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HSBC Holdings plc Message Board

markedtofuture 45 posts  |  Last Activity: 8 hours ago Member since: May 25, 2011
  • TORONTO, Nov. 25, 2015 /CNW/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") confirms that following the conclusions of expert assessments of the seismic event on May 26, 2015, the Commission de la Santé et de la Sécurité au travail (CSST), which is Quebec's occupational health and safety commission, has authorized the start of remediation and recovery work in the level 104 mining block.

    Five experts in rock mechanics, four of whom were mandated by the Company and one by the CSST, have made their recommendations after concluding that the root causes of the rock burst have been identified. Detailed and methodical planning will be carried out in compliance with these recommendations and with the approval of the CSST at each step.

  • Vancouver, Canada – November 25, 2015 - Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) (the “Company” or “Endeavour”) is pleased to announce it has entered into a sales agreement dated November 25, 2015 (the “Sales Agreement”) with Cowen and Company, LLC (“Cowen”), pursuant to which the Company may, at its discretion and from time-to-time during the term of the Sales Agreement, sell, through Cowen, as agent or principal, such number of common shares of the Company (“Common Shares”) as would result in aggregate gross proceeds to the Company of up to US $16.5 million (the “Offering”). Sales of Common Shares will be made through “at the market distributions” as defined in National Instrument 44-102, including sales made directly on the New York Stock Exchange (the “NYSE”), or any other recognized marketplace upon which the Common Shares are listed or quoted or where the Common Shares are traded in the United States. The Common Shares will be distributed at the market prices prevailing at the time of each sale, and, as a result, prices may vary as between purchasers and during the period of distribution. No offers or sales of Common Shares will be made in Canada on the Toronto Stock Exchange (the “TSX”) or other trading markets in Canada.

    The Offering will be made by way of a prospectus supplement dated November 25, 2015, to the Company’s existing U.S. registration statement on Form F-10 (the “Registration Statement”) and Canadian short form base shelf prospectus (the “Base Shelf Prospectus”), each dated July 29, 2014. The prospectus supplement relating to the Offering has been filed with the securities commissions in each of the provinces of Canada (other than Québec) and the United States Securities and Exchange Commission. The U.S. prospectus supplement (together with the related Registration Statement) is available on the SEC's website and the Canadian prospectus supplement (together with the related Base Shelf Prospectus) is available on the SEDAR website

  • Ben Kramer - Miller

    Seeking Alpha- Nov. 25, 2015 5:46 AM ET


    First Mining Finance is a new company focused on acquiring inexpensive quality in-ground gold ounces.

    It is the first company to our knowledge that seeks to minimize those elements of mine-development that reduce metal price leverage.

    The company's conscious effort in this pursuit along with management's impeccable track-record make this an attractive alternative to other inexpensive undeveloped projects.

    *To start out, we just wanted to point out that the company recently completed two acquisitions, which it financed using its stock. Thus, the current share structure is as follows.


  • markedtofuture markedtofuture 15 hours ago Flag

    They had a great turnout to the event. SRSrocco Report came out with a new post titled:

    DEATH OF PAPER GOLD & SILVER: The Data Proves It

    Posted: 24 Nov 2015 01:18 PM PST
    The death of paper gold and silver has arrived, however the public doesn’t realize it yet. They will, it’s just a matter of time now. This is like the poor slob whose diet of McFats, Done-Kin Doughnuts and Cancerette smokes, is just one heart-attack away from being six-feet under. The paper precious metal market is […]

    Charts prove it.

  • Allied Nevada completes $21.75-million (U.S.) offering
    2014-12-12 13:48 ET - News Release

    Doc 793-3 Filed 07/31/15 Page 21 of 55

    Akin Gump Strauss Hauer & Feld LLp, states on March 26, 2015 Page 2 bottom paragraph:

    The Ad Hoc Group's reference to the Debtors' December 2014 equity raise in support of their contention that the Debtors are not insolvent is similarly misplaced. While it is true that the Debtors raised $21.8 million in December 2014, they were attempting to raise more than double that amount, but they were unable to do so-and the $21.8 million they did manage to raise was on incredibly expensive terms. Moreover, the Debtors have reason to believe that $21 million of the capital raised came from only four investors who were closing short positions in the Debtors' equity or who were stripping the warrants and selling the common shares; there was no fundamental demand (long side investors) for the offering.

    The 4 hedge funds?

    The hedge funds who purchased 21.75m new shares on December 12th 2014
    were listed on the Form 8-K dated 2014-12-09:

    The three offshore hedge funds are:
    Capital Ventures International - Cayman
    Graham Macro Strategic LTD - British Virgin Islands
    Hudson Bay Master Fund LTD - Cayman

    The fourth is a limited partnership :
    Empery Tax Efficient LP

  • Reply to

    lalonde incompetance or was it sabotage

    by edmundaronson Nov 22, 2015 6:10 AM
    markedtofuture markedtofuture Nov 22, 2015 11:41 AM Flag

    Speaking of GG, Allied shareholders got crickets on this one. Flanders Inc. is also in the drilling automation business. Tracey is Director of I/R.

    allsport232323 • Nov 25, 2014 7:45 AM

    Search seeking alpha for GG. When I spoke w Tracey in IR last week, I was able to narrow down the names of interested firms they spoke with. Both GG and NEM have recently idled projects, sold properties and are looking for US partners (read their headlines... BOTH have had nothing but trouble overseas in 2014). Also, GG has worked with ANV on hardware/supplies before (confirmed w Tracey 11/18)..."GG needs a mine that is producing or near production. Goldcorp needs production growth, and while it might be tempted by a company with a large project around the feasibility study phase, I don't think it wants to deal with all of the pre-production issues.

    The company needs to have a large mine. Goldcorp isn't going to be interested in smaller mines that don't move the needle. It produces 3 million ounces of gold per year, and so anything with less than 200,000 ounces of annual production is simply not worth management's time, unless it believes that it can grow the project to that point.The project needs to offer good value. That goes without saying, although one point I should clarify is that Jeannes and his team are bullish of gold, and so it might make a decision based on a higher gold price. This means that it might end up "overpaying" for a company based on metrics using $1,200/oz. gold.

    flanders.automation • Nov 25, 2014 12:33 PM

    She did mention 1 share of GG for every 5 shares of ANV but that was 2 weeks ago when both companies were trading lower. When I questioned majority ownership, she said the conditions for the exchange required ANV to own a minimum of 51% of the shares. My rough figures show that Hycroft could be fully funded with as little as 30 million shares

  • Reply to

    lalonde incompetance or was it sabotage

    by edmundaronson Nov 22, 2015 6:10 AM
    markedtofuture markedtofuture Nov 22, 2015 7:59 AM Flag

    Your post is right out of a Allied Nevada chapter. A lot of strange things have been going on into gold's lows.

    Allied loaded up on debt and swaps after bringing in a new CFO. They had a 1.8 billion mill feasibility study valuation done, 260,000 oz gold on the clogged leach pads, 10 million oz gold and 400million oz silver (unmined) whittled down to 200 - 300 million by a swap gone bad. They hired Scotiabank as an advisor for their mill exspansion, while a Scotiabank analyst had a $.05 target price on the stock. It looks like they purchased about 500K worth of truck tires right before filing chapter 11 see docket 1270. They made false statements see motions to appoint an examiner. They were mining waste during the chapter 11proceedings and became Hycroft Mining. Barrick engineers told an ANV poster in May 2015 that they would be shuttering mining operations in July 2015. Guess what?

    Barrick Gold Engineers Confirm in May 2015 - Mining Operations for Allied Nevada would halt in July 2015

    Scotiabank Capital Inc. has been retained as financial advisor by Allied Nevada Gold Corp with respect to Hycroft Mill Expansion Dec 2014. see docket 1018 page 279 of 299

    Scotiabank assigns a $0.05 share price target on Allied Nevada shares. Dec. 2014. (see doc 1018 page 118 of 299) ... Scotiabank was looking for a partner for financing of the Hycroft Mill Expansion???

    Scotiabank was the counterparty to the triggering event for the chapter 11 filing???

    Investors decided to get their own websites going - alliednevadafraud...m and hycroftminingfraud...m

    The positives here are the higher gold grades and less debt. Allied had no mill or insider buying with the exception of goods and services when things turned down.

  • Scotiabank Capital Inc. has been retained as financial advisor by Allied Nevada Gold Corp with respect to Hycroft Mill Expansion Dec 2014. see docket 1018 page 279 of 299

    Scotiabank assigns a $0.05 share price target on Allied Nevada shares. Dec. 2014. (see doc 1018 page 118 of 299) ... Scotiabank was looking for a partner for financing of the Hycroft Mill Expansion???

    Scotiabank was the counterparty to the triggering event for the chapter 11 filing???

    What say you creative accounting department? Shareholders are still missing the $450 million.

  • Pay me my silver now song is worth watching on Bix's site.

    Submitted by cpowell on 10:46AM ET Saturday, November 21, 2015. Section: Daily Dispatches

    1:47p ET Saturday, November 21, 2015

    Dear Friend of GATA and Gold:
    Bix Weir, editor of the Road to Roota financial letter and an accomplished musician, will be in San Francisco on Sunday to hold a concert protesting manipulation of the silver market on the eve of the Silver Summit and Resource Expo being held in that city Monday and Tuesday. The concert will be held Sunday from 6 p.m. until midnight at the Hotel Utah Saloon at 500 4th St.

    Joining Weir will be GATA Chairman Bill Murphy, David Morgan of Silver-Investor Miles Franklin market analyst Andy Hoffman, and monetary metals advocate Jason Hommel, among others. (Murphy has promised not to sing.)

    Admission is $75 and includes a 1-ounce silver round, food, and the ticket holder’s first drink.
    Tickets should be purchased in advance. To buy one or to get more information, please visit the Road to Roota’s Internet site here:

    CHRIS POWELL, Secretary/Treasurer
    Gold Anti-Trust Action Committee Inc.

  • Crimex is wasting away in leveraged land. Jesse's Cafe...13 NOVEMBER 2015

    Perhaps it went out for some dim sum. TTFN, but be right back!

    Roughly 21 tonnes, or 685,652 troy ounces of gold in .999 fine kilo bars, was withdrawn, net of a small deposit of 27,328 ounces, from the Brinks warehouse in Hong Kong yesterday.

    To put that into some perspective, that is the same amount of all gold in the entire JPM warehouse in the US.

    Now compared to the Comex US, in which very little gold bullion actually changes hands or goes anywhere, that is a huge number. But Hong Kong is typically seeing large inflows and outflows of gold. Because that is how the precious metals market has been manifesting in Asia since about 2007: not with endless chains of paper just changing hands in a grand game of liar's poker, but with the physical exchange of bullion.

    And most of that bullion leaves the warehouse and does not come right back, as Koos Jansen has explained repeatedly about the operations on the Shanghai Gold Exchange. It is being accumulated on the mainland, and this probably does not include the PBOC official purchases.

    The point of this is that the price discovery in New York is becoming increasingly divergent from the actual physical supply and demand flows of bullion which are taking place in Asia.

    And that is a potentially dangerous development, especially with respect to a commodity that is being traded at a leverage in excess of 200:1. And in the face of shrinking inventories of gold available for delivery at current prices in both New York and London.

    I have put the most recent report for all the US warehouses registered with Comex below that of Hong Kong.

    As the Comex told Kyle Bass, 'price' will take care of any imbalances. Yes, just as smoothly and seamlessly as it did when the price of highly levered and risky paper corrected back to reality in 2008. Ba-boom!

    Are you kidding me? That is what Kyle Bass said, not me. 'Just give me the gold.'


  • markedtofuture markedtofuture Nov 8, 2015 5:22 PM Flag

    Keith Neumeyer, CEO of First Majestic, had the nads to complain to regulators about the manipulation. If enough of the miners got together, they wouldn't have to lay off workers.

    One Of The World's Largest Silver Miners Slams The CFTC About Silver Market Manipulation

    These guys work for themselves and the bankers. They prefer debt over shareholders. Debt is what took ANV out with some creative accounting...see alliednevadafraud...m

    James McShirley has documented the gold and silver ponzi scheme for 15 years. This article has the perfect picture at the end of it.

    The MOAMOPE by James C. McShirley

    The advent of computer generated trading algorithms heralded a quantum leap forward in the quest for 24/7 control of markets. No longer were humans beings required to do such unseemly things as man trading desks or worry a whit if free markets were, if even infrequently, attempting to function.

    Algo precision has made even the blackest of black swan events seem to turn lily white in their utter non-eventfulness. No more significant Dow or bond crashes, and best of all, no gold rallies exceeding (exactly) 1.00%, or the occasional 2.00%. Algo sentinels now stand in a permanent state of vigilance, keeping MOPE alive. (MOPE is what Jim Sinclair refers to as "management of perspective economics".)

    Market manipulations and control of gold trading are what I have documented now for over 15 years. Many of these manipulations are well-worn, tried and true. Nearly all have intensified over the past 3 years. It seems as if one could throw a dart on a trading dartboard and hit an anomalous trading pattern nearly every time. Even with that said, I was stunned to stumble on to the biggest trading anomaly of all: the MOAMOPE - the mother of all management of perspective economics.

    MOAMOPE is quite simply the stunningly high percentage of lower opens on the 6:00 PM silver access trade open. Perhaps some have noticed the oddity in the form of a Kitco 3 day chart.


  • Hard Asset Investments


    Iamgold recently reported its third-quarter 2015 financial results.

    It looked like a pretty decent quarter for the company, as all-in sustaining costs fell to $1,027 per ounce, down $50 from last quarter and almost $100 from last year.

    The company's cash, cash equivalents and gold bullion position remains very strong at $783.4 million, compared to $627.8 million in long-term debt.

    With AISC expected to fall further in the coming quarters, I think Iamgold is a buy here.

    No mention of the fuel hedges. Why not pay off the debt?

    This management team says nothing about the ponzi gold price sham at Crimex? They prefer to hang on to the debt to keep the banking ponzi going.

  • Nov. 5, 2015 Christopher De Sousa


    Rubicon Minerals suspended underground mining and development activities at the Phoenix gold project.

    Trial stopping indicated that the geological structure at the F2 gold deposit was far more complex than what management originally thought.

    The stock price plunged by as much as 68% on Tuesday after breaking the news to shareholders.

    Rubicon is currently working on a new mine plan to evaluate the geological and economic framework of the Phoenix gold project.

    We downgraded our price target, again, for Rubicon Minerals to US$0.70 (C$0.90) per share from US$1.30 (C$1.70) per share and have a HOLD rating on the stock.

    Seeking Alpha

  • Reply to

    Futures Market Fraud

    by markedtofuture Oct 30, 2015 5:53 PM
    markedtofuture markedtofuture Oct 30, 2015 6:36 PM Flag

    Even Dennis Gartman openly suspects that the gold market is rigged

    Submitted by cpowell on Fri, 2015-10-30 20:44

    From The Gartman Letter
    Suffolk, Virginia
    Friday, October 30, 2015

    As for the precious metals, the selling late Wednesday and all day yesterday was indeed severe, and even our positions in gold/euro and gold/yen have seen severe damage wrought upon them.

    We find it hard to believe that the mere suggestion by the Federal Open Market Committee in its post-meeting communique on Friday that "liftoff" on the overnight Fed funds rate may take place at its December meeting can be responsible for this sort of egregious, serious, and now relentless selling, and we are almost of the mindset associated with the likes of the gold bugs and GATA that some malevolent "force" was behind the selling.

    However, we are not going to travel down that road at the moment and sit tight with our positions, believing that the continued "experiments" with QE undertaken by the Bank of Japan and the European Central Bank shall work to the detriment of their currencies and to the support of gold. Nonetheless, the last 36 hours have been terribly dismaying. ...

  • markedtofuture by markedtofuture Oct 30, 2015 5:53 PM Flag

    TF Friday, October 30, 2015 at 11:56 am

    As we begin another Spec rinse cycle on The Comex, we thought it best to remind everyone once again of the fraudulent nature of the short selling that takes place there.

    The central component of any futures market is the physical asset that backs the exchange. Though we can't be certain of exactly how much gold is in the Comex vaults (recall the disclaimer added in June of 2013:

    we can be certain that it is nowhere near the amount needed to settle the thousands of paper claims written against it.

    And it is the unlimited ability of the "market-making" Bullion Banks to create these paper claims that lies at the heart of the matter.

    Your latest example of Bullion Bank price manipulation and suppression through the use of this unlimited leverage has occurred this month. First, let's look at the CME Gold Stocks data as supplied by the CME Group. Note that the two reports below are dated October 1 and October 28:


  • Bloomberg..The U.S. plans to sell millions of barrels of crude oil from its Strategic Petroleum Reserve from 2018 until 2025 under a budget deal reached on Monday night by the White House and top lawmakers from both parties.

    The proposed sale, included in a bill posted on the White House website, equates to more than 8 percent of the 695 million barrels of reserves, held in four sites along the Gulf of Mexico coast. Sales are due to start in 2018 at an annual rate of 5 million barrels, rising to 10 million by 2023 and totaling 58 million barrels by the end of the period. The proceeds will be “deposited into the general fund of the Treasury,” according to the bill.
    The sale is the second time the U.S. has raised cash from the reserve, created as a counter-balance to the power of Arab producers after the first oil crisis of 1973-74. The U.S. may sell also additional barrels to cover a $2 billion program from 2017 to 2020 to modernize the strategic reserve, including building new pipelines.


  • Oct. 27, 2015 9:57 AM ET Fun Trading

    I believe this move is quite neutral in my book, because the company will reduce costs at Rosebel mine, which seems an important issue after the company reduced 10% of the workforce at the mine, earlier this month. However, it is a lot of cash up front that could have been better used to buyback the debt, in my opinion.

    The royalty that EURO Resources owned was:
    (Price of gold - $300) x 10% -- Using the base case-- which means around $85/ Oz based on the Rosebel gold production minus 2% royalty to the Suriname government. Which means a total production for 2015 estimated at 289K Oz.

    I came up with $24.6 million for 2015 -- 14% represents $3.45 million. IAG will repay for the acquisition in approximately 8 years assuming a constant price of gold around $1,150 / Oz, which is a bit pricy, in my opinion.

    IAG gets also a 14% stake in Columbus Gold.

    IAG has about $1.3 billion in liquidity with the cash on hand, bullion and a $500 million unused credit facility (renegotiating now). This is a strong cash position that can go a long way in this challenging market. This acquisition is therefore not very important at first glance.

    The debt is $644.6 million senior unsecured notes due October 2020. IAG has Repurchased $5.4 million (face value) in Q1/15, but seemed not in a hurry to buy back more despite a good cash position.

    The recent gold price weakness and the seismic event near the Westwood mine on May 26, 2015, has forced the company to review costs and outlook.

    Westwood mine is a young producing mine and this incident affected negatively the work schedule and operations. The company was forced to revise lower the company's 2015 production outlook from 110K Oz-130K Oz to 60K Oz-75 K Oz (7.98g/T) and thus, the full year will be 780k Oz - 815k Oz.

    One important issue with IAG is its overall AISC, which is running too high at still $1,076/ Oz, due mainly to the high costs at Westwood mine particularly. cont'd...Seek A

  • Are there any mining claims those Kroger properties. The bear market in precious metals should be winding down the next few quarters, where did the base metal folks go? It should be time to smart pac new investors.

    In 2006 Tara Gold, formed Firma Holdings when it determined that some investors, prefer lead, zinc and silver projects, rather than gold and silver projects, and that capital may be easier to obtain by separating gold properties from industrial metal properties. Although this was Tara Gold’s intention when it formed Firma Holdings, Firma Holdings nevertheless has interests in properties which may be productive of gold or silver. Firma Holdings formed Adit Resources Corp. (“Adit”) in 2009 to hold the Picacho Groupings and to finance the exploration and development of the Picacho Groupings solely from the sale of Adit’s securities. Adit in turns owns 99.99% of American Copper Mining, S.A. de C.V. (“ACM”). Firma Holdings owns 99.9% of the common stock of American Metal Mining S.A. de C.V. (“AMM”), a Mexican corporation and 87% of the common stock of Adit. Firma Holdings’ operations in Mexico are conducted through AMM and ACM, since Mexican law provides that only Mexican corporations are allowed to own mining properties.

    Our technology business segment owns the “SmartPac” technology. Purchased in May 2014, this technology can be used for the preservation and protection of fresh fruit, vegetables and flowers during extended periods of shipping and storage. The technology is comprised of patents, trademarks and other intellectual property pertaining to systems and methods for packaging bulk quantities of fresh produce and flowers incorporating modified atmosphere packaging.

  • October 22, 2015
    Pengrowth Updates Asset Disposition Process and Announces Agreement to Sell Jenner Area Properties for $80 Million
    CALGARY, ALBERTA--(Marketwired - Oct. 22, 2015) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) today announced that it has entered into an agreement for the sale of its non-core Jenner assets in south-eastern Alberta for cash consideration of $80 million. With the sale of Jenner and including letters of intent (LOI's) as well as previously closed dispositions, total expected disposition proceeds are now in excess of $300 million in 2015. In addition, Pengrowth has asset disposition packages in the market that have generated additional cash offers of over $450 million. The Company remains confident that it will successfully achieve its $600 million disposition target in 2015. The expected proceeds from these non-core asset sales will be directed towards reducing Pengrowth's outstanding debt as part of the Company's strategy of strengthening its balance sheet.

    Pengrowth's average daily production from Jenner during the third quarter was approximately 4,200 barrels of oil equivalent per day (boe/d) (weighted approximately 64 percent towards liquids), with annualized third quarter cash flow of $18 million. Proved plus probable (2P) reserves attributed to the liquidated assets were 14.1 million boe as at December 31, 2014, according to the independent reserve evaluators GLJ Petroleum Consultants Ltd. The Jenner assets are non-core assets, which are not strategic to Pengrowth's long-term business objectives and are not likely to receive any future capital under the Company's current business plans. The sale is expected to enhance Pengrowth's operational efficiency as the disposition will reduce the Company's well bore count by approximately 3,000 gross wells. This sale is expected to result in administrative savings as well as favourably impact Pengrowth's asset retirement obligation.

  • Reply to

    Allied Nevada Shareholders are fighting back

    by markedtofuture Oct 17, 2015 4:26 PM
    markedtofuture markedtofuture Oct 22, 2015 8:32 AM Flag

    Everyone needs to contribute a little something what ever you can afford! Let's keep fighting!!!

    It's nice to read some positive comments. Mediation is better than a total hose job. If the Debtors want to continue to shaft shareholders, there are other ways to make a point.

    There is plenty of time to get the evidence section of the new website updated. It will make it easier for certain folks to pick and choose what is needed.

    White Collar Crime Resource Guide: Statute of Limitations

    Securities fraud – 6 years for violations

40.16+0.13(+0.32%)Nov 25 4:02 PMEST