Reflections in the Paleozoic, Eureka, Nevada
*** GENERAL MOLY NEWS ***
General Moly Announces Results of Annual Meeting (6/14/2013)
Mt. Hope construction continues despite financial issues (by Marianne Kobak McKown, Elko Daily Free Press, 5/31/2013)
General Moly Provides Finance Update (5/15/2013)
General Moly Quarterly Report (Released 5/3/2013)
A very detailed General Moly briefing for investors on the status of Mt. Hope molybdenum project:
General Moly Investor Presentation
See earlier March 22 and March 29 reports for a full chronology of the $665 million Hanlong loan suspension.
Latest Nevada Gas Prices (click this link)
My latest Kitco commentary: Oil, Copper & $1,100 Gold - The Seven Year Itch (07/22/2013)
Paintings by Mariana Titus, The Three Anas & The Three Moon Anas, are presently at Lafitte Guest House & Gallery, New Orleans
Friday's morning prices...
Below are the morning prices used for today's analysis:
COMEX Gold price = $1,324.1/oz (August contract most active)
COMEX Silver = $19.935/oz (September)
COMEX Copper = $3.1110/lb (September)
NYMEX WTI crude = $105.01 (September)
ICE Brent crude = $107.13/bbl (September)
Eureka Miner’s Gold Value Index© (GVI) = 88.97 (gold value is trading at a discount to oil and near fair value relative to copper)
Value Adjusted Gold Price© (VAGP) = $1,243.5/oz
COMEX - VAGP = $80.6/oz; gold is trading at a declining premium to key commodities.
General Moly (GMO) = $1.94 down 2.02%
Barrick Gold (ABX) = $17.47 down 0.23%
Newmont Mining (NEM) = $29.55 down 1.27%
Gold has had a good week above the $1,300-level but has retreated some today, down $4.7 to $1,324.1 per ounce. Please checkout my input to the weekly Kitco News Gold Survey (below) and most recent Kitco News commentary for my latest thoughts, Oil, Copper & $1,100 Gold - The Seven Year Itch.
This morning we continue our summer story about Mt. Hope...
Mt. Hope - A Journey in Space and Time (Part II, From Supernovae to Earthly Minerals)
A multi-part series that circumnavigates the Mt. Hope molybdenum mine site on Eureka County back roads and highways. Starting with the creation of molybdenum in the early universe, this journey will cover the geology of the area as well as its colorful history. There will be two trips, Loop#1 and #2, which include ranches of early settlers, a portion of the Pony Express Trail, a challenging section of the old Eureka-Palisade Railroad and a mine site tour. If you'd like to visit Mt. Hope, please make arrangements beforehand with Zach Spencer, General Moly's Director of Media Relations. Like any mine site, there are both security and safety concerns at Mt. Hope, but Zach and the Mt. Hope team do everything possible to accommodate public interest in their project. You can contact Zach by e-mail: email@example.com
Spot moly oxide prices have fallen far deeper into the $9 per pound-level. Here are the latest numbers compliments of moly benchmark miner Thompson Creek (TC):
Metals Week Weekly Average: US$9.25 as of July 22, 2013 (updated weekly)
Ryan's Notes Average: US$9.15 as of July 23, 2013 (updated twice weekly)
The London Metal Exchange (LME) futures contracts have thankfully returned above spot prices this week. Remember that this is a thinly traded futures market and contract prices reflect developments in Europe probably more than the global spot price averages above.
3-month seller's contract $20,500 per metric ton ($9.29 per pound)
15-month seller's contract $21,200 per metric ton ($9.62 per pound)
The Colonel's Gold, Silver & Copper Prices for Next Week
Here is my weekly input to the weekly Kitco Gold Survey:
Photos by Mariana Titus
Please checkout bayoutales.com for books and book orders
Paintings by Mariana Titus, The Three Anas, are presently at Lafitte Guest House & Gallery, New Orleans
Write Colonel Possum at firstname.lastname@example.org for answers to your questions or to request e-mail updates on the market