MANILA – A Philippine senator has filed a bill urging a halt to exports of unprocessed mineral ores, similar to a ban introduced by Indonesia that led to a sharp spike in nickel prices and cut exports of other ores.

The Philippines, which has vast but largely untapped mineral resources, has been looking at ways to raise the contribution of mining to its economy.

The bill, filed in late August by Senator Paolo Benigno Aquino, a first cousin of President Benigno Aquino, would require domestic processing of all minerals extracted in the country prior to export if passed into law.

This may require nickel miners, for example, to build more smelters to process the ore before shipment. Some ores are shipped directly to China and Japan for processing.

The Philippines currently has two processing plants for nickel both owned by the country’s top producer Nickel Asia Corp , two for gold, and one for copper, according to the Mines and Geosciences Bureau.

Paolo Benigno Aquino is one of 24 members of the upper house Senate, which is dominated by allies of the president.

“This measure seeks to generate more domestic income, attract more investments, and lead to more jobs and livelihood for the Filipino people,” the bill said in its explanatory note.

Mining contributed less than 1% of the Philippines’ gross domestic product from 2003 to 2012, the note said.

more http://www.miningweekly.com/article/philippines-senator-files-bill-to-ban-mineral-ore-exports-2014-09-03

He’s hitting on all cylinders!

Next up … “The Fresno Chapter.”

The Libya of today, is no more the Libya we used to know, it is changing for the worse, at the speed of light.

The Islamists of Tripoli have gone the extra mile and have booted the last ministries of the government entrusted to rule the country by the elected assembly, out of the capital to their exile seat in Tobrouk. Their argument on that is that they did not get rid of the dictator Gadhafi to bring in Western Christian democracy, the Libyan people want the government of Sharia. So after this incident, the forced coexistence with the liberals is definitely a thing of the past.

more http://stratrisks.com/geostrat/20843

tell us he likes gold in Euro and Yen terms.

must be a delayed reaction thing.

“God of Crude Oil Trading” Goes All In On Crude At $150 Bet

Tyler Durden’s pictureSubmitted by Tyler Durden on 09/03/2014 21:10 -0400

Andy Hall – known as the God of Crude Oil Trading to some of his peers – has, according to Bloomberg, built his success on a simple creed: Everyone who disagrees with him is wrong. He was one of the few traders who anticipated both the run-up in and the eventual crash of oil prices in 2008. Hall has made billions for the companies for which he’s traded by placing one aggressive bet after another; and now, he is all-in again. Hall is going all in on a bet that the shale-oil boom will play out far sooner than many analysts expect, resulting in a steady increase in prices to as much as $150 a barrel in five years or less. As one industry CEO warned, “anybody who bets against Andy Hall might be making a poor bet.”

more http://www.zerohedge.com/news/2014-09-03/god-crude-oil-trading-goes-all-crude-150-bet

There was some news about Almaden yesterday …

Almaden Announces Ixtaca Gold-Silver Deposit PEA Update Showing Significant Capital Savings And a Ramp-Up Alternative Case

http://finance.yahoo.com/news/almaden-announces-ixtaca-gold-silver-130000101.html

It’s like Alice in Wonderland. What’s next … pay your employer to be allowed to work?

I see gold just jumped … 🙂

Almaden – AAU is catching  nice bid this am. Didn’t see it on your news list.

PARIS (AP) — Responding to international pressure, France suspended the delivery of a warship to Russia at least until November amid security concerns over Moscow’s role in the Ukraine crisis, officials said Wednesday.

The Vladivostok, the first of two Mistral-class helicopter carriers ordered by Russia, was due to be delivered next month as part of a 1.2 billion euro ($1.6 billion) contract — the biggest-ever sale of NATO weaponry to Moscow.

The second ship, named Sevastopol, ironically, after a port in the Russia-annexed Crimean Peninsula, has been slated for delivery next year.

http://finance.yahoo.com/news/france-suspends-delivery-warship-russia-160825664.html;_ylt=AwrBJR.FSAdUn1oAnHzQtDMD

yeah, such a deal, pay to deposit your cash in a broke bank. Unbelievable.

Looks to me like the Draghi party in Germany is fading.

They’re cutting rates because their economies are doing so well. I’m gonna move my funds there as soon as possible.

Newmont signs MoU with Indonesia govt, to resume copper exports next week

http://finance.yahoo.com/news/newmont-signs-mou-indonesia-govt-040646229.html

Beaufield Resources Inc.: Geologica to Complete a NI 43-101 Report for the Launay Property, Québec

http://finance.yahoo.com/news/beaufield-resources-inc-geologica-complete-123000115.html

In Shocking Move, ECB Cuts By 10 Bps, Sends Deposit Rate Further Into Negative Territory

Submitted by Tyler Durden on 09/04/2014 07:49 -0400

While everyone was expecting Mario Draghi to announce ABS purchases, few if any had expected the ECB to also cut rates. Which it just did whacking its corridor rates across the board by 10 bps, in the process sending the Deposit Facility rate even further into negative territory, now down at -0.2%.

From the ECB’s monetary policy decision:

At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:

• The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.05%, starting from the operation to be settled on 10 September 2014.
• The interest rate on the marginal lending facility will be decreased by 10 basis points to 0.30%, with effect from 10 September 2014.
• The interest rate on the deposit facility will be decreased by 10 basis points to -0.20%, with effect from 10 September 2014.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.

To be sure, the EURUSD is down nearly 100 pips on the news, and this is even before Draghi has announced his “Private QE” which announcement is due in 45 minutes.

So now that it will cost Europeans even more to deposit money at the bank, here is a snapshot of how delighted, giddy locals from the Old Continent are reacting to this latest ploy to fix “stuff” by the ECB.

Did you read a little further on down the line?  Something about a razor trim? Well, I have been known to shave a lady’s leg or two in a bubble bath. and a stranger to a toothpick I aint. Course that may be getting outta bounds for the Oasis. Yet, still good to know how those northern folks stay warm in the  winter.

Hope those Gators get it together. Aint gonna be much fun ithis season if you all don’t play in the rain.

Best, Farmboy

Cows can make a man a good steak, and some milk. Here…..think I found what you’re looking for…meet Mr & Mrs American,

 moo

of a North bound mule, while he lets off a little gas. Yet, there are some, that will hang on his every word. 🙂 And those talking heads on Fall St. Funny how we folks pick our Gurus aint it?  Thinking how ‘they’ know whats best for us.

seems gold is putting up a little fight this morning. I wont be happy, get too excited, until gold has some triple digits showing up on the charts. then I will know, the game rigger are loosing the battle, and our Precious is assuming it’s rightful place. Everything else is just bankster noise till then. Course, I guess these markets are a nickel flipper’s joy. Wish I was smart enough to play em. On the other hand, I got real chores to do, like take out the garbage. Sad aint it….how those daily chores are the highlight of a Goldbug day.

Well, at least aint no one shootin at me today. Or standing over me poised to cut my head off. Course, the way things are going….wouldn’t surprise me none. Course, with the President we have, I figure he will get around to it sooner or later if he can. I use the term President loosely. He aint my  President by any stretch of the imagination. And when he gets off Air Force One from some golfing mission, those Marines show more discipline when they salute the clown than I could ever show.

Just call me disenchanted , Farmboy

Well, I appreciate the education in ‘bushwhacking’. Always good to learn something new. Guess us Southern folk don’t talk about such things as much. What happens down by the creek bed, or lakeside, or even in the Hay Barn, pretty much stays there. Getting harder these days to spend a little time with your gal in private. I figure with all these gubberment cameras they are putting up everywhere, and now talk of drones….well, the good ole days of skinny dipping and running nekked in some field is about over.

Guess I was lucky to have grown up in more innocent times. About the only thing I had to look over my shoulder was that Gossip Bench down at the church. What they did not know….it sure seems they could make up stories. (grin)

Well, I raise a cup of coffee in your honor this morning. Cheers, and I hope you get bushwhacked real soon. 🙂 And if a Southern Boy is the bushwhacker, I am sure it will be an experience to remember, and that Gossip Bench, can talk about for years to come.

Best, Farmboy

And welcome to my world. Lot of us Americans feel the same way. But I think the numbers of us freedom loving ones are not as much as they once where. You know, I am beginning to think our Elected Ones are selling us out. I want you to keep a few acres on some lake available just in case I need to get out of here one day. I don’t mind a few beavers for neighbors if it comes down to it. Fact is I probably get along with animals much better than I do people. Animals are smart. 🙂

Best, Farmboy

Appreciate the cup of coffee this morning. Trying a new off the shelf brew this morning. Folgers  Dark. Not a bad cup of coffee.

Interesting take on that ‘bushwhacking’ mystery. Leave it up to a gal from Illinois to teach me a something new. lol Been around the world a few times, but I think ole Puptent knows more than I do. (grin)

Well, I pretty much think a man should be willing to learn at any age. I wonder…..what this brand new day has to teach me today. Last few days it seems back pain has been the Teacher. Think I got that lesson pretty good. Wonder whats next? Something a little less painful is my hope. But will take whatever is dealt out. Figure as long as I wake up, and able to have a cup of coffee, I got a head start on the day. 🙂

Best to you and that Lady Bug, Farmboy

Always thought it was chopping your way through heavy brush, until I found this.

http://www.urbandictionary.com/define.php?term=bushwhacking

Chop away, Farmboy. OUCH!