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Eric Coffin of HRA Advisories
Recent Articles
Resource sector paradigm shift: Part II
Posted on April 16, 2013
There was little reason for optimism and certainly no optimists that we could find in the junior space this month.
So far, so mediocre
Posted on February 28, 2013
More than six weeks into the new year and there is still no joy for junior resource traders.
Promises, promises
Posted on October 20, 2012
The XEU (Euro) and gold charts presented on this page are a good reading of the short term track record of European and US central bankers. Since bottoming near $1.20 in July the Euro staged a 10% rally over less than two …
Crossing the Rhine
Posted on July 12, 2012
This month’s calendar has been chock a block with one important meeting or vote or conference after another.
World’s dumbest politician
Posted on June 7, 2012
A country that represents less than 2% of the Euro block and a tiny fraction of the world economy continues to be the tail that wags the dog.
The PDAC curse
Posted on March 22, 2012
It’s that time of year again. Thirty five thousand people descended on Toronto to take part in the largest mining industry confab in the world.
Europe's red tape blues
Posted on November 25, 2011
Another month, another Euro area country in the hot seat.
Metals market equations are no longer simple
Posted on April 25, 2011
World events continue to signal support for hard assets, but caution is still advised. News in the copper space is as much about consolidation of the players as the metal itself right now. The $7 per share bid by China Minmetals for Equinox Minerals (EQN-T, ASX) has offered some support for other mid tier copper assets.
Potash Supply
Posted on March 24, 2011
Cloth-dying and soap-making have employed residue from boiled plant material since ancient times. The plants are reduced to brine and that evaporated until only the useful “potash” remains.
The uncertainty of crowds
Posted on March 9, 2011
With Libyans having joined the movement to overturn aging autocracies the Arab street action has moved into a geopolitically more difficult territory. Concern over Libya’s oil exports are showing up as higher crude pricing. Libya’s 1.6 M barrels/day of crude output may well undergo disruptions, but the Saudis could replace that if prices move high enough to cause concern. As troubling is the unpredictability of Muammar Gaddafi and those around him. They seem more likely to go down fighting than the western leaning autocrats have been, and that is more likely to cause splintering of the country and concern similar shifts elsewhere in the region. Markets are reflecting this heightened uncertainty with continued gains for precious metals and US$ as well as oil. We expect the US$ and oil to peak before gold and its cousins do.
David Coffin: Buy these Eight Junior Miners on Dips
Posted on December 14, 2010
Michael Campbell: Hard Rock Analyst journal is produced by David and Eric Coffin and it's absolutely one of the finest pieces of work you'll find on what's going on in Gold, Silver and Copper Junior Mining Companies. They focus on …
Northern Exposure
Posted on December 3, 2010
November is a busy conferencing month due in part to post-field season confabs by the exploration community. This year marked a shift for us from Quebec's annual get together, to the one in Yukon with which it unfortunately conflicted.
What's Not To Like?
Posted on October 25, 2010
The last month was one of those classic speculative runs that makes everyone who trades resource stocks feel pretty smart. We're feeling kind of clever ourselves but we have been through enough markets to view self-congratulatory impulses with great suspicion. Mr Market loves hubris.
Tis the Season…
Posted on October 13, 2010
We are being told by both attendees and corporate sponsors that last week's subscriber session at Vancouver's Fairmont Waterfront was a great success. For that we want thank Nichola who works with us and with Keith, and Katy and Sabrina …
M&A, Area Play Driving Resource Stocks
Posted on September 24, 2010
The US unemployment numbers that came out on the day before last summer long weekend were less bad than expected. Or so the markets indicated until ISM manufacturing data in the afternoon cooled enthusiasm some.
Smoke From The Copper and Gold Markets
Posted on August 16, 2010
The dollar denominated copper price benefited from a Euro recovery beginning in mid July. Other base metals also gained from the falling Dollar. Traders had become more cautious about gold after its long uptick, but some greater comfort with the …
Global Economics and the "Baton Toss"
Posted on July 16, 2010
Recent conferencing in Toronto was another waypoint in the transit of global authority. The G8 (G7+Russia) economics discussion group began broadening a decade ago with creation of a forum of economic ministries. The western banking crisis pushed that larger forum …
Spills and Chills
Posted on June 30, 2010
On the rare occasions that political rhetoric seems to understate a problem, it's big. BP has a big problem in the Gulf of Mexico, which they are now properly laying out. Blaming the company for the spill is possibly a …
Economy, Canada Indisposable Income and the Long Road Out of Debt
Posted on June 14, 2010
The Bank of Canada just doubled its overnight lending rate, to 0.5%, and became the first G8 country to do so since the Crunch. That came after a +6% growth rate in Q1 that brings Canada’s GDP to within 0.4% …
It's a Bird, It's a Plane…It's Euro TARP!
Posted on May 31, 2010
The European Commission brought out the big guns. In a move intentionally reminiscent of the US TARP program, leaders of the continent's major economies promised to keep throwing money at the problem in bulk until some of it stuck. The …
Golden Goose vs. Black Swans
Posted on May 18, 2010
From the May 2010 HRA Journal April ushered in both broader evidence of recovery in parts of the Western economy, and a series of both ecological and economic "events" that are quite worrisome. It's unlikely any of the April events …
Resource Stock Rally: Will Treasuries Spoil the Party?
Posted on April 16, 2010
From the April 2010 HRA Journal We have to give the March tug of war to the bulls based on market levels and economic news. Those of a more ursine persuasion can still rightly point out that the rally really …
Elephant Country…
Posted on April 6, 2010
From the March 2010 HRA Dispatch David Coffin & Eric Coffin, HRA Advisories A 0.25% increase to India's bank rate last Friday coincided with a major reversal in the currency markets. The rupee closed out the day even against the …
Continuum
Posted on March 25, 2010
From the March 2010 HRA Journal The Chilean earthquake that has done so much damage in the southern area of the country also cut short the consolidation that copper's price had begun. All reports indicate that there has been little …
Metal Tiger…
Posted on March 4, 2010
A sign of the times is seen in the deal the CME Group (CME-N), umbrella for the Chicago and NYMEX commodity bourses, is buying 90% of the Dow Jones index system from News Corporation (NWS-Q). The traditional newspaper business is …
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