Month: December 2020

Gold hits 2-week high as investors eye fresh U.S. fiscal support  CNBC

Gold Price Forecast – Gold Markets Continue to Look Very Healthy  FX Empire

History is full of intriguing sayings coming down to us from other cultures that inform our thinking and behavior.

“Managing a large state is like cooking a small fish.” – Lao Tzu.

“A stitch in time saves nine.” – A 1700’s sewing reference.

“Healing is a matter of time; sometimes a matter of opportunity.” – Hippocrates.

One I especially like tracks back to Julius Caesar after ending his governance of the Roman province of Gaul and being ordered to disband his army. Under no circumstances was he to come closer with it than a small stream outside of Rome.

Yet Ceasar decided to cross the Rubicon and march on the capital, knowing there was no turning back and his likely fate if the venture failed. He supposedly told his men “The die has been cast!”

I have followed the ups and downs of a certain white metal since reading Harry Browne’s books in the 1970’s on life, living… and silver.

Somehow surviving the 1980 Hunt Brothers’ debacle after the run to $50 and subsequent collapse below $5 over the next 22 years, I happened into a local coin shop in 2000 and spied a printed copy of Jim Puplava’s “The Perfect Storm: Rogue Wave” about a financial tempest that would generate a massively destructively wave coming seemingly out of nowhere, carrying gold and silver to huge gains.

It motivated me to get back in the game.

For almost as long, I’ve been reading Ted Butler’s missives about how “someday” silver would break the chains of suppression, market indifference, and compelling supply/demand metrics and make a massive historic move to the upside never to be undone or repeated.

I’ve worked for a long time with “The Silver Guru” David Morgan, learning a lot from him about markets in general and silver in particular as I toured mines, wrote reports for The Morgan Report and presented at North American conferences.

And we have both been exponents of LODE, a project constructing a digital (silver and gold-backed) money of the future, enabled by the blockchain.

For several decades, both David and Mexico’s Hugo Salinas Price (via the latter’s proposed silver Libertad coin) have sought some way of returning silver to the world for wealth preservation and “honest money” for everyone – roles that for millennia it has faithfully served.

Recently, I’ve come to the conclusion that we’re getting awfully close to the day – after all these years – when the price of silver is about to Cross its Rubicon.

Why am I so optimistic about silver right now?

Ted’s most recent interview about the change in J.P. Morgan’s status from the biggest short on the COMEX to perhaps its largest long…

…seeing silver being mined at just a 9:1 ratio to gold as mill head grades dropped 60% in the last decade…

…understanding that the entire gold and silver sector is less than 1/3 the market cap of Apple stock…

…watching the effects of unprecedented financial mismanagement worldwide exacerbated by COVID; and seeing a flood of money from investors large and small pour into both metals, whether prices rise OR fall… the list is almost endless.

Something (other than a price rise) happened recently to Bitcoin. It’s been estimated that the electronic “mining” of new Bitcoin results in the addition of about 900 coins per day.

As you’ve heard, “the program” dictates that there can never be more than 21 million bitcoins – several million of which have already been lost.

Along with the explosive popularity of blockchain applications in general, it’s estimated that Square and PayPal alone have acquired the equivalent of all BTC mined this year.

Once the Rubicon is crossed, there is no turning back.

When I bought some Bitcoin a few years ago at $235 apiece and watched it drop to $180 soon thereafter, I didn’t think it would rise 90x.

Yes, Bitcoin could have and might yet “drop to zero” like some naysayers still claim. Even if it had, I would not have lost too much because of the incredibly skewed risk-reward nature of the bet… something that wager has in common with silver.

Unlike Bitcoin, silver has been the trusted money of last resort across cultures for thousands of years. And it has not, nor will it ever likely go to zero!

In my studied opinion, the case for a price explosion to the upside has never been more compelling, nor dare I say, felt more imminent. Whether it launches very soon, or sometime in 2021, its day of reckoning is relentlessly bearing down.

“The Die is Cast” for Silver…

The pressure building under silver is like the tremors that shook Mt. St. Helens before the pyroclastic explosion which tore out the side of the mountain and buried several states under white ash. Even today the surrounding landscape has not “returned to normal.”

I can remember palladium trading at $180. Once it “impossibly” rose above $1,100, it from there tripled and never looked back. Rhodium went from $600 to $14,000. Amazon traded in 1997 at $20 and hit $3,500 this year. And Bitcoin is not likely going back to $200 anytime soon.

Silver Bullets:

• Following David Morgan’s dictum of investing “small money to attempt big returns,” silver today is still a wildly asymmetric trade.
• Holding some physical (and maybe a few well-selected mining stocks) serves as insurance, inflation-protection, a liquidity vehicle, and a savings habit.
• Like the “lost Bitcoin” mentioned above, and unlike the gold supply, most industrial-bound silver is never recycled, thereby permanently dropping out of the supply equation each year.
• Some 75% of available silver is now lodged in ETFs. What happens to the price if a company or hedge fund launches a drive to stockpile the rest, analogous to what took place regarding Bitcoin with Square and PayPal?
• Ted Butler concludes that “when silver goes off, it will be like an atom bomb on a hydrogen bomb on a neutron bomb… I don’t think there will be anything like it again in my lifetime.”

Are you willing to take the other side of this bet by passing on the opportunity to acquire some “hold in your hand silver”?

When it “crosses the Rubicon” there will be no turning back. It will be a one-time historic event. The price and supply terrain will fundamentally transform for a long time to come. Because when that day arrives, the die will have been cast. There will be no Second Chance.

On which side of the stream will you be standing?

Source: Peter Krauth for Streetwise Reports   12/07/2020

Peter Krauth explains why he believes silver is heading into a massive bull market.

It’s getting harder with every passing day to find cheap assets.

Stocks, bonds, real estate, they’re all pretty pricey. And yet, no one seems to care.

Instead, the masses, and asset managers, appear determined to keep pushing them higher.

In recent days, the S&P 500, the Dow 30 and the Nasdaq all set new records. And yet, it’s not difficult to imagine that, at least over the next 6–12 months, these indices could easily all head higher.

It’s a classic melt up scenario. We have all the right ingredients in place. Even more big stimulus is likely on the way before long. Unemployment and home prices are stubbornly high, while real interest rates remain firmly negative.

But through all of this precious metals, and silver in particular, look irresistibly cheap.

Silver’s Macro Environment

I have to say, I can hardly blame investors for pushing asset prices higher.

After all the two feds, the Federal Reserve and the federal government, are a determined bunch. It’s easy to see why.

Some important relief programs expired this past summer, including a $600 top up for unemployment benefits and a loan program for small businesses. The $1,200 stimulus checks are feeling like a distant memory. And other temporary aid will end this year.

Meanwhile, small businesses are struggling. According to Opportunity Insights, there are 29% fewer open small businesses than in January, and less than at any time since the month of May.

And unemployment is persistently high, particularly for those in the lower-wage categories. November saw just 245,000 jobs added to the U.S. economy, versus the 610,000 in October. Since the start of the pandemic, the U.S. has lost nearly 10 million jobs.

Right now, Congress is working on a bipartisan program that could include an extension to unemployment benefits, and a possible second loan to small businesses stemming from the Paycheck Protection Program. So with the prospects for a lot more helicopter money ahead, Janet Yellen as the next Treasury Secretary must be dusting off her pilot’s license.

In the meantime, asset prices continue to soar as negative real rates abound. The S&P/Case-Shiller U.S. National Home Price Index is 70% higher than it was in 2012. And real interest rates have been below 0% most of the time since late 2007. I expect that these trends to remain entrenched and even continue as we move forward.

Bullish Metrics

In my view, as far as investment assets go, silver still remains amongst the most undervalued. But that’s unlikely to last. Let’s look at it from a few perspectives.

When compared to gold, the silver price has a lot of catching up to do.

Notice that in both 1980 and 2011 silver’s percentage gains were markedly higher than gold’s, easily outpacing the yellow metal. And if you peer over to the right end of the chart, we can see that silver still has clearly a lot of catching up to do.

On an inflation-adjusted basis, silver also looks dirt cheap.

Note that when it topped in 2011, even when accounting for the low-balled consumer CPI, silver never even achieved half its adjusted 1980 peak. And right now at $24, it’s only one-fifth of those levels.

More recently, silver peaked at $29 in August, and has been on a four-month correction since.

The price has mainly held above $23 after testing that level three times. The 50-day moving average has been flattening out, and silver has just popped back above that level. At the same time, both the RSI and MACD have been trending higher since silver’s first test of $23 in late September.

Looking at silver stocks, the overall picture is similar, if slightly less convincing.

SIL has dipped lower to test its mid-July breakout at $40. And here too the RSI is trending higher, but the MACD put in a slightly lower low in late November. Meanwhile, the 50-day average has also flattened out and SIL is now challenging that level with room for momentum to push higher.

What to Do Next?

At this juncture, silver is looking pretty bullish. We could see it chop back and forth for another week, maybe two. But with the next Fed meeting on December 14–15, I think the setup is looking increasingly positive.

If you don’t own any silver, now looks like a great time to layer in, buying in regular intervals over the next weeks or month.

If you already own some silver or silver stocks, but feel like you need more, the same applies. Start buying, but split your allocation into a few tranches. That will help smooth out your purchase cost.

Just consider, of all the assets out there, silver looks amongst the cheapest by several metrics. And that helps mitigate risk, while diversifying your portfolio.

Caution: silver is heading into a massive bull market. Large gains, coupled with volatility, lie ahead.

–Peter Krauth

Peter Krauth is a former portfolio adviser and a 20-year veteran of the resource market, with special expertise in energy, metals and mining stocks. He has been editor of a widely circulated resource newsletter, and contributed numerous articles to Kitco.com, BNN Bloomberg and the Financial Post. Krauth holds a Master of Business Administration from McGill University and is headquartered in resource-rich Canada.

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Disclosure:
1) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation. The author was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Source: Michael Ballanger for Streetwise Reports   12/07/2020

Sector expert Michael Ballanger maintains the “golden bull is back,” and in this missive he outlines the reasons why.

As this is being penned, I am seated in my den just after 7 a.m. looking out into the pitch darkness of an early December morn and the only light is a reflection off the cool waters of the lovely swamp Lake Scugog emanating from the bustling metropolis known as Port Perry. I can hear the distant rumbling of cars and trucks all along the causeway on their way to destinations that have surely changed from what and where they were one year ago.

With warranted affection, it gives me great hope in watching my fellow small-town citizens carrying on with pre-Christmas traditions, decorating the eaves with festive lights and animated front-lawn symbols that go back centuries. The will to survive and spit in the eye of the current public health crisis (which is rapidly morphing into a civil obedience crisis) gives me time to reflect upon the events of the past year. In case you haven’t noticed, in the blink of an eye, 2020 will soon be gone, and to this I say, “Good riddance!”

Furthering that sentiment, I normally take the first week of December to conduct a self-audit of the year in review, largely because by this time there is not a great deal one can do to enhance one’s portfolio performance. You have either had a good year or you have had a bad year, and with markets winding down into mid-month, volumes and volatility are going to be significantly reduced and trading opportunities disappearing up the proverbial chimney.

This year I am faced with a dichotomy of emotion caused by the two opposing human emotions of pride and guilt. On the one hand, I see fear and suffering everywhere around me and it bothers me, not because of the impact of the virus but more by the cacophony of messages being delivered to the masses by the fear-mongering media and vote-searching political masters. On the other hand, I see financial media and their money-managing conspirators popping corks and taking victory laps as the Dow Jones moves through 30,000, with its morbid intent being to convince everyone that “this too shall pass,” and that “the stock market is sending us a positive message.”

Sadly, as a former member of the financial industry and as a person that makes his living in the financial arena, I should be happy looking at the P&L (profit and loss statement) of my portfolio performance in 2020. It has been the best year that I have had since 2010, having ridden the precious metals for most of that decade. Alas and instead, the pride one deserves for a job well done is replaced with the pall of guilt, because being a gold and silver advocate and being rewarded for years of patience is in some way a disparaging comment on the current plight of the average citizen. There is not a day that goes by where someone or something in the mainstream media doesn’t lob a ten-pound cannonball across the bow of the HMS Gold and Silver, suggesting either Bitcoin or Tesla as having been “a better place to be.”

Needless to say, on Aug 6 of this year, the gold and silver legionnaires were all taking well-earned victory laps, as gold and silver were absolutely crushing it, outperforming the blue chips and the tech sector by a wide margin. In fact, of particular annoyance and, in fact, dire concern to the Wall Street mavens was that the blazing performance of the gold and silver stocks were converting tech buyers into gold and silver buyers, and since Wall Street can’t charge fees when a gold or silver buyer makes a purchase, that cash disappears from the banking system forever. That, my friends, is where the most nefarious mission of 2020 was carried out with such skill and aplomb that books will certainly be written about it. I call it “Mission Recapture.”

The chart from the beginning of 2020 until Aug. 6 is a gold bug’s most erotic dream. It has the precious metals perched deservedly on the magnificent throne of “top performers,” impishly thumbing their noses at those “stupid stockroaches” and “Bitcoin buffoons.” Then, some time after it was revealed that infamous gold-hater Warren Buffett had bought US$500 million worth of Barrick Gold Corp. (ABX:TSX; GOLD:NYSE), the bow-taking, nose-rubbing gold bugs found themselves under a sudden and very stealthy siege.

While most of us have been calling the period from Aug. 6 to Nov. 30 a “correction,” I would add a word to that and rather refer to it as an “orchestrated correction,” and one fully financed by the U.S. Treasury through its “Working Group on Capital Markets.”

With global growth in full retreat and the CAPE (cyclically adjusted price/earnings) ratio higher than any other time in history, the Wall Street intelligentsia used taxpayer credit lines to goose the NASDAQ to nosebleed levels and a move the S&P within 4% of gold. With some nineteen trading sessions left in calendar 2020, the banco-politico cartel should be lighting up those Cohibas in full celebration of a “job well done” and the sign “Mission Accomplished” should be hanging off every Wall Street lamppost. The execution of “Mission Recapture” has been one for the ages; its blatancy matched only by its boldness; its criminality matched only by its deceit.

With 2020 on its last decrepit legs, it will surely be marked in history as the year in which the U.S. Fed and the U.S. Treasury merged into one entity, neither one independent, both serial counterfeiters. No longer is there any need for the Fed chairperson to pronounce any intention of resisting political pressure from either a sitting president or any member of the legislative bodies. The Year of Our Lord 2020 was the year that a third mandate was added, giving further substance to the reason that the Creature from Jekyll Island came into being.

On top of “maximum full employment” and “price stability,” the third mandate is now “stock market uptrend integrity.” I hear that a fourth mandate is under review and falls under the category of “bubble maintenance,” because while they have been doing it since the 1987 Crash, it has never been made official.

I have been cautious on the senior and junior gold miners for most of the second half of 2020 and only turned bullish last weekend, as November was grinding to a close, marking the worst monthly performance for gold since 2017. However, I elected to move to an “overweight” position in that tiny jurisdiction within the precious metals equity realm characterized as “developer/explorer.”

There are a number of reasons for making this move but my primary incentive was safety. But wait a minute, you say, as you list the following reasons that they are not safe, such as illiquidity, volatility, small (or no) resource base (ounces), no production, and no discovery (yet).

I would counter back that it is for those reasons that the large professional investors, which includes the hedge and mutual funds, avoided these names back in the summer when they were blindly inhaling anything that had in its name either “gold” or “silver.” The Eldorados (ELD:TSX; EGO:NYSE) and Yamanas (YRI:TSX; AUY:NYSE; YAU:LSE) were bid up into the clouds by confused and desperate money mavens that were freaked out by the pandemic, but more by the monetary and fiscal insanity vaguely meant to represent “relief,” when all it really turned out to be was yet another Wall Street taxpayer gift.

These huge investment pools, for the first time ever, found themselves long a bunch of brand-new but relatively miniscule (compared to technology or the FANGS) companies, but instead of outperforming their peers with these money-printing hedges, they looked at their performances at the end of September and found that all those NASDAQ stocks they sold in the summer were screaming higher (thank you, Jerome Powell) while the precious metals positions (that we supposed to be no-brainers) were suddenly down 20%.

So, since these leviathan loot lifters were never shown the Getchell Golds (GTCH:CSE) or Norseman Silvers (NOC:TSX.V) of the world, when November turned into a precious metals rout, the senior and junior gold stocks got smoked in varying degrees of regurgitant revenge. Overboard they went, looks of anger and disgust permeating boardrooms around Wall and Bay Streets.

Happily, or more appropriately, less sadly, the junior developers and explorers dominate the TSX Venture Exchange, and while the TSX.V has more technology and cryptocurrency issues than twenty years ago, the index is strongly correlated to commodities, with the two major ones being gold and silver. This next chart proves my point, and rationalizes how owning the quality developer/explorers was actually a move to safety as opposed to increasing risk. The TSX Venture Exchange outperformed the HUI by a threefold margin and the TSX by 2.5 times (which is huge if you are a money manager).

I designed the GGMA 2020 Portfolio in late 2019, long before the pandemic arrived, and the two core positions were Getchell Gold Corp. and Aftermath Silver Ltd. (AAG:TSX.V). Other names include Norseman Silver Ltd. (up 500% year to date [YTD]), Megastar Development Corp. (MDV:TSX.V; MSTXF:OTC; M5QN:FSE) (up 107% YTD) and Goldcliff Resource Corp. (GCN:TSX.V; GCFFF:OTCBB) (unchanged YTD). (To be fully transparent, I do have one clanger uranium stock, down 37%, as well.) Call it “luck” or call it “tactical brilliance,” but however one cuts it, hiding out in the micro-cap developer/explorer names has worked well in the second half of 2020.

But what has me excited is that the really fun part of the precious metals cycle is just about to begin.

Every secular bull market in gold and silver has in its DNA multiple corrections along the way to Mania Land. 2020 saw the distant shorelines of Mania Land in the summer, when the generalist fund managers came pouring over the walls and into the precious metals. It wasn’t pretty in July, when the DSI soared north of 90, but as frothy as some people thought it got, it was modest compared to the 2002–2011 bull. But it was absolutely nothing—a minor, almost imperceptible blip on the mania radar screen—compared to the late 1970s, which saw astronomical rates of return and equal measure of madness and greed. In fact, it was the precious metals bull from the Jimmy Carter years that served as the embryonic gestation period for the term “Never confuse bull markets with brains!”

The next chart is a perfect graphic for demonstrating how the developer/explorers have performed.

You know, sometimes I find myself caught in a nostalgia trap and find it nearly impossible to conceal the excitement that was forged into my subconscious mind over forty years ago. I also constantly imagine all of the sniggering millennials and Gen Xers rolling their eyes at that “old guy tellin’ war stories from a hundred years ago.” When Nixon abandoned the gold standard in 1971, he put an immediate stop to the practice of foreign treasuries (like France) taking gold in place of dollars every time a T-bond reached its maturity date. What followed was a nine-year bull market but one with a major correction right in the middle. A move from $35 to over $850 per ounce in the decade left an indelible impression on my investment psyche, so when you hear someone compare this period of time to the “Stagflation Seventies,” you better find out whether they were in the capital markets back then. The year 2020 has similarities to the 1971 event, but in terms of magnitude, there is zero comparison. The money printed from late 2019 (Fed REPO actions/COVID relief) until now has been many orders of magnitude—as in twenty geometric progressions—greater than at any other time in history. You can take the costs of WWI and WWII, and add the two Gulf Wars, and it is still a drop in the bucket when you consider that the greatest helicopter drop is just ahead of us in 2021.

This serial debasement of the U.S. greenback has left little doubt as to its reserve currency status looking beyond next year. The Zimbabwe-esque behavior of the stewards of the American currency has rendered it undeserving of the title “safe haven” asset.

Already in 2020, and in the middle of a severe economic slowdown with nonexistent money velocity to spur demand-pull inflation, an Acapulco cliff dive in purchasing power is forcing the U.S. dollar-denominated price of copper to its highest price since 2013. Interestingly, the first-time copper traded through US$3.50/lb. was in 2006, but that was all demand-pull because China had decided to build out their entire country, which required historic amounts of cement, timber and copper. There is no such excuse in 2020, other than the rejection of U.S. dollars as suitable mediums of exchange.

To all of those new generation thinkers and investors out there, I will gladly apologize for the repetitiveness of the “stories,” but I will not apologize for the repetitiveness of the “message.” We are entering into a period of time to be earmarked in future history books as “The Great Inflation,” the era in which those in control decided to vaporize the purchasing power of fiat currency the world over. Just as it happened in ancient Rome, and 1921–23 Germany, and 1990s Zimbabwe, and Venezuela and Turkey in 2020, citizens having faith in paper money whose worth is determined by “fiat” (“a formal authorization or proposition; a decree”) are about to find savings and retirement pools and inheritances vaporized by the self-interested actions of the banco-politico elite. They needed an excuse to set the dominos tumbling, and they got it in the form a global pandemic, and it matters not from whence COVID-19 came, it was the crisis they needed, and they most certainly did not let it go to waste.

So, as the year 2020 drifts out to sea, be it known that the most important phase of the precious metals bull market lies ahead of us. But this time, I think that it won’t be a generational debate pitting Telsa against Toyota, or Bitcoin versus gold. As this orchestrated demolition of the global currency system gathers momentum, all citizens, regardless of race, sex, color or age, will come to a sudden realization that owning physical gold and silver is as necessary as house or medical insurance, and rightfully a place in the hierarchy of needs.

I will have the 2021 Forecast Issue ready by New Year’s Day, but I am sure you all have the message. The golden bull is back.

Follow Michael Ballanger on Twitter @MiningJunkie.

Originally trained during the inflationary 1970s, Michael Ballanger is a graduate of Saint Louis University where he earned a Bachelor of Science in finance and a Bachelor of Art in marketing before completing post-graduate work at the Wharton School of Finance. With more than 30 years of experience as a junior mining and exploration specialist, as well as a solid background in corporate finance, Ballanger’s adherence to the concept of “Hard Assets” allows him to focus the practice on selecting opportunities in the global resource sector with emphasis on the precious metals exploration and development sector. Ballanger takes great pleasure in visiting mineral properties around the globe in the never-ending hunt for early-stage opportunities.

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Disclosure:
1) Michael J. Ballanger: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: Getchell Gold, Megastar Development, Norseman Silver, Aftermath Silver and Goldcliff Resources. My company has a financial relationship with the following companies referred to in this article: Getchell Gold, Megastar Development, Norseman Silver, Aftermath Silver and Goldcliff Resources. I determined which companies would be included in this article based on my research and understanding of the sector. Additional disclosures are below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Goldcliff Resources. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Getchell Gold. Please click here for more information.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Aftermath Silver, Getchell Gold, Norsemen Silver, Megastar Development and Goldcliff Resources, companies mentioned in this article.

Michael Ballanger Disclaimer: This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.

( Companies Mentioned: AAG:TSX.V,
GTCH:CSE,
GCN:TSX.V; GCFFF:OTCBB,
MDV:TSX.V; MSTXF:OTC; M5QN:FSE,
NOC:TSX.V,
)

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