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EMX ROYALTY Options the Røstvangen and Vakkerlien Properties in Norway to Playfair Mining

March 4, 2019
Vancouver, British Columbia, March 4, 2019 (TSX Venture: EMX; NYSE American: EMX) – EMX Royalty Corporation (the “Company” or “EMX”) is pleased to announce the execution of an exploration and option agreement (the “Agreement”) for the Røstvangen volcanogenic massive sulfide (“VMS”) property and Vakkerlien nickel-copper-cobalt property in Norway (collectively the “Project”) with Playfair Mining Ltd. (“Playfair”) (TSX Venture: PLY). The Agreement provides EMX with immediate share equity in Playfair, and upon Playfair’s completion of the option terms and other consideration, a 9.9% interest in Playfair, a 3% net smelter return (“NSR”) royalty on the Project, and advance royalty payments.
The Røstvangen property hosts a >30 kilometer long trend of geophysical anomalies and VMS-type mineralization, as well as the Kvikne copper deposits, that occur in one of Norway’s oldest mining districts. On the directly adjoining Vakkerlien property, nickel mineralization was discovered in the 1870s, and was the subject of drill campaigns from the 1970s through the early 2000s that led to the discovery of nickel-copper-cobalt mineralization.
Commercial Terms Overview. Pursuant to the Agreement, Playfair can earn 100% interest in the Project by the issuance of shares to EMX and performance of work during the one-year option period, as described below (all dollar amounts in CDN):

  • On signing the Agreement, subject to TSX Venture Exchange acceptance, Playfair will issue to EMX 3 million common shares of Playfair stock.
  • As a condition to the exercise of the option, Playfair must complete work commitments of at least $250,000 on the Project, and must raise such capital by May 15, 2019.

Upon exercise of the option, Playfair will issue to EMX an additional 3 million shares of Playfair stock, and EMX will receive a 3% NSR royalty on the properties comprising the Project. Within six years of the execution of the Agreement, Playfair may purchase 1% of the NSR royalty in 0.5% increments for a total of $3,000,000, leaving EMX with a 2.0% NSR royalty. EMX will also receive annual advance royalty (“AAR”) payments of $30,000 commencing on the second anniversary of the option exercise, with the AAR payments increasing by $5,000 per year until reaching $80,000 per year. AARs may be paid in cash or Playfair shares, subject to certain conditions.
After the exercise of the option, further conditions of the Agreement include:

  • Playfair will use commercially reasonable efforts to raise an additional $2,750,000 for advancement of the Project and other activities, and will drill at least 2,000 meters on the Project before the third anniversary of the Agreement effective date.
  • Within two years of the execution date, Playfair will issue to EMX that number of common shares of Playfair that will increase EMX’s equity ownership in Playfair to 9.9%. Thereafter, Playfair will have the continuing obligation to issue additional shares of Playfair to EMX to maintain its 9.9% interest in Playfair, at no additional cost to EMX, until Playfair has raised a cumulative $3,000,000 in equity; thereafter EMX will have the right to participate pro-rata in future financings at its own cost to maintain its 9.9% interest in Playfair.
  • Playfair will issue the equivalent of $250,000 in common shares of Playfair to EMX upon the earlier of:
    • the filing of a Preliminary Economic Assessment technical report,
    • the filing of an initial Resource Estimate technical report,
    • the fifth anniversary of the option exercise date.
  • The issuance of additional shares of Playfair to EMX will be limited to a maximum 9.9% equity ownership in Playfair by EMX.

The issuance of Playfair shares to EMX as set forth in the Agreement is subject to receipt of TSX Venture Exchange approval.
Overview of Project. The Røstvangen property is located approximately 300 kilometers north of Oslo, and hosts the “Kvikne Copper Works”, one of Norway’s oldest base metal mining districts. Copper mineralization was discovered at Kvikne in 1629, followed by 150 years of mineral production. The mineralization at Kvikne is VMS-type, with enrichments of copper and gold. The Kvikne deposits are positioned along a >30 kilometer long trend of geophysical anomalies and VMS-type mineral occurrences that form multiple parallel belts across the property. These belts have seen little modern exploration work, and only a few historic drill holes, despite the widespread VMS occurrences and historic mining activities.
The Vakkerlien nickel-copper-cobalt property directly adjoins the Røstvangen exploration licenses. Nickel was discovered on the property in the 1870s, when small scale mining was conducted in the district. Further exploration by Falconbridge Limited and Blackstone Ventures Inc. from 1975 through the early 2000s led to the drilling and discovery of nickel-copper-cobalt mineralization to the southeast of the historic workings. The mineralization is associated with, and hosted by, a mid-Proterozoic gabbroic intrusive complex, and is interpreted to be a magmatic sulfide deposit type. Gold and platinum group element (“PGE”) content remains poorly understood and in need of further assessment.
EMX and Playfair are planning to commence exploration programs in the upcoming spring and summer months, which will include property-scale sampling, reconnaissance mapping and geophysical surveys. The intent of the programs is to rapidly identify additional exploration targets for drill testing.
Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments. Please see www.EMXroyalty.com for more information.

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For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”  and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein.  Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the nine month period that ended on September 30, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year that ended on December 31, 2017, actual events may differ materially from current expectations.  More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

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BOB MORIARTY on Geopolitics, Resource Companies and His New Book


In this action packed interview, Bob Moriarty the founder of 321gold and 321energy.com sits down with Maurice Jackson of Proven and Probable to discuss current events, companies that have your attention, and to discuss Amazon’s best-selling book right now, under Commodities Trading, which happens to be your book aptly entitled: “Basic Investing In Resource Stocks, the Idiot’s Guide”.

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https://soundcloud.com/proven-and-probable/bob-feb-2019
 

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Original Source: https://www.streetwisereports.com/article/2019/03/03/bob-moriarty-on-geopolitics-resource-companies-and-his-new-book.html

Bob Moriarty on Geopolitics, Resource Companies and His New Book 
Contributed Opinion

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

Bob MoriartyMaurice JacksonBob Moriarty of 321 Gold sits down with Maurice Jackson of Proven and Probable and sounds off about the state of the world, resource companies he is paying attention to, and what readers will find in his new book.

World map
Maurice Jackson: Welcome to Proven and Probable, I’m your host Maurice Jackson. Joining us for a conversation is Bob Moriarty, the founder of 321gold and 321energy.com.
We brought you on today to discuss current events, companies that have your attention and to discuss Amazon’s best-selling book right now under commodities trading, which happens to be your book aptly entitled “Basic Investing in Resource Stocks: The Idiot’s Guide.” Bob, you shared with me on a number of occasions to be aware of political and geopolitical events as they have a direct influence on our lives and portfolio. Let’s begin with current events and there’s a number of them unfolding right before us. Beginning in the U.S., what has your attention and why?
Bob Moriarty: I don’t know a good term to use, but it’s almost a feeling of a sick desire to watch something obscene, the Cohen hearings are certainly interesting. It’s a measure of how far over the cliff the country has gone. It’s obscene. Why you would get a guy who is a felon and who’s lied to Congress, who has an agenda to testify in Congress is just amazing! We know the guy is a liar. It’s all political theater. Sadly, neither party, no one is trying to improve the country. They’re just trying to get even with the guys on the other side of the aisle. It’s sick okay, but it’s interesting to watch because it’s so sick.
Maurice Jackson: In previous interviews you referenced the Deep State/Shadow Government. For someone new to the conversation, who is the Deep State and what is their significance?
Bob Moriarty: I’m not sure that deep state is a good term. It’s really the Congressional Military Industrial Complex that President Eisenhower warned us about in 1961 in his farewell address. In his written copy, President Eisenhower called it the Congressional Military Industrial Complex. His political advisor said, “You can’t do that. You can’t criticize Congress, so remove that. Just call it the Military Industrial Complex.”
There exists within the United States a small subset whose economic welfare is based on constant war. We no longer fight wars to achieve peace. We fight wars to achieve war and it’s a transfer of wealth from the taxpayers, the United States to the Congressional Military Industrial Complex. Wars will destroy, actually it has destroyed the United States already.
The United States is bankrupt, it’s functionally bankrupt. There is nothing we can do about it. There is no savior that’s going to come along. There are no solutions, we’re bankrupt. The standard of living of most Americans is going to decline a lot more than it already has.
Maurice Jackson: Just for the record, is it the Military Industrial Complex or the Democratic Party, which one is it that really wants President Trump out and why?
Bob Moriarty: Both the Deep State and the Democrats, but only because they wanted Hillary Clinton in. She was supported by the Deep State. A couple of months ago I was writing and talking about there being a coup d’etat in the United States. Then Andrew McCabe came actually went on 60 Minutes and he admitted it. I mean this is bizarre. If you have a coup d’etat in any country in the world, the legal system should arrest these guys, give them fair trials and shoot them. We don’t do that. We admit, “Oh yeah, we attempted a coup d’etat, the Department of Justice and the NSA and the CIA and the FBI were all trying to overthrow the democratically elected president of the United States,” but who cares?
Maurice Jackson: Bob, I want to go back to my previous question, what will be the purpose or what is the ultimate intent? If they get President Trump out, then what?
Bob Moriarty: Well, see, that’s the problem. We talk about defeating the ISIS in Syria or we talk about regime change in Iran or regime change in Syria or regime change in Afghanistan or regime change in Iraq. We never have a plan B. We never have anything that we actually intend to do. The journey has become the destination and that is perpetual war.
Maurice Jackson: Let me ask you this here, what is Bob Moriarty’s assessment of President Trump?
Bob Moriarty: I think the man’s an idiot. You want to beat around the bush, he’s a blithering idiot. He’s a narcissist. He’s knowledge of things economic or historical are absolutely obscene. He’s most certainly a criminal, but when you say that you also have to say, well, his opponent was Hillary Clinton. If she had been elected president, there would have been four versions of air force one, three of them just to carry her baggage around.
Maurice Jackson: Therefore, in some regards the United States would have the same president in Trump or Clinton. Let’s expand the narrative to geopolitics here. Things are really heating up between India and Pakistan. What’s going on there?
Bob Moriarty: Let me back track a little bit. I think we’ve discussed the worldwide revolution before, but the population of every country on earth is upset because the power and the money is being transmitted from the 99% to the 1%. Everybody is upset, the Yellow Vest and Israel and Canada and Brussels and Spain and I’m certain that’s true in Pakistan as well. There is an area of disputed territory between Pakistan and India that’s been in dispute since 1948. There are people, there are terrorists, India calls them terrorists, but they’re supported by Pakistan who set off a bomb and killed 40 Indian policemen, military. India was naturally upset.
When you’re dealing with two parties who are equipped with nuclear weapons, you want to avoid that kind of stuff. Because one of the options is everybody keeps being stupid and you end up lobbying nuclear weapons at each other. I’m not going to say I’m predicting it, I don’t know what the possibility is. I know it’s a very dangerous time and I wish there was a way of sorting it out that made sense. Unfortunately, I mean the only sane political leader in the world today I think is Putin.
Maurice Jackson: Speaking of Putin, I want to address the situation with Russian, Ukraine as well. Before we do that, let’s move west and go and discuss the situation between the U.S. and Iran, what’s going on there?
Bob Moriarty: Well, here’s what’s funny. Israel has been advocating for a war against Iran since 1982. It’s in writing. They’ve said it many, many times. It has nothing to do with Iran and everything to do with Israel. Israel has convinced the United States to fight their wars for them. There is no Iranian nuclear weapons program period. It stopped years ago, all 17 U.S. intelligence agencies admitted and there is no nuclear weapons program period, end of story. Everything that has been said about Iran is something that has been made up by Benjamin Netanyahu and the Mossad. They’re trying to convince the Americans to go to war.
Now since Donald Trump was bought and paid for by Sheldon Adelson, he sold his soul for about $30 or $35 million in the presidential campaign. Benjamin Netanyahu through Sheldon Adelson literally tells the President of the United States what to do. I’m naturally against that, however, if Hillary Clinton had been elected she would have done the same thing. We need to stop fighting wars for Israel. I am not a pacifist. I am the opposite of a pacifist. I am a warrior and I fought in war and I know all about war because I’ve been there. I would defend my country and my family and my state in a minute against a true enemy.
We go out and create the straw enemies who are not the enemies of us on behalf of Israel. Then we attack them and we let a bunch of our kids get killed. We pay for the war and it’s bankrupted the United States. The United States can end up just like French empire, the Spanish empire, the Russian empire, the British empire, it’s going to bankrupt itself. The standard of living of Americans are going to go down substantially, fighting wars for a tiny meaningless country in the Middle East.
Maurice Jackson: You know what you say sometimes I know that others may disagree with you and say, “That’s a little extreme,” but the reality is, you’ve stated empirical evidence. Wars bankrupt nations and then they also devalue their currency and history does repeat itself. The United States currently is on that trajectory. Let’s move north here. You referenced Russia earlier, there isn’t that much news coming out from Russia and Ukraine. What’s the situation like there?
Bob Moriarty: Well, actually there is and again that’s a situation where the neocons who are under the control of Benjamin Netanyahu. I mean they’re traitors to the United States, but they would like to get into war with Russia and they’re using the Ukraine. It’s really funny because the Ukrainian government is supported by the United States, Poroshenko, they’re just as corrupted as they could be. It’s the worst possible thing in the world for the Ukrainian people, but we don’t give a shit, okay, as long as they do what the United States wants to do, which is to antagonize Russia.
Now everybody talks about Russia having invaded Crimea, but the Crimea was always part of Russian, been part of Russian since I think Catherine the Great. The Crimea only became part of Ukraine in 1954, because Khrushchev got drunk and he signed it over to the Ukrainians. Ukraine was part of the USSR back then, so it didn’t really change anything whatsoever. When the United States sponsored and paid for and admittedly paid $5 billion of American dollars to subvert the Ukrainian government and sponsored the coup d’etat in Ukraine against their democratically elected president. Then the thugs that are running Ukraine started stirring up trouble that was anti-Russian. The people in the eastern part of the country voted and said, “We don’t want to be part of Ukraine, we’re Russian. We’ve always been Russian and we want to be Russian.” Ukraine is kind of split in two.
Ukrainian Navy tried to force a ship through a very narrow straight and the Russians captured the ship and said, “No, you can’t do that. That’s illegal to do.” It’s a hot spot and it’s something that could go nuclear in very short order. We have a small group about 30 people who are at the heart of military industrial complex. They’re neocons, they’re dual nationals. They do not owe any loyalty whatsoever to the United States, but all of it to Israel who want to sponsor war between the United States and Russia. If we do, if we allow them to do that, it’s a war that’s going to last for about 30 minutes.
Maurice Jackson: Well, certainly it’s a war that we don’t want. I recall, Bob, you’ve referenced before in previous interviews it’s a fact that maybe most people aren’t aware of. You referenced that the United States does not engage in war with countries that have nuclear weapons. I’m I correct in my memory on that?
Bob Moriarty: Well, by and large we choose to attack countries that cannot defend themselves. Pakistan was good and Afghanistan was good and Iraq was good and Syria was good and Iran’s good. Why they’re antagonizing Russia, which most certainly is nuclear armed, I don’t know.
Maurice Jackson: Switching gears, let’s move onto companies that have your attention at the moment.
Bob Moriarty: Well, there’s my favorite trio and Quinton Hennigh is behind all three of them in Novo Resources Corp. (NVO:TSX.V; NSRPF:OTCQX), which we have talked about at some length. It’s very hot in Australia right now and summer starts cooling down in March and April and they’ll get busy. Novo is doing some stuff now, but nothing of significance that will move the market. They will be testing at Egina probably starting in April and I expect some very significant results there.
But of more interest is Miramont Resources Corp. (MONT:CSE) that I think they’ve completed six holes so far in southern Peru. They’ve got a very interesting deposit with three big targets that could be a world-class project. I’m not sure the first results they’re going to show out of the box, blow the lead off the stock kind of assays. It’s a drill program that I expect to be of major importance. I expect drill results coming out in two to four weeks, and they’re certainly going to be very interesting and it’s the stocks that I own a lot of and I’d like a lot. It’s got about $30 million market cap. Now Novo has about $400 million market cap, so Miramont’s can move a lot more than Novo in terms of percentage.
Second, you and I went to Irving Resources Inc. (IRV:CSE; IRVRF:OTCBB) a year and a half ago, almost two years ago now. They should and should be in great big quotation marks, should start drilling about mid-March and probably six weeks to two months after that start coming out with the results. They’re testing two things. They’re going to test the area that we saw that had very high grade gold right at the surface in a vein system. Just for your information Keith Barron went over there. The samples that we took tested about $25,000 a ton. Keith Barron took a sample that tested $35,000 a ton. That’s not going to be the first drill target. The first drill target’s going to be in the sinter. The sinter has shown some several grams to the ton assays from the coats of silica cap that makes it the sinter. That sinter is steep because that’s typically not where the gold is found. The gold is trapped underneath the sinter and they’re going to drill into that. I can’t tell you whether Irving will hit on the first hole or its 50th hole, but I expect some real barn burning results there.
Maurice Jackson: It’s truly interesting times for Dr Quinton Hennigh there. How about switching to the Metallic Group of Companies. What can you tell us about them?
Bob Moriarty: Well, the first company that I wrote up going back 18 years ago is NovaGold. The guy that I was working with was Greg Johnson, he was the Vice President of Exploration. Very intelligent guy, very good guy. I like him a lot. What he’s done he’s put together three companies in different commodities. He’s got a company that specializes in copper and it’s called Granite Creek Copper Ltd. (GCX.V:TSXV). He’s got a company called Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTC) that has a platinum, palladium deposit in Montana right next to the Stillwater mine. It appears from a technical point of view, it appears that they’ve got a carbon copy of the Stillwater Mine.
Greg has done a brilliant job of putting packages together that nobody else has ever put together before. Everybody knew there were some good projects at Stillwater that weren’t owned by Stillwater. One guy owned one and another guy owned another. Another company owned the other and what Greg’s managed to do is put that together. Then there’s Metallic Minerals Corp. (MMG:TSX.V) that specializes in silver up in the Yukon. The interesting thing is, it’s all under similar managements. I like him a lot. These are all very quiet companies. Nobody’s heard about them. Nobody pays any attention to them, but I think that all three of them will end up being home runs. I like Greg Johnson a lot, he’s a good guy.
Maurice Jackson: Full disclosure, all the companies that you’ve referenced so far are sponsors of Proven and Probable with the exception of Granite Creek Copper. There’s one more company that recently you’ve been discussing and that is Rover Metals. What can you share with us?
Bob Moriarty: Well, Rover Metals Corp. (ROVR:TSX.V; ROVMF:OTCQB) is interesting. Rover has got the market cap about $3 million and they’ve got just under a million dollars in the bank. They can get started. In a roaring ball market it is not the majors or the mid tiers that have the greatest percentage advance, it’s the little tiny companies that have the major upside. Rover is north of the Yellowknife okay up in the Northwest Territory. I think they’re 110 kilometers north of the Yellowknife.
Most people won’t even recognize this, but I think it’s the biggest gold mine in Canada was the giant mines in Yellowknife. It was a big deal 30 or 40 years ago, but you don’t hear much about that district now. He’s put together a good package. They’re getting a lot of interesting results. He’s got enough money to get started on the drill program and it’s the company that can go from the $3 million market cap to a $30 million market cap with one set of good drill holes.
Maurice Jackson: The CEO there is Judson Culter. Just for our audience, we will be interviewing Group Ten Metal’s tomorrow as well as Rover Metals. Then Metallic Minerals as well next week and we plan to have Granite Creek Copper as well. We just interviewed Novo Resources and we’re trying to get Miramont and Irving back on the program as well here in the future. Finally, Bob, you just released a new book entitled ‘Basic Investing in Resource Stocks: The Idiot’s Guide.’ Allow me to be the first to congratulate you in less than 10 days your book is the best-selling book on Commodities Trading on Amazon. That’s quite an accomplishment.
Bob Moriarty: Well, yeah, but you’re the guy who kept bugging me to write the damn thing. It’s all your fault, it’s not my fault.
Maurice Jackson: I’m delighted and honored that you wrote the book and I know everyone that will be wise enough to purchase a copy will feel the same. Bob, tell us about your book, and why should someone reading purchase a copy?
Bob Moriarty: Well, here’s what’s interesting, if you’ve never written a book or a long article, you don’t realize that once you start writing, it takes a life of its own. I fully intended to cover copper and uranium and zinc and silver and gold and platinum and palladium. What I intended to do turned out to be something totally different than what I actually ended up with. I started writing and whatever it is that controls my typing fingers said, “No, you don’t want to go in this direction. You want to go in this direction,” so I did that. What I did is I put in a lot of things that I’ve learned over the years that they’re very important.
I mean, let me give you a perfect example. There are so many people who are invested in gold and silver and resource stocks, who spend a lot of time worrying about manipulations. The funny thing is the whole manipulation thing is just as big as scam as “Bitcon” and Global Warming. We talked about Bitcon when it was $800 billion and it’s $150 billion now. That was a great financial fraud world test. Global warming and carbon credits is an absolute fraud. It’s a tax. There is no such thing as global warming. The real danger is global cooling and it has far more to do with the sun than it has to do with the actions of man.
To a much smaller degree, the idea of manipulation being significant, it’s similar. It’s fraud and the people who talk about it know that they’re using fraud. However, it’s very appealing. When you go out and buy a company or when you go out and buy a commodity and it goes down, you can always point at manipulation and say, “It’s manipulated. I didn’t lose money because I’m stupid and made bad decisions. I lost money because it’s manipulated.” The guys who talk about manipulation and use manipulation as an excuse don’t bother telling everybody every financial instrument is manipulated. It is manipulated by everybody all of the time. Now if you think that manipulation is significant, you should not invest. It’s that simple, but everything’s manipulated.
We know the government manipulates the interest rates. We know they manipulate currencies, good chance they manipulate stock market. Who gives a shit? It’s like the sun coming up, you can’t do anything about it. Why worry about it? I put in a bunch of tips that I’ve learned over the years from mistakes that I’ve made and I’m really quite proud of the book. I think it’s a good book and I think that people will save themselves a lot of money by buying and reading the book.
What I try to do is I try to make books very simple. I’m not interested in a 400 or 500 page turner or I’m trying to espouse some really unique theory of investing. I don’t give a shit. I want to help ordinary people make decisions that can make them money. Now, I think you and I have talked a couple of times about the Daily Sentiment Indicator. I have used that to predict turns in 24 commodities. I did it in January of 2018 and then I did it in the end of December 2018. Only 24 commodities that I predicted would turn direction, 24 of them did it. The funny thing is I’m not a guru. Anybody could do that, if they would read the book, if they would understand the basics. If they use the tools that are available to everybody. Anybody could do that. There’s no magic to it. Everybody wants to convince people there’s some kind of magic. You need to listen to the experts, you need to listen to the gurus. Well, the experts are all full of shit. Why would you want to listen to them?
Maurice Jackson: Your book resonates with so many people, hence the success it’s had already. When one reads this book, you have the ability to tap into one of the deepest reservoirs of intellectual capacity in this sector that has a proven pedigree of success. Bob is sharing with you the tools he uses, and they’re very practical. Anyone as you referenced could use the tools.
When I first read the book, it wasn’t what I expected. Not in a disappointing way, I thought you were going to go into a more technical side but instead it’s a very pragmatic book. It’s very easy to understand and apply. Bob, on behalf of Proven and Probable, we want to thank you for giving us the seal of approval as one of the trusted sources that you recommend for readers. That is by far the highest compliment to our work and I want to thank you for that sir.
Bob Moriarty: Well, I don’t know whether you should thank me. If people hate the book, I’m going to blame you.
Maurice Jackson: We’ll take the blame on that one. Let me ask you this as well, what type of feedback have you received from your peers in the industry?
Bob Moriarty: Very positive. When you’re a writer you never really know how people are going to react to it. I mean face it, there’s a lot of books that are worth reading. When you do something and you have invested a lot of time and energy and thought into something, you want people to react to it in a positive way. I’ve talked to a lot of people and I’ve had a lot of people do reviews so far and there will be a lot more reviews. Everybody is receiving it very well. I think these guys are not trying to suck up to me. If they saw a problem with it, they’d say something.
Maurice Jackson: Bob, give us a title one more time and share with us where we can purchase a copy.
Bob Moriarty: Okay, you can go to Amazon.com and buy it there in any country they sell books. It’s “Basic Investing in Resource Stocks: The Idiot’s Guide.” I want everybody to understand it’s not the reader that’s the idiot, it’s me.
Maurice Jackson: Bob, before we close, last question. What did I forget to ask?
Bob Moriarty: Probably dozens and dozens of things. You just lack the ability to ask any interesting questions. Once you got past, “How are you doing on your book?” you just ran out of interesting things to say.
Barbara Moriarty: He forgot to ask about the new investment.
Bob Moriarty: Oh, which new investment?
Maurice Jackson: Well, please share with us.
Barbara Moriarty: Sheep. I bought two of the Swiss Valley black Nosed Sheep. They are a special breed. They are very rare and they are absolutely gorgeous. They are living in five star luxury in the new forest in England and they are two males, but they sort of didn’t go full, did they really?
Bob Moriarty: Yeah. Let me be nice about this. They used to be males.
Barbara Moriarty: They have them fixed, but they’re not like normal sheep. They are like lovely cuddly teddy bears.
Maurice Jackson: Pleasure speaking with you, ma’am.
Barbara Moriarty: I will send you a photo.
Sheep
http://www.valaisblacknose.org/
Maurice Jackson: Bob, for someone that wants to get more information on your work, please share the websites.
Bob Moriarty: I’ve got two websites, 321energy and 321gold, and they’re free websites and we’ve got about 50,000 people a day coming to them. We think they’re valuable.
Maurice Jackson: Last but not least, please visit provenandprobable.com for Mining Insights and Bullion Sales. You may reach us at contact@provenandprobable.com.
Bob Moriarty of 321gold and 321energy.com, thank you for joining us today on Proven and Probable.
Bob and Barb Moriarty brought 321gold.com to the Internet almost 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.
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.

Disclosure: 

1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Miramont Resources, Irving Resources, Novo Resources, Granite Creek Copper, Group Ten Metals and Metallic Minerals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Miramont Resources, Irving Resources, Novo Resources, Granite Creek Copper, Group Ten Metals and Metallic Minerals are sponsors of 321 Gold and/or 321 Energy.
2) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Miramont Resources, Irving Resources, Novo Resources, Granite Creek Copper, Group Ten Metals and Metallic Minerals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Miramont Resources, Irving Resources, Novo Resources, Granite Creek Copper, Group Ten Metals and Metallic Minerals are sponsors of Proven and Probable. Proven and Probable disclosures are listed below.
3) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
4) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
5) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Granite Creek Copper, Group Ten Metals and Metallic Minerals, companies mentioned in this article.
Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
The Information presented in Proven and Probable is provided for educational and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this forum is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The Information on this forum and provided from or through this forum is general in nature and is not specific to you the User or anyone else. You should not make any decision, financial, investments, trading or otherwise, based on any of the information presented on this forum without undertaking independent due diligence and consultation with a professional broker or competent financial advisor. You understand that you are using any and all Information available on or through this forum at your own risk.

Categories
Base Metals Junior Mining

GROUP ELEVEN Announces Non-Brokered Private Placement

VANCOUVER , March 1, 2019 /CNW/ – Group Eleven Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF; FRA: 3GE) (“Group Eleven” or the “Company) is pleased to announce a non-brokered private placement financing of up to 8,400,000 units at a price of $0.12 per unit for gross proceeds of $1,008,000 . All currency is denominated in Canadian dollars.

Group Eleven Announces Non-Brokered Private Placement (CNW Group/Group Eleven Resources Corp.)
Group Eleven Announces Non-Brokered Private Placement (CNW Group/Group Eleven Resources Corp.)

Each unit will consist of one common share and one half non-transferrable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.24 per share for two years from the date of issue.

This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. Directors, officers and employees of the Company may participate in a portion of the financing.

Group Eleven has engaged Canaccord Genuity Corp. to act as its financial advisor for the offering. The Company may compensate persons who act as finders for the Offering in accordance with the rules of the TSX Venture Exchange.

Net proceeds of the financing will be used to fund the Company’s focussed drill program on the Ballinalack project and exploration on other projects in Ireland , as well as, general working capital.

About Group Eleven Resources

Group Eleven Resources Corp. (TSX.V: ZNG; FRA: 3GE and OTC: GRLVF) is focused on zinc exploration in Ireland . The Company’s large land package (89 prospecting licenses totalling 2,900 square kilometres) allows Group Eleven to leverage new geological thinking and geophysical technology to systematically rethink key aspects of the Irish zinc district. Key projects include Ballinalack (with Joint Venture partner Nonfemet), Stonepark (with Joint Venture partner Connemara Mining), Silvermines and Tralee. The Company’s team includes accomplished mining professionals with direct experience in finding mines, building companies and exploring Irish zinc deposits.

Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski , P.Geo.
Chief Executive Officer

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

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States .

SOURCE Group Eleven Resources Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2019/01/c4427.html

Categories
Base Metals Energy Junior Mining Project Generators

RIVERSIDE RESOURCES INC. Increases Private Placement Due to Investor Demand

GlobeNewswire

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

VANCOUVER, British Columbia, Feb. 27, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (the “Company” or “Riverside”) (RRI.V) is pleased to announce that the Company has received exceptionally strong investor interest and intends to increase its previously announced non-brokered private placement (see press release February 13, 2019) by an additional $800,000. Riverside now plans to raise up to $2,300,000 in gross proceeds from the issuance of 14,375,000 units at a purchase price of $0.16, up from the original $1,500,000 target.

Each unit consists of one common share and one whole common share purchase warrant (“Unit”). Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.22 (“Warrant”). If, at any time after four months following the closing of the private placement, the closing price of the common shares on the TSX Venture Exchange (“TSX-V”) trades at a VWAP equal or greater than $0.45 for 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants by disseminating a press release announcing the new expiry date whereupon the Warrants will expire on the 30th trading day after the date on which such press release is disseminated.

The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional project acquisitions and further target refinement on existing projects to advance towards new partnerships. The Company may pay finders fees in cash or Units to qualified finders of up to 8.0% of the aggregate gross proceeds realized from subscribers identified by the finder. The closing of the private placement is subject to TSX-V approval.

The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons without United States federal and state registration or an applicable exemption from registration requirements.

About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The Company has 45M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone:  (778) 327-6671
Fax:  (778) 327-6675
Web:  www.rivres.com		 Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671 ext. 312
TF: (877) RIV-RES1 ext. 312
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., “expect”, “estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the 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.

Categories
Base Metals Energy Junior Mining

NEVADA COPPER Construction and Financing Update – Pumpkin Hollow Remains On Schedule to Enter Production in Q4, 2019

VANCOUVER, British Columbia, Feb. 22, 2019 (GLOBE NEWSWIRE) — Nevada Copper Corp. (NCU.TO) (“Nevada Copper” or the “Company’’) is pleased to confirm that its Pumpkin Hollow underground copper project (the “Underground Project”) remains on target to commence production in Q4 2019 and wishes to provide an update on recent operations progress, financing discussions and exploration activity.

HIGHLIGHTS

  • Operations update:
    • Underground project construction progressing on budget and on schedule for first production targeting Q4 2019
    • New technical report, including the open pit project pre-feasibility study, well-progressed with completion targeted for end of Q1 2019, and ongoing focus on capital efficiency and IRR maximization
  • Exploration update:
    • Regional survey work has led to new prospects being identified and the Company has subsequently staked approximately 5700 acres of unpatented claims, expanding the Pumpkin Hollow property by 32% to the east
  • Financing update:
    • Discussions well underway regarding ECA-backed project finance facility to further optimize its balance sheet for the long-term
    • Working capital facility and offtake arrangements also in progress

Matt Gili, Chief Executive Officer of Nevada Copper, stated, “We are very pleased that construction at Pumpkin Hollow remains on target for entering production in the fourth quarter of this year.  As highlighted by our solid progress, our team is performing extremely well and we now have 250 employees, contractors and subcontractors active on site. In addition, we are continuing to execute on our longer-term development plans and have significantly expanded our mineral claims area to the east via staking.”

OPERATIONS UPDATE

As at mid-February, with approximately 250 employees, contractors and subcontractors on site, the construction of the Pumpkin Hollow Underground Project is progressing on schedule, including:

Underground Works – consisting of the production shaft and shaft stations (east main shaft), the ventilation shaft (east north ventilation shaft) and lateral development.

  • East Main shaft utilities installation completed ahead of schedule
  • Lateral development on the 2850 level and 2770 level have advanced 322ft and 182ft respectively (exclusive of shaft station)
  • East North Ventilation Shaft surface infrastructure is complete and shaft sinking has advanced to 150ft

Surface Works – consisting of processing plant, dry stack storage and all other surface facilities.

  • Earthworks complete for the primary dry stack facilities
  • Concrete foundations for the grinding and cyclone areas are well underway

The previously announced new technical report, including the open pit project pre-feasibility study, is well progressed with targeted completion by the end of Q1 2019. The Company continues to apply its philosophy of focusing on capital efficiency and IRR-maximizing staged development.

EXPLORATION ACTIVITY UPDATE
Regional survey work has led to new prospects being identified and the Company has subsequently staked approximately 5700 acres of unpatented claims, expanding the Pumpkin Hollow property by 32% to the east. The staked claims appear to have good porphyry-style alteration and copper mineralization at surface. The Company is currently mapping and sampling the newly-acquired claims area, in addition to following-up on additional areas of high-grade surface skarn mineralization on its property.

ENVIRONMENTAL & COMMUNITY ASSESSMENT UPDATE

As part of its ongoing commitment to community engagement the Company has recently prepared an updated Environmental and Community Assessment Summary which provides information on the studies that have been performed and the permits and authorizations in place to protect the environment and address any community-related issues. This report is available on the website at www.nevadacopper.com under the Community heading.

FINANCING UPDATE

The Company is continuing discussions with potential export credit agency-backed project finance lenders with the objective to further optimize its balance sheet for the long-term. Such discussions may provide the opportunity to substantially reduce the cost of the Company’s debt service and attract strong finance partners for potential future open pit development. Discussions are also ongoing relating to associated agreements to complement such a project finance facility, including a working capital facility, and should it be required or preferable, other financing, such as a standby/overrun facility, as well as offtake arrangements.


EN Ventilation Shaft Surface Infrastructure Completed and in Use

Sag/Ball/Verti Mills and Cyclone Foundations well Advanced

Caterpillar R1600 Loader being installed on the 2850 Shaft Station

January 15, Site Construction Progress including East Main Headframe

Qualified Persons

The information and data in this news release was reviewed by David Swisher, P. E., VP of Operations for Nevada Copper, who is a non-independent Qualified Person within the meaning of NI 43-101.

About Nevada Copper

Nevada Copper’s (NCU.TO) Pumpkin Hollow project is the only major, shovel-ready and fully-permitted copper project in North America that is currently under construction. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully-permitted projects include: the high-grade Pumpkin Hollow underground project which is in construction with a view to commencement of copper production in Q4, 2019; and the Pumpkin Hollow open pit project, a large-scale copper deposit.

Additional Information

For further information please visit the Nevada Copper corporate website
(www.nevadacopper.com).

NEVADA COPPER CORP.

Matthew Gili, President and CEO

For further information call:

Rich Matthews,
VP Investor Relations
Phone: 604-355-7179
Toll free: 1-877-648-8266
Email: rmatthews@nevadacopper.com

We Seek Safe Harbour

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/7e68aff1-3344-4ef1-890d-b071ec75ec7e

http://www.globenewswire.com/NewsRoom/AttachmentNg/e307abde-6c27-469f-a3ff-97165db3d5e6

http://www.globenewswire.com/NewsRoom/AttachmentNg/8cfba60e-9467-4072-867a-36003d3749e0

http://www.globenewswire.com/NewsRoom/AttachmentNg/5bc2b941-945c-4118-9b02-c3a71925c2d1

 

Categories
Base Metals Junior Mining

MIRAMONT Announces Grant of Incentive Stock Options

Vancouver, British Columbia–(Newsfile Corp. – February 21, 2019) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FRA: 6MR) (“Miramont” or the “Company”) announces that it has granted stock options to acquire up to 1,145,000 common shares of the Company, 900,000 of which were granted to certain directors and officers of the Company. Each of the stock options is exercisable for a five year term expiring on February 21, 2024 at a price of $0.415 per common share. On February 20, 2019, the last day that the Company’s common shares traded prior to the granting of the stock options, the closing trading price of the common shares on the Canadian Securities Exchange was $0.415. The options are subject to vesting provisions, with one-third vesting on the date of grant, an additional one-third on the first anniversary of the date of grant and the remaining one-third on the second anniversary thereof. The stock options are non-transferable. Any common shares issued pursuant to the exercise of the stock options will be subject to a four month hold period expiring on June 22, 2019.

About Miramont Resources Corp.

Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s two key projects are Cerro Hermoso and Lukkacha, both located in southern Peru. Cerro Hermoso is a diatreme-hosted copper dominant polymetallic prospect. Lukkacha is a classic copper-porphyry prospect.

On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.

“William Pincus”

William Pincus, President and CEO

For more information, please contact the Company at:
Telephone: (604) 398-4493
info@miramontresources.com
www.miramontresources.com

Reader Advisory

This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42976

Categories
Base Metals Junior Mining Precious Metals

BOB MORIARTY: “The Single Biggest Mistake I’ve Made In Investing And How To Tell If A Junior Mining CEO Is Lying To You”

 by  |  posted in: Aben Resources, Charts, Gold, Gold Stocks, Great Bear Resources |  0

In Energy & Gold’s latest conversation with 321gold founder Bob Moriarty we are treated to some glimpses into Bob’s newly published book on resource investing. Including Bob’s special technique for figuring out if a junior mining CEO is lying to him….

 

Goldfinger: I just read your latest book “Basic Investing in Resource Stocks: The Idiot’s Guide” and I found it to be extremely entertaining and chock full of valuable lessons for junior mining investors. Can you tell us about why you wrote this book and offer some clues as to what readers might learn?

Bob Moriarty: I’ve had several people literally bug me for years, asking me to write a book about the basics of junior resource investing. One of the interesting things about writing about a subject is that it forces you to think about your beliefs. Strange enough the book came out totally different from how I thought it would come out, and I think it’s better.

Goldfinger: The book is basically about the lessons you’ve learned through 50 years of investing, all the way from when you first came back from Vietnam and received some good advice from your broker to some of your most recent lessons including Novo Resources and Novagold. Can you give us a little taste of what’s in the book?

Bob Moriarty: Absolutely. The greatest bull market i’ve ever seen in a stock was in Novagold Resources, it went from US$.09 a share (C$.13 on the Canadian listing) in 2001 to more than US$20 a share (also more than C$20 per share on the Canadian listing) in 2007.

NG.TO (Monthly – 20 Year)

If you were a bull you had an extraordinary opportunity to buy it cheap and make a 200x gain on your investment. Whereas, if you were a bear you could have also made a lot of money because Novagold dropped from over $20 a share in 2007 to a mere $.46 per share in October 2008 when the Global Financial Crisis kicked the shit out of the junior mining sector.

What I realized from Novagold is that we focus on way too many things that are absolutely meaningless – this is how people lose money, they pay attention to theories that simply don’t make any sense. Novagold’s roller coaster ride can also teach us about cycles; if you get the cycles right you don’t need to worry about much else.

How well do you know Frank Giustra?

Goldfinger: I know about him a little bit as an investor but I don’t think i’ve ever met him in person.

Bob Moriarty: What was he doing between 1996 (after Bre-X) until 2001?

Goldfinger: I’m not sure exactly.

Bob Moriarty: He was making movies. He started Lion’s Gate Films. When Bre-X hit he decided that was going to be it for the mining sector for a number of years and he went into the film business. Then he picked the bottom in 2001 when he decided it was time to get back into the mining sector and he began building Wheaton River Minerals which later became Goldcorp and Silver Wheaton. Giustra is one of the most successful resource investors in history and my point is that there is a time to be in resource stocks, and there is a time to be out of resource stocks.

If you look for the signs of a major top or a major bottom you can do very well, but basically ½ of the time you shouldn’t be invested at all. I sold my gold and silver in January 1980 and didn’t own an ounce of metal again until 1999 when I decided it was a tremendous opportunity to accumulate precious metals when nobody else cared, everyone else was buying stock in pets.com, Worldcom, and Cisco.

Goldfinger: The point you just made is that everything is cyclical, especially in the mining and junior resource sectors where economic cycles heavily influence the prevailing price trends. There are bear cycles where one should have minimal investment exposure to the resource sector, and there are bull cycles in which many resource shares will see 1000%+ increases almost regardless of the quality of their projects and/or management teams.

Bob Moriarty: Correct.

Goldfinger: Using the example of Novagold, when it reached $20 a share in 2007 it was at the point of maximum optimism that metals prices would remain high for a long time to come and there were no concerns about obtaining project financing. And then barely more than a year later that optimism gave way to extreme pessimism in the depths of the Global Financial Crisis. It’s just another wonderful example of fading greed and buying fear and how we can use the cyclical nature of the sector to our advantage instead of being a victim of it.

Bob Moriarty: During bull markets everything goes up and during bear markets everything goes down and there are times when you simply don’t want to be involved in the resource sector. If people waited until December of 2015 or January 2016 when everyone was extremely pessimistic there was a 400%+ rally across the junior mining sector within six months. You only need to catch moves like this a couple of times in your lifetime to create some real wealth.

Goldfinger: Ok now i’m going to ask you a couple of tough questions since we’re talking about how important cycles are in the resource sector. Are we in a bull market or a bear market right now in the precious metals and junior mining sectors?

Bob Moriarty: We’re in a bull market in both. But palladium is about to fall off a cliff and gold is getting close to being frothy with a DSI (Daily Sentiment Index) of 90.

Goldfinger: How do you know we’re in a bull market?

Bob Moriarty: If you measure all the sentiment indicators that hit absolute extremes in January 2016 we made a capitulation low then, and until they hit an absolute overbullish extreme in the other direction then we will be in a bull market. I see nothing out there to indicate that we’re anywhere near the end of the bullish cycle.

Goldfinger: Going back to Novagold is it possible for an investor to catch that entire move from $.09 to $20? At some point the gains become too great OR the corrections become steep and scary enough that even the most seasoned investor is going to get shaken out of their position along the way, right?

Bob Moriarty: You’ve got to sell some on the way up and you’d be a fool to not ring the register on some at 5x, 10x, 20x, etc. You’ve simply got to sell some or even all of your position, and nobody can catch the entire move. I show the example of Novo Resources (TSX-V:NVO) in my book and Novo offers 3 or 4 opportunities for bulls each year and 3 or 4 opportunities for bears.

The single biggest mistake that I have made over the years is not selling when I had the chance. If I would have clipped some shares off every time I had the chance to I would have made ten times more money over the long run. It’s way better to sell some at a profit rather than hanging onto a stock for several years hoping for it to turn around.

Goldfinger: I think that’s a lesson that a lot of people need to hear. Some of the most common things I see with investors in the resource sector is being afraid to sell some for fear of missing out on more upside, and holding onto big losing positions for years in hopes that there will eventually be a rebound. “Cheap” can always get cheaper especially when the sector is out of favor.

I want to ask you about one of my favorite quotes from the book, here it is:

“It’s been my experience that resource companies are often run by idiots pretending to be managers who live the good life while sucking the financial blood out of the veins of helpless investors. It’s a dangerous business, where failure is the norm. Share prices run up and down faster than a bride’s nightie. I’ve run into charlatans, con men and fools. I’ve visited hundreds of mining properties and i’ve been lied to on almost every trip.

I find that wonderful, being lied to maybe 75 percent of the time. I used to be in the computer business. There I got lied to 100 percent of the time. So the liars in mining are at best amateurs in comparison.” ~ Bob Moriarty

Is this true? Are 75% of the people in this sector liars? Is there a way we can improve the level of integrity in this sector or is this just how the world is?

Bob Moriarty: It’s the way of the world.

Goldfinger: So this is just how the world is and things are? People are going to lie so we should expect it?

Bob Moriarty: Yeah and it’s a good thing to know. When everyone was four or five years old your parents probably told you to like people, to be nice to people, and to trust people but as you grow older you really do realize that people are scumbags. I mean the shit that people pull on each other is just amazing sometimes. One of my favorite analogies is that if you really trust people you should go buy & sell things on Ebay and then come back to me. The scams that people come up with are really amazing. The older I get the more I realize how stupid people are and how corrupt people are. Now I want to be clear that this is not necessarily a bad thing, it’s simply the way of the world.

Goldfinger: One of my father’s favorite sayings towards the end of his life was “the more you see of people the more you will like animals” and I always thought this was too skeptical and dour but it seems that you tend to agree Bob.

Maybe we can look at the glass as half full for a moment. Aren’t there some good people in the world and some really honest good people in the mining sector?

Bob Moriarty: Yes, there are some wonderful people in the sector and there are some guys who tell the truth as a rule. However, one thing you’ve got to realize is that when a guy starts lying to you he may very well be lying about everything. I have had some investments over the year in which I knew the managers were lying about some things but I still loved the story so much that told myself “well, he can’t be lying about everything”, but sure enough, they were lying about everything.

Goldfinger: Wow. I think that’s a cold hard truth that some people need to hear. It might be better to approach investing with a skeptical eye rather than an optimistic one. I know there are some companies out there right now that you are quite skeptical of, are you willing to mention a couple?

Bob Moriarty: I’m hesitant to mention names but I will say this. If you catch a CEO or company executive lying about one thing you can safely presume that they are lying about everything. There is something called lying by omission, which is quite common. These people will simply ‘forget’ to mention important details that aren’t favorable to their company’s story.

Goldfinger: I think that’s a great point. There is sort of a gray area in which companies aren’t lying per se, but they are telling the story in the most favorable way possible and simply not including some key facts that might make investors a lot more reluctant to buy shares. We should probably assume that when the story is being told by a company CEO that they are delivering it in the most favorable light possible, and we should be looking to ask for the things that the company is NOT telling us.

An example of this lying by omission would be a situation in which a junior explorer has a 43-101 compliant resource of 1 million ounces of high grade gold, but the resource is near a residential area and there is no chance they will get permitted to build a mine. This is a simple and even somewhat ridiculous example but it helps to illustrate the point. The CEO of this company is likely to focus on their 1 million ounces of high grade gold and how valuable it must be, however, if you can’t get the gold out of the ground it’s not worth anything. There are lots of companies out there with projects that have significant permitting challenges in front of them and investors should also be considering the likelihood that a project will get permitted and actually generate revenue at some point down the road.

Bob Moriarty: In the example that you just mentioned the company is being deceptive by not being upfront about the permitting roadblocks. You can lie to people by not telling them all of the truth. When I talk to a company I ask them two questions to start off: “Tell me the 3 best things about your company” and “Tell me the 3 worst things about your company”.

Everyone has 3 good things to say about their company, that’s the easy part. It’s usually harder for them to answer the question about the 3 worst things. What I do then is I time them and the longer it takes for a CEO to answer the question about the 3 worst things about their company the more likely they are to be lying from my experience.

Goldfinger: That’s a clever technique Bob. I’m envisioning junior mining CEOs practicing answering the question about the worst things about their company as soon as they read this interview.

Turning to the current market environment we’ve seen a nice rally in precious metals (gold is up ~$60 and silver is up nearly $1) since the last time we spoke and you made a point of recommending investors own precious metals before the Federal Reserve embarks upon QE-infinity again. How would you characterize the current sentiment environment in the metals? Are we starting to get a bit frothy?

Bob Moriarty: I wouldn’t call it frothy, yet, but with the DSI for gold just reaching 90 and the DSI for palladium at 97 we’re starting to get close to being frothy. What you want to pay attention to are the “anti-gold” and “anti-mining shares” assets and I would call those the general stock market. I think when the broader stock market is strong it is generally a headwind for precious metals and mining stocks (not always, but generally speaking). However, when the broader stock market crashes I believe we’re really going to see a parabolic rally in precious metals and mining stocks.

I think we’re going to see a 1937 redux this year. The Dow peaked in September of 1929 and went on to crash in October, continuing lower until July of 1932 when it began to rally 150% until June of 1933. It went up again until 1937 and then proceeded to crash again as fears around a World War began to percolate. I see a major crash starting soon as a worldwide revolution begins to take shape globally. There is no cure for this, there is no fix for what’s beginning to take shape.

Goldfinger: Did you see the recent quote from Alan Greenspan on central banks and gold? Here’s the quote that caught my attention:

“If gold is a relic of history, why do Central Banks + the IMF still hold over $1 trillion of gold?  If it’s meaningless, why is everybody still holding it?” ~ Alan Greenspan, former Federal Reserve Chairman

Bob Moriarty: Alan Greenspan actually understands gold better than any economist in the world.

Goldfinger: That quote made me think more deeply about why central banks do hold so much gold and why they have continued to accumulate gold. Simply put, these central bankers are making it up as they go along and gold gives them some semblance of stability and value to hang onto. Without gold in their vaults the only thing most countries have left to ensure the value of their currencies is military force, essentially guns. Gold is a store of value in a valueless world.

Nobody knows what the endgame is for central bank quantitative easing. So far it’s worked pretty well….

Bob Moriarty: No, it hasn’t! QE is putting a band-aid on top of a band-aid on top of a band-aid that’s covering up an infected wound. In 5,000 years of recorded financial history there has never been negative interest rates. The financial system died in 2008 and everything the central banks have done since then is pumping helium into a cadaver. You can blow it up but it’s still a cadaver.

Did you know that there are seven million people in the U.S. who are more than 90 days late on their car payments?

Goldfinger: I didn’t know that and that sounds like an enormous number.

Bob Moriarty: People make their car payments before they pay their rent. They need a car to get to work so for there to be millions of people more than 90 days late on their car payments it’s a sign that there is a large segment of the U.S. economy that are experiencing significant hardships.

Goldfinger: There was a tremendous push by the auto industry over the last several years to get everyone into a new vehicle. This included a big resurgence in subprime auto-lending and it looks like we’re starting to see some of the consequences of this massive effort to sell cars at almost any cost.

Bob Moriarty: Not making your car payment is sort of like smashing your tennis racket into the court in the middle of a tennis match. It’s shooting yourself in the foot and it’s something that someone would pretty much only do if they were SOL.

Goldfinger: Getting down to the nitty gritty of the junior mining sector we’ve seen some big moves in certain stocks recently. Great Bear Resources (TSX-V:GBR) for example has basically doubled in share price in the last six weeks, reaching a nearly C$200 million market cap at its high last week. GBR appears to have just the right story for the junior gold exploration sector right now i.e. high grade gold in a great location.

Bob Moriarty: I believe Great Bear should be even higher. GBR is in a prime location (Red Lake District of Ontario, Canada not far from Goldcorp’s famous Red Lake Mine) and they have had fabulous drill results The market is going to pay up big for GBR if they can keep up these results.

Take for example a stock like Aben (TSX-V:ABN) which delivered a fantastic drill hole to kick-off its summer program but couldn’t back it up with results after that. ABN went to nearly C$.50 and then back down to C$.10:

ABN.V (Daily – One Year)

You get punished if you don’t follow up with good results, and you get rewarded if you do. That’s a good environment for companies and investors in the sector, and it’s a fair environment.

Goldfinger: It’s a balanced market environment in which we’ve seen some big winners and some big losers all depending upon the quality of their news flow.

Tell me about Irving Resources (CSE:IRV), i’ve noticed that IRV shares have continued to make new highs. Has Irving begun drilling?

IRV.CA (Daily – One Year)

Bob Moriarty: They haven’t actually started to drill. The last word I got was that they will begin drilling after PDAC due to a visa issue with their Canadian drillers. It’s out of the control of the company. I’m hoping they will be drilling by the middle of March.

Goldfinger: So Irving is using a Canadian drill crew because they can’t get drillers in Japan?

Bob Moriarty: Japan has a major demographic issue with an aging population and very few young men. Japan is in the worst shape possible in terms of population trends. They’re going to have to make some major changes.

Goldfinger: You had also mentioned Miramont in our last conversation. Can you update readers on MONT?

Bob Moriarty: Miramont is a copper-gold-silver play in southern Peru. They have started drilling and they have sent some material to the lab with results expected some time in March. Quinton Hennigh is the chairman of Miramont and I think this could be a home run.

Goldfinger: I must say that MONT has a nice looking chart and if it can get above resistance near C$.46 I could see it rallying another 50%+.

MONT.CA (Daily – One Year)

Goldfinger: One more thing i’d like to mention about your book Bob – you have an excellent list of services and newsletter writers that you use to help you be a better investor, however, I noticed one in particular that you left out…..
Bob Moriarty: (Laughs) Ah yes, yours!!

I’d like to thank Bob for an entertaining interview and I know I learned a few things in this conversation. I can’t recommend Bob’s new book more highly, the $12.99 price is like receiving the most valuable nuggets of wisdom from a lifetime of investing for the cost of one trading commission. Do yourself a favor and buy this book, then read it cover to cover in one sitting.
 
Disclaimer:
The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. Some of the stocks mentioned are high-risk venture stocks and not suitable for most investors. Consult the companies’ SEDAR profile for important risk disclosures.
EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.
This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.

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