An Update from Max Porterfield of Callinex Mines

16

It was late April when we first introduced you to Max Porterfield and Callinex Mines. A few days ago, I had the opportunity to visit with Max again in order to get an update on their base and precious metal business.

And it has been a heck of a year in base metals, particularly the zinc that is the primary product of Callinex. Check this crazy chart:

So in this conversation, we spend some time discussing zinc...its fundamental uses and its intriguing set of supply/demand dynamics. But we also take some time to discuss copper, gold and silver as all three are by-products of zinc mining.

I think you'll find this to be a very interesting interview as it covers some topics that we don't regularly discuss here at TFMR.

TF

  16 Comments

SquibLoad
Sep 25, 2016 - 10:01am

NJ - Local Coin Shop Report

Flooded with silver. Most he's had on hand for some time. 100 oz bars stacked up. I asked if he was building a doghouse with them. $1/over spot. Can you believe that he was exchanging Paper Promises for them!!!!! Some old bars in that pile (1980's vintage we were guessing). I do like the rainbowing tarnish on a bar. On top of that he had the a strong supply of silver eagles (marred).

That $20 mark has it coming out of the woodwork. Its either weak hands or weak minds.

  • Oct. 1: RMB SDR inclusion
  • Nov. 8: US Suicide/Election
  • Dec. 13-14: FOMC Rate Hike Rope-a-Dope
  • On-Horizon: Douche Bank bail-in

Why in the hell would you be selling now; and for what?! Go right ahead. Sell, sell it all dumb-ass! Go buy AAPL @ $112.

Its a beautiful morning here. I wish you ALL peace this day. Go do something positive!

Oh, and by the way....

FIRST!!!

Marchas45
Sep 25, 2016 - 10:10am

People Are Selling

Because they need the cash in my opinion, Either to pay bills because of lack of work or other mounting issues. The bastards know what their doing. "Let Them Buy, We Will Get It Back, Sooner Or Later, Cheaper" is their motto. They ain't no dummies. Keep Stacking if you can.

arch stanton
Sep 25, 2016 - 11:14am

I'm in that boat

If anything goes belly up around here I've got to sell something to pay for it. That's when it sucks to be all in.

tyberious
Sep 25, 2016 - 11:21am

October 1st: The Biggest

October 1st: The Biggest Shift in Global Finance This Decade

There are a number of converging events taking place in the past few months that will impact even children's children.

Behind the scenes, and no thanks to the mainstream media, it's safe to say that not one in a hundred thousand knows that in less than a week, the Chinese yuan will be added to the SDR of the IMF.


These currencies are what the international community deems as the safest and most usable for intentional commerce, and on October 1st, the RMB will, for the first time, be added to the basket.

This marks the largest development in the rise of China and the end of the dollar era. This isn't the first time the IMF has cut western governments' part of the basket – it is part of a long-term trend going back to 2005.

In order to truly weaken the dollar further and transfer the power in global finance to Eurasia, what the Russians and Chinese are doing is buying gold – lots of it.


The Russians know that the future is China, and they are becoming allies when it comes to gold. In fact, they have increased mining capacities in order to sell even more to China.


This trend is signaling to Europe and the rest of the world that China is looking to overthrow the U.S. as the global financial powerhouse, but the world is not easily persuaded.

That's the reason the Chinese, which will now be part of the SDR basket of currencies, has to prove that the Yuan is trustworthy. In order to do that, the People's Bank of China is hoarding gold in massive amounts, and it looks like in 2-3 years they will own more reserves than European countries.

What's also happening behind the scenes and is unreported by our financial media is the fact that China has essentially been quietly liquidating their treasury bonds for over a year. This has major implications to the U.S.’ ability to keep financing its defense budget and social benefits.



Chinese view silver as money, as well, and they have viewed it as money for thousands of years. Since many of the mines over there are owned by the government, the logical thing to do would be to cut costs of gold production and the largest expense of that is fuel consumption.

That's why I believe that once oil prices are going to start ticking higher again – they will focus more on silver, and the price of silver will be much higher.



The Chinese are about to put yet another nail in the dollar coffin, and to prove it, they are going to push silver and gold prices much higher in the long-term.

Best Regards,

Lior Gantz
President, WealthResearchGroup.com

Joseph Warren
Sep 25, 2016 - 12:48pm

Selling

Yep, none of the people that I've spoken to who are selling some PMs are happy about it. They bemoan the fact that after going through 5 years of pain in these 'markets' they may lose future returns. Even back in 2011 when the PMs hit their nominal highs, the vast majority of the public was not in the PM market. Contrast that to the previous real estate and dot com bubbles. People who bought phyz PMs are contrarians who understand the overall picture and justification for being in. Retirees & others hit with a large medical expenses, etc are sometimes forced to sell some of their most liquid assets - PMs. And, the banksters have extended their Ponzi scheme further than many thought was possible, me included.

P.S. - A few people have asked me about this. (All were online acquaintances, no one I know face-to-face has a substantial holding of any PM based investment.) They had to sell to cover personal expenses. I think they wanted to vent and brain storm a little. We did come up with a list of unused assets (various collectibles they no longer were interested in, raw land, etc) that they could focus on selling in order to better maintain their stack. These items will take some time to get rid of, however.

Sep 25, 2016 - 1:20pm
BarnacleBill
Sep 25, 2016 - 3:36pm

Reason for Concern ?

I just read an Aug 9th company release that Callinex issued 1.8 mil preferred share options to be exercised by Aug 2021 at $.38/share. I own a small amount in my portfolio and may add but wanted to see if any share my concern. Thanks in advance.

streber
Sep 25, 2016 - 4:44pm

Wells & more...

"The relentless propaganda of economic recovery isolated ‘the economy’ from the broader system of political and economic control and posed the heavily engineered up-cycle as a permanent new state of affairs. It also pitted the facts as lived by hundreds of millions of people against the insistence by the governments and central banks of the U.S., the E.U. and Britain that recreation of the circumstances that produced the prior three crises would somehow produce widely-shared and benevolent outcomes this time around. What the Wells Fargo ‘scandal’ renders evident is that what was recovered is the system of predatory finance that exists as institutionalized capitalist taking in the service of a tiny but powerful plutocracy."

https://www.counterpunch.org/2016/09/23/a-scam-too-far/

DPMS308
Sep 25, 2016 - 7:55pm

The 2 year scavenger hunt

I took a log home building class Labor Day weekend which is geared for DIY average Joe's that want to build a beautiful custom built mortgage free log home for the least amount of money. Finding resource for pennies on the dollar is emphasized such as auctions, Craig's list, garage sales, flea markets, thrift stores, scrap from manufacturers that can be re-purposed, and of course using the bureaucratic process to your advantage on the bureaucrats in government. So ... I stopped in the local thrift store and didn't find any building tools but I did find a pair of these like new a size larger just right for layering for $5.99:

https://johnsonwoolenmills.com/product/adirondack-pants/

I also found a like new LL Bean Gore-Tex rain coat that had some kind of tournament sponsor on it for $8.99 that looks like it was never worn. That stays in the truck and if I have to crawl under the truck in the mud or put a tear in it who cares???

DPMS308
Sep 25, 2016 - 8:22pm

Good stuff cheap

I found this site a year ago... lots of good stuff cheap for preppers or cheap b@stards which there a few on this site, myself included. Just do a little research on Amazon, eBay, and Google to confirm it is a good deal. Not many items have been a disappointment. Everybody in my family love the memory foam bamboo pillows I bought. Solar lights have been great too. Sign up for the email notifications because the deals sell out.

https://www.yugster.com/todays-deals/last-chance

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

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Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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