This Morning in Metals: London Copper in Holding Pattern, Zinc Falls Back

This morning in metals news: copper on the London Metal Exchange (LME) is hanging steady, zinc pulled back after hitting a two-week high and General Electric (GE) announced plans to build the world’s largest laser-based powder bed metal 3-D printer. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up No Movement…

The post This Morning in Metals: London Copper in Holding Pattern, Zinc Falls Back appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

from Precious Metals – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2017/06/20/london-metal-exchange-zinc-copper-3d-printing-general-electric/

How Precious Metals Can Help Protect Your Wealth from Hackers

Could your wealth be hacked? It’s a threat most investors overlook. But they do so at their own peril.

If elections can be hacked, then so can bank and brokerage accounts, as well as any online platforms for digital currencies.

More than five months into Donald Trump’s presidency, the “Russia hacked the election” conspiracy theories still won’t go away. They’re expanding to also implicate Russian hackers for meddling in elections in France and elsewhere. The latest Russian hacking story centers on Qatar.

According to the Guardian, “An investigation by the FBI has concluded that Russian hackers were responsible for sending out fake messages from the Qatari government, sparking the Gulf’s biggest diplomatic crisis in decades.”

The Russian government has repeatedly denied involvement in these hacking campaigns. Regardless of whether the news about Russian hackers is fake, the threat of cyber-attacks is very real.

In recent months, major e-mail providers and e-commerce sites have been hit by hackers. They often take customers’ information and try to sell it on the dark web.

Think Bitcoins are “hack proof” due to cryptography? Think again. Tens of millions of dollars worth of the crypto-currency have been digitally stolen by hackers. The biggest heists hit Bitcoin exchanges Mt. Gox and Bitfinex. More recently, South Korean Bitcoin exchange Yapizon was hacked out of more than $5 million.

Electronic Banking Is Vulnerable to Hackers

Electronic banking and brokerage institutions are also vulnerable. A rogue government, a group of terrorists, or even a lone mischievous teenager could potentially crash markets by unleashing a debilitating computer virus or breaking into networks that undergird the financial system.

The worst-case scenario for the digital economy would be an electro-magnetic pulse (EMP) attack. An EMP could be triggered by an extreme solar flare or a nuclear detonation. In the event of an electro-magnetic pulse, large-scale economic disruptions could unfold as the power grid goes down and computer systems get fried.

If the Internet goes dark, then so does Bitcoin and other digital platforms. No online banking. Your ATM card may no longer work. A national “bank holiday” may have to be declared as a physical cash shortage sends the economy reverting to barter transactions.

Granted, this is an extreme scenario. But you don’t have to take extreme measures in order to protect yourself from it.

Reducing Your Vulnerability to Cyber Attacks: Simple Steps You Can Take

One of the most important steps to take to boost your resilience to digital threats is to hold tangible assets that aren’t dependent on, or connected to, the internet. Physical precious metals are a time-tested form of unhackable money.

Virtual ownership of metals in the form of futures, options, or exchange-traded products will leave you vulnerable to any of the major threats to the financial grid.

The upshot to owning low-premium bullion products you can hold in your hand is that it costs you nothing extra to obtain the protection and utility that physical metals provide.

We’re not suggesting that you pull everything out of your bank accounts and close all your credit cards – for now, they remain a convenience most of us won’t want to do without in our daily lives. (And we’re not saying to steer completely clear of cryptocurrencies either.)

But you can and should take steps to make your accounts at least somewhat more secure:

  • Close any dormant accounts that you no longer use.
  • Keep paper records, including statements, from accounts you access online.
  • Strengthen your passwords by lengthening them or using a password manager.
  • Avoid storing sensitive information directly on cell phones or other commonly stolen/ hacked devices.
  • Check your credit report regularly for signs of identity theft.
  • Install anti-virus software on your devices and keep it up to date.

For the portion of your wealth you want to secure in physical, off-the-grid metal, make sure you keep it far removed from the banking system. That means not storing your precious metals in a bank safe-deposit box that could be raided or rendered inaccessible during a financial crisis.

Keep at least some portion of your gold and silver stash stored in a home safe for immediate accessibility at all times. And keep quiet about it! Your neighbors don’t need to know all about your pure silver bars or your shiny gold Krugerrands.

For the portion of your precious metals holdings you don’t want to keep at home, opt for a secure bullion storage facility such as Money Metals Depository.

MMD only uses physically segregated storage which ensures your metals aren’t pooled or co-mingled with those of other customers.

Even as new and potentially bigger cyber threats emerge, you can rest comfortably knowing much of your wealth is beyond the reach of hackers. That peace of mind is difficult to put a price on. Fortunately, it’s not difficult to obtain. Rotating wealth out of financial assets and into hard assets is as easy as writing a check to a reputable bullion dealer such as Money Metals Exchange.

 

Stefan Gleason is President of Money Metals Exchange, the national precious metals company named 2015 “Dealer of the Year” in the United States by an independent global ratings group. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC, and his writings have appeared in hundreds of publications such as the Wall Street Journal, Detroit News, Washington Times, and National Review.

The post How Precious Metals Can Help Protect Your Wealth from Hackers appeared first on Gold Silver Worlds.

from Gold Silver Worlds http://goldsilverworlds.com/gold-silver-insights/precious-metals-can-help-protect-wealth-hackers/

Feasibility Study Offers Optionality to Maximize Cash Flow

Source: The Gold Report   06/15/2017

Peter Breese, CEO of Asanko Gold, discusses the recently released definitive feasibility study for the Asanko Gold Mine in Ghana, and the two-stage organic growth plan.

The Gold Report: Thanks for joining us today. Last week Asanko Gold Inc. (AKG:NYSE.MKT; AKG:TSX) released a definitive feasibility study on its expansion projects for the Asanko gold mine in Ghana. Can you tell us some of the highlights?

Peter Breese: The study is what I would term very robust. It demonstrates we have a clear growth plan for the Asanko Gold Mine from its current production level of around 230,000–240,000 ounces a year of gold to 450,000 ounces at steady state production. What I see as quite important is not only do we have a lot of flexibility on how we can best implement this plan, it’s also a low-cost, long-life asset, and it’s in Ghana, which is one of the best mining jurisdictions in Africa.

The expansion will be done in two stages, Project 5 Million and Project 10 Million. The combined capital for both projects is around $350 million, generates a 12.5-year life of mine with an after-tax internal rate of return in excess of 20% at very competitive, all-in sustaining cash costs (AISCs), which bodes well for our ability to generate cash in all cycles. Project 10 Million generates cash from operations of around $130 million a year.

TGR: Would you tell us what Project 5 Million and Project 10 Million look like?

PB: Project 5 Million is a very capital-efficient growth project. Essentially it optimizes the throughput capacity around what we call the process bottleneck, which is the milling circuit. It takes the milling circuit from current operations of about 3.6 million tons per annum (3.6 Mtpa) to 5 Mtpa. This will cost just over $20 million and involves upgrading simple things like pumps, tailings lines and gold recovery processes. We have started work on that and expect the project to be complete before the end of this year.

TGR: What kind of production would you be expecting to get from Project 5 Million by the end of the year?

PB: Project 5 Million maintains our production profile at current rates of 230,000–240,000 ounces for about 20 to 21 years. If we didn’t invest in Project 5 Million, we would see a gradual decline in production in the coming years. It’s a very low-capital entry project, with payback in just over a quarter.

The second part of that project is the installation of an overland conveyor linking our largest deposit, Esaase, to our existing processing operations. The overland conveyor facilitates the opening up of the Esaase pit and this is what gives us the 21-year life of mine.

TGR: How long is this conveyor going to be?

PB: The conveyor is 27 kilometers long and has been designed to ultimately handle Project 10 Million. In the first instance, when we first open up Esaase and the processing facility is running at 5 Mtpa, the conveyor will only be transporting about 2 Mtpa of ore. But once Project 10 Million comes in, the conveyor can ramp up to 8 Mtpa.

TGR: Can you tell us about Project 10 Million?

PB: Project 10 Million leverages off the infrastructure already in place at the Asanko Gold Mine. We’ve designed Project 5 Million and the conveyor on a modular basis. In Project 10 Million, we build a second 5 Mtpa carbon-in-leach plant right next to the existing processing facility, which is upgraded to 5 Mtpa in Project 5 Million. That will give us 10 Mtpa in processing capacity. We’ll then start mining the Esaase deposit at higher rates as it will be the main ore source, taking it up to 7–8 Mtpa

TGR: The modularity of this project appears to give you a good bit of flexibility. Could you talk about what factors you see playing into the timing of development?

PB: In the mining industry, flexibility is key. The great thing about Asanko is Project 5 Million is imminently capable of sustaining itself for over 20 years, generating around $80 million a year in cash from operations.

Project 10 Million really boosts our production and propels us into one of the largest gold mines in Africa at 450,000 ounces/year. It’s easily within the Top 10 gold mines in Africa, which by world standards is very good, and with a mine life of over 12 years. Essentially Project 10 Million maximizes production over a shorter life of mine.

The reason for the modular design is that, for a junior company such as us, we need to be able to fund our growth projects and the strength of our balance sheet is a critical factor. As I’ve said before to many shareholders, I have an allergy to too much debt and an allergy to too much dilution through equity raisings. While there are requirements for both in the business, they must be kept to a sustainable level and mustn’t destroy shareholder value.

The great thing about the modular design is they’re all standalone projects in their own right and they can be switched on at any time in the future. It’s all around prudent balance sheet management: How do we manage our balance sheet and how do we make sure that we don’t get to a situation where our cash balances fall to a precarious level? Right now, forecasts are telling us that by the end of this year, we’ll have in excess of $80 million in the bank, and by the middle of next year, 2018, we’ll have about $100 million in the bank. This puts us in a very comfortable position to then decide the best way to grow going forward.

TGR: Beyond Project 10 Million, what other opportunities for growth exist at Asanko?

PB: We have a huge amount of exploration potential and hold one of the largest land packages in Ghana on the Asankrangwa Gold Belt. All the other majors in Ghana— such as Gold Fields Ltd. (GFI:NYSE), Newmont Mining Corp. (NEM:NYSE), AngloGold Ashanti Ltd. (AU:NYSE; ANG:JSE; AGG:ASX; AGD:LSE) and Kinross Gold Corp. (K:TSX; KGC:NYSE)—are all on the other two major gold belts, both the Sefwi Belt and the Ashanti Gold Belt.

Asanko is on the Asankrangwa Gold Belt, and we’re the only miner there. We’ve done extensive studies on the prospect of the Sefwi Belt. Historically there’s been very little sophisticated exploration techniques applied to this belt. So, we’ve upped the ante on that. And right now, we’re in the process of completing a three-dimensional inversion study and that is coming up with a number of high-priority targets.

Instead of going to buy anything else right now, we’ve decided to look in our backyard and see what else we can find. Last year, with little effort and a very cost-effective budget, we found 300,000 ounces. If you look at the quality of the two assets that we have right now with over 5 million ounces of reserves, the chance of adding more to that is very good.

TGR: Management is important to investors. Can you tell us about the experience of Asanko’s managers?

PB: We have a core group of people who have been together for between about 8 and 32 years. We’ve built eight large-scale mines together in Africa, and prior to that, many of us worked in the big mining companies in Africa. Our skill set covers the entire technical and financial range, as well as human resources. It’s important to remember that building a mine or finding a large deposit or doing a feasibility study is not just about a technical solution. It’s also about people, local communities, having a social license to operate, and we pay a lot of attention to that as well.

Members of the management team at Asanko are also owners. Along with Directors, we own just under 3% of the company, which is important. In fact, the Chairman and I bought shares last July in the market and we have never sold a share.

The core executive management team at Asanko has combined mining development and operational experience in excess of 250 years, which is extraordinary for a junior company of this size, and I think the fact that we built the Asanko Gold Mine ahead of schedule and under budget is a testament to the team.

TGR: Would you talk more about how you anticipate funding the capex for the project?

PB: Currently, we have just over $60 million cash in the bank. This year we anticipate making around $80 million. If you take our capex for the year, that means we’ll get to the end of the year with between $80 million and $95 million in cash. We then continue to generate between $80 million and $90 million a year. We will get to the middle of next year with in excess of $100 million.

That $100 million then facilitates the next phase, which is building the conveyor belt, which costs about $80 million. Once we’ve built the conveyor belt, each one of those steps continues to drive more value, drive higher production and, therefore, more free cash flow. And so, it’s about maintaining our cash flow margin on a per-ounce basis that generates that cash. We are very comfortable from a cash-in-bank and a cash flow-generating capacity because that’s what we’re doing every day right now. We’re producing the ounces and generating the cash.

TGR: What’s your guidance for this year?

PB: Our guidance for this year is 230,000–240,000 ounces gold, and as a goal, AISC of $880–920 per ounce. We expect it to be maintained at that level for another two to three years while we develop the next phase of projects. Thereafter, it goes gradually up to about 450,000 ounces/year, and we see a big drop in AISC then because this is a volume game, so fixed overhead gets spread over higher production. So, we’ll see our AISC drop to $870–880 per ounce at 450,000 ounces.

TGR: Are there other points that you would like our readers to know?

PB: There are a couple of key pillars to this organization. First, we have a team that’s been there and built mines many times before, and I think it’s borne out by our first year of operations. To deliver a project ahead of schedule and under budget is extraordinary in this day and age.

Second, when we switched production on, we planned to ramp it up to steady state in six months, and we got there in three months. Now we’re running within the first three quarters of switching on the mine at 20% above design capacity. We see no reason why we can’t replicate the same process. Right now, the steps are more deliberate and a little bit slower. The reason for that is we already have debt and we don’t believe that we should be issuing equity. We don’t have to grow just for growth’s sake. It’s about growing in a responsible manner and adding value to shareholders. Over the past week, I’ve been meeting many of our key shareholders and analysts and they have been very supportive.

If you take our current valuation right now, we’re trading at just under three times future cash flow. And if you take our peers, they’re trading between 8 and 12 times cash flow. We think that if we continue producing the ounces and delivering the cash flow, the market will soon see that there’s a rerating about to come.

TGR: Thanks for your insights, Peter.

Peter Breese is President, CEO and Director of Asanko Gold Inc. Breese has over 25 years of operational experience in the global mining industry, predominantly in southern Africa and Australia. Prior to joining Asanko, he was CEO of Mantra Resources, before its US$1 billion acquisition by ARMZ in 2011 and Chief Executive of Norilsk International, following its acquisition of LionOre Mining in 2007, where he was COO.

Want to read more Gold Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.

Disclosure:
1) Patrice Fusillo conducted this interview for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or her family owns, shares of the following companies mentioned in this interview: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
2) Asanko Gold Inc. is a sponsor of Streetwise Reports. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclaimers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Asanko Gold Inc. had final approval of the content and is wholly responsible for the validity of the statements. Opinions expressed are the opinions of Peter Breese and not of Streetwise Reports or its officers.
4) Peter Breese: I was not paid by Streetwise Reports to participate in this interview. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview. I own shares of the following companies mentioned in this interview: Asanko Gold Inc.
5) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts’ statements without their consent.
6) This interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
7) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

( Companies Mentioned: AKG:NYSE.MKT; AKG:TSX,
)

from The Gold Report – Streetwise Exclusive Articles Full Text https://www.streetwisereports.com/pub/na/17510

Stepout Drilling Continues to Deliver Strong Zinc Results for This Junior

Source: The Critical Investor for The Gold Report   06/15/2017

The latest set of drill results seems to solidify this deposit’s reputation as a Tier 1 zinc asset in the making, says The Critical Investor in this update.

The latest set of drill results recently released by Tinka Resources Ltd. (TK:TSX.V; TLD:FSE; TKRFF:OTCPK) seems to further solidify Ayawilca’s reputation as a Tier I zinc asset in the making. Not only confirmed hole A17-063 the thick South Ayawilca mineralization with one of the best intersections of zinc mineralization at Ayawilca to date, a world-class 47.7 meters grading 11.3% zinc. Just as important was hole A17-066, which extended the strike of South Ayawilca in eastern direction, and delivered first proof of the idea that South Ayawilca and Central Ayawilca might be connected. The hole reported 3.5 meters at 7.4 % zinc and another 5.0 metres at 11.3 % zinc at a slightly greater depth. I have colored these holes in red:

Ayawilca Zinc Resource

A17-063 is obviously excellent and confirms a very thick, high grade central mineralized zone in South Ayawilca, which until now seems centered around monster hole A17-056 (63.9m @ 5.6%Zn AND 52m @ 10.1% Zn). Compared to these holes the intercepts of A17-066 pale in comparison, but are still very economic and mineable. I didn’t expect anything big per my last article on this, but was still hoping for mineralization to remain a bit thicker, and more gradually declining towards Central Ayawilca as it would increase tonnage faster of course, but I will show later on that Tinka has nothing to complain about in this regard.

Here is the full set of drill results from the news release again:

Key Highlights

Hole A17-059:

· 0.8 meters at 37.5 % zinc, 0.5 % lead & 69 g/t silver from 50.3 meters depth (vein).

Hole A17-063:

· 47.7 meters at 11.3 % zinc, 18 g/t silver & 313 g/t indium from 302.2 meters depth, including

· 9.8 meters at 17.4 % zinc, 28 g/t silver & 587 g/t indium from 303.3 meters depth; and

· 12.2 meters at 17.1 % zinc, 26 g/t silver & 495 g/t indium from 327.4 meters depth.

Hole A17-064:

· 0.5 metres at 15.6 % zinc, 11 g/t silver & 304 g/t indium from 269.9 metres depth; and

· 0.4 metres at 14.5 % zinc, 17 g/t silver & 39 g/t indium from 277.2 metres depth.

Hole A17-065:

· 19.3 metres at 4.7 % zinc, 7 g/t silver & 93 g/t indium from 219.5 metres depth, including

· 2.6 metres at 20.6 % zinc, 23 g/t silver & 529 g/t indium from 236.2 metres depth; and

· 26.6 metres at 3.6 % zinc, 4 g/t silver & 46 g/t indium from 266.4 metres depth; and

· 24.7 metres at 3.8% zinc, 5 g/t silver & 51 g/t indium from 307.3 metres depth.

Hole A17-066:

· 3.5 metres at 7.4 % zinc, 24 g/t silver & 111 g/t indium from 330.9 metres depth, and

· 5.0 metres at 11.3 % zinc & 37 g/t silver & 270 g/t indium from 345.0 metres depth;

CEO Graham Carman had a few interesting things to say; I start with this quote from the news release:

We are finding that the zinc mineralization is zoned around iron sulphides (mostly pyrrhotite with lesser pyrite) which may also host tin mineralization (note: tin assays are pending).”

Management didn’t disclose results for tin yet, and after asking Carman it appeared that this was for two reasons: first it takes several weeks longer to do tin assays, and second they prefer to release current and possibly upcoming tin assays together, as soon as they have a solid understanding of an eventual mineralized tin zone. My assumptions on this are twofold: they might only want to release those results when they actually imply an economic tin orebody at South Ayawilca, and it’s simply too early for this at the moment, besides this these tin assays could point towards another connection: the Tin Zone below Central Ayawilca, and management wants to investigate this completely.

This was even more interesting:

“We have also encountered an important northeast-trending fault, and can confirm that post-mineral movement has displaced mineralization laterally which opens additional exploration opportunities.”

The existing South-West/North East trending fault is meant here, see the semi-horizontal line in this slightly outdated map:

2017 South Ayawilca Drill Program

Instead of this being a normal ((semi-)vertically displaced) fault, management now believes this is a slip-strike (horizontally displaced) fault and that the movement took place post-mineralization. This in turn could indicate that entire South Ayawilca has been part of Central Ayawilca in the past, and was displaced horizontally to the South west along this SW/NE slip-strike fault. Then why would Tinka bother drilling north of this fault?

Management believes there could be another geological phenomenon at play. According to recent and earlier drilling (A15-046 (directly west of Central Ayawilca) intercepted 2.1m @ 37.3% zinc from 99.2m depth, and 6.3m @ 3.1% zinc at a depth of 185.7m, and A17-059 (see map above) intercepted 0.8m @37.5% Zn from 51m depth and 2m @6.3% Zn from 60m depth), there appear to be relatively thin zinc veins, hosted in sandstone, on top of limestone north of South Ayawilca and west of Central Ayawilca. This could, according to management, resemble the following diagram (USGS, provided by Tinka):

Ayawilca Geology

So the geologists of Tinka are basically planning on finding the feeder structure of those veins now, and possibly even connecting all zones together at depth. If they actually manage to do this, then it will be clear that Ayawilca could be a “zinc elephant” (usually this term is reserved for large copper deposits). And this is even regardless of what Tinka will find at the other targets like the coveted Zone 3.

According to the news release, Tinka has now released results from eleven drill holes of an estimated total of 30 holes planned for 2017. Seventeen holes have been completed. There are currently two rigs drilling at South and Central Ayawilca focusing on resource expansion and connection of these areas. A third drill rig is currently testing the possible extensions of West Ayawilca. A fourth rig has started at Zone 3, drilling hole A17-073, and as this is more mountainous terrain, a smaller, portable rig is used, which also drills a bit slower than the other 3 rigs. The result of this hole is expected in 4 weeks from now, and I’m very curious what assays will be reported here, as all surveys were very promising so far.

After discussing drill results and exploration potential, I also want to look a bit further into the consequences for my earlier hypothetical resource estimate.

Current results could increase the mineralized envelope roughly to an estimated (l x w x h) 500m x 175m x 40m x 3.3t/m3 = 11.5Mt, assuming continuous mineralization, and a narrowing mineralized envelope towards the Central Ayawilca. I believe the mineralized envelope there to be a bit wider (100m) then my earlier estimated 50m which I considered really conservative, based on a bit too enthusiastic, much thicker estimated mineralization (30-35m). The current 10m thick intercept could in my view justify a less conservative approach when estimating the width of mineralized zones here, as even the sandstone across the fault returned vein type mineralization. As I estimated an average thickness of 50m for entire South Ayawilca in my last article (which was based on anticipating a 30-35m intercept at A17-066), total tonnage for South drops from an estimated12.3Mt to an estimated 11.5Mt. When mineralization would in fact be continuous between A17-066 and upcoming drill result A17-068, at a thickness of about 10m, another hypothetic 0.5Mt could be added, so this is not very significant. Total estimated tonnage could come in close to an estimated 30Mt anyway (18.8Mt + 11.5Mt = 30.3Mt), and this would be already excellent.

On top of exploration, management is also applying for a larger permitted area around Zone 3, to cover more of the gravity anomaly. The timeline on this isn’t available yet.

I also discussed drilling costs with management; they provided me with an all-in quote of US$300/m. When taking a currently completed estimated 6800m of drilling @US$300/m, this could have cost US$2M, leaving about an estimated US$6M (cash position reported per Dec 31 2016: C$12M or US$8.8M, accounting for corporate G&A etc.) in the treasury at the moment which is substantial, and could easily accommodate much more drilling if needed.

So it looks like Tinka Resources is ticking all the right boxes so far, and I am looking forward to the next batch of drill results, which I expect to come in three to four weeks from now.

The author is not a registered investment advisor, and has a long position in this stock. Tinka Resources is a sponsoring company. The views, opinions, estimates or forecasts regarding Tinka’s performance are those of the author alone and do not represent opinions, forecasts or predictions of Tinka or Tinka’s management. Tinka has not in any way endorsed the information, conclusions or recommendations provided by the author.

All facts are to be checked by the reader. For more information go to http://www.tinkaresources.com and read the company’s profile and official documents on http://www.sedar.com, also for important risk disclosures. This article is provided for information purposes only, and is not intended to be investment advice of any kind, and all readers are encouraged to do their own due diligence, and talk to their own licensed investment advisors prior to making any investment decisions.

The Critical Investor is a newsletter and comprehensive junior mining platform, providing analysis, blog and newsfeed and all sorts of information about junior mining. The editor is an avid and critical junior mining stock investor from The Netherlands, with an MSc background in construction/project management. Number cruncher at project economics, looking for high quality companies, mostly growth/turnaround/catalyst-driven to avoid too much dependence/influence of long term commodity pricing/market sentiments, and often looking for long term deep value. Getting burned in the past himself at junior mining investments by following overly positive sources that more often than not avoided to mention (hidden) risks or critical flaws, The Critical Investor learned his lesson well, and goes a few steps further ever since, providing a fresh, more in-depth, and critical vision on things, hence the name.

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Streetwise Reports Disclosure:
1) The Critical Investor: The author, or members of the immediate household or family, own shares of the following companies mentioned in this article: Tinka Resources. The author’s company has a financial relationship with the following companies mentioned in this article: Tinka Resources.
2) The following companies mentioned in the article are sponsors of Streetwise Reports: None. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Charts provided by author

( Companies Mentioned: TK:TSX.V; TLD:FSE; TKRFF:OTCPK,
)

from The Gold Report – Streetwise Exclusive Articles Full Text https://www.streetwisereports.com/pub/na/17511

INFOGRAPHIC – 31 Incredible Facts about Gold

There is always more to learn about gold which is a rare, indestructible metal which can store your wealth.  There are many aspects to gold beyond the bullion investment market.  It has an extensive history.

This infographic  covers many incredible facts about gold.  It covers how gold is created, how much gold an average human body contains, how much gold is in a domestic sewer system, and also details about the earliest known gold relics which have been discovered.  There are many industrial uses.  We all come into contact with gold on a daily basis through the many gold bonding wire found in our smartphones.  But, few people have any idea whatsoever about the gold facts listed below.  Think you know gold?  See below.  Infographic provided by BullionVault.

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The June MMI Report: Up, Down and Static

Our June MMI Report is in the books, and there’s a lot to unpack. Benchmark Your Current Metal Price by Grade, Shape and Alloy: See How it Stacks Up Out of 10 MMI sub-indexes, four posted no movement from our May MMIs. That wasn’t true for all, though, as the report shows promising signs for construction…

The post The June MMI Report: Up, Down and Static appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

from Precious Metals – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner https://agmetalminer.com/2017/06/14/the-june-mmi-report-up-down-and-static/

Hell Freezes Over: CFTC Finds Trader Guilty of Metals Price Rigging

It must have been painfully awkward for the Commodity Futures Trading Commission (CFTC).

Last year, Deutsche Bank settled a civil suit involving blatant market rigging and turned over reams of information, including chat logs and voice recordings. The trove contained plenty of damning evidence which had gone overlooked by the CFTC.

CFTC investigators supposedly spent 5 years searching for illegal market manipulation, but somehow, managed to find nothing.

The cheating became hard to ignore after Deutsche Bank turned over voice recordings and 350,000 pages of documents which revealed bank trading desks being run like the back office of a crooked casino.

Here is one of the chat log gems between David Liew (Trader B) and an accomplice at UBS, where they coordinate trades and joke about it with a play on the timeless Ghostbusters song:

UBS [Trader A]: and if u have stops…

 UBS [Trader A]: oh boy

 Deutsche Bank [Trader B]: HAHA

 Deutsche Bank [Trader B]: who ya gonna call!

 Deutsche Bank [Trader B]: STOP BUSTERS

 Deutsche Bank [Trader B]: deh deh deh deh dehdehdeh deh deh deh deh dehdehdeh

 Deutsche Bank [Trader B]: haha16

This and records of many other similarly incriminating exchanges left CFTC officials little choice but to reverse themselves and finally take some action. On June 2nd, the Commission announced a settlement with a single trader named David Liew.

Nevertheless, James McDonald, the CFTC’s Director of Enforcement, seemed proud. He announced, “Today’s enforcement action demonstrates that the Commission will aggressively pursue individuals who manipulate and spoof in our markets.”

Nowhere in his statement will you find him giving proper credit to the cheated bank clients who did the actual heavy lifting. After making complaints to the CFTC, they hired some attorneys and pursued the civil action which produced the mountains of evidence the CFTC relied upon.

In any event, more enforcement action may be on the way. A number of other traders and banks have been implicated in market rigging.

More stuff that will be hard for the bureaucrats and Wall Street job seekers at the CFTC to ignore.

The sanctions against David Liew do represent a small step toward more honest metals markets. We’ll get more excited if we see high level executives being prosecuted and banks losing their licenses to trade. But we aren’t holding our breath.

The civil courts have a much better chance of making the crooked banks accountable than the captured CFTC.

Clint Siegner is a Director at Money Metals Exchange, the national precious metals company named 2015 “Dealer of the Year” in the United States by an independent global ratings group. A graduate of Linfield College in Oregon, Siegner puts his experience in business management along with his passion for personal liberty, limited government, and honest money into the development of Money Metals’ brand and reach. This includes writing extensively on the bullion markets and their intersection with policy and world affairs.

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