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if venus have clear proof of a confidentiality agreement,


that cannot be misconstrued, then them waiting for spectrum to find decent size resource is extremely shrewd

if they do not have a concise unequivocal agreement that pre-existed the whole thing is going to get very messy and costly for s/h's



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by breaking the overhead down-channel roof pricing would signal bids have won

by passing thru midline confidence of price moving to the lower channel line raises the sellside liquidity

both metals have symmetric channels typical of trend but the whipsaws will disguise the structure, nice volatility!!




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Investors should be cautious on gold

Sarah Turner


"Investors should be very cautious about investing in gold, says Simon Mawhinney , chief investment officer at Allan Gray.


âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Most of them are crappy companies with short reserve lives,âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ he said at the Morningstar conference today.


âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“There are risks with all resource companies but more so with gold.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ


The fund manager said that the time to invest in gold was 2013 to 2014 but noted that âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“gold is a hot commodity now and has its own momentum.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ


âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Thereâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s a fair degree of hype and the risks to investing in gold are very elevated. I would be very cautious.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ


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  • 2 weeks later...
Canadian based Kirkland Lake now trades on the Australian Securities Exchange via Chess depositary interests (CDIs). The value of Kirkland Lake's Australian securities has more than tripled in the past two years, outperforming the company's Toronto-listed securities.


The arbitrage between Kirkland Lake's Australian and Canadian securities appears to have been noticed by some investors, with its Australian CDI's becoming the most shorted stock on the ASX on October 22.


As recently as September 30, none of Kirkland Lake's local securities were sold short. But by October 22, more than 18 per cent of local shares effectively were betting on a fall in the value of Kirkland Lake's Australian securities.

..... the Fosterville deep gold mine outside Bendigo has been a game changer. Adjoining tenements are now up for sale.

... The exploration tenement previously known as EL3539 was taken out of Kirkland Lake's hands in February as part of a deal that absorbed portions of the tenement into the Fosterville mining lease. But the acreage is back on the market with a new name ; the tenement will be called Block 4 and will cover more land.


Given Kirkland Lake's extraordinary exploration success at Fosterville, Block 4 is expected to be the most hotly contested of four tenements put up for tender by the Victorian government this week.


Extremely high-grade gold discoveries deep underground in 2015 turned Fosterville, near Bendigo, into Australia's most lucrative pure-play gold mine, with rivals such as Newcrest's Cadia mine being more lucrative only because of their copper byproducts.

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From Chuck Butlers GCRU


I haven't touched on the massive amounts of derivatives in the markets these days in a while, and then I saw this from Ainslie Bullionâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¦ âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“the idea that derivatives are not a source of systemic risk because the open (netted) position may seem small is one of the great misconceptions about derivatives. Derivatives fund nothing, but serve to shift exposures from one party to another and work through margins (collateral), yet they carry all the bankruptcy characteristics of debt for the out-of-the-money party. A sudden move on volatility can shift the Gross Market Value quickly, and netting provides no protection for this. Netting is about settlement amounts using prices at the point of close out. Netting does not protect any financial firm from market risk.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ


In 2008, we were within an eyelash of a catastrophic moment in derivativesâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¦ Did we learn anything then? Noâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¦ The number of derivatives in the markets place today far exceeds where we were in 2008âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¦ I just donâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢t know how to explain this any further to you folks, other than to say that The debt has grown by so much that it seems impossible for it not to eventually trigger the kind of uncontrolled or âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‹Ã…“disorderlyâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ market event that sees the derivative âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‹Ã…“worst caseâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ issue playing out. And once again I askâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¦ Got Gold?



Agh History, its just that , History. Of course it has no bearing on today. Today is differrent this time.



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in the instance of actual systemic failure the correct question is :


got a bag of salt .....several bags of salt ?


if you have gold the only person buying from you is someone with a bag of.....lemme guess......gold ?

here i'll give you a bar of gold for one of your bars of gold, what for, what are we gunna do with it? .....ask the guy with the salt, he's in most demand




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yes ... though, just because

... we have a triumvirate of asset bubbles (stocks, real estate and bonds) that exist globally....
...there is no causal link that the asset class that dares not say its name will be the beneficiary.


Gold is Insurance.

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the yield curve has reverted (to normal-ish). 10's are above the 2's.

the local QE talk is just that. A shot or 2 across the bows.


Sure growth is sluggish, but there's a pullback from continuing non-conventional measures. and, sure, abnormal interest rate returns are helping riskier behaviour but that's the New normal. And/but Where is $inflation?

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