Miners Chopping $10 Billion Search Bodes Next Price Boom
By Elisabeth Behrmann and Rebecca Keenan January 17, 2014
Mining companies are extending massive cuts in exploration budgets for a second year, setting up the next price boom as China continues its relentless pursuit of metals and energy..
Link: http://www.businessweek.com/news/2014-01-16/mining-companies-cutting-10-billion-heralds-boom-commodities
Goldman's commodity trade 'too important' to quit: CFO
Thu Jan 16, 2014 2:04pm EST
(Reuters) - Goldman Sachs Group Inc (GS.N) reaffirmed its intent to remain in the commodities trading business, deeming it "too important" to clients to exit, a top executive said on Thursday..
Link: http://www.reuters.com/article/2014/01/16/us-goldmans-commodity-trade-idUSBREA0F1JG20140116
Greatest mining and energy wealth creation (and destruction) quotes
Posted on January 16, 2014 by Tommy Humphreys
Today is the one year anniversary of making this video with my brother..
I thought it would be a great opportunity to share some of my favourite mining and energy quotes, starting with one from Mr. Lowell, of course..:
Link: http://ceo.ca/greatest-mining-and-energy-wealth-creation-and-destruction-quotes/#more-19163
..
“If there’s anything my career says about me, it’s that I’m very good at being wrong.”
- Dave Lowell, Mining’s Greatest Explorer
”It’s the find, eh… You don’t really do things for the money. You do it to try to find something, eh.”
- Chuck Fipke, Founder, Dia Met Minerals
“Time is short. If you want to achieve much, you’ve got to run.”
- Peter Munk, Founder and Former Chairman, Barrick Gold
“If it’s the single minded pursuit of wealth that drives you, make sure you don’t really really care about family, friends or health. Go get the money, pile it up, then jump and that pile, and enjoy it, because that’s all you’ve got.”
- Brett Wilson, Co-Founder, First Energy Capital
“Whether it’s copper, whether it’s oil, whether it’s zinc, it’s a cyclical business, and you know that you’re going to get all of your money back in 2 or 3 good years. What you don’t know is when those 2 or 3 good years are going to be. However, if you have 50 years, you’re going to have those 2 or 3 good years 5 or 6 times.”
- Don Lindsay, President and CEO of Teck Corporation
“If you make rich people richer, they will make sure that you get rich.”
- Rick Rule, Chairman, Sprott Global
“One drill hole changes the game. It’s very hard to decide who gets to make it and who doesn’t. It’s a big gate, and yet very few make it through. But you have to let them try.”
- Lukas Lundin, Chairman, Lundin Group
“Even an idiot can make a great discovery and drive a stock from three cents to three bucks, and those guys wouldn’t get funded privately. It has to be public.”
- Ross Beaty, Founder, Lumina Capital Corporation
“I just want to remind you that the real wealth in the mining industry is generated by FINDING something.”
- Robert Friedland, Executive Chairman, Ivanhoe Mines
“Consider picking up a few shares as a speculation… Pack them away for your favourite nephew.”
- Robert Friedland, Executive Chairman, Ivanhoe Mines
“You will need a telescope to see how high the platinum price goes.”
- Robert Friedland, Executive Chairman, Ivanhoe Mines
“Nobody ever went broke taking a profit.”
- Bob Moriarty, Pilot and Editor, 321Gold.com
“I would prefer to sell my shares to a smart buyer, but I’ll take dumber.”
- Brent Cook, Geologist and Editor, Exploration Insights
“It was 1982 and we had nothing except enthusiasm to go with.”
- Frank Giustra, Former Chairman and CEO, Yorkton Securities
“There’s no shortage of good promoters out there, but there’s a massive shortage of delivery on the promote.”
- Clive Johnson, Founder and CEO, B2Gold
“Junior mining companies are like a shark. When they stop swimming, they’re dead.”
- Nolan Watson, President and CEO, Sandstorm Gold
“A gold mine is a hole in the ground with a liar on top.”
- Mark Twain
“The game of golf and the biz of gold have their similarities. Both have holes. Both seem futile. Both require great dedication. Only difference is, in gold mining, you get to change your lie.”
- Thom Calandra, Editor, The Calandra Report
”It’s like standing in the middle of a lake so big you can’t see to either side.”
- Frank Callaghan, CEO, Barkerville Gold Mines
“Nobody was going to feed me, and I had a large appetite.”
Hy Aisenstat, Founder, Hy’s Restaurants
“Never let the sun set on a bid!”
- Anonymous broker
Goldman’s Currie still looking for $1050 gold, bearish on all commodities
Goldman Sachs’ Jeffrey Currie remains bearish on virtually all commodities, but particularly so on gold reiterating his prediction of last year that gold will fall to $1050 by end 2014..
Link: http://www.mineweb.com/mineweb/content/en/mineweb-gold-analysis?oid=225269&sn=Detail
"Comex Registered Gold fell 89K oz to new low. Open Interest is record 104X higher."
EXCLUSIVE – Shortage of large gold bars leads to rare London premiums
Posted on January 15, 2014 by Eddie van der Walt London 15/01/2014
The London bullion market has seen intermittent shortages of 400-ounce bars, traders in the City told FastMarkets, pushing premiums for physical delivery for these large bars as high as 50 cents..
http://www.fastmarkets.com/gold-news/69679-0-en
Contrarians’ Wildest Dream Coming True
by Jeff Clark - Casey Research - Published : January 15th, 2014
As most readers know, Doug Casey's most notable characteristic as an investor is his highly successful contrarian nature. It's how he bagged some of his biggest wins—not just doubles and triples, but 10- and 20-fold returns...
Link: http://www.24hgold.com/english/news-gold-silver-contrarians-wildest-dream-coming-true.aspx?article=5096234762H11690&redirect=false&contributor=Jeff+Clark&mk=1
Loonie is world’s worst performing currency as it drops 3.1% in first two weeks of 2014
Malcolm Morrison, Canadian Press | January 15, 2014 9:12 AM ET
TORONTO — The Canadian dollar drifted lower Wednesday morning amid general U.S. dollar strength..
Link: http://business.financialpost.com/2014/01/15/loonie-is-the-worlds-worst-performing-currency-after-dropping-3-1-in-first-two-weeks-of-201/
23 Reasons To Be Bullish On Gold
Submitted by Tyler Durden on 01/08/2014 20:58 -0500 - Submitted by Laurynas Vegys via Casey Research
It's been one of the worst years for gold in a generation. A flood of outflows from gold ETFs, endless tax increases on gold imports in India, and the mirage (albeit a convincing one in the eyes of many) of a supposedly improving economy in the US have all contributed to the constant hammering gold took in 2013.
Perhaps worse has been the onslaught of negative press our favorite metal has suffered. It's felt overwhelming at times and has pushed even some die-hard goldbugs to question their beliefs… not a bad thing, by the way..
To me, a lot of it felt like piling on, especially as the negative rhetoric ratcheted up. Last year's winner was probably Goldman Sachs, calling gold a "slam-dunk sale" for 2014 (this, of course, after it's already fallen by nearly a third over a period of more than two and a half years—how daring they are).
This is why it's important to balance the one-sided message typically heard in the mainstream media with other views. Here are some of those contrarian voices, all of which have put their money where their mouth is…
..
Link: http://www.zerohedge.com/news/2014-01-08/23-reasons-be-bullish-gold
Settlement Date Short Interest Avg Daily Share Volume Days To Cover [SHORT POSITIONS NYSE.TC]
12/31/2013 28,767,184 2,371,096 12.132442
Link: http://www.nasdaq.com/symbol/tc/short-interest
Goldcorp legt Übernahme-Angebot für Osisko vor - Erster große M&A-Transaktion im Gold-Sektor in 2014 in Aussicht
Mit einem Paukenschlag werden die kanadischen Börsen heute eröffnen. Letzte Woche noch darauf hingewiesen, dass der M&A Sektor im Minen- und Gold-Bereich in 2014 kräftigen Auftrieb erhalten könnte. Nun bahnt sich der erste Hammer-Deal in 2014 an. Sehr gute News für den Junior-Sektor und alle besonders preissensiblen Gold-Produzenten..
Link: http://rohstoffaktien.blogspot.de/2014/01/goldcorp-legt-ubernahme-angebot-fur.html
Monetary Tectonics Inflation vs Deflation Chartbook by Incrementum
Link: http://www.scribd.com/doc/197725461/Monetary-Tectonics-Inflation-vs-Deflation-Chartbook-by-Incrementum
JPM commodity unit sale down to final bidders
'Big money' entering resources, precious metals: Rick Rule
Sprott Group | January 13, 2014
Rick Rule, Chairman of Sprott Global Resource Investments Ltd., says some of the ‘big money’ that was circling the resource sector has finally found a home. Rick Rule recently commented on a couple of new investment mandates that he believes signal a positive development in the resource sector..
..
"..Our new partners are long-term investors with the intention to stay in the natural resources business. […] These new type of investors are more focused and long-term participants with financial and strategic objectives, with the design of providing the raw materials for the development of their respective countries.."
..
Link: http://www.silverstrategies.com/story.aspx?local=1&id=44294
Colossus Files Notice of Intention Under Bankruptcy and Insolvency Act
TORONTO, ONTARIO--(Marketwired - Jan. 14, 2014) - Colossus Minerals Inc. (TSX:CSI)(OTCQX:COLUF) ("Colossus" or the "Company") As indicated previously, the Company was unable to rectify its inability to make the December 31, 2013 interest payment on the Convertible Gold Linked Notes ("Notes") prior to the close of business on January 10, 2013..
Link: http://www.colossusminerals.com/media/Press-Releases/Press-Release-Details/2014/Colossus-Files-Notice-of-Intention-Under-Bankruptcy-and-Insolvency-Act/default.aspx
Colossus Minerals: Epischer Absturz gipfelt in Ressourcen-Malheur
Bei der spektakulären wie traurigen Story um den Niedergang des einsteigen high-grade Highflyers Colossus Minerals (T.CSI) scheint(e) eigentlich nichts mehr zu verwundern. Heute jedoch schafft es die Gesellschaft erneut Verblüffen, Schock und Resignations-Zustände in die Gesichter von vielen Marktteilnehmern zu zaubern. Schließlich haben die Colossus-Story viele Involvierte im Junior- und Minen-Sektor während der letzten Jahre mehr oder weniger intensiv verfolgt..
.. "..Die Insolvenz-Anmeldung steht vor der Tür.." ..
Link: http://rohstoffaktien.blogspot.de/2013/12/colossus-minerals-epischer-absturz.html
First Majestic becomes a Senior Silver Producer; Produces 10.64M Ounces of Silver in 2013; Projects 12.70M to 13.35M Ounces of Silver in 2014
First Majestic Silver Corp. ("First Majestic" or the "Company") is pleased to announce the Company's fourth quarter and full year 2013 production results..
Link: http://www.firstmajestic.com/s/NewsReleases.asp?ReportID=619319&_Type=News-Releases&_Title=First-Majestic-becomes-a-Senior-Silver-Producer-Produces-10.64M-Ounces-of-S...
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| Quelle: bigcharts.com |
Arab shoppers buy into gold as asset theory
They are using DSF promotions to diversify their asset base
Dubai’s jewellery trade is striking a rich vein of demand from a relatively new shopper demographic – the (non-GCC) Arab – during the ongoing Dubai Shopping Festival (DSF) sales cycle. The increased buying activity from this consumer base — both resident and visitors — is also translating into higher value purchases on their part, market sources say.
“There is a clear spike in gold and jewellery related purchases from non-GCC Arab shoppers — and particularly Syrians, Iranians or Egyptians — in recent weeks, a trend which first became evident in November but since January 2 is becoming quite significant,” said Shamlal Ahmad, director of international operations at Malabar Gold.
“The impression is that these shoppers are buying into gold as a sort of defensive asset against social or economic uncertainties in their home countries. In particular, they are going for 22-carat which was never their preference earlier.”
The Arab Spring and the events since had gone on to benefit Dubai’s economy across multiple layers, with its real estate being a prime beneficiary. Now, it seems, one of the key categories in Dubai’s retail sector — gold and jewellery — is on the cusp of a major gain from the Arab asset purchase flow.
Last year was a roller-coaster one for the gold market here, the first five months proved exceptionally strong but in the second-half it was a more subdued affair. Shoppers were put off by gold price’s sharp decline and did not want to be seen buying when there was every chance that it could drop further.
The fourth quarter of 2013 was particularly testing. But, now, with gold prices seeming to have settled in at the $1,200 an ounce mark, buyers are heading back to the shops. Since January 2, when DSF 2014 opened, outlets in Dubai have been recording daily sales of 200kg and over.
“The market has rebounded strongly from the lows that were seen during the last weeks of 2014,” said Sunny Chittilappilly, chairman of Dubai Gold & Jewellery Group. “The bull run is expected to continue over the next few weeks. While this can be attributed to a large extent on the DSF promotion, I feel that customers in Dubai are very strongly disposed towards buying gold.”
Ahmad says improved sentiments are clearly reflected in the increased use of credit cards to fund transactions. “In the last 10 days or so, there is a shift towards credit card led purchases where earlier cash was favoured,” said Ahmad. “What this does is that shoppers are willing to go in for higher value purchases per transaction and mirrors consumer confidence. There is a clear improvement from what it was in November or December..”
Link: http://m.gulfnews.com/business/arab-shoppers-buy-into-gold-as-asset-theory-1.1276400
Timmins Gold Surpasses Guidance With Record Production of 120,900 AuEq ozs in 2013 and 34,563 ozs for the Fourth Quarter of 2013
01/13/2014 | 06:01am US/Eastern
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 13, 2014) - Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) is pleased to report preliminary production results for the Company's fourth quarter ended December 31, 2013. The Company achieved record production of 34,563 gold equivalent ounces* for the quarter and 120,900 gold equivalent ounces for the year which represent increases of 39% and 27% over the prior comparative periods..
Link: http://www.4-traders.com/TIMMINS-GOLD-CORP-1411958/news/Timmins-Gold-Surpasses-Guidance-With-Record-Production-of-120900-AuEq-ozs-in-2013-and-34563-ozs-fo-17801032/
Goldcorp announces offer to acquire Osisko for C$5.95 per share in cash and shares
January 13, 2014 - TSX: G NYSE: GG - (All Amounts in U.S. dollars unless stated otherwise)
VANCOUVER, Jan. 13, 2014 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) today announced that it intends to commence an offer to acquire all of the outstanding common shares of Osisko Mining Corporation ("Osisko") (TSX: OSK, Deutsche Boerse: EWX) for approximately C$2.6 billion in cash and shares (the "Offer")..
Link: http://www.goldcorp.com/English/Investor-Resources/News/News-Details/2014/Goldcorp-announces-offer-to-acquire-Osisko-for-C595-per-share-in-cash-and-shares/default.aspx
