Tharisa seeks through the cycle profits, eyes payout lift

THARISA, a company that mines for chrome and platinum, was one of the best performing mining shares on the JSE last year largely owing to an incredible improvement in the price of chrome. At one point, shares in the firm reached R28/share which was not too far from its opening listing price in 2014 of […]

SA cabinet approves mining charter ahead of gazetting: report

THE South African cabinet approved the draft mining charter on Wednesday (May 24) which is said to include a requirement for a minimum 30% black ownership, said Bloomberg News. The charter will be released for public comment once it had been gazetted, the newswire said citing two people familiar with the situation. The current black […]

Mile Markers on the Road to Ruin – Gary Christenson

May 25, 2017 We know much is currently wrong with our financial world, as discussed in the James Rickards book “The Road to Ruin” and elsewhere. The official U.S. government debt is nearly $20 trillion. Unfunded liabilities are 5 – 10 times larger. Debt has doubled every 8 – 9 years for decades – since […]

Fear grows Lonmin edging to fourth rights issue in eight years

ANALYSTS remain as sceptical of Lonmin as ever judging by their comments following the platinum producer’s half-year figures earlier this month in which cash on hand fell to $75m from $114m in the six months of the prior year. According to a report by Citi analysts, Johann Steyn and Shashi Shekhar, there’s a risk that […]

Fear grows Lonmin edging to fourth rights issue in eight years

ANALYSTS remain as sceptical of Lonmin as ever judging by their comments following the platinum producer’s half-year figures earlier this month in which cash on hand fell to $75m from $114m in the six months of the prior year. According to a report by Citi analysts, Johann Steyn and Shashi Shekhar, there’s a risk that […]

Debts, Bastiat and modern economics

There is a well-worn conundrum told about a stranger, who walks into the hotel in a remote, sleepy village in Mexico, and reserves a room for the night, paying 1,000 pesos in advance. The innkeeper rejoices at this unexpected turn of events, for the village is remote, few people have any reason to go there, […]

Implats to refinance balance sheet as metal prices languish

IMPALA Platinum (Implats) is to refinance its balance sheet after it today announced the terms of two convertible bonds which will replace existing convertible bonds that fall due in February 2018. It will issue R2.6bn and $300m in convertible bonds at an interest rate of between 6% and 6.75% for the rand-denominated debt and 2.875% […]

New Home Sales Plunge 11.4% In April – Dave Kranzler

May 24, 2017 So much for the jump in the builder’s confidence index reported last week. The Government reported a literal plunge in new home sales in April. Not only did the seasonally manipulated adjusted annualized sales rate drop 11.4% from March, it was 6% below Wall Street’s consensus estimate. Analysts and perma-bulls were scratching […]

Precious Metals Fundamentals: The Numbers Don’t Lie, Part II – Jeff Nielson

May 24, 2017 The previous installment focused on establishing two of the dominant fundamentals of the precious metals market: a) Gold and silver are currently priced below the cost of production necessary to sustain these industries. b) The gold and silver markets are both experiencing long term supply deficits because these metals are priced below […]

Weekly DOE Oil Charts – May 19, 2017

Our quick take on the WEEKLY SUPPLY ESTIMATES published by the US Department of Energy (DOE) including detailed tables and charts. This week’s highlights: Conclusion: After last weeks somewhat mixed stats, this weeks stats continue the bullish trend. Inventories keep declining counter-seasonally, implied demand looks strong and refineries working at a record pace. WTI time-spreads […]

CoM not met with DMR for two months despite charter imminence

THE Chamber of Mines (CoM) had not met with the Department of Mineral Resources (DMR) for two months regarding the mining charter despite the imminence of a third iteration of the crucial document. “We have participated in several discussions and provided input with DRM and our raised concerns,” said outgoing CoM president, Mike Teke, at […]

Acacia insists it declares minerals as Tanzania affirms export ban

ACACIA Mining insisted it declared the value of all its exported minerals despite a report presented to Tanzania’s president John Magufuli today which found mineral exporters had under-estimated minerals contained in concentrate which are currently banned from exportation. The impact of the export ban means UK-listed gold miner, Acacia Mining, is losing some $1m in […]

Acacia insists it declares minerals as Tanzania affirms export ban

ACACIA Mining insisted it declared the value of all its exported minerals despite a report presented to Tanzania’s president John Magufuli today which found mineral exporters had under-estimated minerals contained in concentrate which are currently banned from exportation. The impact of the export ban means UK-listed gold miner, Acacia Mining, is losing some $1m in […]

Vedanta to increase copper ouput from Zambia mines in 2017

VEDANTA Resources is planning to improve production at its Zambian Konkola Copper mines after a difficult full year to March 2017 in which mined copper metal output was 23.5% lower at 94,000 tonnes. According to Vedanta Resources chairman, Anil Agarwal the group is focused on “… initiatives both to ramp-up volumes and develop captive power […]

The Golden Revolution, Revisited

Back in 2012 John Wiley and Sons published my first book, The Golden Revolution, the core thesis of which was that a longer-term consequence of the global financial crisis of 2008 would be the remonetization of gold. This would occur initially at the international level, that is, as a mean to settle accumulated international imbalances […]

Low Volatility Extended to Gold Market

The demise of volatility has extended to the gold market Both realized and implied volatility in most asset classes are close to all-time lows. One of the most interesting aspects of the low volatility phenomenon is that has extended to the gold market, where the implied volatility of gold in USD in the front end […]

Tanzania’s Magufuli due to hear gold export ban report today

TANZANIA’S president, John Magufuli, is due to hear report findings today regarding the export of concentrates that has seen the East African country ban sales of copper and gold. The impact of the export ban means UK-listed gold miner, Acacia Mining, is losing some $1m in revenue per day – a development that has seen […]

Gnome Underpants Gold Model – Keith Weiner

May 23, 2017 There is an often-promoted plan to grow your wealth. Here’s the background. The dollar is going to be worthless. Soon! The reason is because [their peeps in high places tell them / the Chinese / end of the petrodollar / historical fiat currencies / Rothschild Jekyll Island Master Plan Private Fed / […]

Thirteen Reasons Why: America’s High Schools Are Creating (Another) Lost Generation – Peter Diekmeyer

May 23, 2017 Normal 0 false false false EN-CA X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0in; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:”Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-ansi-language:EN-CA;} Netflix’s recent announcement that it would be producing a second season […]

Some Perspective On The Latest Commitment Of Traders Report – Craig Hemke

May 22, 2017 Last Friday’s CoT for the Comex Metals was rather interesting from a historical perspective. Because of this…and because we know that not everyone listened to Friday’s podcast…it seemed appropriate to type up this written summary today. Before we begin, it is VERY important to note the restrictions that have been deliberately placed […]