Hulbert Gold Newsletter Sentient Index Plunges
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday August 25th
Gold was given a swift $31 dollar haircut as soon as the Comex paper gold session started at 8:20 NY Time on Monday morning. This was after gold popped $10 after the a.m. London gold fix followed by a move higher that took the December contract up to $1,970 right before the Comex opened. December gold settled the day session at $1,932. Silver didn't fare any better, as silver longs were scalped for close to a buck down to $26.42 on the September contract before bouncing to settle around $26.65. The Mining Stock Journal said that the action in gold will be dictated by the expiration of September gold options this Wednesday as well as the fact that first notice day is Friday. Longs who do not plan to stand for delivery roll out to the December contract and this process makes it easier for the Comex price manipulation team to
push the price lower, as witnessed Monday. The newsletter also noted that there's a huge chunk of call options open at $1900, which means the Comex banks will make every effort to ensure that gold closes below $1900 on Wednesday. The newsletter noted that the Hulbert Gold Newsletter Sentiment Index plunged to the low 30's on Friday, indicating that a lot of the over-exuberance that engulfed the sector for most of the summer is deflating. Ultimately this is bullish.
We’ll get to the news out of the miners and explorers here in just a quick moment, but first a quick mention of today’s sponsor.
This episode of Mining Stock Daily is brought to you by… Integra Resources.
Integra Resources trades on the TSX-V under ITR and the NYSE American with ITRG. Integra Resource is advancing its past producing DeLamar Gold-Silver project in SW Idaho through aggressive drilling and exploration. The latest Resources Estimate released earlier this summer showed approximately 4 million Gold equivalent ounces in the measured and indicated category.The maiden PEA for the project established a net present value of C$473-million and an IRR of 43%. The management of Integra successfully sold its previous brownfields project for C$590 million in summer 2017. Read more about the company and its successful management team at integraresources.com.
And here’s what you need to know this morning…
Palladium One reported the first diamond drill hole results testing the Murtolamp zone, located 2.5 kilometers north of the Kaukua Deposit at the open pit Läntinen Koillismaa project in Finland. Hole 12 intersected 1.43 g/t palladium equivalent over 87.2 meters and 1.66 g/t palladium equivalent over 35.8 meters. The company says this shows both Murtolampi and Kaukua South have the potential to significantly add to the existing NI 43-101 open pit resource at Kaukua. The current drill program will continue to test both the Murtolampi and the Kaukua South IP chargeability anomalies discovered earlier this year. Palladium One trades on the TSX Venture with PDM and on the OTC with NKORF. News Release
Cartier Resources says they have cut an interval of 20.4 g/t gold over 2 meters intersected 200 meters below the resources of Zones 5B4-5M4-5NE of the Chimo Mine property. Other results this morning included 3.1 g/t gold over 14.6 meters. The estimated true thickness of the mineralized intersections represents approximately 80 to 90% of the measured length. The resources in this area will soon be estimated and added to the resources already published for the project. Cartier trades on the TSX Venture with ECR and on the OTC with ECRFF. News Release
Tethyan Resources reported assay results from 11 diamond drill holes today. One hole returned 35.3 metres at 4.2 % zinc, 46.7 g/t silver, 2.2 % lead and 0.4 g/t gold (8.5 % zinc equivalent). According to the company, this extends mineralization outside of the historic data. In addition the results identify broad mineralised halos to high grade structures that were not recognised in historic data due to selective sampling, better suited to an open pit target. Mineralisation remains open in all directions. Tethyan Resources trades on the TSX Venture with TETH. News Release
Rockcliff Metals announced Hudbay has exercised its Buy-Back Right to acquire an additional 2% ownership interest in the Talbot Project, from the Company, pursuant to the Company's option agreement with Hudbay dated April 14, 2014. Hudbay now owns 51% of the Project and Rockcliff owns 49%. Hudbay will now become the Operator of the Project. Rockcliff trades on the CSE with RCLF. News Release
Aurelius Minerals announced it has commenced the initial 10,000 metre ("m") drill program at the Aureus Gold Project, located in Nova Scotia. The Phase One program is focussed on the extension of known mineralization at depth, along strike and aiming to confirm the presence of multiple saddle systems. The will program is consist of approximately 6,000m of underground drilling at the Aureus East project ("Aureus East") and, once final approvals are received, continue concurrently with approximately 4,000m of surface drilling at the Aureus West project. Aurelius Minerals trades on the TSX Venture with AUL and on the OTC markets with AURQF. News Release
Galway Metals says it has optioned 5 claim groups consisting of 79 claim units at the Clarence Stream Gold Project in SW New Brunswick. The claims are part of Oak Bay and Lily Hill. Previous drilling at Oak Bay intersected 5.2 g/t gold over 2.5 meters. Hilw 3.7 g/t gold over 3 meters were intersected at Lily Hill. Terms of the deal are for Galway to pay the vendor an aggregate of $500,000, divided in seven equal installments of $71 and a half thousand dollars.
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I’m Trevor Hall. Have a wonderful day. Be well.
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