Today I ate with Eric Sprott

Discussion in 'General Precious Metals Discussion' started by Dusty, Sep 9, 2017.

  1. JOHNLGALT

    JOHNLGALT Well-Known Member

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    I didn't eat with Eric Sprott, but I listened to Max, Stacy & Michael Pento.


    Latest from Stacy & Max, then in the 2nd half Michael Pento



    Keiser Report: RIP, Petrodollar?




    You may have to rewind to the start of the Video.

     
  2. monopolize

    monopolize Well-Known Member Silver Stacker

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    Interesting story.

    http://www.theaustralian.com.au/bus...e/news-story/048ceaaf22d46ed24985d409461e8683

    Gold dream powers Novo Resources share surge
    [​IMG]
    A pile of gold nuggets found on the ground near Karratha is driving feverish trading in Canada and Australia.
    A pile of gold nuggets found on the ground near Karratha, a random half-tonne surface sample and a 1980s CRA drill hole are driving feverish trading in Canada and Australia on the hope a huge new gold region lies beneath the surface.

    Explorer Novo Resources has had $C550 million ($542m) added to its market value (now $C656m) since the start of July on excitement over the Purdy’s Well prospect, 35km southeast of Karratha. The trading has spilt over to Novo’s Purdy’s Reward partner, Artemis Resources. Its shares are up 240 per cent since the start of July, giving it a market value of $100m.

    [​IMG]
    Made with

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    The prospect has not even been drilled, sparking warnings of a bubble from analysts. But Canadian punters are piling in on the slim chance that Novo’s theory the Pilbara hosts a gold region similar to South Africa’s prolific Witwatersrand will come good.

    For 13 years, Novo executive chairman Quinton Hannigh has been chasing a theory that the three-billion-year-old Pilbara Craton could host similar deposits to the Witwatersrand Basin, which has supplied one-third of the world’s gold to date.

    At Purdy’s Reward, which Novo entered in May after striking a deal with Artemis, he says he has found the strongest signs yet to back the theory.

    The way Hannigh and Artemis executive director Ed Mead tell it, prospectors with metal detectors swarmed all over the region at the end of last year, uncovering thousands of nuggets and leaving the landscape pockmarked with small holes.

    “It blazes a trail for us ... from what I can see people are digging up nuggets the whole way across the section,” Hannigh said in a podcast interview with US independent gold analyst Jay Taylor.

    There is little downplaying by the Canadian geologist of what he is chasing. “It shares similarities to the Witwatersrand in some respects,” he says.

    Along with the buoyant statements and gold nugget finds, an apparently random trench sample taken just to establish sampling and assay protocols has been jumped on by speculators.

    The sample had an average head grade of 67 grams of gold per tonne, Novo said on August 8, driving a $C320m jump in Novo’s market value. “This is a very speculative story,” Hannigh admitted in the podcast. “It has big potential and the market is clued into that — it’s had a pretty good run given we haven’t drilled a hole.”

    One analyst, who did not want to be named, says Novo and Artemis has proven “very, very polarising” in the eyes of investors.

    The analyst notes that despite its reputation as a hub for iron ore, the Pilbara has a long history of delivering gold nuggets and that the Witwatersrand comparison trotted out by Novo has been floated many times in the past.

    “It’s a theory that comes up every 10 years or so, people have spoken about it for decades,” he says. “Investors should play softly-softly and be a bit more cautious because the share prices have run up extremely highly on the prospectivity of something that still isn’t proven yet.”

    Artemis’s Mead says the early stage of the project means he has been reserved about talking up the potential of the find, even at the annual Diggers and Dealers gold conference in Kalgoorlie earlier this month, where spruiking prospects is the name of the game.

    “I took a pocketful of nuggets and showed them to geologists who were across the story, but once we start getting drill results we’ll start to tweak the interest of mining engineers and other people,” he says.

    The theory that something bigger lies under the surface is also being informed by a drill hole dug 60km to the southwest in 1983 by Rio Tinto forebear CRA.

    That drill hole, the pair say, encountered grades of 11.7 grams per tonne from 1753m deep.

    Hannigh says core photographs show a conglomerate similar to what they are seeing at Purdy’s Reward (although without visible gold) and that CRA’s sampling, which was not chasing gold, was not consistent across the core. “It’s intriguing. We see at least enough to be dangerous.”
     
  3. harry_mr

    harry_mr Active Member

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    He mentions his trip.
     
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  4. Dusty

    Dusty Active Member Silver Stacker

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    I'd grab a little piece of Artemis pie for the next little while. Just my opinion.
     
  5. Dusty

    Dusty Active Member Silver Stacker

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    Good buying on Thursday and up 20% Friday.

    Will look cheap come the end of next week.
     
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  6. clear

    clear Well-Known Member

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    Why ?
     
  7. Dusty

    Dusty Active Member Silver Stacker

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    Live feed from site to the Denver gold show and bulk samples stacking up, drills coming in.

    Tuesday should be big IF we are not put into a trading halt.
     
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  8. Dusty

    Dusty Active Member Silver Stacker

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    Up another 8.7% today
     
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  9. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    Thanks for the heads up Dusty.

    I got in pretty heavily today on open. Unfortunately I didn't get the chance to jump in on Friday morning as I'd not had a chance to look into it properly.

    Having spent a bit of time at Kingfisher camp outside of Karratha I'd always thought it had the look of gold country. Well done on being the pioneer.
     
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  10. Dusty

    Dusty Active Member Silver Stacker

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    Tomorrow should show some action.
    Just my opinion.
     
  11. Pierpont

    Pierpont New Member

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    I remember Novo at C1.25 not long ago.Lots of blue sky. I ended up buying some Egan street options as its the exact opposite. Small localized area with historic production. I hope though that the gold precipitation theory of Novo is right... Shareholders could become very rich, good luck to them
     
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  12. ParanoidAndroid

    ParanoidAndroid Well-Known Member

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    The adjacent tenements saw some serious action today. No love for AVR however.

    Me announcing a buy is usually the reason.
     
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  13. Dusty

    Dusty Active Member Silver Stacker

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    Yes I'm in DEG and KAI but I'm selling now I've made a modest profit.
    ARV and NVO is where the money needs to be going forward and knowing bulk sample results are to come.
    Companys will move on hype and companys will make money by producing gold and NVO will be the one to do that.
    ARV is now more or less controlled by NVO so they WILL increase a lot more in time.
    I'm sure.
     
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  14. Bobsydney

    Bobsydney Member

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    How far away are bulk sample results?
     
  15. Dusty

    Dusty Active Member Silver Stacker

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    That would depend on when they 'decide' to realease them.

    Other updates will come out that may excit the market.

    Novo closed at $8,52
    ARV closed 33.5
     
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  16. Bobsydney

    Bobsydney Member

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    I'm no expert but what I've heard is the way that the rock was formed was by reefs which gold doesn't float so to get surface nuggets must mean there's more below.
    IMO looking at novo and arv on charts from July arv .07 novo .70 now novo 8.51 and arv 33.5 which from results should have pushed both equally so arv should be closer to .851.
     
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  17. clear

    clear Well-Known Member

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    Bit slow in catching on, love your work Dusty thank you and all the best.
     
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  18. Bobsydney

    Bobsydney Member

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  19. harry_mr

    harry_mr Active Member

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  20. Bobsydney

    Bobsydney Member

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