Never go to any spam third party website and never-never give information for any signup if you use MS programming including IE. They will turn off your 'data execution prevention' and your NAP. If you turn DEP back on, within a second it will be off again. There is no security to stop this.
The US DRY Dollar will be weak, but we are seeing manipulation overseas. I'm a bit more focused on China and the transfers of bank funds in Europe - euro, than the obvious job report numbers for metals. So the DRY, which is what I'm watching shouldn't still be considered a consideration (last post) for direction of metals. Because of large transfers of funds in Europe and US bond holdings we have a weak dollar, but don't trust that for metal movements today. I would hold mining holdings, unless you quick trade.
They both moved somewhat together in direction including the U dip. Historically the dollar and EXK mostly move in opposite directions. My mention of 'inverse' means the opposite of normal as EXK was following the dollar in direction. EXK doesn't often follow the dollar - inverse . AND I probably should had said inverse of normal.
Today we had a dollar inverse to the chart of EXK. We have some smart money here. One reason is the Russian ruble. Russia’s ruble turned stronger on Tuesday after taking a hit. USDRUB -1.37%. Politics aside, Russia doesn't want a weak ruble. The London gold setting banks stayed with their morning fixing so corporate investment banks doing business with Russia could close several large deadline asset deals. ADP private jobs report and Friday's employment report will be worth only a blink as with blinking Putin.
I wish that I could find 10 million in gold coins like that couple did, while walking their dog. They live just up the road from me. From where I'm sitting now, I can look out of a glass door (20 feet) and see large nice looking rocks from a past gold mining operation. When I lived in New England, my dad found one gold coin, dated 1794. All I ever found was old medicine bottles and marbles.
"Revenue was up 2% to approximately US$67.9 million as a result of the increased precious metals production ..."
"At Guanaceví, the plant operated well above plan in the Fourth Quarter, 2013, processing over 1,300 tonnes per day (tpd) at higher than planned grades and recoveries. As a result, Guanaceví achieved record silver production in the Fourth Quarter, 2013 and reported its highest ever annual production. Throughput, grades and recoveries are expected to pull back closer to plan over the long term."
"At Bolañitos, mine output was reduced in November, 2013 to the 1,600 tpd capacity of the plant and grades and recoveries continued to exceed plan. As a result, Bolañitos also set both quarterly and annual production records in the Fourth Quarter, 2013. No excess mine output is planned from Bolañitos near term to fill the El Cubo plant to capacity, as the focus is now on expanding the El Cubo mine output."
Revenue from the sale of concentrates is subject to adjustments upon final settlement. Concentrate sales are subject to mark-to-market accounting treatments resulting in quarterly closing prices used for a significant portion of metal sales. Reported revenue and realized prices include adjustments to prior quarter sales on final settlement.
El Cubo will dance this year and San Sebastián will rock (pun) with rich high-grade ore of both gold and silver in future years.
Remember that Brad said this:
"Endeavour's mining operations delivered another exceptional year in 2013, significantly outperforming our production guidance which we revised upwards in September. Each of the three mines contributed above their mine plans for the year, with higher plant throughputs, ore grades and metal recoveries across the board. The Bolañitos mine in particular deserves special mention for delivering more than one million oz silver above plan in 2013."
Cooke has provided all production numbers for 2013 (entire). Note: Most silver production for the 4th was sold by end-of-year, not all. Sub the first three quarters from that (full year) and you get:
Production for Fourth Quarter, 2013
Silver production 1,931,717 oz
Gold production 17,686 oz
Silver equivalent production 3.0 million oz
Revenue rose 2% to an estimated $67.9 million on 2,155,326 silver oz and 18,960 gold oz sold
Realized silver $20.52 per oz sold
Realized gold $1,246 per oz sold
Plant throughputs, ore grades and metal recoveries were higher at all three mines
Bullion and concentrate inventories were sold to avoid the new mining taxes effective at year-end.
In the last 2 years, I have many posts on the geological aspects, based on 300 hours of research. That research involves mapping with tools, reading mineral vein history, etc; and talking to private geologists. I haven't been wrong about assumptions of mineral assets before they were reported, yet. They are aware of the their rich vein systems. More property isn't needed. It's all good, but we need to give it time. EXK can't report on mapping, geo history - (Micon Report) or make much to do about drilling, but their business plan going forward is genius.
About book value and what really counts. The only reasonable way to evaluate a mining company is to look at the net present value of the potential future cash flow with a discounted rate. Cash flow and capital costs need to be considered. By adding all the net present values together with any other assets on the balance sheet and by subtracting any debt, you will arrive at the net asset value per share. This is why operating and profit margins are important. Mining stocks almost always trade for more than the net asset value of their constituent mines.
Operating profit margin (TTM) should be a solid 10 as in (1 -10) at about 14%. Net profit margin should also be a solid 10 at over 15%. Both are well above industry averages. Earnings will be great. We will beat.
Crusaderdog, that's interesting. With warrants as part of the mix, it's almost a given if the deal closes, that the stock will trade above 15c fairly soon after.
I closed trade just in time - was in caution mode with other stuff. Consumer data will still be something to watch Tuesday. Banks will be asset management mode at lightening speed.
What's your opinion on this: Playing a down trade on the dollar - now, but I'm not sure when to close. I sometimes judge consumer data as being weaker than the actual. Friends on the FX don't know (below) for sure either.
"A clue on the weather impact could come Tuesday from the consumer-confidence data, said Christopher Vecchio, currency analyst at DailyFX, in a note. “This is under the assumption that if weather-related factors are the true causes of recently disappointing U.S. data, then the confidence of consumers is likely to be little impacted,” he said. "
Analysts like to see mark-to-market --- NI 43-101 - mentioned in report. Bankable
Laymen definition of standard categories of resources:
Proven & Probable (P&P): These are bankable mining reserves – basically Measured and Indicated resources with established commercial value. This is what most producers actually mine.
Measured & Indicated (M&I): These higher-confidence categories have been sufficiently drilled to establish their geometry and continuity reasonably well.
Inferred: The lowest-confidence category, based on just enough drilling to outline the mineralization. In many cases, Inferred resources (as the name suggests) are really just guesses at what might actually be there.
I understand that their news release is confusing by mixing several different kinds of fruit in the same basket. They need to do a re-write.
We done the talk on externals, but the connecting catalyst is internals. I've mentioned Asuncion - Villalpando as with mapping and historic values in the past. I thought that EXK would be focusing on this.
Article EXK's Yahoo homepage - "Endeavour Silver Reviews 2013 Exploration results and Plans for 2014."
CAS - 29, 31,32 --- Big numbers. They are there now. We will have some big quarter results coming.