The dollar’s off 70 cents as I type this, down below $82 again to a low we haven’t seen since mine and the Fly’s birthday on the 25th of last month. That “chuffing” sound you hear is Ben Bernanke’s magical reverse vacuum blowing hundred dollar bills at Spain by way of behind the scenes European central bank bailout transfers. $125 billion you say? It’s a mere bag of shells when one can print up one’s own constantly deflating sovereign currency in a zirp atmosphere. Isn’t this fun? Why didn’t Japan think of this??
Anyone else getting the hard stuff while it’s cheap? Take a look at my two “T’s” — TKC and recently murdered TC for a flyer. Of course I still love BAA, but ANV is looking very tasty and has RGLD ever really disappointed you? On the silver side, it’s broken record time again… AG, EXK and SLW remain the nobles. PAAS for a flyer. For those with less time, GDXJ and SIL are the ETF plays for now.
I had one of the worst Friday’s in my career this past week, dealing with a very large dollar client issue that one would have to hear to believe. One thing I can say about my industry, there’s hardly ever a dull moment. You guys think trading stocks is a bitch? Try something more illiquid next time…
Best to you all.
32 Responses to Back in Black
Didn’t TC do a pipe or private placement recently that blew them out of the water?
Yes, but they were sinking before that…
always excellent Jake, thank you.
Jake, thanks as always for taking the time out of your schedule to post.
bubba is back.thanks jake.
(In the most somber, melodramatic tone):
Hope this week swings to the upside for you.
Fug, me too! Funny thing is, when I have weeks like this I always remember the most important lesson my Dad taught me…
“Life’s not fair, deal with it.”
(Of course, you can imagine my views on politicians who go about expropriating with “fairness” as their shield…)
Funny how our Dads’ advice sounds wiser the older we get.
A good corollary to that advice might be the phrase an old mentor of mine used to drop whenever it looked bleak: “This, too, shall pass.”
Damn if he wasn’t right every time.
I was really hoping I’d see AAU on that list…
what do you do during the day, I mean what kind of job?
It is well known that during working hours, Mr. Jake Gint is a community organizer.
Illiquid egos? Yeesh!
I’ve had it good the past number of quarters now; the freedom to silently withdraw without people being cognizant of the facts.
Hang tough Jake.
Also, please don’t leave Ibc, as then I would consider doing the same. You’re a voice of reason around this establishment.
Picked up some TC yesterday, thanking you in advance for bringing it to my attention Jake.
Pats pick up Ballard from G-Men off waiver wire … LOL!!!!
Do you still like AAU and if so why?
Malaysian authorities have dismissed the appeal filed earlier this spring by 3 citizens against Lynas (LYSCF), which removes the main obstacles for startup of production at the new world’s largest rare earth processing plant owned by Lynas.
The Malysian Ministry of Science, Technology & Innovation that considered the appeal released a statement saying there is “no strong justification nor scientific or technical basis” to withhold the operating licence that was originally granted to the plant last January.
The ministry told Lynas that it must now submit plans to immobilize any radioactive elements found in the plant’s byproduct waste and to ammend their emergency response plan to consider dust control.
Mashal Ahmad, managing director of the plant told news agencies, “We already have the answers for the two new conditions.”
The Malaysian ministry’s rejection of the appeal removes the largest of 2 hurdles that must be resolved before the plant can start up. A special parliamentary select committee (PSC) which has been reviewing plant safety is expected to release its report on Monday, with a debate to be held the day after.” All indications to date from the ministry, academics, and consultants and experts in the rare earth field have suggested that the plant will be very safe to operate.
In January 2012, the PPS of Lynas shot from $1.05 to $1.70 when the Temporary Operating License (TOL) was granted, but it later it was revealed that stipulations were attached before the actual TOL would be issued. In the interim, a lawsuit was filed by a minority opposition party, SMSL, and had preventted the plant from being granted permission to startup. According to Malaysian law, the appeal’s dismissal is considered final and cannot be reviewed or overturned in court.
This information was released after the closing bell on the Australian stock exchange where Lynas is traded at high volumes (12 to 20 million shares per day). LYSCF and LYSDY on the US exchanges usually trade less than one million shares per day.
UPDATE: ** ALL ABOARD FOR LYSCF, train leaving station now **
Shares of LYSCF are already up 13 percent today as the Malaysian government has issued a report by their parliamentary committee to approve Lynas plant startup, on the heels of last weeks official court decision to reject the appeals of protestors.
Lynas is set to become the world’s largest rare earth producer outside of China with the Malaysian parliament report approving their brand new processing plant in Malaysia.
Lynas already has stockpiled over 8 months of preprocessed ore concentrate at their Mount Weld mine in Australia, which has the second highest quality in the world of REE mine ores as ranked by potential net recoverable revenue per ton of ore. Lynas expects to become the worlds largest producer outside China with production of 10,000 tons the first year and 20,000 tons/yr thereafter.
After a lawsuit by the opposition party protestors was thrown out of court last week, the Atomic Energy Licensing Board (AELB) under the Ministry of Science, Technology, and Innovation (MOSTI) has granted the Temporary Operating License (TOL) subject to meeting 2 additional terms, for which Lynas has submitted paperwork today for final approval. The additional terms are merely a backup water supply for dust control and a plan for fixation/stabilization of wastes to be stored at their residue storage facility.
The Malaysian parliament received a hugely positive report recommending the government approve Lynas, which was prepared under the direction of the Parliamentary Select Committee, and which contained the opinions and critical reviews of independent international rare earth experts, radiation safety experts, and academia and private consultants.
Lynas trades over 20 million shares per day on the Australian ASX, and currently has 10 percent short interest, which should trigger a short squeeze. On the US exchange LYSCF and LYSDY are the two tickers, which trade a few hundred thousand shares per day.
You are not required to “make with the stock picks” or wax eloquent on the state of the market. But you are required to check in and update the overall status of yourself.
Stand and deliver, Sir!
Stand and deliver.
Echo Anton’s remarks. JGint, Bleier help me balance the insanity of this site and market … and JGint has been missed. Hope you are well fella.
If $SLV breaks 26 definitively, run on all Silver stocks.
It’s been 10 days since Jake has posted, looks like he’ll be following a certain Hawaii trader out the door.
Clearly it’s not a priority anymore.
Typically, the best way to get Jake to respond is from a post from yours truly. Hope all is well Jake.
Romney is a piece of shit like all other conservatives….hello?….anything?….nothing?
$GLD and $SLV still hanging on but this is dangerous territory. I would wait until price is back above Thursday’s close to open a new position in any PM stock.
I am remiss… many apologies to my friends. I will try to post something this weekend.
This PM market has been kicking my ass, along with my present occupation… but I have neglected you too long, I acknowledge.
I am still long, though not leveraged in any respect.
Lungsac, your provocations are nuncupatory.
Your man has outdone even Jimmy Carter. Perhaps necessary, historically speaking. We shall see.
Good to see you back.
It’s a pivotal election year Senator, we urge that you get back on your steed and galavant!
Back in Black!