We simply have no other choice,” the Prime Minister said, adding that Ukraine will use part of the $17 billion IMF aid to achieve energy independence, and may go to the World Bank for help.
Good morning Oasis
McEwen Mining Q2 2014 Financial & Operating Results
http://finance.yahoo.com/news/mcewen-mining-q2-2014-financial-231101241.html
Freeport Indonesia says copper exports resumed as tax dispute ends
http://finance.yahoo.com/news/freeport-indonesia-says-copper-exports-032624358.html
Morning Oasis – CNBS Reports
Pentagon confirming airstrikes against ISIS in Iraq.
A few bombs here, a few drone strikes there. The American way.
Winedoc
Stay cation, good one, have to remember that one.