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2019 full year and Q4 results for miners

Posted: 24 Feb 2020, 23:26
by Gwyde
As gold is rising rapidly, a few miners are disappointing, mainly because of 2019Q4 and/or full year results missing on market expectations.
For example:
- Agnico Eagle posted decent results, but the stock was 'priced to perfection'. A few flaws came up under the looking glass (notably a cost creep) and AEM sold off over 15% on the day.
- Pretium had issued a warning before because of a technical issue with the ore feed to the mill. They predictably missed on the topline and suffered a cost creep. Nevertheless profits rose yoy, but the stock sunk once more, nearly reaching its 52w low a few days later.

Both are resuming their uptrend now, but starting from a (much) lower level.

Re: Haystack 2020 and beyond ...

Posted: 23 Mar 2020, 21:40
by Rasta
Jim Rickards disagrees with Martin Armstrong on the subject of confiscation (or confiscation fears). A video of a couple of days ago.

Re: Haystack 2020 and beyond ...

Posted: 28 Mar 2020, 20:46
by Rasta
An oldy, but still applicable and very true in time of distress and uncertainty.

The nice thing is that Rickards speaks here of freegold, without actually giving it a name.

Revival of gold mines - Corona dip overcome

Posted: 23 May 2020, 13:17
by Gwyde
On Mining Corner there is a new article: Revival of gold mines - Corona dip overcome.
And, yes, the HUI-Gold regression relationship survived the Corona dip.

Re: Haystack 2020 and beyond ...

Posted: 23 Jun 2020, 23:42
by Gwyde
Benefits of Owning Precious Metals vs the Derivatives
(Yahoo Finance)

Physical precious metals are better long term investments than both precious metal ETF's (GLD, SLV ...) and vastly better than most of the mining ETF's (GDX, GDXJ). The jury is still out on GOAU (short track record and focus on streaming & royalty plays) and on SLV: kept up pretty well with silver. However the metal plunged: it's still a losing game.

... I'm not surprised

Re: Haystack 2020 and beyond ...

Posted: 05 Sep 2020, 00:22
by Gwyde
Kitco video with Neils Christianson interviewing the Dutch precious metals guru Willem Middelkoop


Inflation threat pushing generalist investors into gold – Willem Middelkoop
Sep 04, 2020
Guest(s): Willem Middelkoop Founder & CIO, Commodity Discovery Fund
More generalist investors are jumping into the gold market because they can no longer ignore the threat of global currency debasement, according to one fund manager.
In an interview with Kitco News, on the sidelines of the Mines and Money Online Connect global virtual mining conference, Willem Middelkoop, founder and CEO of the Commodity Discovery Fund, said that while gold bulls are getting excited about generalist entering the market, this trend actually started in mid-2019 as billionaire investors like Ray Dalio, started extolling the virtual of the precious metals.

Re: Haystack 2020 and beyond ...

Posted: 03 Oct 2020, 00:28
by Gwyde
Dambisa Moyo: are some jobs lost forever? Biggest threats to the workforce, economy (Pt. 1/2)

Even before the economic crisis of 2020, structural problems already manifested in the economy and the workforce, said Dambisa Moyo, world-renowned economist and best-selling author, who warned of the dangers of neglecting these threats.
Moyo pointed to the declining labor force participation rate that has been a long-term trend, the failure of governments to deliver adequate growth over the last decade, and shifts in demographics and technology, all of which would endanger large portions of the workforce.
Importantly, about 40% of jobs in the U.S. would be replaced by 2030 due to the rise of automation, Moyo noted.

Re: Haystack 2020 and beyond ...

Posted: 03 Oct 2020, 00:30
by Gwyde
How de-globalisation has led to Trump’s trade wars with China – Dambisa Moyo (Pt. 2/2)

The trade wars with the U.S. and China had roots in the broader movement of de-globalization that has resulted in such protectionist events such as increased tariffs and Brexit, said economist and best-selling author, Dambisa Moyo.
“I think there’s clearly been a lot of disaffection with globalization because there has been a lot of losers from the process,” Moyo told Kitco News.

Off the record: Both Kitco interviewer David Lin (of Taiwanese origin) as Dambisa Moyo (Zambian economist, who studied both in the US and the UK where she graduated to Dr. in Economy) are key-examples of beneficiaries of globalization. Yet they don't fail to realize that much of the capital gains resulting from globalization have been squandered in warfare and in the building of corporate hegemony, both of which are eventually prohibiting any fair distribution of the globalization benefits.

Re: Haystack 2020 and beyond ...

Posted: 13 Nov 2020, 00:04
by Gwyde
David Garofalo (former CEO of Goldcorp and CEO of Gold Royalty Corp. interviewed by David Lin of Kitco

There are very few large-cap gold miners the size of Newmont, Barrick, Goldcorp, and Randgold left for another 'mega-merger' to happen, and so consolidation in the sector will likely happen within the mid-tiers and junior miners, said David Garofalo, chairman and CEO of Gold Royalty Corp. and former CEO of Goldcorp.

Garofalo said that the gold mining sector faces the "existential issue" of dwindling reserves, and so supply will be a more important factor for sentiment than fundamentals.

Willem Middelkoop interviewed by David Lin (Kitco)

Posted: 17 Nov 2020, 13:30
by Gwyde
The great global reset: what happens to us when it comes? Willem Middelkoop answers (Pt. 1/2)
Nov 12, 2020

Guest(s): Willem Middelkoop Founder & CIO, Commodity Discovery Fund
We're in the end game of a dollar-based system, and a new monetary system will emerge with gold as the anchor, said Willem Middelkoop, founder of the the Commodity Discovery Fund.
"We're in a rough period. It doesn't matter which president will be next, he can only avoid a deep depression by printing trillions and trillions. As an investor, we concentrate on that part of the story," he said.