Good points as to China
The middle class in China and India are giving demand to gold
There will be an informal IMF board meeting this May to review the SDR basket of currencies. The main issue will be inclusion of the RMB, but that decision will not be formally reviewed until sometime this Fall. No changes can take effect prior to January 2016, based on a required 70 or 85 percent majority vote on the IMF council.
March 6, 2015 - THE CALL
They plan to receive permits within six months and to file a PFS by midyear. The company plans to start production at 1000t/d rising to 2000t/d with capex around US$70mn.
Externals - As said it's all been about a strong $dollar, as with everything$ on the planet.
Internals - Cost cutting measures are taking place. It's always been about San Sebastian. Look at the indicated numbers for San Sebastian. In time to come, those numbers will grow. They need to develop SS.
Silver-Gold Measured and Indicated Resources
Tonnes Ag g/t Au g/t Ag Eq g/t Ag oz Au oz Ag Eq oz
Guanaceví 53,300 192 0.28 212 329,400 500 362,500
Bolañitos 66,300 127 1.59 239 271,500 3,300 508,500
El Cubo 737,700 171 2.74 363 4,063,700 65,000 8,616,400
Total Measured 857,300 169 2.50 344 4,664,600 68,800 9,487,400
Guanaceví 1,149,300 317 0.85 377 11,719,700 31,400 13,913,400
Bolañitos 1,045,300 112 1.97 250 3,765,700 66,300 8,409,500
El Cubo 1,747,700 172 2.42 341 9,658,200 135,900 19,166,600
San Sebastián 3,091,400 221 1.70 340 21,931,100 169,200 33,778,600
Guadalupe y Calvo 1,861,000 119 2.38 286 7,147,300 142,500 17,123,800
Total Indicated 8,894,700 190 1.91 323 54,222,000 545,300 92,391,900
Total M+I 9,752,000 188 1.96 325 58,886,600 614,100 101,879,300
It's been awhile since we last talked. The USD is still matching and the European Central Bank is moving into the bonds for their first purchase of 60 (euro) billion. I'm not sure how far they will be able to go with this as there may not be a lot of bond liquidity paper.
Internally, it's still about San Sebastian. They'll need at least 50 million for development. They'll also need to leave a few million in the bank.
Nice hearing from you. LOL
As a source, logical sense is often seen as non optimal on message boards. Some look for self circumstances and are blinded to the rational thought that one really has posted. I haven't been bullish except with the exception of calling the best two swings in 2014. Both from a bottom entry to the tops where I said I sold.
Sometimes I hedge, counter, or balance the stuff that I own. I have a few shares of EXK that I bought at 3.85. I sold dollar pairs on Monday as I believed banks were starting to close long dollar positions with more likely coming because of manipulated pricing. It's obvious that Greece will be adding debt-swaps to replace perpetual ECB holdings of their debt, along with bonds indexed to growth. I believe that the banks involved as both guardians and investors sold certain dollar pairs as in conflict of interest and for profit over loss, now and later. I bought GNB Monday because I thought that the dollar would be falling on Greek debt examination. I sold GNB today.
I did, a while ago. It's still holding some strength. It was just a small hedge, so my profit was small.
Yesterday US Dollar indicators signals had flashed a bearish Evening Star candlestick pattern with weakening RSI divergence. I then changed course for a quick play with Greece National Bank up over 25% today. I don't plan to hold GNB.
Totally agree, well said, but not sure about more QE. I'll post more thoughts maybe this weekend. I didn't give you that thumbs down.
For the slightly longer term, it may be just as important to watch the US housing market. Consumer confidence, retail, jobs, interest rates and FED policy should reflect from this. We may see some headwinds and swings with gold.