Precious Metals Summit Beaver Creek Colorado 2019

Companies

Presentation Webcasts and PDFs

How to Ride the Gold & Silver Bull - Rick Rule - Brien Lundin - Peak Prosperity Chris Martenson

Discussion of drivers and tactics for the Precious Metals Bullmarket

Ray Dalio - The Three Big Issues and the 1930's Analogue

More from Dalio - HERE
The most important forces that now exist are: 
1) The End of the Long-Term Debt Cycle (When Central Banks Are No Longer Effective) 
+2) The Large Wealth Gap and Political Polarity 
+3) A Rising World Power Challenging an Existing World Power 
= The Bond Blow-Off, Rising Gold Prices, and the Late 1930s Analogue

Negative Yielding Bonds vs Gold

Sprott Chart HERE

The Problems of US Dollar Reserve Currency - Mark Carney at Jackson Hole. Dollar's Exorbitant Privilege Coming to an End - JP Morgan

One of the elite Central Bankers, and Goldman Alumni on the problems of US Dollar as Reserve Currency. 

The ultimate devaluation of Fiat Currencies should be against Gold.

BoE Carney Paper HERE

Discussions HERE and HERE

JP Morgan advising clients to prepare for Dollar devaluation by holding 5% in Gold.

5% Holding HERE

JPM on USD Exorbitant Privilege HERE

Ray Dalio - Paradigm Shifts and Gold

"Most people now believe the best “risky investments” will continue to be equity and equity-like investments, such as leveraged private equity, leveraged real estate, and venture capital, and this is especially true when central banks are reflating. As a result, the world is leveraged long, holding assets that have low real and nominal expected returns that are also providing historically low returns relative to cash returns (because of the enormous amount of money that has been pumped into the hands of investors by central banks and because of other economic forces that are making companies flush with cash). I think these are unlikely to be good real returning investments and that those that will most likely do best will be those that do well when the value of money is being depreciated and domestic and international conflicts are significant, such as gold. Additionally, for reasons I will explain in the near future, most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio. I will soon send out an explanation of why I believe that gold is an effective portfolio diversifier." 

https://www.linkedin.com/pulse/paradigm-shifts-ray-dalio/

Gold Breakout

Charlie Morris at Atlas Pulse - HERE


Correlations of gold price to real rates and matrix gold price against rates and inflation.

and gold vs investment flows

Gold as % if investable assets
"Gold ETF holdings used to represent 1% of US equity market cap in 2011, a number which has dropped to 0.3%. That is gold used to be equivalend weight as Exxon, a global giant, has now dropped to Starbucks. Gold doesn’t seem like a crowded trade to me."

AME Roundup 2019

Coreshack Companies

Abstracts

Gold Remonetisation - Basel III - Gold as Tier 1 Asset at 100% Valuation

I have seen little public commentary on the Basel III changes, but this seems to set the stage for serious flows into Physical Gold by financial institutions.

....under Basel III, monetary gold now qualifies as a Tier 1 asset, and is 100% valued for the purposes of banking viability. Another point to consider is that SIFIs are now required to quadruple their reserves when compared to the previous minimum requirements before the banking crisis. Essentially, monetary gold is now considered risk free. This significant development remains relatively unknown – for now......The Basel Committee on Banking Standards (BCBS) scrapped the old Basel II framework and put in place a plan that will be fully realized by all SIFIs by 2019.......February 2018 marked a major turning point for gold – monetary gold to be more specific – when the Swiss National Pension Fund switched out of synthetic gold derivatives into physical gold. Monetary gold is defined, in the new Basel III banking capital rules, as “physical gold held in their own vaults or in trust.” The Swiss decision complied with the new banking standards regarding capital adequacy as it relates to solvency and viability. All Systemically Important Financial Institutions (SIFI) must comply with the new rules for Net Stable Funding Ratio (NSF) and Liquidity by January 2019. Lessons learned from the last liquidity crisis, when Lehman Brothers nearly caused a global financial meltdown, forced a rethink in how assets held on an institution’s balance sheet are to be valued. Counter-party risk became extremely important again. In short, when trust between SIFIs fails, liquidity dries up as lending ceases due to solvency fears. The need for liquidity was a key change in the creation of the new standards, and it shone a spotlight on an asset that had largely been ignored for this purpose – physical gold.

Since the financial crisis government bonds have served to recapitalise the banks. As QE reduced interest rates the value of bonds increased.

If we have reached a point where interest rates increase, through distrust of government debt and bonds, this banking capital value will decrease.

Could banking flows into gold drive increased prices and  become an essential counter-weight to decreasing bond values, and capital, for the banks?

http://bmg-group.com/gold-re-monetization-is-closer-than-many-realize/

Gold Divergences and South African Gold Signals

At Acting Man

Secular Turn in Bonds and Interest Rates - Steve Saville

Widely debated but well put HERE

In Gold We Trust - 2018 Report

Available HERE

More interesting charts below.....

Pierre Lassonde - Canadian Mining Symposium 2018

Ross Beaty - at Canadian Mining Symposium 2018

US Targets Domestic Supply Boost for 35 Key Minerals - Executive Order 13817

Story here 
The Trump administration wants to identify new domestic sources of critical minerals; increase domestic exploration, mining and recycling; give miners and producers electronic access to better mapping and geological data; and streamline leasing and permitting for new mines

Details HERE

Covering
list of 35 critical minerals. The final list includes: Aluminum (bauxite), antimony, arsenic, barite, beryllium, bismuth, cesium, chromium, cobalt, fluorspar, gallium, germanium, graphite (natural), hafnium, helium, indium, lithium, magnesium, manganese, niobium, platinum group metals, potash, the rare earth elements group, rhenium, rubidium, scandium, strontium, tantalum, tellurium, tin, titanium, tungsten, uranium, vanadium, and zirconium

The Exodus from US Assets - Michael Howell on Real Vision

Interesting discussion of capital flows

Six Low Capex Gold Mines in Ontario

Canadian Mining Journal review HERE

Pure Gold,
Harte Gold,
Argonaut (not so low capex?),
Gowest Gold,
Treasury Metals,
Sage Gold 

Gold breaking out vs Bonds and Stocks - JC Perets

JC Perets - HERE

Add caption

Value in the Gold Miners - Record Low Price/Cashflow

As at the Gold Tent blog

Lowest Price/Cashflow
Gold Miners offering historic value buying opportunity

Gold Based Crypto

Long list emerging HERE

Including the Sprott Backed Tradewind

"Gold-focused money manager Sprott owns approximately 20 percent of TradeWind and plans to use the platform as a dealer, but said it’s too soon to say whether it will migrate its physical gold trust onto the platform. Chief Executive Officer Peter Grosskopf called the digitization of gold trading “the most important thing to happen to the gold market in the last several decades.”

“Gold has always been criticized as being an inefficient product, a lazy product, a product that’s hard to transact with,” Grosskopf said in a phone interview. “It’s almost as though the blockchain were invented for gold. The marriage of the two, I think it’s going to be incredibly powerful.”

Grosskopf said he sees a day where gold is used as a form of digital cash, supplanting cryptocurrencies and opening up a “completely new user base.”

“It’s a market that’s many hundred times as large as cryptocurrency markets and once it’s fast and it’s secure, why would anyone use crypto?” Grosskopf said. “Every year since the 1970s gold has lost market share to financial assets and I think this gives it a chance to come back against those financial assets.”

Rambus on the Hui

Hui has broken to the downside from the consolidation triangle so decline to 120

HERE

Which Stocks are Scams or Scores - Brent Cook - Marin Katusa - Frank Curzio

Aurion, Novo, Garibaldi, Equinox, Almadex, Almaden, Pretium, Tristar, Northern Dynasty, First Mining Finance, Gold Mining Inc, EMX Royalties

Jordan Roy Byrne - New Low in Gold Stocks Strong Buy Signal

Very similar view to Gann Financial for a new low springboard for gold stocks
HERE

Jeff Kern - Ski Gold - Bearish Gold Stocks Near Term

Similarities to Gann view - drop first then rebound

HERE

Eric Muschinski - Gold Investment Letter - Bullish for Gold Breakout

The Abstract Art of Resource Estimation - Joe Mazumdar - Exploration Insights

Article HERE 
as highlighted at IKN

Gann - James Flanagan - Gold Precedents

Discussion of triple digit increase precedents for gold miners
Drop first then strong rise?

Peter Brandt on Gold

Article
"My bias is that Gold will rip through resistance to commence a new bull trend"

Fred Hickey on the Opportunity in Gold Miners

"So, we have this huge disconnect between the price of gold and the margins of the miners -- which are doing very well because they had to keep their costs low -- and the price of the stocks. Now, ultimately, that will get corrected. We saw the huge run in 2015, where gold went up 30% in the beginning of 2016 and the miners went up 180%. And we saw that in 2000, when gold went up quite a bit, and the miners went up 1600%. That’s 17 times the average. We saw that in the 1970s coming out of the bear market there. We saw that on the big net buyers went up at least 10 times, and some of them went up as much as 30 times. So, this happens regularly when the miners get depressed. They get out of whack with the price of gold and margins, and then they slingshot higher. And that’s what I think we’re about to see.

We’re right there. I think there’s going to be enormous amounts of money entering this sector once again, just as we saw in early 2000s, just like we did coming out of 2015, the bottom, just as we did coming out of the 1970s mid-cycle correction. So, I’m pretty excited about it."

Article / Podcast

Gold Fireworks on the Horizon - Felder

Jesse Felder Report

Interesting juncture comparing to the 1996-2002 period current H&S bottom

Ross Beaty on Gold Price Opportunity & Building Equinox Gold

On the Gold Price Opportunity .....

The End of Easy Money - Davos Debate - Ray Dalio & Central Bankers

Interesting - Feels like Dalio has thought this through the most

AME Roundup 2018

2018 Exploration Geologist Conference

Exhibiting Companies

Coreshack Companies

Coreshack Abstracts / Project Summaries

Rambus Chartology of the Canadian Venture Exchange $CDNX

Good review of the breakout in the Canadian Venture   HERE

Peter Brandt on Gold 2018

"I believe there is a good chance that the precious metals will be an outstanding asset class in 2018 – Gold could outperform Bitcoin in the year ahead."

https://www.peterlbrandt.com/2018-gold-outlook/

Mining Wisdom au Pierre Lassonde

Interesting 

50 Most Valuable Mines

Report Here

Jordan Roy-Byrne on Favouring the Junior Miners

Jordan reviews his focus on the juniors during the progression of a precious metals bull market, (for those convinced the turn in 2016 was the final transition to a bull market).

From the fundamentals, so often repeated by Brent Cook, of falling discovery rates and majors looking to replace depleted high grade reserves, to the investment cycles, leverage and added value of discovery and development.

I would add to this the interesting developments in the GDXJ Gold juniors ETF.
Investors are keen to get exposure to the juniors but the ETF is unable to deploy all the funds without reorganisation and is looking to move more investment in larger companies.
Will some of those investors wanting exposure to the juniors invest more directly into key junior companies? In a bull market as valuations and liquidity increase this should become more feasible.

Cryptocurrencies

I hadn't realised there are now 800-900 Cryptocurrencies.

The entire marketcap for the sector has more than tripled in a year, standing at a total $30bn, adding $10bn in just the last couple of months. 

$20bn of the total market cap is Bitcoin, with only 4 others over $500m.

"Altcoins", I presume non Bitcoin, have quadrupled to $10bn in just the last 2 months.

CoinMarket appears to list and track 800
Cryptocompare lists almost 900

Current promotions by the usual letters.

Traders trading

A number of doubles, triples and 10 baggers in the last 7 days trading!

Fortunes made and lost in the speculative tides.

Caveat Emptor

Hotel California

Sharpest Plunge in Credit since the Financial Crisis (while Stocks Soar)

Ambrose Evans Pritchard at the Telegraph

While stock markets soar there are conflicting signals from credit markets.
Either the stock market is seeing the other side of this, and a huge pent up lending boom for the banks after Trump cuts taxes, or the credit markets are flashing the real signals.