Gold No Slam-Dunk Sell in China as Aunties Buy Bullion
Bloomberg
Bullion consumption in the world's second-largest economy will surge 29 percent to a record 1,000 metric tons in 2013, according to the median of 13 estimates from analysts, traders and gold producers in China surveyed by Bloomberg News. Demand that 
US Silver Moves Down 2.8%, Japanese Gold Bullion GainsMetalMiner
Gold, Silver Drop for First Session in Three, US Bullion Sales RiseCoinNews.net
US GOLD PRICE – Bullion falls following build in Comex shortsFastMarkets Metal News
BullionVault –Gold Seek –Benzinga
all 111 news articles »

Trade Arabia
UAE bank offers gold bullion coins as profitable and safe investment option
Emirates 24/7
Noor Islamic Bank (Noor) has rolled out sales of the UAE gold bullion coins for retail buyers in denominations of one, half, quarter and one/tenth ounce in 99.99 per cent purity (24 karat). The innovative product offering makes Noor the first Islamic
Noor Islamic Bank Offers UAE Gold Bullion Coins in Partnership with DMCC as Zawya (registration)

all 3 news articles »

If it was not for Barrick’s (ABX) and Newmont’s (NEM) Nevada mines they would probably be bankrupt by now. The infrastructure, stability and experienced local labor force in Nevada makes it just too appealing for investors than other places in the World like South America and West Africa where there are too many geopolitical risks.

There is no doubt we have been in one of the toughest mining bear markets in modern history.  Any one can pick stocks in a rising bull market.  It is the analysts and fund managers who can predict the winners that are outperforming in a bear market and the coming turnaround that should be followed.

For a long time, I told you to watch Comstock Mining (LODE) as it was coming into production and could gain market share from the big gold mining giants such as Barrick and Newmont who made stupid moves with high cost projects in risky jurisdictions.

On the other hand, Comstock has over delivered on its promises, while the big boys have disappointed their shareholders with billions of dollars of write-downs.  The uptrend of Comstock versus the majors such as Barrick is apparent over the past two years by studying the chart above.  Comstock may be on the verge of a breakout versus its peers.

Major institutions have been buying most notably Century Management, US Global Investors and Solus Asset Management as they can see the improving balance sheet and as Comstock enters profitability and free cash flow.  The turning from red ink to black ink could possibly occur over the next two quarters.

Since I started following Comstock in my premium service, the Earning Per Share losses have decreased from $(-.22) to $(-.07).  If the price of gold moves higher I expect Comstock to turn profitable in the 4th Quarter.  If gold continues to correct shareholders may have to wait until the first or second quarter to enter the black as the margins will be tighter.

EARNINGS PER SHARE – QUARTERLY RESULTS
FY (12/13) FY (12/12) FY (12/11)
1st Qtr ($0.11) ($0.21) ($0.11)
2nd Qtr ($0.10) ($0.23) ($0.21)
3rd Qtr ($0.07) ($0.22) ($0.08)
4th Qtr NA ($0.12) ($0.09)
Total ($0.28) ($0.77) ($0.48)

Comstock Mining (LODE) was just approved for a modification which will help the company expand their heap leach pads and reach their production goals of 40,000 ounces of gold annually. The company should increase the rate of production, which should drive down average costs. The company also recently announced that for the three months ending September 30th, they shipped a record amount of gold and silver and are on track to deliver 20,000 ounces of gold for 2013.

This is a significant achievement during one of the worst bear markets in gold mining history in 2012 and 2013. The major miners are dealing with high cost production above the spot price. Comstock Mining (LODE) has moved from a mine explorer into a low cost gold and silver producer in a supportive and friendly mining jurisdiction.

Comstock is reducing its losses and on track to earn a profit.  For months I have tried to shine light on this emerging gold producer which should be a model to other developing junior gold miners during this bear market.

They knew the key was sustainability and that if they could generate cash then it will allow them to continue scaling up and increasing production. The geologic potential of this deposit is huge as management and the geologists believe they are only scratching the surface.

Comstock should be in a position to generate free cash flow to expand resource growth in 2014. That is when I think it could really make waves in the mining community as many do not understand how big an operation this could eventually become.

This production increase to 40k ounces per year for Comstock may be just the beginning as they could expand exponentially over the next 2-4 years as the price of gold and silver continue their secular upward trends. With the addition of the Dayton Mine the company could move up to producing 150k ounces at some of the lowest costs in the industry. Amazingly, the price is still near lows, but may not be for too long as they begin to move from the red to the black or operating with a loss to positive earnings per share.

Disclosure: Jeb Handwerger Owns Comstock Mining Shares and the company is a sponsor on http://goldstocktrades.com

___________________________________________________________________________

Sign up for my free newsletter by clicking here… 

Sign up for my premium service to see new interviews and reports by clicking here…

Please see my disclaimer and full list of sponsor companies by clicking here…

Accredited investors looking for relevant news click here…

Please forward this article to a friend.  To send feedback or to contact me click here

Listen to other interviews with movers and shakers in the mining industry below or by clicking here…

Listen to internet radio with goldstocktrades on BlogTalkRadio

 

 

 

 

PRECIOUS-Gold bullion steadier on dollar drop after four down days
Reuters
Bargain hunting, dollar fall rekindle gold bullion buying * New York futures underperform spot gold * Market looks to Yellen comments set for Thursday * Coming up: U.S. weekly initial jobless claims Thursday By Frank Tang and Clara Denina NEW 
Gold Caps Longest Slump Since August as U.S. Equities ReboundBloomberg
Gold Advances From a One-Month Low on Signs of Increased DemandSan Diego Source (subscription)
Gold hits lowest level in nearly a month on Chinese data, Fed worriesZee News
CoinNews.net –The Malay Mail Online
all 132 news articles »

Some high quality, junior gold miners are already turning higher as investors believe there should be increasing merger and acquisition activity in 2014.  The majors have written down billions of uneconomic gold and silver mines.  They have cashed up and are actively looking for the low Capex, high grade and economic assets in stable jurisdictions.

Investors should prepare by buying some attractive takeout targets with new discoveries that can be put into production with less capital expenditures.  Despite the bearish sentiment on the junior gold miners some of our featured companies have been under major accumulation.

I highlighted this past summer in my premium service, Corvus Gold (KOR.TO or CORVF) and predicted a major high volume breakout.  The stock has doubled off its lows and may be just beginning its move to potentially all time highs at $1.80.  I have followed this company for close to two years and my premium subscribers witnessed a triple surpassing my target from our initial alert in 2011.  

Corvus may now bounce off its 50 day moving average at $1.15 and breakthrough resistance at $1.30.  The next target would be all time highs at $1.80.

This was a major winner for my readers in a very tough market in 2012.   Anyone can pick winners in a bull market, but picking the top performers in a bear market is the real test of an analyst.

I’ve been to the North Bullfrog Project and know the top-notch management team who have a track record of finding huge gold mines.  They put their money where their mouth is and own over 10% of the outstanding shares. Corvus appears to once again be leading the junior gold miners as they are making high grade discoveries at its North Bullfrog Project in Nevada.

This should have a major impact on the economics of the mine.  A revised mine plan is currently being developed taking into account the high grade discoveries.  Remember this project has excellent infrastructure and is heap leachable meaning the potential capital expenditures is low.

Corvus shares are in strong hands with management owning about 10%.  The four top shareholders which includes the prestigious Toqueville Fund and the mining giant Anglogold Ashanti control around 50%.  There are only about 13 million shares in float out of a relatively small 69 million shares outstanding with no warrants.  This means if the gold market comes back into favor and Corvus continues to lead there could be more explosive moves ahead.

A few weeks ago, Corvus announced assay results which showed a major extension of the high grade Yellowjacket zone to the North and West.  Corvus thinks this may be just the beginning as there are many more targets on the property.  Jeff Pontius recently said in the October 29, 2013 PR, “This multimillion ounce potential, linked with the excellent project infrastructure, secure mining friendly jurisdiction, projected simple oxide gold recovery and currently estimated low development cost, highlights the exceptional asset controlled by the Company.”

I am monitoring for a technical bounce off the 50 day at $1.15 and a breakout above $1.30 as the increasing accumulation and improving fundamentals should cause Corvus to continue its outperformance.

Listen to my interview with Corvus CEO Jeff Pontius as we discuss advancements with their North Bullfrog Mine by clicking here…

Contact Information for Corvus Gold (KOR.TO or CORVF):Ryan Ko, Investor Relations, Email: info@corvusgold.com

Phone: 1-888-770-7488 (toll free) or (604) 638-3246 / Fax: (604) 408-7499

Disclosure: Author/Interviewer is long Corvus and the company is a sponsor on my website.

___________________________________________________________________________

Sign up for my free newsletter by clicking here… 

Sign up for my premium service to see new interviews and reports by clicking here…

Please see my disclaimer and full list of sponsor companies by clicking here…

Accredited investors looking for relevant news click here…

Please forward this article to a friend.  To send feedback or to contact me click here

Listen to other interviews with movers and shakers in the mining industry below or by clicking here…

Listen to internet radio with goldstocktrades on BlogTalkRadio

 

 

 

 


Live Trading News
Gold Vault Opens in China as Bullion Goes From West to East
Bloomberg
A gold vault that can store 2,000 metric tons, double China's projected consumption this year, opened in Shanghai this month as owner Malca-Amit Global Ltd. seeks to benefit from rising demand in Asia's largest economy. The facility is the biggest for
Storage firm opens gold vault in Shanghai free trade zoneStraits Times
China Adding To Gold Reserves As Prices FallLive Trading News

all 8 news articles »

Gold Bullion provides update on its Castle Silver Mine Property
EIN News (press release)
Castle Silver Mines Inc., a wholly owned subsidiary of Gold Bullion, has completed staking of 15 claims consisting of 168 16-ha claim units in Haultain and Nicol Townships and has significantly increased the existing land package. Approval for the


MINING.com
MARKET REPORT: A gold star for bullion website Sharps Pixley
This is Money
Its website, SharpsPixley.com, remains a leading online bullion information provider and is a must-read for any dealer who loves to duck and dive in the highly volatile gold market. Ross Norman, who bought the business from Deutsche Bank in 1998, has
German bullion retailer Degussa buys London dealer Sharps PixleyReuters
Bullion dealers with 375-year history mergeMINING.com

all 3 news articles »


DailyForex.com
BULLION MORNING – Gold prices stabilise, listless trading expected
FastMarkets Metal News
November 6, 2013 by Kathleen Retourne. London 06/11/2013 – Gold prices recovered slightly on Wednesday morning although concerns about the unwinding of US monetary stimulus and speculation about an ECB interest rate are weighing on sentiment.
Jeff Christian Calls Gold Conspiracies 'Garbage,' Sees Price Boost From Mining Seeking Alpha
Gold prices flat on 'tiny' volume, West turn bullish but Indian households Metal.com News
Gold & Silver Market MorningGold Seek
MetalMiner –iNVEZZ
all 13 news articles »
Gold Bullion provides update on its Castle Silver Mine Property
PR Newswire (press release)
VANCOUVER, Nov. 4, 2013 /PRNewswire/ – Gold Bullion Development Corp. (TSXV: GBB) (OTCPINK: GBBFF) (the "Company" or "Gold Bullion") wishes to provide an update on its Castle Silver Mine Property. Castle Silver Mines Inc., a wholly owned 

and more »


BDlive
Gold Gains, Mt. Rushmore 5 Oz Silver Bullion Coins Debut
CoinNews.net
Gold turned higher for the first time in three sessions Monday. The gain was modest, supported by a weaker U.S. dollar. Gold for December delivery tacked on $1.50, or 0.1%, to close at $1,314.70 an ounce on the Comex division of the New York Mercantile 
Gold gets a lift from dovish Fed official, weaker dollarCNBC.com
Gold Snaps Losing Run as U.S. Data May Point to Slower RecoveryBloomberg
PRECIOUS-Gold ends flat, underpinned by dollar drop, volume weakReuters
Gold Seek –BDlive
all 50 news articles »
(PR) Gold Bullion provides update on its Castle Silver Mine Property
Wall Street Journal
Castle Silver Mines Inc., a wholly owned subsidiary of Gold Bullion, has completed staking of 15 claims consisting of 168 16-ha claim units in Haultain and Nicol Townships and has significantly increased the existing land package. Approval for the