Great timing - first time here today. Some points: I'm not focused on Currency TA tonight other than support lines, as JPM should be selling dollars and buying gold. JPM is the most active tonight, which is unusual, but they do control the media besides Goldman. With the regulation proposal where all banks can trade gold, I see things to heat up. Australia, Asia - Pacific and more confidence in Europe is rolling. I have a separate screen with flowing data of bonds from Europe and that's key going into Monday. Lending and settlement rates (Europe) ---- at 12:30 PM Eastern and 9:30 AM Pacific, will be important tomorrow on direction of gold and silver for the rest of Monday. It's hard to know if we will drop below 79 tomorrow, but just follow the yellow brick road, and if a witch appears, step aside for the day. The witch or princess would be European bonds.
Here is the rest of part 1 and part 2.
So imaging sensor technology has undergone rapid advancements that have enabled explorers to collect increasingly more useful data. When the technology was in its primitive stages, geologists used the sensors to collect simple data, such as surface features, and used this data to provide clues to a potential mineral deposit beneath the surface. This surface data was also used as a tool in mapping. Now, satellites fitted with “more advanced” sensors use the spectral properties of materials (what wavelengths of materials they absorb/reflect) to identify the materials without having to view them “in person.” This spectral data can be collected by sensors mounted on satellites, and these sensors use infrared, near infrared, thermal infrared and short-wave technology to collect the data.
Part 2. The sensors interpret the electromagnetic data in wavelengths that the human eye is unable to distinguish. The differences in absorption and reflection are analyzed and translated into assigned colors that are differentiated for each type of rock and each group of wavelengths. Other wavelengths can identify certain minerals of interest. Geologists use data interpreted from satellite images to pick out rock units and seek surface clues such as alteration and other signs of mineralization to subsurface deposits of ore minerals underground. These new satellites carried the TM (thematic mapper) scanner. The TM system added coverage in the short-wave infrared and mid-infrared regions of the spectrum. Collecting data from these regions enabled the collection of data that could be used as a tool for identifying alteration mineralogy on the earth's surface potentially indicative of economic ore deposits. The thematic mapper is still routinely used as an exploration tool, however, since its introduction, other satellites were launched that had higher spectral resolution and could, therefore, provide more accurate data in determining minerals.
Hi shiftsuper: I'm not sure if you are referring to my recent mention of the mineral image of El Inca or mining satellite images in general. I'll talk a little about both.
For El Inca, place in your browser (I'm using Bing) ---- El Inca mine Chile satellite image. Then go the second topic titled El Inca, Chile. Under this is written:
"Location map of El Inca and other large silver deposits in Bolivia-Argentina-Chile : Satellite image of El Inca showing major veins and large altered intrusive centre."
Note: This image is acceptable, but is no where as good as some other services.
A background - I'll repost just part of Part 1.
by newscentral2002 • May 6, 2013 11:35 AM
Part 1. In the post titled 'Beastinem' - GeoEye - the Aster satellite with high resolution will show you where technology has headed. EXK has billions of dollars in gold and silver and they know this. New imaging developed (Nov 2012) has now been updated. The TR vein system has wide open gold and diamond drilling appears to be mostly completed. With the ability to determine texture and petrology from miles above the Earth's surface, GeoEye is locating, analyzing, identifying and mapping the structure and composition of the Earth's surface is now greatly advanced. Using remote sensing enables explorers to collect data without having to visit the actual location, exponentially increasing the amount of data that can be collected in a given time, and enabling the collection of data from areas that would be inaccessible by foot, due to climate, topography, or location. In addition, the advancement of remote sensing, has enabled exploration companies to combine a variety of data sets, obtained from both remote sensors and surface exploration activities, such as historic drilling to pin-point, with a greater amount of accuracy, the location of potentially viable deposits of minerals.
Mistake in wording in first line. Should be 'from income".
yellowcakeman - What interview are you talking about? I can't find your quoted wording from Brad.
For EXK, the tax rate would be 3.6%, as the tax would be deductible as income. Under the Federal Rights Law, EXK would not be required to pay additional taxes. About $2.5 billion is directly invested in mining in Mexico by foreigners per year. Millions of dollars (still working on a figure) are spent on local communities by miners that are incorporated from Canada or the USA.
Proposals for community credits may be written into the mining tax laws that would reduce EXK's tax accounting responsibility somewhat under 3%. Thousands of jobs for locals are on the line (the number remains to be seen) - but does the government of Mexico really care? Sixty percent of Mexicans don't pay taxes and get little to nil support from their government. This will not change as the $8 billion proposed increases for mining taxes will end up in wealthy hands. The proposals that the Mexican government has stated for use of those funds is laughable. Their economic class structure is different from ours, as our middle class are the ones without support and fairness, and that's not laughable.
I gave an estimate at 0.05 weeks ago when analyst estimates were much less and in the red. Mainman gave an estimate and it was close to my estimate. Analyst are now in-line, but it's also nice to see that INT holdings increased share holdings from 17% to almost 30%. This is partly due to externals, the dollar against bullion currency pairings, but there are internal surprises, or lack of prior attention on certain mine assets.
One confirmation is El Inca in Chile, where they have identified potential bulk-tonnage and high-grade silver and porphyry copper. There is a satellite 'in your face' mineral colored picture on the web showing all 447 hectares. I estimate that a sale of this property would bring millions. Rather not give a number, but we are talking serious cash. Our largest hedge funds have mapping, and when the mineral image of El Inca appeared on the net, our largest fund (hedge) increased their position by one million shares. They have 15 geologists and mapping.
I was going to post last night to take all articles by 'Reuters' with a grain of salt. They mislead for the powers to be.
There's several logical ways to look at it. Some are:
Irresponsible actions of debt by government - PM investment protection against what we can't control beyond manipulation as in working over the honest citizen with end results of higher costs of water, energy, football tickets, college education, etc. The truth also is that metals as a currency is one of the few ways that we can make a statement.
We are the jury, our only given honest right. In the movie 'The Verdict', justice from closing arguments is called 'We the People' and honest people at that.
It has taken gold down from being up 6.50 to +1.70. Silver is still up a nickel. This USD reaction came about 45 seconds before gold reacted. This is why I had said (last 5 years) that currencies will react before metals. I consider TA for currencies - as in a minute, but not for gold/silver, other than longer moving averages. Currencies react to news and data in real time movement first, where futures have delays. Of course none of this should really matter to holding longs of EXK. Things will get better for us - as to all that we have discussed in the last two weeks.
My big play tonight is AUDUSD. Two smaller positions are EURUSD and USDJPY for balance. Strong PMI from China is really helping the AUD. At this time Gold is up 6.50 and silver is up a nickel. Both should be up more per first sentence.
I was prepared and often did short the dollar with pairs since Feb. (3 posts in Feb. history), but reading commodity movements has been more difficult since that time. When bullion trading currencies are doing well for an extended period, manipulation will hit gold, unless a falling underlying currency like the USD has middle class property asset values in demand. The stock market is not paying attention to the struggles of the middle class. We need property values to rise in China- Asia more than in Europe and that is happening. Trading currencies is so simple if you focus on value assets. As 'mainman' said; I have a longer outlook for EXK, but we may see a strong upward move sooner based on hedging sentiment, not CBOE sentiment. Disclosure: Still have a core; placed a buy order @4.65 in the morning and went to bed. I had it at 4.62 and changed it to 4.65. Just luck, all luck.
De-crowning the dollar, and the 'collapse' ahead
By Michael Pento | CNBC – 9 hours ago..
China, the largest U.S. creditor with $1.28 trillion in Treasury bonds, recently put out a commentary through the state-run Xinhua news agency stating that, "Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated."
In addition, Japan (our second largest creditor holding $1.14 trillion of U.S. debt) put out a statement through its Finance Minister last week saying, "The U.S. must avoid a situation where it cannot pay, and its triple-A ranking plunges all of a sudden."
The real problems of government largess, money printing, artificial interest rates, asset bubbles and debt have not been addressed at all. Rather, Washington has merely agreed to perpetually extend its lines of credit and to have the central bank purchase most of that new debt.
Instead of placating the fears of our foreign creditors we have cemented into their minds that the U.S. dollar and bond market cannot be safe repositories of their savings. The eventual and inevitable loss of that confidence will ensure nothing less than surging prices and a complete collapse of our economy.
A platinum plan for a family in Wisconsin will have an average monthly premium $1,429.54, while a mid-level silver plan will have a $924.92 average monthly premium. If you live in California, you better have the platinum plan. Gee, some neighbors down the street from me are living in a 695,000 home and get medical coverage for free. They came to this country in April and don't have jobs, but they wear leather clothes and drive expensive cars. Another person has told me that her employer cut her hours to part time due to Obamacare.
Both internal and external is looking good. Been convinced for eight months that the dollar would fall. The 10 year bond has fallen to my mark on a mention about two weeks ago. It is sad that jobs aren't important to greed city. Although with so many giveaways, some just don't want to work. This will continue to hurt the responsible middle class. The middle class isn't the group that government and industry are trying to court. Manipulation (corporate, government, and any establishment under the title of bank) is still a concern with all risk markets - as private concerning investors like us, are not in control, but there are certain hedge funds seeing stuff our way with metals.