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Posted by Ororeef @ 16:30 on February 11, 2016  

Franco-Nevada Announces Increase to Previously Announced Bought Deal Financing to US$800 Million



TORONTO, ONTARIO–(Marketwired – Feb. 11, 2016) – Franco-Nevada Corporation (“Franco-Nevada” or the “Company”) (TSX:FNV)(NYSE:FNV) is pleased to announce today that, due to strong demand, the Company has increased the size of its previously announced public offering to 16,720,000 common shares (the “Common Shares”), at a price of US$47.85 per common share (the “Offering Price”), for aggregate gross proceeds to Franco-Nevada of approximately US$800 million (the “Offering”). The Offering is led by BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets, and Scotiabank. The underwriters will also have the option, exercisable in whole or in part, at any time for a period of 30 days following the closing of the Offering, to purchase up to an additional 2,508,000 common shares at the Offering Price to cover over-allotments, if any. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the Offering to Franco-Nevada will be approximately US$920 million.



Posted by goldielocks @ 16:11 on February 11, 2016  

Hill-billy  isn’t that a insult to hill-billy? Hill definitely wants to be Bill thought.

Yeah it’s hard to take back all the wrong that has been done to so many. It’s impossible to take back the lives lost or ruined in some cases but yet they go on in their clueless manner using the problems they cause or dismiss it if they can’t. We have a gov trying to control every aspect of our lives.
To the voters I guess can be summed up with cognitive dissonance. Some actually believe the lies and have no concept what some of the things they say will mean to the economy or distractions to what they’re doing or to the constitution. Then they wonder why they see people as angry because they’re dragging them down with them.
Lots of shooting stars popped up on PM stocks this morning.
Morning here anyways. In the meantime saw a bunch of firefighters walking around at a stop light holding boots. At first Im wondering if there real higher fighters. Yep they all look in shape must be. They were having a fund raiser for burnt firefighters so I donated twice. Once going one way once going the other. Besides it was kinda fun yelling hey you over here lol Just kidding they deserve any support they can get.


Fearless prediction so ya’ll can blame me for the pullback…

Posted by macroman3 @ 15:35 on February 11, 2016  

gold up another $75 tomorrow, due to the long weekend. Up another hunnert next week once China comes online.

more Asian carnage tonight, China to follow Monday with US closed

Comex special rules enacted by Tuesday because they laid a goose egg and it not golden.

Lehman weekend for DB and CS

edit; whoops forgot, Turkey shoot open season in Syria coming up pronto

And if that doesn’t curse it all, howaboot this…


Posted by Maddog @ 15:28 on February 11, 2016  

hi there..just watched some Bloomberg, who has Betty Liu on now ( can’t imagine how/why she got the job !!!!)

and she was chirruping how we are well off the lows etc…..she even kept a straight face…then again she probably believes it is all kosher etc.

Zika virus scam

Posted by newtogold @ 15:12 on February 11, 2016  



Maddog @ 14:50 the meter detected it

Posted by Floridagold @ 14:57 on February 11, 2016  


S&P made fractional new low

Posted by Maddog @ 14:50 on February 11, 2016  

ie: took out the Aug low….then boom we rally 20 pts plus, as the magic hand takes all offers….and of course au hit at same time.

This is now becoming a death match……where the Scum is in non stop to protect Lloyd and Jamie and all their Scum mates….I wonder when taxpayers were asked if that was OK. ?????????

Update…this could be the biggest ramp job ever…..do I hear 1000 Dow pts…they are that mad and that scared.

just wondering how bad today would have been

Posted by Floridagold @ 14:42 on February 11, 2016  

had the Japan markets traded last night  and the Shanghai traded last night.  Both were closed for Holidays.  They may pour more gas on the fire when they open tonight!


If Gold trades in a normal 2% Range

Posted by Ororeef @ 14:28 on February 11, 2016  

thats means a $40.00 up day suggests a $2000 Price is being discounted !

a $50.00 up day suggests a $2500.00 price is being discounted

and a $100 up day would  suggest a $5000.00 is forthcoming….JUST A LITTLE MATH

I always liked math !  hehe

Oh Canada!

Posted by Ororeef @ 14:18 on February 11, 2016  

1988 the price of a cup of coffee at Tims  .50  and today   1.58

price of gold  1988 was $500  and today =?

well a little   calculation    .41/1.58 x 500/x

x=$  1926.00       is where todays price should be !  just to get in balance with prior inflation

let alone whats coming !

ipso facto as long as they are not…….

Posted by WANKA @ 14:00 on February 11, 2016  


ipso facto @ 11:43 on February 11, 2016

Posted by Ororeef @ 13:58 on February 11, 2016  

You heard of “Browns Bottom  ?…Now Canadas got Trudeaus BOTTOM….hehe

We should ALL give thanks to Obama & JANET

Posted by Ororeef @ 13:54 on February 11, 2016  

Obama convinced us to buy Guns and now Janet convinces us to buy GOLD….’

Negative rates ?  A race to the bottom….OH NO !..its a RACE below the BOTTOM !

If Rates can go below the Bottom Gold can go higher than infinity  !

They keep trying to kill gold

Posted by Buygold @ 13:39 on February 11, 2016  

but it doesn’t want to die.

Agree with Ipso the end of the day will tell us everything.

Einstein a-go-go! Gravitational waves detected in scientific milestone

Posted by ipso facto @ 13:33 on February 11, 2016  

In a landmark discorvery, ripples in space and time first hypothesized by physicist Albert Einstein a century ago have been detected, with scientists suggesting that the observation of these gravitational waves could now open a new window for studying the cosmos.

The researchers said they detected gravitational waves coming from two black holes —extraordinarily dense objects whose existence also was foreseen by Einstein — that orbited one another, spiraled inward and smashed together. They said the waves were the product of a collision between two black holes 30 times as massive as the Sun, located 1.3 billion light years from Earth.

The scientific milestone was achieved using a pair of giant laser detectors in the United States, located in Louisiana and Washington state, capping a long quest to confirm the existence of these waves.

The announcement was made in Washington by scientists from the California Institute of Technology, the Massachusetts Institute of Technology and the LIGO Scientific Collaboration.

Gravity travels in waves, like light and other forms of radiation. But with gravitational waves it is space itself that is rippling.

more http://america.aljazeera.com/articles/2016/2/11/scientists-detect-einsteins-gravitational-waves.html

gtg bbl


Posted by ipso facto @ 13:31 on February 11, 2016  

Yep shares pulling back some … EOD will tell a story.

“hope for shares doing better” You would think so with the monster uptick in gold. I would rather have seen 3 up $15 days. Still there’s a lot of reason for encouragement today.

ipso facto

Posted by Maddog @ 13:12 on February 11, 2016  

Re Lines around the block….they shud have waited till the Scum knocked it back like now.

Shares under big pressure here….which means we have few buyers here and one never ending seller !!!!!

I was expecting the shares to be much better.

Lines Around The Block To Buy Gold In London; Banks Placing “Unusually Large Orders For Physical”

Posted by ipso facto @ 12:47 on February 11, 2016  


Kevin MacArthur is stealing candy from a baby if he gets LSG in this environment.

Posted by macroman3 @ 12:42 on February 11, 2016  

I’ll see if I can trace what happened when I had a schwack of Goldcorp and the Glamis deal.  Seems to me he was the fleecer and us G shareholders the fleecee on that one too. A little help walking down memory lane would be appreciated.

I’d be looking for a competing bid shortly on LSG. Maybe full circle back to Goldcorp?

goldielocks @ 11:20 I Laughed, I Cried….

Posted by Farmboy @ 12:22 on February 11, 2016  

The Trump/Hillbilly post was a funny, until I realized how many millions are still waiting in line to pull the Vote Lever for the likes of her. This country I call home is soooooo DOOMED! It aint even funny.

Jim Grant

Posted by ipso facto @ 12:18 on February 11, 2016  

de colores…

Posted by treefrog @ 12:09 on February 11, 2016  

miners’ indices even brighter green as the day progresses


Posted by goldielocks @ 12:06 on February 11, 2016  

We’re already in a doom situation thanks to the neocons.

Eeos, poor SIlvernoom. Hope he had stops.guessing shorts at 1200 + got taken out.  I picked up some silver gold Indian jewerly for a friend  insisting to pay my flight to visit at the drop then it took off and they got swamped. Good for American indians but hope they hurry up with mine who was first. So much for the action over there. Haven’t visited much but hope some didn’t get hurt and hope Margaret didn’t sell all.  What happened to Canuck?

Armstrong keeps increasing his resistance numbers. Think the last two were 1208 then 1220.  Yen appears to be turning up but haven’t checked past couple days or Euro.



Posted by Mr.Copper @ 12:05 on February 11, 2016  

Naturally it will be rough going thru the “growing pains” transition. Opposite of when they started globalization. It was FUN FUN FUN buying cheaper imported products, and opening profitable stores, hiring people to sell the crap to our unwitting neighbors.

Doof Bank, Doof Bank all the time

Posted by ipso facto @ 11:59 on February 11, 2016  

Deutsche Death Watch

Submitted by Dave Kranzler, IRD:

That place has been on death-watch forever. However bad it was before Anshu Jain was fired, it has to be worse now. – Former insider

Deutsche Bank stock has popped 6% today and the move was attributed to an announcement in the Financial Times that DB was looking at buying back several billion in senior bonds in the market at a discount – Financial Times

Before I get to the bond buyback farce, it’s safe to say the jump in DB’s stock is fully attributed to the rumor floated in Europe that the ECB was going to consider buying big bank stocks in an effort to shore up the appearance of a “healthy” banking system.

Furthermore, DB has been relentlessly sold and shorted since the beginning of 2016, down 31% in 25 trading days. It was due for a technically-driven, dead-cat, short-covering bounce. Central Bank intervention rumors being the perfect catalyst to frighten hedge fund computers into covering shorts and moronic perma-bulls into buying the dip.

Let’s first examine this notion of a bond buyback. The first item that will be pointed out by Wall Street puppets is that a bond buyback would enable DB to book accounting gains, thereby padding net income and book value. But the idiocy of this logic is that gains recognized from buying back bonds at a discount are 100% non-revenue, non-cash generating events. In fact, a bond buyback is a use cash – it further erodes the liquidity of the entity buying back bonds or stock.

In addition, if DB were to buy back its bonds in the market, why on earth would it pre-announce this? The only result this accomplishes, other than a brief surge in foolish optimism issued by perma-corrupt stock analysts, is to trigger front-running into DB’s bonds thereby increasing the overall cash cost of the bond buyback.

DB’s announcement was first reported in the Financial Times. You’ll note the FT asserts that “banks can generate capital gains my buying back bonds at a discount to their face value.” However this is highly misleading because the only “gains” generated are a non-cash generating accounting “gain” that is now permitted. It was an accounting change that was passed after the 2008/2009 collapse which gave banks the ability to fabricate net income for the purposes of padding their retained earnings and therefore their book value. It’s nothing more than legalized fraudulent accounting.

Curiously, Reuters referred to DB’s announcement as an “emergency buyback plan on senior bonds.”

The FT alludes to DB having 220 billion euros of liquidity reserves with which to use for a bond buyback. However, glancing at DB’s latest balance sheet, I can only find 102 billion consisting of 27 billion euros in cash and cash due from other banks plus 75 billion euros in interest bearing deposits with banks.

Notwithstanding the risk embedded in “cash due from others” plus “deposits” with other banks, if DB truly had 220 billion euros of “reserve” liquidity, we would not be having this conversation, DB’s senior credit default swaps would be trading at +100 spread instead of +250, it’s subordinated CDS would be trading at +200 instead of +450 and the stock would still be well above $20 instead of staring down the barrel at $10.

But let’s take a closer look at DB’s overall balance sheet, something which clearly no Wall Street analyst or financial bubblevision moron has ever experienced. DB’s latest balance sheet from 9/30/15 shows “total financial assets at fair value” of $881 billion euros; 71 billion euros of “assets available for sale; 428 billion euros in “loans:” and 153 billion euros in “other assets.” All told it reports 1.7 trillion euros in total assets, leading to a declaration of 68 billion euros in “total equity” (book value). That’s an eye-watering leverage ratio of 25x.

Now let’s take a look at the quality of the assets listed above. DB has very heavy asset/loan exposure to emerging markets, energy, peripheral European credits (like Greece, Italy and Spain), commodities, Glencore and leveraged finance/high yield. And of course there’s the 60 trillion or so in derivatives. But we are leaving that out for purposes of this analysis.

Although DB made a big production out of the 6 billion write-down and loss it would take in its third quarter, 5.8 billion of that was a write-down of goodwill and intangibles. Considering DB’s exposure to the collapsing asset sectors listed above, this 5.8 billion write-down of what amounts to thin air anyway is nothing short of shocking. I would conservatively estimate that the 1.53 trillion euros of financial assets + for sale assets + loans + other assets should be written down by at least 20%. That would imply that, conservatively, DB could write-down its assets 306 billion euros and likely still be overstating the value of its total asset base. A write-down of that magnitude would imply that DB has negative net worth of 238 billion euros.

In other words, DB is technically insolvent. When I did this exact same analysis in early 2008 on JP Morgan, Lehman, Wash Mutual and Countrywide, my write-down estimates turned out to be exceedingly conservative. I would wager anything that my analysis above is “exceedingly conservative” x 2.

Keep in mind this entire analysis does not include DB’s derivatives. It’s fine with me if DB management wants to puff up its image by taking a few billion of liquidity that it technically does not have and buy back some of its debt. I could care less. But anyone who is not selling their stock into this rally is a complete moron.

The only thing demonstrated to me by DB’s bond buyback bravado is that investors learned nothing from 2008/2009 and bank upper management and directors are even more corrupt now than they were 8 years ago.


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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.