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NOTE:
I WAS TOO CONFIDENT, CIRCUMSTANCES CHANGED.
THE GOLD PRICE SEEMS TO HAVE BOTTOMED OUT NOW,
PARTLY BECAUSE OF THE NEW REMARKABLE DRILL RESULTS IN NORTHERN B.C.
LET US JUST WISH THAT CONFIDENCE RETURNS AND SEE WHAT HAPPENS!

 

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  NEW EDITORIAL 

18 SEP 18

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The current situation in the gold markets is still offering very few concrete underlying factors to give a clear or even sophisticated opinion on its outlook. As I said in the heading of this article, I like to be confident and yes, there are some good signs but it is too early to be outright positive. Any prospective comment would be more based on the thought that the current price level of gold has bottomed out but that is simply not good enough. More convincing developments would be necessary to come up with a solid enough prediction. For now, I will restrict myself to give you some observations that I have been making in the recent few months.

Above all, what is happening in Wall Street has been surprising to me the most. The apparently never ending optimism of the ever going higher stockmarkets seems to reflect the positive attitude of the public or is it the fighting for survival against knowing better of the investment industry itself? In this respect is cannot be coincidental that we are frequently reminded of what happened 10 years ago: the collapse and demise of the renowned investment bank Lehman Brothers. Their questionable mortgages led to a real estate crisis and subsequently to a worldwide financial crisis. On September 15, 2008 Lehman Brothers was declared bankrupt, leaving $631 billion in debts and 25,000 employees jobless worldwide. To see what really happened, there are a number of documentary films on You Tube, one of which is “The Fall Of Lehman Brothers”, made by French journalist Jennifer Deschamps in cooperation with Sylvain Pak and the Indian-American journalist Vikas Bajaj.

This seems to be an excellent moment to watch this documentary and keep these events in mind, they are incredible, in particular because of the ignorance-to-the-very-last-moment by Lehman’s management and insiders. Please note that I am not predicting the same things will be happening again but it is good to remember that the future has repeated itself several times before in the past……

Another remarkable development I noticed is the silence that developed over the recent year or so, the silence from almost every organization that could have reminded us of gold being the last frontier of physical safety and security, the last store of real value in our monetary system while the price has been dwindling as low as $1,160 in mid-August. There have been no comments or notable actions from the U.S. Federal Reserve, any of the Western World Central Banks, government spokesmen, let alone from any of the world’s political leaders but that doesn’t happen often anyway. The only news on gold came from the few countries that have openly stated that the possession of gold in their national Central Banks is a highly welcome and popular asset, being China, Russia, India and Kazakhstan.

The National Bank of Kazakhstan announced that they added 160,000 ounces (4.977 tons) of gold to reserves in July, bringing total gold reserves to top 326.5 tons, thereby surpassing Saudi Arabia’s 322.9 tons. Gold now constitutes 41.4% of Kazakhstan’s overall official reserve assets. Gold Reserves in Russia increased to 1909.80 Tonnes in the second quarter of 2018 from 1857.70 Tonnes in the first quarter of 2018. The current Gold Reserves in Russia represents an all time high since it averaged 778.35 Tonnes from 2000 until 2018. China has officially kept its gold holdings unchanged at 59.24 million ounces since October 2016, or 1,843 metric tons, valuing them at $74.1 billion at end-June. One reason that China may not actually be buying more gold for reserves could be that public purchases of bars and jewelry mean one measure of national holdings is increasing substantially and these assets could be accessed by the state if needed. Secondly, as the world’s largest miner of gold, the country can always buy domestic production for yuan if it wished. Gold Reserves in India increased to 560.30 Tonnes in the second quarter of 2018 from 558.10 Tonnes in the first quarter of 2018. Gold Reserves in India averaged 452.38 Tonnes from 2000 until 2018, reaching an all time high of 560.30 Tonnes in the second quarter of 2018 and a record low of 357.75 Tonnes in the second quarter of 2000.

In light of the above developments, it remains a big and good question where an actual and widely spread demand for gold has to come from. The warning from well-known die-hard gold supporters, I still consider myself one of them (!), that gold is relatively low both in historical perspective as in fundamental value, has lost a lot of its power, not in the least because of the weakening but still imminent of popularity of the bitcoin and some other crypto currencies and aside from that, because of the lack of really stimulating factors for gold. A very basic statement would be that gold should be and remain to be a strategic part of every investment portfolio.

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24 SEP 18
Resource upgrade at the Blanket Mine in Zimbabwe
Total Measured and Indicated gold ounces have increased
from August 2017 to July 2018 by 13% to 805,000 ounces
for the full news release, visit the company website:

EDITORIAL COMMENT:
After having recently increased its interest in the Blanket Mine from 49 to 64%, also the resource base continues to increase
. This enables production to increase from 56,135 ounces to between 55,000 and 59,000 ounces this year. The production goal is set to reach approximately 80,000 ounces in 2021. Moreover, I wouldn’t be surprised if we will hear about expansions beyond the Blanket Mine in the foreseeable future.



EDITORIAL COMMENT:
Silvercorp Metals is continuing to emerge as a very successful mining company. Management is really
(too) modest abo the progress that they have been making over the years.
The company shares are one of the few excellent and transparent opportunities to have a participation in mining in China.


20 SEP 18
Triumph Gold commences deep penetrating geophysical surveys over the Blue-Sky, Revenue and Nucleus Area targeting buried causative porphyry.
The survey is expected to be complete by October 5 and will require several weeks for further data processing before final results will be delivered to the company.
for the full news release, visit the company website:
 
EDITORIAL COMMENT:
I quote Toni Baresi, Triumph Gold Corp’s Vice President of Exploration who said: “If the size and pervasiveness of mineralization near surface is any indication, there could be something exceptionally large and well mineralized at depth. These geophysical surveys will be first order exploration tools as we embark on an elephant hunt.” 


07 SEP 18
Klondike Silver has closed the first tranche of the private placement representing 16,800,000 units for gross proceeds of $840,000. The balance of the earlier announced $1,750,000 Private Placement is still open for subscription.
for the full news release, visit the company website:

EDITORIAL COMMENT:
This Private Placement is on its way to a successsful completion; it would enable the company to make very important progress at their project. Klondike likes to think of the Slocan as the last best under explored Silver Lead Zinc camp in Canada. 
I think they can be proven very right.


25 SEP 18
Positive drilling results Entre Matinhas target, Alvito IOCG project, Portugal
for the full news release, visit the company website:

EDITORIAL COMMENT:
Avrupa Minerals, a true project generator, continues its success in Portugal by discovering 
significant IOCG mineralization potential in a specific target area.
Management takes their function as a true Project Generator very seriously and are proving that they know where to find the right areas in Europe. 

TSX:MAX, OTCQX:MDRPF
03 JUL 18
State & Federal Agencies Update Permitting Schedule for Midas Gold’s Stibnite Gold Project. It now anticipates issuing a draft Environmental Impact Statement for public comment in February 2019,
 with a Final EIS and Draft Record of Decision by October 2019. This would allow for an approved Final ROD in March 2020.
for the full news release, visit the company website:

EDITORIAL COMMENT:
Midas Gold has been quietly developing its Stibnite Gold Project while shareholders had to be patient
with the slow as usual permitting progress. Management has done an excellent job in keeping their followers informed. That Barrick has taken a substantial interest in Midas Gold adds to the assurance that the Stibnite will be a mine. 

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TSX-V:GOM; FSE:3G8B; OTC:GDMRF
11 JUN 18
Greenwood Precious Metals Project Lexington Mine sample results and an update on activities completed. The Company is aiming at initiating trial mining and processing before year end.
for the full news release, visit the company website:

EDITORIAL COMMENT:
The above news has been surpassed by recent 
developments. CEO Wolf Wiese has been subject to the medical surprise of a stroke. There is no official news but the company is expected to issue a news release on the status of the company in the near future. 

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