Month: November 2020

Gold Price Forecast – Gold Markets Continue to Attract Support  FX Empire

Slide 1: Introduction

The premise of my organization, the Gold Anti-Trust Action Committee, is what the assistant undersecretary of state for economic and business affairs, Thomas O. Enders, told Secretary of State Henry Kissinger in a meeting at the State Department on April 25, 1974 – a meeting whose discussion was transcribed and now is posted at the internet site of the State Department’s historian.

Slide 2: State Department historian

That is, the gold price is a primary determinant of all currency values and whoever controls the gold price can control not just all currency values but, implicitly, control the value of all capital, labor, goods, and services in the world. Back in 1974 the countries that were about to form the European Union had amassed, collectively, more gold than the United States had.

So it became U.S. policy to push gold out of the world financial system in order to protect the dollar’s role as the world reserve currency. Western gold price suppression policy, extensively documented at GATA’s internet site, arose from this realization and objective.

This is not “conspiracy theory,” though the policy usually was concocted and implemented in secret – that is, by a conspiracy, which is only how government often operates. No, this is history. As the saying goes, “you can look it up,” though the people in power would prefer that you didn’t.

So gold is the secret knowledge of the financial universe. That is why nothing financial can be analyzed without regard to gold and to what governments and central banks are doing in regard to gold.

This year has produced many major changes in the gold and silver markets that indicate increasing demand for real metal and tightness in supply. Some of us think these changes foreshadow the implosion of the longstanding fractional-reserve, derivatives-based gold and silver banking system – a system that has diverted most demand for the monetary metals away from the metals themselves and into derivatives.

While the supply of real metal is finite, the supply of derivatives is infinite, and credible estimates are that there are dozens of derivative claims to every ounce of actual gold and silver. That is, most of the gold and silver the world thinks it owns doesn’t exist. There is a huge and uncoverable short position in the monetary metals. Physical demand threatens to destroy this short position. Therein lies the opportunity in investing in the monetary metals and the companies that mine them.

The risk is that, as author and geo-political analyst Jim Rickards said on CNBC in September 2009: “When you own gold you’re fighting every central bank in the world.”

So in the context of this background let’s review the major changes in the gold and silver markets this year.

Slide 3: NYMEX / COMEX headquarters

The gold and silver futures markets of the New York Commodities Exchange, the Comex, have been transformed from almost entirely paper or derivatives markets into largely physical markets with huge offtakes of metal. Meanwhile the London gold and silver markets are having trouble delivering metal. GATA’s friend the London metals trader Andrew Maguire says it is impossible to get timely delivery of gold and silver in London and that as a result “spot” prices there are misleading, not capable of bringing forth metal in anything less than weeks.

Slide 4: CME Group gold bars list

A few weeks ago the Comex quietly implemented a vast expansion of the eligible mints of gold bars acceptable for gold futures contract delivery. Some of the mints on the Comex’s expanded list are no longer operating. This implies shortage of supply.

Volatility in the gold and silver futures markets has increased dramatically, but the frequent smashdowns in these markets are losing effect. In recent years they could knock prices down for weeks or even months at a time. Now prices usually bounce back in two or three days. The biggest smashdown of all came last week but prices are on their way back up again. Someone seems to be using the smashes in the futures markets to obtain real metal.

Slide 5: Scotiabank fines

Scotiabank recently paid fines of $127 million to settle gold and silver futures market rigging charges by the U.S. government. Scotiabank also is closing its gold and silver division, the oldest continuously operated bullion bank in the world.

Slide 6: Fines against JPMorganChase

JPMorganChase recently paid fines of $920 million for rigging the gold, silver, and Treasury futures markets. Both JPMorganChase and Scotiabank have entered deferred prosecution agreements with the government, indicating that the banks are expected to cooperate with the government in additional prosecutions.

Slide 7: Deutschebank trader convictions

A few weeks ago two former traders for Deutsche Bank were convicted for manipulating the gold and silver futures markets.

The futures market rigging done by Scotiabank, JPMorganChase, and the Deutsche Bank traders, called “spoofing” – the strategic placing and withdrawal of buy and sell orders calculated to mislead other traders – is not the rigging GATA long has complained about. The market rigging GATA long has complained about is done through largely surreptitious intervention by governments and central banks.

But the spoofing convictions are important because they show how easy it has been for big traders to rig the futures markets. It went on for years without discovery by the U.S. Commodity Futures Trading Commission, even when the commission purported to be looking for it. If futures market rigging is that easy for big traders, imagine how much easier it is for governments and central banks.

Slide 8: CME Group’s Central Bank Incentive Program

Indeed, CME Group, operator of the New York Commodities Exchange, has a special discount program for governments and central banks surreptitiously trading all major futures contracts in the United States.

Anyone trading commodities in the United States is probably trading against any number of governments and central banks, whose pockets are far deeper than those of ordinary traders.

Slide 9: GLD metal held at Bank of England

GATA’s friend the gold researcher Ronan Manly of Bullion Star in Singapore reported a few weeks ago that the exchange-traded fund GLD appears to be storing increasing amounts of its gold at the Bank of England, even though the fund’s prospectus requires the fund’s metal to be immediately transferred to the vaults of the fund’s own custodian, HSBC. This prolonged storage at the Bank of England suggests that GLD is increasingly using borrowed central bank gold to balance its accounts.

Slide 10: BIS statement of account

In recent months intervention in the gold market by the Bank for International Settlements, monitored by GATA’s consultant Robert Lambourne, has reached its highest level in the last two years and possibly the highest level in the bank’s history. The BIS functions as an agent or broker for its member central banks in purchasing, lending, and swapping gold among its members and commercial banks so the metal may be applied to gold markets that are under stress. In doing so the BIS provides camouflage for the interventions of its member central banks so they do not have to transact as directly with bullion banks and run more risk of being exposed publicly.

Slide 11: BIS PowerPoint presentation

Indeed, GATA has obtained and posted at our internet site BIS documents showing that the bank considers its major purpose to be to help its member central banks control the gold price and the value of other currencies. The BIS refuses to explain the purposes and objectives of its trading in gold, nor for whom this trading is done.

A few years ago GATA put that question to the BIS. Its press office quickly replied that the bank never answers such questions. Fortunately for the bank, mainstream financial news organizations and market analysts never ask it, since asking might be bad for business.

Slide 12: University of Sussex report

In May this year a study by researchers at the University of Sussex Business School in Britain concluded that the gold futures market is indeed heavily manipulated, seemingly contrary to regulations, but regulators are overlooking it.

Slide 13: U.S. Rep. Mooney’s letter to CFTC

In the last year the U.S. Commodity Futures Trading Commission repeatedly has refused to answer a crucial question put to it by GATA and U.S. Rep. Alex X. Mooney, Republican of West Virginia. This is the question: Is futures market manipulation undertaken by a broker or agent for the U.S. government, or by someone acting with the approval of the U.S. government, subject to the commission’s jurisdiction, or is such manipulation legal under the Gold Reserve Act of 1934 or other federal laws?

Since the CFTC refuses to answer that question even for a member of Congress, you may fairly assume that the commission considers futures market rigging by the U.S. government to be perfectly legal. That certainly would help explain the commission’s strange reluctance to act against gold and silver futures market rigging over the years.

Slide 14: U.S. Treasury Department’s ESF page

Discovering this U.S. government policy was GATA’s first great success. It came in 2001 in U.S. District Court in Boston when our consultant and litigator, Reginald Howe, extracted from an assistant U.S. attorney a claim that the Gold Reserve Act of 1934, which establishes the Exchange Stabilization Fund in the Treasury Department, does indeed empower the U.S. government to rig the gold market exactly as Howe’s lawsuit complained. If you will visit the Exchange Stabilization Fund’s page at the Treasury Department’s internet site, you may see that the Treasury Department indeed seems to construe the Gold Reserve Act to authorize it to manipulate not just the gold market but any market anywhere.

When GATA got started in 1999 nearly all respectable market observers insisted that the gold market was not being manipulated by governments or anyone else. Today most respectable market observers acknowledge that most markets ARE being manipulated by governments, but they don’t want to talk about gold. This is a bit of an improvement, since at least it seems that few observers today are willing to DENY that the gold market is being manipulated by governments.

In the last few weeks there have been many reports that after a decade of increasing their gold reserves, central banks have become net sellers of the monetary metal, if only in a small way.

Slide 15: Secret IMF staff report

But these reports were based on mere estimates offered by the World Gold Council, which long has been determined not to look too deeply into what central banks do with gold. For example, the World Gold Council has never taken note of the March 1999 secret staff report of the International Monetary Fund, which acknowledged that central banks refuse to distinguish the gold in their vaults from the gold they have swapped or leased with other central banks or bullion banks.

That is, the reports of central banks often overcount their gold.

Candor in gold reserve reporting, the secret IMF staff report said, cannot be allowed because it would reveal and compromise the surreptitious interventions by central banks in the gold and currency markets. The secret IMF staff report remains a warning to all market observers that central bank gold data cannot be trusted.

While the World Gold Council was claiming last month that central banks are now net sellers of gold, London metals trader Andrew Maguire was reporting that China has begun bypassing the London gold market and is acquiring unrefined gold directly from mines in Africa and South America and doing the refining itself.

Of course it is a matter of record that China is not always candid about its acquisition of gold. Not long ago China went five years without updating its gold reserve reports, and then reported five years’ worth of acquisitions in a lump sum.

If Maguire is correct about China’s acquisition of unrefined gold directly from mines, central banks are likely still net buyers of gold, not net sellers.

Because there is no serious journalism about gold, what the world is told about the gold market is almost always only what central banks want the world to be told.

It would not be difficult for financial journalists and gold market analysts to confirm or discredit Maguire’s assertion about China’s acquisition of unrefined gold. Journalists and market analysts could inquire with central bankers, gold traders, gold mining companies, and customs agencies. While few such sources might go on the record, some might comment confidentially. But even publicizing the question would be too subversive for most journalists and market analysts.

Of course monetary metals investors most want to know when gold and silver will break free of this manipulation at last – break free of the longstanding Western government policy of driving the monetary metals out of the world financial system, the policy that is extensively documented at GATA’s internet site.

We at GATA tend to expect that there will be another international currency revaluation in the near future. Something like that likely will be announced on a Sunday night before the Asian markets open. Of course governments are not going to share such plans with us in advance. But the day of deliverance for the monetary metals and their investors could be hastened if mainstream financial news organizations and market analysts reclaimed their integrity and began committing some journalism about central banking and gold.

All they have to do is what they never have done – put a few critical questions to central banks and regulatory agencies and report the refusals to answer.

Of course monetary metals mining companies could help by pressing those questions too. But most mining companies are too scared – too scared even to stand up for their investors. Mining is the most capital-intensive business in the world, and most mining companies cannot operate without support from the largest banks, which typically are intimate agents of governments, and few governments want gold and silver remonetizing themselves and competing with government currencies.

Mining is also the business most directly vulnerable to government regulation – for mining permits, environmental standards, and royalty payments. It is a rare mining company that is willing to embarrass its government with critical questions.

Central banking’s power to create and dispense infinite money is of course a spectacular power. But this power can’t succeed on its own. To succeed this power usually requires secrecy and deception. For if investors are NOT deceived, the power of central banking’s infinite money vaporizes. People won’t buy gold and silver derivatives if they realize that those products are designed to cheat them.

That’s why central banking’s most crucial power right now is its power to intimidate financial news organizations, market analysts, and mining companies out of their duty. That’s why GATA struggles to gain a forum. It is also why GATA is especially grateful to this conference for granting us this forum and grateful to you for attending.

Source: Maurice Jackson for Streetwise Reports   11/11/2020

In conversation with Maurice Jackson of Proven and Probable, Michael Rowley, the CEO of Group Ten Metals, outlines the latest developments at the company’s flagship project.

Image Taken from Stillwater West

Maurice Jackson: Joining us for a conversation is Michael Rowley, the CEO of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE).

Mr. Rowley, glad to speak with you, sir, to get us up to date on the latest, exciting developments on the high-grade, polymetallic Stillwater West project located in Montana.

Before we begin, Mr. Rowley, please introduce us to Group Ten Metals and the opportunity before us.

Michael Rowley: Group Ten Metals is a growth-stage exploration company. We are pre-resource and we are about to debut three resources at our flagship Stillwater West project.

In total, we have three district-scale assets. Two of these are PGE-nickel-copper. One of them is high-grade gold and the two of them, one of the PGE [platinum group element] projects and the gold project, are effectively for sale, at this point, to focus on the Stillwater Project, which is what we’ll focus on today.

The Stillwater West Project is a remarkable opportunity. We got it in 2017 and quickly advanced it based on the database. We drilled it in 2019 and we just completed additional drilling a matter of weeks ago, and those results are pending. The potential that we see there, and our focus, is on proving up what we see as a Platreef potential.

We’re completing a process that started in the 1970s, when previous work in the Stillwater District and the Stillwater Igneous Complex was dedicated for platinum, when America needed catalytic converters. They took parallels from the Bushveld District of South Africa, which is the source of most of the world’s platinum, and they found the J-M reef deposit, which is actually in the exact same place in the stratigraphic layers at Stillwater, as it is at Bushveld in the parallel system.

Now, what’s interesting is that the Bushveld went ahead with the development of these massive nickel-copper-sulfide-PGE mines in the lower portion of the Bushveld Complex in the 1990s. That was never continued in Montana, even though the parallels were fairly well known and were even talked about in technical papers. So, in a sense, we’re just completing that example. We’re just completing that process and bringing that thinking back to Stillwater West from a known comparable system in South Africa.

Maurice Jackson: Group Ten Metals has been working very meticulously on the Stillwater West, as the company continues to demonstrate its proof of concept. The results to date, as with each press release, have been nothing short of exceptional, and what appears, as you referenced, to be the next major Platreef discovery.

Mr. Rowley, Group Ten has just announced the completion of mapping and sampling yielding what has been a recurring theme, more high-grade results on platinum and palladium. Also, your latest release discussed a very large induced polarization survey conducted on the property. Take us to the Stillwater West and provide us with some context on what these early results from your 2020 program may indicate.

Michael Rowley: Group Ten had a fantastic year on the ground at the Stillwater West. We began early in the year with some studies based on drill core at the shack. We moved out in the field in April and May. You’ve got those results already from the earlier stage targets that we identified in the soil survey we did last year—some very high-grade results in those early areas.

We then moved to bigger programs at the most advanced target areas, and that’s key to our strategy. We have a lot of targets, so we’re focused on converting known mineralization at those three most advanced target areas to our first formal resources of the project, and then on expanding that drill to find mineralization into these untested adjacent highs that you can see in our figures. So we’re looking for both grade and scale here, and that’s been the priority in our work, and we’re blessed in terms of our database that we’re starting on second, or even third base, in terms of getting there.

In this year’s program—our biggest yet—we drilled five holes, totaling more than 1,800 meters, in the Chrome Mountain target area. That’s in addition to drilling that we did at Camp and HGR, the other two most advanced target areas last year. In all three cases, we’re driving the exploration models and expanding known mineralization. We now have more than 31,000 meters of drill data, and we’re on track to debut our maiden resources early next year.

I’ll just maybe throw in a little bit about that Platreef-style target because, as mentioned, it’s the Mogalakwena and Ivanhoe Platreef model from South Africa. So these are big, disseminated sulfide systems—nickel and copper sulfides—tens and hundreds of meters thick and kilometers long and rich in PGEs and also gold.

We also see cobalt in a system at Stillwater, which is something they don’t have in the Bushveld.

Maurice Jackson: Michael, the global demand for clean air is on the rise, with an obvious explosion in demand for electric vehicles, battery storage, fuel cells and so much more, that the US government has been prompted to add a number of your commodities on the critical metals list. In other words, these are mineral commodities that are vital to the nation’s security and economic prosperity. The Stillwater West is a polymetallic and a potential source of several of these battery-grade metals, such as nickel, copper and cobalt. What can you share with us?

Michael Rowley: The Stillwater West is fundamentally a nickel-and-copper sulfide system. That is the Platreef model. It’s enriched in PGEs and cobalt and gold as well. Specific to nickel, battery-grade nickel is nickel sulfide, so we have what Tesla and the other EV [electric vehicle] companies are looking for.

There are very few projects with potential for grade and scale in the world in this regard. There are not many magmatic systems out there of any size. Group Ten shares one of the largest and best geological formations in the world, the Stillwater Igneous Complex, with the major producer, our neighbor, Sibanye Gold Ltd. (SBGL:NYSE). They operate three mines right beside us, and they have a smelter refinery complex in the district. Their mines are the highest grade of the type in the world, whopping 80 million ounces of palladium and platinum, and more than half an ounce per tonne grade. So there’s a lot of metal in this system and that has to speak well for our chances as we get into that lower portion of the system.

In addition to nickel, the U.S. has listed PGEs, such as palladium, platinum and rhodium, as critical, and also cobalt. That’s to secure domestic supplies and reduce dependency on Africa and Russia and other countries for supply. So we’re not only in some of the very best rocks in the world for these target commodities. We happen to also be in a U.S. district that is a producing mining district, and that has to be beneficial for Group Ten.

Maurice Jackson: You somewhat alluded to it, but you also have the infrastructure that is paramount to the success of this story as well.

Michael Rowley: Absolutely. Our neighbor is mining just a few hundred meters north of one of our target areas.

Maurice Jackson: Michael, to date, each press release has been a complete success in my view. Tell us more about the results to date on the other precious metals that make up the portfolio, beginning with gold and then rhodium. What have you discovered on the Stillwater West?

Michael Rowley: Gold is a good one to discuss, because we have it broadly in that Platreef-style basket across the 25-kilometer span of the project. So, by co-product, I mean it’s at co-product levels. Our value split at Stillwater is probably a third nickel, a third palladium, and then a third the other, and gold is in that other basket.

But we do have one area of high-grade gold at Stillwater, which is running more than 8 grams per tonne. It’s a nice grade. It’s drilled in the 1980s, drilled in the 2000s. We’ve block-modeled it there. It’s not a resource that we can advance immediately this year. We are working on it, and I think we’ll bring that to the table in the future. It is open for expansion, and our work with the soils, in particular, showed high-grade gold in soils two kilometers to the west of the drill-defined high-grade gold at the Pine target. So there’s some very good expansion potential there.

We also identified similar levels of gold 9 kilometers away in the magmatic layers of the HDR target. So we’ve got a new model, a new understanding of gold mineralization at Stillwater here that’s very exciting, and takes it away from what was thought to previously being contained to a shear zone. We’re looking forward to reporting more on that. We did some good work on that this year.

Rhodium is very strategic, as there is essentially no mine supply in North America to speak of—it’s very little. Earlier this year we announced, I think we talked about it in one of our interviews previously, we show good rhodium co-product values across some size, and that would be immensely strategic in North America. Rhodium, I think you just said it, is $14,000 per ounce today. It’s back up; it’s high. And, like palladium, that’s due to persistent supply deficits year after year.

Maurice Jackson: What kind of grams are we looking at from the previous press releases? Was it about 6-7 grams per tonne, somewhere in that range?

Michael Rowley: We chipped a rock that was nearly 6 grams per tonne rhodium, which is the highest I’ve seen, and that certainly speaks to the potential for grade. The highest grade rhodium mine in the world is less than half a gram per tonne, so it’s rarely at those high levels. That’s the UG2 Reef in the Bushveld, South Africa. The great majority of other rhodium producers are running at 0.1 grams, even sometimes 0.2 grams per tonne, and that’s the range that we’re seeing in those results reported in drill core.

Maurice Jackson: Now I would be remiss if I didn’t ask this two-part question. When can shareholders expect the maiden resource to be published? And where do you think it will put you in relation to your peers?

Michael Rowley: We have block models developing on five target areas. Those are presented very nicely in our materials. The focus is on the most advanced three, and those are the Discovery Camp and HGR areas. They’ve got the most drilling, and it’s holding together really nicely in terms of continuity and grade. We’re going to incorporate this year’s drill results and then do our best to get them out quickly. So we’re looking, I think, at an early 2021 release date, and we’re looking forward to providing more details on that.

In terms of our peers, it’s hard to find a direct fit and, of course, we do not have published numbers to talk about yet. But in broad terms, if you look at our current peers, we have the PGEs that, say, a Generation Mining Ltd. (GENM:TSX; GENMF:OTCQB; 9GN:FSE) has, but we also have nickel that they don’t have. I guess another point that separates us is that we own our asset 100%, and they have a 51% interest to date. Another peer might be Canada Nickel (CNIKF:OTCMKTS), but again, it’s not a direct comparison, as they have limited PGEs so far.

If you could just blend those two in terms of geology, then you’re getting somewhere closer to the Platreef model that we’re looking at, which is Ivanhoe Mines Ltd.’s (IVN:TSX; IVPAF:OTCQX) Platreef Line in South Africa.

Maurice Jackson: Leaving Montana and moving onto Ontario, Group Ten has a portfolio of projects, any of which could be a flagship for an explorer. With gold resuming an upward trajectory, update us on the Black Lake-Drayton Project in Ontario, Canada, sir.

Michael Rowley: Very interesting things happening in the district out there. Treasury Metals Inc. (TML:TSX: TSRMF:OTCQB) has done a fantastic job of consolidating the rest of the district. They’ve purchased effectively the Goldlund deposit so they now have, between their Goliath and Goldlund now consolidated, they have over 3 million ounces and a permit to build a mill. That’s one of the largest undeveloped gold projects in Canada and North America. It’s very attractive. That’s right beside a highway, power, all that good stuff.

We share the district with them. We have the remaining one-third of the district. We have all the same geology, 127 holes in the database. We’re getting a lot of interest in this asset now from some very good parties. I think that reflects the move in gold that you mentioned, and also a quickly accelerating M&A environment. So I’m optimistic to see what we can do in that regard.

Our objective here would just be to get some value for it. We’re not getting anything, I think, on our balance sheet at present for it, yet it’s a really good project. We’d be glad to have a very good share position in the gold space, for example, and let somebody else advance it so we can focus on Montana.

Maurice Jackson: Should that come to fruition that would be great for organic growth and no more shareholder dilution without any financing down the road.

Michael Rowley: Absolutely!

Maurice Jackson: Switching gears, sir, please provide us with an update on the current capital structure for Group Ten Metals.

Michael Rowley: We have about 145 million shares out at present. Our prices just moved up nicely the past few days. We’re about a $50 million market cap, I think. I haven’t calculated it recently.

A key point is that we have $4 million in the treasury and we have $11 million in the money warrants. So we are presently funded through everything we need to do this year and potentially even next year if you assume those warrants come in.

We do have some key news events on the horizon that are going to drive price, and that would be drill results, which we expect to start receiving shortly. That will be ongoing over the next couple of months. The final results from that IP survey, which was fantastic, I think people can look forward to some updated promotional materials with lovely pink images from that survey and, of course, the resources, ultimately, in the new year at some point, and those would be major catalysts. I don’t think we’ll have to do a placement before then.

We are in some very good discussions with some big players in the industry. If, on the right terms, we see the right opportunity to bring a strategic partner in, we will do that. But so far, we see a lot of value we can add here as well before we look at further placements.

Maurice Jackson: Last question, sir. What did I forget to ask?

Michael Rowley: We should probably touch quickly on the Yukon, the Kluane Project, as our neighbor Nickel Creek Platinum (NCP:TSE) has a new CEO. That deposit, formerly known as the Wellgreen Deposit, now the Nickel Shaw Deposit, they seem to be putting some attention to again.

It’s a great district. This is one of the largest undeveloped nickel-copper-PGE deposits in the world. The whole Kluane Belt is good and we, of course, are the largest landholder in that belt. We currently have some interest in one project of the four that we own in that group, and I think we’ll see that accelerate in the coming weeks and months.

Maurice Jackson: Mr. Rowley, if someone listening today wants to get more information on Group Ten Metals, please share the website address.

Michael Rowley: www.grouptenmetals.com

Maurice Jackson: Mr. Rowley, it’s always a pleasure to speak with you, sir. Wishing you and Group Ten Metals the absolute best.

Before you make your next bullion purchase make sure you contact me. I’m a licensed representative to buy and sell physical precious metals through Miles Franklin Precious Metals Investments where we offer a number of options to expand your precious metals portfolio from physical delivery of gold, silver, platinum, palladium and rhodium directly to your home or office, to offshore depositories and precious metal IRAs. Call me directly at (855) 505-1900 or email maurice@milesfranklin.com. Finally, please subscribe to Proven and Probable, where we provide mining insights and bullion sales. Subscription is free.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Group Ten Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Group Ten Metals is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
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( Companies Mentioned: PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE,
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This summer, Peter Schiff and Jim Rickards discussed the possibility of $15,000 gold. In a recent interview. economist Rafi Farber took this line of thinking to the next level, arguing the dollar price of gold could eventually hit infinity – meaning simply that the value of the dollar will go to zero. During the interview […]

American retirees are buried in debt. Between 1999 and 2019, the total debt burden for Americans over age 70 increased by 543% and totaled $1.1 trillion according to data compiled by the Federal Reserve Bank of New York. Debt grew by 471% over the same period for those in their 60s and totaled $2.14 trillion […]

For many Americans, prolonged periods of time without gainful employment, income, or social interaction are not only impossible but… by Mitch Nemeth via Mises During the early onset of covid-19 […]

Pfizer says that an effective coronavirus vaccine is coming. Does this imply the end of gold’s bull market? by Arkadiusz Sieron of Sunshine Profits Pfizer says that an effective coronavirus […]

On the surface, it looks like frolicking outside in the dirt all day and then sitting down to a delicious scratch-cooked, home-raised meal in the evening… by Joanna Miller via […]

It’s been a tough year for the COMEX silver market, where there’s been constant pressure on supply & deliveries, and now there’s one bank that’s… Andrew Maguire with Chris Marcus […]