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The full CAPEX budget of US$171 million for La India is expected to be funded by #MTL's FY2026 free cashflow generated by Runruno. However, to avoid any potential disruption to development, $MTL has arranged a US$30m gold pre-pay facility and is seeking a US$20m equipment loan

https://x.com/i/status/2064259003455058214

Did anything happen around 13:30 today?

It appears, what ever it was, has affected the share price of several Au/Ag/Cu miners.

This is the important bit:

The visit enabled a detailed review of on-site progress as we remain on track for first gold pour in Q4 2026

https://x.com/i/status/2036026571320864957

Copper Price can only go up

https://youtu.be/sJY8l9_U5Yw

Bullion dealers, not billion dealers! :)

If only ... ...

Glint, or rather glintpay.com, uses a debit card and deducts the Gold from your account, with a small fee not unlike most billion dealers. I think they have added Silver to their system.

There's also another that has been advertised, I think, perhaps on GB News, but I do blank out adverts, so can't remember the name.

Doesn't the automatic unloading of contracts, by increasing the collateral on deposit, mean the delivery of Silver is avoided.

Isn't that a plus for those that cannot deliver, even though it realises losses.

Gold $5400

"... kept the gold in a safe deposit box at the bank"

That was when we had a bank in the high street! :)

In a world of increasing prices for commodities, a centrally controlled state run economy, run by PPE and History graduates with a complete lack of experience in Business, Markets, Supply Chain Management, and oblivious to the Laws of Physics (and Chemistry), will certainly be under a great deal of strain. 'Steady As She Goes' managers will be even more destructive than before, and confused.

So it's even more important that the many opportunities for innovation are pursued by the competent, and the successful rewarded, especially those that can apply Business and STEM expertise in the private sector. And, of course, those resistant to change need to be removed from positions of influence.

The obstacles to overcome will be the remnants of the old regime, like the country's debt, unfunded pensions, and the deteriorating infrastructure, but that is true, no matter what happens to commodity prices.

China needs Solar and Wind so their EVs can be powered by them and also by coal-fired power stations. It reduces the amount of Oil/Gas they need to import.

However, as the West has plenty of Oil/Gas supplies, plenty of Coal and Nuclear fuel, and there is no Climate Emergency, we don't need to pursue and enforce these wealth destroying climate policies. That would alleviate the Silver crisis, as well as releasing resources that could be directed into wealth creating activities. And we wouldn't be importing so much from China.

Still here too!

And wasn't it Harry Anagnostaras-Adams now at KEFI that used to run EMED? They were different times, very different indeed.

From wiki:

"In 1760, George III surrendered control over the [Crown]Estate's revenues to the Treasury, thus relieving him of the responsibility of paying for the costs of the civil service, defence costs, the national debt, and his own personal debts. In return, he received an annual grant known as the Civil List."

There's a similar arrangement with the Prince of Wales and the Duchy of Cornwall.

Buckingham Palace, Holyrood Palace and Windsor Castle belong to The Crown, while Balmoral and Sandringham belong to the king in a personal capacity. That's probably why they retire there on vacation. They're not in the office. I have heard that the King was thinking of not moving into Buckingham Palace, and to make room for more office space.

Sakura7, I don't think that a mine in the New Forest would have got the go-ahead in the first place.

But it's a similar situation in the UK, with much of the effort and resources originating abroad: remember Greta.

A metallurgical coal mine, needed to make steel, was cancelled after it was given the go-ahead:

https://www.standard.co.uk/news/politics/coal-mine-uk-whitehaven-high-court-friends-of-the-earth-government-michael-gove-b1181865.html

The Bowland Shale (across Lancashire, Lincolnshire, Yorkshire) has around 500 years of Methane for the UK so, even if we managed to extract only 10%, it would last 50 years, yet test drilling has been stopped, because of the danger to life threatening earthquakes. :) Yes, even the test drilling was stopped. Yet drilling for Geothermal Energy in Cornwall/Devon is allowed much more powerful tremors, and the radioactivity there isn't a problem (because it's a green project). Also the UK North Sea Oil/Gas Industry is being wound down, but we will still be able to buy it from Norway, next door! These inactions have meant Energy costs have escalated, and hit manufacturing jobs, as well as demoralised entrepreneurs, and Britain is much poorer for it. I would have thought this aspect has been ignored by the protesters.

I thought that when permission to mine had been given, all the local problems had been sorted, and agreed.

"... but what if the real reason for the kidnapping of Maduro was really to secure Venezuelan oil resources and protect the petrodollar status?

Which is the only reason the US dollar still retains its global reserve currency status."

Venezuela has very heavy oil, so they might as well use Alberta's oil. Not that that doesn't have its own political story.

The US dollar has already lost its unique status. It's still a reserve currency, because there's nothing suitable to replace it, apart from Gold. Know anyone that has any?

Here's a quote from the China Uncensored substack:

"The Trump administration did not capture and arrest Maduro because it wanted Venezuela’s oil. [It's very heavy oil.] Up until a few years ago, US companies had been heavily involved in Venezuela’s oil production, and that only stopped because of US sanctions. The real issue was Venezuela destabilizing the region and being a foothold in Latin America for countries like Iran, Cuba, Russia, and China."

It would also reduce the trade in Fentanyl and human trafficking, and help unravel the Smartmatic corruption. I don't think Nic is in the same league. And China isn't the unchanging monolith that appears in the Legacy Media, what with a property collapse and multiple changes in the military hierarchy. There's also the Silver shortage that will affect their solar panel and EV manufacturing. South America has plenty of Silver. The West, given that NET Zero policies are political not scientifically based, could just revert to ICE and Coal/Gas power stations, eventually. :)

DJT has also said he wants to let Venezuelans prosper. Let's hope that's true. It's logical, because if South America prospers, it would mean fewer problems for the US . It's probably why he bailed out Argentina, recently.

Too much is happening to to able to confidently predict this coming year but, having disrupted many of the foreign treasonous agencies abroad, the US should now be focusing on itself, like the fraud involving child care in Minnesota that was planned to spread across the country, involving billions of dollars. Yes, it's a scary world, but don't put everything in one scary category.

Unfortunately, (or may be fortunately) we are not at where the market action is being played out, and all we have are reports of the action. However, we can piece information from different sources and look for a general drift of the narrative.

Here's a more sober reflection of what is happening, the first 16 minutes gives a good overview:

https://youtu.be/nfB8NCRDq4g

The fact that it isn't as dramatic as has been pushed, and it ties in with known geopolitical moves, does give it more credibility. But who knows! :)

My academic studies, over 45 years ago, included a field trip with a small time-domain induced polarization survey. I don't remember much, apart from being careful: we were told the voltages used were much higher than the resistivity surveys. And I did survive.

https://en.wikipedia.org/wiki/Induced_polarization

Like so much Geophysics, results give guidance rather than absolute results, and are much more useful when accompanied by borehole evidence. Perhaps that's why the two 'poor' holes were drilled: to get a base line.

Here's one report, with Michelle Makori from Miles Franklin Media and Andy Schectman from Miles Franklin Precious Metals:

https://youtu.be/8yPTYZGxAV8

(At least 2:55 to 16:00)

It's certainly unusual activity, in unusual times.

As MTL enters Q4, we reflect on our successes so far this year:

https://x.com/MTLexploration/status/1975842186190020888?t=z6zye7JxSoyy1VjjOsWZ7Q&s=19