Limoneira Company (LMNR), a diversified citrus packing, sales and marketing company with related agribusiness activities and real estate development operations, today announced that Harold Edwards, the Company’s Chief Executive Officer, and Mark Palamountain, the Company’s Chief Financial Officer, will be presenting at the 21st Annual ICR Conference, to be held January 14-16, 2019, at the JW Marriott Orlando Grande Lakes in Orlando, Florida.
The Limoneira investor presentation is scheduled for Tuesday, January 15, 2019, at 11:00 am ET. The presentation will be webcast live and archived at www.limoneira.com. Visitors to the website should select the “Investor” tab and navigate to the “Events & Presentations” section to access the webcast.
About Limoneira Company
Limoneira Company, a 125-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (pronounced lē mon΄âra) is a dedicated sustainability company with 14,500 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona and Chile. The Company is a leading producer of lemons, avocados, oranges, specialty citrus and other crops that are enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.
Five holes will step out from successful prior drill holes
TSX VENTURE SYMBOL: FUU
KELOWNA, BC , Jan. 3, 2019 /CNW/ – FISSION 3.0 CORP. (“Fission 3” or “the Company“) is pleased to announce it will shortly be commencing a 1,850m five-hole winter drill program at its PLN project in the Athabasca Basin region of Saskatchewan, Canada . The program will focus on high-priority targets within a 700m mineralized corridor identified during the previous drill program. All five holes will test the A1 conductor, stepping out 25m and 50m north along strike of PLN14-019, which intercepted significant uranium mineralization. These five winter holes are part of an overall 3,250m PLN program approved for 2019.
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Fission 3.0 Corp. (CNW Group/Fission 3.0 Corp.)
PLN is located in the south-west area of Saskatchewan’s Athabasca Basin, immediately adjacent and to the north of Fission Uranium’s PLS project, which hosts the high-grade Triple R uranium deposit. With its proximity to large-scale, high-grade uranium deposits, and with multiple geological and geophysical interpreted features, including an extensive drill-identified mineralized corridor, PLN ranks highly in Fission 3’s extensive portfolio.
News Highlights
PLN is prospective for high-grade uranium at shallow depth
The property is adjacent to, and part of the same structural corridor as Fission Uranium’s PLS project, host to the Athabasca’s most significant major, shallow-depth, high-grade uranium deposit
Step out drilling strategy. Drilling will step out from one of the previously-drilled, mineralized holes (PLN14-19), which intercepted 0.5m at 0.047% U3O8 within 6.0m @ 0.012% U3O8 during the 2014 drill program.
Prior drilling has intercepted significant uranium and shown large-scale potential. The Company’s 2014 drill program identified a mineralized corridor associated with the A1 conductor ~700m in strike length, where results returned significant mineralization and pathfinder elements.
Highly-targeted winter holes part of larger program at PLN. An 8-hole, 3,250m drill program has been approved by the PLN joint venture for 2019, with 5 holes ( 1,850m ) to be drilled this winter.
Ross McElroy , COO, and Chief Geologist for Fission, commented,
“Our prior drilling has already proven that PLN hosts uranium and, importantly, those results have highlighted the potential for large-scale mineralization. Winter drilling will focus on the approximately 700m mineralized trend and will use a strategy of step outs from one of our previous, successful holes on the property.”
PLN Package: The PLN package consists of a total of 36,537 ha in 37 mineral claims of which Fission 3 has a 90% interest in 27,408 ha (10 mineral claims) and a 100% interest in an additional recently staked 9,129 ha (27 mineral claims). Azincourt Energy Corp. holds a 10% interest in 27,408 ha of the PLN property.
The property, just inside the Athabasca Basin, is prospective for high-grade uranium at shallow depth. The property is adjacent to, and part of the same structural corridor as Fission Uranium’s PLS project, host to the Athabasca’s most significant major, shallow-depth, high-grade uranium deposit. Previous drill results show large scale potential. Drilling in 2014 identified a mineralized corridor associated with the A1 ~700m in strike length, where results returned significant mineralization and pathfinder elements (uranium, boron, copper, nickel and zinc) and included hole PLN14-019 which intercepted 0.5m at 0.047% U3O8 within 6.0m @ 0.012% U3O8.
Wales Lake Update: A total of 586m of drilling in 2 holes were completed on the southwest and northeast areas respectively of Block C of Wales Lake in December. Both holes targeted basement electromagnetic conductors that were defined by airborne and ground geophysics. The drilling indicates that the southwestern area of Block C appears to have a higher potential for hosting mineralization.
Hole WL18-001 is an angled hole located on the northwest striking major conductor trend in the southwestern corner of the property. The hole was drilled to a depth of 305m and encountered bedrock at 165.5m . Bedrock consisted of alternating sequences of quartz-chlorite-garnet gneiss and sulphide rich quartz-feldspar-biotite-garnet gneiss. Basement geology appears to be roughly flat lying to gently dipping. Intervals of moderate to strong hematite and chlorite alteration occur throughout. Several narrow intervals of fault gouge within strongly foliated regions were encountered throughout. No anomalous radioactivity was encountered.
Hole WL18-002 is an angled hole located in the northeast corner of the property. Similar to that seen in WL18-001, the basement geology appears to be roughly flat lying to gently dipping. The hole was drilled to a depth of 281m and encountered bedrock at 143m . Bedrock consisted of broad sequences of orthogneiss and granodiorite/granitoid. Minimal chlorite alteration is present to a depth of 195.7m . A narrow interval of anomalous radioactivity associated with a pegmatite vein was encountered from 170.0 to 170.5m . Radioactivity in drill core peaked at 500 cps and downhole gamma survey peaked at 3,239 cps. It is likely the radioactivity is from thorium in the pegmatite rather than uranium.
Wales Lake: The 100% owned Wales Lake property comprises 30 claims in 3 non-contiguous blocks totaling ~35,440 hectares and is accessible by road with primary access from all-weather Highway 955. Similar to Fission Uranium’s PLS property, Wales Lake occupies the same stratigraphic position within the Clearwater Domain and represents relatively shallow depth basement hosted target areas outside of the margin of the Athabasca Basin. From west to east the 3 blocks are referred to as A, B and C respectively. Block A is the westernmost and is located ~30km west of Fission Uranium’s flagship high-grade Triple R uranium deposit. Block B is located a further ~6km to the east and Block C is located a further ~7km to the southwest.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand-held RS-121 Scintillometer manufactured by Radiation Solutions. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.
Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK . Analysis will include a 63 element ICP-OES, and boron.
All depth measurements reported, including radioactivity and mineralization interval widths are down-hole, core interval measurements and true thickness are yet to be determined.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy , P.Geol. Chief Geologist and COO for Fission 3.0 Corp., a qualified person.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia . Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”
ON BEHALF OF THE BOARD
“Ross McElroy” ________________________
Ross McElroy , COO
Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements 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”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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.
Stocks crashed on Monday before surging back in dramatic fashion on Wednesday following Christmas. But the 1000-point run didn’t last long. The market sank dramatically again on Thursday before staging a late-session comeback in a swing that saw the Dow Jones Industrial Average span over 870 points for the day.
To put it mildly, it’s been a dramatic year for world markets. In all, $17 trillion worth of assets have been lost so far in 2018, a number that represents almost 20% of the world economy.
China’s stock market alone wiped out roughly $2.4 trillion in 2018 as of Thursday, the biggest loss since 2002. WHAT COMES NEXT IS ANYONE’S GUESS
Despite the roller-coaster ride, some investors still find room for optimism.
“We still think we’re in this secular bull market that’s going to be led by high growth companies in a low growth world. It’s stocks like Apple and Microsoft, you will get those losses back eventually,” said one trader to CNBC.
But natural resource investor Eric Sprott isn’t buying it.
“Are we surprised that stocks are going down? We shouldn’t be.” The renowned investor sat down recently with Craig Hemke of Sprott Moneyto discuss the market’s bumpy December performance and the outlook going forward.
“They were pumping it up and now they’re pricking it … The macro theory is totally playing out here. It looks like the Fed put is not there.” THE GREAT ECONOMIC FRAUD
Like a growing number of experts, Sprott believes the growth of the last 10 years, spurred by low interest rates and central bank bond purchases, will soon come to an abrupt halt.
“[T]he whole 2009 to 2018 was essentially a fraud created by the Fed, by doing things that no one in the history of the financial world had ever heard about before: printing money and having zero or negative interest rates.”
According to Sprott, the signs of trouble are already apparent.
“We’re going to have serious, serious underperformance of pensions funds this year … And they’re already underfunded.”
He also pointed to FedEx’s recent financial results as a warning of trouble ahead.
“[FedEx] basically said they all of a sudden, saw a marked decline in business … [T]hey see a declining trend going forward into 2019.
“So that is an ominous warning that things aren’t going well. Not that we need warnings because we see housing, we see autos, we see retail, we see bank stocks collapsing. We see transports in a bear market. We see bear markets all over the world.” THE BIG RUN IN GOLD STOCKS HAS STARTED
On, the bright side, Sprott believes the recent outperformance of gold and gold stocks is a good sign.
“[T]his reminds me of early 2016. There was a day … in 2016 when the golds stocks did the same thing. They went down 5% or 6% in the day and then boom, they hit bottom and they went up probably 100% in a very, very short time.”
“[T]he S&P and most of the averages are down in excess of 15% and gold stocks are up 15%. We’ve had a 30% over-performance in about three months.”
“You’re a portfolio manager. You’re being brutalized. Nothing is working except all of a sudden, the computer shows you, oh, gold is working. Gold stocks are working.” Click here for Eric Sprott’s full interview and transcript.
The post Eric Sprott: “Are We Surprised Stocks Are Going Down? We Shouldn’t Be.” appeared first on Sprott Media. Read in browser »
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.
Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any fund or account managed by Sprott. Any reference to a particular company is for illustrative purposes only and should not to be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any fund or account managed by Sprott will be invested.
Past performance does not guarantee future results. The views and opinions expressed herein are those of the author’s as of the date of this commentary, and are subject to change without notice. This information is for information purposes only and is not intended to be an offer or solicitation for the sale of any financial product or service or a recommendation or determination by Sprott Global Resource Investments Ltd. that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on the objectives of the investor, financial situation, investment horizon, and their particular needs. This information is not intended to provide financial, tax, legal, accounting or other professional advice since such advice always requires consideration of individual circumstances. The products discussed herein are not insured by the FDIC or any other governmental agency, are subject to risks, including a possible loss of the principal amount invested.
Generally, natural resources investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Natural resource investments are influenced by the price of underlying commodities like oil, gas, metals, coal, etc.; several of which trade on various exchanges and have price fluctuations based on short-term dynamics partly driven by demand/supply and also by investment flows. Natural resource investments tend to react more sensitively to global events and economic data than other sectors, whether it is a natural disaster like an earthquake, political upheaval in the Middle East or release of employment data in the U.S. Low priced securities can be very risky and may result in the loss of part or all of your investment. Because of significant volatility, large dealer spreads and very limited market liquidity, typically you will not be able to sell a low priced security immediately back to the dealer at the same price it sold the stock to you. In some cases, the stock may fall quickly in value. Investing in foreign markets may entail greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks. You should carefully consider whether trading in low priced and international securities is suitable for you in light of your circumstances and financial resources. Past performance is no guarantee of future returns. Sprott Global, entities that it controls, family, friends, employees, associates, and others may hold positions in the securities it recommends to clients, and may sell the same at any time.
On the First Day of Christmas my true love gave me a Partridge in aPear Tree. Fortunately, the partridge was resting in a pear tree in the Anadarko Basin at the STACK in central Oklahoma. That led me to look deeply into an Oil & Gas Company named Jericho Oil, which smartly bought prolific, enticing land packages when Oil was at its absolute lows. “Never Waste a Good Crisis”. Brian Williamson, a well-groomed CEO, heads up a very experienced field crew and boasts a very loyal, savvy investor following, who know Oil. Currently shares can be shrewdly purchased for JCO (Jericho Oil) at 43 cents which is nearly it’s 52-week low. Buy Low, Sell High!!! Oil will rebound!!!
On the Second Day of Christmas my true love gave to me 2 TurtleDoves. My good fortune led me to where they were nesting in a prospective, massive land package on Pamlico Ridge outside Hawthorne, Nevada. It is owned by Newrange Gold (NRG). Past results were outstanding and there is much anticipation from the recent drill program which was just completed. I therefore bought some shares of NRG at 15 cents. Top flight management and an extremely mining friendly jurisdiction in Nevada which includes close proximity to the needed infrastructure. Shares are very tightly help by management and insiders adds to the appeal and they are a top pick for 2019 !!!
On the Third Day of Christmas my true love gave to me 3 Turtle Doves. As luck would have it, they came from a bramble bush in Sycamore Canyon, Arizona. That led me to look into a company named ArizonaSilver Exploration (AZS). After some very encouraging grab samples, they are awaiting the eminent drill permits which will lead to an early Q-1 drill program. CEO & Geo, Greg Hahn has an excellent track record, the ultra-tight share structure (30 Million Shares) and consistent insider buying makes this an attractive buy at AZS – 8 cents.
On the Fourth Day of Christmas my true love gave to me 4 Calling Birds. It turns out the birds were nesting at a rapidly growing mining property, Kwanika owned by Serengeti Resources (SIR). They are awaiting a pre-feasibility study which should be awesome with the added fantastic drill results which were put to market in late 2018. This should really make 2019 an exciting time to own shares. CEO Dave Moore was a previous winner of Prospector of the Year and knows how and where to drill. Having a loyal and deep pocketed partner Daewoo, a mining giant from South Korea to foot the bills sure tamps down the risk. I bought some additional SIR shares at 17 cents today.
On the Fifth Day of Christmas my true love gave to me 5 Golden Rings. To my great fortune they were found in a shallow pond at a mine site named Goldboro, in Nova Scotia, owned by Anaconda Mining (ANX). The Goldboro Property has released some very encouraging drill results and will feed a super-efficient mill. They are awaiting more results of an ongoing aggressive drill program. They are guided by the real originator of the “Art of a Deal”, Jonathan Fitzgerald, who has some aces up his sleeve for 2019 and will be wheeling & dealing. I bought additional shares today of ANX for 22cents.
On the Sixth Day of Christmas my true love gave to me 6 Geese aLaying. As luck would have it the geese were resting on a mountain in Japan. It turns out the property is owned by Irving Resources (IRV) named after a beloved cat who hates mailman … but has taking a liking to the Geese. Go figure!!! The company is owned by a savvy, bundle of dynamite, Akiko Levinson, who is partnered with a GEO you might have heard of, none other than Quinton Hennigh. If you haven’t heard of him you have no business investing in Juniors. Literally everything “Q” touches turn into Gold. A very tight share structure and an upcoming drill program in the Omu Mine, that produced awesome amounts of Gold, bode great things for 2019. I purchased shares today of IRV for $1.80. In past years I made a killing with this dynamic duo with Gold Canyon Resources. I am anticipating history repeating itself in 2019.
On the Seventh Day of Christmas my true love gave to me 7 Swans aSwimming. Luckily for me they were floating in a lake on a property in Elko, Arizona. This property holds massive amounts of Vanadium. The CEO, of First Vanadium (FVAN) Paul Cowley wrangled the property from the previous owners when Vanadium was $3 a pound. Now this “in vogue mineral” which strengthens steel and powers batteries presently commands $26 a pound. A soon to be released Pre-Feasibility Study promises exciting things in 2019. A very tight share structure adds to the allure. I purchased shares today of FVAN at 77 cents. On the Eighth Day of Christmas my true love gave to me, 8 Maids aMilking. To my chagrin turns out the old bats were stumbling drunk and passed out in a mine owned by McEwen Mining (MUX). For those who don’t know CEO Rob McEwen, he is past leader of Goldcorp who went on to found this emerging powerhouse. Rob takes only a Dollar a year in salary, so he makes money only if the share price performs. I am expecting big things from this company when the Gold price shoots up. Shares today of MUX can be had for $1.79, a recent financing closed at $2.25 …only Rob can pull that off. His past successes bode well for future fortunes to be made in 2019. McEwen owns some excellent properties in some of the most mining friendly countries in the World.
On the Ninth Day of Christmas my true love gave to me 9 LadiesDancing. Turns out they were dancing as they got into the spiked punch provided by 10 Lords. They stumbled upon a nice prospective piece of land in B.C. owned by Black Tusk Resources. A young management team known as “Da Boyz”, led by Richard Penn, who truly understands how to market, promote and raise capital. With only 20 Million shares outstanding and awaiting the results of a channel & sampling program from the old Slocum Mining District, TUSKis a sleeper at 22 cents.
On the Tenth Day of Christmas my true love gave to me 10 Lords aLeaping. As happen stance would have it, these guys came across the same spiked punch and passed out in pit located in the Dominican Republic. Fortunately, this property is owned by Precipitate Gold (PRG)and with the government waking up again to how important and crucial mining is for their economy. This makes the very nice prospective land package that CEO Jeff Wilson amassed adjacent to Barrick, seem like a game changer. The Dominican has been known to hold some epic Gold pockets and this sleeper, PRG can be had for 12 cents.
On the Eleventh Day of Christmas my true love gave to me 11 PipersPiping. It seems they got hold of some spoiled eggnog and needed to rest and landed in pit in Guyana, South America. As fortune would have it, it is owned and operated by Sandspring Resources (SSP). With 10.4 Million ounces of Gold and being situated in an English speaking, very mining friendly jurisdiction along with some deep pocketed partners, this optionally play makes SSP an attractive purchase at 21 cents
On the Twelfth Day of Christmas my true love gave to me 12 DrummersDrumming. These guys it turns out got some moldy fruit cake from last year and they needed a place to rest and recoup in Chihauhau,Mexico on the property of Golden Goliath(GNG). CEO Paul Sorbara acquired this land over 30 years ago, he has recently sold similar property to Fresnillo and now has close to $2 million to drill. A land package that he has been hoping and waiting to drill for a long time. This sleeper company GNG can be had for 2 cents – (yes you read it right – 2 cents). I would like to say, Merry Christmas from my family to yours. While 2018 has been a horrible for Junior Resource stocks, I believe 2019 will be the year when it all comes together. The price of Gold is closing in on on $1,270 and finally many key technical factors will kick in. Then certainly Gold will get some much needed and welcome wind in its sails. I can’t stress enough how fast and furious these Junior Miners canexplode when the stars line up.The good Lord knows we have been waiting a long time and we will see the fruits of our patience rewarded bountifully in 2019. Mark my Words !!!
My website www.kdblueskymarketing.com hopefully will be a go to place for mining news and companies that I sniff out which are unloved, under-valued and prime for take-off in 2019.
In the 12 days of Christmas I have attempted to introduce some of the companies I believe in. I feel they are very under valued at this time. Some are sponsors of my website and hopefully, some will consider partnering with me to get the word out to a segment of the market which needs attention, support and most of all respect.
Kevin Dougan is an investor and close follower of the Junior Resource sector. I attend several trade shows a year and network and share info with some of the sharpest minds in the business. I AN NOT A FINANCIAL ADVISER. Please consult you own financial adviser when making investment decisions. If you would like to subscribe to my monthly FREE newsletter it is available on my home page at www.kdblueskymarketing.com
A Special Invitation…
Dear Reader,
I’d like to introduce you to Carl Delfeld and his Alquimista Group – a specialist in expeditions in Asia and emerging markets that combines private, small, custom travel to fascinating destinations with education about investment opportunities in these markets.
I enjoyed working with Carl during an Oxford Club trip to Southeast Asia. He has a great background with Cabot Wealth, Forbes Asia, the U.S. Treasury and State Departments and First Bank Boston.
Cordially,
Barbara Perriello, Director
Opportunity Travel Where We’re Headed Next
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Opportunity Travel’s
Southeast Asia Tour to Thailand & Malaysia
February 24-March 3, 2019 Post-Tour Following International Living’s 2019 Fast Track Your Retirement Overseas Conference Bangkok, Thailand – February 21-23
Since we’ll be right here in beautiful Bangkok for the IL conference, we’ve designed an exclusive, fun-filled post conference tour that’s a first class, luxurious journey. You’ll get a chance to see firsthand why travelers and expats alike simply love everything about Thailand and Malaysia. Get full detailsabout this exclusive expedition and guarantee yourself a spot – but you’ll have to act fast, only 20 spaces are available. Call me at 800 926 6575 or +561 243 6276, or email atinfo@opportunity-travel.com.
The Oxford Club’s 21st Annual Investment U Conference
March 28-31, 2019 – The Vinoy Renaissance Resort
Every spring, The Oxford Club hosts its biggest event of the year –the Annual Investment U Conference. For this signature event, we spare no expense to bring you the latest and greatest from the investing world as well as a real no-nonsense look into the markets.
Throughout this event, you’ll discover dozens of profitable ideas from our team of expert analysts, as well as investment insights from more than two dozen of the industry’s top economists and investment minds.
Join us as we celebrate more than two decades of success and tremendous profit opportunities brought to life through this premier event. Year-after-year – we’ve seen the ideas shared here soar to great heights and we are thrilled to see what’s in store next.
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Money Map Press presents… The Black Diamond Conference Delray Beach Marriott – April 4-6, 2019
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Sprott Natural Resource Symposium 2019 Fairmont Hotel Vancouver – July 30-August 2, 2019 Plan your 2019 vacation now – we’ll be happy to help you!
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Uruguay & Argentina – November 2019 Opportunity Travel’s South America Expedition Call now to get your name on the list!
One of our most popular tours! Come November 2019 and once again we’ll be heading south to Uruguay and Argentina where we’ll show you so much more than the wonders these countries are known for. We’d love to have you join us!
Tantalizing wines, fabulous farm to table dining and sensuous tango are just a small snippet of what we have in store. Add to that our unique brand of personal service, luxury hotels and “boots on the ground” experts. Find out for yourself why our past attendees return again and again.
Call now to get your name on the list – 1-800-926-6575 or +561-243-6276, OR send us an email at info@opportunity-travel.comFor more information about our tours or conferences, please contact, Barbara Perriello or Michelle Sedita at Opportunity Travel by email atinfo@opportunity-travel.comor by phone at +561.243.6276 or toll-free at +800.926.6575.
Disclaimer: Nothing in this e-mail should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investment advice. In the interest of full disclosure: Opportunity Travel may receive commissions from any property sales made during any of its trips. And, as a travel agency, we often receive a commission from hotels when we book rooms for our tours and conferences.
Photo Source: The Federal Reserve
Federal Reserve Chairman Jerome Powell spoke and the market didn’t like what it heard.
“Powell basically told you the Fed put is dead,” was hedge fund titan David Tepper’s assessment of the chairman’s prepared remarks delivered on Wednesday, following the Fed’s scheduled two-day policy meeting.
“Everything is tight. Chinese money growth is plummeting. ECB cutting the last of QE. And Fed still in tightening mode.”
True, monetary conditions are tightening. But are the days of the proverbial Fed put — the Fed’s tacit commitment to support stock prices with easy money in times of turmoil — really over?
Hard to believe. MARKET SELLOFF
Equity markets were calm, even optimistic, going into this week’s policy announcement. However, sentiment changed abruptly on Wednesday following Powell’s announcement of a 25 basis point increase in the Federal Funds Rate, with two additional hikes planned for 2019.
The selloff continued through the rest of the week with the Dow Jones Industrial Average losing over 500 points on Thursday to reach a 14-month low. The NASDAQ entered bear market territory, dropping to 6333 on Friday. The Dow Jones Industrial Average and the S&P 500 monthly performance reached the worst point since October 2008, with the latter on pace for the worst December since 1931.
The losses extended to crude oil, which slipped 4.8% on Thursday to $45.88, a 17-month low.
The stock volatility and weakening dollar boosted precious metals. Spot gold jumped over 1% on Thursday to reach its highest price since July. Silver also rose, hitting a high of $14.82 per ounce, before falling back on Friday to $14.68. THEY HAVE NO EMPATHY
No shortage of criticism has followed Wednesday’s decision. The Fed’s change in direction, though dovish on the surface, was clearly not dovish enough to please critics, such as DoubleLine’s Jeffrey Gundlach, who criticized Powell’s robotic approach to unwinding the central bank’s balance sheet.
Jay Powell made two mistakes today at the presser:
1.) Autopilot QT
2.) Too much talk about economic “modeling”
The stock bear growls on.
— Jeffrey Gundlach (@TruthGundlach) December 20, 2018
Tepper also raised the balance sheet unwind as a key concern.
“The net biggest issuance of Treasuries and worldwide fixed income is coming next year. Something is going to get crowded out. Bonds stocks etc.”
James Bianco, president of Bianco Research, believes two rate hikes in 2019 is too many.
“The market was pricing in less than one rate hike for next year … the Fed, in September, was at three. They came down from three to two.”
“So, it was not dovish enough for the market on the initial reaction.”
Jim Cramer of CNBC was measured in his response, at least in comparison to his infamous 2007 on-air rant.
“The Fed is perfectly happy to gradually strangle the economy, the U.S. economy, in order to stamp out inflation, or the potential of inflation. And that’s bad news for corporate earnings.”
“Powell’s the one who’s wrong. His apologists have no sense of empathy for what’s about to happen to the working man.”
“[Janet Yellen] would have been a lot more prudent and a lot less reckless with these plans.”
But what Cramer believes is going to happen to the working man has already happened. THE BIG INFLATIONARY LIE
Cramer believes that by removing the punch bowl just as wage rates are showing signs of rising, Powell is delivering a blow to the average worker. What he doesn’t understand is this damage was done long ago by people, such as Yellen, who are long gone.
Low interest rates benefit those who can borrow. Central bank asset purchases benefit those who own assets.
Neither policy benefits the poor paycheck-to-paycheck employee.
And since accommodative action by the central bank only raises wages after asset prices have already responded, the average person is far too late to the inflationary party to capitalize — they are last to the monetary buffet.
Yet, the experts insist the easy money policy is beneficial, even essential. THE ‘STRONG ECONOMY’ MYTH
Economists want us to believe that all is fine — the economy is strong.
In Powell’s assessment, the economy has performed well in recent months while inflation remains low and stable. As economic growth continues, he expects wages to rise gradually and welcomes the trend. And, although some economic cross-currents exist, the Fed is confident in continuing its rate hiking exercise, albeit at a reduced rate.
Yet, despite his optimism, a wild presidential tweet or disappointing Fed policy statement is all it takes to send markets tumbling.
Something doesn’t add up. THE FED PUT IS HERE TO STAY
Despite the Fed chairman’s tough talk and the market’s mini-tantrum, nothing has really changed. True, the Fed’s policy options are fewer than in prior years — it surely cannot waste policy bullets on every garden variety 500-point decline. Nevertheless, trust that when (not if) things get really bad, Powell and his cohorts will be back with their easy money — the only cure they know.
The put is not dead. The real question is: Will it work again? Read in browser »
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.
Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any fund or account managed by Sprott. Any reference to a particular company is for illustrative purposes only and should not to be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any fund or account managed by Sprott will be invested.
Past performance does not guarantee future results. The views and opinions expressed herein are those of the author’s as of the date of this commentary, and are subject to change without notice. This information is for information purposes only and is not intended to be an offer or solicitation for the sale of any financial product or service or a recommendation or determination by Sprott Global Resource Investments Ltd. that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on the objectives of the investor, financial situation, investment horizon, and their particular needs. This information is not intended to provide financial, tax, legal, accounting or other professional advice since such advice always requires consideration of individual circumstances. The products discussed herein are not insured by the FDIC or any other governmental agency, are subject to risks, including a possible loss of the principal amount invested.
Generally, natural resources investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Natural resource investments are influenced by the price of underlying commodities like oil, gas, metals, coal, etc.; several of which trade on various exchanges and have price fluctuations based on short-term dynamics partly driven by demand/supply and also by investment flows. Natural resource investments tend to react more sensitively to global events and economic data than other sectors, whether it is a natural disaster like an earthquake, political upheaval in the Middle East or release of employment data in the U.S. Low priced securities can be very risky and may result in the loss of part or all of your investment. Because of significant volatility, large dealer spreads and very limited market liquidity, typically you will not be able to sell a low priced security immediately back to the dealer at the same price it sold the stock to you. In some cases, the stock may fall quickly in value. Investing in foreign markets may entail greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks. You should carefully consider whether trading in low priced and international securities is suitable for you in light of your circumstances and financial resources. Past performance is no guarantee of future returns. Sprott Global, entities that it controls, family, friends, employees, associates, and others may hold positions in the securities it recommends to clients, and may sell the same at any time.
Dec 19, 2018 04:40 pm
By Trey Reik, Senior Portfolio Manager, Sprott Asset Management USA, Inc.
As we enter the holiday season, we close out our review of fundamentals suggesting Fed tightening is nearing completion. Our contention remains that the Federal Reserve’s dual policy agenda of simultaneous rate hikes and balance sheet reduction is crimping global dollar liquidity to the significant peril of reigning financial asset valuations. In our November report, we examined the Fed’s concern over deteriorating underwriting standards amid runaway corporate borrowing. In this letter, we provide a brief update on recent developments in leveraged lending, and then turn our attention to a critical economic sector being pressured by Fed rate hikes: U.S. residential housing. We look forward to circulating, in mid-January, a comprehensive update on gold’s prospects for 2019 and beyond.
Leveraged Mayhem
We have made the case that Fed tightening is already destabilizing the most vulnerable segments of the corporate borrowing spectrum. In a cruel irony of a central bank-dependent financial system, growing recognition that Fed rate hikes are winding down is pressuring the $1.3 trillion leveraged loan market. During recent years, the inferior pedigree of leveraged borrowers has offered intrepid investors the perceived protection of floating interest rates. As the Fed has tightened, leveraged loan yields have risen in concert — sweet! Now that probabilities for 2019 rate hikes are plummeting, logic would suggest prospects for the most challenged of corporate credits should actually be improving. Counterintuitively, however, yield-manic investors, sensing evaporating floating-rate protection, are abandoning the leveraged-loan ship at alarming rates. Figure 1: S&P/LSTA Leveraged Loan Price Index (December 31, 2016 – December 16, 2018). Source: Bloomberg.
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 collectivelyas “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.
Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any fund or account managed by Sprott. Any reference to a particular company is for illustrative purposes only and should not to be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any fund or account managed by Sprott will be invested.
Past performance does not guarantee future results. The views and opinions expressed herein are those of the author’s as of the date of this commentary, and are subject to change without notice. This information is for information purposes only and is not intended to be an offer or solicitation for the sale of any financial product or service or a recommendation or determination by Sprott Global Resource Investments Ltd. that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on the objectives of the investor, financial situation, investment horizon, and their particular needs. This information is not intended to provide financial, tax, legal, accounting or other professional advice since such advice always requires consideration of individual circumstances. The products discussed herein are not insured by the FDIC or any other governmental agency, are subject to risks, including a possible loss of the principal amount invested.
Generally, natural resources investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Natural resource investments are influenced by the price of underlying commodities like oil, gas, metals, coal, etc.; several of which trade on various exchanges and have price fluctuations based on short-term dynamics partly driven by demand/supply and also by investment flows. Natural resource investments tend to react more sensitively to global events and economic data than other sectors, whether it is a natural disaster like an earthquake, political upheaval in the Middle East or release of employment data in the U.S. Low priced securities can be very risky and may result in the loss of part or all of your investment. Because of significant volatility, large dealer spreads and very limited market liquidity, typically you will not be able to sell a low priced security immediatelyback to the dealer at the same price it sold the stock to you. In some cases, the stock may fall quickly in value. Investing in foreign markets may entail greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks. You should carefully consider whether trading in low priced and international securities is suitable for you in light of your circumstances and financial resources. Past performance is no guarantee of future returns. Sprott Global, entities that it controls, family, friends, employees, associates, and others may hold positions in the securities it recommends to clients, and may sell the same at any time.
Initial work program at Prinsep returns a grab sample of 8 g/t gold
Unconstrained gold in soil anomalies at the Eagle and Hawk prospects
Crow area returns anomalous gold and copper values
VANCOUVER , Dec. 18, 2018 /CNW/ – NxGold Ltd.(“NxGold” or the “Company“), (TSXV: NXN) is pleased to provide additional results from its most recently completed field program at the Mt. Roe Project located in the Pilbara region of Western Australia . Results are now available from gridded soil sampling and prospecting samples from follow-up work on anomalous stream sediment samples as part of the continuing systematic approach to target area identification and drill target refinement at Mt Roe. Results from an initial program at Prinsep are also available. On-going metal detecting work has also identified additional nuggets consistent with our targeting approach. Prinsep
A total of 7 stream sediment samples were collected and a soil grid with 80 m line spacing and 80 m sample spacing was taken for a collection of 60 samples. This was an initial work program focused on historical areas worked by prospectors using metal detectors. No significant stream sample values were returned. Soil sample results ranged from detection limit to a high of 180 parts per billion (“ppb”) gold, with areas of weak base metal and silver anomalies. However, eleven selective rock grab samples were collected which returned values from detection limit to 8.6 g/t Au. Expanded soil grids and additional prospecting is required to better understand the controls on mineralisation at Prinsep. Eagle Area
Soil sampling (86 samples) has defined a possible intersection of a north-northwest trending feature and a northeast trending feature associated with the core of the magnetic high feature previously identified. The anomalous zone is approximately 500 m long and varies from 60 m to 120 m in width and may explain only a small portion of the +1.2 km long section of anomalous stream samples previously reported. The soil samples returned gold values ranging from detection limit to 244 ppb goldwith the anomalous zone defined by values greater than the 80th percentile value (17 ppb gold). The anomalous zone is not constrained to the north or southwest. Expanding the soils lines to the northwest and southwest in an effort to identify the ultimate extents of anomaly along with selective infill sampling to better define the core anomaly may be included as part of the next field program. Hawk Area
Soil sampling (26 samples) has identified a roughly 100 m by 300 m anomalous area that is still open to the northwest and southwest. The soil samples returned gold values ranging from detection limit to 828 ppb gold with the anomalous zone defined by values greater than the 80th percentile value (17 ppb gold). This anomalous zone explains the previously reported highly anomalous stream sediment samples. Next steps for this area include adding additional soils lines to close off the soil anomaly to the northeast, southeast and southwest and detailed prospecting and sampling of surface exposures. Crow Area
Following up on anomalous stream samples, three rock grab samples were collected from sub-cropping vein material and float vein material. These samples returned anomalous gold, copper, and silver values as presented in the table below and may explain the single high value stream sample previously reported from this area.
Sample
Prospect
Au g/t
Ag g/t
Cu %
Description
2311
Crow
0.01
0.025
0.0023
veins amygdaloidal basalt with coarse epidote.
2312
Crow
0.36
34.4
2.597
vein breccia, chalcopyrite, chalcocite, malachite and limonite.
2313
Crow
1.29
26.8
2.521
Float vein breccia, chalcopyrite, chalcocite, malachite and limonite, 40 cm wide.
Additional prospecting and a detailed soil grid program will assist in further identifying a target in this area. Swan Area
Soil sampling (27 samples) has identified a roughly 100 m by 300 m anomalous area that is still open to the northeast and southwest; additionally, a single sample on the edge of the grid indicates the potential for a second soil anomaly to the west of the Swan Area which could correspond to a previously reported anomalous stream sample. The soil samples returned gold values ranging from detection limit to 152 ppb gold with the anomalous zone defined by values greater than the 80thpercentile value (17 ppb gold). This anomalous zone explains the previously reported highly anomalous stream sediment samples. Next steps may include additional soil lines to the northeast and west to identify the extents of the current soil anomalies, trenching across the known Swan Area structure on strike from previous trenching or scout drilling across and at depth of the known auriferous structure. Christopher McFadden , Chief Executive Officer commented, “It is pleasing that in a relatively short period of time our team has evaluated the property for different mineralisation styles and advanced to the drill target delineation stage through the systematic exploration of the Mt Roe tenements. This systematic approach will also be used to evaluate the Prinsep tenements which are showing interesting targets and the newly granted tenements at Mt. Roe.”
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. About NxGold
NxGold is a Vancouver-based exploration company. The Company owns 80% of the Mt. Roe gold project located in the Pilbara region of Western Australia. The Company has also entered into an earn-in agreement with Meliadine Gold Ltd. to earn up to a 70% interest in the Kuulu Project (formerly known as the Peter Lake Gold Project) in Nunavut . Technical Disclosure
The on-going sampling programs of stream sediments, soils, rocks and chip samples involve a quality assurance and quality control (QA/QC) program that includes the collection of field duplicates and insertion of certified reference materials at frequency of roughly one in ten samples. Rock samples, stream samples and some chip samples are selective in nature and are not representative of mineralisation on the property. All samples have been sent to Intertek Genalysis in Perth , WA for preparation and analysis. Rock and chip samples were analysed using a 50g fire assay for gold and a 10g aqua regia, 32-element inductively coupled plasma optical emission spectroscopy (‘ICP-OES’). Samples with visible gold or returning >10 g/t gold by fire assay are subject to a screen fire assay analysis. Stream sediment samples were analysed using 1000g bulk leach extractable gold analysis with Leachwell accelerant followed by ICP-MS with a 10g sample split for aqua regia 32 element ICP-OES analyses.
Stream samples were field screened fine fraction (minus 80 mesh) with a collected mass of 10-12kgs. Soil samples were field screened to minus 4mm with a collected mass of approximately 4kg. All samples were split by a two-tier riffle splitter in a secure storage facility into a laboratory sample and a retained reference sample.
Surface material was scraped away, followed by loosening of material with a prospector’s pick and lifting the material onto a sieve screen with a plastic scoop. Samples where sieved down in the field to minus 4 mm, directly into a sample bag. 4 kg of sieved material was collected for each sample. Sample depths went down to approximately 25 cm at each site. Samples were sealed in a cloth bag until split by a two-tier riffle splitter in a secure storage facility. Locations of each sample were recorded by a handheld GPS.
NxGold advises that the Mt Roe Gold project is an early stage exploration project utilising an evolving gold deposit model for a paleo-placer style of mineralisation. Abundant exploration work is required to understand the previously unrecognised sedimentary geology and confirm if the source(s) of the coarse gold is located within NxGold Ltd.’s tenements. There is no certainty of the discovery nor definition of a mineral resource.
The scientific and technical information in this news release has been prepared or approved by Darren Lindsay , P.Geo., Vice President Exploration and Development, of the Company, a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Cautionary Statement Regarding “Forward-Looking” Information This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including whether the proposed acquisition will be completed. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof 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” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including among others, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by 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 forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
What started as a strong week for U.S. equities ended with losses, as disappointing economic data from China and Europe pushed global equities down on Friday.
The Dow Jones Industrial Average closed down by nearly 500 points on Friday.
Numbers reflecting China’s industrial output and retail sales growth missed expectations. The news sent Asian equities tumbling overnight. PMI data out of Europe also disappointed. The IHS Markit Flash Eurozone PMI index fell to its lowest level in four years.
The news helped push European stocks, measured by the Stoxx 600, lower by 0.3%.
The move down in U.S. stocks erased gains for the week with small cap stocks among the hardest hit. Small caps, as measured by the Russell 2000 Index, have lost roughly 17% over the last 3 months. Meanwhile, the large cap S&P 500 index lost 9% over the same period. STOCK UP ON LIQUIDITY: CREDIT DEFAULT CYCLE COMING
The recent volatility has driven some investors to seek shelter in instruments with higher liquidity. In particular, Pimco Chief Investment Officer Dan Ivascyn told Bloomberg Radio that investors should consider stocking up on lower-risk, liquid assets to defend against rising volatility and widening credit spreads.
“The credit markets, particularly the non-financial segments of the corporate credit markets, are where we see the most long-term risks.”
Ivascyn cites the tremendous amount of issuance over the last decade and a steady deterioration in underwriting standards as key concerns.
“If I was allowed one piece of research, and one piece only, a pretty good piece of research would be to look at issuance versus history. I think when you look at leveraged loans — you look at other segments of the corporate credit universe — issuance is very, very high.”
In addition to leveraged loans, Ivascyn drew attention to the prevalence of CLOs, collateralized loan obligations.
“Looking at total outstandings in the CLO market … total issuance today is pretty darn close to max outstanding [of] ABS CDOs prior to the financial crisis.”
While Ivascyn stops short of equating the magnitude of today’s CLO risk to that experienced prior to 2008, he suspects the situation has created substantial risk for down-side overshooting of fundamentals.
“Many of the participants in these markets have never gone through a default cycle. So, we’re cautious.”
In addition to raising liquidity, Ivascyn recommends investors save cash for opportunities ahead.
“You want to be nimble. You want to be flexible. You want to be liquid … That involves a lot of patience.” BANK STOCKS UNDERPERFORM
Small cap stocks are not the only victims of recent volatility. Bank stocks, particularly regional bank stocks, have also suffered. The KBW Regional Banking Index is down nearly 17% this year, which indicates to some that investors fear a recession is near.
Morgan Stanley Analyst Ken Zerbe wrote recently, “We cannot ignore the growing risk of a bear credit market next year preceding a recession as well as the negative impact of weaker economic growth [on credit quality and as a driver of slower loan growth].”
“The carefree days of rising rates and pristine credit quality could be coming to an end.” DEPRESSION COMING WITHIN THE NEXT 12 MONTHS
Former Congressman and presidential candidate Ron Paul pulled no punches in his recent interview on CNBC Futures Now. Paul made a strong case for the onset of depression-like conditions soon.
“I think it’s a very vulnerable position because when markets are destined to make big corrections … they don’t do it from the top, they do it from 10-15% down. So, we’re at that position.”
Citing economic problems ranging from artificially low interest rates and ballooning central bank balance sheets to trade tariffs, the former congressman stressed that understanding the conditions that caused the bubble is more important than identifying the pin that will eventually pop it.
“The precipitating factor will be that black swan — it’s coming. The situation is ready for it. It’s very precarious — the debt is too much, all the malinvestment is there.”
“You need a precipitating factor like Lehman Brothers …. But it might not be just an ordinary old-fashioned bank run … It could be international, it could be related to this tariff war we have going on.”
When asked if there was anything President Trump and Federal Reserve Chairman Powell could do to avoid the day of reckoning, his answer was clear.
“No … They actually believe they can find the neutral rate of interest. It’s a total fallacy. Nobody knows what that is … I’m predicting that they can’t solve this problem that is coming because interest rates are too low and they don’t have any room … they will go back to QE and they’ll pass out the money.”
How bad will it be?
“There’s no sign that it’s going to be mild … I think that it could be worse than 1929.” Read in browser »
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.
Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any fund or account managed by Sprott. Any reference to a particular company is for illustrative purposes only and should not to be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any fund or account managed by Sprott will be invested.
Past performance does not guarantee future results. The views and opinions expressed herein are those of the author’s as of the date of this commentary, and are subject to change without notice. This information is for information purposes only and is not intended to be an offer or solicitation for the sale of any financial product or service or a recommendation or determination by Sprott Global Resource Investments Ltd. that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on the objectives of the investor, financial situation, investment horizon, and their particular needs. This information is not intended to provide financial, tax, legal, accounting or other professional advice since such advice always requires consideration of individual circumstances. The products discussed herein are not insured by the FDIC or any other governmental agency, are subject to risks, including a possible loss of the principal amount invested.
Generally, natural resources investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Natural resource investments are influenced by the price of underlying commodities like oil, gas, metals, coal, etc.; several of which trade on various exchanges and have price fluctuations based on short-term dynamics partly driven by demand/supply and also by investment flows. Natural resource investments tend to react more sensitively to global events and economic data than other sectors, whether it is a natural disaster like an earthquake, political upheaval in the Middle East or release of employment data in the U.S. Low priced securities can be very risky and may result in the loss of part or all of your investment. Because of significant volatility, large dealer spreads and very limited market liquidity, typically you will not be able to sell a low priced security immediately back to the dealer at the same price it sold the stock to you. In some cases, the stock may fall quickly in value. Investing in foreign markets may entail greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks. You should carefully consider whether trading in low priced and international securities is suitable for you in light of your circumstances and financial resources. Past performance is no guarantee of future returns. Sprott Global, entities that it controls, family, friends, employees, associates, and others may hold positions in the securities it recommends to clients, and may sell the same at any time.
I love when someone asks me, “I’ve been learning about investing in XYZ. How do I know if that is right for me?” It means they are thinking about their wealth strategy.
All too often I see people jumping into investments without a wealth strategy in place. It’s the wealth strategy that answers the question about whether an investment is right for you.
When it comes to building wealth, one size does not fit all.
Making your wealth strategy your own is essential to its success.
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Here are 3 areas that are most impacted by you in your wealth strategy:
#1 Where You Are Today
Where you are today is unique to you and directly impacts what you should do in your wealth strategy.
Where you are today includes:
Your income
Your expenses – including your taxes
Your assets
Your liabilities
It’s impossible to get to where you are going if you don’t know your starting point. And, how you get to where you are going is heavily influenced by your starting point – which is where you are today.
For example, someone whose main source of income is from a job needs a different path to achieve their wealth goals than someone whose main source of income is from a business.
Or, someone who has a large tax liability needs a different path to achieve their wealth goals than someone who currently has no tax liability.
Everyone can achieve their wealth goals – they just need different paths to get there. They need to customize their wealth strategy to their current situation.
Your wealth strategy is all about your wealth dream.
Your wealth dream is your picture of your ultimate lifestyle. Where do you live? How do you spend your time?
Now, we can all close our eyes for a few seconds and imagine the lifestyle of our dreams. But to truly define your wealth dream means being very detailed and specific – in other words, making it your own.
With your wealth dream, you can analyze an investment in a different way – what is that investment going to do to get you from where you are today to where you want to be.
The more detailed and specific your wealth dream is to you, the more likely it is to be reached. As your wealth dream gets clearer, so does the path to get there.
#3 Your Personal Role
To successfully navigate from where you are today to where you want to be, you must maximize your personal role in your wealth strategy.
Since our time is limited to just 24 hours a day, it is important to maximize the results of our personal efforts. To get the best results from our personal efforts, it is vital that we not only enjoy what we are doing but that it is something we are excited to do.
For example, say Person A invests in XYZ and loves it and Person B invests in the exact same thing and hates it.
Who do you think will be more successful?
What’s really happening here is Person A loves their role so it gives them energy while Person B doesn’t like their role so it drains their energy.
When your personal role in your wealth strategy is something you love to do, your success rate goes up – not just in terms of achieving your wealth goals, but also in terms of how quickly you achieve your wealth goals.
It’s Your Wealth Strategy
Nobody cares more about building your wealth than you. This is why making your wealth strategy your own is critical to its success.
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To ensure compliance with requirements imposed by the IRS, we inform you that any US federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and it cannot be used for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. If you are not the original addressee of this communication, you should seek advice based on your particular circumstances from an independent advisor.
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On the Eighth Day of Christmas my true love gave to me, 8 Maids a Milking. To my chagrin turns out the old bats were stumbling drunk and passed out in a mine owned by McEwen Mining (MUX). For those who don’t know CEO Rob McEwen, he is past leader of Goldcorp who went on to found this emerging powerhouse. Rob takes only a Dollar a year in salary, so he makes money only if the share price performs. I am expecting big things from this company when the Gold price shoots up. Shares today of MUX can be had for $1.79, a recent financing closed at $2.25 …only Rob can pull that off. His past successes bode well for future fortunes to be made in 2019. McEwen owns some excellent properties in some of the most mining friendly countries in the World.
