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   Gold/Mining/EnergyMcEwen Mining

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To: JW@KSC who wrote (14041)12/21/2015 7:46:52 PM
From: Erie
   of 23829
JW or others,

Some of the posts imply that this month (Dec.) is more important the other months in terms of the rules for being listed. I'm not challenging that interpretation, I'm only asking for an explanation in order to understand our situation better. I get the rule about being warned after the 30 day average drops before $1, but is there a provision for getting 'off probation' (or whatever term I should be using) if the most recent month has an average above $1? Even if there is, I don't see how MUX could pull that off in the last few days.
However, if there is such a rule, could January, or Feb. do the trick?
If Rob personally or the MUX buyback program is buying a lot recently, it might explain the unusually high volume on the Toronto exchange. Rather than following the NY lead, it almost seems lately that Toronto is leading the way higher. But it's hard to know, without some more digging, because of the fluctuating exchange factor.


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From: Robov12/21/2015 8:09:49 PM
2 Recommendations   of 23829
Today was only the 2nd time MUX has managed a close above $1.00 since May 22, 2015. When MUX fell blow that level on 5/22/15 gold closed the day at $1206. The 3 days it managed to close above that level 10/14 - 10/16 of 2015 gold topped out at $1189. Today gold closed at $1077. So that being the case where will MUX be the next time makes it back to $1206 or $1189. I think it is clear the miners have and are bottomed vs POG and that we could be in for some nice % gains into January just like last year. Where we go long term though is still debatable.

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From: Robov12/21/2015 8:28:51 PM
   of 23829
Gradual Rally Into Year End

By Turd Ferguson | Monday, December 21, 2015 at 12:13 pm

"Gradual rally into year end", along with "sell the rumor, buy the news" regarding the Fed rate hike, has been our mantra since we saw that November price smash coming back in October. So far, its sure seems like it's all coming along as planned.

Metals prices are UP again today and gold is now HIGHER than it was when the FOMC rate decision was announced back on Wednesday. Uh-oh. This has to be making some of the big Spec shorts more than a little nervous.

So, whaddayathinkathis?

Perhaps more importantly, how about this?

And what if we looked at it this way?

So, $1080 and $1090 become pretty important this week. It's certainly no coincidence, therefore, that the high of the day (so far) in the Feb16 gold is $1079.80. If we can get through there and head off to tackle $1105 before the end of the year, our plan of a decent January rally will really begin to take shape.

And it's not just gold. Silver, too, is now ABOVE where it was prior to the FOMC fedlines:

So, think of this from the perspective of a Spec least those shorts that are actually held by thinking, logical human beings. You've followed gold all the way down from $1180 in late October, in a plunge that was "caused" by the expectations that The Fed was finally poised to raise rates. On October 27, one day before the October FOMC that The Banks used to start the ball rolling, a CoT survey was taken and it looked like this:

Large Spec: Long 225,985. Short 68,551. NET LONG 157,444 contracts

Small Spec: NET LONG 8,404 contracts

Gold Commercials (Cartel): Long 138,770. Short 304,618. NET SHORT 165,848 contracts

Compare those numbers to the CoT from last Tuesday, one day before the December FOMC that finally produced the first rate hike in nine years and the one which had been promised almost since the beginning of QE3 in October of 2012:

Large Spec: Long 155,934. Short 142,278. NET LONG 13,656 contracts

Small Spec: NET SHORT 5,393 contracts

Gold Commercials (Cartel): Long 151,015. Short 159,278. NET SHORT 8,263 contracts


If over the past six weeks...

You're a Spec short (large or small)...

At what point do you begin to get nervous about your position?

The Fed has hiked rates just as you were told they would. But you were also told that this would cause gold prices to fall even further. But they haven't. Instead, after falling initially, they've completely reversed and are how HIGHER than they were before the news back on Wednesday. "Oh crap", you say, and you begin to cover. Not so much at first as you're hoping that this is just a simple dead cat bounce. But then gold move UP through $1090. Does this make you even more nervous? How about $1105 and the 50-day moving average? Would bursting through there cause you to not only buy to cover BUT also buy to move long?

This is how it works, my friend. And this is why I've repeatedly told you to expect a gradual rally into year end and then a strong rally in January. And this is why I bought that small collection of call options for expiration in late January.

And what is THE KEY POINT in driving this "unexpected reversal" in gold? Go back and look at that CoT data. While price was falling from $1180 to $1060, the freaking Commercials covered an incredible 145,340 shorts. That's 14,534,000 ounces of paper gold obligations that they were able to buy back. If you figure that, on average, they made at least $70/ounce on the "trade", that's just north of one billion freaking dollars they made by shorting and capping in October and then covering the contracts back up in November/December. Yes, The Bullion Banks work at the behest of The Central Banks in managing and maintaining the gold price. But that's just in The Big Picture. For the day-to-day, they make A LOT of freaking money in the process of doing it, too. It's good work if you can get it and The Banks will do everything they can to protect this CASH COW.

Again, this is why we hope/pray/plan for the day when this entire fraudulent fractional reserve bullion bank pricing scheme comes crashing down. Besides the obvious economic disparities caused by the manipulation, how many untold billions of dollars have been stolen from "regular" investors and traders over the years through this criminal control and manipulation of the paper markets?

What will likely happen now and in January? All of the Spec short-covering and buying will be absorbed by The Banks through brand new short-selling. The Spec NET LONG position will expand as will The Commercial NET SHORT position. Will the "market" begin to break this time, with a higher high and an UPward resolution versus The Nemesis Line? I don't know. We'll have to wait for January and February to find out. In the meantime, however, I am completely comfortable with the forecast made back in October, well before this current selloff began...That, after bottoming in early December, gold (and silver) will gradually rally into year end and then accelerate this move in January. What happens next is anyone's guess.


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To: Erie who wrote (14051)12/21/2015 10:51:30 PM
From: JW@KSC
   of 23829
Erie, understand your confusion and hope to help some. There has been a lot of information posted, but with the lack of recommendations or just a few it's hard to find the information if one does not take the time to read all board posts at some point at the end of the day, otherwise it becomes a daunting and confusing task find important Information relating to MUX especially the Delisting Info.

Even This Post (Link) where I asked for a reommendation on for a specific reason only recieved One, and that was from Curveball, who I had been discussing anot her Stock and it's issues back and forth in SI Mail. Granted it was buried at the end the rate short post for me, but the post was marked URGENT in the Title.
Sometimes I wonder if it's worth it, updating the Board Intro, Find and repairing charts that end in a dead link, the extensive DD (thanks Wolf)! on top of my Own Huge Research Project listed in that URGENT post.

(Opps had to take a break for an important reason, SpaceX launch and then the first successful commerical Landing a of a Rocket Booster back on land, a SpaceX First innovation. It may not sound like much to most, but this innovation will Saves Millions of dollars, in the Cost of being able to refurbish and reuse rocket boosters, Potentially saving up to 70 to 80% of the cost in launching Satellite Payloads, International Space Station (ISS), Resupply Missions, and Astronauts into space to the ISS. OK Boys, Space Stepping down from my Space Soap Box now. JW@KSC

Spaceflight now Coverage and Videos of Tonight's Launch, and landing, which is an amazing feat seeing a Rocket Returning to Earth just minutes after Liftoff and Deploying two an Orbcomm Satellites.

Labaguette posted a helpful LINK in PA post on 12-15 that would helped and I saw you read that by your reply to his post .

I had hoped My reply in a Post to Lab today on Rules NYSE Section 8 Suspension and Delisting and my commentary and Link to the NYSe Rules on Delisting would have either answer most questions, or perhaps Given one a headache trying to figure out the legalese of those Rules.

Sorry I can't answer your question straight out you have to read the rules and interpret them with your own opinion.

Only McEwen Mining Executives and the NYSE could possibly give a good explanation as to the Possibilities of a definitive action going forward.

For its part MUX PR's have been open and honest in giving shareholders a worst case scenario. yet there are a lot of options available, at least in my interruption of the Rules, without having investors running for the hills and redeeming their Shares. If they were to run to the hills, I suggest a good place to start is the Battle Mountain Area in the Eureka-Cortez gold trend of Nevada and let thier voice echo in Support of McEwen Mining !

Ok, let's get on with the main subject at hand and trying to somewhat get an answer.

I did not find the word probation or probation period in those Rules, but in and amongst the words there are various ways to preclude a Delisting In my IMO, especially when it comes to a Company such as MUX and with the on going projects and company initiatives and cash balance Mux has, not to mention the infamous man behind the Company.

I would not like to be on the receiving end of the NYSE Commission that Delist's Rob McEwen's Company, with the Flack that might be received and outed as being unfair from the Gold Mining Industry, Industry Commentary Writers, Mining Executives, the TSX, Retail Investor, Fund Companys with a Stake in MUX, ect.

Not with all the positives McEwen Mining has done this year.. This is not the Typical Company that would recieve a Delisting even with the PM Market Conditions.

There are many ways in the Rules that give the NYSE leeway (wiggle room) to avoid that embarrassing situation. As long as MUX provides the Letters Required.

At worse it would only heightened the ongoing precious metals manipulation and the obvious shorting strategies going on in PMs and Jr. MINING Stocks in general, as well as what has seemed like a long standing and serious shorting attack against a high profile man in the industry, going back to the days of OTC USG.
If you want to make money shorting, there no better scenario than Shorting a stock that is in small to medium company that has a High Profile with lots of investors trying to push the stock higher, in a market with so many Bears ànd Bearish Tones seeming winning the Gold Bear / Bull Game in this Rigged Stock Market Casino.

Of course that all IMO, and this couldn't possibly be happening in an Honest American Stock Market.

Not waving my American Flag literally and in speech much these days, even being a Proud 10 year Veteran of the USAF.

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To: JW@KSC who wrote (14043)12/22/2015 6:00:10 AM
From: labaguette
   of 23829
That gives us the price payed for the Oz in the ground : $6.80

( at first glance , nv gold was struggling for life ; but the price payed by mc ewen is 50 K above the first asked price 400 K -on the nv gold website ) but that is unimportant .

nevertheless a good bet for mux , able to increase the Gold Bar LOM.
Waiting for more news ;
nice find for jw .

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To: JW@KSC who wrote (14041)12/22/2015 8:56:08 AM
From: Erie
1 Recommendation   of 23829
Thanks for all your work and the helpful reply to my question about the significance, if any, of the end of the year-end date in regards to potential delisting. I think I now know the answer and will state it for others who may have been as fuzzy on this as I was.
First, I should clarify my original puzzlement. I had read the earlier posting and posted rules, but then I saw posts that implied that somehow it was important for the MUX price to close this month (Dec.) at above $1 and with an average above $1. Since we were too far into the month to hope for a $1 average, I couldn't understand why one or more posters were paying special attention to the month or year end. I thought maybe I had missed something in the rules. And hopefully so!
But I had not, at least according to my reading of the rules. MUX needs to have a calendar month in which it both closes and averages over $1 over the previous 30 trading days. [USD of course; the trades on Toronto do count, but since they so closely track the exchange rate adjusted US listing price, the TSX price only figures in the volume].] The month of December is a lost cause re the consolidated average of course, so I'm hoping for that January will be our magic month in which we emerge successfully from the 'cure period'.
Note that the average is over the previous 30 trading days rather than the calendar month. That makes a big difference. The start of the 30 trading days period ending Friday Jan 29 is approximately Dec. 17 (I may not be getting the holiday close days correct). So we only have 2 or 3 days 'under $1.00 to counterbalance. I'm cautiously optimistic.
Here's the relevant rule, with my bold added to the key parts:
"The company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month."

I agree with JW that the rules are written with a lot of wiggle room, and Rob has share consolidation as the 'cure' if needed. I don't think it will be.


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From: wolfgangrene12/22/2015 11:58:23 AM
2 Recommendations   of 23829
We're sneaking up to the double top danger zone, 1.08.

If we're forced back, hopefully MUX does a MUSK and we land gently upright at .96 and our booster is reused for a shot to 1.37.

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From: labaguette12/22/2015 12:07:05 PM
1 Recommendation   of 23829
a perfect cup&handle ? mux:gdx

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To: wolfgangrene who wrote (14057)12/22/2015 12:38:16 PM
From: Must Be Patient
   of 23829
in C$ terms, MUX already has a clear breakout. Hopefully that is a harbinger of the US$ chart.

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To: Must Be Patient who wrote (14059)12/22/2015 1:46:23 PM
From: wolfgangrene
   of 23829
I'm not generally a big proponent of conspiracy theory, but we've seen gold spike out of upper downtrend lines, ever since the high, only to be smashed down against all normal probableTA movement.
Even with 1000 to 889 as an eventual bottom, upside possibilities have been artificially crushed and MUXs very large short positions have had no trouble backing it down when under a normal market it should have run much higher on the bounces. IMHO.

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