Monday, October 22, 2018

Who’s Kidding Who? Eric Sprott On The Weak US Dollar


“I have a view of markets, OK? It’s almost like, whatever the narrative is at the time, you know it’s likely to reverse. For example, I look at the Emerging Markets that got hammered, hammered, hammered. 

Next thing you know: Whoomp! Away they go, they turn around to the upside. It’s like this Invisible Hand comes into the market. 

So, you look at the gold market, and as you and I both know, we’re at the 50-day, and we’re thinking, ‘Oh my God, it’s going to break out of a down trend that it’s had for the last three or four months. 

It goes right to the line and bang! Right back down again. And viciously down.”

- Source, Sprott Money

Thursday, October 18, 2018

An Explosive Situation: Eric Sprott On The State Of US Politics


“Thank God there is truly a market. You know, ‘supply and demand’, and price and all that stuff. It does work for the consumer. Even though it may not work in stocks and bonds and things like that where the Fed can interject and have the Invisible Hand working. 

But when it comes to people and to budgets and their income… I just think the consumer has lots of things to be concerned about, with energy going up, interest rates going up. 

Of course, health care costs are always uncontrolled… I don’t have a lot of hope for the consumer, notwithstanding the stock market going up all the time and a certain segment of the population making hay here. But the average guy is not doing that well.”

- Source, Sprott Money

Sunday, October 14, 2018

Eric Sprott: Life Learned Lessons in Resources


Eric states that there is always the cost of production with commodity investments. If a company increases output by twenty percent, there is always that overhead cost. 

However, if the price of a commodity rises by twenty percent that could represent a doubling of profits. Therefore commodity price has a much more significant impact on profitability than merely increasing production. 

As an investor, you want to know what a company will earn so you can determine what your returns are likely to be. If you are too conservative, you may not even make the trade.

- Source, Palisade Radio

Wednesday, October 10, 2018

Prepare Now: This Is When Gold Will Begin its Climb


Eric agrees that the average gold investor likely feels rather depressed. However, behind the scenes, there is a lot of activity. Kirkland was up 150% last year, and Novo has good performance. He feels we are still in the beginnings of a bull market for several reasons. 

Real economic recovery is lacking as low-interest rates and money printing continues. The second half of 2018 should be better than the first.

- Source, Palisade Radio

Tuesday, September 25, 2018

Eric Sprott On The Metrics That Matter


“There’s no doubt between the sentiment being as poor as it is, the technicals being as oversold as they are, the short position being as high as it is… those are three of the primary ingredients in suggesting that you should be bottoming here. 

And needless to say, we’ve had a decent rally already. I don’t know exactly what the low was in gold, but it seems to me it was at least down to the 1170s somewhere. 

Today we’re at 1210. So we have a decent rally going on here. So, no, I think that the CoT setup is good. 

There’s still a lot of volatility in the gold price… when I see it going down quickly, like in two and three and four minutes at a time, I always think of the hedge funds trying to manipulate the price of gold.”

- Source, Sprott Money

Saturday, September 22, 2018

Everything Says We Should Be Bottoming


“I would think that the people in most countries today would be thinking about owning gold, with their currencies getting decimated on a regular basis. 

I mean, you look at the damage of currencies yesterday, and there were probably ten currencies that fell over 1% in the day. You know, currencies are supposed to be stable. They’re not supposed to be like stocks or something. 

But they’re truly very, very weak, whether it’s Iran or Venezuela or Turkey… There are so many reasons for people to want to get out of paper currencies and into something hard.”

- Source, Sprott Money

Wednesday, September 19, 2018

Sprott Takes Lead in $4 Million Aben Financing

Aben Resources Ltd. [ABN-TSXV; ABNAF-OTCQB; E2L2-FSE] said Wednesday August 15 that it is moving to raise $4 million via a private placement led by Bay Street gold bug Eric Sprott.

The company said the funds are being raised through a non-brokered private placement of up to 13.3 million units priced at 30 cents each. Each unit will consist of one common share and a warrant good to buy an additional share at 45 cents for two years from the dates that the units are issued.

The lead order is from Eric Sprott, who will subscribe for 6,666,667 million units, the company said. Additionally, Palisade Global Investments will subscribe for 2.75 million units and Venture Ad Network will subscribe for an additional 600,000 units.

Aben was active on the news, easing 3.85% or $0.015 to 37.5 cents in early afternoon trading on Wednesday. The 52-week range is 11 cents and 49.5 cents.

It will use proceeds of the private placement to expand its 2018 exploration and drilling program on the Forrest Kerr Gold Project in northwest British Columbia’s Golden Triangle region.

In a press release on August 9, 2018, the company said drilling has intersected multiple high-grade zones at Forrest Kerr.

Hole FK18-10, the first of eight holes to be drilled this year, has intersected four separate high-grade zones, with the best zone returning 38.7 g/t gold over 10 metres, including 62.4 g/t gold over 6.0 metres, starting at 114 metres down-hole.

The company is drilling in an area where it has discovered strong precious and base metal mineralization at the North Boundary Zone.

Aben CEO Jim Pettit recently said the high-grade gold and base metal values in the first hole of the 2018 drill hole program far exceeded the company’s expectations. He also said these results confirm the presence of a strong and robust mineralizing system at the recently discovered North Boundary Zone.

Forrest Kerr covers 23,000 hectares and is Aben’s flagship property. It is located in the Golden Triangle, a region that hosts many significant mineral deposits, including Brucejack, Eskay Creek, Snip, Galore Creek, Copper Canyon, Schaft Creek, Red Chris and others.

Aben Chairman Ron Netolitzky was involved in the discovery of the Eskay and Snip mines in the Golden Triangle and was named Canadian Prospector of the Year in 1990.

Aben can earn a 100% interest over the entire claim group by spending $3 million on exploration by June, 2020.

“We are now looking at an area that extends 230 metres south to the historic high-grade Noranda drill hole from 1991 and although the geology is complex, we believe more drilling will delineate additional high grade mineralization,” Pettit said.

- Source, Resource World

Saturday, September 15, 2018

Huntsville hospital celebrates $1M donation from Sprott Foundation

The Huntsville Hospital Foundation has announced the transformative gift of $1 million from the Sprott Foundation. This represents one of the largest gifts ever received by the hospital and will be invested in urgent care and advanced medicine to ensure continued outstanding health care in Huntsville and surrounding areas.

Community leaders and seasonal residents Eric and Vizma Sprott have long been known for their generous support of health care in Ottawa and Toronto. This gift will have an equally substantial impact on health care in Muskoka.

“Eric and I love being on the lake and being part of this wonderful community. It is our great pleasure to be able to make this donation to the Hospital,” said Vizma Sprott.

Like so many seasonal residents, the Sprotts, their children and grandchildren, have had to visit the hospital.

“We have had occasion to use the hospital and we’re grateful it is there, especially as we spend more time in this community. We wanted to know what we could do to help,” said Eric Sprott.

“The staff and physicians at the hospital were honoured and humbled that the Sprotts chose to make an investment into urgent equipment needs at Huntsville Hospital,” said Katherine Craine, executive director of the foundation. “This gift is a wonderful addition to the momentum we are experiencing, and the support we are seeing from both local and seasonal residents as well as local businesses that are getting behind the hospital and its capital needs. Our fundraising continues to grow and we are grateful for the support."

The Sprotts hope their gift will inspire others to give generously to the hospital. The hospital needs up to $3 million per year to buy new equipment and upgrade technology not funded by the government. The 2017-2018 annual report for the foundation will be available in the coming weeks.

- Source, Muskoka Region

Wednesday, September 12, 2018

Eric Sprott: Everything I See In The Physical Markets Is Very Optimistic

“I think of all these people who live in all these countries where their currencies are getting hammered, whether it’s the Brazilians, the Indians, the Turks, the Iranians. 

We’re getting more and more people all the time, all of whom have a disposition towards gold anyway. And I read this morning that the Asian demand is very robust. Well, you know what? I’d expect it to be robust. 

I mean, the Indians consume 1,000 tons a year out of roughly 3,000 tons mined. What happens if all of a sudden they’re witnessing their currency weakening? They buy 50% more. My God, the effect on the physical market would be astounding!”

- Source, Seeking Alpha

Friday, September 7, 2018

Eric Sprott: Don't Believe The Statistics

"There's no doubt between the sentiment being as poor as it is, the technicals being as oversold as they are, the short position being as high as it is… those are three of the primary ingredients in suggesting that you should be bottoming here. And needless to say, we've had a decent rally already. 

I don't know exactly what the low was in gold, but it seems to me it was at least down to the 1170s somewhere. Today we're at 1210. So we have a decent rally going on here. So, no, I think that the CoT setup is good. 

There's still a lot of volatility in the gold price… when I see it going down quickly, like in two and three and four minutes at a time, I always think of the hedge funds trying to manipulate the price of gold."

- Source, Seeking Alpha

Tuesday, September 4, 2018

Aben Resources Adds Eric Sprott as Strategic Shareholder

Aben Resources (TSXV: ABN; US-OTC: ABNAF) is expanding its exploration and drilling program this year at its Forrest Kerr gold project in B.C.’s Golden Triangle, with the help of a $2-million investment from financier Eric Sprott.

The financing follows assays released earlier this month from the first drill hole of the year, which returned four high-grade intervals within 190 metres downhole, including 62.4 grams gold over 6 metres within 38.7 grams gold over 10 metres from 114 metres downhole.

The highest-grade zone in hole 18-10 cut 331 grams gold per tonne over 1 metre from 118 metres downhole.

Sprott is subscribing for 2.75 million units at 30¢ apiece (each unit consists of one share and one warrant to buy another share at 45¢ per share within two years).

In addition to Sprott, Palisade Global Investments is subscribing for 2.75 million units and Venture Ad Network for 600,000 units.

“This new infusion of capital will now allow us to expand our 2018 program and stay in the field longer this year,” Jim Pettit, Aben’s president and CEO, tells The Northern Miner.

The 230 sq. km project is in northwestern B.C. and situated along the Forrest Kerr Fault, which consists of a 40 km long, north–south belt overlying rocks of the Hazelton and Stuhini Groups — a complex assemblage of volcanic accumulations, with intervening sedimentary sequences that host significant gold deposits in the Golden Triangle region.

Hole 18-10 was collared in the project’s North Boundary zone, where drilling late in the season last year found precious and base metal mineralization. The hole is 230 metres north of the historic high-grade drill hole Noranda drilled in 1991 that cut 326 grams gold over 0.5 metre.

“We are now looking at an area that extends 230 metres south to the historic, high-grade Noranda drill hole from 1991, and although the geology is complex, we believe more drilling will delineate additional high-grade mineralization,” Pettit says. “The target areas in and around the Boundary Zone are relatively shallow and continue to provide strong discovery potential, as we look to value-add the project using a systematic exploration methodology.”

The North Boundary zone — located near the centre of the property — is open in multiple directions, with numerous soil geochemical anomalies yet to be drill-tested. The zone displays continuity for gold, silver and copper mineralization and is open to the east, west, north and down-dip.

Last year, fieldwork and drilling in the North Boundary zone yielded intervals including 6.7 grams gold, 6.4 grams silver and 0.9% copper over 10 metres, including 18.9 grams gold, 16.6 grams silver and 2.2% copper over 3 metres in hole 17-4. Hole 17-5 cut 21.5 grams gold, 28.5 grams silver and 3.1% copper over 6 metres.

The Boundary Zone lies between the Forrest Kerr Fault to the west, a major deep-seated crustal feature, and the unconformable contact between the Jurassic Hazelton Group and the Triassic Stuhini Group to the east. The rock reflects a history of hydrothermal activity and brittle deformation.

“The Boundary Zone is shaping up to be much bigger than we had originally hoped, and with more drilling and fieldwork, we can begin to realize its true nature and size,” Pettit says. “The geology is complex, and more drilling will help our understanding. We are expanding the North Boundary Zone and this is just the beginning.”

Aben has agreements to earn a 100% interest in the total land package by June 2020, with $3-million in exploration.

Historic exploration on the property included 130 drill holes (20,000 metres), as well as 19,400 soil samples, 2,200 rock samples and 500 silt samples.

The junior has a strong management team. Before joining Aben in November 2002, Pettit was chairman and CEO of Bayfield Ventures, which was acquired by New Gold (TSX: NGD; NYSE-AM: NGD) in 2014.

The company’s chairman, Ronald Netolitzky, was inducted into the Canadian Mining Hall of Fame in 2015. Over more than 40 years in the industry, Netolitzky has been directly associated with three major gold discoveries in Canada that went into production: Eskay Creek, Snip and Brewery Creek.

Netolitzky describes Forrest Kerr’s multiple mineralized zones associated with mesothermal veining and next to major structural breaks as “very encouraging.”

At press time, Aben’s shares were trading at 37.5¢ within a 52-week range of 11¢ (December 2017) to 49.5¢ (September 2017).

The junior has 81.5 million common shares outstanding for a $30.6-million market capitalization.

- Source, Northernminer

Wednesday, August 29, 2018

Eric Sprott: Everything I See In The Physical Markets Is Very Optimistic



“I think of all these people who live in all these countries where their currencies are getting hammered, whether it’s the Brazilians, the Indians, the Turks, the Iranians. 

We’re getting more and more people all the time, all of whom have a disposition towards gold anyway. And I read this morning that the Asian demand is very robust. 

Well, you know what? I’d expect it to be robust. I mean, the Indians consume 1,000 tons a year out of roughly 3,000 tons mined. What happens if all of a sudden they’re witnessing their currency weakening? 

They buy 50% more. My God, the effect on the physical market would be astounding!”

- Source, Sprott Money