Category: Mining
1471 Posts
POSTED ON October 23, 2014 BY CEO Technician

An especially brutal round of hedge fund/mutual fund tax loss selling this week (most fund companies have fiscal years that end on October 31st) has sent gold mining shares tumbling to levels not seen since the 2008 Global Financial Crisis (GFC): Click to enlarge NYSE Arca Gold Bugs Index   Gold shares have performed poorly since… Continue Reading

POSTED ON October 22, 2014 BY James Fraser

Nelson Bunker Hunt passed away this morning at the age of 88 after a battle with Alzheimers disease. Nelson and his brother  W. Hebert Hunt are famous for trying to corner the silver market back in 1980. The Hunt brothers managed to drive the price of silver to a record high of $49.45 per ounce… Continue Reading

POSTED ON October 22, 2014 BY Travis McPherson

A relatively unknown European-focused gold developer called Euromax Resources (EOX:TSXV) has a market cap of just $26 million, but yesterday it secured a $175 million streaming deal with the world’s largest gold streamer, Royal Gold. That’s nearly 8x its current market cap. Euromax’s management is made up of most of the former European Goldfields executives who sold that… Continue Reading

POSTED ON October 21, 2014 BY Travis McPherson

In what looks to be a classic example of “first mover advantage’, the billionaire Lundin family is acquiring one of the best gold projects in the world, in the worst market in decades. Lukas Lundin’s Fortress Minerals is acquiring the Fruta del Norte (FDN) gold project in Equador from Kinross Gold for $240 million in cash and stock.  The… Continue Reading

POSTED ON October 21, 2014 BY Travis McPherson

As reported earlier (here), billionaire Swede Lukas Lundin has been in talks with Kinross and the Ecuadorian government for a potential deal on the infamous high-grade gold deposit known as Fruta del Norte. After 5,200 shares traded today, the Lundin Group shell, Fortress Minerals (FST.H:TSXV) was halted pending news. As we speculated earlier, this would… Continue Reading

POSTED ON October 21, 2014 BY Tommy Humphreys

Pioneering Yukon mineral and mushroom prospector Shawn Ryan hosted Bob Simon of 60 Minutes recently. The media love Mr. Ryan. He made the cover of New York Times in 2012, and now he’s been immortalized on the most successful TV newsmagazine in history. “The norm is to fail,” Ryan told Simon on prospecting. “If you play one… Continue Reading

POSTED ON October 21, 2014 BY Travis McPherson

NGEx Resources (NGQ:TSX) is the only pure-play mineral exploration vehicle in the Lundin Group of Companies, one of the most successful natural resource development groups in the world. NGEx is developing a trio of staggeringly huge copper deposits on the Chilean-Argentine border that contain a total of over 28 billion pounds of copper and 19 million ounces… Continue Reading

POSTED ON October 20, 2014 BY Travis McPherson

The opportunity to buy a $1 bill and pay only $0.50 for it was created earlier this year in the shadow of the largest gold M&A deal of the year. The $3.6 billion acquisition of Osisko was announced in April when Goldcorp made a hostile offer for the Canadian gold miner and ultimately saw Agnico-Eagle/Yamana jointly outbid… Continue Reading

POSTED ON October 17, 2014 BY CEO Technician

I will have a full market summary out on Sunday but for now I found two of this afternoon’s Commitments of Traders (CoT) reports to be quite curious; small speculators have moved to a record short position in gold futures (net short 6,592 contracts for a notional value of roughly $818 million), while total speculative… Continue Reading

POSTED ON October 16, 2014 BY CEO Technician

Ten days ago before all the recent fun started we penned a piece entitled “2008 Redux?”. The main point of this piece was to highlight the striking similarities between the current market and the lead up to the 2008 market meltdown. Most notably we just witnessed one of the worst months ever (September) for commodities… Continue Reading

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