YERINGTON, Nev., April 01, 2022 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF)(FSE: ZYTA) (“Nevada Copper” or the “Company”) today announced filing of its audited consolidated annual financial statements, the related management’s discussion and analysis and Annual Information Form for the year ended December 31, 2021 on SEDAR. These documents are available on the Company’s website at www.nevadacopper.com and the Company’s SEDAR profile at www.sedar.com.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP. www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact: Rich Matthews, Investor Relations Integrous Communications rmatthews@integcom.us +1 604 757 7179
VANCOUVER, BC / ACCESSWIRE / March 31, 2022 / Sandy MacDougall, CEO of Noram Lithium Corp. (“Noram” or the “Company“) (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to report that the Company has completed hole CVZ-70 on its Zeus lithium clay deposit in Nevada to a total depth of 463 ft (141.1m). When logging and visual inspection of the core was completed, it was noted that mineralization appeared immediately near surface and extended down to approximately 387.0 ft (138m) for a total intersection of 380ft (116m).
Figure 1 shows the Zeus project drilling to date with the various drilling phases color coded. The arrow points to the recently completed CVZ-70 hole. Other planned Phase VI holes are indicated in purple.
Figure 1 – Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 proposed holes for Phase V1 currently underway. CVZ-70 and other planned Phase VI holes are indicated in purple.
“Drill hole CVZ-70 is an incredibly encouraging hole for Noram. Figure 2 below shows a cross section with CVZ-70 and two adjacent, previously drilled, holes. The blue, green, black and magenta layers in the figure indicate claystone layers that have been shown to host the higher lithium assays from past drilling. The 380-foot (116-meter) intersection in CVZ-62 was one of the thickest claystone intersections by far. CVZ-70 appears to likely rival this and prior holes from prior programs. Thicker intersections such as this one will have profound implications on future resource tonnage calculations” commented Brad Peek M.Sc. CPG., VP of Exploration and Qualified Person for this and all 5 of the previous drilling phases of Noram’s Zeus lithium property.
Figure 2. Comparative stratigraphy for drill holes CVZ-70 as compared to CVZ-61 and CVZ-62, which were drilled as part of the Phase V program. CVZ-61 and CVZ-62 were two of the longest intercepts drilled on the property to date. All of the claystone units except the brown silty claystone have relatively high lithium concentrations in previous drill holes on the property. The histogram on the sides of CVZ-61 and CVZ-62 are the composited lithium grades in ppm Li.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522wiki_topics%2522%253A%2522Nor-Am_Cup%253BLithium_carbonate%253BNevada%253BCompany%253BZeus%253BLithium%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25221847405a-34aa-3752-a2c5-fbf07da729f3%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
CVZ-70 is the first of the 12-hole Phase VI drilling program which is expected to upgrade approximately 175 million tonnes of the current 827 million tonne Inferred Resource to the Indicated category. Core samples from CVZ-70 have been shipped to ALS Laboratory in Reno, Nevada for assay processing on a “rush” basis. Assay results are pending.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and treasury exceeding US$18 million. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.
The Company’s flagship asset is the Zeus Lithium Project (“Zeus”), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,250/tonne LCE.
Sandy MacDougall Chief Executive Officer and Director C: 778.999.2159
For additional information please contact: Peter A. Ball President and Chief Operating Officer peter@noramlithiumcorp.com C: 778.344.4653
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
VANCOUVER, BC / ACCESSWIRE / March 29, 2022 / Metallic Minerals (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company“) is pleased to announce the appointment of Mr. Scott Petsel as President of the Company, effective immediately. Mr. Petsel has been Vice President of Exploration for Metallic Minerals since 2016 and will be supported in this key executive leadership position by Chairman and CEO, Greg Johnson.
Mr. Scott Petsel, MBA, P.Geo., has over 34 years of experience in all facets of mineral exploration with particular focus on large scale precious and base metals systems. In addition to having extensive international experience, he has spent more than 20 years working in the Yukon, Alaska and British Columbia on significant advanced exploration and development stage projects including the Galore copper-gold-silver project (Teck/Newmont), Donlin gold project (NovaGold/Barrick), Upper Kobuk copper-zinc-silver-gold projects (Trilogy/South 32), and the Kensington gold mine (Coeur) amongst others. Mr Petsel received his geology degree from Fort Lewis College in Durango, Colorado, near Metallic’s La Plata Project, and his MBA at the University of Nevada, Las Vegas. His extensive experience in, and knowledge of, the jurisdictions where Metallic Minerals is active represents a great asset to the Company.
Scott Petsel, Metallic Minerals President, stated, “I look forward to this expanded role with Metallic Minerals, engaging with the shareholder base and broader investment community in collaboration with, Greg, and working with our strong technical teams to advance our exceptional portfolio of assets. It’s an exciting time in the precious and base metals markets for a dynamic exploration and development company like Metallic Minerals. We expect 2022 to be pivotal year for the Company and we have significant and substantive news to deliver over the ensuing weeks, including the Company’s inaugural resource estimate at La Plata and a robust and dynamic field exploration season on all three of the Company’s projects.”
Metallic Minerals Chairman & CEO, Greg Johnson, stated, “Through his successful career, Scott has repeatedly demonstrated the ability to recognize potential tier one quality deposits, efficiently advancing significant exploration projects through discovery, resource expansion, and subsequent engineering and de-risking to generate shareholder value. Scott is a leader and consensus builder with extensive ESG experience developed through his hands-on engagement with First Nations, Alaska Native Corporations and local communities. As the Company enters this next period of rapid development on multiple projects, I am confident that Scott will contribute significantly to Metallic Minerals in this expanded role going forward.”
About Metallic Minerals
Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver, gold and copper projects in underexplored, brownfields mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new discoveries and advancing resources to development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with nearly 300 million ounces of high-grade silver in past production and current M&I resources. In addition, exploration at the recently acquired La Plata silver-gold-copper project in southwestern Colorado is targeting a silver and gold-enriched copper porphyry and adjacent high-grade silver and gold epithermal systems. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%253B1580500%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%253B1580500%2522%252C%2522wiki_topics%2522%253A%2522La_Plata%253BCompany%253BScotty_(Star_Trek)%253BMining_engineering%253BMineral%253BKlondike_Gold_Rush%253BExploration%253BBase_metal%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%252215bf794c-3e55-3efd-bd26-8a63306ab511%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.
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.
Original Source: https://oec.world/en/blog/post/affects-of-russian-invasion-of-ukraine-on-global-food-access
The Russian invasion of Ukraine is endangering, even more, the supply of food. Russia and Ukraine play a critical role in food production. In 2019, for example, the two countries accounted for sixteen percent of global exports of cereals, including wheat, barley, sunflowers, and corn. Moreover, the U.S., Russia, and Ukraine dispute the top spots in global exports with Brazil, Argentina, and Canada. Although we don’t have 2021 data for Ukraine, as recent as 2019, the country referred to as “the breadbasket of Europe” was the fourth largest exporter of cereals worldwide.View in Trend Explorer →
The drought and supply chain disruptions have impacted food trade and driven prices to historic highs. Cereals, for example, set record prices in 2021, increasing 48% in the last five years. Higher prices are the result of a historic drought affecting crops in the U.S., and value chain bottlenecks. With the Russian invasion of Ukraine, we will experience even higher prices and reduced access to food. With the war, there will be less production of crops, reduced trade, and higher costs of fuel, fertilizers, and other agricultural inputs linked to oil and gas prices.
With the invasion, cereal exports from Ukraine will virtually stop, and financial sanctions will likely affect exports from Russia, threatening food security worldwide. In addition, the war will impact food access in several countries: Egypt, Turkey, Iran, Bangladesh, Nigeria, Morocco, Yemen, Tunisia, Azerbaijan, and Sudan, among others. In 2019, these ten countries imported $20.9B in cereals, almost 44% from Russia and Ukrain.
But two countries are facing a bigger problem with constrained supply.Egypt and Turkey account for 17% of global wheat imports, and they are also the biggest importers of wheat from Ukraine and Russia.
In 2019, these two countries imported $6.82B of wheat; 71% came from Russia and Ukraine. And those numbers have grown more. In 2021, for example, Egypt imported $1.39B from Russia, an annual growth of $65.7M (34.1%).
Wheat is essential for Egyptians’ diet. People in Egypt consume bread at twice the global average.View in Trend Explorer →
And it’s not only Egypt: more than 95% of Russia and Ukraine’s cereal exports to Africa are wheat. In 2021, for example, Russia exported $2.84B of this crop to Africa, an annual growth of $42.2M (11.8%).View in Trend Explorer →
The war comes as wheat imports by Turkey and Iran will double in 2022 as a regional drought limits domestic production in these countries. In 2021, for example, Turkey imported 6.7 million tons of wheat ($1.58B) from Russia, an increase of $10.9M (5.26%) in one year. And Ukraine ranks second.View in Trend Explorer →View in Trend Explorer →
Egypt, Turkey, and many other countries in Africa and Asia will see their wheat supply cut dramatically. There’s a need to find alternative suppliers. There is a country that exports as much wheat as Russia: the U.S.View in Trend Explorer →
The U.S. continues to be one of the world’s largest wheat producers, with close to 17% of global exports. On average, the U.S. exports 50% of wheat grown. In 2021, the U.S. exported $7.29B of wheat.View in Trend Explorer →
The U.S. is the biggest exporter of cereals globally, with $30.5B in 2021. However, two-thirds are corn ($19.4B), and $7.68B are wheat.View in Trend Explorer →
Most wheat exports from the U.S. go to Asia and North America. In 2021, the U.S. exported only $68M to Africa and none to Turkey.
There is only one big problem with American wheat exports; they are declining. In 2021, the U.S. exported 1.48B of metric tons of the crop, 23% less than the previous year.
A historic drought in the U.S. is grasping an area responsible for a fifth of fruits, cereals, and vegetable exports globally. From the Gulf of Mexico to the North Pacific to Main Street, farmers, ranchers, and consumers face the painful effects of the Great American Drought. As heatwaves get more extreme and frequent, we are experiencing a point upward from the High Plains to West to South.
Oregon, Texas, and Louisiana concentrated more than 90% of wheat exports in 2021. However, the drought has affected 41% of yields in the U.S., reducing exports by 29% metric tons and increasing the prices of flour and other wheat products.View in Trend Explorer →
The drought is also affecting other wheat exporters. France, responsable for around ten percent of global exports of wheat, has decreased its exports too due to bad weather. In 2020, for example, wheat harvest was 25% less than 2019 because of unfavorable weather conditions. A once in 100 year drought is also affecting Argentina, a country with five percent of wheat exports.
Russia’s invasion of Ukraine poses severe risks to global food security. The war introduces considerable uncertainty into an already tight food supply chain. Although Egypt and Turkey will experience significant disruptions to their wheat imports, the effects are far reaching. Countries in Africa and Asia are highly dependent on Ukraine and Russia for cereals, particularly wheat.
With droughts and skyrocketing food and gas prices, there is the risk that some may seek to restrict exports. But, as we have seen before, trade restrictions on food have harmful effects, particularly on the most vulnerable countries.
Last year about this time, precious metals expert and financial writer David Morgan was warning about massive money printing and the so-called “everything bubble” popping. Inflation is the pin, and it found the bloated debt bubble. Now get ready for some pain as Morgan explains, “It’s going to get bad, and I mean really bad. There is already mass starvation at the lower end of the economic scale in third world countries. . . . Prices are going to be untenable for many people, especially those in the middle class. When you get gasoline going up to the $5, $6, $7 range and you’ve got food going up to the level it’s gone up to and continues to go up to, it’s going to be bad. I am focusing on real stuff, not the bond market or what the price of gold is going to do. I am talking about day-to-day living. . . . When gasoline goes from $3.50 per gallon to $5.50 per gallon and you start doing the math on how much it takes to fill up your car and drive it back and forth to work every day, all of a sudden you’ve got diminishing returns. Then factor in what your heating bills and what your grocery bill is going to be. So, there is going to be a lot of people at the margin, and the margin keeps moving up. It’s a few percent of the population. Then it’s 10% and then 20% and so on. When food gets to be 50% of your budget, then there are food riots. That’s the trend . . . and I think we will get there. . . . We know the ‘Arab Spring’ was not about politics. It was about food. We are going to see ‘Arab Springs’ spring up all over the place because of food costs and availability. You can have a lot of money and not be able to get food too.”
It’s not just physical assets that are going to be affected, but the financial system too. Morgan says, “What is all this going to do to the financial system? It’s breaking, but it’s been broken for a long time. We just have not seen the end result—yet. I don’t think the bankers really thought this through all the way. If you look at the way Russia is, they are a hardened people. They are used to suffering. They are used to standing in line for bread and potatoes. They are not like other nations. . . . This is going to get uglier and uglier and harder and harder. I do not think this is going to get resolved anytime soon.”
What does Morgan see coming? Morgan says, “There are going to be cyber-attacks, and they are going on right now. There is going to be communication breakdown. Number three, there are going to be consequences that nobody can see at this point. And to reiterate, it’s a mess, and it’s going to get messier, and it’s not going to be resolved quickly.”
Morgan see’s gold at $2,300 by the end of this year and silver near $40 per ounce. In 2023, all bets are off, and Morgan contends you could see both metals way higher than they are now. Morgan says, “Silver will outperform gold in the long run on a percentage basis. . . . Silver will outperform gold four to one.” Morgan also says, “Demand for the metals from pensions funds and other big money managers is a “trend that is just getting started.”
Morgan also talks about the importance of cash and what the signal will be to get out of the U.S. dollar.
Join Greg Hunter as he goes One-on-One with David Morgan, publisher of “The Morgan Report” 3.12.22.
There is some free information and videos on the homepage of TheMorganReport.com. Click the “blog” tab in the black bar at the top of the page and go to The Morgan Report News. Click on the podcast tab and go to David Morgan’s podcast.
You can sign up with your email on the top right-hand side of TheMorganReport.com homepage for a free newsletter-no strings attached.
Soil sample locations and results for gold assays, Apex project.
Key Highlights:
Surface geochemical program completed August 2021 identified new gold in soil anomaly extending over one kilometer northeast of old workings.
Results up to 1.09 ounces per ton gold and 1.10 ounces per ton silver in soil samples.
Anomaly located downslope and along strike from the Apex Mine.
VANCOUVER, British Columbia, March 09, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that positive assay results from a sampling and mapping program carried out in August 2021 have been received and compiled. The soil sampling results indicate that known mineralization at the former-producing Apex Mine likely extends 1,000 meters to the northeast.
Millrock President & CEO commented: “These are excellent results that show the gold-bearing quartz vein structure known from historic mining has significant strike continuity. Some of the soil sample numbers are of exceptional tenor.”
The exploration work was completed during August 2021 and consisted of a soil geochemical survey (439 samples), rock sampling (39 samples), and geologic mapping. Soil samples were collected along a 20 meter by 40 meter spaced grid. The survey was designed to test the presence and extent of gold-bearing quartz veins along strike and down-valley from known gold mineralization at the historic Apex and El Nido Mines located within the Cann Creek drainage.
All assay results have been received from the exploration work. A broad gold in soil anomaly was identified by the geochemical survey in the lower cirque valley of Cann Creek. Assays of soil samples returned values ranging from below detection to a maximum of 33,900 parts per billion gold (1.09 ounces per ton) and 34,400 parts per billion silver (1.10 ounces per ton). One hundred and seven of the 439 samples collected returned highly anomalous values exceeding 80 parts per billion gold. The anomaly occurs at approximately 300 meters elevation below outcropping vein exposures that host the Apex Mine and extends over one kilometer down valley from the historic workings, along strike of the vein swarm. The anomaly is also underlain by the same rock units (diorite and amphibolite) that hosts the Apex vein.
On August 12, 2021, Millrock announced that it had entered into an agreement with Coeur Explorations, Inc., a wholly-owned subsidiary of Coeur Mining, Inc. (“Coeur”), concerning the Apex gold project in Southeast Alaska. Under the agreement, Coeur agreed to fund approximately $200,000 worth of exploration work. Coeur has met its obligations by funding the work, but has elected to terminate the option agreement. Millrock is free to further explore the project on its own or find another earn-in partner.
Millrock President & CEO Gregory Beischer commented: “We enjoyed working with the Coeur Explorations team and thank Coeur for advancing the project. The soil anomaly presents a compelling target for drilling and significantly expands the strike potential of the small, historic underground mine”.
Quality Control – Quality Assurance Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. In this case, the assay work was done under an agreement between Coeur and the assay laboratory. Samples are kept in a secure location at all times. Samples were assayed at the Bureau Veritas laboratory in Vancouver, Canada. Preparation and analysis methods are described in further detail here. The sample preparation method codes utilized for the program were SS80 for Soils and PRP70-250 for Rocks. Analytical methods used were FA430 (lead collection fire-assay fusion-AAS finish) and MA250 (4 acid digestion Ultratrace ICP-MS) for all samples. A 10% QA/QC sample insertion rate was used for all samples: 5% CRM (Certified Reference Materials) of known gold concentration and 5% blank material. The Qualified Person is of the opinion that the results reported in this press release are reliable.
Qualified Person The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
About Millrock Resources Inc. Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.
ON BEHALF OF THE BOARD “Gregory Beischer” Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations Toll-Free: 877-217-8978 | Local: 604-638-3164 Twitter | Facebook | LinkedIn
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to form earn-in joint venture agreements and to perform further exploration. 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.
Regular readers are well aware of how important I believe the DSI is. Frankly if you are a serious investor and have a substantial sum in the market, the information is the most valuable I am aware of. As Rick Rule likes to say, “You are either a contrarian or a victim.”
Since the MSM and Klaus Schwab demand we pay all our attention to what might be a make believe war in Ukraine you probably should be aware of the DSI numbers. Many are as extreme as any time that I can remember. If we were in a normal world these would be turning points either up or down. Since we don’t live in a normal world but a multi-part horror show led by the WEF, I can’t tell you what the numbers really mean today.
As of March 8th, the DSI is:
Gold
95
Silver
93
Platinum
90
Palladium
91
S&P
11
Nasdaq
13
Euro
9
(hit a low of 5 on the 6th and 7th)
Dollar
88
(hit a high of 92 on the 7th)
Crude
93
(hit 96 on the 6th and 7th)
Heating
93
(hit 97 on the 6th and 7th)
Gasoline
93
(hit 97 on the 6th)
Wheat
83
(hit 96 on the 6th and 7th)
CRB
93
(hit 95 on the 6th)
To me it suggests the possibility of a turn in all these commodities.
Gold futures jumped above $2,000 an ounce on Tuesday, extending its rise toward its highest price since August of 2020 as the war in Ukraine fueled bids for safe haven assets like bullion.
Meanwhile, palladium prices were running near an all-time high as the Ukrainian crisis in its second week, prompted a surge higher in the broad commodity complex.
April gold GCJ22, 2.47%GC00, 2.45% rose $18.90, or 1%, to $2,015.20 an ounce, following a 1.5% advance on Monday, which has put bullion at around the highest level in about 18 months, hitting a Tuesday peak at $2,027.80.Gold Continuous ContractSource: FactSetAs of March 8, 9:56 a.m. ETApril 2020’21’221,4001,5001,6001,7001,8001,9002,000$2,100
Despite the rally in gold, some market participants are skeptical about the continued upside in the precious metals. At least one strategist speculated that restrictions on purchasing crypto, such as bitcoin, would prompt Russia’s central bank to dump a chunk of its reserves of gold to get cash.
“The Bank of Russia, for the most part, has no other means but to sell off the gold from its reserves in Russia. These steps could be taken tomorrow, as Monday and Tuesday were national holidays [in Russia],” wrote Alex Kuptsikevich, a senior financial analyst at FxPro, in a Tuesday note.
Thus far, gold prices, and those for other precious metals, have been buttressed by doubts about central bankers’ ability to limit the rise in inflation in the face of the geopolitical tensions.
“Investors are liquidating their positions in risky assets and are hesitant to pump more capital into equity markets,” wrote Naeem Aslam, chief market analyst at AvaTrade, in a research note. “These dynamics have pushed the price of the yellow metals towards $2,000.”
Meanwhile, futures for palladium were rallying toward $3,000, with the white precious metal gaining $68.10, or 2.4%, to $2,970 an ounce, at last check, carving out a fresh all-time high.
A retreat in the dollar, down 0.2%, from a 2020 peak, as measured by the ICE Dollar Index DXY, -0.34%, also was helping to support purchases among overseas buyers.
