Sufiy.

Lithium Drive - Tesla Motors' Success Gives Electric Car Market a Charge

Wed, 22 May 2013 13:13:09 -0400

Tesla Model S success is the game changer for Electric Cars. Tesla Motors is flying high now and will return the loans to DOE after the equity raise. While everybody else is listening to the Shale Gas and Oil bonanza Chinese companies are busy grabbing lithium resources all over the world.

International Lithium Corp. Arranges Loan From Strategic Partner, Jiangxi Ganfeng Lithium Co. Ltd. ILC.v, TNR.v

Lithium Drive: Tesla Model s Surprising Success Consumer Reports’ Best Car Ever Tested

National Geographic:

Tesla Motors’ Success Gives Electric Car Market a Charge

Josie Garthwaite

for National Geographic

Published May 21, 2013

Tesla Motors, the Silicon Valley electric carmaker, is riding high. The company reported its first ever quarterly profit this month and saw its stock price shoot upwards of $97 per share—an all-time high. At more than $10 billion, the company’s market value is now greater than that of established automakers Fiat and Mitsubishi Motors.

And for icing on the cake, Tesla’s first made-from-scratch car, the electric Model S sedan, has received a rare near-perfect score from Consumer Reports. Noting the difficulty of starting a successful auto company, evoltven Bill Ford, the executive chairman of Ford Motor Co., commented, “My hat’s off to them.”

The company is preparing to take advantage of its popularity on Wall Street by raising an estimated $648 million by selling a combination of shares and debt-like securities, to be repaid in 2018. Tesla CEO Elon Musk is set to personally purchase $100 million of shares in the offering. Tesla will curry public favor by using part of the proceeds to prepay some of the $465 million U.S. government loan that helped establish manufacturing of the Model S.

Tesla’s upsurge comes at a time when a once-bursting field of EV start-ups is becoming littered with failed or sputtering ventures. Meanwhile, the established automakers have mixed sales results with their EVs, although customer satisfaction has been high. Nissan has seen accelerating sales of its Leaf after a slow start, with more than 62,000 of the EVs sold worldwide since 2010. For the Chevy Volt, a plug-in hybrid with a small gas engine that kicks in when its battery runs low on charge, sales of some 26,000 have not quite met General Motors’ expectations. The cold reality is that the electric car business is still a work in progress. GM has said it loses money on every Volt sold. And much of Tesla’s recent profit is due to California’s regulatory incentives, rather than the sale of automobiles.

More than any other company, Tesla has helped transform the popular image of electric cars as nerdy golf carts for do-gooder greens to something that can be fun and luxurious and packed with cutting-edge technology. It pioneered a new generation of electric cars. Whether Tesla can rally mainstream consumers to the world of electric mobility, however, remains to be seen.

A Winner and Losers

Tesla’s recent success marks a major achievement for the company and a rare moment in the history of automotive entrepreneurship. “Almost every other person who has tried to enter the automotive industry” for close to a century has failed, said Phil Gott, an automotive analyst for the research firm IHS.

Certainly the experience of other EV start-up companies bears out the challenges. Fisker Automotive, the recipient of roughly $1 billion in private investment and $192 million in public funds, sold only about 2,000 of its plug-in hybrid luxury Karmas (priced from $102,000) before suspending manufacturing last year. The U.S. Department of Energy has pulled the plug on the rest of the half-billion-dollar loan originally awarded to Fisker in support of a plug-in hybrid sedan that never made it past prototyping. And Coda Holdings, parent company of the Southern California-based startup that set out to build affordable electric cars on a platform from China’s Hafei Motor Co, has filed for bankruptcy after selling fewer than 100 cars and racking up $100 million in debt.

Would-be suppliers of batteries to these and other electric carmakers have fallen along the way. Fisker’s battery supplier A123 Systems entered bankruptcy last year, as did Ener1, battery supplier and investor in a failed electric city-car effort by Norway’s Think Global.

Tesla, too, has seen hard times. In its ten-year history, the company has experienced product delays, lawsuits, battery and transmission troubles, and coffers so low that it took a hefty portion of billionaire CEO Elon Musk’s personal wealth to keep it afloat in 2008. ”Just want to say thanks to customers & investors that took a chance on Tesla through the long, dark night,” Musk tweeted last week. “We wouldn’t be here without you.”

Tesla, it’s fair to say, has leveled up. The company is now at the point of building cars in its own facilities from the bottom up, thousands of them each month. Based on monthly sales data, the advocacy group Plug In America expects the generation of highway-capable plug-ins born in the last two years to reach 100,000 vehicles sold by the end of May. More than 7,500 of those are Model S sedans, which sell for about $70,000 to $100,000, depending on the size of the battery and options.

Mass Market and Upmarket

Nearly every major automaker has a pure electric model on the road or soon to launch. Many of them are derived from conventional models like the Chevy Spark, Honda Fit, and Fiat 500, and several will initially sell in limited numbers in only one or a few markets—most notably California, where large automakers are required to sell zero-emission vehicles. Others have aimed for a broader swath of the market. Nissan moved early on to sell its Leaf nationwide, and adoption has begun to accelerate beyond the historical EV capital on the West Coast, and the electric version of the Ford Focus now sells in 48 states.

Distinguishing itself from this pack, Tesla from the start cultivated an aspirational brand, modeling its retail experience after Apple’s sleek stores and targeting elite customers who would drop six figures on an electronic gadget with a green aura. The company’s inaugural model, the Tesla Roadster, wasn’t for everyone (the tall or weak of budget, to start) or every purpose (no dice if you want to haul all the gear for band practice), but it looked sleek and drove like a dream.

To a wealthy and tech-savvy niche group, it was perfect. “For that target audience, the more exclusive, the more expensive, the more exotic, the better,” said Gott, senior director of long range planning for IHS Automotive. Sure, the Roadster was more expensive than the Lotus Elise body it was based upon, but it was unique. “Cocktail conversation” about the Tesla technology and VIP quality of service, Gott said, was part of the attraction of owning one.

Analysts say that Coda and Fisker erred in opposite directions: one was too superficial, the other was not superficial enough. ”Fisker’s biggest mistake was thinking that design was everything,” said Michael Omotoso, senior manager of global power train for the research firm LMC Automotive in Troy, Michigan. The Fisker Karma is a great-looking car that drew Justin Bieber and Leonardo DiCaprio among its earliest adopters. But it had serious flaws, including unimpressive fuel economy relative to other plug-ins, too much weight, and a price point above even luxury hybrids that wealthy buyers might consider as alternatives, such as the Mercedes-Benz S Class or Cadillac Escalade hybrids.

In contrast, Coda aimed early on to provide an electric version of the most basic sedan. The practical look and good-enough performance became a tough sell, however, as the company’s costs and price estimates swelled. Once expected to sell for about $30,000, the Coda Sedan ultimately debuted at roughly $45,000. Whereas Tesla and Fisker marketed Louboutin-like luxury style and charged accordingly, Coda put out a generic look and charged designer prices.

After multiple delays during years in which the options available to EV shoppers in the United States grew from a solitary highway-capable model (the Roadster) to around ten in 2013, the Coda launch simply offered too little too late. The car ranks dead last in efficiency among all pure electric vehicles in the 2013 model year, racking up an estimated $850 in electricity costs each year. That’s pretty good compared to top-selling conventional sedans like the Honda Accord, but not compared to the $500 annual fuel costs estimated for the Nissan Leaf, Fiat 500e, and Honda Fit EV, and Scion iQ EV—all of which carry a well-known car company’s brand and warranty. To make matters worse, in the midst of its bankruptcy proceedings, Coda now has a “potential safety issue” on its hands and must issue a recall. Regulators have reportedly found in crash testing that side curtain airbags in the sedan “did not deploy as intended upon impact.”

Aside from starting at the high end, Tesla also developed other streams of revenue in addition to building and selling cars. The company formed key partnerships with well-known automakers, including Mercedes-Benz and its parent company, Daimler, as well as Toyota. In the first three months of this year, Tesla reported $7 million in revenue from development services. Another $68 million, or roughly one in every eight dollars of revenue during the quarter, came from selling credits earned under California’s zero emission vehicles (ZEV) program. About $17 million came from sales of “other regulatory credits.”

But these credits are more of a bridge to a bigger vision than a lasting pillar of Tesla’s business. “Right now, their profits come from selling EV credits to other companies,” said Omotoso. “They need to start making money by selling cars.” As Tesla recognized in its latest report to shareholders, ZEV credit prices are falling as more automakers come out with qualifying vehicles, and international sales are worth less in the ZEV credit market than U.S. sales. So as Tesla pursues global ambitions, the company expects the portion of its revenue coming from ZEV credits to decline.

Next in the pipeline from Tesla is an electric crossover called the Model X, which, after some delay, the company plans to roll out in late 2014, likely with a lower price tag than the Model S. Sales of this third-generation model “should help,” said Omotoso, because one model is simply not enough to sustain a company for the long term. ”The Model S is hot right now, but it will eventually cool off like all hot models. Then what?” he said. “Once the small group of wealthy, image- and environmentally conscious buyers have been satisfied, they have nowhere to go until they come out with another model.” Based on the limited pool of buyers who can both afford the Model S and who want an alternative-fuel vehicle, he said Model S sales may already be close to peaking at an estimated 20,000 units in 2013.

As many gauntlets as Tesla has run so far, the company’s biggest challenges may still lie ahead. The temptation to go too big, too fast—to think, “Gee, if I can make this much money selling hundreds of cars, think how much more I can make selling millions”—is a dangerous one, Gott said. It will take time for battery technology to advance to the point where is possible to sell a “no-compromise” electric car capable of driving hundreds of miles between charges at a competitive price point.

Electric cars today can meet many, if not most day-to-day mobility needs. They can spare drivers pain at the pump, and Tesla is building out a network of fast-charging stations for extra assurance and convenience on the road. But gasoline remains the default choice for most car buyers, and switching to electricity still requires some new habits and a different mindset. ”Most customers don’t buy technology. They buy utility, convenience, low-operating costs, style,” said Gott. If Tesla’s business plan anticipates and keeps pace with the evolution of batteries, he said, and “if Tesla can walk that tight rope without over-investing and losing money before the market is ready, they will succeed.”

This story is part of a special series that explores energy issues. For more, visitThe Great Energy Challenge.”

TNR Gold - McEwen Shifts Course At El Gallo II And Runs Up 19% Following Gold. MUX, TNR.v

Mon, 20 May 2013 18:16:30 -0400

This new move by Rob McEwen can be very positive for the company and means that now Los Azules will not be up for the fire sale just to finance the El Galo II and the proper bids for the projects will be welcomed by end of Q2. El Galo II can now be developed without throwing out the Los Azules to the first buyer coming alone. PEA is due in Q3 and we can have dramatically different markets by then as well.

In the big economic picture Yen was rising against the US dollar from overnight and, as we have twitted before - Watch The Gold Now. Gold has it fireworks today and is UP 35 dollars or 2.6%. Over-shorted stocks like McEwen Mining do not need a second reminder about the explosive nature of Junior Mining - company is on fire today with 5.5 million shares traded only in US (Canada was closed today) and is UP 18.9% to 2.33 dollars. Tomorrow will be interesting day with Canadian markets open - we need the follow through action now with Gold and Miners to confirm the April Gold Low.

Meanwhile TNR Gold insiders continue to accumulate:

As of 11:59pm ET May 19th, 2013Filing
DateTransaction
DateInsider NameOwnership
TypeSecuritiesNature of transaction# or value acquired or disposed ofPriceMay 17/13May 17/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market39,000$0.050May 17/13May 16/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market27,000$0.060May 17/13May 15/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market8,000$0.060May 17/13May 14/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market176,000$0.060May 17/13May 13/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market29,000$0.060May 17/13May 13/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market221,000$0.055Apr 24/13Apr 19/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market250,000$0.070Apr 17/13Apr 16/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market33,000$0.070Apr 17/13Apr 15/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market50,000$0.070Apr 17/13Apr 12/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market28,000$0.070

McEwen Mining:

Links to AGM Videos.

McEwen Mining Announces Plans to Expand Production at El Gallo 1 Mine in Mexico

“El Gallo 2 Alternative: Evaluating potential to ship ore from El Gallo 2 to El Gallo 1, using current heap leaching facilities. Review will focus on silver recoveries (early column tests returned between 45-62% silver) and crushing/processing costs. If successful, this would eliminate approximately $170 million in capital expenditures.”

TNR Gold Corp. Advises of McEwen Mining’s Increased Resource Estimate for Los Azules Copper Project TNR.v, MUX

TNR Gold - McEwen Mining’s Los Azules Copper Project Continues to Grow! MUX, TNR.v

“Los Azules is a large undeveloped copper porphyry system located in western San Juan Provincewithin a belt of porphyry copper deposits that straddles the Chilean/Argentine border. This belt contains some of the world’s largest copper deposits, including Codelco’s El Teniente and Andinamines, Anglo American’s Los Bronces mine, Antofagasta PLC’s Los Pelambres mine and Xstrata’sEl Pachón project, among others. Los Azules is one of the world’s largest, highest grade, undeveloped copper-porphyry deposits not owned by a major base metals company.”

TNR Gold - McEwen Mining: Drilling Expands New Central Zone at El Gallo 1 Mine MUX, TNR.v

TNR Gold: McEwen reckons gold stocks will rise in 2013 MUX, TNR.v

”Action with McEwen Mining was quite interesting this week and, particularly, on Friday. Stock has refused to follow the Gold that day and stubbornly was climbing higher all day. Rob McEwen was making some of his magic on Thursday at the conference call after the Q1 update and McEwen Mining Shareholders meeting will be taken place next week. Chief Owner has promised release from one of the exploration program before it and Los Azules new resource estimate is due by the end of May. According to his facebook page, Rob was on the road last few weeks talking to numerous Investment Banks…”

TNR Gold - McEwen Mining: “Los Azules Copper final bids are due late Q2” MUX, TNR.v

“Now you can slice and dice it: what will be the price for Los Azules and what will be the effect on McEwen Mining and, particularly, TNR Gold valuations and market caps. All slides are from McEwen Mining presentations.”

PI Financial Corp. Engaged as Financial Advisor for Sale of TNR Gold’s Back-in Right to the Los Azules Copper Project, Argentina TNR.v, MUX

Mineweb:

McEwen shifts course at El Gallo II - expansion on

the cheap?

McEwen Mining outlines a possible third path for its El Gallo II silver-gold mine in Mexico.

Author: Kip Keen
Posted: Friday , 17 May 2013

HALIFAX, NS (MINEWEB) -

McEwen Mining (NYSE: MUX) had said it is considering what to do with its El Gallo II silver-gold project in Mexico - specifically, how to finance the estimated $170 million capital cost or optimize the project’s scope to something within its means. Failing here, El Gallo II would certainly head to McEwen Mining’s back burner.

The main hurdles for McEwen Mining are this: it doesn’t have enough cash to build it on its own and financing markets are tough. Meantime, gold and silver prices continue to fall. Thus, in a conference call last week, McEwen Mining President and CEO Rob McEwen said that although the project was still moving ahead, with permitting in the works, construction might not start later this year as it has hoped.

Making deferral seem all the more possible was the uncertain future of McEwen Mining’s Los Azules copper-gold project in Argentina, now on the auction block. While McEwen hasn’t capitulated in the search for a buyer for Los Azules, he sounded pragmatic about the ongoing sale process: There’s interest, but a crowd isn’t swelling at the door.

In part, the problem here is that the appetite for undeveloped mega copper-gold projects is somewhat tepid and meantime there’s a glut of assets, some operating, up for sale. Thus juniors with large undeveloped copper-gold deposits for sale face stiff competition.

But a third path at El Gallo II may keep the project alive - neither deferral nor the $170 million Plan A. You might call it the mother of all mine optimization plans.

El Gallo II was, as outlined in a feasibility study late last year, to be a 5,000 tonne per day open-pit operation with milling and whole-ore leaching. It would exploit 38 million silver @ 101.3 g/t Ag and 46,102 ounces gold @ 0.12 g/t Au in reserves.

But in an update today McEwen Mining said it might forego a standalone operation completely, with a processing plant and whole ore leaching, and instead ship El Gallo II ore to El Gallo I, McEwen Mining’s operating heap-leach gold-silver mine about five kilometres away

The benefit of doing so comes down to a trade-off. Far less capital costs - expansion rather than new building - in exchange for what would likely be far lower recoveries. In the El Gallo II feasibility study last year McEwen Mining estimated it could get 84 percent silver and 83 percent gold recoveries in a standalone El Gallo II operation with whole-ore leaching.

However, put the same ore, trucked and crushed, on a leach pad at El Gallo I and the silver recoveries, based on McEwen Mining’s metallurgical testing, could drop by about a third to half that of standalone El Gallo II. McEwen stated that “early column tests returned between 45-62 percent silver.”

Thus El Gallo II - Los Azules sale or no - and terrible financing markets be damned - could still become a reality. For McEwen Mining the key question now becomes: Is the trade-off worth it?”

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.

We Do Not own any content in the third parties’ articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.

TNR Gold Corp. Advises of McEwen Mining's Increased Resource Estimate for Los Azules Copper Project TNR.v, MUX

Mon, 20 May 2013 18:15:26 -0400

TNR Gold - McEwen Mining’s Los Azules Copper Project Continues to Grow! MUX, TNR.v

TNR Gold - McEwen Mining: Drilling Expands New Central Zone at El Gallo 1 Mine MUX, TNR.v

TNR Gold: McEwen reckons gold stocks will rise in 2013 MUX, TNR.v

TNR Gold - McEwen Mining: “Los Azules Copper final bids are due late Q2” MUX, TNR.v

PI Financial Corp. Engaged as Financial Advisor for Sale of TNR Gold’s Back-in Right to the Los Azules Copper Project, Argentina TNR.v, MUX

May 16, 2013

TNR Gold Corp. Advises of McEwen Mining’s Increased Resource Estimate for Los Azules Copper Project

Vancouver B.C., May 16, 2013: TNR Gold Corp. (the “Company” or “TNR”) advises that McEwen Mining Inc. (NYSE:MUX, TSX:MUX) (“McEwen Mining”) has issued a news release dated May 15, 2013 in relation to the Los Azules Copper Project in San Juan Province, Argentina. TNR holds a 25% back-in right, exercisable upon the completion of a feasibility study, on the northern part of the Los Azules property.

The news release issued by McEwen Mining summarizes an updated mineral resource estimate completed on the property. In their press release McEwen Mining states, “Key developments include the successful conversion of inferred resources into the indicated category while increasing the size of the resource. The resource remains open along strike, to depth, and laterally.” The news release is available at SEDAR http://www.sedar.com and on http://www.mcewenmining.com. TNR encourages its shareholders to read the press release issued by McEwen Mining to gain a better understanding of the work performed and the potential impacts this will have on the project. McEwen Mining has also stated that an updated preliminary economic assessment (“PEA”) will be completed later this year that will utilize the expanded resource and “will evaluate the possibility of: (1) increasing the daily throughput; (2) producing copper cathode instead of a concentrate and (3) processing low-grade mineralized material not previously considered, via a heap leach”.

McEwen Mining’s press release appears to be prepared by Qualified Persons and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR Gold Corp. has done sufficient work to analyze, interpret, classify or verify McEwen Mining’s information to determine the current mineral reserve or resource or other information referred to in the press release. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.

ABOUT LOS AZULES

The Company has a 25% back-in right in the northern portion of the Los Azules property which is exercisable following the completion of a feasibility study. If the Company elects to back-in for 5% or less or has its interest diluted to 5% or less, TNR will receive a net smelter royalty of 0.6% from the Northern Portion.

The Los Azules copper deposit is located in the San Juan province of Argentina. McEwen Mining Inc. is the current operator on the Los Azules copper deposit and the Company has previously advised that on March 13 and March 28, 2013, McEwen Mining Inc. issued press releases in relation to the deposit, which are accessible on Sedar at http://www.sedar.com and on McEwen Mining Inc’s website at http://mcewenmining.com.

ABOUT TNR GOLD CORP

Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company’s expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

TNR is also a major shareholder of International Lithium Corp. (TSX:ILC.V) (“ILC”), a company created by TNR to advance its internationally acquired lithium prospects. TNR currently holds about 25.5% of the outstanding shares of ILC.

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina and is committ ed to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

John Harrop, PGeo, FGS, is a “Qualified Person” as defined under NI 43-101 and has reviewed and approved the technical content of this news release.

For further details please see our website at http://www.tnrgoldcorp.com/s/NewsReleases.asp

On behalf of the board,

Gary Schellenberg

President”

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

TNR Gold - McEwen Mining's Los Azules Copper Project Continues to Grow! MUX, TNR.v

Wed, 15 May 2013 11:38:07 -0400

TNR Gold - McEwen Mining: Drilling Expands New Central Zone at El Gallo 1 Mine MUX, TNR.v

TNR Gold: McEwen reckons gold stocks will rise in 2013 MUX, TNR.v

TNR Gold - McEwen Mining: “Los Azules Copper final bids are due late Q2” MUX, TNR.v

PI Financial Corp. Engaged as Financial Advisor for Sale of TNR Gold’s Back-in Right to the Los Azules Copper Project, Argentina TNR.v, MUX

McEwen Mining:

McEwen Mining’s Los Azules Copper Project Continues to Grow!

05/15/2013

Download this Press Release (PDF 1.25 MB)

TORONTO, ONTARIO—(Marketwired - May 15, 2013) - McEwen Mining Inc. (NYSE:MUX)(TSX:MUX) is pleased to announce an updated, Canadian National Instrument 43-101 compliant (“NI 43-101”) mineral resource estimate for its 100% owned Los Azules Copper Project in San Juan Province, Argentina. Key developments include the successful conversion of inferred resources into the indicated category while increasing the size of the resource. The resource remains open along strike, to depth, and laterally. Los Azules ranks as one of the world’s largest, undeveloped, high-grade, open pit copper projects, and appears to have significant growth potential.

Table 1. Los Azules Copper Project - Comparison of Previous and Current Mineral Resource Estimates

June 2012 Resource Estimate UpdateMay 2013 Resource Estimate Update% ChangeCut-off
Grade
(Cu%)Tonnage
(million
tonnes)Cu
Grade
(%)Cu lbs
(billions)Tonnage
(million
tonnes)Cu
Grade
(%)Cu lbs
(billions)Contained
Cu lbsIndicated Resource0.353230.654.63890.635.4+17%Inferred Resource0.359480.5210.81,3970.4614.3+32%*Details for gold and silver resources are included in Table 2.

“This Resource Estimate Update marks the completion of our most successful drilling season at Los Azules. We discovered a new parallel zone to the west and significantly increased the Indicated Resource and Inferred Resource Estimates. Congratulations are in order to our exploration team in Argentina who set a record for the number of pounds discovered at Los Azules in one drill season,”stated Rob McEwen , Chief Owner.

This season’s exploration effort focused on expanding the resource base. A total of 15,800 meters of drilling was completed which produced a 17% increase in contained copper in the Indicated Resource category, to 5.4 billion lbs of copper and a 32% increase in contained copper in the Inferred Resource category, to 14.3 billion lbs of copper, since the June 2012 estimate of mineral resources. On February 5, 2013, we released an interim, mid-season resource update (to view click here). Table 1 shows a comparison of the new (May 2013) resource with the resource estimated at the end of last year’s drilling program (June 2012).

This updated resource estimate will form the basis of a new Preliminary Economic Assessment (PEA), which is expected to be completed in the third quarter of 2013. This PEA will evaluate the possibility of: (1) increasing the daily throughput; (2) producing copper cathode instead of a concentrate and (3) processing low-grade mineralized material not previously considered, via a heap leach.

The advantages of being able to produce a copper cathode rather than a copper concentrate is two fold: First, it would eliminate the capital intensive, concentrate pipeline through Chile; and second, it would reduce the applicable export tax by 50%.

About Los Azules

Los Azules is a large undeveloped copper porphyry system located in western San Juan Provincewithin a belt of porphyry copper deposits that straddles the Chilean/Argentine border. This belt contains some of the world’s largest copper deposits, including Codelco’s El Teniente and Andinamines, Anglo American’s Los Bronces mine, Antofagasta PLC’s Los Pelambres mine and Xstrata’sEl Pachón project, among others. Los Azules is one of the world’s largest, highest grade, undeveloped copper-porphyry deposits not owned by a major base metals company.

Table 2. Los Azules Mineral Resource Estimate

In order to exhibit reasonable prospects for economic viability, the mineral resource estimate has been contained within a conceptual open pit shell generated using general technical and economic parameters that are defined at the end of this news release. For comparison purposes, resources are listed at a series of cut-off grades in Table 2. The Base Case cut-off grade of 0.35% Cu is highlighted in the table below.

Cut-off
Grade
(Cu%)Tonnage
(million
tonnes)Cu
Grade
(%)Cu
lbs
(billions)Au
Grade
(grams
per
tonne)Au
Oz
(millions)Ag
Grade
(grams
per
tonne)Ag
Oz
(millions)Indicated Resource0.156270.496.740.061.131.734.90.205840.516.570.061.081.832.80.255230.546.270.061.021.829.70.304500.595.830.060.921.825.90.353890.635.390.070.841.822.90.403380.674.970.070.761.920.20.452930.704.550.070.681.917.70.502530.744.130.070.601.915.50.552170.783.720.070.521.913.40.601840.813.290.080.451.911.30.651510.852.840.080.381.99.20.701200.902.380.080.301.97.2Inferred Resource0.154,1410.3229.470.056.021.6214.30.203,5830.3527.320.055.431.7190.10.252,7850.3823.360.054.461.7154.90.302,0160.4218.720.053.461.8118.00.351,3970.4614.300.062.581.985.80.409100.5110.300.061.792.058.50.455760.577.180.061.202.138.10.503600.624.930.070.792.124.10.552330.683.470.070.542.115.80.601570.732.520.080.392.110.80.651100.771.870.080.282.27.70.70760.811.360.080.202.25.5* “Tonnes” is stated in metric and is equivalent to 2205 lbs.** Estimated contained metal values may be subject to rounding errors.

Details on the parameters of the resource estimate are as follows:

The resource estimate is based on data from 185 drill holes comprising a total length of 59,518 meters of drilling completed to the end of March 2013.
There were a total of 27,688 individual samples selected for analysis. The samples were collected and analyzed in accordance with industry standards. Splits from the drill core samples were submitted to either Alex Stewart in Mendoza or ALS Chemex or ACME inSantiago, Chile for fire assay and ICP analysis. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays.
The May 2013 mineral resource estimate for the Los Azules Copper Project was prepared under the direction of Robert Sim P.Geo . of SIM Geological Inc. The mineral resource estimate uses drill hole sample assay results and the interpretation of a geologic model that relates to the spatial distribution of copper in the deposit. Interpolation characteristics were defined based on the geology, drill hole spacing and geostatistical analysis of the data. Block grade estimates were done using Ordinary Kriging (OK) with a nominal block size measuring 20 meters long, 20 meters wide and 15 meters high. Resources are classified according to their proximity to sample data locations and are reported, as required under NI 43-101, according to the CIM Definition Standards for Mineral Resources and Mineral Reserves.
Mineral resources, which are not mineral reserves, do not have demonstrated economic viability.
The quantity and grade of reported Inferred resources are uncertain in nature and there has been insufficient exploration to classify these inferred resources as Indicated or Measured, and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured category.
As required under NI 43-101, reasonable prospects for economic viability of the mineral resources has been exhibited by the application of a resource limiting pit shell built about copper grades in the model using a projected metal price of US$2.75 per lb. Cu, mining costs of US$1.00 per tonne, milling and G&A costs of US$4.25 per tonne, 100% recoveries and an average pit slope of 34 degrees.

About McEwen Mining ( www.mcewenmining.com )

The goal of McEwen Mining is to qualify for inclusion in the S&P 500 by creating a profitable, mid-tier gold producer focused in the Americas. McEwen Mining’s principal assets consist of the San José Mine in Santa Cruz, Argentina (49% interest); the El Gallo Complex in Sinaloa, Mexico; theGold Bar Project in Nevada, US and the Los Azules Project in San Juan, Argentina.

McEwen Mining has 297 million (common + exchangeable) shares issued and outstanding. Rob McEwen , Chairman, President and Chief Owner, owns approximately 25% of the shares of the Company. As of April 29, 2013, McEwen Mining had cash and liquid assets of approximatelyUS$50 million, remains debt free, and is listed on the New York and Toronto stock exchanges.

Technical Information

Robert Sim , P.Geo., a Qualified Person and independent of McEwen Mining as defined by National Instrument 43-101 (“NI 43-101”) has reviewed and approved the technical content of this news release related to the mineral resource estimate presented herein. Bruce Davis , PhD, FAusIMM, who is a Qualified Person and independent of McEwen Mining, as defined by NI 43-101 and responsible for the quality control for the assaying of the Los Azules drill core has reviewed the assay quality control information. All samples were collected in accordance with industry standards. Splits from the drill core samples were submitted to the ACME sample preparation laboratory in Mendoza, Argentina, and then transferred to ACME’s laboratory inSantiago, Chile for fire assay and ICP analysis. Accuracy of results is tested through the systematic inclusion of standards, blanks and check assays. The mineral resource estimate referenced in this press release was prepared in April and May 2013 by Robert Sim , P.Geo. andBruce Davis , PhD, FAusIMM.

For additional information about June 2012 resource estimate and the Los Azules project generally see the Technical Report titled “Los Azules Porphyry Copper Project, San Juan Province, Argentina” dated August 1, 2012, with an effective date of June 15, 2012, prepared byD. Ernest Winkler , P.Eng., Robert Sim , P.Geo., Bruce Davis , PhD, FAusIMM and James K. Duff , P.Geo., all of whom are qualified persons and all of whom are independent of McEwen Mining, each as defined by NI 43-101. The foregoing report is available under the Corporation’s profile on SEDAR (www.sedar.com).

Cautionary Note to U.S. Investors

McEwen Mining reports its resource estimates in accordance with standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 (“NI 43-101”). These standards are different from the standards generally permitted in reports filed with the SEC. Under NI 43-101, McEwen Mining reports measured, indicated and inferred resources, measurements which are generally not permitted in filings made with the SEC. According to Canadian NI 43-101 criteria, the estimation of measured resources and indicated resources involve greater uncertainty as to their economic feasibility than the estimation of proven and probable reserves. Under SEC Industry Guide 7 criteria, measured, indicated and inferred resources are considered Mineralized Material. The SEC considers that in addition to greater uncertainty as to the economic feasibility of Mineralized Material compared to proven and probable reserves, there is also greater uncertainty as to the existence of Mineralized Material. U.S. investors are cautioned not to assume that measured or indicated resources will be converted into economically mineable reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources.

Caution Concerning Forward-Looking Statements

This news release contains certain forward-looking statements and information, including “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.’s (the “Company”) estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and other filings with the Securities and Exchange Commission, under the caption “Risk Factors”, for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management ofMcEwen Mining Inc.

Contact Information:

McEwen Mining Inc.
Jenya Meshcheryakova
Investor Relations
(647) 258-0395 ext 410 or Toll Free: (866) 441-0690
(647) 258-0408 (FAX)

McEwen Mining Inc.
Mailing Address
181 Bay Street Suite 4750
Toronto, ON M5J 2T3
PO box 792
info@mcewenmining.com

Facebook: www.facebook.com/mcewenrob
Twitter: www.twitter.com/mcewenmining
Store: www.mcewenmining.com/store”

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

FT: Graphene sees growing investor opportunities - Lomiko Metals LMR.v

Tue, 14 May 2013 15:16:31 -0400

Lomiko Metals has made its way up to the FT article on graphene: company has a lot of potential, but capital will be needed for the next step. With all that interest to the graphite and graphene now, to raise announced 500,000 should not be a problem and we are looking forward to this confirmation. Now talk is very cheap in the junior mining market and only solid backers can make the future for any company.

Strong strategic partner with deep pockets can make all the difference here.

LOMIKO ADDS GRAPHENE EXPERTS DR. POLYAKOVA AND DR. STOLYAROV TO ADVSIORY BOARD

BNN: Lomiko’s Game-Changing Graphite Deal LMR.v

“Lomiko Metals was on fire last week and we have the Volume Buy signal now - will the company be able finally to defy the gravitation of “the dead junior market” remains to be seen, but the Company has the goods now and it is building the buzz around its very interesting Graphene opportunity. Few latest presentations by Lomiko Metals CEO Paul Gill will help you to dig into this story. BNN will put this company under the spot light and we like to see in the latest News Release that company is looking for the Strategic Investor for its vertically integrated Graphite and Graphene business model.”

Lomiko Metals gains after test results confirm 100% carbon purity at graphite property LMR.v

“Now Lomiko Metals has the goods to deliver for its Graphite and Graphene Investors. Strategic Investor with the deep pocket to develop the property will be ideally the next step to reposition this company to the different valuation league. Results from the property speak for themselves this time and market takes notice.”

FT:

Graphene sees growing investor opportunities

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

TNR Gold - McEwen Mining: Drilling Expands New Central Zone at El Gallo 1 Mine MUX, TNR.v

Tue, 14 May 2013 13:18:37 -0400

TNR Gold: McEwen reckons gold stocks will rise in 2013 MUX, TNR.v

TNR Gold - McEwen Mining: “Los Azules Copper final bids are due late Q2” MUX, TNR.v

McEwen Mining:

Drilling Expands New Central Zone at El Gallo 1 Mine

05/14/2013

Download this Press Release (PDF 2.71 MB)

TORONTO, ONTARIO—(Marketwired - May 14, 2013) - McEwen Mining Inc. (NYSE:MUX)(TSX:MUX) announces that follow-up core holes at the new Central Zone have expanded the gold mineralization in several directions. Central is located inside the Company’s El Gallo 1 mine inSinaloa, Mexico (Fig. 1). It is situated between two known resources, where mining began onApril 1st (Fig. 2). Based on the results in this news release plus prior holes, there appears to be good potential to mine the area as one enlarged open pit rather than as two separate pits.

Table 1. El Gallo 1 Mine - Central Zone Drill HighlightsDrill holeFrom
(m)To
(m)Thickness
(m)Gold Grade
(GPT)Target TypeObjectiveMLX079161.6181.820.22.7Open PitExtended at DepthIncluding166.5167.61.118.0MLX081117.4140.323.05.7Open PitExtended AlongIncluding118.2120.11.950.0StrikeIncluding129.1130.51.514.4MLX08273.194.321.22.5Open PitInfillIncluding90.093.93.99.5Including90.091.01.017.5MLX087171.8181.09.32.5Open PitExpanded at DepthIncluding171.8173.11.314.0MLX088171.5185.514.04.6Open PitExpanded at DepthIncluding174.7178.74.011.7MLX09082.4103.320.93.9Open PitExtended AlongIncluding90.192.12.012.2StrikeIncluding100.8101.60.826.5

Drilling in this release was focused on 3 objectives: 1) extending the zone at depth, 2) extending the strike or length of the zone and 3) infilling an area between the historical near-surface drilling and McEwen Mining’s discovery holes.

1) Drilling Extends Central Zone at Depth - 4.6 gpt gold over 14.0 meters

Holes MLX079, MLX087 and MLX088 targeted mineralization below the initial discovery holes announced on April 11^th, 2013 (Fig. 2, 3 & 4). These new holes successfully extended the zone by 50 meters to a total depth of 180 meters below surface. The zone remains open for further expansion. Significant intercepts include 2.7 gpt gold over 20.2 meters, 2.5 gpt gold over 9.3 meters and 4.6 gpt gold over 14.0 meters. An additional 3 holes have been drilled to extend the zone, with assays pending.

2) Strike (or length of the zone) Extended - 5.7 gpt gold over 23.0 meters

Holes MLX081, MLX085 and MLX090 were drilled southwest and northeast of the initial discovery holes, extending the strike or length of the zone by 30 meters to the northeast and 20 meters to the southwest (Fig. 2). Before drilling began at Central, the distance between the two resources where mining recently commenced was 1,000 meters. Based on these results and prior holes, the Company believes the area can be mined as one enlarged open pit. Highlights from this drilling included 5.7 gpt gold over 23.0 meters, 1.1 gpt gold over 20.5 meters and 3.9 gpt gold over 20.9 meters. An additional 6 holes have been drilled with assays pending.

3) Infilling Gaps & Reducing Strip - 2.5 gpt over 21.2 meters

The last objective with the recent holes was to infill an area between the historic, near surface drilling that tested for gold mineralization down to 20 meters (which encountered weak mineralization) and McEwen Mining’s discovery holes, which start 80 meters below surface (Fig. 2, 3 & 4). The three holes from this area were in line with expectations, returning 2.5 gpt gold over 21.2 meters, 1.8 gpt over 12.1 meters and 0.8 gpt gold over 18.7 meters (Fig. 2, 3 & 4). This is an encouraging development as it shows the zone can be extended closer to surface, which should reduce the strip ratio. An additional 2 holes have been drilled with assays pending.

About El Gallo Complex

The El Gallo Complex is located in Sinaloa, Mexico. Phase 1 achieved commercial production in early January. It is forecasted to produce 30,000 ounces of gold per year. Phase 2, where a feasibility study was completed in 2012, is forecasted to add an additional 5,200,000 ounces of silver (105,000 ounces of gold equivalent) once in production. Combined, both phases are scheduled to produce approximately 135,000 ounces of gold equivalent annually.

About McEwen Mining ( www.mcewenmining.com )

The goal of McEwen Mining is to qualify for inclusion in the S&P 500 by 2015 by creating a profitable gold producer focused in the Americas. McEwen Mining’s principal assets consist of the San José mine in Santa Cruz, Argentina (49% interest); the El Gallo Complex in Sinaloa, Mexico; the Gold Bar project in Nevada, US; the Los Azules project in San Juan, Argentina and a large portfolio of exploration properties in Argentina, Mexico and Nevada.

McEwen Mining has 297 million shares issued and outstanding. Rob McEwen , Chairman, President and Chief Owner, owns 25% of the shares of the Company (assuming all outstanding Exchangeable Shares are exchanged for an equivalent amount of Common Shares). As of April 29, 2012, McEwen Mining had cash and liquid assets of approximately US$50 million and is debt free.

TECHNICAL INFORMATION:

This news release has been viewed and approved by John Read , CPG, McEwen Mining’sconsulting geologist, who is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by the Company at its Mexican exploration properties. Samples from the core drilling were split on-site at theCompany’s El Gallo Complex. One half of the split drill core is shipped to ALS Chemex for sample preparation and analysis by fire assay for gold and 4-acid digestion with ICP determination for silver. Samples returning greater than 10 ppm gold or 1500 ppm silver were re-analyzed using gravimetric fire assay. Standards and blanks were inserted every 20 samples. All holes were drilled with HQ bits and reduced to NTW where required. Samples were taken based on lithologic and/or mineralized intervals and vary in length. The true width of the mineral zone has not been determined. For additional information see the technical report titled “El Gallo Complex Phase II Project, NI 43-101 Technical Report Feasibility Study, Mocorito Municipality, Sinaloa, Mexico” with an effective date of September 10, 2012, prepared by M3 Engineering along with a team of associates (the “Phase II Report”). The Phase II Report is available under the Corporation’s profile on SEDAR (www.sedar.com). The authors of the Phase 2 Report, Stan Timler - M3 Engineering, Mike Hester - Independent Mining Consultants (Reserves), Dawn Garcia - SRK Consulting (Environmental), Richard Kehmeier and Brian Hartman - Pincock Allen & Holt (El Gallo Deposit Resource), John Read - McEwen Mining consultant (Palmarito In Situ, Historic Waste Dumps and Historic Tailings Resource), all of whom are qualified persons and all of whom butJohn Read are independent of McEwen Mining, each as defined by NI 43-101.

CAUTIONARY NOTE TO US INVESTORS

McEwen Mining prepares its resource estimates in accordance with standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 (NI 43-101). These standards are different from the standards generally permitted in reports filed with the SEC. Under NI 43-101, McEwen Mining reports measured, indicated and inferred resources, measurements which are generally not permitted in filings made with the SEC. The estimation of measured resources and indicated resources involve greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that any part of measured or indicated resources will ever be converted into economically mineable reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Table 2. El Gallo 1 Mine - Drill Hole ResultsHoleFrom
(meters)To
(meters)Thickness
(meters)Gold Grade
(Grams per Tonne)Dip (1)
(Degrees)Azimuth (2)
(Degrees)Easting (3)
(UTM)Northing (3)
(UTM)MLX079161.6181.820.22.7-503252170352825753Including166.5167.61.118.0MLX080118.6130.411.81.0-503252175502836073MLX081117.4140.323.05.7-503252170002836073Including118.2120.11.950.0Including129.1130.51.514.4MLX08273.194.321.22.5-50325216993283580Including90.093.93.99.5Including90.091.01.017.5MLX08396.897.60.93.7-50325217098283585MLX08448.166.818.70.8-50325217045283583MLX085127.8148.320.51.1-50325217081283578MLX086——-553252176252836005MLX087171.8181.09.32.5-503252170852835735Including171.8173.11.314.0MLX088171.5185.514.04.6-503252170542835730Including174.7178.74.011.7MLX08955.367.412.11.8-503252170102835842MLX09082.4103.320.93.9-503252169872835780Including90.192.12.012.2Including100.8101.60.826.5(1) Dip = Angle of drill hole, (2) Azimuth = Direction of drill hole, (3) Coordinate

To view “Figure 1”, please visit the following

link: http://media3.marketwire.com/docs/MUX05142013F1.pdf.

To view “Figure 2”, please visit the following

link: http://media3.marketwire.com/docs/MUX05142013F2.pdf.

To view “Figure 3”, please visit the following

link: http://media3.marketwire.com/docs/MUX05142013F3.pdf.

To view “Figure 4”, please visit the following link: http://media3.marketwire.com/docs/MUX05142013F4.pdf.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management ofMcEwen Mining Inc.

Contact Information:
McEwen Mining Inc.
Jenya Meshcheryakova
Investor Relations
(647) 258-0395 ext 410 or Toll Free: (866) 441-0690
(647) 258-0408 (FAX)

McEwen Mining Inc.
Mailing Address
181 Bay Street Suite 4750
Toronto, ON M5J 2T3
PO box 792
info@mcewenmining.com

Facebook: www.facebook.com/mcewenrob
Twitter: www.twitter.com/mcewenmining
Store: www.mcewenmining.com/store”

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

The Economist: Wall Street is Back - Time Is To SELL S&P and Buy Gold.

Tue, 14 May 2013 13:17:36 -0400

Now is time to Sell General Markets and Buy Gold.

Gold - The Perfect Storm.

”Gold Melt Down stage 2 did not happen on Friday even with US Dollar popping up on Yen 100 line breakdown. After initial dive Gold has recovered very nicely in the second part of the day. Every hedge fund manager and their grandmother are Short Yen now. We will caution them that Apple style blood bath could be just around the corner.

Any thought about FED even just “considering the limiting of the Drug Supply” is totally unbearable for the Wall Street now, divergence between the Market and Real Economy is just frightening. So, we guess, that Mouth Open Committee will be preparing for the Operation Withdrawal like for the Second Coming. There will be a lot of talk, some faith and it will be going for a long, long time…

Meanwhile China will graciously accept all the Gold thrown in the market.”

Gold - The Perfect Storm.

Tue, 14 May 2013 13:16:40 -0400

We will run a few stories, which caught our attention this week.

Maquire - Perfect Storm In Gold As LBMA & COMEX Collapsing

“So you have a perfect storm here. This (Western gold) bullion is not coming back. It’s being re-melted, cast into kilobars, and it’s ending up directly in Eastern hemisphere central bank and sovereign vaults. And all of this time the bullion banks are calling for lower prices, and the mainstream media is touting a bear market. The bullion banks are fully aware of this threat, and they are exiting these mismatched short positions.”

TNR Gold: McEwen reckons gold stocks will rise in 2013 MUX, TNR.v

Gold Melt Down stage 2 did not happen on Friday even with US Dollar popping up on Yen 100 line breakdown. After initial dive Gold has recovered very nicely in the second part of the day. Every hedge fund manager and their grandmother are Short Yen now. We will caution them that Apple style blood bath could be just around the corner.

Any thought about FED even just “considering the limiting of the Drug Supply” is totally unbearable for the Wall Street now, divergence between the Market and Real Economy is just frightening. So, we guess, that Mouth Open Committee will be preparing for the Operation Withdrawal like for the Second Coming. There will be a lot of talk, some faith and it will be going for a long, long time…

Meanwhile China will graciously accept all the Gold thrown in the market.

Gold, US Dollar And Here’s What China Is Secretly Planning for the Yuan

Few more pieces of the Puzzle is getting into their place now. Currency wars will claim the US Dollar Reserve Status as its first collateral damage.

China’s Gold Purchases From Hong Kong Expand to Record

Gold Is Trashed, Cash Is Confiscated - Stocks And Treasuries Are At All Time High.

FED’s mission is accomplished now? In coordinated actions Special Op Gold Wash Out has an attempt to kill confidence in real ultimate currency - Gold and Cyprus Deposits Confiscation showed the new blue print for socialist all around the world. Talking heads are screaming on CNBC: “What else would you Buy?” It looks like the secret of internal market youth is found by the FED and they will start to print Jobs, Oil and Gold any minute from now. Stocks and Treasuries will levitate now forever…

The only problem is that all this exercise has unleashed so strong demand for the physical Gold as never before. The longer it goes - the harder will be the crash in the inflated markets coming down to the economic reality.

ZeroHedge:

Chinese Gold Imports Soar To Monthly Record On Insatiable Demand

China Moving To Dominate The World With Gold Purchases

Turk - Incredible Chart, Look For $12,000 Gold & $600 Silver

WHY THERE MAY BE A LOT LESS GOLD THAN WE REALIZE

“Exactly How Much Gold Do We Have?

There’s growing concern that a lot of official gold has been leased out into the market and that sooner or later, as happened back in the late 1990s, one or more parties, perhaps bullion banks or a metals exchange, would run into difficulty trying to meet a physical gold delivery commitment.”

The Single Most Important Chart For All of 2013

TNR Gold: McEwen reckons gold stocks will rise in 2013 MUX, TNR.v

Sun, 12 May 2013 08:23:12 -0400

Any thought about FED even just “considering the limiting of the Drug Supply” is totally unbearable for the Wall Street now, divergence between the Market and Real Economy is just frightening. So we guess that Mouth Open Committee will be preparing for the Operation Withdrawal like for the Second Coming. There will be a lot of talk, some faith and it will be going for a long, long time…

Meanwhile China will graciously accept all the Gold thrown in the market.

Gold, US Dollar And Here’s What China Is Secretly Planning for the Yuan

Monday and Tuesday will be the critical days for retesting the low of Special Op Gold Wash Out.

Action with McEwen Mining was quite interesting this week and, particularly, on Friday. Stock has refused to follow the Gold that day and stubbornly was climbing higher all day. Rob McEwen was making some of his magic on Thursday at the conference call after the Q1 update and McEwen Mining Shareholders meeting will be taken place next week. Chief Owner has promised release from one of the exploration program before it and Los Azules new resource estimate is due by the end of May. According to his facebook page, Rob was on the road last few weeks talking to numerous Investment Banks.

TNR Gold - McEwen Mining: “Los Azules Copper final bids are due late Q2” MUX, TNR.v

Talking about Los Azules Rob McEwen has confirmed the very important information about Rock Glaciers on the property. According to him there is No White Glaciers, there are some Rock Glaciers and they are not affected by the development of Los Azules and only one historical access road “has cut thought the corner” of one of the rock glaciers.

Deposit is growing in size, there is a new emerging potential Copper Trend and final drill results from the recently finished exploration program will be released with the new resource estimate by the end of May.

The final bids for Los Azules are expected by the end of Q2 and there were a few sites visits by potential buyers. Rob McEwen has downplayed the valuation for Los Azules sighting as the most comparable the valuation based on market price of Lumina Copper with Taca Taca Copper deposit in Salta. Normally, we would think that purchase of the 100% of the asset will command a certain premium to the beaten down market price. At the moment of writing Lumina Copper is trading at 325 million market cap, last September it was as high as 500 million. Argentina could be very unforgiven in case if you can not move fast. Plans about sale of Los Azules was announced right after the settlement with TNR Gold in November, but Mr Market was not feeling happy in mining after that day.

Rob McEwen was very cautious informing investors that: “I don’t even know if $200 million is a number that can be achieved.” Shareholders listened very carefully, some complained that they are surprised by the very low price for such an asset, but stock price indicates that it could be a Catalyst for the future.

TNR Gold was brought to light with its Back-In Right to the Northern portion of Los Azules. Rob has confirmed that TNR Gold Back-In Right is at Feasibility and it will survive the sale of Los Azules: “They will deal with the new owner.”

Here where it is getting interesting: McEwen Mining theoretically can try to buy out the TNR Gold Back-In Right now.

PI Financial Corp. Engaged as Financial Advisor for Sale of TNR Gold’s Back-in Right to the Los Azules Copper Project, Argentina TNR.v, MUX

In this case McEwen Mining will have much stronger sale proposition of 100% of Los Azules to potential buyer without any strings attached, but we will not speculate about it - we will see. Next two months will be very interesting: new resource estimate in May will provide the new base for valuation of Los Azules and whatever will be the price for it will be known by the end of June.

Needless to say that there is no any point for Rob McEwen to talk up the Los Azules price before he has made up his mind with TNR Gold.

On another hand even 200 million in cash for Los Azules will be the game changer for McEwen Mining - company can move ahead with El Galo 2 right away or even acquire another company to bring back Rob’s dream about S&P 500 by “The End of 2015.”

We have now Three White Soldiers for MUX on the Weekly, which is Bullish. Mind the Gold Retest on Monday and Tuesday, which we have discussed above - but in all other cases Shareholder Meeting cheers can bring us, hopefully, another week up.

TNR Gold has now 1 mil shares of McEwen Mining and has engaged PI Financial for sale of Los Azules Back-In Right. Any bids for Los Azules will provide the pricing and benchmarking information for the valuation of TNR Gold’s Back-In Right next two months. It will be very important for 7 million market cap junior.

We do not know whether BMO from McEwen Mining side and PI Financial from TNR Gold will be talking soon or maybe TNR Gold will chose another path with its Chinese connections. Kirill Klip involved with Canada Zinc Metals where Chinese giant Tongling Non-Ferrous holds 36% and he is the President on International Lithium with Ganfeng Lithium holding a strategic stake in that company. China is building up its relationships with Argentina and Chinese companies are on the mission the secure the strategic resources.

International Lithium Corp. Arranges Loan From Strategic Partner, Jiangxi Ganfeng Lithium Co. Ltd. ILC.v, TNR.v

We guess that the best strategy for TNR Gold could be to partner with the strong strategic partner to participate in further development of Los Azules and receive some down payment now to advance its Shotgun Gold project in Alaska. Company has released 43-101 resource estimate for Shotgun last month and founder of Nova Gold Greg Johnson has joined company board last fall.

TNR Gold Corp. Completes Resource Estimate at Shotgun Gold Project, Alaska TNR.v

TNR Gold insiders are accumulating according to the latest filings. Junior Miners market is still brutal and nobody knows the future, but McEwen Mining and TNR Gold are providing the interesting special situations and catalyst opportunities in the nearest future and we will continue to follow it closely.

China, Argentina vow to enhance ties

Kip Keen from MineWeb reports:

McEwen Mining (NYSE: MUX) - produces 29,839 ounces gold, up 31 percent over a year ago, with operating cash costs around $885, up from $688 a year ago (San Jose gold mine only) over the same period a year ago. Production jumps with its El Gallo gold mine in Mexico now online. It reports $50.6 million cash, no debt.

To note: McEwen Mining reports no dividend from San Jose in Argentina (49 percent owned) with such proceeds covering debt and other purchases for mine expansion instead. McEwen Mining also mulls over financing options for its second phase El Gallo mine, which has an estimated $180 million capital cost.

Will it build? McEwen Mining says the preferred route to funding is the sale of its Los Azules copper-gold project in Argentina.

McEwen reckons gold stocks will rise in 2013

Rob McEwen cites the White House effect in reckoning a happy ending for gold stocks this year.

Author: Kip Keen
Posted: Thursday , 09 May 2013

HALIFAX, NS (MINEWEB) -

McEwen Mining (NYSE: MUX)president and CEO Rob McEwen addressed a range of issues in a quarterly conference call with shareholders and analysts from the state of gold stocks (not so bad since 1999, he said) to what he thought its Los Azules copper-gold project might fetch if it sells ($200 million).

Indeed, in a sector where majors are pulling back on mega-projects, McEwen figured that was the most McEwen Mining might get for Los Azules.

“I don’t even know if $200 million is a number that can be achieved,” McEwen said.

McEwen drew his figure from a comparison of Los Azules to Lumina Copper’s Taca Taca project. Los Azules is, roughly speaking, about two thirds the size of Taca Taca, which is also a large copper-gold porphyry project located in Argentina. So McEwen figured Los Azules could be worth about two thirds Lumina Copper’s marketcap - the aforementioned $200 million mark.

Though forthcoming on price, McEwen was not willing to disclose how many confidentiality agreements had been signed since BMO started looking around for buyers for McEwen Mining. But he did say there were site visits and that he expected formal bids to come in June.

Still, he wasn’t sowing high expectations for a sale in part given Los Azules’ location. In recent years Argentina has, among other things, made it harder for foreign companies to bring in profits.

“Certainly the uncertainty around Argentina is a negative,” McEwen. “So you don’t have a stampede running to your door saying they want to buy it now.”

The conference call was dominated by a question and answer period filled with inquiries and some long-winded statements from both private investors and analysts. There was a fair bit of conversation about gold stocks, and some wanted to know McEwen’s take on the current state of the market.

McEwen described the current landscape for gold stocks as being the worst since 1999 - a real nadir - but sounded hopeful for a resurgent market by year’s end. “I do think we’re close to the bottom for gold and gold shares,” he said.

He trotted out an interesting statistic: a gold price phenomena he called the White House effect, which has been noted by some analysts in the past. With one exception, since 1984 gold shares have fallen in every US election year, McEwen said, as they did last year. The year that follows, however, gold shares have risen.

That would be this year, of course.

“If you use the AUX index they have risen between 10 and 80 percent in the years that have followed a presidential election in seven of eight periods,” McEwen said. “The one year they went down was during Bre-X and it pulled the whole sector down.”

In McEwen’s estimation this year will not be the second exception since 1984.

“There’s a high probability gold shares are going to be higher at the end of the year than the beginning of the year,” he said.”

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

Gold, US Dollar And Here’s What China Is Secretly Planning for the Yuan

Sun, 12 May 2013 08:21:54 -0400

Few more pieces of the Puzzle is getting into their place now. Currency wars will claim the US Dollar Reserve Status as its first collateral damage.

China’s Gold Purchases From Hong Kong Expand to Record

Special Op: Gold Wash Out. China Takes Another Stab At The Dollar, Anonymous Takes On The FED

“We all can have the different views on Anonymous, but timing of all recent events is pointing out to the very serious financial situation underlying the so apparent manipulation in the Gold market these days. If it takes Years for Germany to bring its Gold back - how much Gold Is There If Any Left?

And here we go with another twist to the Friday’s Gold Wash Out Special Op - ZeroHedge reports on another direct currency swap line established by China with France. This is just getting more serious day by day - US Dollar is under threat as the Reserve Currency of Choice, which is No More Wanted. The question is: will other Central banks join the FED in order to Kill the Confidence in Gold to protect the US Dollar Status now?”

World Gold Council has now confirmed the Chinese are going to back the yuan with gold.

“We are trying to verify this information. If it is true - to call it The Groundbreaking will be the understatement of the year. Welcome to the Currency Wars at its Prime.”

CNBC:

Here’s What China Is Secretly Planning for the Yuan

Earth shattering monetary stimulus from theBank of Japan, a threat to the safety of European deposits (courtesy of the Cyprus bailout), weeks of fretting over U.S. spending cuts - 2013 has given financial market participants an awful lot to digest so far.

This probably explains why perhaps the most significant story of them all seems to have passed most people by - China, and the increasing role its currency is having in the world.

Few would dispute China’s end goal of having its currency, the yuan, become a genuine world reserve currency. Who wouldn’t want cheap access to world capital markets that reserve currency status brings? Not to mention cheaper transaction costs on international trade.

Indeed most spectators also understand China’s political motives in achieving reserve currency status for the yuan (more voting rights at IMF, World Bank etc). However, what does seem to be lost on the financial world right now is how quickly they are getting there.

Before we assess the steps China is taking to achieve this end, let’s get reacquainted with the world of foreign currency reserves.

(Read More: How the Yuan Could Take the Dollar’s Crown)

According to IMF data there is currently approximately $11 trillion of foreign exchange reserves sitting in the coffers of the world’s central banks. $6 trillion of this is referred to as “allocated reserves” where the currency composition is known. Most of the remaining $4-5 trillion “unallocated reserves” are owned by China who choose not to divulge the currency composition of their foreign loot.

We know roughly 62 percent of “allocated reserves” are held in U.S. dollars, 23 percent in euros, 4 percent in yen, 4 percent in sterling with the Swiss franc, the Aussie and Canadian dollars making up the tiny remaining balance.

(Read More: Watch This Currency If You Want to Trade China)

The most striking aspect of these allocations is how uncorrelated they are to one distribution of international trade and two to distribution of world gross domestic product (GDP).

Most recent International trade data show the largest volume of trade of goods are distributed as follows - European Union 12.3 percent, U.S. 11.3 percent, China 11.3 percent, Japan 5 percent, U.K. 3.3 percent and South Korea 3.3 percent

As regards with world GDP, the order of distribution is not un-similar - E.U. 23 percent, U.S. 21 percent, China 10 percent, Japan 8 percent and U.K. 3.3 percent.

Those reserve allocations just don’t seem right do they?

Of course this issue is far from new - long have central bankers, politicians and economists mooted a fairer and more representative reserve currency system, with SDR (the IMF’s Special Drawing Rights) often mentioned.

Well now it seems China’s time has come.

Growth in global foreign currency reserves has exploded - the $11 trillion in central bank coffers today is over three times what it was 10 years ago. The dawn of monetary debasement via the printing press has rocked confidence in all the major currencies. Even gold no longer cuts it. The world is crying out for a new store of value - and the Chinese know it.

The Chinese yuan is not freely traded on the open market and its capital markets are far from fully open - so how is the yuan getting into the hands of those desperate to diversify reserves into this currency which offers fundamentally better value?

Stealth - that’s how.

As with all matters of strategic importance, China is following a well-planned and controlled path in pushing the yuan to the forefront of the currency world. The authorities in Beijing have been very prescriptive in setting up swap lines between their own central bank (the People’s Bank of China) and central banks of their trading partners (swap lines are direct channels between central banks to exchange currency). It is via these swaps line that yuan flows out of China and into the hands foreign corporates, financial institutions and households.

(Read More: A Lot More ‘Juice’ in the Yuan Trade)

Consider Mr Tan in Singapore who wishes to have some of his savings in yuan rather than 100 percent in his native currency the Singapore Dollar. He walks into his local bank branch, converts some of his savings into yuan and leaves it in a newly opened account earning a better interest rate that he was getting on his Singapore dollars.

His local bank branch is able to acquire the yuan on his behalf from the Singapore central bank – which in turn was able to acquire it from the Chinese Central bank via the swap line. This process has seen the yuan deposit base outside of China grow substantially, particularly in Hong Kong, Singapore and Taiwan.

Away from retail banking, the offshore yuan deposit base has also seen strong growth via accounts held by corporates. Consider the export company in Singapore trading with mainland China - they may choose to accept payment in yuan and keep it in an account set up in Singapore. Why convert it back to any other currency when the yuan offers better fundamental valuation and a better interest rate on deposits?

(Read More: China as World’s Biggest Economy? Not So Fast)

Recent data tell us this process is rapidly accelerating - and of course Singapore is just one country among many where yuan is being held as a store of value within its borders. The first such swap lines were set up in 2008 but many have been added last year and we expect many more to be added, with the U.K. and France imminent.

So where do central bank reserves fit into all this?

The world’s central banks’ appetite to diversify reserves into the “under-valued” yuan is clearly there. Only a few weeks ago the Reserve Bank of Australia announced it plans to diversify 5 percent of its reserves into yuan - and that’s just the start. Many of the smaller central banks in Asia have already been seen buying yuan through banks. As more bilateral swap lines are set up and China moves further down their path of capital market liberalization, central banks’ appetite to own this currency will unfold.

(Read More: Will Asian Currencies Forever Disappoint?)

If we assume reserve allocation comes into line with China’s share of international trade and GDP (approximately 10-11 percent) then about $700 billion worth of yuan will be purchased by central banks alone!

We hear the arguments that China’s capital markets have a long way to go before being able to accommodate such a quantum of reserves - but let’s not kid ourselves, the process is well underway and further down the path than many think.

China is getting its yuan into the hands of many entities in many countries. Controlled, prescriptive, pervasive and stealthy are all valid descriptions of this process - but it is happening nonetheless.

Based in Singapore, Stuart Oakley runs the global Asian forex cash trading business at Nomura. He has worked in financial markets since 1995 and has spent most of his career trading Emerging Market currencies and interest rates, previously at Barclays Capital and Credit Suisse in London.”

Lithium Drive: Tesla Model s Surprising Success Consumer Reports' Best Car Ever Tested

Sun, 12 May 2013 08:21:01 -0400

Consumer Reports: Tesla Model S review - An electric sports car earns our top test score

“The rumours about the death of Electric Cars are greatly exaggerated. Time is to check survivors among junior Lithium mining companies. Chinese companies are securing the supply of strategic materials for the next industrial revolution.”

International Lithium Corp. Arranges Loan From Strategic Partner, Jiangxi Ganfeng Lithium Co. Ltd. ILC.v, TNR.v

Lithium Drive: Nissan CEO, Carlos Ghosn, interviewed about electric cars

Sun, 12 May 2013 08:20:17 -0400

The rumours about the death of Electric Cars are greatly exaggerated. Time is to check survivors among junior Lithium mining companies. Chinese companies are securing the supply of strategic materials for the next industrial revolution.

International Lithium Corp. Arranges Loan From Strategic Partner, Jiangxi Ganfeng Lithium Co. Ltd. ILC.v, TNR.v

Consumer Reports: Tesla Model S review - An electric sports car earns our top test score

International Lithium Corp. Arranges Loan From Strategic Partner, Jiangxi Ganfeng Lithium Co. Ltd. ILC.v, TNR.v

Sun, 12 May 2013 08:19:23 -0400

International Lithium Corp. Reports Drilling Underway At Blackstairs Lithium Project, Ireland ILC.v, TNR.v

International Lithium Corp. Reports High Grade Lithium from Mavis Lake, Ontario ILC.v, TNR.v

“Vancouver B.C. April 3, 2013: International Lithium Corp. (“ILC” or the “Company”) (ILC: TSX-V) is pleased to announce lithium and associated rare metal assay results from the remaining eight drill holes of the recent 19 hole (2,075 metre) diamond drill program on the lithium and rare metals pegmatite field spanning the contiguous Fairservice and Mavis Lake claim blocks near Dryden, Ontario.

Key Highlights

1.34% Li2O over 8.50m intersected in MF-12-33

1.05% Li2O over 10.85m intersected in MF-12-34

1.06% Li2O over 10.75m intersected in MF-12-36”

International Lithium Presentation.

International Lithium Corp. Arranges Loan From Strategic Partner, Jiangxi Ganfeng Lithium Co. Ltd.

Vancouver B.C. May 10, 2013: International Lithium Corp. (“ILC” or the “Company”) (ILC: TSX-V) is pleased to announce that Jiangxi Ganfeng Lithium Co. Ltd. (“Ganfeng Lithium”) has agreed to lend ILC a total of $2,289,000 to advance the Company’s Mariana Lithium-Potassium Brine project in Argentina and for ILC to provide the outstanding scheduled cash payments to secure an unencumbered 100% ownership of the Mariana project. Subject to final approval by the TSX Venture Exchange and Ganfeng Lithium’s shareholders, Ganfeng Lithium will advance ILC a total of USD$2,289,000 (“Loan”). USD$1,199,000 will be advanced within two business days of Ganfeng Lithium receiving shareholder approval (“First Advance”), and a further advance of USD$1,090,000 will follow in May 2014 (“Second Advance”). The Loan will mature two years following the date of the Second Advance and during the term of the loan ILC will pay interest of 10% per annum on the balance of the Loan, payable quarterly.

In lieu of receiving repayment of the loan, Ganfeng Lithium may elect to convert into an interest in the Mariana Property. The loan agreement contemplates that Ganfeng Lithium may convert what would otherwise be ILC’s repayment obligation for the First Advance into a 26% interest in ILC’s rights in the Mariana Property. Likewise, instead of receiving repayment of the Second Advance, Ganfeng Lithium may convert into a 25% interest in ILC’s rights to the Mariana Property, for a total interest of 51%. If Ganfeng Lithium elects to convert up to a 51% property interest, at that time, the parties would enter into a joint venture relationship for the operation of the Mariana Property.

“This latest transaction demonstrates the confidence and continued support ILC has received from our strategic partner Gangfeng Lithium, providing us with the resources to move in course with exploration plans and operations that will allow us to unlock the potential value in the projects that we have been advancing since the formation of the company.” States Kirill Klip, President of International Lithium Corp.

About GanfengLithium Co. Ltd.

Ganfeng Lithium based in Xinyu, Jiangxi Province, China, is a professional producer of lithium products which has developed a comprehensive product chain, including lithium metal and alloys, inorganic and organic lithium chemicals, supplies a wide range of lithium products for primary and secondary lithium battery market, pharmaceutical and new material industries. Ganfeng Lithium’s principal market is in China with international exports to Europe, Japan, the USA and India. Ganfeng Lithium was founded in 2000 and listed on the Shenzhen Stock Exchange in August 2010, notably as the first publicly listed lithium company in China and has experienced rapid continuous growth over the last 12 years.

About International Lithium Corp.

International Lithium Corp. is an exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor Jiangxi Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.

The Company’s primary focus is the Mariana lithium-potash brine project in Argentina within the renowned South American ‘Lithium Belt’ that is host to the vast majority of global lithium resources, reserves and production. The 160 square kilometre Mariana project strategically encompasses an entire mineral rich evaporite basin that ranks as one of the more prospective salarsor ‘salt lakes’ in the region.

Complementing the Company’s lithium brine projects are rare metals pegmatite properties in Canada and Ireland that have revealed through recent highly positive results a clear potential that the Company will advance with the support of its strategic partner, Ganfeng Lithium. These projects can add distinct value as the Company strives to source rare metals to help meet the increasing demand through the growth in global technologies that utilize the rare metals suite of elements.

With the increasing demand of high tech applications in battery and vehicle propulsion technologies, lithium and other rare metals are no doubt the metals of tomorrow’s green tech economy. By positioning itself with solid development partners and projects with significant resource potential, ILC aims to be the green tech resource developer of choice for investors and build value for its shareholders.

International Lithium mission is to find, explore and develop projects which have the potential to become world class lithium, potash and rare metal deposits.

On behalf of the Board of Directors,

KirillKlip

President, International Lithium Corp.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. News release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.”

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

Consumer Reports: Tesla Model S review - An electric sports car earns our top test score

Sun, 12 May 2013 08:18:13 -0400

The rumours about the death of Electric Cars are greatly exaggerated. Time is to check survivors among junior Lithium mining companies.

International Lithium Corp. Negotiating Option Agreement for the Mariana Potash-Lithium Brine Project, Argentina ILC.v, TNR.v

Tesla Surges After Posting Profit; Value Exceeds Fiat’s

Lithium Drive: Tesla Model S Set to Beat Chevy Volt and Nissan Leaf in Q1 Sales

Tesla Model S is winning the hearts of wealthy consumers now, next generation will bring the Electric Cars to masses.

Powered by LIthium: Tesla Model X revealed at the 2013 Detroit Auto Show

Next Step is Tesla Generation III: Bringing EVs to the Mass Market.

ConsumerReports:

Tesla Model S review

AN ELECTRIC SPORTS CAR EARNS OUR TOP TEST SCORE

“SLIPPING BEHIND THE WHEEL OF THE TESLA MODEL S IS LIKE CROSSING INTO A PROMISING ZERO-EMISSIONS FUTURE. THIS ELECTRIC LUXURY SPORTS CAR, BUILT BY A SMALL AUTOMAKER BASED IN PALO ALTO, CALIF., IS BRIMMING WITH INNOVATION, DELIVERS WORLD-CLASS PERFORMANCE, AND IS INTERWOVEN THROUGHOUT WITH IMPRESSIVE ATTENTION TO DETAIL. IT’S WHAT MARTY MCFLY MIGHT HAVE BROUGHT BACK IN PLACE OF HIS DELOREAN IN “BACK TO THE FUTURE.” THE SUM TOTAL OF THAT EFFORT HAS EARNED THE MODEL S THE HIGHEST SCORE IN OUR RATINGS: 99 OUT OF 100. THAT IS FAR AHEAD OF SUCH DIRECT COMPETITORS AS THE GAS-POWERED PORSCHE PANAMERA (84) AND THE FISKER KARMA PLUG-IN HYBRID (57).

THE TESLA RIVETS YOUR ATTENTION FROM THE START. SIMPLY TOUCHING THE FLUSH ALUMINUM DOOR HANDLES CAUSES THEM TO SLIDE OUTWARD, WELCOMING YOU INSIDE. WITH THE CAR-SHAPED FOB IN YOUR POCKET OR PURSE, A TAP OF THE BRAKE PEDAL BRINGS THE MODEL S TO LIFE. THERE’S NO NEED TO INSERT A KEY OR PRESS A BUTTON. YOU’RE IMMEDIATELY GREETED BY THE GLOW OF A HUGE 17-INCH VIDEO DISPLAY THAT DOMINATES THE CENTER OF THE DASH AND ALLOWS YOU TO CONTROL EVERYTHING, SUCH AS ADJUSTING THE SUSPENSION’S RIDE HEIGHT AND SETTING UP A NEW SLACKER RADIO CHANNEL. AND AS YOU DIP INTO THE THROTTLE, YOU EXPERIENCE A SILENT YET POTENT SURGE OF POWER THAT WILL MAKE MANY SPORTS CARS WEEP WITH ENVY.

WITH ITS HEFTY 85-KWH LITHIUM-ION BATTERY, OUR TESLA IS EASILY THE MOST PRACTICAL ELECTRIC CAR WE’VE TESTED. THOUGH THE FORD FOCUS ELECTRIC AND NISSAN LEAF CAN GO ABOUT 80 AND 75 MILES, RESPECTIVELY, BEFORE NEEDING A CHARGE, OUR MODEL S HAS BEEN GIVING US AROUND 200 MILES: AMPLE FOR COMMUTING, RUNNING PLENTY OF ERRANDS, AND STILL BEING ABLE TO TAKE THE LONG, WINDING WAY HOME.”

TNR Gold - McEwen Mining: "Los Azules Copper final bids are due late Q2" MUX, TNR.v

Thu, 09 May 2013 08:54:22 -0400

Now you can slice and dice it: what will be the price for Los Azules and what will be the effect on McEwen Mining and, particularly, TNR Gold valuations and market caps. All slides are from McEwen Mining presentations.

From McEwen Mining:

“The Company has been exploring options to finance construction of El Gallo 2. The preferred alternative is a sale of Los Azules. The sales process began mid-January and final bids are due late Q2. The Company has investigated other alternatives should the sale Los Azules not proceed. This includes debt, equity and equipment leasing. An update will be provided in Q2.”

Los Azules Copper Project, Argentina (100%)

Los Azules is one of the world’s largest and highest grade undeveloped copper porphyry deposits. This drill seasons exploration program, with a budget of $25 million, was completed in April.McEwen Mining has begun work on an updated Preliminary Economic Assessment (PEA), which is expected to be completed in Q3 this year. The updated PEA will be based on a significantly larger mineral resource. It will evaluate the possibility of (1) increasing the daily throughput; (2) producing copper cathode instead of a concentrate and (3) processing low-grade mineralized material not previously considered, via a heap leach. The advantage of being able to produce a copper cathode is that it would eliminate the contemplated slurry pipeline through Chile and would reduce Argentina’s current export tax on concentrate.”

In a separate release of Q-10 McEwen Mining has confirmed that new resource estimate on Los Azules will be released by the end of May 2013.

PI Financial Corp. Engaged as Financial Advisor for Sale of TNR Gold’s Back-in Right to the Los Azules Copper Project, Argentina TNR.v, MUX

“Vancouver B.C., May 08, 2013: TNR Gold Corp. (the “Company” or “TNR”) Is pleased to announce that it has retained the services of PI Financial Corp. to provide financial advice regarding the sale of its back-in right to the northern portion of the Los Azules copper project in Argentina. TNR has a back-in right (TNR press release February 5, 2013) allowing it to acquire a 25% interest in certain mineral concessions at Los Azules that includes the northern portion of the deposit (the “Northern Portion”).”

McEwen Mining Provides Q1 2013 Operational and Development Update

TORONTO, ONTARIO—(Marketwired - May 9, 2013) - McEwen Mining Inc. (NYSE:MUX)(TSX:MUX) is pleased to provide a summary of significant developments and first quarter operating results during Q1, 2013. (All Amounts in US Dollars Unless Otherwise Stated)

Q1 Highlights

El Gallo 1, our 2^nd mine began commercial production.
Gold equivalent production increased by 31% to 29,839 ounces (17,001 gold ounces and 667,555 silver ounces) versus Q1, 2012.
On target to produce 130,000 gold equivalent ounces this year.
Cash costs totaled $885 per gold equivalent ounce. Costs increased due to the work stoppage at San José (which added $55 per ounce) and inventory adjustments (which added $60 per ounce). Lower costs are expected for the remainder of the year.
Total sustaining costs totaled $1,507 per gold equivalent ounce. Costs increased due to development being ahead of schedule (which added $90 per ounce), additional exploration drilling at El Gallo 1 (which added $35 per ounce), timing of sales (which added $40 per ounce) and the items outlined in the bullet above (which added $115 per ounce). Lower costs are expected for the remainder of the year.
Increased the mineral reserve and resources, including grade, at San José. Mineral resources are at record levels.
At March 31, 2013 Financials: $50.6 million in liquid assets and no debt.
El Gallo 2 received its Municipal construction permit. Targeting end of Q3 for remaining approvals.”

Please Note our New Legal Disclaimer on the Blog, including, but Not limited to:

PI Financial Corp. Engaged as Financial Advisor for Sale of TNR Gold's Back-in Right to the Los Azules Copper Project, Argentina TNR.v, MUX

Wed, 08 May 2013 15:26:07 -0400

TNR Gold Corp. Completes Resource Estimate at Shotgun Gold Project, Alaska TNR.v

TNR Gold insiders continue to accumulate:

As of 11:59pm ET May 7th, 2013Filing
DateTransaction
DateInsider NameOwnership
TypeSecuritiesNature of transaction# or value acquired or disposed ofPriceApr 24/13Apr 19/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market250,000$0.070Apr 17/13Apr 16/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market33,000$0.070Apr 17/13Apr 15/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market50,000$0.070Apr 17/13Apr 12/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market28,000$0.070Apr 12/13Apr 11/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market31,000$0.070Apr 12/13Apr 10/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market15,000$0.070Apr 5/13Apr 4/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market60,000$0.070Apr 5/13Apr 3/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market33,000$0.070Mar 22/13Mar 21/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market192,000$0.070Mar 22/13Mar 20/13Listov, AlexanderDirect OwnershipCommon Shares10 - Acquisition in the public market23,000$0.070

TNR Gold Corp. Advises of McEwen Mining’s Drill Results at the Los Azules Copper Project TNR.v, MUX

“Los Azules Copper project is growing larger with every reported drill hole, new metallurgy tests and expanded copper resources will provide the basis for the new PEA of the project later this year. TNR Gold is talking now about the part of the newly found to the West of the previously known deposit by McEwen Mining - “Potential New Copper Trend” going on the Northern Part of the deposit, which is subject to TNR Gold’s Back-in Right. Deeper Copper mineralisation is apparently found as well on TNR Gold’s Back-In Right properties.”

The following Slides are from:

McEwen Mining Presentation.

PI Financial Corp. Engaged as Financial Advisor for Sale of TNR Gold’s Back-in Right to the Los Azules Copper Project, Argentina

Vancouver B.C., May 08, 2013: TNR Gold Corp. (the “Company” or “TNR”) Is pleased to announce that it has retained the services of PI Financial Corp. to provide financial advice regarding the sale of its back-in right to the northern portion of the Los Azules copper project in Argentina. TNR has a back-in right (TNR press release February 5, 2013) allowing it to acquire a 25% interest in certain mineral concessions at Los Azules that includes the northern portion of the deposit (the “Northern Portion”).

Los Azules is an advanced stage copper porphyry project owned and operated by McEwen Mining Inc. (TSX:MUX; NYSE:MUX) (“McEwen Mining” or “McEwen”), who describe the project in news releases as “one the world’s largest, highest copper grade, undeveloped porphyry deposits not controlled by a major base metal mining company.” The Company advises that McEwen has published news releases and reports, which are filed on SEDAR at http://www.sedar.com, that describe a resource both on and adjacent to the area subject to TNR’s back-in right. The total published resource, for which TNR’s back-in right includes an undetermined portion, consists of an indicated resource of 310 million tonnes grading 0.65% Cu and an inferred resource of 1,302 million tones grading 0.49% Cu (using a 0.35% Cu cut off grade).

“I welcome the opportunity to monetize our back-in right. We have an asset portfolio that will greatly benefit from the sale of the Los Azules asset. For example, the development of our Shotgun project which our team is ready to further develop and explore the gold resources upon,” states Mr. Kirill Klip, Non-Executive Chairman of TNR. “It was for the potential of the Los Azules project and TNR’s ability to identify top quality projects at an early stage of development, that I became involved in the company.”

TNR has no ownership of the Los Azules Project prior to exercise of the back-in Right and as such presents information about the project as that of independently published information regarding the entire property. TNR encourages its shareholders to read news releases and reports issued by McEwen Mining to gain a better understanding of the Los Azules Project. McEwen Mining’s news releases and reports appear to have been prepared by qualified persons and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no qualified person engaged by TNR Gold Corp. has done sufficient work to analyze, interpret, classify or verify McEwen Mining’s information to determine the current mineral reserve or resource or other information referred to in the news releases and reports. Accordingly, the reader is cautioned in placing any reliance on the disclosure herein.

The Company is also pleased to announce that as part of the settlement terms with McEwen Mining, (TNR press release February 5, 2013) the transfer of the Escorpio IV mineral rights to McEwen Mining Inc. is now complete and TNR has received the certificates representing 1 million shares of McEwen Mining Inc. (information about McEwen Mining can be found at http://www.mcewenmining.com and on Sedar at http://www.sedar.com). The shares are subject to the minimum statutory hold period.

ABOUT LOS AZULES

The Company has a 25% back-in right in the Northern Portion of the Los Azules property which is exercisable following the completion of a feasibility study. If the Company elects to back-in for 5% or less or has its interest diluted to 5% or less, TNR will receive a net smelter royalty of 0.6% from the Northern Portion.

The Los Azules copper deposit is located in the San Juan province of Argentina. McEwen Mining Inc. is the current operator on the Los Azules copper deposit and the Company advises that on March 13 and March 28, 2013, McEwen Mining Inc. issued press releases in relation to the deposit, which areaccessible on Sedar at http://www.sedar.com and on McEwen Mining Inc’s website at http://mcewenmining.com.

The press release issued by McEwen Mining Inc. dated March 28, 2013 includes preliminary results from drilling operations on the Los Azules copper deposit for the current exploration season. McEwen Mining Inc’s press release appears to be prepared by qualified persons, but no independent qualified person engaged by TNR Gold Corp. has done sufficient work to analyze, interpret, classify or verify McEwen Mining Inc’s information to determine the accuracy of the current mineral reserve or resource or other information referred to in the press release. Accordingly, the reader is cautioned in placing any reliance on the subject results and estimates.

McEwen Mining is completing a drilling program to further expand the resource to the west and to depth. McEwen Mining has also stated that an updated preliminary economic assessment (“PEA”) will be completed later this year that will utilize the expanded resource (expected by the end May 2013) and will incorporate results of recent metallurgical work focused on floatation optimization and copper leaching (see MUX press release of March 13, 2013).

ABOUT PI FINANCIAL

Established in 1982, PI Financial, is a leading, full-service, independent investment dealer, providing a full range of investment products and services to corporate and institutional investors. PI has been advising and servicing the capital needs of the global mining industry for over 30 years with its very specialized and focused group of professionals.

ABOUT TNR GOLD

TNR Gold recently reported an inferred mineral resource at the Shotgun Gold project in Alaska containing 20,734,313 tonnes at 1.06 grams per tonne (“g/t”) gold for a total of 705,960 ounces gold (“Au”) using a 0.5 g/t Au cut-off.

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina and is commited to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

John Harrop,PGeo, FGS, is a “Qualified Person” as defined under NI 43-101 and has reviewed and approved the technical content of this news release.

For further details please see our website at http://www.tnrgoldcorp.com/s/NewsReleases.asp

On behalf of the board,

Gary Schellenberg,

President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Q&A. Statements in this Q&A other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. Q&A may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

*Source Geoscience Reporting Guidelines, National Library of Canada Cataloguing in Publication Data Grant, Brian PGeo, 2003”

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FIRST LOOK Inside the FEDERAL RESERVE: USD, CASH, GOLD and Monetary System

Fri, 03 May 2013 17:52:29 -0400

Gold vs FIAT EMPIRE - Why the Federal Reserve Violates the U.S. Constitution

“Some of these movies and posts are all history already, but recent events in the Gold Markets are only proving that the whole FED based financial system is rigged and there will be only one way out - ultimate currency, which is Gold.”

“The Illuminati Were Amateurs” - Matt Taibbi Explains How “Everything Is Rigged” From LIBOR to Gold Markets

”Matt Taibbi continues his investigative journalism at its best - will his longly voice in the mainstream media be heard one day finally? With the recent Crash in Paper Gold market this new information clearly points out that Gold Shorts under the JP Morgan’s management are in a Big Trouble Now.”

WHO OWNS THE FEDERAL RESERVE?

“FIRST LOOK Inside the FEDERAL RESERVE, USD, CASH, GOLD monetary SYSTEM - Americas Money Vault, National Geographic

For the first time, National Geographic takes you inside the heart of the money machine to places that you’re not allowed to bring a camera …straight into the vaults of some of the world’s largest stashes of what you want, need and bust your butt to get: Money.

Hidden deep under the streets of New York City, hundreds of billion dollars in gold bars are tucked away in a bunker that is anchored to the bedrock of Manhattan Island itself.

In the latest in a string of high-profile hacking disclosures, the Federal Reserve confirmed on Wednesday that one of its websites was broken into by cyber hackers in a breach that reportedly leaked the contact information of thousands of bankers.

While the central bank said the incident didn’t “affect critical operations” of the Federal Reserve System, the disclosure is sure to fuel concerns about the cyber security of government websites and critical financial infrastructure.

The Fed hack appears to be tied to an Anonymous group that published on Twitter the credentials of more than 4,000 commercial bankers early Monday morning. The group, Operation Last Resort, said it received the documents “via the FED.”

Call it the Rick Perry gold rush: The governor wants to bring the state’s gold reserves back from a New York vault to Texas.

And he may have legislative support to do it. Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Investment Management Co., or UTIMCO, and stored by the Federal Reserve.

“If you think gold is a hedge, or a protection, you always want it as close to the individual and the entity as possible,” Paul told The Texas Tribune on Thursday. “Texas is better served if it knows exactly where the gold is rather than depending on the security of the Federal Reserve.”

Sadly, most Americans don’t even realize that a private banking cartel has a monopoly over all money creation in this country. In recent years they have abused this power by wildly printing money (“quantitative easing”), and by making more than 16 trillion dollars in secret loans to their friends during the last financial crisis. “Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit”
remaining alternative to Congress raising the nation’s borrowing limit, which would utilize a loophole in federal law to mint a $1 trillion coin to be deposited in the Federal Reserve and ensure the federal government could pay all bills and debt obligations.

You can thank the reckless money printing that the Federal Reserve has been doing for the incredible bull market that we have seen in recent months. When the Federal Reserve does more “quantitative easing”, it is the financial markets that benefit the most. The Dow and the S&P 500 have both hit levels not seen since 2007 this month, and many analysts are projecting that 2013 will be a banner year for stocks. But is a rising stock market really a sign that the overall economy is rapidly improving as many are suggesting? Of course not. Just because the Federal Reserve has inflated another false stock market bubble Barack Obama has been president, 40 percent of all American workers are making $20,000 a year or less, median household income has declined for four years in a row, and poverty in the United States is absolutely exploding. So quantitative easing has definitely not made things better for the middle class. But all of the money printing that the Fed has been doing has worked out wonderfully for Wall Street. Profits are soaring at Goldman Sachs and luxury estates in the Hamptons are selling briskly. Unfortunately, this is how things work in America these days. Our “leaders” seem far more concerned with the welfare of Wall Street than they do about the welfare of the American people. When things get rocky, their first priority always seems to be to do whatever it takes to pump up the financial markets Luxetti”

Special Op: Gold Wash Out. China Takes Another Stab At The Dollar, Anonymous Takes On The FED

International Lithium Corp. Negotiating Option Agreement for the Mariana Potash-Lithium Brine Project, Argentina ILC.v, TNR.v

Fri, 03 May 2013 17:51:19 -0400

International Lithium Corp. Reports Drilling Underway At Blackstairs Lithium Project, Ireland ILC.v, TNR.v

International Lithium Corp. Reports High Grade Lithium from Mavis Lake, Ontario ILC.v, TNR.v

Key Highlights

1.34% Li2O over 8.50m intersected in MF-12-33

1.05% Li2O over 10.85m intersected in MF-12-34

1.06% Li2O over 10.75m intersected in MF-12-36”

International Lithium Presentation.

Apr 30, 2013

International Lithium Corp. Negotiating Option Agreement for the Mariana Potash-Lithium Brine Project, Argentina

Vancouver B.C. April 30, 2013: International Lithium Corp. (“ILC” or the “Company”) (ILC: TSX-V) reports that the Company is considering providing an opportunity to a third party to enter into an option agreement on the Mariana project, Argentina. The Mariana project is currently under an option agreement whereby ILC can earn a 100% ownership interest in the nine mineral concessions that enclose Salar de Llullaillaco within the “Lithium Triangle” in Salta, Argentina, more commonly referred to as the Mariana project. The transaction, if completed, would allow ILC to make all remaining necessary cash payments to secure an unencumbered ownership of the project.

About the Mariana Project

The Mariana potash-lithium brine project at Salar de Llullaillaco in Salta, Argentina, consists of several contiguous mining claims that cover an expansive 160 square kilometres. The claims strategically encompass the entire salar and a significant portion of the surrounding area (to provide site facilities for a processing plant if the project proves to be economically viable). The claims are 100% wholly optioned by the Company.

Salars, or salt lakes, host some of the largest known lithium resources in the world and the Mariana basin is one of the more prominent salars in the renowned lithium belt of South America, currently accounting for more than 70% of global lithium production.

Initial surface brine sampling revealed highly compelling geochemistry reporting average grades of 440 milligrams per litre (“mg/L”) lithium and 12,700 mg/L potassium. The potassium levels were unexpected and represent some of the highest grades comparative to any of the neighbouring salars outside of the world-class operation on the Atacama salar in Chile.

International Lithium Corp. previously drilled four widely spaced reverse circulation drill holes (totalling 444 metres and positioned approximately 5 kilometers apart) to characterize the subsurface strata and brine within the 10 x 15 kilometer salar (salt lake). Results indicate homogeneous geochemical concentrations to the maximum depth of the holes (approximately 100 metres).

The upper stratigraphic interval is primarily halite varying in depth from 18 to 32 metres in the peripheral areas and 66 metres deep proximal to the center of the salar. Below this predominantly halite layer an extensive mixed evaporite layer approximately 32-52 metres thick, consisting of greater than 60% fine to coarse sand, was encountered in the three peripheral holes. Below the evaporite sequences in all holes, an extensive medium to coarse grained, dark coloured, basaltic sand interval was encountered. Brine flow measurements recorded during drilling increased markedly below the halite sequence throughout the sand rich layers.

Unconsolidated stratigraphic units with a significant granular or sand component possess physical characteristics that allow them to maintain a higher degree of permeability and porosity at greater depths than halite (salt) units. Consequently, they represent a potential aquifer for hosting brine at depth and are an important target in the lithium-potash brine exploration model. The measured brine densities, ranging from 1,190 to 1,298 grams per litre (“g/L”), reflect a considerable quantity of dissolved salts, approximately 10 times the salinity of seawater.

John Harrop, P.Geo, FGS, is the Company’s Qualified Person on the project as defined under NI 43-101 and has reviewed the technical information contained in this press release.

About International Lithium Corp.

International Lithium Corp. is an exploration company with an outstanding portfolio of projects, strong management ownership, robust financial support and a strategic partner and keystone investor Ganfeng Lithium Co. Ltd., a leading China based lithium product manufacturer.

The Company’s primary focus is the Mariana lithium-potash brine project in Argentina within the renowned South American ‘Lithium Belt’ that is host to the vast majority of global lithium resources, reserves and production. The 160 square kilometre Mariana project strategically encompasses an entire mineral rich evaporite basin that ranks as one of the more prospective salars, or ‘salt lakes’ in the region.

Complementing the Company’s lithium brine projects are rare metals pegmatite properties in Canada and Ireland that have revealed through recent highly positive results a clear potential that the Company will advance with the support of its strategic partner, Ganfeng Lithium. These projects can add distinct value as the Company strives to source rare metals to help meet the increasing demand through the growth in global technologies that utilize the rare metals suite of elements.

With the increasing demand of high tech applications in battery and vehicle propulsion technologies, lithium and other rare metals are no doubt the metals of tomorrow’s green tech economy. By positioning itself with solid development partners and projects with significant resource potential, ILC aims to be the green tech resource developer of choice for investors and build value for its shareholders.

International Lithium Corp.’s mission is to find, explore and develop projects that have the potential to become world-class lithium, potash and rare metal deposits.

On behalf of the Board of Directors,

Kirill Klip
President, International Lithium Corp.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. News release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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Gold Manipulation - Will JPMorgan's "Enron" Be The End Of Blythe Masters?

Fri, 03 May 2013 17:50:09 -0400

ZeroHedge is at its best exposing the rotten Financial System manipulating everything and Too Big To Jail. Somebody who Looks Like JP Morgan was got Short of the Eligible Gold just before the recent Special Op Gold Wash Out.

“But what we hope for is that there is at least a brief period of time when Blythe’s finger is not be on the gold “sell” button. Not because we want to be deprived of the opportunity to buy physical gold and silver at far cheaper than fair value prices (which, by the way, are meaningless when expressed in dying fiat), but because we are simply curious how high gold may go should JPM’s commodity queen finally be put away temporarily… or permanently.

Even for a total banana republic, this does not seem like such a far-fetched request.”

Let’s donate our tweets and blogs to make it viral now.

“The Illuminati Were Amateurs” - Matt Taibbi Explains How “Everything Is Rigged” From LIBOR to Gold Markets

ZeroHedge:

Will JPMorgan’s “Enron” Be The End Of Blythe Masters?

One year after the infamous Jamie Dimon “tempest in a teapot” fiasco, which promptly turned out to be the biggest TBTF prop-trading desk debacle in history, things were going well for JPMorgan.

On one hand, the chairman of the TBAC (and thus US Treasury advisor and policy administrator), and former LTCM trader, Matt Zames, was just recently promoted to the sole second in command post at the biggest US bank (and 2nd biggest in the world) by assets, and first in line to take over from Jamie Dimon. On the other hand, one of Mary Jo White’s former co-workers, and a JPM defense attorney from Debevoise just became head of theSEC’s enforcement division, in theory guaranteeing that the US government would never do more than slap the wrist of JPM in perpetuity.

And then, when everything seemed like smooth sailing ahead, the Federal Energy Regulatory Commission (FERC) showed up on March 13, the day before Carl Levin’s committee released its latest report on JPM’s prop trading blunder, and according to the NYT, alleged that JPM in the past several years, quietly became nothing short than the next Enron.

Government investigators have found that JPMorgan Chase devised “manipulative schemes” that transformed “money-losing power plants into powerful profit centers,” and that one of its most senior executives gave “false and misleading statements” under oath. The findings appear in a confidential government document, reviewed by The New York Times, that was sent to the bank in March, warning of a potential crackdown by the regulator of the nation’s energy markets.

Another “tempest in a teapot”… Or is JPM reprising the role of the most hated company from the early 2000s, Enron, now that absolutely everyone’s attention is focused on its purportedly criminal activity, potentially a problematic development? It very well might be.

The JPMorgan case arose, according to the document, after the bank’s 2008 takeover of Bear Stearns gave the bank the rights to sell electricity from power plants in California and Michigan. It was a losing business that relied on “inefficient” and outdated technology, or as JPMorgan called it, “an unprofitable asset.”

Funny: another “case” that has arisen, so far at mostly in the tinfoil hat periphery of the blogosphere is that JPM also inherited some massive precious metal shorts when it was handed over Bears Stearns on a Fed-subsidized silver platter, and it is the legacy of these short positions that has encouraged various JPM employees, such as Blythe Masters for example, to not only do everything in their power to push the price of gold and silver lower, but to align directly with the Fed, which wants nothing more than to destroy every single last believer in real, not paper-based, “quality-collateral.”

For now, however, let’s get back to what was previously conspiracy theory, and is now fact:

Under “pressure to generate large profits,” the agency’s investigators said, traders in Houston devised a workaround. Adopting eight different “schemes” between September 2010 and June 2011, the traders offered the energy at prices “calculated to falsely appear attractive” to state energy authorities. The effort prompted authorities in California and Michigan to dole out about $83 million in “excessive” payments to JPMorgan, the investigators said. The behavior had “harmful effects” on the markets, according to the document.

Uh-oh. Sounds suspiciously close to what a certain Houston firm, once upon a time called Enron (advised by none other than one Paul Krugman) was doing to the California electricity market. And where the FERC and legacy ENRON instances arise, sparks are sure to fly.

But what is worst for JPM, and its brilliant (abovementioned) employee, often times credited with creating the Credit Default Swap product and market (simply an instrument to trade credit with negligible upfront collateral and thus allow equity option-like speculation in the credit realm), is that FERC may be seeking to throw the book at none other than Blythe Masters.

In the energy market investigation, the enforcement staff of the Federal Energy Regulatory Commission, or FERC, intends to recommend that the agency pursue an action against JPMorgan over its trading in California and Michigan electric markets.

The 70-page document also took aim at a top bank executive, Blythe Masters.

Blythe did a bad, bad thing. So bad she lied about it under oath.

The regulatory document cites her supposed “knowledge and approval of schemes” carried out by a group of energy traders in Houston. The agency’s investigators claimed that Ms. Masters had “falsely” denied under oath her awareness of the problems and said that JPMorgan had made “scores of false and misleading statements and material omissions” to authorities, the document shows.

Oops. And it’s only downhill from here, because what follows, are the two scariest words a banker can hear in the context of a potential enforcement decision: “individually liable”

For now, according to the document, the enforcement officials plan to recommend that the commission hold the traders and Ms. Masters “individually liable.” While Ms. Masters was “less involved in the day-to-day decisions,” investigators nonetheless noted that she received PowerPoint presentations and e-mails outlining the energy trading strategies.

And some more scary words: “systematic cover-up”

The bank, investigators said, then “planned and executed a systematic cover-up” of documents that exposed the strategy, including profit and loss statements.

In the March document, the government investigators also complained about what they said was obstruction by Ms. Masters. After the state authorities began to object to the strategy, Ms. Masters “personally participated in JPMorgan’s efforts to block” the state authorities “from understanding the reasons behind JPMorgan’s bidding schemes,” the document said.

The investigators also referenced an April 2011 e-mail in which Ms. Masters ordered a “rewrite” of an internal document that raised questions about whether the bank had run afoul of the law. The new wording stated that “JPMorgan does not believe that it violated FERC’s policies.”

Looks like the FERC disagreed. But how could it? It was only a year ago that Blythe was on CNBC promising that not only she, but JPMorgan would and could never do anything wrong in the commodities, or any other, arena. Who can possibly forget her unforgettable platitude: “What is commonly out there is that JPMorgan is manipulating the metals market. It’s not part of our business model. it would be wrong and we don’t do it.”

But… if she fabricated data, blocked regulatory investigations, and lied under oath could she possibly also have… lied to CNBC? No… that is unpossible.

So what happens next?

Well, JPM can hope that its guy at the SEC, Andrew Ceresney, who happens to be in charge of the porn-addicted agency’s “enforcement” division, has just enough clout to make that other regulator, the FERC forget all about its inquiry, and its factually-justified allegations.

Or, failing that, and should justice finally prevail in this banana republic for one of the TBTF banks, what may just happen is that Blythe may end up in prison. Minimum security, of course, and for a very brief period of time, with all of her (allegedly) ill-gotten and accumulated wealth waiting for her upon reentry into society. And that’s fine.

But what we hope for is that there is at least a brief period of time when Blythe’s finger is not be on the gold “sell” button. Not because we want to be deprived of the opportunity to buy physical gold and silver at far cheaper than fair value prices (which, by the way, are meaningless when expressed in dying fiat), but because we are simply curious how high gold may go should JPM’s commodity queen finally be put away temporarily… or permanently.

Even for a total banana republic, this does not seem like such a far-fetched request.”

Will Gold Use This Excuse To Build The Reversal Now? Charles Nenner Calls For Gold To Bottom In April.

Sun, 14 Apr 2013 09:09:37 -0400

Nobody likes Gold any more. Soros is proclaiming that Gold “has failed to act as The Safe Heaven”, Gold Bugs are shattered with all Gold Miners’ Write Downs and Junior Miners are plain dead wood in the water without any chance of financing. It looks like BOJ and Bernanke with FED will start to print Gold any moment now and nobody has any guts to call the Bottom any more.

We have discussed the level of 1550 in Gold price quite a few times already - we have nothing to lose and will stick our neck again. The pattern is not so apparent now as it was with Apple before our call in December, but we have a very good formation to surprise so many in the markets now. Gold actually has tested 1550 twice by now and has the chance to create the Double Bottom Reversal this time. We have quite a strong reversal candle at the second Bottom point as well. The Double Wedge of the consolidation stage has not been violated yet as well.

Technical Analysis is more like the art and shows the probabilities of the next move, we have the very strong feeling that the next few weeks can confirm the Buy signal on Gold again.

US Dollar chart supports the probability for Gold to start the new Leg Up as well. Head And Shoulders Bearish Reversal was violated with US Dollar levitation from February, but now we have a much stronger Reversal pattern - Double Top forming in US Dollar. Black Inverse Hammer Candle on the second top in US Dollar has been a powerful indicator of the reversals in the making so many times before.

On another side of things, in particular market plays, we can see at least some bids appearing in the most beaten down juniors now, insiders are accumulating thespecial situation plays like TNR Gold and companies like McEwen Mining with very large short positions has been acting very interesting from March of this year with sharp rebounds on the huge volume from oversold positions.

McEwen Mining is building up the very strong reversal with Double Bottom and First low formed in May 2012 and Second low forming now with the resent retest of Rights Offering level of 2.25 area. Should our observations be in agreement with the Mr Market’s mood, McEwen Mining will depart from the misery and will take TNR Gold on the ride with it as well very soon. Los Azules Copper development can provide enough catalyst for both companies to enjoy the ride with the Gold and Junior markets reversal winds in the sails. Only the best will survive and only particular special situations like these ones will provide the necessary “cushion of safety” in these very risky propositions.

We will throw two significant events about the timing and background for our observations here: announcement of the Direct Currency Trade between China and Australia and Charles Nenner’s call on Gold bottoming in April.
Now all situation around North Korea can be interpreted with quite an interesting twist. Just before Iraq liberation that country has decided to trade Oil in Euros. Now China will trade with Australia Directly converting Yuan into Australian Dollars and it is one of the largest Commodity markets. Add here to the picture the similar agreements with Brazil, Russia and other countries and you have if not Gold backed Yuan yet, but definitely new chapter for the Reserve Currency of Choice - US Dollar.

China and Australia in currency pact

Technician Charles Nenner on Bond Funds: Get Out Now While You Can

Apple To Break Down to 400 and Gold & Commodities To Break Out on China Move AAPL, GLD, FXI, TNR.v, ILC.v, LMR.v, RM.v, CZX.v

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