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china growth is priced in, so slow down will bring commodities down
europe lack of growth will only hurt
US muddle through economy isn't providing any bump to commodities
having said that, commodities aren't cheap themselves, but commodity stocks, generally appear well valued (unless the underlying commodities do fall...)
If anything there is a silver lining in all this, the price of gold should be moving up if the Fed steps in... and "hopefully" YNG can post a strong second quarter.. we shall see!
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Originally Posted by jasonturbo
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Anyone have the scoop on greek elections? How high % is them leaving the eurozone... Still think market will DUMP eod tomorrow if it doesn't I'll be scratching my head
Anyone have the scoop on greek elections? How high % is them leaving the eurozone... Still think market will DUMP eod tomorrow if it doesn't I'll be scratching my head
Ya, tomorrow should be a blood bath; quadruple witching + Greek elections on Sunday
"In Europe, authorities also laid plans for tackling turmoil such as if Greeks emptied their bank accounts should the SYRIZA party, which has promised to tear up the country's bailout deal with the EU and IMF, score a decisive victory on Sunday.
SYRIZA leader Alexis Tsipras said the memorandum deal with Greece's international lenders, which has helped to push the economy into a depression, would not last beyond the weekend."
Too close to call at last word between SYRIZA and ND; also ~15% undecided voters
^ I hear ya, but at the same time, I have to believe that regardless of the election results, there will be many more issues to fix in the Eurozone.. the unemployment rate is so insanely high in some regions that even with extensive easing they will not be able to get the socio-economic issues under control.
Though I do hope for some Euro drama so I can make a quick buck, the long term issues facing Europe are considerably more serious than any outcome as a result of the Greek election.
I really have my doubts about the Eurozone, the smaller less "efficient" economies are at a significant disadvantage being tied to the single currency, if these economies were able to manipulate the value of their currencies they would actually stand a chance. The Eurozone will never really work unless it becomes more than just a monetary union...
Holding on for now.. no point in selling at a loss when I just expect Euro news to continue putting downward pressure on markets. I think the help Europe needs is well beyond anything that a few hundred billion in stimulus can fix.
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Follow me on Instagram @jasonturtle if you want to feel better about your life
Regardless of what happens, i am for sure going to be moving some money into gold or gold producers very soon.
I bought out of money options on Barrick when it was $38 and sold when it went to $42. That was like the only decent coin I made in awhile.
I'm now waiting for an entry point to get back in, timing is such a bitch these days.
Quote:
Originally Posted by jasonturbo
Holding on for now.. no point in selling at a loss when I just expect Euro news to continue putting downward pressure on markets. I think the help Europe needs is well beyond anything that a few hundred billion in stimulus can fix.
Exit polls show it is neck and neck between Syriza and ND's..
Edit: Just thinking out loud.. is it possible that a win for the ND's will result in more civil unrest? With the strong anti bailout support (Likely 40% of the voting population) there could be some protests in the near future with regards to continued austerity.
I can't believe Samaras is already saying things like "This is a victory for all of Europe". Yes, Greece, you fucked up lol... Greece needs to do whats best for Greece IMO.. not what's best for Europe.
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Last edited by jasonturbo; 06-17-2012 at 12:12 PM.
But... I'm sure it's just a matter of time before the big dip comes, remember last year the major volatility was July to October... plus the long term average of the VIX is just 1% less than it's sitting at now... so I'm optimistic with pessimism!
Edit: On a totally unrelated sidenote:
"On June 3, 2012, Christopher Ecclestone said this:
“Yet, it is good to report that the situation has turned around at YNG, just, even if the market does not see it that way. For two weeks the facility has been running at full pelt with production at 450 ounces per day.”
Allied Nevada Gold Corporation had an Investor Day in Toronto a few days ago. According to a research report by RBC Capital Markets, this is what was said:
“ANV [Allied Nevada] continues to negotiate with several parties to place the sulphide concentrate at Hycroft and management reiterated their view that adequate processing capacity exists within the Western U.S. so an autoclave would not be required.”
This could be significant to you if you are a shareholder of Yukon-Nevada. Here is why. Allied Nevada was telling their investors that they were going to build an autoclave to process their sulphide concentrate (another way of processing it is through a roaster). Now, they are saying that they will not be building an autoclave because adequate processing capacity exists within the Western U.S. The only adequate processing capacity that they would be referring to that I can think of would be Yukon-Nevada’s roaster. The other players, such as Newmont and Barrick, are running at full capacity.
Could this possibly mean that Allied Nevada is about to acquire Yukon-Nevada? Allied Nevada has obviously been in discussions with Yukon-Nevada because they just struck a deal to process loaded carbon as indicated in the following press release:
I think there is a good chance of Allied Nevada wanting to acquire Yukon-Nevada, but not yet. Yukon-Nevada’s stock price is too low ($0.30 per share). At this point, Allied Nevada could get away with offering $0.45 per share for Yukon-Nevada, but large shareholders of Yukon-Nevada would probably not agree because they know that the company is worth much more. However, if Yukon-Nevada managed to get the stock price to around $0.60 per share, for instance, then Allied Nevada could offer $0.90 per share and get the 50 percent premium approved by their board of directors.
Now, the question is whether the company will be able to get the stock price higher. On June 3, 2012, Christopher Ecclestone said this:
“Yet, it is good to report that the situation has turned around at YNG, just, even if the market does not see it that way. For two weeks the facility has been running at full pelt with production at 450 ounces per day.”
Today, it is June 15, which means that if Yukon-Nevada continued this kind of production, it gives them four weeks of 450-ounce-per-day production or a run rate of more than 150,000 ounces of gold per year. About two years ago when the company announced a steady state of 150,000 ounces of gold, the stock price tripled within weeks. While it is unlikely that the same scenario would play out again because there are too many investors who abandoned the ship, I would not be surprised to see the stock price appreciate aggressively after the company announces the steady state. When this happens, the sale of the company at an acceptable price for both parties becomes feasible.
If you want to read my previous report on Yukon-Nevada, you can download it here.
Following up with what was posted yesterday, here are the glorious details lol... For those of us holding YNG this shold mark the beginning of the climb back up to a reasonable share price
Vancouver, BC -- June 18, 2012 -- Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) is pleased to announce that its wholly-owned Jerritt Canyon processing facility in Nevada has reached steady-state operation. After facing a series of challenges in reaching target gold production rates earlier this year following a planned shutdown in January, Jerritt Canyon has operated continuously over the last month processing an average of 4,112 tons per day. Jerritt Canyon is operated by Queenstake Resources USA Ltd., ("Queenstake") a wholly-owned subsidiary of Yukon-Nevada Gold Corp. ("YNG" or the "Company").
In the first half of June the plant has processed an average of 4,200 tons per day, 7% higher than planned production of 3,933 tons per day. In the past month including the first fifteen days of June, gold recoveries were over 12,000 ounces recovered to the CIL circuit, 11,218 ounces were shipped with the remainder still in plant inventory. At this level of production the Company is generating positive cash flow from operations as well as covering the maintenance capital required to continue to operate the facility effectively going forward.
A further increase in crushing circuit availability will be achieved by the replacement of an inadequately manufactured bucket elevator supplied and installed during the recent shutdown, which was the cause of serious downtime in the first four months of this year. Construction required to replace this component with two conventional belt conveyors is expected to be completed during the next four weeks. A backup mobile crushing and screening plant has been installed and tested in order to ensure continued plant performance during the replacement phase.
On April 25 the Company received an order allowing it to operate both roasters at 110 tons per hour per roaster, an increase of 22%. This was an important step in the operation ramping production up to 4,600 tons per day by the end of 2012 and 4,800 tons per day in Q1 2013. The Company will be pursuing further increases in the allowed operating rate as the year progresses and the emissions technology installed is shown to be effective.
Randy Reichert, Chief Operating Officer commented, "Our team at Jerritt Canyon has worked incredibly hard to bring the operation to commercial levels. We are now seeing the results of this effort and the operation is in excellent shape to meet our gold production target for 2012 of between 140,000 and 150,000 ounces."
This news release was reviewed and approved by the Company's Chief Operating Officer, Randy Reichert, M.Sc. P.Eng., the Qualified Person under NI 43-101 for purposes of this release.
Yukon-Nevada Gold Corp. is a North American gold producer in the business of discovering, developing and operating gold deposits. The Company holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Nevada in the United States. The Company's focus has been on the acquisition and development of late stage development and operating properties with gold as the primary target. Continued growth will occur by increasing or initiating production from the Company's existing properties.
On a side note, certainly not what anyone expected with the Greek election results, but US futures are down slightly this morning.
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Originally Posted by jasonturbo
Follow me on Instagram @jasonturtle if you want to feel better about your life
Spent the remainder of the cash doubling my YNG position. I am excited about the future for this company! I hold a bunch of NZ and TAO and love the companies themselves but with the price of oil taking such a bath, it's hard to find any optimism to even watch carefully...
Mark
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I'm in a tough spot Would like to buy more YNG but I've already maxed out my play money The only things I could sell is Aloca AA or TVIX... and I'm down.. a lot... in TVIX lol. Plus with selling either of those I have to eat the exchange rate!!!! FACK!!!
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Originally Posted by jasonturbo
Follow me on Instagram @jasonturtle if you want to feel better about your life
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Would like to buy more YNG but I've already maxed out my play money 
