Category: Precious Metals

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Precious Metals

MILES FRANKLIN | Will Silver Shorts End Up Like ShortSellers.com?

Chris Marcus-Contributing Writer For Miles Franklin
Will Silver Shorts End Up Like ShortSellers.com?
Written by Chris Marcus of Miles Franklin
Last week a fund called OptionSellers.com blew up. Primarily because they aggressively shorted an asset and left themselves with virtually unlimited risk. Which when the market moved against them, not only wiped out all of their capital. But left some customers actually even owing additional money.
Which is worthwhile to take note of for those involved in the silver market. Where there is an unbacked paper short position that cannot be covered with physical metal. And has left many exposed to an outcome potentially quite similar to what the investors of the OptionSellers.com fund just experienced.
For a long time it was the bullion banks that owned the majority of the short position. Although in recent years that has amazingly been unwound, and passed off to the technical hedge funds that now own it. Which means that the investors of these funds are short an asset with virtually unlimited upside whenever the paper vs. physical imbalance is resolved.
Will Silver Shorts End Up Like ShortSellers com
Now being short silver at $14 simply because the 50 or 200 day moving average moved lower never really struck me as a significant enough reason to be short. Especially when the supply and demand fundamentals indicating an eventual move to the upside remain so pronounced. Now even more so following the recent news that J.P. Morgan traders have indeed been manipulating the market, with further attention being placed on the case.
As a result, the conditions for the short squeeze of a lifetime are in place. Which means that at the same time silver is rising, these funds are going to have to buy back their position. But from who? Certainly after the banks have gone to all of the effort of unwinding their short position and now getting long, it’s hard to imagine them letting the hedge funds off the hook easily.
And this is one of the dangers of being short any asset. Because every night you go to sleep with virtually unlimited risk. Which in this case I’m guessing most of the investors in these funds don’t even realize they are exposed to.
As a former equity options market maker on the New York Stock Exchange, I’m well familiar with the risks of being short. Especially being short options. Which is not to say that there are not appropriate times to short an asset, but rather that it’s darn well worth being aware of the risk. Especially now as the investors of the OptionSellers.com fund found out that they can lose even more than their original investment.
While investing in precious metals, and silver in particular over the past decade has not been the easiest and most rewarding experience, it has been one of the more fascinating financial events to follow along.
Especially now as the rumors of manipulation are being increasingly documented and supported by legal confessions and guilty pleas. Indicating that those who have explained the pricing as being distorted by manipulation have turned out to be correct. And with those who were correct on that matter also continuing to reiterate that prices at some point are simply going to have to rise.
If you are invested in one of these funds that is short silver, I would highly recommend taking a look at this report that explains why the price of silver is set to explode. Because outside of the technical funds reacting to the moving averages, I haven’t even heard of anyone attempting to make a case for why silver would go much lower from here (if you have, or if you have any questions about this article or the market, please email me here).
So given all of the factors indicating why at some point the price will almost necessarily have to rise, pulling your money out of a fund that is short silver and getting long yourself (much like the banks controlling the action have done) remains a timely way of avoiding Wall Street’s latest upcoming debacle.
While also keeping your money safe and taking advantage of the eventual resolution of this glaring market imbalance.
-To buy or sell gold and silver call Miles Franklin today at (1-800-822-8080).
-Or get Miles Franklin’s detailed report on why the price of silver is set to explode.
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Miles Franklin was founded in January, 1990 by David MILES Schectman. David’s son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin’s primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
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Precious Metals

JUNIOR MINING | Great Bear Reports Continuity of Gold from Surface to 365 m Depth in Dixie Limb Zone, Dixie Project, Red Lake District

Vancouver, British Columbia–(Newsfile Corp. – November 29, 2018) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”, TSX-V: GBR) today reported results from drilling of the Dixie Limb Zone (“DLZ”) completed during the Company’s summer 2018 drill program, and designed to test continuity of gold mineralization to depth. The DLZ is a multi-kilometre gold-mineralized contact that is located north of Great Bear’s recent high grade gold discoveries at the Hinge and South Limb Zones, and was the target of most historical drilling.

Great Bear also reports that 15 additional drill holes have now been completed in the Hinge and South Limb Zones (“SLZ”). Results are expected in one to two weeks and are not included in this news release.

Great Bear has systematically surveyed 108 historical drill collars and completed gyroscopic downhole surveys of 66 historical drill holes within the DLZ to-date. Results indicate many historical holes were mis-located, with maximum deviations approaching 100 metres, and historical drill directions deviated significantly from plan due to magnetic host rocks. These errors led to incorrect historical interpretations including that gold mineralization in the DLZ occurred in en-echelon lens-like zones lacking vertical continuity.

The Company tested vertical continuity of the DLZ’s gold mineralization with a series of 9 drill holes from 26 metres to 365 metres depth. All holes tested areas previously interpreted as unmineralized and cited as lacking geological continuity. All holes successfully intersected gold mineralization.

Highlights of the latest 9 drill holes testing the DLZ include:

  • Intercepts of 6.71 g/t gold over 3.10 metres and 6.16 g/t gold over 2.30 metres, establishing continuity of gold mineralization into areas previously deemed to be unmineralized
  • DLZ mineralization generally increases in thickness and gold grade with depth
  • Intervals of higher grades (>6 g/t gold) were intersected in 5 of the 9 holes
  • A newly identified parallel mineralized zone was intersected in one of the two deepest holes at 307 metres vertical depth in drill hole DL-031

Chris Taylor, President and CEO of Great Bear said, “While much of the past exploration work at Dixie was high quality, later interpretations of zone geometries were hampered by incorrect data. Using oriented drill core and gyroscopic surveys, we have cut through the effects of the magnetic background rocks which skewed past drilling and observe a consistent mineralized zone at the DLZ structure, including several steeply-plunging high-grade zones. This mineralization is open along strike and at depth. While more than 360 metres of continuity is a strong start, gold deposits in Red Lake often extend to kilometres of depth, and from that perspective we are only just scratching the surface of this zone’s potential.”

The most recent drill results are provided in Table 1. Highlighted results from the 2.3 kilometres of strike length of the DLZ drilled to-date are provided in Table 2. A summary of results of ongoing historical drill hole surveying is provided in Table 3. An updated long section of the DLZ including names and locations of various high-grade zones that will be targeted during the current drill program are provided in Figure 1. A map of current drill collars is provided in Figure 2.

Table 1: New drill results from the DLZ, showing vertical depth of intercepts. Drilling targeted previously interpreted unmineralized areas. Drilling is insufficient to determine true widths.

Drill Hole From (m) To (m) Width (m) Gold (g/t) Vert. Depth (m)
DL-028 34.60 39.70 5.10 4.34 26
DL-028 including 35.60 38.70 3.10 6.71
DL-028 and including 36.10 38.20 2.10 8.10
DL-032 61.95 67.35 5.40 1.06 40
DL-029 46.70 50.70 4.00 3.23 41
DL-029 including 47.70 49.60 1.90 4.44
DL-029 and 76.00 78.00 2.00 3.33 69
DL-026 81.55 84.00 2.45 2.48 69
DL-026 83.40 84.00 0.60 4.59
DL-030 74.20 76.50 2.30 2.64 69
DL-027 382.70 403.50 20.80 1.60 304
DL-027 and including 387.30 388.30 1.00 6.09
DL-027 and including 387.30 387.80 0.50 10.70
DL-027 and including 397.50 399.00 1.50 4.46
DL-031 Zone 1 335.20 337.50 2.30 6.16 257
DL-031 including 336.30 337.50 1.20 9.27
DL-031 Zone 2 423.25 433.85 10.60 1.39 324
DL-031 including 432.00 433.85 1.85 3.84
DL-031 and including 432.00 432.60 0.60 6.03
DL-037 334.70 349.60 14.90 1.85 321
DL-037 including 335.30 335.85 0.55 7.74
DL-037 and 344.90 346.85 1.95 6.32
DL-036a 358.50 362.10 3.60 2.50 346
DL-036a including 360.50 362.10 1.60 5.12
DL-036a and including 361.60 362.10 0.50 10.17
DL-036a and 368.45 377.90 9.45 2.38
DL-036a and including 369.60 371.25 1.65 4.07
DL-036a and including 377.40 377.90 0.50 15.67 365

Table 2: Highlighted results from previous DLZ drilling to-date

Drill Hole From(m) To(m) Width(m) Gold(g/t) Vertical Depth (m)
DL-04-04 228.15 232.77 4.62 9.75 190
DL-04-06 333.3 345.67 12.34 7.54 323
including 335.42 342.49 7.07 12.26
and incl. 335.42 336.88 1.46 40.27
DL-11-05 132.2 138.5 6.30 10.78 116
including 134.7 138.5 3.80 14.76
and incl. 135.8 137 1.20 30.48
DL-005 162.6 173 10.40 16.84 128
including 164.6 172.45 7.85 21.53
and including 171.4 172.45 1.05 130.10
DNW-001 52.6 58.2 5.60 3.52 38
including 56.8 58.2 1.40 12.74
DL-013 47.7 88 40.30 1.73 40
including 47.7 50 2.30 6.01
including 58 70.3 12.30 3.13

Table 3: Surveying results to-date showing deviations in historical results

Type
Number of Holes 
Completed To-Date
 Results
Differential GPS
survey of drill
collar locations		 225
(104 historic)		 Average horizontal shift of 4.39 m. Maximum horizontal shift of +/- 83.0 m E and +/- 51.72 m N. Average vertical shift of 4.03 m. Maximum vertical shift of +/- 51.67 m.
Non-magnetic
(gyroscopic)
downhole survey		 66 Average deviation change of 7.95 m at the end of each drill hole. Maximum shift of 148 m at end of drill hole. Significant errors were also observed by Great Bear geologists when using a compass at surface.
Re-logging and
sampling of
historic core		 35 Identified key lithological units and collected 1,566 samples for gold and ICP analysis

Figure 1: Long section through the DLZ as drilled to-date showing currently reported drill results and locations of planned drill holes. The “88-4”, “5”, “Gap” and “88-4 Extension” zones are shown. All drill holes that intersect the DLZ contact in this area are shown. Areas without pierce points or composite intervals have not yet been drilled. Zone is open along strike and at depth.

Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/0a3ee59eb2f7784731541703b3919009
Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/0a3ee59eb2f7784731541703b3919009

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5331/41347_d19702c8b4f2abf0_002full.jpg

The Company is now conducting a 30,000 metre, 150 drill hole drill program that is expected to continue through 2018 and 2019. Targets to be drilled include the Hinge Zone, SLZ and DLZ, as well as a number of newly defined, highly prospective geological and structural targets across the project. Results will continue to be released in batches as received.

Highlights of all of Great Bear’s drill results can be viewed at the Company’s web site at www.greatbearresources.ca

Figure 2: Plan map showing updated collar locations of current and pending drill results

Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/80a39ba4918c35e40bdb91bc77c7d941
Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/80a39ba4918c35e40bdb91bc77c7d941

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5331/41347_d19702c8b4f2abf0_003full.jpg

About Great Bear

The Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s Madsen property. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

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

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

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

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

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

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

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

We seek safe harbor

Categories
Precious Metals

BOB MORIARTY | These 113 Analysts Believe Gold Will Go Parabolic to $3,000 or More!

Bob Moriarty
Archives
Nov 27, 2018

Lorimer Wilson January 24, 2011
$5,000 Gold Bandwagon Now Includes 85 Analysts!

More and more economists, analysts and financial writers, 125 in fact, have taken the bold step of projecting the price at which gold will achieve its parabolic peak with 5 individuals claiming that the peak price will be realized sometime in 2011. Some have adjusted their previous prognostications higher given gold’s strong advance again in 2010 while others have jumped aboard what has become a bandwagon of optimism. The majority (85) maintain that $5,000 or more for gold is possible.

These 5 Analysts Believe Gold Will Reach Parabolic Peak Sometime in 2011

  • 1. Bob Kirtley: $10,000;
  • 2. Patrick Kerr: $5,000 – $10,000;
  • 3. James Dines: $3,000 – $5,000;
  • 4. Taran Marwah: $3,000;
  • 5. Jim Sinclair: $3,000 – $5,000 (by June 2011);

These 6 Analysts See Gold Price Going Parabolic to +$10,000

  • 1. Mike Maloney: $15,000;
  • 2. Ben Davies: $10,000 – $15,000;
  • 3. Howard Katz: $14,000;
  • 4. Dr. Jeffrey Lewis: $7,000 – $14,000;
  • 5. Jim Rickards: $4,000 – $11,000;
  • 6. Roland Watson: $10,800

These 46 Analysts See Gold Price Peaking Between $5,001 and $10,000

  • 1. Bob Kirtley: $10,000 (by 2011);
  • 2. Arnold Bock: $10,000 (by 2012);
  • 3. Porter Stansberry: $10,000 (by 2012);
  • 4. Peter George: $10,000 (by Dec. 2015);
  • 5. Tom Fischer: $10,000;
  • 6. Shayne McGuire: $10,000;
  • 7. Eric Hommelberg: $10,000;
  • 8. David Petch: $6,000 – $10,000;
  • 9. Gerald Celente: $6,000 – $10,000;
  • 10. Egon von Greyerz: $6,000 – $10,000;
  • 11. Peter Schiff: $5,000 – $10,000 (in 5 to 10 years);
  • 12. Patrick Kerr: $5,000 – $10,000 (by 2011);
  • 13. Peter Millar: $5,000 – $10,000;
  • 14. Roger Wiegand: $5,000 – $10,000;
  • 15. Alf Field: $4,250 – $10,000;
  • 16. Jeff Nielson: $3,000 – $10,000;
  • 17. Dennis van Ek: $9,000 (by 2015);
  • 18. Dominic Frisby: $8,500;
  • 19. Paul Brodsky: $8,000;
  • 20. James Turk: $8,000 (by 2015);
  • 21. Joseph Russo: $7,000 – $8,000;
  • 22. Bob Chapman: $7,000+;
  • 23. Michael Rozeff: $2,865 – $7,151;
  • 24. Jim Willie: $7,000;
  • 25. Dylan Grice: $6,300;
  • 26. Chris Mack: $6,241.64 (by 2015);
  • 27. Chuck DiFalco: $6,214 (by 2018);
  • 28. Jeff Clark: $6,214;
  • 29. Aubie Baltin: $6,200 (by 2017);
  • 30. Murray Sabrin: $6,153;
  • 31. Samuel “Bud” Kress: $6,000 (by 2014);
  • 32. Adam Hamilton: $6,000;
  • 33. Robert Kientz: $6,000;
  • 34. Harry Schultz: $6,000;
  • 35. John Bougearel: $6,000;
  • 36. David Tice: $5,000 – $6,000;
  • 37. Laurence Hunt: $5,000 – $6,000 (by 2019);
  • 38. Taran Marwah: $3,000 – $6,000+ (by Dec. 2011 and Dec. 2012, respectively);
  • 39. Martin Hutchinson: $3,100 – $5,700;
  • 40. Stephen Leeb: $5,500 (by 2015);
  • 41. Louise Yamada: $5,200;
  • 42. Jeremy Charlesworth: $5,000+;
  • 43. Przemyslaw Radomski: $5,000+;
  • 44. Jason Hamlin: $5,000+;
  • 45. Greg McCoach: $5,000+ (by 2012)
  • 46. David McAlvany: $5,000+
  • Cumulative sub-total: 52

These 34 Analysts Believe Gold Price Could Go As High As $5,000

  • 1. David Rosenberg: $5,000;
  • 2. Doug Casey: $5,000;
  • 3. Peter Cooper: $5,000;
  • 4. Robert McEwen: $5,000 (by 2012 -2014);
  • 5. Martin Armstrong: $5,000 (by 2016);
  • 6. Peter Krauth: $5,000;
  • 7. Tim Iacono: $5,000 (by 2017);
  • 8. Christopher Wyke: $5,000;
  • 9. Frank Barbera: $5,000;
  • 10. John Lee: $5,000;
  • 11. Barry Dawes: $5,000;
  • 12. Bob Lenzer: $5,000 (by 2015);
  • 13. Steve Betts: $5,000;
  • 14. Stewart Thomson: $5,000;
  • 15. Charles Morris: $5,000 (by 2015);
  • 16. Marvin Clark: $5,000 (by 2015?);
  • 17. Eric Sprott: $5,000;
  • 18. Nathan Narusis: $5,000;
  • 19. Bud Conrad: $4,000 – $5,000;
  • 20. Paul Mylchreest: $4,000 -$5,000;
  • 21. Pierre Lassonde: $4,000 – $5,000;
  • 22. Willem Middelkoop: $4,000 – $5,000;
  • 23. Mary Anne and Pamela Aden: $3,000 – $5,000 (by February 2012);
  • 24. James Dines: $3,000 – $5,000 (by June 2011);
  • 25. Goldrunner: $3,000 – $5,000 (by 2012);
  • 26. Bill Murphy: $3,000 – $5,000;
  • 27. Bill Bonner: $3,000 – $5,000;
  • 28. Peter Degraaf; $2,500 – $5,000;
  • 29. Eric Janszen: $2,500 – $5,000;
  • 30. Larry Jeddeloh: $2,300 – $5,000 (by 2013);
  • 31. Larry Edelson: $2,300 – $5,000 (by 2015);
  • 32. Luke Burgess: $2,000 – $5,000;
  • 33. Jim Sinclair: $3,000-$5,000 (by June 2011);
  • 34. Marc Faber: $1,500 – $5,000
  • Cumulative sub-total: 86

These 27 Analysts Believe Gold Will Achieve a Parabolic Peak Price Between $3,000 and $4,999

  • 1. David Moenning: $4,525;
  • 2. Larry Reaugh: $4,000+;
  • 3. Mike Knowles: $4,000;
  • 4. Ian Gordon/Christopher Funston: $4,000;
  • 5. Barry Elias: $4,000; (by 2020);
  • 6. Jay Taylor: $3,000 – $4,000;
  • 7. Christian Barnard: $2,500 -$4,000;
  • 8. John Paulson: $2,400 – $4,000 (by 2012);
  • 9. Myles Zyblock : $3,800;
  • 10. Eric Roseman: $3,500+;
  • 11. Christopher Wood: $3,360;
  • 12. Franklin Sanders: $3,130;
  • 13. John Henderson: $3,000+ (by 2015-17);
  • 14. Michael Berry: $3,000+; (by 2015)
  • 15. Hans Goetti: $3,000;
  • 16. Michael Yorba: $3,000;
  • 17. David Urban: $3,000;
  • 18. Mitchell Langbert: $3,000;
  • 19. Brett Arends: $3,000;
  • 20. Ambrose Evans-Pritchard: $3,000;
  • 21. John Williams: $3,000;
  • 22. Byron King: $3,000;
  • 23. Ron Paul: $3,000 (by 2020);
  • 24. Chris Weber: $3,000 (by 2020);
  • 25. Mark Leibovit: $3,000;
  • 26. Mark O’Byrne: $3,000;
  • 27. Kevin Kerr: $3,000
  • Cumulative sub-total: 113

Source:- http://www.munknee.com

There seems to be one name missing from the list. All those SWAGS have missed one important element. When you are talking about the price of gold, you are talking about two commodities, gold and whatever currency you are quoting the price in.
If you can’t predict the value of the dollar in the future with accuracy, you cannot predict the price of gold either.
Maybe they should have read what I think about “Experts” and “Gurus” in Nobody Knows Anything.
You should buy gold when it is cheap and unloved. You should then sell it when it is expensive and everyone loves it.

Categories
Precious Metals

MILES FRANKLIN | JP Morgan is Being Investing for PRICE FIXING by the Department of Justice (DOJ)

November 28, 2018
The Miles Franklin Newsletter
If your having trouble viewing this – Click Here
From The Desk Of David Schectman
David’s Commentary
Under normal conditions, gold and silver pretty much march along to the same drummer. But I expect it will be different, as we move ahead into 2019.
The price of silver is no longer following the price of gold in a “normal” manner. The 86 to 1 silver to gold ratio is telling us that silver is too cheap. Theonly question I have is how low will the ratio go in 2019? Will the ratio fall into the 70s or 60s or even lower? It is not a matter of “if,” it’s a matter of “when.”
What will happen to the price of silver if Da Boyzare able to hold the price of gold down? I believe it won’t matter; silver will move up regardless as the stretched-out silver/gold ratio starts correcting and moving lower. Jim Sinclair refers to silver as “gold on steroids.” That is the case on the way lower and on the way higher.
In today’s daily I will present two events that should allow silver to break free of the blatant manipulation that has kept its price way too low for way too long. Once silver breaks free from JPMorgan’s shorting positions on the Comex, and is able to trade freely, there is no telling how high the price will go and how fast it will happen. Even if the price of gold is contained, which is not exactly a given, there are still two reasons to be optimistic about silver next year, which will allow it to significantly outperform gold.
The first is the DOJ is looking closely at JPMorgan’s manipulation of silver. I cannot over-estimate just how important this event is.
The second is simply a supply/demand condition for 2019. The mined silver will not be sufficient to meet the demand. That is a condition that usually leads to higher prices. Buyers who want or need silver will pay whatever it takes to obtain it and the way the market balances supply and demand is by raising and lowering the price to attain a balance.
Let’s start off with a very important and interesting article that should not be missed. I considered itmust reading for anyone who owns silver, or is curious why it has performed so poorly for the last few years. It looks to be a game-changer.
JPMorgan is being investigated for price fixing by the Department of Justice (DOJ). This is not the impotent CFTC; it’s the DOJ. They don’t simply levyfines and a slap on the wrist. They send people away. Is it any wonder that JPMorgan has now closed out it silver shorts on the Comex? Uppermanagement over at JPMorgan has to be sweating bullets. People will go to jail. The DOJ is looking “up the management ladder.” The only thing holding down the price of silver (reflected by its near 86 to 1 silver/gold ratio) is JPMorgan’s manipulation andthey have been put on notice by the DOJ. If they take their foot off the brake, silver is set to soar.
Will DOJ Finally Hold Bullion Banks Accountable for Market Rigging?
It is hard to cheer for the Department of Justice these days, but federal prosecutions have begun to offer hope for precious metals investors hurt by rigged markets and crooked traders.
The DOJ looks poised to do what regulators at the CFTC have not. They will use evidence of blatant cheating and fraud to hold a few bankersaccountable.
Last week, DOJ officials asked the judge in a civil suit against JPMorgan Chase to delay proceedings for 6 months to clear the patch for more prosecutions.
David’s Commentary:
Take a deep breath and let out a big “Hurrah”. JPMorgan is finally long gone from the silver market. They have covered their short position. The fact that JPMorgan is now back in a market neutral position is, as Ed Steer says,” wildly bullish”.
Ed Steer
Silver analyst Ted Butler had this to say about in gold in his commentary
late yesterday afternoon…”It’s not quite as clear in gold, but I’d venture that JPM bought back the entire 30,000 gold contracts it shorted in October, as well.”
A few follow up comments about the still rather remarkable announcement by the Department of Justice concerning the guilty plea by the former JPMorgan trader for spoofing in precious metals. Contained in the announcement was the statement that the guilty plea was accepted and sealed on Oct 9, nearly a month before it was unsealed on Nov 6. With a rather short sentencing date approaching onDecember 19, and the time it took to unseal the plea, it may be assumed that the trader has already fully cooperated in the hopes of reducing his jail time, said to approach 30 years with no cooperation.
David’s Commentary:
In addition to the DOJ investigation into the silver price suppression, here is the second reason that the price of silver should rise next year…
Kitco News
By Anna Golubova
Silver Surplus Won’t Last, Prices To Rally Next Year — Capital Economics
(Kitco News) – Next year will be a turnaround year for silver, with prices expected to rally to $17 per ounce by the end of 2019 on higher investor demand and an unexpected end to the U.S. monetary policy tightening, according to Capital Economics.
David’s Commentary:
In case you don’t recall, the silver to gold ratio in the 2000s was often in the 40 to 1 or 50 to 1 range. There is a pattern on the following chart that is easy to see. After every sustained “rise” in the ratio, it is always followed by a “steep decline.” It would not be a stretch to expect the ratio to plunge back down to the low 50s or even the 40s.
So what does that mean for the price of silver? Let’s say, for kicks, that gold moves up to $1,350. I think that’s very conservative, don’t you? At $1,350with the silver to gold ratio at 50 to 1 the price of silver would be $27 per ounce. That’s almost twice as high as it is today (near $14). And if we set the price of gold at it’s most recent high of $1,900 should we not expect silver to at least reach it’shigh at that time of $50? I think so, at a minimum. That would move the silver to gold ratio down to 38 to 1.
$50 silver is not, in my estimation, a top. It is just a momentary stop along the way toward much higher prices. It’s human nature to chase a top. Greed sets in. You are witnessing it right now in the stock market. The “Normalcy Bias” sets in and people get used to rising prices and they begin to believe that this new trend will continue in motion. And it will, until it doesn’t. That, dear readers, is when you will be put to the test. “Is now the time to sell?” “Should I hold on longer for an even higher price?” Ah, I long for the good old days, but they will be back, and if the DOJ has anything to say about it, it will be sooner rather than later. Yes, 2019 should be one Hell of a year for Gold’s little sister.
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Base Metals Energy Precious Metals Project Generators

PROJECT GENERATOR | EMX Royalty Provides An Asset Portfolio And Corporate Update

 
Vancouver, British Columbia–(Newsfile Corp. – November 28, 2018) – EMX Royalty Corporation(TSXV: EMX) (NYSE American: EMX) (the“Company” or “EMX”) is pleased to provide an update on advancements of the Company’s royalty and mineral property portfolio that totals over 90 projects on five continents. These assets provide revenue from royalty, pre-production and other payments, as well as upside optionality from operator funded projects. EMX’s diversified business model of royalty generation, royalty acquisition, and strategic investment provides multiple avenues for growing the Company’s portfolio and building shareholder value. Please see the global portfolio map below and www.EMXroyalty.com for more information.
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(Figure 1) Note: Annotated projects with stars are discussed in this news release.
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IG Copper Strategic Investment
EMX received its initial cash distribution of US $65.15 million from IG Copper LLC’s (“IGC”) sale of the Malmyzh project (“Malmyzh” or the “Project”) located in Far East Russia[1]. EMX’s strategic investment in IGC resulted from the Company’s recognition of Malmyzh in 2011 as an early-stage copper-gold porphyry opportunity with excellent discovery potential. EMX took a disciplined investment approach by backing IGC’s steady advancement of the Project over the years. This work included the early-stage exploration work that led to the discovery of the Malmyzh district, and the drill intensive programs that progressed the Project through resource definition and approvals in the Russian Federation. The execution of these programs, with strong financial and management backing from EMX, culminated in the sale of Malmyzh to Russian Copper Company for US $200 million, of which US $190 million has been released from escrow. The remaining US $10 million from the sale is being held in escrow, and subject to certain conditions, cash distributions of up to US $4 million will be made to EMX as funds are released over the next 12 months.
Royalty and Royalty Generation Properties
EMX’s royalty property interests include Leeville in Nevada, the Timok Project’s Cukaru Peki deposit in Serbia, and properties being advanced by operating companies in Turkey, the western U.S., and Scandinavia. EMX’s royalty generation programs are filling the mineral property pipeline with new acquisitions on open ground in geologically prospective regions.
North America. There are 38 properties in the portfolio, of which fifteen are royalties or optioned for an EMX royalty interest, as well as other consideration to the Company’s benefit. The Company advances the western U.S. royalty generation portfolio through its wholly-owned subsidiary Bronco Creek Exploration (“BCE”).
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(Figure 2)
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  • EMX’s Leeville 1% gross smelter return royalty covers portions of Newmont Mining Corporation’s (“Newmont”) Northern Carlin Trend underground mines, including the Leeville and Turf operations. Newmont produced ~358 royalty gold ounces from Leeville in Q3 providing production royalty revenue to EMX of ~US $435,500. Royalty production was sourced from Leeville (65%) and Turf (35%). Newmont is exploring a trend of gold mineralization that extends southeast from the Leeville mining complex, and is partially covered by EMX’s royalty position. As discussed by Newmont, this trend, which includes the Rita K and Full House projects, is an important contributor to its Northern Carlin Trend underground resource and reserve development strategy. In addition, Newmont has highlighted “strong results South and West of Four Corners” and the “NE upside potential subparallel to the West Bounding Fault”, both of which include areas covered by the Leeville royalty property[2].
  • EMX has a 2% net smelter return (“NSR”) royalty covering the Hardshell Skarn claim block, which is part of South32 Limited’s (“South32”) Hermosa property in southern Arizona. The Hermosa property’s Taylor zinc-lead-silver carbonate replacement development project is directly north of EMX’s Hardshell Skarn royalty claim block. In Q3, the project’s previous owner, Arizona Mining Inc. (“AMI”), announced the completion of the plan of arrangement whereby South32 acquired all of the issued and outstanding common shares of AMI[3]. South32 expects to invest approximately US $100 million at the Taylor project in the 2019 fiscal year[4]. To date, two angle diamond drill holes have intersected high grade polymetallic zinc-lead-silver mineralization within EMX’s royalty claim block[5].
  • Anglo American concluded phase I reconnaissance drilling at the Copper Springs property in Arizona, which is under an option agreement with EMX. The program consisted of four holes totaling over 5,700 meters that tested concealed porphyry targets. The alteration and mineralization assemblages observed from bedrock intercepts are encouraging. Anglo American advises that it is planning a phase II follow-up program of additional geophysics and drilling. EMX optioned Copper Springs to Anglo American for cash payments and work commitments, and upon Anglo American’s earn-in for 100% interest in the project EMX will receive additional payments and retain a 2% NSR royalty interest[6].
  • EMX’s option agreement for the Greenwood Peak project in Arizona with a wholly owned subsidiary of Antofagasta plc (“Antofagasta”) was terminated in Q3. Earlier in 2018, Antofagasta concluded a three hole, 1,035 meter reconnaissance drill program to test a concealed porphyry target, and intersected weak alteration in bedrock. EMX has dropped the property due to a lack of encouraging results.
  • EMX’s generative work focused on new copper and gold targets in Arizona, the Great Basin, and Wyoming. The Company also completed property reviews with potential partners, and is in discussions with several groups for the available North American projects, as well as for regional generative alliances.

Turkey. EMX holds five royalty properties, including Akarca, Balya, and Sisorta, as well as two available royalty generation projects in Turkey’s Western Anatolia and Eastern Pontides mineral belts.
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(Figure 3)
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  • Çiftay İnşaat Taahhüt ve Ticaret A.Ş. (“Çiftay”), the owner of the Akarca gold project, made the fourth pre-production payment of ~US $610,000 to EMX (the cash equivalent of 500 troy ounces of gold) in Q3. Receipt of this payment leaves a pre-production total of 5,000 ounces of gold (or the cash equivalent) to be paid to EMX by Çiftay on a schedule of 500 ounces every six months. EMX retains a sliding scale royalty (subject to certain deductions) ranging from 1% to 3% for gold production from the property[7]. Çiftay advises that a scoping study is underway that includes diamond drill results announced earlier in 2018, such as 9.5 meters averaging 50.30 g/t gold and 29.2 g/t silver in the Arap Tepe “Zone C” area (true width ~85-95% of intercept length)[8]. Çiftay advises that its follow-up 2018 exploration programs are awaiting drill permits.
  • At the Balya lead-zinc-silver royalty property, Turkish owner Dedeman Madencilik San ve Tic. A.S. (“Dedeman”) advised that it is continuing with its ~25,000 meter step-out drill campaign to fill in a ~500 meter long corridor between mineralization at Hastanetepe, where underground development work has been concentrated, and the Southern Zone target area. Dedeman provided EMX with initial results from the program, which included 12.75 meters averaging 11.39% lead, 5.92% zinc and 225.18 g/t silver in hole DB108-B (true width ~95% of intercept length), as well as other intercepts in nearby holes at Hastanetepe[9]. EMX has an uncapped 4.0% NSR royalty interest covering Balya.
  • The Sisorta gold project’s Turkish owner, Bahar Madencilik Sinayi ve Ticaret Ltd Sti (“Bahar”), advised Environmental Impact Assessment (“EIA”) work is ongoing under the mine permitting process in Turkey. Once complete, Bahar intends to continue applying for the permits necessary for project development. EMX has an uncapped 3.5% to 5.0% NSR royalty interest covering Sisorta.

Serbia. EMX has a 0.5% NSR royalty covering the Timok Project’s Cukaru Peki copper-gold deposit[10]. Nevsun Resources Ltd (“Nevsun”) controls the Timok Project’s high-grade Upper Zone (characterized by epithermal-style mineralization), and is in a joint venture with Freeport-McMoRan on the Project’s Lower Zone (characterized by porphyry-style mineralization). Nevsun announced a friendly, all cash agreement in Q3 to be acquired by Zijin Mining Group Co. Ltd. of China for US $1.41 billion[11].
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(Figure 4)
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Nevsun filed a technical report on the initial inferred resource for the Lower Zone porphyry project of 1.659 billion tonnes averaging 0.86% copper and 0.18 g/t at a “dollar equivalent” cut-off of US $25/tonne[12]. The Lower Zone porphyry “ranks high in grade, size and contained metal for porphyry copper deposits worldwide” according to Nevsun. Nevsun’s technical report also included the previously announced Upper Zone Pre-Feasibility Study that outlined a 10 year mine life yielding approximately 1.7 billion pounds of payable copper and 516 thousand ounces of payable gold[13]. Initial Upper Zone production is estimated by Nevsun to be in 2022. Nevsun has stated that “There are multiple high grade Upper Zone style exploration targets above the Lower Zone and our exploration licenses have the potential to host entirely new porphyry systems with associated high grade Upper Zone style mineralization.”
EMX’s royalty properties in the Timok Magmatic Complex add significant upside potential from one of the world’s top copper development projects.
Scandinavia. EMX’s portfolio in Scandinavia totals over 35 royalty and royalty generation properties in Sweden and Norway. The Company has converted multiple properties to royalty and equity interests, while adding value via early-stage exploration to royalty generation properties that are available for partnership.
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(Figure 5)
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  • EMX has eight royalty properties sold to, and operated by Boreal Metals Corp. (“Boreal”) and Boreal Energy Metals Corporation (“BEMC”), a subsidiary of Boreal. The sale of the properties included uncapped 3% NSR royalty interests, equity interests in Boreal and BEMC, annual advance royalty payments, and other consideration to EMX’s benefit. The properties consist of polymetallic, cobalt, nickel, and copper projects. In Q3, Boreal a) commenced exploration programs at the Tynset volcanic massive sulfide (“VMS”) project in Norway, b) identified prospective geophysical targets at the Gumsberg VMS project in Sweden, and c) commenced a 1,000 meter reconnaissance diamond drill program at the Burfjord copper-gold project in Norway[14]. EMX provided technical assistance for this work on a 100% reimbursed consulting basis.
  • At the Riddarhyttan iron oxide copper-gold (“IOCG”) and massive sulfide project in Sweden, which is optioned to South32, EMX conducted geologic mapping, geochemical sampling, and geophysical surveys during Q3 on a 100% reimbursed basis. The geophysical work included high resolution VTEMTM(airborne time-domain electromagnetic) and aeromagnetic surveys over the entire Riddarhyttan license area. These new data are being used to generate drill targets on the project. Riddarhyttan was optioned to South32 for cash payments and work commitments to earn a 100% interest in the project, and upon earn-in, EMX will receive annual advance royalty and milestone payments in addition to a 3% NSR royalty interest[15]. Riddarhyttan is the locality where the element cobalt was first discovered and recognized, and is also the type locality of certain rare earth elements and related minerals.
  • Geochemical sampling and geophysical surveying was conducted in Q3 at the Slättberg nickel-copper-cobalt project in Sweden, which is optioned to Sienna Resources Inc. (“Sienna”). This work followed-up on Sienna’s earlier drill program that returned intercepts including 2.8 meters averaging 1.05% nickel, 1125 ppm cobalt and 0.79% copper in hole SIE-18-3 (true width 60-70% of reported interval length)[16]. Slättberg was optioned to Sienna for share equity in Sienna, and upon Sienna’s earn-in through work commitments for 100% interest in the project, additional share equity will be due and EMX will retain a 3% NSR royalty on the project[17].
  • Geochemical sampling and geophysical surveys were completed over a number of EMX’s “Gold Line” licenses in the Skellefteå area in central Sweden. Multiple geochemical sampling techniques were tested in orientation surveys across several areas with historic, drill-defined zones of gold mineralization. Results are pending, but this work is intended to identify methods appropriate for recognizing additional zones of gold mineralization hidden beneath shallow glacial till cover. Ground based magnetic surveys and extensive stream sediment sampling surveys were also conducted across the project areas. Preliminary stream sediment data have highlighted drainages with newly recognized anomalous gold signatures. Follow-up work, including additional geophysical surveys and surface sampling and mapping, will take place in the winter months and into the spring and summer of 2019.

Other Assets. EMX’s portfolio in Australia and New Zealand consists of orogenic gold, epithermal gold-silver, sediment hosted stratabound copper, and copper-zinc skarn royalty and royalty generation projects. EMX’s organically generated 0.5% NSR royalty portfolio in Haiti covers gold and copper exploration properties held by Newmont Ventures Limited, as well as the Grand Bois project which is controlled by a privately held Nevada corporation.
Other Company News. EMX is pleased to announce the appointment of Lori Pavle as Corporate Secretary, taking on the position previously held by Marien Segovia. EMX thanks Ms. Segovia for her service to the Company, and extends best wishes for her future endeavors. Ms. Pavle has over 20 years of experience in the administration of natural resource companies listed on the TSX and TSX Venture exchanges, with appointments that included Corporate Secretary, Corporate Administrator, and Legal Assistant. The Company welcomes Lori to the EMX team. Pursuant to the Company’s Stock Option Plan, an aggregate of 60,000 incentive stock options, exercisable at a price of CDN $1.57 per share for a period of five years, has been granted to Ms. Pavle along with a signing bonus, through the issuance of an aggregate of 21,000 common shares, subject to any applicable stock exchange approvals and vesting requirements.
The Company also announces that upon successful completion of the sale of the Company’s interest in the Malmyzh Project in Russia, a discretionary cash bonus has been allocated in an aggregate amount of US$3.8 Million to executive directors, officers, employees and consultants of the Company.
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.
The recent advancements of the Company’s asset portfolio underscore EMX’s focus on steadily increasing global revenue streams from strategic investments, royalties, and other payments. The Company’s goal is to substantially grow our cash flowing royalty portfolio while providing multiple opportunities for exploration and production success.
Mr. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
-30-
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 merit 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 quarter ended September 30, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year ended 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.
[1] See EMX news releases dated October 30, 2018.
[2] See Newmont Investor Presentation – August 2018.
[3] See AMI news release dated August 10, 2018.
[4] See South32 Financial Results & Outlook Year Ended 30 June 2018 dated August 23, 2018.
[5] See EMX news releases dated August 30, 2017.
[6] See EMX news releases dated February 28, 2017.
[7] See EMX news release dated August 8, 2016.
[8] See EMX news release dated April 17, 2018.
[9] See EMX news release dated August 13, 2018.
[10] Note: EMX’s 0.5% NSR royalty is subject to reduction only as provided in the royalty agreement.
[11] See Nevsun news release dated September 5, 2018.
[12] See Nevsun news release dated August 7, 2018 and Sedar filed Technical Report.
[13] See Nevsun news releases dated March 28, 2018.
[14] See Boreal news releases dated July 4, September 19, and September 26, 2018.
[15] See EMX news release dated April 19, 2018.
[16] See Sienna news release dated May 17, 2018.
[17] See EMX news release dated December 4, 2017.

Categories
Precious Metals

JUNIOR MINING | Irving Resources Completes Non-Brokered Private Placement

Vancouver, British Columbia, November 27, 2018 (Globe Newswire) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce the closing of the non-brokered private placement announced on November 20, 2018. The Company raised $2,083,802 by the issuance of 1,894,365 units (the “Units”) at a price of $1.10 per Unit (the “Private Placement”). Each Unit is comprised of one common share of the Company and one-half of a share purchase warrant (the “Warrants”). Each whole Warrant is exercisable for one common share of the Company at a price of $1.75 per share for a period of two years from the date of issue, subject to an accelerated expiry provision.
The Company plans to use the net proceeds of the Private Placement to fund matters related to property exploration in Japan and for general working capital purposes.The securities issued under the Private Placement are subject to a four month hold period.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, Project Venture Agreements with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.
Additional information can be found on the Company’s website: www.IRVresources.com.
Akiko Levinson,
President & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 641-1214
info@IRVresources.com
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement as to the planned use of the net proceeds of the Private Placement. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource industry as well as the performance of services by third parties.
The securities of the Company have not been registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”)) or any U.S. state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, a “U.S. Person” (as such term is defined in Regulation S under the 1933 Act) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act and applicable U.S. state securities laws.
Categories
Precious Metals

JUNIOR MINING | Gowest Announces Private Placement

Not for distribution to United States newswire services or for dissemination in the United States

TORONTO, Nov. 27, 2018 (GLOBE NEWSWIRE) — Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) announced today that it intends to issue, on a non-brokered private placement basis, units of the Company (the “Units”), at a price of $0.05 per Unit, for aggregate gross proceeds of up to $5,000,000 (the “Private Placement”).  Each Unit will comprise one common share and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant being exercisable to acquire one common share of the Company at a price of $0.07 for a period of 24 months following the closing date of the Private Placement.

The proceeds of the Private Placement will be used by the Company for the continued development of its 100% owned Bradshaw Gold Deposit (“Bradshaw”), and for working capital purposes.  At the same time, now that the Company has secured a toll-milling agreement (see news release dated October 30, 2018) and expects to be in a position to start processing material from Bradshaw, Gowest is also pursuing a more significant, long-term strategic investment (see news release dated November 15, 2018).

Certain insiders of the Company may participate in the Private Placement and the Company may pay a finder’s fee to registrants who assist the Company in connection with the Private Placement.  Completion of the Private Placement is subject to receipt of TSX Venture Exchange approval.

All of the securities issuable in connection with the Private Placement will be subject to a hold period expiring four months and one day after date of issuance.  The Private Placement may be closed in one or more tranches.

The securities offered have not been registered under the United States 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 absent registration or an applicable exemption from registration requirements.  This release does not constitute an offer for sale of securities in the United States.

It is anticipated that the closing of the Private Placement will occur on or before December 31, 2018.

About Gowest

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP).  Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp.  Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

Forward-Looking Statements

This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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.

For further information please contact:

Greg Romain
President and Chief Executive Officer
Tel: (416) 363-1210
Email: info@gowestgold.com

Categories
Precious Metals

JUNIOR MINING | NxGold Provides Exploration Update on the Mt. Roe Project

  • Follow-up stream sediment sampling completed highlighting key prospects
  • Soil grids completed over Swan, Eagle and Hawk target areas
  • Larger target area developing through systematic exploration

VANCOUVER , Nov. 26, 2018 /CNW/ – NxGold Ltd. (“NxGold” or the “Company“), (TSXV: NXN) is pleased to provide an update on its exploration program at the Mt. Roe Project located in the Pilbara region of Western Australia .  The Company has recently completed a follow-up phase to the initial anomalous stream sediment samples continuing its systematic approach to target area identification and drill target refinement at the Mt Roe Project.  This follow-up work included additional stream samples, gridded soil samples and rock (grab) samples.

Figure 1: Stream sediment sample results compiled with Gridded Soil Sample locations from the Mt. Roe Project (CNW Group/NxGold Ltd.)

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Figure 1: Stream sediment sample results compiled with Gridded Soil Sample locations from the Mt. Roe Project (CNW Group/NxGold Ltd.)

A total of 47 stream silt samples (see Figure 1 and Table 1) were collected following up on the initial encouraging results which identified numerous target areas including an approximately 1.2 km long section of the Sholl ridge, host to the Eagle, Kangaroo and Bulldog target areas and coincident with a large magnetic high feature identified from the detailed UAV-magnetics survey (details of which are described in the News Release dated 15 October 2018 ).  As a result of this recent sampling, the target areas have been further refined to approximately a 500m , 350m and 250m section of the Eagle, Bulldog and Kangaroo target areas, respectively.  Assay results from gridded soil samples from the Eagle area are pending.  The Eagle area is expected to be a primary focus for drill targeting given the presence of the magnetic high anomaly, coincident stream anomalies and high-grade rock (grab) samples.

The Hawk , Swan and Sun target areas were expanded by the additional stream samples.  Results from the gridded soil samples are pending from the Hawk and Swan areas.  Additional work is required to better understand controls of the anomalous stream sample distribution.

The areas chosen for grid-based soil sampling utilised an 80 m line spacing and 40 m sample spacing with lines oriented to the north-west with a total of 139 soil samples being collected (Figure 1).  The target areas of initial interest include the Hawk area (26 samples) located near the known “80oz” prospector’s patch, the Eagle area (86 samples) where earlier trenching programs exposed a gold bearing structure, and the Swan area (27 samples), which hosts numerous gold nugget patches and structures exposed in trenching that returned anomalous gold and copper values (see the News Release dated September 10, 2018 ).  Assay results from this work program are pending.

Christopher McFadden , Chief Executive Officer commented, “In a relatively short period of time since acquiring the property this year, 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 approach will also be used to evaluate the Prinsep tenements and the pending tenements on Mt. Roe which are expected to be granted shortly.  The identification of vein structures in the Eagle, Hawk and Swan areas among others, supports the existence of primary gold mineralisation on the property. “

UAV Orthophotography and Magnetics Survey
Images from this survey are available on the Company’s website (www.nxgold.ca).

Initial program on Prinsep tenements

A total of 7 stream sediment samples were collected and a soil grid with 80 m line spacing and 80 m sample spacing was sampled for 60 samples collected.  This was an initial work program focused on historical areas worked by prospectors using metal detectors.  Results from this program remain pending.

Next Steps
Upon compilation of all the work completed this year-to-date, NxGold believes it will be in a position to complete a target prioritisation review to prepare for scout-drilling that will test the continuity of known conglomerate and prospective gold target areas.

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.

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.

Table 1: Stream Sediment Sample Results (CNW Group/NxGold Ltd.)

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Table 1: Stream Sediment Sample Results (CNW Group/NxGold Ltd.)
NxGold Ltd. (CNW Group/NxGold Ltd.)

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NxGold Ltd. (CNW Group/NxGold Ltd.)

SOURCE NxGold Ltd.

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Precious Metals

KEVIN DOUGAN | Knock, Knock, Knocking on Heaven’s Door

Knocking on Heavens Gate

KNOCK, KNOCK, KNOCKING ON HEAVEN’S DOOR
 
We as humans, I am sure want to believe this is not all there is to life. Many assume that when the body dies the spirit goes somewhere. The general belief is you are going up or down. To paradise or a place that would be eternal torture… kind of like having to hang out with the Kardashian family for eternity. Where will this discussion lead ??? …  climb aboard and see where this takes us but first we are going to a place I named … Heaven’s Gate.
I am a shareholder and big fan of Newrange Gold. I have toured the Pamlico Property twice and most importantly have spent quality time with the crew and have grown to admire and most importantly trust them implicitly with my investment dollars. I have gotten to know the key members of the crew while in the field and primarily at the BBQ pit. My goal is to share my valid opinion and beliefs and share that with my readers and give you a feel for the crew of NRG and why I believe this company has so much upside potential.
 
I met Nate Tewalt, the GEO of the property at the entrance of the Pamlico property by a gated fence. I jokingly called it “Heaven’s Gate”… as that is what all investors hope they are entering, when they put their hard-earned dollars into this casino… known as Jr. Miners. Nate laughed when I called it Heavens’ Gateand he said it jarred a fond long tucked away memory from his youth.
Nate Tewalt, was living near the town of Coeur d’Alene, Idaho in 1980, he was a fun-loving typical teen enjoying the summer break. Out of the blue he was approached by a casting crew to appear as an extra in a local movie. He was assigned the part of an elegant gentleman. His role consisted of dancing and romancing young starlets as an extra. Little did he know at the time but he was part of the biggest box-office bomb ever, the infamous film called Heaven’s Gate.
The Oscar winning director, Michael Cimino was fresh off his blockbuster Academy Award winning film, The Deer Hunter. He was deemed a genius and was given carte blanche to create another cinematic wonder. To say he dropped the ball is a colossal understatement. This waste of precious film and acting talent, has been dubbed the worst movie ever made. Cost overruns were astronomic and thousands of reshoots were all for naught. The film cost over $40 million and took in a paltry $3.5. This debacle caused the collapse of United Artist Studio and destroyed many a thespians dream.
 
Nate Tewalt’s best acting was mostly left on the cutting room floor. (Third from the right on the roller skates ?)
 
 
While it was a fun summer fling, Nate realized he was going to say goodbye to fleeting Hollywood dreams and proceed with his true passion … a career in geology and mining in which he would thrive. Tinseltown’s loss was Newrange Gold’s gain.
Graduating from Colorado State with a degree in Geology, Nate has gone on to prosper and be a founder or consultant of no less than 10 successful projects and mining companies in his 30 plus year career. Meridian Gold, Great Basin Gold and Standard Uranium among them. He has been a part of discovering three working mines. That my friend is a sure sign of his success so far.  He is applying those skill sets to the Pamlico project outside Hawthorne, Nevada. Nate considers this his most challenging and possibly biggest discovery yet.
Nate is an old school geologist, hands on, boots on the ground… grime and sweat the norm of each day. He is not one to stay in an air-conditioned cushy office and peruse drawings and maps. He is out getting sunburned, wind-whipped and hammered by the Nevada heat and he would have it no other way. He insists on doing his own mapping and charting as he says he is way too picky and a stickler for accuracy and consistency in his analysis. He said many a project fails from sloppy record keeping and misinterpretation of the data. Nature puts the Gold where it is, the geologist must solve the puzzle as to where it is hidden. He feels data must be consistent and standardized to be of any use. There is no one better to do it than someone he trusts …yup one Nate Tewalt.
Along his career path Nate was fortunate to befriend a like-minded, kindred soul, Tom Chadwick who is considered to be the one of the best mappers in the country. The quality of his work is impeccable. Tom has visited and charted almost every major discovery in the West and he is especially familiar with the Nevada region. He along with Nate believes that Pamlico is very special and could be an absolute beast when it is all said and done. The problem (which is a good problem to have) is the land package is so massive it is hard to get one’s hands around it. It must be systematically and methodically interpreted before it is understood.
The great news it is in the capable hands, a stickler for perfection and details … none other than the Elegant Gentleman full of dirt and grime … Mr. Nate Tewalt.
 
 
 
In previous articles I have covered the attributes and experience of the CEO of Newrange, Bob Carrington. I have gone underground with him and witnessed his dogged determination and passion for trying to turn Pamlico into a mine. I could only wish I could somehow bottle this and allow shareholders to see how much blood, sweat & tears go into his pursuit for the Mother Lode. Bob and crew work grueling untold hours pursuing their dreams in sweltering heat and sometimes bitter cold. Most shareholders have no clue how dedicated this team is.
 
Another famous twist on Heaven’s Gate is none other than another all-time debacle and absolute tragedy. This would be none other than the warped vision of an absolute madman … Marshall Applewhite. This kook convinced 38 poor souls that if they followed him, he could take them to paradise by catching a ride on Haley’s Comet. While I won’t go into gory detail, the reason why it is so entrenched in my mind is that it occurred less than 10 miles from my home. These poor souls had their last meal at our favorite pancake house. Needless to say, that put the kibosh on that family dining treat My kids were horrified of the place never to be enjoyed again. Sad how one mans horrific actions can affect so many.
 
How does that relate to Newrange ???  Let me try to explain. As I stated earlier investing in Junior miners is in a way like going to a casino. There are many charlatans, carpet baggers and scoundrels that run these companies. There are many con artists trying to separate you from your money. Fortunately, the business is such is there are also some absolute solid well-run companies that work hard for their shareholders. Newrange Gold in my opinion is one of these diamonds in the rough. They have a potentially awesome property with highly skilled
 
leadership. These are honorable, hard-working men that are passionate to make a world class discovery. It does take time and much blood, sweat and tears along with fantastic mapping and clear interpretation of the data. Having three of the best in the business, Bob, Nate & Tom working one project is a rarity but a sure blessing for NRG shareholders. Patience is paramount and the only way to make money. Buy Right & Sit Tight !!!
The price recently took a big hit when drill results weren’t eye popping, which the market anticipated from the previous stellar drill results. They were also released during an absolutely dismal time for the price of Gold. Nate explained to me when we were at Pamlico, the drill results they were more focused to strategically understand the mineralization rather than try to improve existing grades. This is a marathon play not a sprint !!!  Any weakness in share price should be viewed as a gift. It’s not when you buy that matters but when you sell. Investing in Juniors is a crap shoot but the risk/reward ratio can be stunning when entering by way of the Right Gate !!! … the Pamlico Gate just outside Hawthorne, Neveda.
 
NEWRANGE GOLD   NRG
STOCK PRICE .11
52 WEEK  .10 – .62
MARKET CAP $8.5 M
This is my opinion on a company that I have invested in. It is not to be construed to be investment advice. Due your own due diligence when making your own investment decisions. Kevin Dougan owns and runs a contract marketing company for Jr. Miners, Blue Sky Marketing
www.kdblueskymarketing.com
I have not been compensated for this article and it is my opinion alone based on sight visits and spending quality time getting to know management and 15 years of investing in this sector
October 31st, 2018|Gold Mining Companies
Categories
Precious Metals

JUNIOR MINING | Treasury Metals Provides Corporate Update on Term Loan Maturity Date Extension and on the Weebigee Gold Project

TORONTO , Nov. 26, 2018 /CNW/ – Treasury Metals Inc. (TSX: TML) (“Treasury Metals” or the “Company“) is pleased to announce the Company has entered into a binding term sheet with Extract Capital Master Fund Ltd. and Extract Lending LLC (together “Extract”) to extend the maturity date of the Company’s existing convertible term loan (the “Term Loan”) for three years (the “Loan Amendment”).

The Loan Amendment will amend the maturity date of the Term Loan, extending it for a period of three years from the effective date of closing that is anticipated to be on or about November 30, 2018 . As part of the Loan Amendment, Extract has also agreed to assume the US$2.2 million portion of the US$4.4 million facility previously held by Loinette Company Leasing Ltd. which has agreed to an early payout without penalty. The terms of the Loan Amendment will be subject to TSX approval.

Pursuant to the terms of the Loan Amendment, the Term Loan shall be convertible at the election of Extract into common shares in the capital of the Company (the “Common Shares”) at a conversion price of C$0.36 per Common Share, representing approximately a 50% premium to the closing price of the Common Shares ( November 23, 2018 ), which is the closing date of entering into the binding term sheet.

All other terms of the Term Loan will remain unchanged.

As consideration to Extract for entering into the Loan Amendment, the Company will pay Extract the following: (a) an extension fee of US$110,000, and (b) issue to Extract an aggregate of 600,000 common share purchase warrants (the “Warrants”), entitling Extract to purchase Common Shares at an exercise price of C$0.40 per Common Share for a three-year term. The Company may compel Extract to exercise the Warrants if the volume weighted average price of the Common Shares of the Company is C$0.60 or greater for thirty (30) consecutive trading days.

Exploration Agreement for Weebigee Gold Project

In addition, Treasury Metals is pleased to announce that its wholly owned subsidiary Goldeye Explorations (“Goldeye”) and Sandy Lake First Nation (“SLFN”) have entered into a one-year extension of its Exploration Agreement (the “Exploration Agreement Extension”) on its Weebigee Gold Project to continue exploration activities. The Exploration Agreement has been in effect since November 2013 .

The Weebigee Gold Project is 100% owned by Goldeye/Treasury and subject to an earn-in agreement with current operator Sandy Lake Gold Inc. (“SLG”) effective since April 15, 2015 .

The Weebigee Gold Project is located 227 kilometres north of Red Lake in Northwestern Ontario . In 2014, a 21 drill hole program completed by Goldeye in the western part of the claim package returned significant near surface results, including high grade gold intercepts of 12.86 Au g/t over 6.85 meters and 12.17 Au g/t over 6.2 meters. Further details regarding SLG’s earn-in option agreement and Weebigee are available at Treasury’s website www.treasurymetals.com.

The Exploration Agreement Extension reflects the ongoing collaborative relationship between Treasury Metals and SLFN, within whose Traditional Territory the Project is located. The parties are committed to ongoing meaningful engagement and dialogue with a view to ensuring that the SLFN community participates and benefits as the Project progresses. The Exploration Agreement Extension does not pertain to the additional mineral claims staked by SLG which are outside Goldeye’s Weebigee Gold Project area.

To view further details about the Treasury Metals, please visit the Company’s website at www.treasurymetals.com.

About Treasury Metals Inc.:

Treasury Metals is a gold focused exploration and development company with assets in Ontario, Canada and is listed on the Toronto Stock Exchange (“TSX”) under the symbol “TML”. Treasury Metals Inc.’s 100% owned Goliath Gold Project in northwestern Ontario is slated to become one of Canada’s next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface, Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 tonne per day processing plant with subsequent underground operations in the latter years of the mine life. Treasury Metals is currently in the mine permit process on the Goliath Gold Project.

Follow us on Twitter @TreasuryMetals

Forward-looking Statements

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

SOURCE Treasury Metals Inc.

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