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Storage cost argument against gold now applies to cash, McEwen notes
Gold Bull McEwen Sees Prices as High as $1,900 by End of Year
By Danielle Bochove and Millie Munshi
Bloomberg News
Monday, September 20, 2016
Robert McEwen, one of the gold's industry's most unabashed bulls, is predicting prices could surge as much as 44 percent by the end of the year as confidence in the economy buckles.
The metal could trade in a range of $1,700 an ounce to $1,900 by the end of 2016 as uncertainty builds around the stability of global currencies and sovereign debt, said McEwen, who is so enamored by bullion that he has founded two producers: McEwen Mining Inc. and Goldcorp Inc. Record-low global interest rates will cause a "huge amount of anxiety" for investors, who will turn to gold as a store of value and an alternative asset, he said.
... Dispatch continues below ...
K92 Mining Shows What 'Fast Track' Really Means
Company Announcement
By Kevin Silva
Market One Media, Vancouver, British Columbia, Canada
via Business News Network, Toronto
September 18, 2016
"Fast-tracking" is an overused phrase in the mining sector. But K92 Mining Inc. (TSX.V: KNT) has demonstrated exactly what that concept means.
Less than four months after going public on May 25, the company has completed additional financings totaling $18.5 million. It also refurbished the mill and mine facilities with enhanced processing capacity and has two drills turning onsite. With all this accomplished, production looks to be just days away.
"The technical team on site has done an excellent job with the production restart, and we are on schedule and on budget," says Director and Chief Operating Officer John Lewins. "With that focus on track, and with the enhanced financial flexibility resulting from our recent financings, we are now looking to target a resource expansion that we believe exists."
K92 has under-promised and over-delivered. ...
... For the remainder of the announcement:
http://www.bnn.ca/k92-shows-what-fast-track-really-means-1.568196
Gold "is a currency that doesn't have a liability attached to it," McEwen said today in an interview at a gold conference in Colorado Springs. "A store of value that has gone for millennia. And the big argument against gold used to be it costs you money to store it. Right now it's costing you money to store your cash." ...
McEwen is betting big on gold. As the chief executive officer of his eponymous company, he is paid $1 a year and doesn't receive bonuses, wagering that his share holdings will reap him ample rewards. ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2016-09-20/gold-bull-mcewen-sees-...
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