David Erfle - Gold Market Commentary – Tue 19 May, 2020

A focus on the moves in silver and silver stocks

Dave Erfle joins me today for a look at the recent moves higher in silver and silver stocks. When silver starts moving it can be a sign of a few different factors including the type of investors entering the sector and a gauge of inflation expectations.

Click here to visit Dave’s site – The Junior Miner Junky.

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Comments:
  1. On May 19, 2020 at 3:57 pm,
    Excelsior says:

    Southern Silver Exploration Corp. (TSXV:SSV) – “The Hill of Mines” That Keeps on Growing

    Red Cloud Initiating Coverage – April 23, 2020 – Jacob Willoughby

    “Southern Silver is advancing its extremely large (272Moz Ag Eq) and high-grade (350 g/t Ag Eq) polymetallic Cerro Las Minitas project in Durango, Mexico of which it holds a 40% interest. The company is strategically partnered at the asset level with Electrum Global Holdings (60% ownership); thus, we expect minimal execution risk associated with commercial production”

    https://s3-us-west-2.amazonaws.com/cdn.ceo.ca/1fa44ug-20200423-SSV-Initiation-Report.pdf

    • On May 19, 2020 at 4:05 pm,
      Excelsior says:

      I started nibbling at Southern Silver Exploration today and got a tracking position in place.

      One of the things that really got my attention on their Corporate Presentation, showing their valuation relative to other Silver developers on (page 5), but in particular the size & grade of their deposit compared to other silver development projects on (page 6). SSV is up near the top of the heap on both metrics [size & grade], yet hardly anyone is ever discussing them or their Cerro Las Mintas project.

      I’m just dipping a toe in at this point, but those are a lot of ounces in the ground that are going to get rerated higher is Silver is finally starting to move again.

      ________________________________________

      Southern Silver (SSV) (SSVFF) – Corporate Presentation [check out page 6]

      https://www.southernsilverexploration.com/site/assets/files/4002/ssv_corporate_presentation_may_2020.pdf

  2. On May 19, 2020 at 4:36 pm,
    David says:

    Thanks for those articles. I reentered for the umpteen time today.

  3. On May 19, 2020 at 6:00 pm,
    David says:

    Ex:
    Got something goofy going on in my portfolio. Yesterday I had the biggest day in two months and everyone complaining. Today everyone says good day in GDX, GDXJ and gold/silver going up. Yesterday 5 figure gain. Today, no gain. I don’t have any GDX and a few GDXJ. I liked Monday because it was outside the box. But….so confused.

    • On May 19, 2020 at 6:16 pm,
      Matthew says:

      With Canada closed yesterday, a lot of us didn’t do very well. My portfolio gain today peaked at almost 17% but settled at over 14%. I haven’t had a day like today since at least 2016.

      • On May 19, 2020 at 6:33 pm,
        David says:

        Does that mean Canada was playing catch-up and it was just a balancing issue. That makes sense. I hate to say anything makes sense, but that does. Thanks.

        • On May 19, 2020 at 6:42 pm,
          Excelsior says:

          I pretty sure that Canadian markets being closed yesterday explains it. As a result, the US markets really ran in certain names, but others in the GDX or GDXJ were null. Still for those holding individual stocks yesterday was epic. Today was still very good, but not as epic for me personally. Combined it was some of the best action I’ve seen all year.

      • On May 19, 2020 at 6:46 pm,
        David says:

        Matthew:
        Bam! The light came on. 17% …I want what she is having! Congrats.

        • On May 19, 2020 at 6:56 pm,
          Excelsior says:

          Yeah that is a great day Matthew. +17

        • On May 19, 2020 at 7:27 pm,
          Matthew says:

          Ha ha! Thanks. Surely you’re not calling me Sally 😅

          • On May 19, 2020 at 7:42 pm,
            David says:

            Shirley I am not…!

          • On May 19, 2020 at 7:44 pm,
            Matthew says:

            Lol, perfect!

          • On May 19, 2020 at 8:48 pm,
            Excelsior says:

            You should have called him Harry. 😉

    • On May 19, 2020 at 6:38 pm,
      Excelsior says:

      David – Agreed and same here. I didn’t understand all the negativity yesterday as it was one of the better trading sessions I can remember for US pm stocks. I have some primary US tickers and some OTC tickers, but many of them are not featured that prominently in GDX or GDXJ, proving once again it is much better to build one’s own ETF.

      I had kinda a hybrid experience where yesterday was great and today was good, but today lessor so as my US holdings pulled back that surged yesterday, but my Canadian holding got moving today.

      The last 2 days have been a blast!

  4. On May 19, 2020 at 6:39 pm,
    Matthew says:

    Yes, you are exactly right.

  5. On May 19, 2020 at 7:15 pm,
    Excelsior says:

    It is nice to see Silver with an $18 handle once again.

    Currently at $18.08

    https://www.investing.com/commodities/real-time-futures

  6. On May 19, 2020 at 7:26 pm,
    buzz says:

    ASM kicking arse. EXLLF back from the dead–

    • On May 19, 2020 at 7:36 pm,
      Matthew says:

      It looks like ASM is just getting started, too…
      https://stockcharts.com/h-sc/ui?s=ASM&p=W&yr=4&mn=1&dy=0&id=p12913948313

      • On May 20, 2020 at 7:19 am,
        Excelsior says:

        ASM Avino is rather peppy again today (up around 15%) as Silver continues climbing.

    • On May 19, 2020 at 7:39 pm,
      Matthew says:

      Short term it is very overbought but that doesn’t mean it can’t stretch its run before taking a break. However, it does mean that the break could be a sharp one when it does arrive. Either way, it looks like it is going higher longer term. Look at that volume lately…
      https://stockcharts.com/h-sc/ui?s=ASM&p=D&yr=1&mn=1&dy=0&id=p64500789312&a=601855872

    • On May 19, 2020 at 7:45 pm,
      Excelsior says:

      Yeah, Buzz I was getting worried ASM was never going to wake up until recently.

      Also it was nice to see Excellon moving the last few days.

      Fun times!

      • On May 20, 2020 at 2:35 am,
        Marty says:

        Miningstockeducation.com had Feneck on last week touting AUMN. I bought in the next day(30K shares@ .2205) on his remarks. I owned AUMN way back when. So far, so good.

        • On May 20, 2020 at 7:16 am,
          Excelsior says:

          Yeah, I had Golden Minerals further down my watchlist, but haven’t checked in on what they are up to lately. I’ll go have a look-see. Thanks for the heads up Marty!

          I just added some SSV yesterday since they have one top 5-7 of the largest Silver development projects in the works, but don’t get nearly as much attention as the usual suspects in the Silver development space.

  7. On May 19, 2020 at 8:59 pm,
    David says:

    I think it would be best to take the first stage out if Dodge.

  8. On May 20, 2020 at 2:50 am,
    Marty says:

    Curious note from yesterday. My original shares of SILV were up a 66.6 Bagger. It’s been a great trading stock ever since.

    • On May 20, 2020 at 7:13 am,
      Excelsior says:

      Congrats on holding the distance in SILV Marty (that’s a spooky 66.6 bagger). 😉

      I’ve now been in and out of it 3 times, but sold it back again recently to go into smaller cap companies.

  9. On May 20, 2020 at 7:28 am,
    Excelsior says:

    $15M Investment Backed By Eric Sprott To Accelerate Resource Growth At PureGold Red Lake Mine (PGM) (LRTNF)

    by @nasdaq on 20 May 2020

    “PureGold has all the attributes I look for in a Company – location, grade, size and growth,” said Eric Sprott. “PureGold’s mine in Red Lake has over 7km of strike with known high grade shoots that have only been defined down to 1,200 metres compared to 2,500 metres in the neighbouring Red Lake mine complex. The ultra-high grade hits in the 8 zone remind me a lot of the HG Zone that built Goldcorp, as well as SMC at Macassa and the Swan Zone at Fosterville. These are the types of discoveries that have the potential to be company makers and tend to lead to a much higher production profile than originally given credit.”

    https://ceo.ca/@nasdaq/15m-investment-backed-by-eric-sprott-to-accelerate

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