Freitag, 26. Februar 2016

Gold: Handelsvolumen an der Terminbörse COMEX auf Rekordhoch

Die stärkste Februar-Rally bei Gold seit über 25 Jahren spiegelte sich auf der COMEX wider:


Preiskampf in der Öl-Industrie: Größter Öl-Produzent in North Dakota stoppt Fracking

Saudi-Arabien erzielt einen weiteren Fortschritt im extremen Preiskampf in der Öl-Industrie:

In Biggest Victory For Saudi Arabia, North Dakota's Largest Oil Producer Suspends All Fracking

Tyler Durden's picture

Yesterday, during his speech at CERAWeek in Houston, Saudi oil minister Ali al-Naimi made it explicitly clear that Saudi Arabia would not cut production, instead saying that it is high-cost producers that would need to either "lower costs, borrow cash or liquidate” adding that there is "no need for cuts as marginal barrel will get out of the market." He was right. 
Today his wish is slowly coming true after news that North Dakota's largest producer, Whiting Petroleum, would suspend all fracking, and that Continental Resources has effectively done the same after reporting that it no longer has any fracking crews working in the Bakken shale..

Gold-Fonds: Höchste Zuflüsse seit 2009

Im großen Stil kehrt das Interesse an Gold bei den institutionellen Investoren in 2016 zurück..

Quelle: BoFAML Global Research

Donnerstag, 25. Februar 2016

USA, Öl-Industrie: Angst vor großer Insolvenz-Welle nimmt zu

Der historische Ölpreis-Crash zwingt die hochverschuldete, amerikanische Fracking-Branche in die Knie. Hierzu ein aktueller Bericht von Bloomberg:

Biggest Wave Yet of U.S. Oil Defaults Looms as Bust Intensifies

February 25, 2016 — 3:15 AM CET

In less than a month, the U.S. oil bust could claim two of its biggest victims yet.

Energy XXI Ltd. and SandRidge Energy Inc., oil and gas drillers with a combined $7.6 billion of debt, didn’t pay interest on their bonds last week. They have until the middle of next month to either pay the interest, work out a deal with their creditors or face a default that could tip them into bankruptcy.

If the two companies fail in March, it would be the biggest cluster of oil and gas defaults in a month since energy prices plunged in early 2015

London Metal Exchange (LME): Aktuelle Lagerbestände der Basismetalle

Die Lagerbestände von Kupfer an der LME gehen seit einigen Wochen deutlich zurück..

Quelle:, LME

Hier ein Überblick über die aktuellen Lagerbestände von allen wichtigen Industriemetallen:

Quelle: LME, Market Realist

Zink: Chinesische Importe ziehen im Januar massiv an

Die Nachfrage nach Industriemetallen aus dem Reich der Mitte zieht wieder deutlich an:

China zinc imports more than double in January

China’s refined metal imports increased in January, with zinc purchases up 150% from the same month last year amid an emerging shortage after the country’s smelters pledged to cut output.

The world’s biggest consumer imported 59 283 metric tons in January, according to customs data on Monday. While lower than in December, which saw the highest monthly volume since 2009, the figure is similar to the 60 000 tons that the nation imported in the three months through January last year..

Mittwoch, 24. Februar 2016

Gold: ETF-Käufe explodieren auf 6-Jahreshoch

Die Gold-ETFs erhalten seit Jahresstart massive Zuflüsse. Hierzu ein aktueller Bericht von

Gold price: ETF buying surges to 6-year high

In heavy volume, April gold futures in New York’s Comex market were last exchanging hands for $1,240.40 an ounce, down from a high of $1,254 shortly after data showed the services sector in the US against expectations plunging into deep contractionary mode and coming in at the lowest reading since October 2013. Services constitute more than three-quarters of the US economy.

Gold is experiencing one of its best starts to a year in decades. The metal is up 18% year to date thanks to safe haven buying as investors seek cover from turmoil on financial markets, worries over the economic outlook and the push by central banks around the world into unprecedented negative interest rate territory

Since the beginning of February, more gold has flowed into the ETFs than was withdrawn in the whole of last year..

Quelle: MarketRealist, Comex

Neues Interview mit Ronald Stöferle über Stagflation, Geldpolitik, Gold und Silber

Hörenswertes Interview:

TerraX Minerals erzielt neue high-grade Gold-Discovery auf dem Yellowknife City Gold-Projekt

Gold-Explorer TerraX Minerals (V.TXR) beginnt die Drilling-Saison 2016 mit einem wahren Paukenschlag. Die solide finanzierte, kanadische Gesellschaft erzielt auf dem Yellowknife City Gold-Projekt eine neue, sehenswerte high-grade Gold-Discovery.

Auf dem Mispickel Bohrziel der Walsh Lake Liegenschaften traf TerraX Minerals zuletzt ins Schwarze. Sowohl die Gold-Gehalte, als auch die Dicke der getroffenen Gold-Mineralisierungen können sich sehen lassen. Zudem befinden sich die getroffenen Gold-Adern nicht weit unter der Erdoberfläche, was die jüngste Gold-Discovery noch attraktiver macht.

Werfen Sie einen Blick auf die aktuellen Drilling-Highlights und die Maps unten:

  • 7.30 m @ 23.60 g/t Au, including 4.55 m @ 37. 29 g/t Au in the main zone of hole TWL16-002
  • 8.60 m @ 12.87 g/t Au, including 5.45 m @ 18.24 g/t Au in the main zone of hole TWL16-001, and
  • 11.32 m @ 2.14 g/t Au, including 2.10 m @ 5.92 g/t Au in a footwall zone of hole TWL16-001.
  • - See more at:
    • 7.30 m @ 23.60 g/t Au, including 4.55 m @ 37. 29 g/t Au in the main zone of hole TWL16-002
    • 8.60 m @ 12.87 g/t Au, including 5.45 m @ 18.24 g/t Au in the main zone of hole TWL16-001
    • 11.32 m @ 2.14 g/t Au, including 2.10 m @ 5.92 g/t Au in a footwall zone of hole TWL16-001

    TerraX drills 7.30 m @ 23.60 g/t Au and 8.60 m @ 12.87 g/t Au in discovery holes at Mispickel Target, Yellowknife City Gold Project

    Vancouver, B.C. - TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) has received assay results from the initial two holes of a four hole drill program testing quartz vein and replacement style mineralization at the Mispickel target on its Walsh Lake property of the Yellowknife City Gold Project ("YCG"), immediately north of Yellowknife in the Northwest Territories. The two holes reported today were both drilled on the same section and intersected..

  • 8.60 m @ 12.87 g/t Au, including 5.45 m @ 18.24 g/t Au in the main zone of hole TWL16-001, and
  • 11.32 m @ 2.14 g/t Au, including 2.10 m @ 5.92 g/t Au in a footwall zone of hole TWL16-001.
  • - See more at:


    Gold-Explorer TerraX Minerals startet neues Bohrprogramm auf Yellowknife City Gold-Projekt

    TerraX Minerals (V.TXR) startet mit vollen Kassen und großen Ambitionen ins neue Jahr. Heute gab der erfolgreiche Gold-Explorer die Fertigstellung der Bohrarbeiten auf dem Mispickel Target (Walsh Lake) bekannt. Auf diesem Bohrziel hat TerraX 4 Bohrlöcher mit einem Gesamtumfang von 383 Metern in zwei Parallel-Sektionen fertiggestellt. Die Ergebnisse werden in den nächsten 6 Wochen erwartet..

    Kupfer-Markt: Chancen für Angebotsdefizit wachsen

    Hierzu ein aktueller Bericht von Platts:


    Washington (Platts)--23 Feb 2016 848 am EST/1348 GMT

    The global refined copper market for November 2015, excluding changes in China's bonded stocks, showed a small apparent production deficit of around 25,000 mt, according to preliminary data released Monday by the International Copper Study Group.

    When making seasonal adjustments for world refined production and usage, November showed a small production surplus of 20,000 mt, the Lisbon-based research group said.

    The refined copper balance for the first 11 months of 2015, including revisions to previously released data, indicates a production surplus of around 50,000 mt (and a seasonally adjusted surplus of about 170,000 mt).

    That compares with a production deficit of around 545,000 mt (a seasonally adjusted deficit of about 430,000 mt) for the same period of 2014..


    Dienstag, 23. Februar 2016

    Barrick Gold: Unternehmensvisionen und Strategieeinblicke von Chairman John Thornton

    Lesenswerte Worte vom Chairman des größten Goldproduzenten der Welt beim Investor Day:

    Chairman John Thornton Outlines Vision and Strategy at Investor Day

    Remarks by Chairman John Thornton at Barrick's Investor Day on February 22, 2016, broadcast live via webcast. You may also listen to a recording of the remarks.

    Good morning everyone and thank you for joining us.

    This will be a little bit unusual for me—I’m going to work off a script, so that it’s crystal clear what I want to get across, and we can hand it out to you later on if you don’t want to take notes.

    This is our first investor day in five years. From now on we will have this day every other year or possibly even every year, depending on the circumstances, and whether or not you all are interested in it. This will be one of a number of steps we will take to be transparent and build trust with you.

    Transparency is the currency of respect. It is a core feature of a company founded on a culture of partnership. As your partners and fellow owners, we will be straightforward and open with you, so that you understand and believe in the process by which we arrive at our decisions.

    For example, one of the things we will be showing you today is the sensitivity of our significant mineral resource base to both higher and lower gold prices. We carried out this analysis not only to improve our own understanding of our resources, and allow for better planning—just as importantly, we wanted to provide you, our partners and fellow owners, with a clearer picture of our mineral endowment and how it is affected by changing gold price assumptions. We want you to have a very clear understanding of the options we have from our current assets.

    A year ago, we told you we would bring Barrick "back to the future"—which meant we would recapture and make relevant the original, authentic DNA of this company as existed when Peter Munk and his partners created it. Specifically, the phrase referred to re-establishing four core strands: one, a partnership culture; two, a lean, nimble, decentralized business model; three, an intensive focus on creating long-term value as measured by cash flow per share; and four, financial rigor and prudence as evidenced by discerning portfolio management and a healthy balance sheet.

    The best and most important news of the year—we did exactly what we said we would do.

    We reduced our debt by $3 billion, nearly a quarter of our total debt.

    We reduced our all-in sustaining costs from $864 to $831 per ounce.

    We simplified our head office, eliminated management between it and the mines, and accelerated the pace at which information flows between them.

    We pared down our portfolio, implemented a new system for allocating capital with strict investment criteria, and sold, canceled, or deferred several projects that did not meet those requirements.

    I want to spend a few moments on our partnership culture and our renewal of talent.

    As you know, we have intentionally eschewed the traditional hierarchical organizational model, in favor of our authentic partnership model. We believe that complex matters are better understood and managed by a team of partners working together, especially in assessing and reducing risk. Kelvin, as president, is, by definition, the primus inter pares within the partnership.

    Five of our seven most senior partners have joined Barrick in the last fifteen months. We also identified truly outstanding talent within Barrick and made them partners—in particular, people with exceptional technical talent or a demonstrated ability to build relationships of trust with host governments and other partners.

    At the Board level, we will be announcing two new non-executive directors in the upcoming Proxy. These are in addition to the two directors we recently appointed, Rob Prichard and Kelvin. As of the Proxy, assuming all directors are elected, eight of my fellow thirteen directors will have joined the Board since I became Chairman, and three of those eight have spent their entire careers in mining—taken together they have 115 years of experience in the industry. Those facts give you an indication of the scale and the pace at which we are attracting talent and building a first-class team.

    All of our partners will, over time, become meaningful owners whose net worth is tied to the shares. It is our intention that, over time, every single person at Barrick will become a shareholder and owner.

    We have also put in place a structure for governance and management that makes best use of our talent and ensures that your focus is our focus. The Board, as owners and as the voice of all owners, sets the company’s priorities in keeping with its purpose and values. It is then my job—as Chairman, as representative of the Board and the owners, and as a meaningful owner myself—to ensure that the partnership executes on those priorities to the highest possible standard.

    I do this through a weekly meeting I chair of our seven most senior partners. We go around the table, one by one, and I monitor progress, clarify any confusion, and emphasize priorities. The discussion begins with our obsession with talent, engaging Darian Rich, and proceeds to an insistence on best-in-class with Richard Williams; portfolio optimization with Kevin Thomson; financial prudence and capital allocation with Shaun Usmar; and strategy and intellectual underpinning with Catherine Raw and her searing voice of the owner. I’d like to say about Catherine, you can take the woman out of
    BlackRock, but you can’t take BlackRock out of the woman—and that’s very good news for all of us in this room.

    The discussion then proceeds to the strength of our partnerships, and ends with new or outstanding priorities with Kelvin and Kathy Sipos. These discussions are collective, open, spirited, and lengthy. On occasion, they are supplemented with other partners to address particular projects of concern or opportunity. For instance, special discussions on cost-containment at Pascua-Lama, or a review of the detailed facts underlying a decision on whether to sell part or all of a specific asset, or a review of the details of how we are handling the management of a particularly sensitive relationship with any number of partners.

    All of this continues in 2016. The approach I just outlined is how we will stay true to our original, authentic DNA—how we will ensure that the fundamental endures and never changes.

    It is also helpful and healthy to cast our collective eye on the longer term future.

    We start with one immutable truth—everything we do is focused on one goal: creating, in a responsible manner, value per share for our owners, as measured by cash flow per share.

    In a minute, you will hear in some depth what one might call the base case for how we will achieve this over-arching objective. In itself, that base case is solid, impressive, and reassuring. It rests on two fundamental principles.

    One is a profound understanding of and commitment to the idea that in the twenty-first century, our core business is building partnerships of depth and trust with host governments, local communities, NGOs, indigenous people, and others. At their invitation and with their support, we are permitted to take their minerals out of their ground, and in so doing create wealth for all. Two of our recent appointments to the Board, Brian Greenspun and Mike Evans, were made in meaningful part because of their extensive experience building exactly these kinds of relationships. Also, one of the two new non-execs has similar world-class experience.

    The other foundational principle of the base case is a relentless commitment to operational excellence, such that we will bring down our all-in sustaining costs to below $700 per ounce by the end of 2019.

    However, we must and we will go beyond that base case. We will do so primarily in two ways.

    One, we will, over time, prove to you that we are not only discerning sellers—as we began to demonstrate this past year with the sale of various interests in seven of our assets, accomplished, as we all know, in difficult markets. We will demonstrate that we are also discerning buyers, capable of consistently creating per share value for our owners.

    Two, we will also, over time, transform Barrick into a mining company for this century by reconceptualizing the essence of how one builds value in the industry.

    We have already intentionally chosen a model that is different from our peers. I am reminded of John Templeton’s admonition, "If you want superior performance, you must be different."

    We agree. It is who we are and who we were—until we lost our way in recent years. It is in Barrick’s authentic DNA.

    We will embody that DNA in a way that is all the more relevant by making the best use of technology and data, embedding it into our every fiber. It will make us better, it will make us faster—and it will make us safer. We will do this carefully, deliberately, and with an uncompromising eye on return on invested capital. But we will do it.

    In the end, we want to be among the very best twenty-first century companies, not just in our industry, but in any industry.

    In the fullness of time, we believe Barrick will be both the lowest-risk investment of its kind and the one creating the most value.

    The gold mining sector has yet to drag itself out of the last century, and at Barrick we are restless. We will be a twenty-first century mining company—one creating value for all owners, with conviction and the courage to be different.

    As Kelvin indicated earlier, I will be happy to take your questions when we get to the end of this section, or at any time over the course of the day—feel free to pull me aside.

    And thank you very much for listening.


    BHP Billiton: Kredit-Rating und Übernahmen haben Top-Priorität

    Nach der erwarteten Dividenden-Kürzung rücken potentielle Übernahmen beim Minengiganten BHP Billiton (BHP) wieder in den Fokus. Top-Priorität wird natürlich weiterhin auf die Bilanzlage und das Kredit-Rating gelegt. Hierzu ein aktuelles Update von SeekingAlpha:

    BHP dividend cut, lower capex adds $10B boost to M&A war chest

    Feb 23 2016, 10:38 ET | About: BHP Billiton Limited (BHP) | By: Carl Surran, SA News Editor
    • BHP Billiton (BHP -3.7%) is sharply lower after slashing its interim dividend by a steeper than expected 74%, abandoning its longtime policy of steady or higher payouts, and reporting its first net loss in more than 16 years.
    • The dividend policy change is expected to save $6B; combined with $3.5B coming from reduced capex and $1B from lower costs, BHP should have an additional $10B cash at its disposal by July 2017, which CEO Andrew Mackenzie says will give the company more M&A firepower, with oil and copper the main targets.
    • BHP says deals are now a priority over internal projects, as the price collapse squeezes competitors and creates rare opportunities to acquire quality assets, although CFO Peter Beaven adds that the company has a “very high hurdle for assets that make it into our portfolio."

    Goldminen-Index HUI: Überschreitung von wichtiger Widerstandsmarke

    Der bekannte Goldminen-Index HUI steht kurz davor, die Überschreitung der markanten Widerstandsmarke bei 160 Index-Punkten, zu bestätigen..


    Montag, 22. Februar 2016

    Minenkonzerne: Am Ende des Bärenmarkt-Zyklus angekommen?

    Es spricht mehr und mehr dafür, dass die Minenkonzerne das Schlimmste überstanden haben..

    Quelle: Investec

    The Top 3 Most Visited JRB Blog Posts This Week Are..

    3. Gold-Explorer TerraX Minerals aktiviert zweites Bohrgerät für das Sam Otto Bohrziel auf dem Yellowknife City Gold-Projekt

    2. USA, Aktienmarkt: Größter Short Squeeze seit 2008 beflügelt Dow Jones und S&P 500

    1. Gold: Entwicklung der chinesischen Nachfrage und der inländischen Minenproduktion

    Eisenerz: Beste Handelswoche seit April 2015

    Der Eisenerzpreis erreicht ein neues Jahreshoch und befindet sich jetzt schon 25% über dem Tiefstand von Mitte Dezember 2015..