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What Isn't Imploding Now Wednesdays With Andrew Hoffman:
Silver above 200 DMA ($15.96) for first time in five months. Gold ($1,176) knocking on the door.
Peak gold confirmed by Goldcorp
$2.7 trillion of lost debt by Fed
Earnings season starts miserably, time for commodity/shale producers to pay the piper
End of the belief that central banks can save us.
*This Motivational Monday we have Pastor David Anthony Clarke Topic: IDS (Inquiry Defiency Syndrom). He takes a exerts from in Best Selling Book," Are There Any Questions? Living and Leading With An Inquisitive Spirit" In this teaching it further teaches us how to ask questions, weighing all of the options, to turn everything around. He tells the story of Rob McEwen, chairman and CEO of Goldcorp Inc., based in Toronto, had triggered the gold rush by issuing an extraordinary challenge to the world's geologists: We'll show you all of our data on the Red Lake mine online if you tell us where we're likely to find the next 6 million ounces of gold. The prize: a total of $575,000, with a top award of $105,000.
*Also, on this Motivational Monday you will hear Episode 12 of the S.C.A.M. comedy segment.
The Host will bring it home with "Focusing On The Things That Matters" he will talk about focusing on your tasks, dreams, goals and family. Not allowing the "Things That Doesn't Matter" steal your focus. This can be tragic to a person Purpose in Life
Chris Crupi, CEO of Paramount Gold and Silver (PZG) has just come back from meetings with Asian investors where there is major demand for gold and silver mining assets in North America. Asian investors should continue diversifying away from U.S. dollars and bonds into real wealth in the earth which is trading at multi-year lows. In addition, the majors such as Barrick, Newmont, Goldcorp, Fresnillo and Coeur D'alene may start looking for low cost projects with the ability to produce at least 100-200k ounces a year. Paramount may be one of the best junior miners out there today that fits that profile. Between the San Miguel Project in the heart of the famous Sierra Madre District and the Sleeper Project in the center of mining friendly Nevada, Paramount Gold and Silver should be an acquisition target on the radar of the intelligent mid-tier producers.
Disclosure: Author Is Long Paramount and the company is a sponsor on my website.
Paramount Gold and Silver (PZG) has been very busy this summer exploring its world class San Miguel Project which completely encompasses one of the top operating silver mines in the world operated by Coeur D'Alene.
Paramount's San Miguel Property is located in The Sierra Madre Gold-Silver Belt. This area of the world is attracting major interest from the big boy miners such as Pan American Silver, Goldcorp, Agnico Eagle Mines, Alamos Gold, Argonaut Gold and the world's richest man Carlos Slim's Minera Frisco who recently acquired the 4.6 million ounce Ocampo Mine.
Paramount's high grade 3.3 million ounces are extremely desired by the major players especially their next door neighbor Coeur D'alene. When this market turns I believe Paramount could be one of the best takeover targets for a major looking to expand in one of the best and low cost areas to mine in the world.
Paramount's San Miguel already has a published Preliminary Economic Assessment which showed an asset highly competitive and arguably more economic than some of the other miners that were acquired or are currently producing in the Sierra Madre Belt. The PEA at San Miguel showed an impressive average gold equivalent grade of 3.18 g/t and positive metallurgical recoveries of over 90% for the gold open pit and 80% for the silver open pit. Even in a lower gold case scenario the mine would be economic with a 24.5% IRR at $1300 gold and $25 silver. Cash costs are around $513 at that level.
Disclosure: Author Owns PZG and company is sponsor on author's website.
Everton Resources is a well- funded exploration company that has its primary focus on its gold, silver and copper properties in the Dominican Republic. With land claims more than 300 km², next door to the same geology as the mining project that has $3.3 Billion dollar investment in the Pueblo Viejo project, currently being developed by the world's largest gold mining companies, Barrick Gold Corp. (60%) in partnership with Goldcorp (40%).
CEO Andre Audet discusses drilling progress and the company's strategic direction.
This week on Modern Girl's Guide to Sex, Love and Money, we're into gold. U.S. Gold Chairman and CEO Rob McEwen has tapped gold. The share price is up 500% this year and that could just be the beginning. After all, this 20-year gold veteran took Goldcorp from $500 million to its current value of over $30 billion. Find out why McEwen thinks the gold runup is just beginning.