Posted by treefrog
@ 11:08 on February 25, 2020
hui and mining stocks doing well in spite of metals price beatdowns.
Posted by Maddog
@ 10:56 on February 25, 2020
as with both Bonds and SM unable to rally, after 1st hour that is v bad…… Gold shud be flying here, but the scum are clearly going flat out into the wall….I dread to think what their losses are.
Posted by ipso facto
@ 10:25 on February 25, 2020
SM headed down. Can’t even get a dead cat bounce! The writing’s on the wall and it’s some nasty graffiti!
Posted by Richard640
@ 10:16 on February 25, 2020
Posted by goldielocks
@ 10:14 on February 25, 2020
Posted by Richard640
@ 10:09 on February 25, 2020
Trannies [down 83] and bonds are telling the truth…
https://finance.yahoo.com/quote/%5EDJT?ltr=1
Posted by Captain Hook
@ 10:08 on February 25, 2020
Who knows. The fundamentals call for substantially lower stock valuations but the machines are working bearish gamblers hard so it looks like a stalemate right now. If the gamblers back off buying puts on the indexes stocks could continue lower tomorrow.
Cheers
Posted by Richard640
@ 10:02 on February 25, 2020
Posted by ipso facto
@ 9:55 on February 25, 2020
Posted by ipso facto
@ 9:37 on February 25, 2020
Posted by Buygold
@ 9:36 on February 25, 2020
aren’t acting like a big selloff is coming – at least here in the early going.
Do we actually have dip buyers in the sector for the first time in a decade?
Posted by Buygold
@ 9:33 on February 25, 2020
the rate on the Ten yr. is still down a tick to 1.37%
Bears watching because I’d think if they don’t start to tick back up, this bounce in the SM won’t stick.
Just sayin’
Posted by Maddog
@ 9:10 on February 25, 2020
but as R640 says a vaccine won’t be ready for months in quantity, or testing…so that may account for the o/n rally then sell off, as people realised, it can’t stop the economic damage
Posted by Richard640
@ 8:35 on February 25, 2020
(All dollar figures are in US dollars unless otherwise indicated)
New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD)is pleased to announce that it has entered into a strategic partnership with Ontario Teachers’ Pension Plan (“Ontario Teachers’”). Under the terms of the strategic partnership, Ontario Teachers’ has agreed to acquire a 46.0% free cash flow interest in the New Afton mine (“New Afton”) with an option to convert the interest into a 46.0% joint venture interest in four years, or have their interest remain as a free cash flow interest at a reduced rate of 42.5%, for upfront cash proceeds of $300 million payable upon closing of the transaction (the “Transaction”). The proceeds from the Transaction will be used to improve New Gold’s financial flexibility and to reduce net indebtedness.
Posted by Richard640
@ 8:33 on February 25, 2020
looks very weak–treasuries are green…not by much…I see a 10%-20% correction at a minimum…Trump mentioned a vaccine today–that is nonsense–it takes a long time….they can’t just start a massive vaccination campaign on an untested vaccine
TIA, Pal-!!
Posted by ipso facto
@ 8:22 on February 25, 2020
https://finance.yahoo.com/news/argonaut-gold-announces-fourth-quarter-120000512.html
Otto Rock comments:
Argonaut Gold (AR.to) impairs half its market cap
You have to scroll down the YE results NR to get to the fun paragraph as they don’t seem to be too keen on this info at the top of the missive. But make the effort, because when you do…
There were two significant impairment write downs in 2019: first, a write down of mineral inventory at the El Castillo Complex ($15.4 million) and La Colorada mine ($12.1 million) primarily related to changes in the expected recovery of gold ounces in the leach pads and second, a non-cash write down of the book value of the San Antonio project ($111.0 million) following the denial of the permit application. The associated tax impact of these, along with other results from operations, was an income tax recovery of $15.4 million compared to income tax expense of $6.7 million in the same period of 2018.
…you get to read how a C$276.5m market cap company has just written off assets to the tune of U$111m. That’s over half its current market cap in Loonie terms.
https://incakolanews.blogspot.com/
Posted by Buygold
@ 6:54 on February 25, 2020
Yep. They’ve now taken away all gains from yesterday’s SM drubbing. As is the norm, pm’s can never be seen as a viable alternative to anything during a crisis.
That being said – you’re right GLD has an RSI in the stratosphere above 81 so we could drop a quick $30-40 to relieve the overbought.
I expect the shares to be the tell. We’ll see how beaten up they get on any move down.
Posted by Maddog
@ 6:42 on February 25, 2020
Seems they are trying to break the PM rallying with SM declines…..Gold shud have gone above 1670 when the SM gave back all gains and sniffed the lows…but it was sat on and now getting hit as soon as SM rallies.
Still we are overbought…but that never bothers the SM …
Posted by Buygold
@ 6:23 on February 25, 2020
but seem to have lost steam throughout the night.
They’re giving our silver a bit of a beating, gold a little too.
We’ll see if that changes if the SM resumes its decline today.
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