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Draw the Line ? Black / Grey - Demograph : Line at?? 19131 / 19104 -50-75%W : 19130 / 19104 -50-75%W : 46th, above Baltimore 19143 / 19104 -50-75%W : 45th, below Baltimore 19143 / 19146 -50-75%Hs : 19143 / 19104 -50-75%W :

ENTER the Dragon (Bagholders) ... Is this how excess supply will come in? Exposure over profit To do this, the new entrants are using a competitive bidding strategy, one that often eclipses their far more price sensitive local rivals. “Mainland developers are far more aggressive,” says Joseph Tsang, JLL’s Managing Director and Head of Capital Markets in Hong Kong. “They’re pursuing exposure over profit, and using their owned subsidiaries to win bids, build high quality stock, and muscle out the traditional Hong Kong players. In their eyes, Hong Kong is a lucrative brand asset, and a valuable stepping stone to other markets outside of China.” “Developers from mainland China are expanding aggressively overseas because of the increasingly challenging business environment back home ,” Ma confirms. “They’re picking Hong Kong because the market is hugely attractive at the moment, and fits in well as part of a wider growth strategy.” Mainland firms have proved keen to partner with smaller Hong Kong companies, matching their financial muscle with local expertise. This has kept capital flowing into Hong Kong, and provided a welcome boost for local businesses. The competition has also ensured an uptick in quality. Tsang notes that with more competitors, “local developers are becoming sharper in design, layout, and materials.” But in a market like Hong Kong, it is pricing that receives the most focus. How will this arrival of new developers impact the market? ”We’ve not seen any impact on pricing yet as the mainland players are still very new to market,” says Tsang. “However, I’m certain we’ll see an impact in 2016 and 2017 once units come onto the market. What that impact is remains to be seen.” == > MORE: http://www.jllrealviews.com/places/all-change-in-hong-kongs-property-market/?utm_source=outbrain&utm_medium=cpc&utm_campaign=APPRNews

No longer a Safe Haven? Chart from there But, it's all changed... (as Bloomberg reports) New Yorkers who want to buy a high-end retreat in the Hamptons have plenty of options to choose from. Sales of luxury homes in the area, known for its beachside mansions attracting financiers and celebrities, tumbled 16 percent in the third quarter from a year earlier to 52 transactions, according to a report Thursday from appraiser Miller Samuel Inc. and brokerage Douglas Elliman. The inventory of such properties -- defined as the top 10 percent of the market by price -- climbed 34 percent to 292. Wealthy buyers on Long Island’s East End are taking a pause after several years of heated sales, leading prices to fall as more houses come to the market. The median price of Hamptons deals completed at the luxury level dropped 18 percent from a year earlier to $5.3 million, in contrast to an increase for lower-cost homes. “People who had the cash, they came out and bought the last couple of years so they’ve kind of leveled off,” Dottie Herman, chief executive officer of Douglas Elliman, said in an interview. “They’re still here, but the demand has just gotten flatter.” > more: http://www.zerohedge.com/news/2015-10-23/international-buyer-has-been-absent-unsold-hamptons-mansions-pile-bubble-bursts

Accelerating gentrification in some old neighborhoods? Here's a point suggested by the chart. Because most of the housing in the project-based rental assistance program was created in the 1970s, it tends to be focused in cities that had matured by that time. Cities that grew during the subsequent population booms in the South and Southwest generally have fewer subsidized units. “We have a housing policy that has not kept up with the geography of poverty,” Poethig said. . . . There are currently about 1.34 million units of affordable housing created by a HUD program known as Section 8 project-based rental assistance, according to a blog post published on Wednesday by Poethig and her Urban Institute colleague Reed Jordan. More than 30 percent of those units are kept affordable by contracts that are set to expire by the end of 2017. That raises the possibility that property owners, especially in gentrifying neighborhoods, will seek to cash out, wiping affordable units off the books. "Congress doesn't let HUD do new contracts," she said. "Once a project is lost, it's lost." == > http://www.bloomberg.com/news/articles/2015-10-21/a-lot-of-cheap-housing-is-about-to-get-very-expensive

TRANSIT-ORIENTED DEVELOPMENT IN PHILADELPHIA: Using a proven strategy to create more vibrant, livable neighborhoods. Transit-oriented development was an integral component of Philadelphia’s development in the past, and deserves to be an integral approach to our development in the future. The notion of orienting residential, retail, and recreational activities to make the most of transit access is as old as some of Philadelphia’s oldest neighborhoods. Sadly, citywide disinvestment during the second half of the 20th century, combined with funding crises at SEPTA, have resulted in littleif any development near Philadelphia’s transit hubs. However, the pieces are in place to stimulate new and exciting development around Philadelphia’s transit stops in ways that make the most of the city’s urban assets and its incredible neighborhoods. The transit infrastructure is still the re--, of course, and despite past funding woes, SEPTA has continued to make large investments to maintain it. Just as importantly, the funding picture for public transportation has improved considerably as a result of this year’s budget negotiations. Philadelphia is in the midst of an extended upward trend in residential and commercial development, both in Center City as well as the neighborhoods. Existing and new residents are embracing Philadelphia’s urban renewal as a positive thing, buoyed by amenities like newly renovated parks, improved public schools and vibrant cultural options. Finally, important work isbeing done at the state level, to provide incentives and targeted funds to facilitate the connection between transit and development. . . . Executive Summary v?? density, and are designed in such a way to extract the value of good automobile access without that accessibility rendering the transit service less valuable. At the very least, parking structures could be designed to enhance the pedestrian experience, by including retail or other visually appealing uses at the street level. Barriers to Transit-Oriented Development in Philadelphia Construction costs in Philadelphia are significantly higher than those in the surrounding suburbs, making it expensive to supply Philadelphia with TOD. Furthermore, decentralization of residential, employment, and retail centers has resulted in a significant loss of population, jobs, and shopping activity in Philadelphia In Philadelphia’s case, this meant that the oldest communities that developed along the major transit lines were the most adversely affected. Thus, instead of TOD-friendly sites attracting more development, they experienced more disinvestment. Structural Hurdles • Site assembly with multiple small and/or odd-sized lots • Demolition and environmental clean-up costs • Union costs – rates and work rule changes required Governmental Hurdles • Time consuming and uncertain zoning permitting and entitled processes • Regulatory requirements with excessive costs . . . TOD, with its focus on transit access, good urban design, and multiple housing price points, could be an effective mechanism by which previously disinvested locations, such as those around MFL stations in West Philadelphia and Broad Street Line (BSL) stations in North Philadelphia and South Philadelphia, could be rejuvenated in ways that are aesthetically pleasing and that produce lively, mixed-income settings. == PDF - 2007 : http://community-wealth.org/sites/clone.community-wealth.org/files/downloads/report-voith-huong.pdf

MORE Evidence of conditions on Mars - A historical nuclear war ?? John Brandenburg | Nuclear Destruction, Ancient Civilizations, & Other Mars Mysteries "I have been told privately that there is oxygen in the Martian atmosphere. It should not be there."

Hole 12 analysis returns longest and highest grade intercepts to date SolGold Plc <IR@solgold.co.uk> Oct 19 at 11:42 PM Company Update 20th October 2015 Listed in London with exploration activities in Ecuador, Queensland and the Solomon Islands LON: SOLG GDP0.019 COB 19th Oct Market Cap COB 19th Oct GBP14.46m Cascabel Exploration Update Hole 12 analysis returns longest and highest grade intercepts to date at SolGold's flagship Cascabel Project, northern Ecuador. 1312m @ 0.67% Cu, and 0.63 g/t Au, for 1.05% CuEq The Board of SolGold (AIM code: SOLG) is pleased to provide the following exploration update for the Company's Cascabel copper-gold porphyry project in Ecuador. HIGHLIGHTS: Ø CSD-15-012 ("Hole 12") final assay results from high grade porphyry copper gold mineralisation returns world class intersection of: · 1312m @ 0.67 % Cu, 0.63 g/t Au, for 1.05 % CuEq, including: o 1002m @ 0.76 % Cu, 0.77 g/t Au, for 1.22 % CuEq, and o 576m @ 1.03 % Cu, 1.19 g/t Au, for 1.75 % CuEq. Ø Aguinaga maturing as a drill target with similar geophysical signature as the giant Alumbrera copper mine in Argentina. References to figures and tables relate to the version of this release on the Company's website (www.solgold.com.au) or visible in PDF format by following the link below: http://www.rns-pdf.londonstockexchange.com/rns/7784C_-2015-10-20.pdf Commenting on today's update, SolGold CEO and Managing Director, Nick Mather said: "Another intersection of more than a kilometre of copper and gold mineralization in Hole 12 confirms that SolGold's Cascabel Project has the potential to be one of the most significant copper-gold discoveries of recent times. The stunning chalcopyrite-bornite-magnetite mineralisation includes very high grade zones intersected on the Main Limb, and still leaves the Alpala Central system open to the north, south east, east and at depth. Importantly, this intersection in Hole 12 significantly advances our plans for the definition of a large high grade resource at Alpala Central. This is very pleasing and we also believe it bodes well for the discovery of further deposits along the Alpala Structural Zone and on the cluster of porphyry targets identified within the broader Cascabel Exploration Licence.

Silver is still in a downtrend : SLV but may be turning up now Here's that old ratio: Silver-to-TLT SLW / Silver Wheaton vs. SLV ... update : SLW : SLV : AGQ : . ========= : Origin: 10/19.midday : SLV. shares: $13.80 : $15.05 -0.23 : +00 Jan$11 : $ 2.00 : $ 4.10 - 0.22 : SLW shares: $11.80 : $13.99 -0.32 : +50 Jan$10 : $ 2.00 : $ 4.15 -0.30 : - 25 dec$10 : $ 4.00 : $ 4.15 -0.30 : - 25 Jan$14 : $ 1.50 : $ 1.32 -0.16 : ================ -----> Cost:+$0,050: $7,075 ---- : math:10375 - 3300 = 7,075

HLP / hk101 continues to outperform HLG / hk10 ... update Stock- : Low 09/29 : 10/12- : 10/19- : + Chg.- : + Pct. + HLP/101 : - $17.14 / $18.50 / $19.48 / +$2.34 : +13.7% HLG/10- : - $26.35 / $27.95 / $28.40 / +$2.05 : + 7.78% HK : HSI- : 20,557. / 22,671 / 23,076 / +2,521 : +12.3% R:101/10 : 65.05% / 66.19% / 68.59% / That 68.6% is HIGH in a historical context / well above the 52% Ratio of BKV: QTR : HK-10 : HK101 : Ratio- : -CCLI - : hlp/CC : e.13: $39.15 : $24.50 : 62.80% : 118.96 : 20.60% : Q-1 : $39.05 : $22.30 : 57.11% : 118.82 : 18.77% : Q-2 : $41.95 : $23.90 : 56.97% : 123.35 : 19.38% : Q-3 : $38.45 : $22.10 : 57.48% : 127.65 : 17.31% : e.14: $35.20 : $21.75 : 61.79% : 133.34 : 16.31% : Q-1 : $35.35 : $21.80 : 61.67% : 142.64 : 15.28% : Q-2 : $34.15 : $23.05 : 67.50% : 143.15 : 16.10% : Q-3 : $26.30 : $17.36 : 66.01% : 147.61 : 11.76% : Lowest ratio vs CCLI e.15: BkV. : $56.86 : $29.50 : 51.88% 10.19: $28.40 : $19.48 : 68.59% : 144.61 : 13.47% :

The Brio in Makati Pricelist : August 2014 > http://manila.locanto.ph/ID_334595244/Condo-in-Makati-Preselling-BRIO-Tower-First-DMCI-in-Makati-City.html > SSC: http://www.skyscrapercity.com/showthread.php?t=1549467

Aussie Mining & Explor. co's: AWV, MLM, NUS, etc http://tinyurl.com/Mining-121 Following are my remaining OZ STOCKS... CHARTS: 1 year: from 3.1.2020: 10d / AWV: 0.022, NUS: 0.275, MLM: 0.042. AGE: 0.014 Apart from AGE, the Uranium stock, it looks like I need an upwards move in Gold Golden Nuggets from this week's 121 Conference here stocks: CGN.au/ Crater, R.t/ Red Eagle, SAU.au/ Southern Gold, KIM.au/ Kin Gold, TYX.au/ Tyranna 5-yr Weekly - Updated to 10/11/2017 ... 12-mo-(5 co's) : 3-yr : 5-yr // 2017: #1 , #2 : updated share prices, after two years CGN.au was A$.105, hit A$.155, now: A$0.010 = -90.5% at 10/11/17 RD.t : was C$0.31, hit C$1.05, now: C$0.275 = -11.3% at 10/11/17 (symbol is now R.t) KIN.au was A$0.10, hit A$0.45, now A$0.275 = +175.% at 10/11/17 SAU.au was A$0.20, hit A$0.45, now A$0.280 = +40.0% at 10/11/17 TYX.au was A$0.030, hit A$.048, now A$.015 = - 50.0% at 10/11/17 AWV.au was A$0.054, hit A$0.19, now : $0.093 = +72.2% at 10/11/17 "Cheap & interesting charts" from 121's 2017 Conference ===== #1 (alg, aqx, bay, blk, crb), #2 (erm, ggg, mlm, nzc, pnx, tlm), out: dmi ===== ALG.v / Algold Res. : Gold, Mauritania : $21M : A$0.175 AQX.a / Alice Queen : Gold, Cu., Aust. : $ 7M : A$0.049 BAY.v / Aston Bay : Cu, Zinc, Can. : $ 9M : C$0.11 BLK.a/ Blackham R : Gold, Australia : $52M : A$0.23 CRB.a/ Carbine Res: Gold, Australia : $11M : A$0.07 / Q2 rept: http://carbineresources.com.au/2017-q2-quarterly-report/ DMI.v / Diamcor Mn : Diam., S.Africa : $34M : A$0.485 ERM.a / EmmersonR : Gold, Cu., Aust. : $32M : A$0.094 GGG.a / Greenland : RareE.,U, Grnld. : 109M : A$0.105 MLM.a/ Metallica M: Baux, Graph.,Aus: $17M: A$0.053 NZC.a / Nzuri Copr. : Cu, Cobalt, DRC : $39M : A$0.15 PNX.a / PNX Metals: Au, Ag, Cu, Aus. : $ 7M : A$0.013 TLM.a / Talisman M. : Nickel, Australia : $36M : A$0.255 ===== 1/ Crater Gold / au:CGN (now $0.105) : 12-mos 3 yrs: was A$.105, hit A$.155, now: A$0.010 = -90.5% at 10/11/17 Write-up is Attached. This is a sort of Orinoco Gold #2,. and many of the same people are involved I just agreed to invest $15k at 8 cents. MktCap is less than $15mn, with similar size CF expected next year, and beyond 2/ Red Eagle / ca:RD (now $0.31) - My favorite story from the Conference ... 12-mos : 5 yrs: was C$0.31, hit C$1.05, now: $0.275 = -11.3% at 10/11/17 You have to buy in the market. The Howe st Brokers don't like them, since they did 5-6 placements without brokers, and so are under-followed. They will be in production in mid-2016. They have the license and a $60mn financing commitment they will start to draw down next month. At $1100 gold, they expect to have $50mn pa CF, and current Mkt Cap is about $50 Mn. They are in Columbia, and will be the first new mine there 3/ Southern Gold / au:SAU (now $0.02 = A$0.20 in 2017) - Microcap, with interesting story and upside ... 12-mos 5 yrs: was A$0.20, hit A$0.45, now A$0.280 = +40.0% at 10/11/17 Simon Mitchell remembers 'a friend in Oz' from "the Korean gold deal", and felt bad about leaving that company when he did after having had a dispute with the chairman. This company he now runs is being "reinvented". They have a JV with Metals-X to mine a small pit, and that will soon be expanded to a larger pit thanks to an amendment to the JV - and that larger pit may expand production by 3X or 4X. He wants to drill underneath the pit ASAP, and would like to raise may $2-3million to do that and some other work. If he waits until the cash flow is earned next year, they will lose certain flexibility in mine development. He is also looking to do some similar deals in the same area, and has some transactions like that under discussion. 4/ Kin Mining / au:KIN (now $0.10) : Co. formed in merger of two others. I met Ian Finch ... 12-mos 5 yrs: was A$0.10, hit A$0.45, now A$0.275 = +175.% at 10/11/17 These guys are in Perth. Terry T, ex-Rumble guy is involved. Their exploration story and some near term ideas make sense. They are like Southern Gold, but before the Metal-X JV. Since they are in Perth, i suggested you should meet them, and they were interested. They could probably use your help in future financings, if you like the story. 4/ Tyranna Gold / au:TYX (now $0.03) ... 2-yrs : 12-mos : 5 yrs: was A$.105, hit A$.155, now: A$0.010 = -90.5% at 10/11/17 interesting but complex story. They have essentially surrounded the Challenger mine, and control 51% of a JV, which may allow then to do a high accretive deal to takeover the Challenger mine, and they can use the plant to process Gold in a nearby JV deposit. Let me know if you want intros Fingers crossed on this one, which I own: AWV.au / Anova. (now $0.054) ... 4-yrs : 4yrL : 2-yrs ... 12-mos : 10d : 5 yrs: was A$0.054, hit A$0.19, now: $0.093 = +72.2% at 10/11/17 : try 7 cents?? Presentation : March 2017: http://anovametals.com.au/wp-content/uploads/2017/03/2017-03-14-AWV-Presentation_HighRes.pdf Annual Report to 6/30/17 : http://anovametals.com.au/wp-content/uploads/2017/10/Anova-AR-2017.pdf Waiting and thinking we will see a chart breakout any day on Anova. M. === > Hot Copper chat: https://hotcopper.com.au/ > LINK to here -----> http://tinyurl.com/Mining-121

Note from Tony C's Blog Re; FORECLOSURES - Good or Bad News ? Dex T says: October 15, 2015 at 9:49 am Foreclosure crisis lingers: Repossessions spike 66% “Bank repossessions, the final stage of the foreclosure process, jumped 66 percent year over year in the third quarter of this year, according to RealtyTrac, a foreclosure sales and analytics company. It’s the largest annual rise ever recorded in bank repossessions by RealtyTrac. More than 123,000 homes went back to the bank in just three months.” http://finance.yahoo.com/news/foreclosure-crisis-lingers-repossessions-spike-040100686.html# Reply CampFreddie says: October 15, 2015 at 10:46 am The final capitulative purge, very bullish indeed imo. tommyboys says: October 15, 2015 at 11:00 am This is only because of the “stops” they were required to put into the system over the past half decade. These are all expiring now so the houses that should have been taken back 3-4-5 years ago are now available to do so. Media loves to scare joe six pack – again fear sells. Stop buying/spreading fear. OK that’s definitely last post

Note from Tony C's Blog Re; FORECLOSURES - Good or Bad News ? Dex T says: October 15, 2015 at 9:49 am Foreclosure crisis lingers: Repossessions spike 66% “Bank repossessions, the final stage of the foreclosure process, jumped 66 percent year over year in the third quarter of this year, according to RealtyTrac, a foreclosure sales and analytics company. It’s the largest annual rise ever recorded in bank repossessions by RealtyTrac. More than 123,000 homes went back to the bank in just three months.” http://finance.yahoo.com/news/foreclosure-crisis-lingers-repossessions-spike-040100686.html# Reply CampFreddie says: October 15, 2015 at 10:46 am The final capitulative purge, very bullish indeed imo. tommyboys says: October 15, 2015 at 11:00 am This is only because of the “stops” they were required to put into the system over the past half decade. These are all expiring now so the houses that should have been taken back 3-4-5 years ago are now available to do so. Media loves to scare joe six pack – again fear sells. Stop buying/spreading fear. OK that’s definitely last post

Thanks to Ben S. This is very interesting and could be highly significant - see also the comments below. > http://gizadeathstar.com/2015/10/rossis-cold-fusion-patent-granted-us-patent-no-9115913/ ROSSI’S COLD FUSION PATENT GRANTED: US ... Posted on October 10, 2015 by Joseph P. Farrell • 14 Comments There has been another little "drip" of information concerning alternative energy sources, in this case, cold fusion, with the grant of a patent to Italian cold fusion researcher Dr. Andrea Rossi, whose story we have intermittently followed on this website.This story, shared by Mr. K.H., is worth studying carefully for any number of reasons, but primarily we're interested in two main approaches: (1) the general principles of patent law in the western tradition of jurisprudence, and (2) the actual claims of Rossi's patent itself. On both counts, the story is significant; here's the article: Analysis of Rossi US Patent 9,115,913 issued 25Aug15 Part 1 You'll note first of all that some of Rossi's patents have been non-published for various reasons, some having to do with legal and treaty provisions of the status of patent filings in several countries simultaneously. Additionally, you'll note that under U.S. patent law, there is no necessity nor need - thank goodness - to provide a comprehensive theory as to what a certain device works.

MORE articles from earlier this year WSJ : Property Zooms Ahead in Philippines Overseas workers, employees in outsourcing fuel residential demand New residential and commercial developments are springing up in Manila. Photo: TREFOR MOSS/THE WALL STREET JOURNAL Trefor Moss / April 7, 2015 1 COMMENTS MANILA—Neighborhoods inspired by Beverly Hills, fast-rising office towers and swanky malls resembling landmarks like St. Mark’s Square in Venice: It might sound like China circa 2005, but this is the Philippines in 2015. The real-estate sector here is enjoying a boom as new property floods a market usually stifled by low prices and developers notorious for completing projects years behind schedule. Note: Office Growth can underpinned Growth in Residential demand Now, supply and demand are rising fast as the national economy grows reliably at 6% to 8% per year. Property values are increasing steadily, drawing investors. And cash-rich developers, backed by some of the country’s biggest conglomerates, are having an easier time delivering on their promises. In a metropolis clogged with traffic and where millions still live in slums, Manila’s affluent buyers particularly favor newly built “townships”—self-contained districts where homes, offices, shops and schools are packaged together in tidy, linked communities, said Jericho Go, senior vice president at Megaworld Corp. , the real-estate subsidiary of the Alliance Global Group == > http://www.wsj.com/articles/property-zooms-ahead-in-philippines-1428423295 / 2 / Property expert warns of oversupply (in Cebu) CEBU’s real estate industry is at the risk of facing a glut with the “oversupply” of residential projects, according to an industry official. Colliers International research and advisory services director Julius Guevara raised this during the recently concluded Cebu Property Summit at the Radisson Blu Hotel. “It’s easier for a glut to develop here in Cebu because there’s a lot of participation, compared to Metro Manila where land (is mainly in the hands) of big developers or the government,” Guevara told local industry officials. With property development being one of the most attractive investments today, Guevara said more affluent families in Cebu have expanded their business lines to real estate. However, he advised small and new property players to conduct intensive market research before they decide to venture into real estate development. == > http://www.sunstar.com.ph/cebu/business/2015/07/20/property-expert-warns-oversupply-420010

Glenn Mullan’s Golden Ticket: Abitibi Royalties Sept. 2015 update POSTED ON September 09, 2015 BY Tommy Humphreys Glenn Mullan, Chairman of Abitibi Royalties $RZZ is here. In an efficient 30-minute interview, Abitibi Royalties Chairman Glenn Mullan laid out a map of the Canadian Malartic project, the largest gold mine in production in Canada. Mullan’s Abitibi Royalties owns a 3% NSR on portions of the mining operation including Odyssey, a promising new discovery area. Recent share price: $2.49 Shares outstanding: 11 million Market capitalization: $27.2 million Cash balance: $2 million Marketable securities: $26 million (paying $400,000+ in dividends each year) * All figures approximate What Glenn Mullan is saying: – Abitibi has low overhead and a goal of decreasing shares outstanding through buybacks. – Yamana ($YRI) and Agnico Eagle’s ($AEM) Canadian Malartic gold mine is the largest in Canada (550k oz Au production annually and 16-year mine life) with exceptional community support. Mr. Mullan lives about 20 minutes away in Val D’or. – Mullan’s Golden Valley Mines ($GZZ.V) staked a significant area adjacent to Canadian Malartic in 2006 and spun out its interest to Abitibi Royalties in 2011. – in 2014, Ian Ball, a young mining executive with close ties to Rob McEwen, joined as the company’s president. McEwen has an approximate 8.7% interest in the company. Ball subsequently became CEO in 2015. – The Yamana-Agnico Eagle JV that operates Canadian Malartic is hosting an analyst tour later this month. Mullan is optimistic the joint venture will release exploration results from the newly discovered Odyssey Zone, which Abitibi holds a 3% NSR royalty on, prior to the site tour (while he makes no guarantees of this) – Material from Odyssey appears to be 2 g/t gold versus an average of about 1 grams in the current mine. Plus, the results are over significant 40-60 metre widths. Canadian Malartic’s 55,000 ton per day mill has an insatiable appetite for ore, and Mullan is optimistic Odyssey could host 1 million ounces of gold or more. There is no other brownfield exploration taking place at the mine. – Odyssey will see $3-4 million in exploration this year according to an April news release. Mullan expects the exploration and development of the discovery to play out over 3-5 years. – The Canadian Malartic JV is serious about Odyssey, having converted Abitibi’s 30% free carried interest into a 3% NSR and issuing $35 million worth of stock in March 2015. – Abitibi’s royalties on the Canadian Malartic camp, excluding any material from Odyssey, cover an area with approximately 400,000 ounces of gold which will start in approximately 2 years and run for 3 years. – Glenn previously took Canadian Royalties’ Nunavik nickel project from discovery through to production. Though he never sold his stake, Glenn lost control of the company to a Chinese group. The control losing lesson caused him to spin out the Canadian Malartic assets from Golden Valley Mines for a 51% stake in Newco (Abitibi Royalties). “Anyone who wants to take over Abitibi will have to come through Golden Valley’s front door,” Mr. Mullan said. Mullan is also Golden Valley’s CEO. – Abitibi is looking to grow its royalty portfolio and is evaluating royalties at all stages, from grassroots – Mr. Mullan’s specialty – to the more advanced stages, including production. The company will consider royalties in any commodity. – One of the CEO.CA readers asked about a success fee paid to members of Abitibi’s management of about $3.5 million. Mullan explained nobody at the company received compensation from 2011-2014. The fee was comparable to what a financial adviser would have received for structuring the $35-million 3% NSR deal with Agnico Eagle and Yamana. The fee will only be paid out of cash flow when the company has the capacity to pay it, and can’t be paid out of financing proceeds. – Mullan would prefer to sell Abitibi’s marketable securities to raise cash to acquire royalties rather than issue shares. – Abitibi is trying to cultivate a shareholder base with faith in management. “Survival is the key to success in mining,” Mullan said. Abitibi’s long-term vision, according to the May 2015 Shareholders Letter): Share structure: It has a small number of shares outstanding. Investors who purchase shares become partners in the business. They are also treated like partners. Per share value: The company generates meaningful cash flow on a per share basis. Physical gold: The company takes a portion of its royalty income in gold bullion, which would continue to grow each quarter. This should also defer tax. A goal of share buybacks, a strategy few mining companies follow. Exploration: Provides exposure to exciting discoveries. Growing the business: Continually builds its royalty portfolio through cash flow or other creative means. What the market will be focused on: Exploration results from Odyssey Leverage to gold price New royalties How to get more information: $RZZ on TSX-Venture Exchange http://www.abitibiroyalties.com/investors/presentations/RZZ-1-Sept-2015.pdf http://www.abitibiroyalties.com/

A Cautious note (from May 2015)... a big jump in offices supplied into 2018 CBD condos delayed on glut worries -- Colliers Posted on May 14, 2015 DEVELOPERS have delayed residential projects in the major business districts on concern over a possible glut, while the supply of new office space is expected to peak in the next three years, according to Colliers Philippines. Cityscape of Makati Central Business District -- BW File Photo Oversupply worries in the condominium market led developers to delay completion of some projects, Colliers, a property consultancy, said in its first quarter research and forecast report. “We see a delay in some of the units slated for 2015... so there is an increase in new stock in 2016 and this has a positive effect in occupancy rates,” Julius M. Guevara, Colliers head of advisory services, said in a briefing yesterday. Still, a total of 31,000 residential units are expected to be delivered in the next three years with nearly 40% of the figure expected by 2016, Colliers data showed. In the first quarter, the pre-selling residential market in Metro Manila suffered a 46% year-on-year drop in launches, as take up declined by 7.6%, Mr. Guevara said, noting that this has been the trend since two to three years ago. Likewise, the Housing and Land Use Regulatory Board issued only 48,411 property licenses in the three-month period, only half of the volume in the same period last year with significant decreases seen in the applications of nearly all segments with the exception of non-residential uses. “2012 was a special year -- there were a lot of interesting projects and given the low interest rate environment, investors were looking at alternative assets to invest in. It’s a buyer’s market and they are waiting for the new developments to be finished before they make their next purchase,” Mr. Guevara said. Asked to expound on the oversupply in the market, Mr. Guevara said: “For the rental market, we have seen unprecedented levels of construction and completion in the main CBDs (central business districts). It will be more challenging for an investor [to lease out their units] just because of the number of units that will be completed.” In contrast, real estate firms are ramping up the construction of their office projects in the CBDs with new office supply expected to peak from 2015 to 2017. “75-80% of that will be taken by the [business process outsourcing] sector,” Mr. Guevara said. Developers will add 576,439 square meters (sqm) of office space this year, 648,604 sqm in 2016 and 856,104 sqm in 2017 before dropping to 280,465 sqm by 2018, Colliers data showed. The report covers new office supply in Makati City, Ortigas, Fort Bonifacio, Eastwood, Alabang, Mandaluyong City, Quezon City and Pasay City. -- Krista Angela M. Montealegre > http://www.bworldonline.com/content.php?section=Economy&title=cbd-condos-delayed-on-glut-worries----colliers&id=108004

Another Bullish E-Wave count for Gold ... Larger Image > https://caldaro.wordpress.com/2015/10/13/tuesday-update-511/#comments Also : ST E-wave count, suggesting the current rally may go to $1220+ If right, that we may see a leap above Key Resistance at $1175 very soon

New data suggests Mars had lakes that could have supported life Engadget - ‎21 hours ago‎ . If you asked most star-gazers about water on Mars a month ago, you'd likely be told there is evidence for liquid H2O in the past, but it's probably long gone. . . . Curiosity has been investigating sedimentary rock around an area known as the Gale crater. The depth of the crater, and the fine-grained sandstone at the bottom hint at a large, lake-like body of water that remained over an extended period of time. This, in turn, adds fuel to the theory Mars once had the right atmospheric pressure, and a climate that didn't cause water to freeze. The question about water on Mars, of course, is really a preamble to the question about the red planet's ability to support life. Curiosity's findings can't confirm life on Mars, but they do suggest the essential ingredients for biological soup (water and microbe-friendly conditions) were there.

UK Property - an Amber light has flashed ! (today) PSN.L / Persimmon Plc ... 12-mos : All-data : 10d: 1915p - 32p - 144d MA is broken An amber, rather than Red light, because BDEV holds up BDEV.L / Barratt Dev'l ... 12-mos : All-data : xx

Paul Hodges Interview: UK house prices could fall 50% in global ‘Great Unwinding Published on Sep 18, 2015 Paul Hodges Talks to Merryn Somerset Webb about the global economy’s ‘Great Unwinding’, and how Britain’s house prices could fall 50%

HOW DENSE? Is Manila most densely populated place on Earth? Great density, without good public transport, is not a formula for happy living. And Manila is not an easy place to drive (maybe the worst in the world) (I had this message by email): I read somewhere that Manila City has the highest density of population in the world. I could hardly believe it so I checked on internet and wikipedia says the same thing. Not only Manila City has the highest, but the second and third cities in the world are also cities of Metro Manila (Pateros and Caloocan). Makati City is the 30th. No doubt, they do need public transportation... https://en.wikipedia.org/wiki/List_of_cities_by_population_density = unquote = Looks dense, but looks less dense than Makati. Makati has mostly Office space and something like 1 mn people work there: COMPARISON No. : City---- : Population : Area-km: Area-mi: D./km2: D./mi2 : Country #1 : Manila-- 1,652,171 [1] 38.55 [2] 14.88 42,857 111,002 : PH #2 : Pateros 64,147 [1] 2.10 [2] 0.81 30,546 79,114 : PH #3 : Calooca 1,489,040 [1] 53.34 [2] 20.6 27,916 72,302 : PH #9 : Delhi 11,007,835 [6] 431.09 [9] 166.4 25,535 66,135 : IN 24 : Pasay--- 392,869 [1] 19.00 [2] 7.34 20,677 53,554 : PH 28 : Macau 591,900[22] 29.90[23] 11.54 19,796 51,271 : CH 30 : Makati 529,039 [1] 27.36 [2] 10.56 19,336 50,080 : PH MAKATI has seemed like a relative "Oasis" in PH, but it is building up fast! Will it become over-crowded, and less livable, driving people to move to BGC or elsewhere?

This change of opinion might have helped a bit... But not a lot, since HLP has been riding the trend of HSI, and other property shares HLPPY - : Low (09/29) US$11.38: US$ (10/09): US$11.79: +3.60% HLP/101 : Low (09/29) : $17.14 / Last (10/12) : $ 18.50 : + 7.93% HLG/10- : Low (09/29) : $26.35 / Last (10/12) : $ 27.95 : + 6.07% HK : HSI- : Low (09/29) : 20,557 / Last (10/12) : 22,671 : + 10.3% R:10/101: Low (09/29) : R1.537 / Last (10/12) : R1.511 : - 1.70% R:hsi/101: Low (09/29) : R1,199 / Last (10/12) : R1,225 : + 2.21% Hang Lung Properties Limited Stock Rating Upgraded by Zacks ... Financial Wisdom Works-1 Oct 2015 Hang Lung Properties Limited logo Hang Lung Properties Limited (NASDAQ:HLPPY) was upgraded by Zacks from a “strong sell” rating to a ... Shares of Hang Lung Properties Limited (NASDAQ:HLPPY) traded down 0.18% during midday trading on Tuesday, reaching $11.38. The company’s stock had a trading volume of 4,913 shares. The company has a 50 day moving average of $11.56 and a 200-day moving average of $14.20. Hang Lung Properties Limited has a 52 week low of $10.85 and a 52 week high of $17.12. The stock has a market capitalization of $10.21 billion and a price-to-earnings ratio of 7.00.

A Difference of Opinion: Natixis Sees Gold Averaging $990 In 2016, Pressured By U.S. Interest Rates, Dollar - Kitco News, Oct 9 2015 12:14PM UBS Sees Gold Averaging $1,250 In 2016; Any Weakness ‘Unlikely To Be Sustained’ - Kitco News, Oct 9 2015 8:54AM === === . . . BEAR: Natixis sees gold prices averaging $990 an ounce in 2016 on expectations for higher U.S. interest rates and strength in the U.S. dollar, the French bank said in a report released Friday. U.S. interest rates are likely to be the single biggest driver of gold next year, Natixis said. “The U.S. economy is growing and is expected to continue to do so into 2016-17,” Natixis said. “A strengthening dollar and higher yields could continue to contribute to the lowering of gold prices, especially considering the fact that rising interest rates increase the opportunity cost of holding gold. Loose monetary policies in Europe and Japan will help weaken these currencies versus the dollar, which will further strengthen the greenback.” Gold, like many other commodities, tends to be benefit when the U.S. dollar sags but conversely be hurt by dollar strength. The firm looks for demand from central banks and China to be weaker than past years. “On a more supportive note for gold, Indian demand for the metal is expected to rise next year as the economy continues along its growth path,” Natixis said. “Indian demand for gold is positively correlated to higher GDP, spending power and the monsoon.” For 2017, Natixis said the average gold price could rise back above $1,000 again. “Prices are expected to rise as mine supply starts dropping due to strong cuts in capex over the previous five years,” the firm said. Natixis looks for silver to follow gold in reaction to the U.S. macroeconomic picture. . . . BULL: UBS looks for gold prices to rebound into next year as real interest rates remain subdued compared to past cycles, maintaining its call for the metal to average $1,250 an ounce in 2016. The bank downwardly revised its 2015 forecast to $1,170 an ounce from $1,190. Meanwhile, UBS trimmed its 2016 silver forecast, although the bank still looks for price appreciation next year. The bank also sees higher prices for platinum group metals. “We maintain our core constructive view, expecting gold to stabilize and eventually recover up ahead,” UBS said in an outlook issued Friday. “We think that gold has already done a lot to adjust to the current macro environment and anticipate further changes. We expect any downside from here to be ultimately contained.” Expectations for higher interest rates have previously hurt gold. However, UBS said, there is potential for real rates to be lower compared to previous cycles and market expectations, which would mean a friendlier environment for gold than what currently appears to be priced into the market. “Against the backdrop of broader macro uncertainty, light positioning suggests that there may be an opportunity for longer-term investors to rebuild positions,” UBS said.

Interesting. "They offered to pay three months' deposit" Would you have accepted 6 months ahead? (I have had to do that, when I rent without a salary)