Aurcana Re-opens Shafter Silver Mine After 70 Year Hiatus
I had the great fortune to attend a ceremony and celebration to mark the re-opening of the historical Presidio silver mine as Aurcana's new Shafter mine. I found the experience thoroughly fascinating, and I look forward to telling you all about it on Monday.
Aurcana completed the mine construction on-time and under budget, which is a very rare achievement given the acute capital cost escalation that has dogged so many construction projects throught the industry.
It's a terrific growth story with some exciting new developments. Please stay tuned for my report.
I trust gold and silver investors breathed a sigh of relief as gold surged powerfully Friday and the stocks finally made an overdue show of strength. We haven't seen anything yet, but it's gratifying to witness what may potentially mark a major reversal for the sector. On the flip side, of course, the catalysts behind the move are sobering reminders of how serious a threat we face of unimagineable financial turmoil.
Jim Sinclair has been right all along. There is no limit to the interventions that will be undertaken to forestall the deleveraging process, rendering "QE to infinity" an apt characterization of the dilemma we face.