Orosur Mining Share Discussion Threads

[hazl] 13/7/2016 09:05

WAKEY WAKEY OMI!
Gold up this morning I notice..

[someuwin] 12/7/2016 09:42

Baron Day Trading ‏@barondaytrading · 2 hours ago

#OMI excerpt from CEO response --- "first time I see as CEO gold prices ahead of our budget" #Gold

[richgit] 11/7/2016 23:02

Here’s Why You Should Stay Away from Gold ETFs

Jeff Clark Senior Metals Analyst April 5, 2016



On March 4, BlackRock, the sponsor of the gold ETF iShares Gold Trust (IAU), announced it had temporarily suspended issuance of new shares in the fund. The sponsor admitted it had failed to register the new shares with the SEC as exchange traded commodity funds are required to do. The snafu was due to an “administrative oversight,” it was later explained.

BlackRock was quick to add that IAU shares continued to trade without interruption in spite of the suspension. Nevertheless, the reality is that management lost administrative control over the fund and violated SEC regulations. As a consequence, BlackRock faces fines and penalties from both the SEC and state securities agencies, plus the possibility of lawsuits from shareholders for damages and interest.

Perhaps most alarming, the situation only came to light because the fund alerted the SEC—in other words, government regulators were unaware of the violation.

With watchdog agencies asleep at the wheel, the fund issued and sold $296 million of unregistered shares. This uber-blunder at IAU lays bare the fundamental hazard of using gold exchange traded funds: counterparty risks.
All Gold ETFs Carry Counterparty Risks

Bullion ETFs are convenient, provide exposure to one of the oldest investments, and the gold that backs the fund is inventoried, and the bar list shown on their websites.

But they come with a set of risks inherent in their structure and operation. And these risks will grow commensurately with systemic uncertainties.

Gold ETFs and bullion are very different investments. Physical gold is a tangible asset. Paper gold is a financial instrument. Your choice is to own the real thing, or a paper proxy.

As a financial product, ETFs carry counterparty risk. This means that you must rely on another party—known to you or not—to make good on the investment. With a gold ETF, you are dependent upon, among other things, management prowess, fund structure, chain of custody, operational integrity, regulatory oversight, and delivery protocols (which are available only to very large shareholders). If any of those break down, your investment is at risk.

The IAU management failure is a perfect example of counterparty risk. Further, it was off everyone’s radar (apparently even the company’s and regulators’). And that’s the problem: the frequency and severity of counterparty risks with gold ETFs are rising.

Consider the operation of the SPDR Gold Trust (GLD), the world’s largest gold ETF. This fund uses a custodian—without question the most crucial counterparty in a gold ETF—with a history of unethical behavior that many investors aren’t aware of.
This Custodial Bank Is Not Fit to Hold Your Gold

HSBC is the custodian for GLD, which basically means that HSBC sources and stores the gold for the fund.

At first, a huge international bank like HSBC looks like a safe place to store gold. But Bernie Madoff was the “best” hedge fund manager in New York and MF Global was one of the primary dealers in US Treasury securities. The former was convicted of running the biggest Ponzi scheme in US history and the latter went bankrupt after illegally using client funds in a desperate attempt to remain solvent.

HSBC is teetering on disaster. Look at the behavior of Britain’s biggest bank and GLD’s custodian over the past two years:

It was fined $1.9 billion for money laundering and sanctions violations.

The US Department of Justice said the bank allowed drug traffickers to launder billions of dollars in the US and billions more to be moved across borders to countries facing sanctions, including terror-ridden Libya.

HSBC admitted to laundering $881 million for two drug cartels in Mexico and Colombia. It also accepted $15 billion in cash across the bank’s counters in Mexico, Russia, and other countries.

It has set aside $1.3 billion to settle claims that it manipulated foreign exchange rates.

HSBC faces charges that it used predatory lending practices in the mortgage market.

This is hardly the resumé of a bank that should be the custodian of the largest gold ETF. These concerns raise a couple red flags…

Will you get the best price when you buy GLD? Can we be sure the bank doesn’t “front run” its customers?

How safe are GLD’s holdings when the custodian bank has lost over $100 billion in market cap and its stock price is near the 2009 lows?

How adequate is the insurance backing those holdings?

Can we trust the custodian bank to safeguard the gold

The level of risk this fund carries is unacceptable.

One primary reason to own gold is for it to be your last line of defense in economic or monetary crises. But since the banking system is also at risk during periods of stress, so are gold ETFs as they’re part of that very system. Why sabotage those protections by exposing your gold to an unprincipled and unstable bank?



You Own an ETF but You Don’t Own Any Gold

Contrary to popular opinion, GLD does not buy and sell gold. It creates and redeems paper shares in the company. These are passed through a group of market makers who trade them on the NYSE. A corresponding amount of physical bullion is then deposited into or withdrawn from the fund’s vault in London operated by your friendly HSBC banker.

That means that you might own GLD shares, but you don’t own the metal.

Here are the requirements to take delivery of gold from your GLD shares…

You must own at least 100,000 shares. At the current share price, that’s about $12 million.

Delivery is 400-ounce bars only. You cannot opt for any other type of product or smaller weight.

The recipient must pay all settlement charges, delivery fees, and taxes.

The fund reserves the right to “settle in cash.” Even if you meet all the requirements for delivery, the fund can, for any reason it deems necessary, send you a check instead of bullion.

[gaaston] 11/7/2016 19:00

Not surprised a couple of bob off POG with May now in command of UK. However, there is plenty to worry us all, elsewhere.

[cyberbub] 11/7/2016 15:52

Almost all buys today so far. The larger trades this morning are clearly a rollover IMO.

[hazl] 11/7/2016 13:59

THEY will keep it going till the US elections I dare say.

[gaaston] 11/7/2016 13:54

richgit ~ it's not always easy to interpret your floral decorations :)

[richgit] 11/7/2016 13:22

Seems they are going to drive Markets up to gawd knows where,with the next
helicopter money or whatever.

The central Planners and stock plunge teams will gladly offload whatever they are holding,and guess who is going to hold the Baby one day.

Will all this eventually lead to inflation beyond their control,as all things
do when the insanely inept are in control !?

The clouds of carnage will be camouflaged by Blue sky.

[hazl] 11/7/2016 13:18

OMI is still one of my preferred shares,through the lulls.

[richgit] 09/7/2016 16:00

Gold ending up on Friday was certainly not supposed to happen

Are we witnessing Vampire cannibalism,some fall out within the Cabal,or something else ?

Some-or someone,loading up for some reason.

That`s two Comex exits opened within a week-yet the door slammed shut both times.

[hazl] 09/7/2016 14:29

yes abc, I have read similar, gold strong despite job data in US.

[someuwin] 08/7/2016 21:08

Up on TSX now.

And Gold looking v strong.

[abc125] 08/7/2016 17:15

If gold was going to go back down below $1300, today was the day for it to happen Imo. Like always, I watch the gold price action on NFP days. The blowout jobs number came out at 1.30pm GMT. Within 30 minutes we had a $30 dollar swing from $1365 down to $1335 then back up up to €1370!

Previously, a good NFP number would lead to a $30-50 down move which stayed down. We could still close the week below $1300 as the market is still open but if we stay around current levels one could argue that there has been a fundamental change in the PM market - namely, all dips are quickly bought.

Looking at OMI, Wednesday's 20% gain was consolidated nicely with hardly any give back and we closed the week with a large bullish green candle.

[richgit] 08/7/2016 11:55

PS>

I suppose it is Jim Rogers` belief that Paper Gold has to see a further big blow off against China`s leaders telling its people to BUY Gold.

In that context the last thing China`s leaders want is for their People to think they have been suckered into another false promise,so maybe China will set a floor on the Gold price no matter what.

If a meantime floor is maintained at $1200 I will be a happy bunny.

[richgit] 08/7/2016 11:47

hazl.

My only real fear is now seeing how totally deperate the Central Planners are
to keep stock Markets up and enforcement of stashing worthless paper,is that they
get so desperate to secretly release their final assets of any Gold to feed the Physical buyers.

In this World of Financial Fantasy pretend and extend can kicking until some total Catasrophic event.....Nothing would surprise..

Lie- is the game and they would lie up to the point every Ounce has gone to keep
this lie going.


I am sure the Chinese would love the US to empty the bowels of Fort Knox or other -and take that Gold at a fraction of eventual worth.

[hazl] 08/7/2016 11:29

Thanks.
With respect to my last point.
I had heard that gold equities may go down at first with the general market but at some point,depending on the severity of the crisis,be the only ones storming up?
However time will tell.
Ups and downs is about right richgit and things are always different in actuality when things do occur.
Expect the unexpected!

imov

[richgit] 08/7/2016 11:24

hazl.

Jim Rogers always sees Gold as dictated by Paper Gold,and that has been correct
so far as the crazy system has this Comex Margined Casino Paper plus the BIS
and their Nukes of paper Gold,fluctuating in price and manipulation,with mega thousands of Tonnes per year changing hands yet only actually delivers circa 48 Tonnes per year.



He could be right or wrong,as it all depends whether Physical starts to dictate
to Paper.

The day Physical does dictate-then all star gazing at charts related to Margined
Comex jockeys and JP Morgans`s manipulations with infintive shorts printing-is out the window.

This is a multi-year story and answers to be continual hindsights of hopefully
the foresight.

I am sitting with my picks through the ups and downs for the next few years
as the Central Planners create crisis upon crisis.

I see China has come up with their latest nonsense of how much Gold they have taken in June and we can multiply the truth of that by X.

[hazl] 08/7/2016 09:52

Jim Rogers is about the only one that doesn't seem to think there is a bull yet and talks about a 'double-bottom coming in gold.
I don't know, but I felt we were in the early stages of a bull and have got gold related investments.
I also wonder if when a general stock market crash occurs, gold stocks go down as well initially? They are after all equities.

Views welcome.

[richgit] 08/7/2016 09:25

seroserio.

I cannot make any authoritative comments re ETF`s.
There are frauds everywhere and some ETF could be subject to X borrowing Physical from the ETF in the hope of putting it back,or worse just not buying all the Gold and Silver clients pay for.

Margin leverage makes some people seriously rich,yet all Margin has risks.



I daresay you just have to ensure any chosen ETF is one that believably Guarantees your Gold/Silver is purchased, so purely for Myself I may look at Sprott,but then I simply pay for Vaulted Physical which may not make the returns of some ETFs but I sleep at night and that`s my preference.


HOC has been a home for Silver investors (in London) and has risen
smartly so they now need to show their results correspond for more potentially
huge upside to Gold and Silver.

You would also have to look at Canadian Silver stocks,and Mr Silver at Majestic
has created quite a following for His views on defeating the Manipulators,and
of course His prediction of Silver at $120 by 2018/2109,which only time will
tell.

I am no share Guru,I simply argue that for those throwing a fair amount of their
precious cash at stocks,they should take a stake in several picks and spread the
risk reward.

If Gold does what it should there will be serious Multi-baggers over the years to come,so it`s a numbers game you have picked a couple out of your say 5 or 10
picks -or even just 1.

It should go something like....

Major producers up first.
Smaller producers then follow
Then the frenzy towards those with just decent prospects in the ground.

Then possibly the Dot-Com Gold and Silver game where 2 shovels and a target are valued at ludicrous levels.


Whilst Gold is currently the greatest enemy to the Paper Currency producers
they will think up any form of nonsense to stop Gold rising fast,which means they have to try and stop Silver soaring.

The answer I cannot find anywhere,is "Where is the Silver coming from"to feed
China`s enormous demand for their Solar energy plans and any Investment frenzy.

It`s a similar Mystery for Gold (Fort Knox !!?)

[richgit] 08/7/2016 08:42

Physical Gold buyers are hoping for their bargain today,whilst the Tonnage buyers think any price is a bargain compared to paper,as their continuing worry
is not the price - but ongoing "availability" considering they have already paid up to $1900.

Let`s see if the Jobs report and fiddled figures produce another huge fantasy or
indeed what would still be a fantasy of the truth.

Tax the Robots !!?

Meanwhile the Bank problems are now hitting Germany,so Euroland is becoming
a basket case of falling out and whether Bailins should be instigated or whether their blueprint of Bailins,game plans and rule book are to be sent to the shredders......again !!!!

Any mentions of the dreaded word "Bailins" would send shivers up the spine of anyone with savings in the promise of Paper IOU`s.

No doubt Helicopter money is on its way,and deleteion of the word "Bailin"
from the Dictionary.







.

[ileeman] 07/7/2016 20:10

Clearly all silver/gold producers are a buy and hold at the moment.

Still have half my holding in OMI 25p-30p target.

Also if anyone is interested found a hidden gem which I have been buying over last few days. This profitable gold/silver producer is the only one I can find that has not moved up since the big jump in metals starting June.

TSG

overlay against OMI and HOC since start of the massive bull run in metals at start of June.

TSG at the bottom, needs to move 50-60%+ to catch up


free stock charts from uk.advfn.com

[seroserio] 07/7/2016 16:33

richgit -a few of questions if you have time.

1 When you talk of paper gold/silver, you mean ETFs? Or just anything other than physical.
2.Given you believe silver is so ruthlessly manipulated, do you have any favoured shares (other than buying physical?) HOC, FRES, PAAS, AG?
3. Do you believe this manipulation of silver will have to come to an end? Or do we have to wait for a financial re-set that it would seem many believe will occur?