The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
This share price defies physics. Pro-rata we could have more money in the bank than the market value of the company over 12months at today's value. Is it elections, $ value, Gold price, mine location, BH, I do not know, but the company can improve the situation. They can in my view commence proceedings for a share buy back, even modest and turn this around. I am not selling my moderate holding because of physics, but we are very short on company support. The boards lack of action for shareholders compared to building the mine is a concern to me going forward.
Harry has just transferred a load of shares. Looks to be to a tax haven....just a guess. Anybody with a better idea??
KEFI Minerals (KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Democratic Republic of Ethiopia, was notified on 31 July 2018 by its Managing Director, Mr. Harry Anagnostaras-Adams that he has transferred 900,000 ordinary shares of 1.7 pence each ("Ordinary Shares") from Semarang Enterprises Ltd (a company of which Mr Anagnostaras-Adams is the sole director and sole shareholder) to the Adams Superannuation Fund for the benefit of his beneficiary account. The shares were transferred at a price of 2.28p per share today
https://www.zerohedge.com/news/2018-07-23/chinese-gold-market-still-driving-seat-0
One other thing, if the CFTC did prosecute those traders acting illegally it would highlight and identify the Fed interventions as those not prosecuted. Another trick I believe but cannot prove is the scrap metal figures are often cover in my view, for Central banks to introduce Gold into the system without it being seen or identified. The marriage season in India also starts in about 6 weeks and peaks from Oct to Dec so getting the price under control now is probably in their minds, does not matter how much real Gold is lost.
I read the article you posted. I could read the same article last week the week before and the month before that. What you are seeing is the FED, BOE and BIS managing the Gold price. Those levels of selling are illegal for a trader or group not that the authorities would actually do anything, but US bullion banks are exempt if agents of the FED. By US law the Treasury Secretary or his agent may act in any market without oversight. It used to apply to Gold only but was extended a few decades back to all markets if my memory serves. So gents get used to it and I do mean that in a friendly way. What you read was an entire months supply og Gold production including Russia and China sold in a day. What sickens me is that our historic enermies eg Russia and China pick up Gold from where ever at a discount to one day kick our arses because we cannot manage our finances, and our Politicians are unable to tell are countryman we cannot have everything we want and we must all be screened from financial failure. Be graeful you are not in Silver, last I looked and I am out of touch they used to trade a years supply a day and one day I recall it was 5 years......But my day will come..
TORONTO, ON, June 19, 2018 – Bunker Hill Mining Corp. (the “Company” or “Bunker”) (CSE:BNKR) is pleased to announce that it has entered into a loan and warrant agreement with an arms length investor for an unsecured convertible loan in the aggregate sum of US$1,500,000, bearing interest at 10% per annum, maturing in one year. Contemporaneously, the Company agreed to issue 2,294,835 share purchase warrants, entitling the lender to acquire 2,294,835 common shares of the Company, at a price of C$0.85 per share, for two years.
Convertible Debt Financing
Under the terms of the loan agreement, the lender may, at any time prior to maturity, convert any or all of the principal amount of the loan and accrued interest thereon, into common shares of Bunker at a price per share equal to $0.85.
In the event that a notice of conversion would result in the lender holding 10% or more of the Company’s issued and outstanding shares, then, in the alternative, and under certain circumstances, the Company would be required to pay cash to the lender in an amount equal $0.85 multiplied by the number of shares intended to be issued upon conversion. Further, in the event that the lender holds more than 5% of the issued and outstanding shares of the Company subsequent to the exercise of any of its convertible securities held under this placement, it shall have the right to appoint one director to the board of Bunker. Lastly, among other things, the loan agreement further provides that for as long as any amount is outstanding under the convertible loan, the investor retains a right of first refusal on any Bunker financing or joint venture/strategic partnership/disposal of assets.
The proceeds of the loan shall be used to pay the Company’s upcoming payment obligation to the United States Environmental Protection Agency, and for working capital
Just as a flavour I was lazy and got this from Harvey Organ.....not keen on him but this was an easy demonstrator. These are contracts sent to London for settlement. We only produce about 2500tons as Russia consumes its own production as does China. This assumes that all Gold goes via the COMEX but in reality it is only a fraction. The level of paper Gold traded is beyond belief against reality......but the control continues
ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE: 4,346.70* TONNES *SURPASSED ANNUAL PROD’N
ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018: 653.22 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018: 649.45 TONNES (20 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR MARCH 2018: 741.89 TONNES (22 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR APRIL 2018: 713.84 TONNES (21 TRADING DAYS)
ACCUMULATION OF GOLD EFP’S FOR MAY 2018: 693.80 TONNES ( 22 TRADING DAYS)
ACCUMULATION OF GOLD EFP FOR JUNE 2018 650.71 TONNES (21 TRADING DAYS)
I do not disagree with anything you say, my point is that as contracts can be settled in cash as per the conditions of the contract. If you pay up the outstanding amount you can ask for delivery, but cannot demand it. Most would view this as a default but strickly by the contract, it is not. I believe the game can go on much longer than peple think. Demanding delivery will cause problems, no doubt. I understand the premium offered in London is generally enough at present. Interestingly I am told it is illegal in USA hence it is referred to London. The real controller is China as they could break the markets by offering $100 over spot. You could buy in London and sell upon arrival in Shanghai. This would soon suck all registered gold. But while this Nirvana has not happened, the bullion banks, I think have more control, particularly as the market is so secret.
Somebody asked about my figure of 600 to 1 it is simply the number of contracts against the gold availble on the comex. They are published with a disclaimer!! by comex and several commentators repeat them. This is only the Comex. My point is Silver is a smaller market with larger exchanges of contracts. Whole annual production is exchanged daily, how can that relate to a real market. If Silver can be controlled Gold can for an unknown long period before it can force a re-rate. Just look at 2013ish when the price dropped from $1600 to $1200. BOE fed 1000tons plus into the market to satisfy demant and hold price down.....method two.....I do not follow as closely now,,, because whats the point at this level of manipulation...I am on holiday in the Cyprus mountains with poor internet...sorry late reply.
What you say is right under normal economics but the the banks can still buy and sell contracts. 5 years back it was about 80oz contracts to 1oz phyzz now anything up to 600 to 1 on Comex alone. Contracts used to be fulfilled on Comex now London as no phyzz. Silver is x5 to x10 these levels so why would it change.... if Silver can be controlled at these levels why not Gold. I would sure like it to change but I point out that it is not by any means a given while the West holds sway.
According to Ted Butler JPM have loaded up on contracts from other banks. They are in a position to make major money if the price makes a sizable rise which they can orchestrate. This does not mean they will but that they could!!
The problem with what you infer is that we had 45% interest in the last project yet we sell for the money they owe us!! Having percentages in other projects does not amount to much it appears. Totally agree we need the full story on this. I suspect the price would crater if they told us mind you. At least the board have ensured they are paid for a few years. I could clearly sell at a loss but this company should be moving forward instead of selling assets for buttons.
The turks are down the pub celebrating.
We remain in the dark as to what the issue is at the mine. Stratex clearly don't want to tell us which is very concerning going forward. Are our partners trustworthy, because it increases risk.