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Kirkland Lake On Its Way To Becoming “The Premier Mining Company In The World”

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Posted by Jay Tayor - MiningStocks.com

on Monday, 14 May 2018 07:45

Kirkland Lake Gold is by far the best up-and coming gold miner that the publisher of MiningStocks.com is aware of. Kirkland’s Chairman Eric Sprott knows the Gold business extremely well and won’t be satisfied until he makes Kirkland the preeminent gold mining company in the world.R Zurrer for Money Talks. 

Novo Resources CEO Dr. Quinton Hennigh, who knows Kirkland’s Chairman Eric Sprott as well as anyone in the mining industry, told me Eric won’t be satisfied until he makes Kirkland the preeminent gold mining company in the world. I think Sprott can actually achieve that goal, in part because like another successful executive named Rob McEwen who launched Goldcorp into its status as one of the largest gold mining companies in the world, Eric understands the product he produces and sells. Like McEwen, Eric understands that gold is money, which was a refrain Rob was constantly reminding his shareholders of when he was at the Goldcorp helm. If anything, as a strong supporter of the Gold Anti Trust Action Committee, Sprott understands gold even better than McEwen does. Whether or not that is true, Sprott is thinking very big and he is entering into various strategic investments that have the potential to launch Kirkland into the gold mining company big leagues in fairly short order from its current very profitable earnings base. 

Kirkland-Lake-May-18

In 2017 Kirkland earned $132.4 million, or $0.64 per share, and its operating cash flow totaled $309.8 million on production of 596,405 ounces of gold. At the end of Q1 2018 the company earned another $53.8 million and increased its cash on its balance sheet to $275.3 million. Production is currently coming from three mines in Ontario and one in Australia. But the aggressive big picture acquisition and strategic investment strategy of Eric Sprott since he took the helm at Kirkland combined with strong operating performance of Kirkland is really the story. 

The first bold move was to acquire Newmarket Gold in 2016 that brought the phenomenal Foster Mine in Australia. But under the radar are a couple of other moves Eric has made that I think can catapult this company to another level.



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Gold & Precious Metals

ERIC COFFIN - Special Situations BUY ALERT

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Posted by MoneyTalks Editor

on Friday, 11 May 2018 16:08

An exclusive for our MoneyTalks audience. Click on the image below. ~ Editor

Eric Special



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Gold & Precious Metals

The Case AGAINST One Last, Vicious Shakedown in Gold

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Posted by Rick Ackerman

on Friday, 11 May 2018 08:58

Golds-powerful-rally

Is one last hellish plunge necessary to shake out the weak hands in the Gold Market before it takes off for new highs? In this analysis Rick Acekerman makes the case that the long, frustrating 6 year sideways Gold movement has already done the trick - R. Zurrer for Money Talks

Is gold headed below $1000?  I doubt it. Like every other bullion investor who has tired of watching gold’s price meander sideways for nearly six years, I’ve grown increasingly disappointed and frustrated. But also concerned, as many apparently are, that one last, hellish plunge may be necessary to shake out the weak hands. However, looking at the long-term chart, I’m persuaded that bulls still have the edge, if not a big one. That’s because the ‘impulsive’ leap gold took between October 2008 and August 2011 was so powerful, pushing the price of an ounce from $680 to $1912. Although the subsequent retracement took 70% of it back with the $1046 low that occurred in December 2015, bears have been challenged ever since to win the skirmishes that prefigure changes in the long-term trend.

By my analysis, gold ‘should have’ fallen to $821 at its correction low.  It could still get there, and that target will remain valid in any event until such time as 1432.50 is exceeded to the upside. But there is nothing in the chart that implies bulls are going to give up that much ground. To the contrary, they took a shot across bears’ bow with a $328 thrust in 2016 that tripped a theoretical long-term ‘buy’ signal at the green line (see inset).  The move exceeded no fewer than four ‘external’ peaks on the daily chart, and that’s why the bad guys have struggled so hard to push gold back down. They may be able to crush the spirit of bulls, and to do so repeatedly. But this is not the same as crushing prior lows that continue to provide ‘structural’ and psychological support on the long-term charts.

Set an Alert at 1208

If you want a warning signal that the tide could be turning in bears’ favor, simply watch for downtrends that exceed two or more prior lows on the monthly chart without a significant correction. At the moment, that would imply a sell-off exceeding 1208.60.  Even that wouldn’t necessarily mean gold is headed below $1000 — only that we should be especially mindful of downtrending abcd patterns on the lesser charts that start to exceed their ‘d’ targets. That would be warning that the bear is gaining the upper hand. We should also watch for ABCD uptrends that fail to reach their targets. This has actually been happening, and it needs to be monitored. But the effect is not so pronounced as to suggest any more than chronic-but-not-fatal fatigue on bulls’ part.  One more thing concerning the big picture:  Gold would need to push above 1662 to suggest that a move to the 2278 target is likely. That is a midpoint Hidden Pivot, and unless 1046 is exceeded to the downside, it will remain crucial to price action in the months or even years ahead.



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Gold & Precious Metals

The Precious Metals Conundrum

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Posted by Avi Gilburt - ElliottwaveTrader.net

on Friday, 11 May 2018 08:48

The bearishness is extreme in the GLD market that has corrected sideways for 1 1/2 years. Avi sees the Bulls stepping up to the plate and sending bullish spikes up in the miners as well as Gold & Silver. He sees bullish patterns in many miners, as well as silver and GLD, and they are all near their respective support levels R Zurrer for Money Talks

Published on Sun May 6, 2018 for subscribers: A sideways correction lasting a year and a half certainly does a lot to sour investors on a market.  And, even though we have not dropped below 20 in GDX this entire time and the GLD has been consolidating just under its breakout region for months, the bearishness and frustration in the complex is palpable.  In fact, I have even seen people calling for sub $1000 gold again, and we have not even broken a single support level yet.  For me, this is a head scratcher.

As for me, I see bullish patterns in many miners, as well as silver and GLD, and they are all over their respective support levels.  So, until those supports break or those larger degree bullish set ups break, reason suggests that I should be looking up and not down (other than for a little more of a pullback).

When I review the daily GLD chart, I see a clear a-b-c structure off the January high, with the c-wave either having ended, or needing just one more lower low before it completes.  And, as long as we do not break below the 119/121 support on this chart, this is retaining a very bullish set up.

Moreover, both the RSI and MACD are in the same bottoming zone we have seen before each of the other rallies over the last year. And, the next rally that develops in the GLD will likely break it out of this consolidation, based upon the i-ii, 1-2, (1)(2) structure, of which we are about to complete that final (2).  That would suggest the next break out “should” finally be the heart of the 3rd wave off the late 2015 low.

But, silver looks to have bottoming already.  I noted this past week how silver looks to be a micro 5 wave structure off the low struck this past week.  In fact, earlier this past week, I sent out Alerts to our members noting that the 144-minute MACD, which has signaled impending rallies on this chart successfully almost 100% of the time, was suggesting an impending bottoming in silver.  So, after a 5 wave rally, I am looking for silver to pullback correctively a bit more, and then rally up towards the market pivot noted on my chart.

As far as GDX is concerned, I am sorry to say that there is nothing clear I can yet glean out of the GDX.  But, if I had to be forced to pick one count over the other, I would almost have to give the yellow count a slight edge for now.  And, that is purely because I am still looking for a wave (ii) pullback in ABX.

When we look to the daily ABX chart, you will notice how well the “buy” zone I placed on this chart at the end of last year has worked out for now.  Stops should now be placed just below the 11.07 low.  AS you can see from the daily MACD, we have broken through the initial declining trend line in the MACD, and we are now just below the secondary downtrend line in the MACD.  I think this secondary line may keep us in check, and have us top out in wave (i) off the lows, with a wave (ii) pullback likely to follow.  And, I think this wave (ii) will likely see the MACD retest the top of the prior downtrend line in the MACD from which we just broke out. Moreover, it is because of the wave (ii) pullback I expect in the ABX that I think we may see a bit more weakness in the GDX, as noted above. 

So, based upon much of what we are seeing, I cannot say that the weight of evidence yet suggests that we are ready to break out. While silver can certainly take the lead here and move higher to complete wave i in green, I am not as confident that GDX is yet ready to follow.  In fact, it would seem that the real break out may not occur for a few more months, as silver still needs to complete its i-ii, and ABX still likely needs its wave (ii) pullback. But, as long as we hold supports and these patterns continue to fill in over the coming weeks, it certainly seems like we are setting up for some fireworks later this year.

See charts illustrating the wave counts on the GLD, GDX, Silver (YI) and ABX.

Avi Gilburt is a widely followed Elliott Wave technical analyst and author of ElliottWaveTrader.net (www.elliottwavetrader.net), a live Trading Room featuring his intraday market analysis (including emini S&P 500, metals, oil, USD & VXX), interactive member-analyst forum, and detailed library of Elliott Wave education.



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Gold & Precious Metals

Silver Squeeze

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Posted by Jordan Byrne

on Tuesday, 24 April 2018 11:14

It was an interesting week in the precious metals complex. There appeared to be the start of a short squeeze in Silver (hedge funds were heavily short) but it ceased at important resistance. Meanwhile, Gold closed the week on a weak note, losing $1340-$1350. The gold stocks, like Silver closed the week below technical resistance. The price action in the complex continues to suggest that a breakout in Gold is the key to unleashing strong outperformance from Silver and the gold stocks.

While Silver has very supportive sentiment, it has not broken out from... CLICK HERE

silver squeeze



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