Weekend Show – Sat 13 Apr, 2019

Hour 1 – Balancing Upward Momentum For US Stocks vs The Range Bound Metals Sector

Full Extended First Hour

It was another week where US markets moved higher, closing in on all time highs, and metals remained range bound. In this week’s show we spend a fair bit of time discussing the overall strength of market recovery and how much further it could go. We also get some comments on where metals investors can find opportunities.

Please keep in touch by emailing me at Fleck@kereport.com. I love hearing from all of you regarding companies you like and topics you would like to see discussed on the show.

  • Segment 1 – Rick Bensignor, Editor of Bensignor Investment Strategies shares his thoughts on the US markets, bonds, and commodities. If you want more information on Rick’s institutional letter of his reports for individual investors please email me and I’ll put you in touch.
  • Segment 2 – Adrian Day, CEO of Adrian Day Asset Management looks into the sectors where he still sees value in the broad markets. We also discuss the metals sector and some investing opportunities.
  • Segment 3 – Dana Lyons, Fund Manager, weighs in on the US markets, bonds market, and metals markets.
  • Segment 4 – Jeff Christian, Managing Partner of the CPM Group explains the problems that the current trading environment for metals is for the individual investor.

Exclusive Company Interviews This Week and Stock Commentary

Rick Bensignor
Adrian Day
Dana Lyons
Jeff Christian

  1. On April 13, 2019 at 4:05 am,
    CFS says:

    2019-04-12 07:36 ET – News Release

    Dr. Quinton Hennigh reports


    Miramont Resources Corp. has received final assays from its 3,679-metre diamond drill program at its Cerro Hermoso polymetallic project located in southern Peru. Results include 249 metres of 0.68 gram per tonne gold equivalent including 1.95 m of 28.4 g/t Au equivalent in hole CH-009 (please refer to a table of results and a plan map on the company’s website which shows the location of drill holes).

    Thanks, as ever, for the show and this forum.

  2. On April 13, 2019 at 5:08 am,
    Excelsior says:

    Was Thursday’s Sharp Decline a One and Done?

    April 12, 2019 – Gary Wagner #TechnicalAnalysis #Charts #Video


  3. On April 13, 2019 at 5:40 am,
    Excelsior says:

    Platinum edges out of doldrums at last as labor threat looms

    Bloomberg News | about 20 hours ago


    • On April 13, 2019 at 5:44 am,
      OOTB Jerry says:

      In one of the clearest signs of changing sentiment, holdings in platinum-backed ETFs have surged dramatically. The funds have added about 20 tons of metal this year and reached a record earlier this month.

      • On April 13, 2019 at 5:49 am,
        Excelsior says:

        As we’ve discussed, Platinum was due for a reversion to the mean in relation to it’s pricing compared to Palladium and Gold. It is finally on the move once again, which is a good sign.

      • On April 13, 2019 at 5:54 am,
        Excelsior says:

        SQM to acquire 80% interest in Revelo’s copper projects in Chile

        MINING.com Staff | about 23 hours ago


        • On April 13, 2019 at 5:58 am,
          Excelsior says:

          Lithium Giant (SQM) Lifts Outlook With 2018 Fizzle in Rear-view Mirror
          Bloomberg News | a day ago

          “Santiago-based Soc. Quimica y Minera de Chile SA will exceed its sales target of just under 50,000 tons of lithium as output ramps up at its operations in the Atacama salt flat, according to the company’s commercial vice president of lithium and iodine Felipe Smith.”


        • On April 14, 2019 at 11:21 am,
          Dick Tracy says:

          I read a little about SQM’s deal with Revelo when it first came out, It seems they can walk away at anytime, and they didn’t state how much was payable each year. I don’t like wish washy arrangements. DT

          • On April 15, 2019 at 8:28 pm,
            Excelsior says:

            Most of these arrangements have a break clause or way to get out of the deal by paying a fee, but SQM is a large player and it seemed significant that they were simultaneously expanding their Copper & Lithium exposure.

      • On April 13, 2019 at 1:30 pm,
        OOTB Jerry says:

        The United States gets 31% of its palladium and 44% of its platinum from South Africa; Russia supplies 28% of US palladium needs.
        info…..from rick……………..

        • On April 13, 2019 at 1:31 pm,
          OOTB Jerry says:

          According to the US Geological Survey, the supply of PGEs from South Africa, the number one producer, is anything but guaranteed. Last year production there fell compared to 2017, owing to jobs cuts and mine shaft closures – a trend that is likely to continue.

  4. On April 13, 2019 at 5:48 am,
    Excelsior says:

    (ORE.AX) (ORL) (OROCF) and #Toyota green light #Lithium hydroxide plant in #Japan

    Northern Miner Staff | about 16 hours ago

    “The majority of #production will feed the Japanese #battery industry and will be sourced from the lithium carbonate produced from the phase two expansion of Orocobre’s Olaroz mine in northern #Argentina’s Jujuy province.”


  5. On April 13, 2019 at 6:02 am,
    Excelsior says:

    Cobalt, Uranium and Silver prices expected to rally in 2019

    Frik Els | a day ago

    “A new report by FocusEconomics on the prospects of commodities this year and next paints a mixed picture. The survey of investment banks, institutions and research houses compiled by the Barcelona-based company has good news for long-suffering investors in uranium and silver, while those who burned fingers in the rise and fall of cobalt could also look forward to some relief.”


    • On April 13, 2019 at 6:14 am,
      OOTB Jerry says:

      Silver’s continued underperformance – it was back below $15 again Thursday – has been a real disappointment with the precious metal failing to capitalize on shrinking mine supply, the fact that half of overall demand is from industry (and a good chunk of that from green energy). Silver is set for a double digit percentage rebound from today’s levels with the more bullish forecasters including TD Securities, BNP Paribas and Goldman Sachs, seeing a return to $17-plus during the final quarter of this year.

      • On April 13, 2019 at 9:33 am,
        Excelsior says:

        Even though I’m more interested in the leverage Silver miners can provide; Gold is the prime mover. When the yellow metal starts running higher and finally takes out $1377 on the next impulse leg higher, it will drag Silver’s sorry butt with it, along with the miners.

        Gold needs to prove it to the money on the sidelines first, and then the speculative rush will begin.


        • On April 13, 2019 at 9:37 am,
          Excelsior says:

          There is no doubt there has been carnage, and 2018 was a tough year and worse than most expected. There were still a few bright spots like the Q1 run where Gold made it up all the way to $1369.40 but didn’t take out the 2016 high.

          Having said that, things were still so much worse and more bleak back in 2015, and the mining indexes haven’t even made a round trip back down, much less start breaking lower to new lows.

          Some individual stocks broke lower, but others like the Aussie gold stocks, or Atlantic Gold, Silvercrest, Westdome, or K92 have been steadily breaking out. It has really been a stock pickers not a dart throwers market, where only the best performance is getting any love from the market.
          There have been several dozen flavor-of-the-month #exploration stocks that also had massive pops (before massive drops), on drilling dreams & schemes, but we need a larger rising tide.”

          Gold needs to move higher to create the upward momentum and then the miners and Silver will play catch up and outperform.

          Ever Upward!

          • On April 13, 2019 at 9:48 am,
            Excelsior says:

            Really since Gold bottomed at the end of the Summer Doldrums last year in early August, and then the miners bottomed in September and have in general trekked a bit higher since then.

            Gold put in an intermediate bottom like it has 12 out of the last 15 years at the end of the #SummerDoldrums. In 2018 it was in early August, (it’s often in July), and it took the miners another month to get the memo. There is typically a large rally in the miners in September. It hasn’t been a raging bull market since Sept, but it has still been constructive since then.

            > 40 year #Gold #Seasonality #Chart


          • On April 13, 2019 at 9:49 am,
            Excelsior says:

            $GDX Chart showing uptick since the end of the Summer Doldrums last year.


          • On April 13, 2019 at 9:50 am,
            Excelsior says:

            $GDXJ Chart showing similar uptick since the end of the Summer Doldrums last year.


          • On April 13, 2019 at 10:08 am,
            Excelsior says:

            Comparatively, GDX rallied much harder out of the end of last summer through present, than the GDXJ “Junior” index.

            As we all know the GDXJ index is really mid-tiers & majors” but still it has not been nearly as peppy and it took more time to get engaged in the fall and then has pulled back more. At least the market’s perceptions of the Jrs are worse than the Majors.

    • On April 13, 2019 at 4:56 pm,
      Excelsior says:

      Brandon Munro: The Uranium Bull Market Has Only Just Started.

      0:45 – Brandon recalls the last uranium bull market.
      2:30 – Similarites between this market and the last.
      4:15 – Why price doesn’t really matter at this level.
      7:10 – Overcoming the thirty dollar price barrier.
      9:00 – Effects of Fukashima on pricing and supply.
      13:00 – Uranium supply deficit increasing.
      15:00 – Possible risks in the uranium market.
      17:30 – China’s needs for nuclear.
      19:30 – Uranium and why it’s an opportunity now.
      20:00 – Section 232 and US production of uranium.

      Talking Points From This Week’s Episode
      • Thoughts from the last uranium bull run.
      • Recent price action is still way too low.
      • Investors are waiting on the Section 232 announcement.
      • Nuclear is still a growth story.


      • On April 13, 2019 at 8:18 pm,
        Excelsior says:

        Uranium is Going to Pop Violently to the Upside, Says Mickey Fulp

        SmallCapPower – Feb 11, 2019

        “In this interview with SmallCapPower at the 2019 Vancouver Resource Investment Conference (VRIC), Mercenary Geologist Mickey Fulp talks about why he thought 2018 was “horrible” for resource stocks, why he’s still bullish on uranium, and why he believes 2019 will be a good year for gold.”


  6. On April 13, 2019 at 6:08 am,
    OOTB Jerry says:

    EX…….Thanks for all the Info………appreciate……….JOOTB

    • On April 13, 2019 at 9:28 am,
      Excelsior says:

      10-4 Good buddy. Always glad to share a few ideas. 🙂

  7. On April 13, 2019 at 6:21 am,
    OOTB Jerry says:

    Here is your milk for today………..going 5G……..
    Nick Chrissos, the person responsible for designing the smart farm, who works for Cisco Systems, said: “We can connect every cow, we can connect every animal on this farm. That’s what 5G can do for farming — really unleash the power that we have within this farm, everywhere around the UK and everywhere around the world.”

    • On April 13, 2019 at 6:23 am,
      OOTB Jerry says:

      Dick Tracy should like the above info……. 🙂

      • On April 13, 2019 at 8:39 pm,
        Dick Tracy says:

        Hi Jerry, isn’t that what George Orwell was talking about when he wrote “Animal Farm” in 1948. LOL! DT

        • On April 13, 2019 at 9:10 pm,
          OOTB Jerry says:


  8. On April 13, 2019 at 12:01 pm,
    Charles says:

    Did anyone pick up the name of the first business development company Adrian Day mentioned? I could not hear the name or find a ticker for what I thought I heard.

    As Always, thanks to Al and Cory for the great show and guests!

    • On April 13, 2019 at 5:40 pm,
      Excelsior says:

      It sounded like Glassen Investments, but I couldn’t find it in searches either. Looks like I’ll have to make my cheddar in mining stocks instead of dividend plays for now…. 🙂

    • On April 14, 2019 at 6:16 am,
      Maddshasta says:

      I believe it was Gladstone Capital Corporation. Symbol GLAD.

      • On April 14, 2019 at 9:05 am,
        Excelsior says:

        Ah. Much appreciated Maddshasta.

      • On April 14, 2019 at 2:52 pm,
        Charles says:

        Many thanks Madshasta!!

  9. On April 13, 2019 at 2:23 pm,
    Andrea Flomen says:

    please provide me with Rick Bensignor’s info!! great info

  10. On April 14, 2019 at 4:48 am,
    Charles says:

    👍 Thanks Ex!

  11. On April 14, 2019 at 7:24 am,
    Chartster says:
  12. On April 14, 2019 at 3:57 pm,
    Wolfster says:

    Sorry if this is a repost…haven’t been able to read everything cuz of the day job but figured it was relevant for the Excelsior followers