Fortuna reports production of 1.3 million ounces of silver and 7099 ounces of gold for the second quarter of 2020 GlobeNewswire
Author: Gold News Club
AbraPlata Resources: Optionality in a Rising Silver Price Environment
Ticker: ABRA.V (Venture), ABBRF (OTC)
52-week high-low: C$0.04-C$0.21/share
Shares Outstanding: 318m (Basic), 509m (F/D)
Chris Marchese
Wed, 07/15/2020 – 14:20
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Fortuna Reports Q2 Production Numbers
Fortuna Reports Q2 Production Numbers
While Fortuna was hit quite hard due to the CV19 mandated shutdowns in Mexico [Its flagship San Jose mine was suspended for 54 days of the quarter], the company managed to produce a total of 1.274m oz. Ag and 7.1k oz. Au vs. 2.157m oz. Ag and 13.2k oz. Au in the comparable period in 2019. Further, lower grades at San Jose put more downward pressure on output; silver and gold grades of 220 g/t Ag and 1.42 g/t Au vs. 273 g/t Ag and 1.68 g/t Au in Q2 2019 at San Jose.
Chris Marchese
Wed, 07/15/2020 – 13:42
Michael Pento: I Like Silver, But I Like Gold More
There were a few analysts who warned back in 2008 that the Federal Reserve’s policies would lead to the situation that we are now in. Where the Fed is forced to continue printing money, and in reality does not have an exit plan.
Michael Pento of Pento Portfolio Strategies was one of those analysts and in today’s video, he talks about what’s going on in the markets now, how we ended up here, and what he thinks about gold and silver as a solution.
Chris Marcus
Wed, 07/15/2020 – 09:16
Silver Price Daily Forecast – Silver Tests Yearly Highs FX Empire
Silver Price Forecast – Silver Markets Struggle to Reach Major Level FX Empire
Silver Price Daily Forecast – Silver Tries To Stay Above $19.00 FX Empire
Reuters/Lindsay Dunsmuir and Howard Schneider/7-14-2020
“One by one, Fed policymakers have become more downbeat in recent days, resetting expectations on the recovery ahead and cautioning that recent improvement in economic data such as job gains may be fleeting. ‘The pandemic remains the key driver of the economy’s course. A thick fog of uncertainty still surrounds us, and downside risks predominate,’ Fed Governor Lael Brainard said in a speech to a virtual event hosted by the National Association for Business Economics.”
USAGOLD note: Looks like the Fed is crossing out the “V” and replacing it with a “U” – at best. By now, most of us hoped we would be in for some clear sailing rather than a thick fog. Lael Brainward is the Fed governor seated at the far right in the photo.
Seeking Alpha/Steve Saville/7-14-2020
“We are expecting a modest recovery in economic confidence and a big increase in inflation expectations over the next 12 months, meaning that we are expecting the fundamental backdrop to shift in silver’s favor. As a result, we are intermediate-term bullish on silver relative to gold. We don’t have a specific target in mind, but, as mentioned in the 16th March Weekly Update when the gold/silver ratio was 105 and in upside blow-off mode, it isn’t a stretch to forecast that at some point over the next three years, the gold/silver ratio will trade in the 60s.” [More at the link.]
USAGOLD note: With gold at $1800, silver would need to trade at $26 to achieve a ratio in the 60s as Saville forecasts – so it still has considerable catching up to do. A number of top analysts have come out in favor of silver ownership over the past few weeks pointing to its undervaluation vis a vis gold and inflation expectations as the primary ownership incentives. The favored vehicle for silver ownership among USAGOLD clientele is one-ounce silver bullion coins like the ones pictured above.
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