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Junior Mining

ANACONDA MINING Announces $5 Million Term Loan with Royal Bank of Canada

TORONTO , March 12, 2019 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (ANX.TO) (ANXGF) is pleased to announce that it has entered into a $5 million term loan (the “Facility”) from the Royal Bank of Canada (“RBC”). The Facility will provide the Company with enhanced financial flexibility and allow it to complete all pre-construction activity at its 100%-owned Goldboro Gold Project in Nova Scotia (“Goldboro”) without further equity financing. In 2019, Anaconda expects to finalize a feasibility study for Goldboro and complete all work required to obtain mining permits to be shovel-ready in early 2020. The Facility was arranged with the support of Export Development Canada (“EDC”), which has issued a performance guarantee over half of the principal amount.

“The financial commitment from RBC and EDC demonstrates their confidence in the Anaconda management team, the continued cash flow generation at the Point Rousse Project, and our overall ability to advance our growth plans in Atlantic Canada . The Facility now enables us to execute on our business plan in an accelerated, focused manner, with our debt service obligations easily funded from our mine operations. This Facility, combined with our continued free cash flow generation from the Point Rousse Project, will enable us to advance the Goldboro Gold Project to a construction-decision stage in early 2020, at an exceptionally low cost of capital and without any dilution to our shareholders.”

~ Dustin Angelo , President and CEO

Terms of the Facility

The Facility is repayable monthly over a 24-month term with certain prepayment options. It is subject to an existing general security agreement with RBC and a debt service coverage ratio covenant to be measured on an annual basis, based on a ratio of a measure of earnings to interest expense and scheduled principal payments. The Facility was arranged with the support of EDC, which has issued a performance guarantee over half the principal amount. The Facility carries a fixed interest rate of 4.6% and performance guarantee fee by EDC of 1.85%, payable quarterly based on the proportional amount outstanding. The full $5 million has now been drawn and the initial monthly payment is due 30 days from drawdown.

ABOUT ANACONDA

Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia . The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland , comprised of the Stog’er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, deep water port, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject to a 2018 a preliminary economic assessment which demonstrates a strong project economics. The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .

ABOUT EDC

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, EDC equips Canadian companies with the tools they need – the trade knowledge, financing solutions, investments, insurance, and connections – to take on the world with confidence. Underlying all of EDC’s support is a commitment to sustainable and responsible business.

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda’s annual information form for the year ended December 31, 2018 , available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE Anaconda Mining Inc.

View original content: http://www.newswire.ca/en/releases/archive/March2019/12/c4239.html

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Junior Mining

Field Work Targeting High-Grade Gold at Yandicoogina, Pilbara, WA

VANCOUVER , March 12, 2019 /CNW/ – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton“) is pleased to announce the commencement of initial field work at Pacton’s Yandicoogina Project, where historical results from surface sampling have reported up to 199.7 g/t Au. The work program is targeting high-grade, shear-hosted gold within a number of mineralization settings and will use rock chip sampling and mapping to prioritize targets for drill testing.

Highlights:

  • Strike length: 4.7 km cumulative strike length of mapped anomalous quartz vein structures hosting gold mineralization.
  • Historical sampling results show strong gold mineralization in multiple locations:Rock chip sampling reported results of up to 199.7 g/t Au at surface (Western Australia Geological Survey).
  • Prioritizing targets for upcoming drill program: Results from the current program will be used to rank targets based on further exploration potential and to prioritize for drill testing planned for 2019.
Figure 1. Pacton's Yandicoogina Project. Note: Geology, historic locations and grades were obtained from Western Australia Geological Survey archives. Grades noted in Figure 1, and historic mine production statistics of 198.8 kg from 3,232 t of ore yielding an average grade of 61.52 g/t gold do not conform to current disclosure standards, and are not to be relied upon. (CNW Group/Pacton Gold Inc.)
Figure 1. Pacton’s Yandicoogina Project. Note: Geology, historic locations and grades were obtained from Western Australia Geological Survey archives. Grades noted in Figure 1, and historic mine production statistics of 198.8 kg from 3,232 t of ore yielding an average grade of 61.52 g/t gold do not conform to current disclosure standards, and are not to be relied upon. (CNW Group/Pacton Gold Inc.)

Dale Ginn , Executive Chairman of Pacton Gold, stated, “Pacton’s Yandicoogina project hosts high-grade gold bearing systems that are readily apparent and exposed at surface. It also has coarse nuggets from surface prospecting that appear to be from a vein source and have not been subjected to significant transportation. What the project lacks is any significant amount of drilling to depth. Our initial program will therefore focus on prioritizing targets for drill testing the high-grade concentrations at Yandicoogina.”

Yandicoogina Project

The Yandicoogina Gold Project is located 52 km to the south east of Marble Bar in the Pilbara Region of Western Australia . The Project covers a contiguous land holding of 164 km2 consisting of two granted exploration tenements (E45/3474 and E45/3571) and three granted mining leases located inside tenement (E45/3474).

Access to the project from Marble Bar is via the Marble Bar Road to the south east thence via station tracks which take you toward the Black Shepherd Mine.

The Project covers an extensive portion of the Warrawoona Archaean Greenstone Belt. Previous exploration activities have predominantly focused towards the greenstone portion of the project with a considerably limited effort placed on the Mt Edgar Mylonite Complex which is host to the high-grade Death Adder and Granite Prospects.

The initial work program will involve detailed geological mapping and rock chip sampling of priority defined prospects including Granite, Death Adder, Black Shepherd, Uncle Tom and Trilby. Through completing this first phase of activities a further understanding of the controls and extents of mineralisation for each of the prospects will be obtained. Prioritization, drill planning and permitting to drill will commence immediately following the completion of the initial work program.

About Pacton Gold

Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high grade conglomerate and orogenic gold properties located in the district-scale Pilbara gold rush in Western Australia and the Red Lake District, Ontario .

The technical content of this news release has been reviewed and approved by Dale Ginn , P.Geo., a director and Executive Chairman of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.

On Behalf of the Board of Pacton Gold Inc.

Dale Ginn
Executive Chairman

This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances. References to other issuers with nearby projects is for information purposes only and there are no assurances the Company will achieve similar results.

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Pacton Gold Inc. (CNW Group/Pacton Gold Inc.)
Pacton Gold Inc. (CNW Group/Pacton Gold Inc.)
Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/field-work-targeting-high-grade-gold-at-yandicoogina-pilbara-wa-300810576.html

SOURCE Pacton Gold Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2019/12/c6373.html

Categories
Base Metals Junior Mining

FISSION Hits Strong Mineralization Outside of Current High-Grade Domain Model and Advances Mine Planning

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Precious Metals

MILES FRANKLIN If It Sounds Like I’m Repeating Myself-It’s Because I Am.

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Junior Mining Precious Metals

Book Review: Basic Investing in Resource Stocks-The Idiot’s Guide, by Robert Moriarty

By Jayant Bhandari / March 09, 2019 / Article Link

In the recent years investors have lost a lot of money in the resource sector. This shouldn’t have been the case had investors paid attention to the work of Bob Moriarty. Exactly when the sector was losing money, Mr. Moriarty was investing in resource stocks—of the likes of Novo Resources and Irving Resources—that made him 10 to 20 times his investment. In some cases, more.
As Warren Buffet says, “People make investing… more difficult than it should be.”
In his book, “Basic Investing in Resource Stocks—the Idiot’s Guide,” Mr. Moriarty provides a common-sense approach to investing in the resource sector.
“You will make mistakes when investing, but make sure you make new ones.”
Those who have focused their investment life in the resource sector, as I have, tend to think that it is full of idiots and liars, or those living a lifestyle using shareholder money. Mr. Moriarty thinks that other sectors are worse.
Referring to the cryptocurrency mania—which he calls “Bitcon”—about which he started writing on 321gold when it was peaking, he says that total value of Bitcon has fallen from $800 billion to $136 billion. I thought that there was a typo. Had he written “billions” instead of “millions?” But his wasn’t an error. A massive amount of money has changed hands, from gullible people to conmen or street-smart traders.
But the biggest con of all is the fiat currency system that surreptitiously steals people’s money and puts the future generation into bondage. This cannot continue. A “great reset” awaits, for there are far too many systemic risks today.
A product of the fiat currency is the derivative business, a boondoggle that poses significant systemic risks.
All debts must be paid, and the world is awash with it. There are far too many black swans for one not to come into the scene. “The Gilets Jaunes movement of France is merely the opening scene,” says Mr Moriarty. That is where protecting oneself from what is another person’s liability is important, making gold (or silver or platinum or palladium or rhodium) one of the ways to preserve one’s wealth.
In the investment space, a lot of wealth is getting destroyed, misallocated or moving into the hands of conmen, private or public, leaving gullible investors high and dry. What one must learn early on is the concept of probabilities before one starts throwing one’s dice.
One, however, cannot depend on the advice of “experts,” which reminds me of “Nobody Knows Anything,” another book by Mr. Moriarty.
Mr. Moriarty advises people to have the courage—once they have studied their homework properly—to have contrarian thinking, even if it goes completely against the emotions of the market.
There is legitimate information in the market and there is noise. Internet should have made it easier for information to flow freely. Alas, it is noise that has grown bigger than the real signal.
“Change your mind when information changes” makes common-sense, except that most people are resistant to changing their views. The end result is that 90% of investors lose money. While Mr. Moriarty advises not to be a part of that 90%, he is happy they exist, to help him make the extra money.
Read the above words of wisdom in his short and sweet book, including the description of the resource industry, and some saucy stories of his investments.
Jayant Bhandari

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Blog

GREAT BEAR Drills New Gold Intercepts Along Fold Axis at Dixie Including 31.40 g/t Gold Over 0.70 m at 64 m Depth – Expands District Land Holdings

Vancouver, British Columbia–(Newsfile Corp. – March 11, 2019) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”),  today reported drill results from reconnaissance drilling to the west of the Dixie Hinge Zone (“DHZ”) at its 100% owned Dixie Project in the Red Lake District of Ontario, and acquisition of new district properties covering additional gold mineralization targets.

Two exploratory drill fences were completed 150 metres and 400 metres west of the current DHZ drilling, along the D2 fold axis that is interpreted to be a significant gold control, using the recently added second drill rig as shown on Figure 1. All 5 of 5 drill holes intersected gold mineralization. Highlights include:

  • 31.40 g/t gold over 0.70 metres within a 2.70 metre interval of 8.70 g/t gold at only 64 metres vertical depth. An image of gold within this new high-grade intercept is provided in Figure 2.
  • Multiple gold-bearing veins were intersected in 2 of the 5 drill holes.
  • The newly discovered gold veins may comprise significant strike length extensions to the DHZ vein system or may be new gold zones; further drilling is required.
  • The second drill rig continues to drill test new targets across the Dixie property.

Table 1: Results of reconnaissance drilling to the west of the Hinge Zone. All widths are drill indicated core length and insufficient data exists to determine true widths and vein orientations at this time.

Drill Hole From (m) To (m) Width (m) Gold (g/t) Vertical Depth (m)
DSL-016 83.30 86.00 2.70 8.70 64
including 83.30 84.00 0.70 31.40
DSL-017 126.00 127.50 1.50 2.95 106
and 255.30 255.80 0.50 1.11 214
DSL-018 75.30 75.80 0.50 3.84 54
and 214.65 217.15 2.50 2.68 154
including 214.65 215.15 0.50 6.32
DMS-001 35.77 39.20 3.43 2.09 29
including 38.00 39.20 1.20 4.95
and including 38.00 38.70 0.70 6.67
DMS-002 47.25 50.10 2.85 2.43 43
including 47.65 48.45 0.80 4.58

Additional drilling has also been completed within the Hinge Zone, results of which have not been received at the time of this release. DHZ drill results will be released once assay results are received and processed.

Chris Taylor, President and CEO of Great Bear said, “In a district where 25 metre step-out drilling is considered aggressive, our new reconnaissance drill holes located 150 metres and 400 metres from the Hinge Zone have yet again shown the extensive footprint of gold mineralization at Dixie, and the apparent importance of major D2 fold axes as regional gold controls. We look forward to further drilling in these areas to determine if these are separate new gold discoveries, or whether the Hinge Zone extends through this entire strike length.”

The Company notes that gold-bearing veins have now been drilled over a strike length of approximately 500 metres from the easternmost Hinge Zone drill holes to the newest drilling to the west. This veining is located on the south side of an ultramafic body and fault that are sub-parallel to the regional D2 fold axis.

Figure 1: Map of reconnaissance drill holes west of the Hinge Zone, adjacent to a D2 fold axis. Drill holes DL-016, 017 and 018 are located 150 metres west of current Hinge zone drilling. Holes DMS-001 and 002 are located 400 metres west of current Hinge Zone drilling.

Cannot view this image? Visit: https://media.zenfs.com/en-us/newsfile_64/f433a0c0c489fc8c5d826761a872f0da
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To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5331/43327_f645824f944a3b76_002full.jpg

The Company also notes that the next interpreted D2 fold axis to the north, also shown on Figure 1, also hosts high grade gold within a quartz feldspar porphyry dike, including 30.20 g/t gold over 0.55 metres, within a wider interval of 12.41 g/t gold over 1.5 metres in hole DL-009, which was drilled by the Company in late 2017. This second fold axis is also an exploration target for future step-out drilling.

Figure 2: Image of newly discovered high-grade gold returning 31.40 g/t gold over 0.70 metres at 64 metres depth, from reconnaissance drill hole DSL-016, located west of the DHZ.

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To view an enhanced version of Figure 2, please visit:
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Great Bear is currently undertaking a fully-funded 30,000 metre, approximately 150 drill hole program that is expected to continue through 2019. A second drill rig was added to the project in February 2019 to accelerate this work and is now drilling additional gold targets.

Property Acquisitions

The Company also reports new low-cost, royalty-free property acquisitionsadding to its strategic land positions in the Red Lake District of Ontario.

The newly acquired properties will be mapped and prospected in summer 2019, with minimal impact on the Company’s current Dixie property exploration budget and program. A map of the acquired properties is provided in Figure 3.

Chris Taylor continued, “Following our recent drill success at Dixie, the total staked area within the Red Lake district increased by over 150%, constituting the area’s largest staking rush in decades. We have completed a model-driven geological review of the district using the Dixie property’s D2 fold and deep-seated structural gold controls as guides. This work suggests additional prospective areas for gold mineralization, which we have now secured, royalty free. We intend to prospect the new properties in summer 2019.”

Figure 3: Map of newly acquired and optioned properties in the Red Lake district.

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To view an enhanced version of Figure 3, please visit:
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Great Bear has not completed sufficient work on the new properties to verify results from historical work.

Dedee Property

Highlights of the Dedee property include:

  • Covers the western strike extensions of the major regional D2 fold axial plane that is interpreted as a control of the new high-grade gold discoveries at Great Bear’s flagship Dixie property.
  • Two folded greenstone belts are interpreted at Dedee that mimic the geometry of the Dixie folded greenstones.
  • Historical drill reports of sulphides similar to the Dixie Limb Zone mineralization that were never assayed for gold.
  • Conductive trends similar to the Dixie Limb Zone have also been identified in historic unpublished geophysical surveys; at Dixie, these led Teck Resources to the original gold discovery of the 88-4 zone and associated gold; they are also prospective targets at Dedee.
  • 15,300-hectare land area (153 square kilometres)
  • Road accessible though logging roads, approximately 20 minutes drive from Red Lake

The Dedee property was acquired in part through staking, and will be acquired in part through an inexpensive royalty-free option agreement with an arm’s length third party. Terms of the option portion of the acquisition are:

(a) $6,000 upon signing the option agreement;

(b) 15,000 shares after receiving acceptance of the Exchange for the issuance of the shares under this agreement;

(c) $10,000 on or before the date that is one year after the Effective Date;

(d) $12,000 on or before the date that is two years after the Effective Date;

(e) $16,000 on or before the date that is three years after the Effective Date; and

(f) $24,000 on or before the date that is four years after the Effective Date.

Pakwash Property

The 3,100-hectare (31 square kilometre) Pakwash property is located southeast of the Dixie property and covers portions a major regional fault structure lying along English River sediments. Historical work has identified gold lake sediment anomalies which are coincident with regional fault zones and gold-in-soil (MMI) anomalies which have not been followed up with detailed exploration.

The Pakwash property will be acquired through an inexpensive royalty-free option agreement with an arm’s length third party. Terms of the option agreement are:

(a) $10,000 upon signing the option agreement;

(b) 25,000 shares within seven (7) business days of receiving acceptance of the Exchange for the issuance of the shares under this agreement;

(c) $8,000 on or before the date that is one year after the Effective Date;

(d) $12,000 on or before the date that is two years after the Effective Date;

(e) $15,000 on or before the date that is three years after the Effective Date; and

(f) $20,000 on or before the date that is four years after the Effective Date.

Sobel Property

The 3,200-hectare (32 square kilometre) Sobel property, is located along the strike extension of the main D2 fold axial plane that is a major interpreted control of gold mineralization at the Red Lake Gold Mine, operated by Goldcorp.

The property overlies prospective Balmer Sequence rocks of the main Red Lake greenstone belt.

The Sobel property will also be acquired through an inexpensive royalty-free option agreement with an arm’s length third party. Terms of the option agreement are:

(a) $10,000 upon signing the option agreement;

(b) 30,000 shares within seven (7) business days of receiving acceptance of the Exchange for the issuance of the shares under this Agreement;

(c) $12,000 on or before the date that is one year after the Effective Date;

(d) $20,000 on or before the date that is two years after the Effective Date; and

(e) $20,000 on or before the date that is three years after the Effective Date.

The Company has elected to buy out all the outstanding royalties on the newly optioned properties for total consideration of 38,500 shares of Great Bear.

The schedule of optional payments for all of the optioned properties can be accelerated at any time at the Company’s discretion in order to achieve full ownership at an earlier date. The options may also be terminated at any time subsequent to the initial cash and share payment.

About Great Bear

Great Bear’s flagship Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined 10-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in the West Madsen, Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to SGS Canada Inc. in Red Lake, Ontario, and Activation Laboratories in Ancaster Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Selected samples with visible gold are also analyzed with a standard 1kg metallic screen fire assay. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43327

Anonymous

 

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SPROTT’S THOUGHTS Sprott Media Digest


Excerpts:

To Grow and Protect Your Portfolio… Save the Goose

By Alexander Green, Chief Investment Strategist, The Oxford Club The greatest threat to this long-running bull market is not a tightening Fed, higher valuations or moderating corporate profits… It’s the growing clamor for regulatory and redistributive policies that will reduce innovation, lessen productivity and undermine the economy. Investors are famous for being worrywarts. Day after […]
Read on »

Sprott U.S. Media, Inc. is a wholly owned subsidiary of Sprott Inc., which is a public company listed on the Toronto Stock Exchange and operates through its wholly-owned direct and indirect subsidiaries: Sprott Asset Management LP, an adviser registered with the Ontario Securities Commission; Sprott Private Wealth LP, an investment dealer and member of the Investment Industry Regulatory Organization of Canada; Sprott Global Resource Investments Ltd., a US full service broker-dealer and member FINRA/SIPC; Sprott Asset Management USA Inc., an SEC Registered Investment Advisor; and Resource Capital Investment Corp., also an SEC Registered Investment Advisor. We refer to the above entities collectively as “Sprott”.
The information contained herein does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.
Forward-Looking Statement
This report contains forward-looking statements which reflect the current expectations of management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, and similar expressions have been used to identify these forward-looking statements. These statements reflect management’s current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this document. These factors should be considered carefully and undue reliance should not be placed on these forward-looking statements. Although the forward-looking statements contained in this document are based upon what management currently believes to be reasonable assumptions, there is no assurance that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this presentation and Sprott does not assume any obligation to update or revise.
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Categories
Junior Mining Precious Metals

ROVER METALS | Firm Advancing Gold Exploration in the Northwest Territories

 

Judson Culter the CEO and Director of Rover Metals (TSX.V: ROVR | OTCQB: ROVMF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of the Cabin Lake Property. In this interview Mr. Culter will provide important updates on the Uptown Gold Property, Cabin Lake Project, and Slemon Lake. Rover Metals is a natural resource exploration company specialized in Canadian precious metal resources (specifically gold). In this interview we will discuss the recent accomplishments of Rover Metals. Ranging from IPO and the implementation of a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program.

VIDEO

AUDIO

TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2019/03/10/firm-advancing-gold-exploration-in-the-northwest-territories.html

Firm Advancing Gold Exploration in the Northwest Territories Contributed Opinion

Source: Maurice Jackson for Streetwise Reports  (3/10/19)

Maurice Jackson

Judson Culter, CEO of Rover Metals, speaks with Maurice Jackson of Proven and Probable about historical exploration on his company’s properties, as well as current exploration plans.

Gold exploration
Maurice Jackson: Welcome to Proven and Probable. I’m your host, Maurice Jackson, and joining us for our conversation is Judson Culter, the CEO and director of Rover Metals Corp. (ROVR:TSX.V; ROVMF:OTCQB). Mr. Culter, welcome to the show.
Judson Culter: Thanks for having me, Maurice.
Maurice Jackson: Glad to have you back on the program. We last spoke in January of 2018, and since then Rover Metals has completed its IPO and implemented a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program. But before we begin, Mr. Culter, for first time listeners, who is Rover Metals?
Judson Culter: Rover Metals, we are a precious metal exploration company, specifically gold is our focus currently. We’re co-listed in the United States OTCQB: ROVMF, as well as Canada on the TSX.V ROVR. Our project portfolio is concentrated in and around Yellowknife’s Northwest Territories, one of the most mining friendly jurisdictions in Canada and for North America for that matter. I say that just because that’s where our (Canada’s) diamond mines are. That’s historically where several of our gold mines have been. It’s really the primary employer in the Northwest Territories. Outside of government, mining is it.
Maurice Jackson: Why has Rover Metals received so much interest here of lately?
Judson Culter: I think that’s a two pronged answer. First is just credibility. Going back to 2017 on call with you, Maurice, if one listens to that interview, we talked about how we were going to go public, and how we were going to drill our resources, and how we were going to look to add new resources in the similar area code of Yellowknife.
We’ve successfully accomplished all those tasks. I believe we have strong foundational base in our existing shareholders. We’ve got a lot of credibility with them. We get a lot of word of mouth. I think that goes a long way in a market that can be a little bit over saturated in the junior mining space with which projects or which management teams do you back. I think really that we’ve gotten recognition for that now, which is really helping to drive our current success.

The second prong answer speaks to the projects themselves. Rover has the Cabin Lake Project, which is really what the market is asking for, and that’s why we bought it. When we receive the results from our drilling, we believe we will a high-grade gold historical resource that will contain super high grades that the market wants to see as confirmation that this really could be the next gold mine in the Yellowknife, Northwest Territories.

Not to mention this project itself has all the merits a speculator wants. We have solid infrastructure, the Blue Fish Hydro Dam, roads, all the accessibility and proven area of past producers. The market is beginning to recognize the credibility of the management team and the assets. Also, the awareness that we are near drilling in the not-too-distant future has investors’ attention as well.
Maurice Jackson: Justin, what is the driving thesis for Rover Metals in regards to the Kevin Lake gold project?
Judson Culter: The driving thesis has not changed. It’s the same thesis as in the late 1980s. There’s a project called the Lupin Gold Mine that produced from 1983 to 2003 in the north, which is an iron formation, super high-grade gold. The thought at the time was to go and find another one, and that’s what they thought they had here. This is when Cominco and Freeport McMoRan and then Aber Resources, that’s what they thought they had here. They drove 7,500 meters of at or near-surface iron hosted high-grade gold. The only reason they stopped is because somebody found kimberlites a few years after, and the diamond boom in the Territories began.
This project just kind of sat on the back burner as a result of that. Aber Resources, the owner of the time, of course, went on to find the kimberlites. That’s some historical context on this project and why it’s just now coming back to life.
Maurice Jackson: Talk to us about the business acumen here. When and how was Rover Metals able to acquire the Cabin Lake gold project in such a highly contested and sought out district?
Judson Culter: It wasn’t easy; when we looked at the business case, we figured that with a little bit of just rolling up our sleeves, and getting up there, and meeting the right stakeholders, and just recognizing that this is an area that needs new mines and new projects.
I didn’t think it would be like other areas in British Columbia, for example where BC, trying to get First Nation endorsement can be very difficult. There’s so many competing industries that people can really make a way of life in a jurisdiction like British Columbia, whereas knowing a little bit about the Northwest Territories, mining is a big deal up there. People want to see projects succeed.
When we went into the Cabin Lake project, we knew we had to get a couple of things there to get permits. We knew we had to get our neighbors, Tlicho First Nations, on board. We also did our homework and knew that the Tlicho First Nations had previously worked with Fortune Minerals, as well as Nighthawk Gold. When we got to it, there was a framework in place. There was a government that had been formed.
The Tlicho government and the land use formal plan to work within, for application permits, and applications. So, once we got to it, it ended up only being four months to get it permitted. I think it seemed to keep getting easier for us, and it ended up being a decision that looks like it was the right one to make.
Maurice Jackson: Regarding mineral rights in your project portfolio, are there any reversionary interests?
Judson Culter: There’s a 1.5% NSR that we’ve got viable down to a half percentage point for CA$250,000 per quarter percentage.
Maurice Jackson: And does Rover Metals own the mineral rights outright 100%?
Judson Culter: That’s correct. Yes, not just at Cabin Lake, but at the Cabin Lake group of projects. The claims themselves are 10 kilometers apart; so there’s three of them. For the entire group of projects, yes, we have 100% mineral right interest.
Maurice Jackson: Let’s fast forward to 2018 and discuss your exploration program. What were the results from that program and how has that improved the confidence in the gold project?
Judson Culter: It helped us to better track the iron information. So what we did was we spent the six months from March, when we acquired the project, into October, really to digitize all the historical records. At the time in the 1980s, that was meticulously kept, and it was handwritten. We digitize seven banker boxes of data, as well as three map boxes. Then, we put that in a GPS, and tag the colors and everything else.
Then what we wanted to do to follow on with that data was to run a current, modern-day geophysical program. There were a lot of options to us to do it, but in a really economical manner, but also to do it in a very detailed type formation using a drone. Because the mineralization occurs at or near surface, as well as the iron information itself being at or near surface, it really showed up well on the magnetic survey that we flew over the property. So by interlaying the drill results, as well as the mag survey, our geologist was able to get a better interpretation of the iron formation throughout the project. Really, that really set the stage for where we are going to put the drill when we get to drilling this year in 2019.
Beyond just the iron information, what we also realized about the project is the outcropping on either side is quartz. Historically, the quartz had never been tested for mineralization. So we also did a geochemistry program in October. What that showed us is that the PPM and PPB reading of gold from the quartz outcrop area suggest that it’s also very likely to be a host for gold on this project. It’s never been tested historically. That’s the excitement of 2018 and what’s led into the 2019 drill program, which was always trying to be between March and the end of April. We’re still trying to hold on to that deadline.
We’ve got the collars is ready to go. Right now, we believe what we need to do to start drilling is conduct a small financing that we’ll probably release in the coming week or two here.
Maurice Jackson: So to review the value proposition we had before. This is potentially an open-pitable, early-stage brownfield exploration gold project with historical high-grade resource next to a new cobalt-gold mine, is that correct?
Judson Culter: Yes, and that’s one thing I didn’t touch on is the actual historical resource itself. That’s 85,000 ounces unconfirmed in terms of what our current standards allow us to document as a historical resource. What we’re allowed to document in press releases and everything else is 50,000 ounces of roughly 10 to 12 grams gold per ton. The rest of that 35,000 ounces was never signed off by a Qualified Person, but it is in the NORMIN database in the Northwest Territories. It’s in the areas of the Andrew zone, which we’ve documented. Rover will do the work we need to do under 43-101 standards to take that other 35,000 ounces and get it compliant.
From our side internally, we see it as an 85,000 ounce of resource of 12 grams per ton gold on average. When we talk about it publicly, we have to say, 50,000 from a historical resource perspective, but you’re absolutely right that we’re 20 kilometers away from what’s looking to be Canada’s first cobalt mine. The reason I say that is this project’s been 20 years in the making; it’s at the feasibility stage. I believe they’re really just looking to raise the capital to get to work. It’s an open-pitable cobalt mine. The good news is it’s actually a cobalt gold bismuth. So there is a gold processor that’s going to be built 20 kilometers from us. What better news can you possibly have when you’re developing an at-surface resource?
Maurice Jackson: The location in of itself makes the opportunity quite interesting, but to have open pit to me is icing on the cake. Is the goal to sell the project or develop into a commercial scale mine?
Judson Culter: Definitely the goal is to sell it within the next three years, and so I want to put $10 million in the ground, and let’s get this wrapped up and sold. End of story.
Maurice Jackson: What can you share with us regarding the infrastructure?
Judson Culter: So what you see in Yellowknife right now is what’s going to be coming in the pipeline in the next two to three years in the Pine Point Zinc mine is going back into production and that’s Osisko. Part of that is twining the costs in Taltson Hydro Dam and bringing that into Yellowknife itself, as well as Hay River. There’s going to be federal funding allocated, as well as territorial, to do an environmental study that should be announced through fairly short order this year.
After there is a federally funded environmental study to evaluate the twinning of the Taltson Hydro Dam, a successful outcome will lead into a hydro power upgrade to Yellowknife. When Yellowknife is upgraded, that will free up excess hydro power at the Snare and Strutt Lake hydro dams, located approximately 5km away from Camp Lake, one of our claims that’s part of the Cabin Lake group. That power becomes excess power. All of a sudden that frees up for the future the viability of really selling the project because now you’ve got excess power sitting right there, five kilometers away. How good is that?
Maurice Jackson: Switching gears. Rover Metals’ board of directors and advisors consists of the following people:

Maurice Jackson: Bios for the management time are below:

Maurice Jackson: Let’s discuss some numbers. Please share your capital structure.
Judson Culter: We’ve got 47 million shares out today. That’s our issued and outstanding common shares. There are warrants out there. We have 10 million warrants at $0.20 cents, and 10 million warrants at $0.25 cents.
Maurice Jackson: How much cash and cash equivalents do you have?
Judson Culter: Treasury is sitting today around CA$450,000. Then, there’s been some prepayments for upcoming work commitments regarding our exploration plans for this year, as well as I mentioned, we’re doing a lot of our growth in terms of our marketing and our shareholder base in the United States. I think our prepaid balance, if you were to look at that today, should be around CA$200,000, just in terms of for events, as well as I mentioned, exploration planning. If you add that back to our cash position, we’re around CA$650,000 in current assets.
Maurice Jackson: What is your burn rate?
Judson Culter: Our burn rate’s about CA$30,000 a month, and that just includes all in. We purposely don’t carry an office in this market. We’re a bootstrap company. We have home offices, and then we’re on the road a lot. We’ve got an exploration office that is free from our exploration partner, Aurora Geosciences. That’s really where a lot of the hard work gets done. Then, there’s just no corporate office. I don’t feel the need for that, so that helps.
Maurice Jackson: How much debt do you have?
Judson Culter: We have some trade payables of, I think it’s roughly CA$40,000 that we’re going to settle in shares. Outside of that, we’ve got CA$25,000 in payables on top of that, that we’re going to pay in cash. That’s just some exploration legacy from last year.
Maurice Jackson: Who is financing the project, and what is their level of commitment?
Judson Culter: Just sophisticated mining investors. It’s been high net worth, accredited investors to this point. That will continue until we become a $10 million market cap company plus, because we’re just still not able to access institutional funds, and that’s fine. If Rover does everything that we hope to accomplish in the next drilling phase, which we hope is in the next 60 to 90 day window here, we should be a $10 million market cap plus company; and well on our way to institutional money.
Maurice Jackson: Who are the major shareholders?
Judson Culter: I’m a major shareholder. I’ve been seeding Rover not just with time, but my own money; since really inception in 2014. Tookie Angus, who is an advisor, is currently our third largest shareholder. Then, it really starts to break down to smaller tranches, but there is a notable name on the list: Ashwath Mehra, the chairman of GT Gold; he’s a relatively large shareholder.
Management, including Ron Woo. Ron’s also seeded this company. I think Ron’s probably fourth largest shareholder. Keith Minty’s a large shareholder; 38% of our outstanding shares are owned by insiders, management, board. That’s a good thing because that means our shares are tied up for three years.
Maurice Jackson: Judson, based on the data available, what type of value proposition do we have in comparing?
Judson Culter: Well, the market price, let’s just say, I think it should be $8.5 million, just on what we set out today. That’s my personal opinion. I think later value that, that’s just the reality of reserve stocks in North America. We’re going to do what we need to do to take that historical resource and bring it up to current standards, as well as to just extend where they stopped drilling, and just show them this really is a multimillion ounce potential asset.
I think we can get there with the drill program that we’re planning. We’re planning roughly a thousand meter program. I think the value proposition is we’re in a $3.5 million market cap today. I think we’re going to take it to $10 to 15 million in the next six months. Hold me to that.
Maurice Jackson: I certainly will, sir. Multi-layered question here: what is the next unanswered question for Rover Metals? When can we expect the response? How much will the response cost? What determines success?
Judson Culter: That’s going to be our Q1 or Q2 exploration drill campaign. I was going to caveat that, that is subject to the future success of our financing effort (click here), which we hope to announce in roughly two weeks’ time.
That will lead into confirmation of the historical high-grade gold results, such as the open-pit economics, expand upon the known mineralization in the iron formation, as well as to prove up a larger area play and this is more Q2/Q3 work, for the Slemon Lake, and Camp Lake claims, which are located 10 kilometers northwest from Cabin Lake, and we’ll fly that with an aerial B10 survey. What that will show is that the drilling we’ve done at Cabin Lake in the iron formation really just, those other two claims, or districts, an extension of the same geology, which everything that we’ve read historically shows us it is.
Maurice Jackson: Mr. Culter, please share the contact details for Rover Metals.

Judson Culter: Please visit our website www.RoverMetals.com. On there, you’ll find our social media links, which are LinkedIn, Twitter, our Facebook page and CEO.ca.
Our social media channels really have daily content. We’re press releasing every couple of weeks, but a lot of our investors like really the daily updates on what’s going on in the Northwest Territory. That’s the best place to stay tuned.
You can also submit to our mailing list. We typically will do an email update every two weeks as well. If you go to the bottom of the homepage on the website, and just submit your email, that subscribes you to our email mailing list.
Maurice Jackson: And last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Judson Culter of Rover Metals, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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Precious Metals

MILES FRANKLIN One Begins to Wonder . . . Will It Ever End?

David’s Commentary:
It should come as no surprise that gold and its sibling, silver, have been pulling back recently. I have written several articles recently that built the case that for gold to move up two things need to happen. The stock market has to fall and the dollar has to fall. For a while, they both did, in unison, and gold and silver moved up nicely. But recently both the stock market and the dollar have been “goosed” up a bit and the result is some profit taking and a pull back for our favorite precious metals. Should we be concerned? I would say yes, IF things have fundamentally changed, but they have NOT. If the stock market’s strength is based primarily on a new trade deal with China, whose economy is a basket case, I expect this will fall apart. If you combine our slowing economy with the problems China is facing, there will be little to support further stock market growth. My feelings that the stock market and the dollar will turn down shortly remain intact. And when that happens, gold and silver will get back on track. You can pick them up now, at a discount, or not. Your call.
Kyle Bass, founder of Hayman Capital Management, recently spoke with Real Vision to reiterate his concerns about the Chinese economy.
Kyle Bass on China’s dwindling FX reserves:
“We think the number is closer to $2 trillion, instead of $3.2 trillion, which is dangerously below adequate levels. The broad measure of credit in China’s financial system is $48 trillion worth of RMB (Chinese Yuan). They only have $2 trillion of reserves… In their last banking crisis, which was between 1998 and 2002, the loss given defaults were 80% of loans that defaulted and at one point in time… 35% of their entire system was non-paying.”
“What brings this to a head is the current account. When the current account goes negative and the reserve balance is going the other way (going negative), the rubber meets the road there. As long as that balance is increasing annual along with GDP in RMB terms, they can keep going… Now their fiscal balance is… -9.5%. Their current account balance goes negative, and its a secular negativity, then they have more money leaving then coming in and they have to desperately borrow and now they’re changing their laws. They’re saying ‘You know what? Now Westerners can own more than half of our banks. Not a problem…’ Without Western capital flowing into China, China can’t hold this all together… (Chinese President Xi) has made the West think somehow his economic model is superior to that of Western capitalism and it’s all a facade. The whole thing is a mirage. The whole thing is made up with a printing press, keeping a closed capital account, and hoping the world doesn’t notice it…”
This 10:11 minute video clip is a short excerpt from a Real Vision interview. I found it interesting — and although Kyle is 100 percent correct in what he says, he is talking his book, as he’s massively short their equity market, the yuan, or both. It was posted on the soundingline.com Internet site on Monday — and I thank Brad Robertson for sending it along. Another link to it is here.
And then this…
Back in 2017, we explained why the “fate of the world economy is in the hands of China’s housing bubble.” The answer was simple: for the Chinese population, and growing middle class, to keep spending vibrant and borrowing elevated, it had to feel comfortable and confident that its wealth would keep rising. However, unlike the U.S. where the stock market is the ultimate barometer of the confidence boosting “wealth effect”, in China it has always been about housing as three quarters of Chinese household assets are parked in real estate, compared to only 28% in the U.S., with the remainder invested in financial assets.
“Property accounts for roughly 70 per cent of urban Chinese families’ total assets – a home is both wealth and status. People don’t want prices to increase too fast, but they don’t want them to fall too quickly either,” said Shao Yu, chief economist at Oriental Securities. “People are so used to rising prices that it never occurred to them that they can fall too. We shouldn’t add to this illusion,” Shao added, echoing Ben Bernanke circa 2005.
The bottom line is that just like true price discovery for U.S. capital markets is prohibited (and sees Fed intervention any time there is an even modest, 10-20% drop in asset prices) or else the risk of an all out panic is all too real, in China true price discovery is also not permitted, however when it comes to the country’s all important, and wealth effect boosting, real estate.
Which is a problem, because whereas China suddenly appears to be suffering from all the conventional signs of deflation in the auto retail sector, where as we noted previously, neither lower prices nor easier loans have managed to put a dent the ongoing demand plunge…
… the same ominous price cuts – which are clearly meant to boost flagging demand — are starting to emerge in China’s housing sector.
Case in point, according to China’s Paper, Hui Ka Yan, the Chairman of Evergrande, China’s biggest property developer, and China’s second richest person announced it must ramp up home sales and to do that it would sell all its properties at a 10% discount after its home sales tumbled in January amid a cooling market.
Now that Evergrande is rushing to slash prices, it appears that runaway home prices are no longer a concern for Beijing, and in fact, a far greater concern is how Beijing may intervene to prevent what could soon be a price plunge spiral; many have already speculated that Beijing will have no choice but to bar Evergrande’s sales. If it doesn’t, or if homeowners have already figured out that their home prices are floating in the sky on a bubbly foundation that has now burst, the knock on effect could be devastating as instead of an asset, China’s most popular and aspirational “wealth effect” product could turn into a liability overnight.
If that happens, no amount of intervention by Beijing could stop the avalanche of selling that would ensue, not to mention the deflationary shock wave that a hard landing – i.e. crash – in China’s housing market would launch across the entire world…
No surprises here. This long but worthwhile chart-filled news story was posted on theZero Hedge website at 6:56 p.m. EST yesterday evening — and another link to it ishere. Another ZH article about China showed up on their website at 10:35 p.m. last night — and it’s headlined “Deflationary Red Alert: Chinese Car Dealers Are Slashing Prices, and It’s Not Helping“.
China’s auto industry remains in collapse but what is even more concerning is that new incentives and lower rates are failing to bring rural buyers into showrooms.
As usual, Ed Steer sheds light on the daily manipulation of all the market.
It was the second day in a row where the powers-that-be were very active in the Dow — and the precious metals. The Dow was turned higher around 1:10 p.m. EST — and the precious metals ran into more of Ted’s “night moves” in the thinly-traded afternoon trading session in the Far East. It was all down hill for them from there going into the afternoon gold fix in London…with the exception being palladium, where it ran into ‘something’ a few minutes before noon in New York.
Quoting Bill King from his King Report for today…”stocks tanked on Monday despite the WSJ story that many operators believe was another leak from Team Mnuchin. Perhaps, enough is enough with the U.S.-China trade deal hope and hype stories. They not only appear regularly, but seem to be released quite often on Sunday night near the time when the equity futures begin trading. Please note that over the past few weeks, when stocks are down sharply in the morning, someone appeared at midday or the early afternoon and forced ESHs higher.”
And as reader Mark Barooshian said in an e-mail to me yesterday…”Is this orchestrated sell-off over in the metals?… Why is it always baby steps up — and freight train on the way down?” The answer to the first question is…I don’t know, nor does anyone else. The answer to the second is that it’s what ‘da boyz’ do to maximize their profits…trapping as many Managed Money longs on the losing side as possible.
“There are no markets anymore…only interventions.”
David’s Commentary:
And here are reasons why I believe the recent dollar strength is about to come to an end. A little political pressure goes a long way.
President Donald Trump said Saturday that the U.S. dollar is too strong and took a swipe at Federal Reserve Chairman Jerome Powell as someone who “likes raising interest rates.”
The dollar was quoted lower against the euro and the yen in early Asia-Pacific trading hours on Monday after Trump’s comments.
The U.S. economy is doing well despite the actions of the central bank, Trump said during a wide-ranging speech at the Conservative Political Action Conference in National Harbor, Maryland.
“I want a strong dollar but I want a dollar that does great for our country, not a dollar that’s so strong that it makes it prohibitive for us to do business with other nations and take their business,” Trump said Saturday.
He didn’t mention Powell by name, but referenced “a gentleman that likes raising interest rates in the Fed, we have a gentleman that loves quantitative tightening in the Fed, we have a gentleman that likes a very strong dollar in the Fed.”
This Bloomberg story was posted on their Internet site on Saturday morning Pacific Standard Time — and updated about twenty-six hours later. I found it embedded in a GATA dispatch — and another link to it is here.
And this too… Dollar death by a thousand cuts.
BRICS Is Creating A Common Payment System
The BRICS states (Brazil, Russia, India, China and South Africa) are working on a common payment system BRICS Pay.
The Russian Direct Investment Fund, which coordinates Moscow’s working group on financial services of the BRICS Business Council, has shared the news with Izvestia.
A probable outcome of the project is creation of an online wallet that would combine the payment systems of all BRICS members.
The common wallet will work in the same way as the existing payment services such as Apple Pay or Samsung Pay. A cloud platform created specifically for this project will connect the national payment systems of BRICS countries.
Payment itself is expected to be made via a mobile application regardless of the national currency of the buyer. Countries without membership in BRICS will also be able to use the platform. The pilot project kicks off in South Africa in early April.
David’s Commentary:
This year is the first time in more than 50 years that Susan and I didn’t leave Minneapolis for at least a week or two over the winter. Our 15-year old dog can no longer travel, does not do well when left at a kennel and is way too much of a handful for our kids to manage. We feel a deep responsibility to her and it has marooned us in this unbelievable winter of snow and cold. February logged the most snow on record. Ever! We got over three feet in 28 days. And we are supposed to get more snow starting at the end of this week – five days in a row is possible. Our handyman is coming by tomorrow to shovel snow off of our flat roof. It is nearly two feet high now, before the new snow arrives. In addition to all that snow, it was accompanied by record cold, and countless days below zero. We can survive it, but what happens is that it forces you stay indoors most of the time.
I have to keep reminding myself that warmer weather is just around the corner – and so are higher prices for gold and silver. One really needs to take a longer view of both the weather and precious metals in order to survive the nasties that both can offer up.
I would like to believe that this recent pullback in gold and silver is the final “managed correction” before the big takeoff. The fundamentals that were so kind to the metals have not changed. As usual, it’s the buying and selling of future contracts by the big banks and hedge funds on Comex that move the markets in the short-term. If nothing fundamental has changed, then, like the lousy February in Minneapolis, things will soon get back to normal.
All of this harsh weather got me to thinking. How did the Indians endure Minnesota’s extreme weather? According to a recent article I read, meteorological studies suggest that from 1600 to 1850 the climate generally was colder and wetter than now. How did the half a dozen tribes that populated this area survive? They lived in houses made out of birch bark, which never molds. They would build a pit in the middle of the floor with rocks buried underneath the floor. When the rocks were heated, it would radiate the warmth throughout the house.
There were variations of houses on the reservations. The typical lodge style dwelling would be constructed with trees natural to their regions. Sharpened logs were thrust into the ground and then bent and tied similar to an upside-down basket. The framework was covered with bark, and animal skins were used to cover the door and chimney hole.
Pole wigwams in the form of teepees were also constructed. People greased themselves in oil and animal fat to protect against the sun and cold.
Native people also prepared for harsh storms by forecasting them. My wife uses the six o’clock weather report on Fox News. But for the Indians, if the wind brought clouds from the north, it meant a blizzard. Woodpeckers sharing a tree or nest meant a harsh winter was coming.
I have trouble surviving a 100-yard trek up our driveway every morning to get the paper – even dressed to the hilt in a winter parka and boots and gloves. It’s the mental part of surviving the winter that is the most difficult, just like it’s the mental part of surviving the constant take down of gold and silver. One begins to wonder, will it ever end? Yes, sunny days and warm weather will be here in a month and the gold and silver prices will rebound shortly as well. But when you are freezing your ass off, or wake up to see that gold is down $20 it is depressing.
As it so happens, I will have some extra money coming my way in a week. Like you, I ask myself, what should I do with it? That is a question that has different answers, depending on one’s age, finances and portfolio. In my case, I know this much – even though I have a large precious metals portfolio, I would still rather add to it, especially after a pull back like this one, than put it into a stretched-to-the-hilt stock market. Cash is good, but how much can you keep in cash? I think I’ll do the silver, gold and cash thing. I’ll spread it around a bit.
The five years Susan and I spent in Miami in the winter was great, at least weather wise, and I fully expect to bask in the sun of a precious metals bull market soon too. Everything cycles and the metals up-cycle is close at hand. All it will take is a dollar pullback and/or a stock market plunge, and I expect that both are coming. I wish it were here now – that would make this uncommonly harsh winter much easier to take.
My car in front of a snowdrift!
About Miles Franklin
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DNI METALS – Update

TORONTO, ON / ACCESSWIRE / March 6, 2019 / DNI Metals Inc. (DNI: CSE; DNMKF: OTC) (“DNI” or the “Company”) is pleased to provide the following update:

Environmental Licenses

The Public consultation meetings for DNI’s Vohitsara and Marofody projects were held on February 22nd and 23rd.

DNI and the Office National pour l’Environnement Madagascar, (“ONE”), completed two days of technical reviews at Vohitsara and Marofody properties on December 6 and 7.

As per DNI’s press releases on November 8 and 20, 2018 the ONE must complete two site visits, a Technical review, and a Public consultation, both now have been completed.

The ONE group comprised of a panel of four people, from the following government offices;

  1. ONE coordinator
  2. Ministry of Mines
  3. Ministry of Water
  4. Bureau des Directions Régionales de la Population (DRPPSPF)

Additional government officials that attended the meetings.

  1. L’Adjoint au Chef District
  2. Mayor of the Commune
  3. Two Counsellors
  4. The President’s of both Marofody and Vohitsara

As part of the technical review, the ONE sent an official letter to DNI, asking for clarity on certain items. DNI has responded to all the technical questions.

DNI has entered into property purchase negotiations with selected Vohitsara land stakeholders required for mine development. Ninety-Nine percent of the people in the area want to see DNI develop a mine.

It was also decided at the public consultation meetings, that a committee would be formed to order to set the land lease prices, the compensation for crops and compensation for any residences that need to be moved. The Committee will be made up of representatives from the local villages, DNI, and government officials from the ministries of Land and agriculture.

Resource Estimate

Micon completed a site visit Jan. 28th through February 2nd, 2019.

During the site visit, it was realized that channel samples taken from trench 3, located approximately 500 metres north-east of the most northernly drilled holes, had never been sent to the laboratory for testing. From February 5th through the 8th, 83 samples from trench 3, and an additional 218 samples that had been misplaced from road cuttings and the drilling were split, and prepped, under the supervision of DNI’s consulting geologist and qualified person (“QP”), Jannie Leeuwner. Dan Weir, DNI’s CEO, and Raymond Borida, DNI’s CSR consultant, prepared all the documents for exportation. The samples were shipped to AGAT Laboratories in Mississauga, Ontario, Canada for assaying on February the 18th. AGAT has completed the testing on a rush basis, and the results are in the process of being compiled, by Jannie and Micon.

This additional data will be used in the Resource estimation.

Surrender of part of Mining Claim in Alberta

A new Biodiversity Stewardship Area (“BSA”)- Wildland Provincial Park, is being created in Alberta. DNI received $500,000 in compensation for the surrendering of part of permit no 930806412. Please see the link below for information on the new park.

https://www.albertaparks.ca/albertaparksca/about-us/public-consultations/archives/bsa-wildland-provincial-park/

DNI owns 5 permits in Alberta, numbers 930806406, 930806407, 930806408, 930806410, and 930806412. Information on the DNI’s Alberta permits can be found at:

https://www.energy.alberta.ca/AU/Services/Pages/InteractiveMaps.aspx

Sale of Utah Gold Royalty

DNI has sold its Utah gold royalty for U$50,000, the money will be wired to DNI shortly.

DNI owned a 0.05% NSR on certain mining claims in Utah, USA.

DNI – CSE

DMNKF – OTC

Issued: 122,398,403

For further information, contact:

DNI Metals Inc. – Dan Weir, CEO 416-595-1195

DanWeir@dnimetals.com

Also visit www.dnimetals.com

Forward-looking Statements

This press release contains forward-looking statements, including statements that relate to, among other things, the following: (i) the geological characteristics of the projects; (ii) the potential to discover additional mineralization and to extend the area of mineralization; (iii) the potential to raise additional financing; and (iv) the potential to expand and upgrade the resource estimate of the projects. Forward-looking information is subject to the risks, uncertainties and other important factors that could cause the Company’s actual performance to differ materially from that expressed in or implied by such statements. Such factors include, but are not limited to volatility and sensitivity to market metal prices, impact of change in foreign exchange rates, interest rates, imprecision in resource estimates, imprecision in opinions on geology, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, changes in government regulations and policies, including laws and policies; and failure to obtain necessary permits and approvals from government authorities, and other development and operating risks, and can generally be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “possible”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective”, “hope” and “continue” (or the negative thereof) and words and expressions of similar import. Although DNI believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company’s most recent annual and interim Management’s Discussion and Analysis under “Risk and Uncertainties” as well as in other public disclosure documents filed with Canadian securities regulatory authorities. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: DNI Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/538192/DNI-Metals–Update