Weekend Show – Sat 4 Jul, 2020

Hour 1 – Election Impacts On Markets and Gold Stock Portfolios

Full First Hour

A very happy July 4th to everyone in the US. I hope you all enjoy this weekend’s show. Please send me any feedback or questions to Fleck@kereport.com.

  • Segment 1 and 2 – Jesse Felder kicks off the show with a breakdown of how the markets will react to either a Trump or Biden election win. We also discuss the lack of breadth in the markets and how Jesse is viewing the overall gold market.
  • Segment 3 – Brien Lundin is up next with comments on how he is managing a portfolio of gold and silver stocks that all are moving higher. We also look at a couple other resource sectors where money will flow into next.
  • Segment 4 – Erik Wetterling wraps up the show with comments on a number of gold stocks.

Exclusive Company Interviews This Week


Jesse Felder
Brien Lundin
Erik Wetterling

Comments:
  1. On July 4, 2020 at 3:23 am,
    Excelsior says:

    Thanks Cory, Big Al, and all the KER contributors for another great weekend show and all the daily editorials. Ever Upward!

    • On July 4, 2020 at 6:20 am,
      Charles says:

      Agreed. Thanks KER!

  2. On July 4, 2020 at 3:27 am,
    Excelsior says:

    Sprott Money News Weekly Wrap-up with Eric Sprott & Craig Hemke

    Sprott Money – July 2, 2020

    https://youtu.be/sdZrYCG_LMM

    • On July 4, 2020 at 3:29 am,
      Excelsior says:

      A Conversation with Mark O’Dea – Words of Wisdom from one of the Sector’s Best

      @Leni (Brian Leni) – July 2, 2020

      $PGM Pure Gold $LGD Liberty Gold $DSV Discovery Metals $SUNM Sun Metals ; Oxygen Capital Group

      “As governments continue to print trillions of dollars to stabilize the economy with interest rates near zero and debt levels through the roof, gold has reacted to that and has adjusted upwards very nicely. Printing all this new money inevitably leads to serious reduction in the future purchasing power of a dollar. Owning gold, which is rare and intrinsically valuable, as opposed to a paper dollar, is a way to preserve the purchasing power of your money. So, in my experience, having gold as an allocation in your portfolio is a sensible thing to do.”

      ‘There are great opportunities that exist in the gold equities right now, and what’s compelling from an investment thesis is that we’re seeing operating margins increase dramatically with this rise in gold price.’

      https://ceo.ca/@leni/a-conversation-with-mark-odea-words-of-wisdom-from-one-of-the-sectors-best?92b1cae496b3

      • On July 4, 2020 at 3:42 am,
        Excelsior says:

        There’s a Powerful Reason to Be Bullish on Silver—And It’s Not Just Gold

        by Lobo Tiggre – July 01, 2020

        https://independentspeculator.com/theres-a-powerful-reason-to-be-bullish-on-silver-and-its-not-just-gold

        • On July 4, 2020 at 3:52 am,
          Excelsior says:

          Rick Rule: Positioning for the Good, the Bad and the Ugly in Mining

          Investing News Network – July 1, 2020 #VIDEO

          https://youtu.be/aV1YsXW3vKM

          • On July 4, 2020 at 2:16 pm,
            John Kruschke says:

            Thanks Ex.
            “We worked a decade to be an overnight success.”
            “You get a “Rip your face off rally.”

          • On July 4, 2020 at 4:51 pm,
            Excelsior says:

            Yep. A good interview with Mr. Rule.

      • On July 4, 2020 at 7:56 pm,
        Dick Tracy says:

        Ex, think Pure Gold (99.9%) PGM and concentrate on drill results, the mine is on it’s way but we need some fun in the interim. DT

        • On July 4, 2020 at 8:08 pm,
          Dick Tracy says:

          The swami say’s buy now play later. LOL! DT

          • On July 5, 2020 at 9:51 am,
            Excelsior says:

            Haha! Agreed DT.

  3. On July 4, 2020 at 3:31 am,
    Excelsior says:

    U.S. Trade Tumbles 30% — And, More Troubling, Gold Is New Top Import
    Ken Roberts – Forbes Contributor – Jul 2, 2020

    “U.S. trade fell a startling 29.83% from the same month last year and, for the first time, gold was the most valuable import, according to Census Bureau data released Thursday for the month of May.”

    https://flip.it/Xh1Hmy

  4. On July 4, 2020 at 3:55 am,
    Excelsior says:

    A summer of uncertainty – a summer of mixed messages

    Gary Wagner – July 2, 2020 #VIDEO #Charts #TechnicalAnalysis #Gold

    https://youtu.be/d4TR7-rDSKk

    • On July 4, 2020 at 3:57 am,
      Excelsior says:

      Ira Epstein’s Metals #Video (7/2/2020)

      Technical Analysis, Gold, Silver, Copper, Platinum

      https://youtu.be/nHTlSu493wI

      • On July 4, 2020 at 3:59 am,
        Excelsior says:

        GDX Cup & Handle: Higher Prices Ahead

        Morris Hubbartt – July 3, 2020 – Super Force #PreciousMetals #Video #TechnicalAnalysis

        http://www.321gold.com/editorials/sfs/hubbartt070320.html

        • On July 4, 2020 at 4:02 am,
          Excelsior says:

          Silver Price & Silver Miners Update #VIDEO

          iGold Advisor – Christopher Aaron – July 2, 2020 #Chart #TechnicalAnalysis

          https://youtu.be/CitSSxsDQjQ

    • On July 5, 2020 at 1:16 pm,
      Excelsior says:

      Edward Gofsky @EdwardGofsky on Twitter · 9 hours ago:

      “Don’t lose focus on the big prize in #silver. The 40 year {Cup & Handle} setting up in silver. From a fractal point of view it’s very similar in structure to Ethereum in 2017 before it went from $500-$1500. The only difference is time frame so be patient please. Kimble charts. $SLV $GLD”

      https://twitter.com/EdwardGofsky/status/1279732091261878272

  5. On July 4, 2020 at 4:07 am,
    Excelsior says:

    > #Chart showing a performance review of a dirty dozen Silver Developers and advanced Explorers off the March 16 sector lows to present. #NotTooShabby

    $DSV Discovery Metals up 333%
    $AAG Aftermath Silver up 294%
    $VZLA Vizsla Resources up 238%
    $ABRA AbraPlata Resource up 230%
    $DV Dolly Varden Silver up 222%
    $DEF Defiance Silver up 212%
    $AUN Aurcana Corp up 210%
    $MMG Metallic Minerals up 200%
    $SVE Silver One up 182%
    $BBB Brixton Metals up 155%
    $KTN Kootenay Silver up 139%
    $REX Orex Minerals up 120%

    http://cdn.ceo.ca/1fg03qn-Silver%20Developers%20and%20Explorers%20performance%20since%20March%20lows.JPG

    • On July 4, 2020 at 4:33 am,
      Wolfster says:

      Well I own 4 of them but I can certainly say I didn’t get in anywhere near those lows…… making up for lost time Ex. You’re a posting machine this morning. Lol

      • On July 4, 2020 at 6:30 am,
        Glenfidish says:

        Testing testing!

        Al do you have me blocked?

      • On July 4, 2020 at 6:42 am,
        Excelsior says:

        Hey Wolfster. I own 9 of those (used to own a 10th but sold it earlier this year).

        It is interesting to see how strong the Silver developers and explorers bounced off their lows to present, and nice to see many names in the portfolio double or triple off their lows in the last few months taking them up much higher than where they were prior to things selling off at the end of February.

        _________________________________

        > In every case but Vizsla (initiated on March 18th), I had already built up positions prior to 03/16/2020, and was just adding to them after that low, but I was very active in buying Gold and silver stocks from March 11- March 23 where I invested most of my dry powder, sold old dogs from other sectors to rotate into my current PM positions, and moved money over from savings to have even more capital to deploy. While many pundits were cowering in cash, I was trying to buy as much as I could when the stocks were at such ridiculous valuations, and was stunned more people weren’t discussing buying with both hands at the time.

        >> On March 13th, 16th, 17th, 18th I was mostly adding to larger Silver names , like Alexco, Silvercrest, Silvercorp, Americas Silver, Sierra Metals, and also to a number of larger more liquid Gold miners.

        >>> However, on March 18th (2 days after the low on the 16th) I initiated my position in Vizsla Resources, and added significantly to my positions in Kootenay, Impact, and Discovery Metals. On March 19th I was adding to a half dozen Gold companies, but then on March 20th I did add even more to my Alexco, and Coeur shares. I actually kept adding to Coeur and Silvercorp on March 23 and March 26 and March 27th. Through the first week of April I was adding to Kootenay, Americas Gold & Silver, Coeur, and Silvercorp, and mid April I was adding to Vizsla, Impact, and Silvercorp. So, I grabbed my fair share of the Silver miners all through mid-March to early April, and have been glad I did. 🙂

        • On July 4, 2020 at 6:51 am,
          Excelsior says:

          Also added to my Aurcana and Dolly V positions in mid and late August.

          • On July 4, 2020 at 6:51 am,
            Excelsior says:

            April (not August). Ha!

    • On July 5, 2020 at 10:20 am,
      b says:

      March 2020 ITH was .45, July, Friday 2.28 high for the day 2.44.
      Thats up? 400%

      • On July 5, 2020 at 11:27 am,
        Excelsior says:

        Agreed b. International Tower Hill mines has had one hell of a move higher, as the gold optionality plays and developers are starting to get rerated with the higher gold prices. It’s about dang time.

        I guess I should do a dirty dozen Gold developers performance chart from the March lows as well and I’ll make sure ITH is part of it.

        • On July 5, 2020 at 12:30 pm,
          Excelsior says:

          > #Chart showing a performance review of a dirty dozen Gold Developers and how them moved off the March 16 sector lows to present.

          ITH.TO – International Tower Hill Mines up 384%
          TML.TO – Treasury Metals up 233%
          ORE.V – Orezone Gold up 231%
          MQR.TO – Monarch Gold up 208%
          PGM.V- Pure Gold up 198%
          MAI.V – Minera Alamos up 175%
          SBB.TO – Sabina Gold & Silver up 128%
          LIO.V – Lion One Metals up 112%
          MAX.TO – Midas Gold up 111%
          FPRGF – Falco Resources up 111%
          WKM.V – West Kirkland Mining up 108%
          OSK.TO – Osisko Mining up 90%

          http://cdn.ceo.ca/1fg4ah0-Gold%20Developers%20Performance%20Chart%20Since%20March%20Lows.JPG

          • On July 5, 2020 at 12:30 pm,
            Excelsior says:

            them = they

    • On July 5, 2020 at 11:47 am,
      John Kruschke says:

      Looking at the list prompted me to dig out my data from 2016.
      In 2016 terms even with those gains I would say there is good value, for instance Defiance was trading at .44 CAD on 7/12/2016 and is now .265 CAD.It is quite funny as I have a lot of your lists in my data as well.

      • On July 5, 2020 at 12:08 pm,
        Excelsior says:

        Good points JohnK. Back in 2016 many of these were much higher. Granted Silver did break up above $21 very quickly, so people were piling in the stocks, but I agree that most of these companies have much higher to run. Even if one looks back at 2010 and 2011 levels they were even higher, and didn’t have nearly as low of costs as they do today.

        As for Defiance, I have a small position in it, and have been debating adding to it, but was waiting to see if they were going to raise more capital first. I am interested in seeing what they do with the new targets generated for their San Acacio project.

        • On July 5, 2020 at 12:28 pm,
          John Kruschke says:

          On the flip side how about Silvercrest. SIL.TO Trading at 1.36 on 7/12/2016 and is 12.22 as we speak.
          I really like this chart as it really shows the blue sky we are approaching in Silver coming out of a 5 year albeit choppy base.
          https://stockcharts.com/freecharts/pnf.php?c=%24SILVER,PWTAWANRNO%5BPA%5D%5BD%5D%5BF1!3!!!2!20]

          • On July 5, 2020 at 12:36 pm,
            Excelsior says:

            Yes, (SIL) (SILV) Silvercrest is best in class and the #1 Silver explorer/developer on the planet, and similar to how Great Bear has been with Gold.

            The team at Silvercrest has been hitting bonanza grade Silver intercepts for the last 4 years, so they have many more eyeballs and analysts on them, and thus their valuation is much more fair and factored in compared to other Silver Developers and Explorers. Having said that; SILV through more exploration and higher metals prices can keep chugging even higher.

          • On July 5, 2020 at 12:44 pm,
            Excelsior says:

            I’ve been in an out of Silvercrest for many years, both in their current incarnation and their former incarnation (before First Majestic took them over and spun out the new company). Ironically I just bought more SILV on March 13th, then added on March 16th, but then sold part of that on March 18, and sold the rest on March 24.

            I’ve considered getting back in, but feel that some of the smaller market cap stocks have further to run on a percentage basis.

          • On July 5, 2020 at 12:59 pm,
            John Kruschke says:

            I’ve been out of the loop for some time as I had to liquidate due to a torn rotator cuff.
            I am starting to reposition for the coming run in the Precious metal stocks.
            To be honest I am still a little leary about the disconnect that exists in these markets.
            Since the Covid, a lot of “hot” money via Robinhood has been finding it’s way into the OTC Penny stocks. Lately I have been noticing that more and more mining companies are showing up in the data. To me , this is a very good sign and a early indicator of what is yet to come. Fun Times.

          • On July 5, 2020 at 1:07 pm,
            Excelsior says:

            Ouch. That torn rotator cuff doesn’t sound like any fun at all. My buddy had a similar situation and it took him many months to heal – almost a year.

            Yeah the “hot money” from the waves of new Robinhood traders have finally started finding the mining companies. Just 2 weeks ago hundreds of them piled into a company I hold, (SMTS) Sierra Metals, a polymetallic producer of Silver, Copper, Zinc, Lead, and Gold. It hadn’t been getting much of a response, and then boom hundreds of Robinhood traders showed up and the volume surged and the shareprice shot up over 250% in 2 days. Crazy.

            Here’s the SMTS chart. Look at that volume come and then go onto the next shiny object.

            http://schrts.co/eUcCVCNb

          • On July 5, 2020 at 1:12 pm,
            Excelsior says:

            I’m hoping those Robinhood traders find a few more of my mining stocks so I can lighten up on surges like that. As you mentioned, it is a good signal that generalist investors are starting to wake up to the outsized gains in mining stocks.

          • On July 5, 2020 at 1:32 pm,
            John Kruschke says:

            For me this is going to be vindication.
            This is going to be the pay off for all the mornings I have endured watching those in the futures have their way even though I knew that this was and I will quote Rick Rule, “The politics of the market and not the reality of the economy.”
            I cut my teeth in the Jr Resource stocks years ago and this is what I really love doing. With that being said , it is a lot more fun when the Precious metals start shinning again as I knew they always would and it was just a matter of waiting it out.
            Mining 101. Where is the best place to look for Gold? Next to a Gold Mine of course.
            Good luck to you Ex.

          • On July 6, 2020 at 6:48 am,
            OOTB Jerry says:

            J the Long……..been waiting it out also……there are only a few who have been around this market and know what was to happen, a lot of names have gone missing over the years….just saying.. :)……. Average returns…7-9%
            Livermore quote would be appropriate here……It is the waiting, and sitting on my hands, that made me the most money….or something like that… 🙂

  6. On July 4, 2020 at 5:21 am,
    Glenfidish says:

    Thanks for the show al and Cory!

    Wolf ex has mastered the cut and paste technique. Nevertheless it’s time consuming and researching around the clock. This is why I think shad takes his rock climbing excursion every so often.

    Wolf I appreciate your honesty as very few hit the very lows and ain’t an easy art or everyone would be filthy rich. I was first to say I missed the march 16 low but I went in aggressive at every low after and I’m all in both long term and short term trading. Let me rephrase I don’t do day trading but intermediate trading which I believe is much safer for me imo.

    Ex i think what I appreciate the most of what you always post is the companies in general. I have learned about many that I absolutely had no idea about. In a general consensus I believe the group of companies you always show are strong companies. It’s is the viewers job to determine what the charts are saying of such company. What I mean is if entry points are good or if trimming of those companies are what is warranted when you post about them. So thanks.

    Matt give us an update of gold, xau, hui and silver state if you can. I know most of us are itching to see those golden charts like the golden ticket in willys wonker lol.

    Nothing has changed. My last update I said we either have started the 3-4 day correction or we move into a high on Monday. Well the 3-4 day correction has started should finish soon.

    $1800 will be broken and $1820-1840 will be next. As we move into the higher ranges I want to really start hearing more of gold is going to the moon and advertising about jp Morgan and Goldman Sachs talking gold higher. This will be vital for the the correction that’s coming. We are still awhile away. But I already see the talk.

    Great weekend to all.

    • On July 4, 2020 at 12:20 pm,
      Excelsior says:

      Hi Glenfidish, and thanks for the kind words.

      Yes, a big part of what I paste are cut and paste articles, editorials, interviews with pundits, charts and technical analysis. It is quite time consuming to filter through all the market noise and curate what I consider to be quality, or at least thought provoking ideas and insights.

      As for the company reviews, interviews, and breaking news — yeah, they are my favorite as well. I typically am posting about companies in my portfolio, but not always, because if there is interesting news in a Major, or a company on my watchlist, or just something unusual I’ll post it as well.

      Glenfidish – yes, you are spot on that sometimes after being inundated in investing news or world news it is helpful for one’s sanity to get out into nature to get away from other human thought and clear ones mind. Also, I just love traveling and getting a change of environment and spending quality time with my lady. Cheers!

      • On July 4, 2020 at 1:30 pm,
        Excelsior says:

        Glenfidish I just reread your post and felt you also brought up a great point that deserves reiterating.

        You wrote: ” It’s is the viewers job to determine what the charts are saying of such company. What I mean is if entry points are good or if trimming of those companies are what is warranted when you post about them. ”

        >> Bingo. I’m often posting on companies where I see progress being made, or interesting news, or something that catches my attentions, but that in no way means I’m suggesting to buy a stock at that moment. In the same manner, if I’m critical of a company, that in no way means I’m suggesting to sell a company at that moment. This is a resource investing blog, and I’m just here to share ideas.

        When it comes to the buying or selling of a company, an investor should be consulting the charts for appropriate technical set ups for entries and exits, and I’ve said that for many years.

        In many cases I may have already been positioned in a company for years when I’m posting news, editorials, company interviews, or corporate presentations. In other cases the company may be on my watchlist and I’m stalking it waiting for the chance to pounce.

        ** Case in point. I posted about Vizsla when it was on my watchlist for about half a year before I finally got positioned in it on March 18th, during the huge pullback in the sector. I felt VZLA was initially overpriced and overhyped by newsletter writers when it did it’s IPO and kept running higher and higher on just financing news. When it crashed back down to Earth at the same time it was finally starting to do the real work and put out drill release, THEN I got positioned, knowing the drill releases would move the shares back higher again — and that is exactly what has played out.

        So in all the company posts, it is up to individual investors to do THEIR OWN due diligence as I’m just tossing out a buffet of ideas in companies that catch my eye. I accept no blame if someone buys/sells based on this info, as I’m not making recommendations to buy or sell, and everyone should take personal accountability for their own decisions and actions. Like you, I recommend using the charts to determine where the risk/reward setups are after adding a company to one’s watchlist.

        Glenfidish – Thanks for bringing that point up, as it may be the most important concept discussed this weekend.

        Cheers!

  7. On July 4, 2020 at 6:14 am,
    Bankster Vigilante says:

    Here’s how they are kicking up the fake COVID-19 case numbers in states like Texas. They now use contacts and sniffles to label somebody as a “probable” COVID-19 case without even testing those probables with their fake test kits. They might as well just say that all Americans have COVID-19, but the numbers of even their fake COVID-19 deaths are declining so their fake case numbers are meaningless. https://www.youtube.com/watch?time_continue=332&v=Y4VJ5xU09h8&feature=emb_logo&fbclid=IwAR2zgsPgJXSF8H5kPcMnlvFvbXJIrRaMTjvufXgLe1qe5CD5kxTHdFIZc8o

    • On July 4, 2020 at 6:32 am,
      Glenfidish says:

      So frustrating I posted a lengthy comment and it didn’t go through. This has been happening quite often lately.

      I don’t have the energy to repost. It sucks because I think some of the readers might have appreciated my calls and my current observations of gold and the miners.

      Have a great weekend. 😡

      • On July 4, 2020 at 6:40 am,
        Charles says:

        I am having a similar problem. I can only reply to an existing comment. The comment box is missing at the bottom of the page.

        • On July 4, 2020 at 6:46 am,
          Excelsior says:

          Hey Glenfidish & Charles – I’ve been having similar issues and have been trying to copy my posts quickly before I hit submit just in case they don’t go, and have had to refresh to get the dialogue box back at the bottom.

          This works OK on my laptop, but I’ve had more issues from my smartphone where often I just give up on a post until later when I can get back in front of a computer.

          Cheers amigos!

          • On July 4, 2020 at 6:47 am,
            OOTB Jerry says:

            Lap top……working…..

          • On July 4, 2020 at 6:30 pm,
            Canuckski says:

            Mine seems to be working.
            Glenfidish, now you have me curious about what you were going to lay down because you’ve been laying out details and play by plays as to what you’re expecting… which helps me immensely to understand and anticipate.

      • On July 4, 2020 at 6:49 am,
        John Kruschke says:

        Glenfidish:
        When you post and do want to chance losing your effort, hit reply to this comment on something that has already been posted and hit submit comment instead of starting a new thread and just hitting submit.
        Hope this helps.

    • On July 4, 2020 at 6:46 am,
      OOTB Jerry says:

      The sheeple will remain lost………only about 5% have a clue on the virus…..

      • On July 4, 2020 at 6:55 am,
        John Kruschke says:

        Jerry:
        I question your motivation for submitting such a comment on the metals thread.
        You can call Covid a hoax and comment that wearing masks is dumb or what ever.
        I haven’t seen you post any Medical credentials as of yet.

        • On July 4, 2020 at 7:24 am,
          Charles says:
          • On July 5, 2020 at 10:22 am,
            Excelsior says:

            Thanks for posting the Michael Oliver commentary Charles. He is a sharp guy with both a good handle on both fundamental analysis and technical analysis. Cheers!

        • On July 4, 2020 at 7:39 am,
          OOTB Jerry says:

          You rely on a medical associations for the news……..
          I use to work for a guy who owned 200 hospital…..
          I have relatives who work for Lilly…..

          • On July 4, 2020 at 7:40 am,
            OOTB Jerry says:

            John , you call a lot of people out, in your lack of knowledge…..do some homework

          • On July 4, 2020 at 7:48 am,
            John Kruschke says:

            Jerry:
            I’m concentrating on making money right now and hanging on to what I have.
            I am on the metals blog as I have had enough of Covid, BLM, and Politics in general.
            Like Ex posted, as well as Mathew and I have discussed there has been some fantastic gains in select mining stocks since March.
            This is an exciting time to be a Gold Bug.
            I have been patiently waiting for this for some time now.
            Best to you Jerry.

          • On July 4, 2020 at 7:49 am,
            OOTB Jerry says:

            Oh, I forgot……Roche , which I have a few people who I know work for them as well…
            Even have some friends at Indiana U. Medical….
            Indiana is full of medical people…..

          • On July 4, 2020 at 7:54 am,
            OOTB Jerry says:

            John…….I did not start the covid bs comments………I tried to hold back the bs….since Feb 22….I did not start the covid comments on today’s blog……

      • On July 4, 2020 at 7:30 am,
        David says:

        One way or another, at my age I can’t take the chance not to believe the medical experts as making a mistake is a no option alternative. I have to believe it can be fatal and I have to believe that those without a mask are asymptomatic. The virus exists and people are sick and dead. Probability is not an issue.

      • On July 4, 2020 at 7:50 am,
        Glenfidish says:

        Hey John,

        Thanks for this. I did exactly that, in fact most of the time I’m doing that. Thanks ex, Jerry and Charles. I have a hunch it’s something to do with my iPhone. Never trusted these phones lol. Never ever does it happen with my laptop but as ex mentioned when using the phone it happens more often.

        Quick summary

        My thoughts..

        I mentioned yesterday that gold was either starting a correction or topping on Monday. Well it’s clear that the correction has started. It may have another day two or three to go but the bottom will be in and we will continue higher. As mentioned Before the targets are 1820 to 1840 next. No specific target here just a general area.

        The wall of worry is only going to get much worrisome when we punch through $1840.. The daily is overbought and the weekly needed some correction but the monthly says we have room for a strong push at the very least towards that $1900 region. Again I’m not giving precise numbers but overall general number.

        I think I offer a well balanced approach and as i have been on record here solely that gold will not punch through 1923 at itS first try, I may also go on record as being the one who got it wrong. That’s ok It’s just my approach.

        Nevertheless I don’t feel so lonely now in my call as Gary savage in his recent latest video is now on record after my call of course lol saying gold will not punch through as well in its first try of 1923 all time high. That brings relief but to be quite honest I prefer I’m the lone goat just cause I’ve seen once to many times the rug be pulled fairly quickly. Pass experience brings greater knowledge and something will have to give here. Regardless if my 1923 below call doesn’t pan because 1923 was surpassed by 75 points and then correction, I would prefer to live by my call because I believe this correction is going to be bigger and faster than some might imagine.

        For the record we are still sometime away from cycle top.

        • On July 4, 2020 at 10:16 am,
          Matthew says:

          Glen, whatever gold does, it is about to continue lower versus silver:
          https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24SILVER&p=W&yr=5&mn=0&dy=0&id=p23570882395

        • On July 4, 2020 at 10:21 am,
          Matthew says:

          All silver needs now is to get above $19 and with the holiday disruption behind us, it could do so sooner that it might seem. OR it could meander sideways for a bit longer but I doubt we will see significant weakness:
          https://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=1&dy=0&id=p35571696237&a=689483153

        • On July 4, 2020 at 10:42 am,
          Matthew says:

          Here’s the weekly version of that important monthly XAU speed line breakout that I sent you recently:
          https://stockcharts.com/h-sc/ui?s=%24XAU&p=W&yr=11&mn=8&dy=0&id=p89494795429&a=779531140

        • On July 4, 2020 at 10:49 am,
          Matthew says:

          SILJ is setting up for much higher prices very well whether it moves up immediately or not (the chart IS conducive to immediate further upside):
          https://stockcharts.com/h-sc/ui?s=SILJ&p=W&yr=4&mn=11&dy=0&id=p04772849394&a=716410329

        • On July 4, 2020 at 1:09 pm,
          Excelsior says:

          Glenfidish – Good thoughts and price targets.

          To clarify something you mentioned a few times, I never said Gold would punch through the $1923 all time on its first attempt or that there wouldn’t be a pullback in the $1800s first. I agree more with Gary Wagners technical analysis posted up above in this blog that $1880 may be the resistance that Caps gold at one point

          You asked me if I thought Gold could take out it’s all time high this year or next year, and I replied I thought it was likely it could happen this year, with the caveat that I didn’t really care because at current Gold prices in the $1700s most mining companies could do great. Then on a different day and thread you pushed for a target and I provided a fib extension target if $1935 based off the last move to $1788.80 earlier in the year.

          So if gold gets to your target of $1840, or Gary Wagners target of $1880 and then corrects back down, then that is fine with me and most probable anyway. So to repeat, I never said the all time high in gold would be taken out all in one shot. Most major resistance levels take 2 or 3 attempts.

          Ever upwards!

        • On July 4, 2020 at 1:19 pm,
          Excelsior says:

          Glenfidish – Good Thoughts and price targets mate.

          To clarify something you mentioned a few times now — I never said Gold would punch though the all time high at $1923 all in one motion on it’s first attempt. Most major resistance takes 2 or 3 attempts to break through key levels, so a pullback and retest in the $1800s would be more probable.

          I agree more with Gary Wagner’s technical analysis (posted above in this thread) that the $1880 level may be where the resistance comes in and from where Gold corrects back down before heading higher.

          As a reminder, you asked me if I though Gold could take out the all time high of $1923 this year or if it may take until next year. I replied back that I felt it was likely Gold could take out the all time high this year, with the caveat that I really didn’t care, because at current prices in the $1700’s most gold mining companies would do great.

          Then on a different day and different blog you pushed for number and level and I provided my thinking on the fib extension from the last move higher to $1788.80 earlier in the year which would take gold to $1935 and would take out the all time high at that point.

          In summary, if Gold gets to your target of $1840 or Gary Wagner’s target of $1880 and then corrects back down, then that is fine with me and most probable anyway. Nothing moves up in a straight line, and it is typically 2 steps forward and one step back as a bull market shakes off as many riders while climbing the wall of worry.

          >> So to repeat again – I never said the all time high in gold would be taken out all in one shot. Major resistance levels often take 2-3 attempts (remember $1377.50 resistance? that took 4 attempts).

          Ever Upward!

          • On July 5, 2020 at 7:35 am,
            Glenfidish says:

            Ex,

            Thank you for the summary. I really don’t want to go back and pull up your post as it takes a long time to find. My understanding is that i asked everyone in here what there targets or thinking was with golds current move and all time high. Not one person commented including yourself on record saying golds current move would not breach $1923 on first attempt. Unless I’m losing my Mind I believe your response was $1975 somewhere in that vicinity which included your detailed and appreciated fibinocci targets. That would imply first attempt goes through $1923 to your target and then your correction. That’s what i read from your post. Maybe someone better then me can repost it. It’s not a completion and again forgive me if I misread.

            As far as $1840, it was never implied as a final target before the move down. My views have been consistent from sometime. $1780, $1800 will be broken ( both have) and “next” target is $1820-1840. I mentioned when we get there I will update my thoughts.

            For the record now,I have higher targets before this correction that is coming. Gary w $1880 call is on record privately with Matt so he is my witness lol.

            So to sum up gold is going higher next 3-6 weeks imo with a Target I have less than $1923 all time high. And my correction prediction will be much more scarier than $1800. You heard it here first way further down.

            These are just my own opinions and I could end up looking foolish it wouldn’t be the first time.

            So hope this helps

            Glen

          • On July 5, 2020 at 10:15 am,
            Excelsior says:

            No worries Glenfidish. What I typed above is what I believe, and have stated multiple times, that most prior peaks are not eclipsed on the first move higher. Never said it was a competition, but I wanted to set the record straight. You had posted something last week that both Matt and I claimed Gold would go through the all time high without correcting first, and I never said anything like that. I was too busy at the time to respond but wanted to clear it up here because you just said you were the only one on here that believed gold would go up into the $1800s and correct.

            I believe that is what most people on here believe. Craig Hemke just mentioned he thought Gold would get up into the $1880 region and correct, Gary Wagner put out analysis posted above that there is resistance up $1880 as well.

            So far it hasn’t been specified if this was just going to be a normal pullback when Gold hits resistance, corrects and them moves higher to make a run at the all time high, or if they believe gold will correct for a long time. Personally I could see Gold getting up in the $1800’s, correcting down and then making a move at the all time high in the seasonally strong month of September, but it may make a few attempts to get through that level (just like Gold struggled to get through the 2016 surge high of $1377.70). I mentioned that Gold could reach up for the Fib extension at $1935.

            The 1975 number you are recalling was regarding Silver. Someone else was posting about $26 Silver, and I mentioned it is best to take things one step at a time. The first level Silver needs to clear is last years high of $19.75, then the next line in the sand is the 2016 high of $21.23. Until those two levels are taken out definitively on a closing basis (at least on a daily, but preferably on the weekly chart) then it is premature to be looking at things like $26 Silver.

          • On July 5, 2020 at 10:45 am,
            Excelsior says:

            Also for posterity’s sake I found the old posts from June 20th & 21st. They match what I had responded up above, as I do my very best to be consistent. I can’t find the post about the bet on whether Gold would clear it’s all time high this year or next as the search function here at the KER is all wacko right now, but all I said was sure I’d take the friendly challenge I believed it could happen this year. There weren’t any comments about it doing it all in one move though without correcting first.

            _______________________________________

            > On June 20, 2020 at 8:33 am,
            Excelsior says:

            “Good comments Glenfidish, and I tend to agree, but with a few minor tweaks.
            The key number for Gold to take out first is the recent high from earlier in the year of $1788.80, so it will mark a new impulse leg to a higher high.”

            “I’m more optimistic that Gold has a chance of taking out it’s old surge high of $1923.70 this year.
            (for some reason I thought it was $1921, but $1923.70 is the all time high on stockcharts).”

            “If it takes Gold until Q1 2021 to break the A.T.H. at $1923.70, as you are forecasting, then that still won’t be that long of a wait, and actually gives the miners more time to absorb and react to the higher metal prices. Regardless of whether Gold making a new All Time High happens later this year or the beginning of next year, when it does, and the news headlines cover it, it will be the energy needed to bring in more generalist investors.”

            “Longer view Gold Chart showing the prior 2011 peak, the bear market from Sept 2011 through Dec 2015, and the new bull market that started after that major low was put in at $1045.40 in December of 2011.”

            http://schrts.co/HsuMXYag
            ___________________________________

            > On June 21, 2020 at 8:35 pm,
            Excelsior says:

            “Hey Glenfidish – thanks for the response back and good thoughts mate.
            For clarity, I’m not waiting for $1788 Gold to get deployed in miners, but mentioned it was the recent high from earlier this year, and the next key level to clear for Gold to make the next impulse leg higher. To confirm an impulse leg higher, the prior peak must technically be cleared on a closing basis on the daily; but preferably on a weekly basis to confirm the move higher.”

            “It is best to take things one level at at time, and yes, clearing a recent peak is one of the most technically significant things in price action for the next bull leg period on any chart. Therefore $1788 is far more important than $1765 or a round number like $1780 that you mentioned, and that was the only point I was getting at. It had nothing to do with waiting to get positioned, but it is the level I’m watching in Gold as the next key one to clear.”
            _______________________________________

            > On June 21, 2020 at 8:47 pm,
            Excelsior says:

            “After gold clear $1788 the recent peak on a closing basis on a daily (but preferably a weekly close above it) and confirms we are in the next impulse leg, then I’ll be looking at how high it gets into the $1800s to determine a Fibonacci retracement of that leg back down 23.6% or 38.2% to reposition. As for how high it may go into the $1800s I’ll be looking for trendlines off the $1167.10 low up through $1788.80 to determine that make overhead resistance, and watching for a bigger move in the next few months for a Fibonacci extensions of 23.6% of that move (adding $146.72 to 1788.80 for a target of $1935.52). That would clear the $1923 prior peak and all time high from 2011 and be a target I’d be looking to see by year end.”

          • On July 5, 2020 at 10:50 am,
            Excelsior says:

            Here’s out discussion on silver where the $19.75 number came into play.
            ___________________

            > On May 29, 2020 at 8:08 am,
            Glenfidish says:

            “Hey ex,”

            “In the words of gary savage intermediate tops always happen at some point.. Not to be a party pooper but what target would you have for a good intermediate top for silver and good healthy correction?”

            “Are you of the belief we blow by 19ish`20ish and go to 30 before that correction?”
            ________________________________

            > On May 29, 2020 at 8:42 am,
            Excelsior says:

            “I expect Silver to run into first resistance at the 2019 high of $19.75.”

            “When Silver finally takes out it’s 2016 surge high of $21.23, then this tiny sector is going to get more heated up. If it takes 2-3 attempts to to do that, then I’m OK with that .”

            “At that point (north of $21.23) even the higher cost producers will be making money, and the development projects economics will be quite attractive.”

            “If it get’s back in the high $20’s to low $30’s #fuhgeddaboudit”

            “Ever Upward!”

            #Silver Chart: http://schrts.co/dXvAiSUd

          • On July 5, 2020 at 10:58 am,
            Excelsior says:

            I also just found the initial beginning of the conversation.

            On May 11, 2020 at 5:12 pm,
            Glenfidish says:
            Anyone in here believe we have hit an intermediate top? or do you believe it’s up tomorrow and resume to hit that strong resistance at 1800 gold?

            I will stick to my guns and will make a friendly wager with my pals matt and ex lol..

            We do not blow by all time highs and no way we go over $2000 this year,

            who is in? I sound bearish lol..

            > On May 11, 2020 at 5:47 pm,
            Excelsior says:

            “Glenfidish – It is possible Gold may get up in the low $1800s in the shorter term before correcting for the medium term, but regardless, Yes – believe Gold will take out the all time high this year of $1921 (from back from Sept 2011).”

            “As far as taking out $2000, I’m thinking that may take until next year in 2021, but for fun – sure I want to see it in break above the 20th century mark in 2020.”

            “Personally, the current Gold prices in the low to mid $1700s are plenty high for the producers to make money and for the developers to get rerated. I agree with Matthew’s comments on the weekend show blog that I’d rather see the miners move up in value relative to real money = relative to Gold.”

            “If Gold gets up into the $1800’s the miners have even more room to run. Once Gold does take out it’s prior all-time high at $1921, the news headlines will the main stream media, and I believe that may create a small frenzy to push the yellow metal above the $2000 level. I guess it depends on when $1921 is taken out (my guess would be September).”

          • On July 5, 2020 at 1:29 pm,
            Matthew says:

            Re: “no way we go over $2000 this year”
            Glen, with where gold is at within the very big-picture, I will be very surprised if gold doesn’t take out 2000 and would view it as somewhat bearish (bearish for gold, not the miners).
            Gold has closed the last 5 quarters above its quarterly Bollinger Bands and is going parabolic. The last time we saw such action was in the late 1970s. So the bears better act fast if they want a chance at stopping it (which is probably already not possible). The can start by stuffing it under 1733, the upper Bollinger Band.
            Quarterly gold:
            https://stockcharts.com/h-sc/ui?s=%24GOLD&p=Q&st=1996-09-09&id=p24801209045

          • On July 5, 2020 at 1:39 pm,
            Matthew says:

            To be clear, I think gold is going much higher but a 1970s scale move is probably still years away. So my technical comparison is about scale, but action.
            Here’s the 1970’s quarterly gold chart:
            https://stockcharts.com/h-sc/ui?s=%24GOLD&p=Q&st=1970-01-01&en=1986-08-16&id=p83079751709&a=779874849

          • On July 5, 2020 at 1:47 pm,
            John Kruschke says:

            22 June was a double top break out on the point and figure weekly Gold chart.
            The slope is steep but I wouldn’t say it was excessive.
            https://stockcharts.com/freecharts/pnf.php?c=%24GOLD,PWTAWANRNO%5BPA%5D%5BD%5D%5BF1!3!!!2!20]

          • On July 5, 2020 at 2:48 pm,
            Matthew says:
          • On July 5, 2020 at 2:54 pm,
            Matthew says:

            Volume/COMEX open interest has been down since gold reversed off of the March low but the speculators will return eventually.
            https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=1&dy=0&id=p79918135977&a=727350573

          • On July 5, 2020 at 4:12 pm,
            Glenfidish says:

            Ex,

            Thanks for the response. Ok I think I have a good idea of what you are saying. You can correct me if I’m wrong. What you are saying is that you expect some type of correction or semi meaningful correction before piercing through $1923. Which means wherever that correction comes from it will get close enough to $1923 and down and you believe later on in the year or possibly shorter term $1923 all time high will be breached this year. Does this sound right? Just want to make sure lol. And of course the correction you have in mind would be down to $1800 give or take?

            Matt, ex, John and everyone else,

            Matt knows how much I respect his calls and vision as well as ex and everyone but this is one time in a very long time I will sound like Gary savage! The cabal or bankers I don’t trust and this is getting to far ahead for them. Price action of gold and miners has been text book climbing wall of worry but noise lately and indicators and other things that we some view differently and not that I disagree with you Matt with weekly and monthly. I do understand weekly can stay overbought for sometime same with monthly. There are more than 1-2 things that just have caution starting to come up.

            I hope I don’t sound so bearish. Let me make this clear I’m still all in. Short and long all in. I feel really good about a strong monthly close with big candle. Higher targets than $1840. But there is a lot of money that has not entered and slot of money that needs to cover. So imo again we will fall short and go further down into October marking a bottom. I may very well be wrong but there are some heavy weights that have called for fall low and I have one forth the experience Matt has but I will use it if needed and bail “short term” investments at my targets. I stand mite to gain than lose. If it goes higher it won’t Benny that much before meaningful correction unless we sky rocket into $2300-2400 at which point my long term investments will retire me on an island.

            So for the record no I don’t think we go higher than $2000 this year. I do think we break out in spring 2001 into $2100-2400

            Glen

          • On July 5, 2020 at 4:30 pm,
            Matthew says:

            Glen, it’s a high risk/high reward situation, for sure. Of course, that’s what makes the big moves possible.

          • On July 5, 2020 at 4:36 pm,
            Excelsior says:

            Glenfidish – Yeah that’s the basic gist. I’d expect there to be a correction in the high $1800’s but it will depend on where it corrects from as to where it pulls back to. Again, once we see that level, then a Fibonacci retracement of 23.6% from the recent low of $1671.70 to wherever the next peak is would be what I’m looking for. Then after that corrective move (likely to the low $1800s will build the energy needed to take on the $1923 all time high and it may take a few attempts to break through, but $1935 would by my first target, but it could keep ripping higher and we’ll need to look at the chart indicators at that time to see what kind of momentum is in place. There could be enough excitement to get it to and through $2000 but we still have a ways to go before then, so first up let’s see how high Gold gets into the $1800’s before it corrects. It appears several technicians agree on the $1880 level, so we’ll watch to see how gold acts up there – (providing it makes it there on this leg).

          • On July 5, 2020 at 4:42 pm,
            Excelsior says:

            Here is a Gold chart showing that recent low at $1671.70

            http://schrts.co/IVTFSkjD

  8. On July 4, 2020 at 7:51 am,
    Dick Tracy says:

    Glen, My comment box is still functioning, I guess they didn’t notice that I stepped out of the circle! LOL! On another note I am interested in taking a speculative position in Nexus Gold. They have a big property in Red Lake adjacent to Pure Gold, and are now drilling there. The volume has been picking up recently and the price is edging slowly higher. Maybe I should get Ex or Rick Rule to rank them. I think Rick might put my pick in the overflow tray. DT

    • On July 4, 2020 at 8:10 am,
      Glenfidish says:

      Hey T,

      The daily looks overbought with such a run..Definitely would by back in at every pull back with targeting .10-.12 and a possibly 16 Cent to 20 cent monthly close.

    • On July 4, 2020 at 12:53 pm,
      Excelsior says:

      Haha DT. In all seriousness you can send your stocks to Rick Rule to rank, and he mentions that in most interviews. There is a R.R. one up above posted in this forum.

      I know 3 people that got their list back and have seen a few others post their rankings back from RR on ceo.ca, but when we looked at them there were so many biases, near-sighted judgements, or favoring companies based on Sprotts involvement that is was rose colored glasses analysis, just like everyone’s rankings would be (including mine).

      There were a few accompanying notes about management team, jurisdiction, size of company, etc… but in most cases RR was not very favorable to the smaller producers or distressed mid-tier, and those are some of my favorite opportunity zones. Other times when discussing his notes versus what news the company was putting out, they were at odds or possibly a dated view of where a company was versus where they were heading if there was new developments.

      That should not come as a surprise because Rick rule has often stated he likes big mines, big tier 1 projects, and the 7 footer management teams, because big mines and big projects will overcome any problems where small mines and small projects may succumb to similar challenges. However RR gets into sweetheart deals in private placements and a free 5 year warrant in the larger to medium companies he likes best, which most investors don’t have access to, and he avoided mant smaller Jrs that didn’t roll over and give up the goods, so I take his analysis with a big grain of salt.

      Personally if a company doesn’t give out 5 year full warrants that is a much stronger management team in my eyes and more friendly towards retail investors. Most larger or medium sized companies don’t give a crap about retail investors or dilution, but warrant overhangs and when those free trading shares hit the markets from guys like Rule, Katusa, or Palisade Radio can stunt the advance of a share price at those levels for some time (especially in the Jr companies). They unload the shares and hang onto the warrants and this often is a big roadblock to companies they favor.

      I also favor the ugly ducklings that are in the midst of a turn-around in operations, or that switched out a management team, or our under-followed and their underlying assets are due for a rotating by the marketplace. I’d rank companies like that much higher than widely followed larger companies that are already much more fairly valued.

      • On July 4, 2020 at 12:56 pm,
        Excelsior says:

        rotating = re-rating

        • On July 4, 2020 at 1:52 pm,
          Excelsior says:

          ** Case in point – over a year ago, on some of these lists, companies like Impact Silver, Santacruz Silver, Aurcana, Dolly Varden, Lion One, Northern Vertex, Jaguar, Minera Alamos, or Silvercorp were not gettting anywere close to RR’s top rankings, but they far outperformed many of the companies he ranked much higher that have been much less active.

          Larger pundits like Rick Rule or many others didn’t grasp that of all the Silver producers the smallest and highest cost producer – (SCZ) Santacruz Silver would crush the rest of the group in 2019 moving up over 300% at one point, precisely because it was small/higher cost and unloved and forgotten. When Silver started moving higher above $19 last year SCZ blew away the rest of the pack because it’s improving margins and getting near breakeven made it the #BestOfTheWorst, very similar in many ways to (IPT) Impact Silver.

          ** Another example was (SVM) Silvercorp where most were giving it marginal to just good ratings, or wouldn’t touch it because it was operating in China. However, I was banging the table on Silvercorp in late 2018 and all through 2019 because it has been and still is the lowest cost Silver producer by a landslide. It has negative cash costs due to the Zinc & Lead credits, and an AISC of around $3-$4, so even at $12 Silver or $15 Silver or $18 Silver it is free cash flowing like crazy. In addition, I knew that SVM had a 29% stake in their lovechild NUAG New Pacific Metals in Bolivia that was about to start drilling last year, and when NUAG knocked it out of the park with really high grade Silver intercepts, this just further underpinned Silvercorp’s value proposition.

          As a result SVM was the best performing Silver Mid-tier or Major producer last year. Again, the reasons for this were obvious to someone looking at the whole field, but may not have been as obvious to a larger pundit with irons in the fire and private placements with other companies, or that had some kind of jurisdiction risk rules that prevented them from buying #TheBestOfTheBest from a economic margins situation.

          Also, it is a daunting task to rank mining companies for just some of these reasons. I have a number of Gold producers (like Roxgold) and developers (like Orezone) in West Africa because there is amazing opportunities there, but some investors won’t go there. I was involved with K92 Mining in Papua New Guinea for most of 2018 – early 2020 but some wouldn’t go there. It was the same with Silvercorp operating in China. Well investors that opted out of those jurisdictions made a choice, and I respect that, but they missed out on some of the best stories in the sector as a result.

          The other thing is many won’t invest in smaller high risk companies, specifically because they have many issues that could take them down. Investing in Santacruz Silver, Impact Silver, Excellon, Aurcana, Dolly Varden, Discovery Metals, Kootenay, etc… is not without risk, and there are many surprise issues that could have come up (gangs, protests, Mexican political changes, tax changes, deaths at a mine, environmental challenges, etc…) that would even be unexpected for the companies and on a small distressed company it could take them down for the count.

          It is different strokes for different folks. Some investors are only comfortable holding the blue chip Major producers like Agnico Eagle or Royalty companies like Franco Nevada, and they would have a totally different risk profile in their ranking that someone that only invests in Gold exploration discovery drill plays.

          The idea of ranking someone’s portfolio is a bit absurd because it is a personal journey. Having said that, DT if you ever want to throw a few ideas out on the table and discuss them and dissect the good, the bad, and the ugly, then that is always fun.

          • On July 4, 2020 at 5:21 pm,
            David says:

            Excellent summary. Perspective is important and has been the goal of the US Federal Government to make it their tool. I prefer yours. Sometimes the Uphill is the best hill.

          • On July 4, 2020 at 7:09 pm,
            Excelsior says:

            Thanks David. I’d rather get your perspectives as well. We’ll keep working on decoding the economic puzzle and keep sharing the good ideas.

          • On July 5, 2020 at 6:38 am,
            Dick Tracy says:

            Ex, you continuously radiate sound thinking, it is good to take a trek away from the harsh realities we are exposed to on a daily basis and reset your mind. I go for long daily walks and I’m sure it helps to improve my mental capabilities. DT

          • On July 5, 2020 at 9:59 am,
            Excelsior says:

            I couldn’t agree more DT. Long walks and in particular long walks in nature really reset the mind, and clear out the messages bombarding us day in and day out- a great reset.

          • On July 5, 2020 at 5:28 pm,
            Matthew says:
          • On July 6, 2020 at 3:08 pm,
            Excelsior says:

            +4.5 Nice flashback.

      • On July 4, 2020 at 2:21 pm,
        John Kruschke says:

        Again well said Ex.
        Not real hard to make money when everything comes with a warrant.That being said, Mr Rule has so much experience and has made so much money in the Resource stocks, listening to him, I always feel I come away a little more intelligent.

        • On July 4, 2020 at 4:02 pm,
          Excelsior says:

          Thanks Johk. Yes, Rick Rule, Doug Casey, Marin Katusa, and Collin at Palisade Radio have mentioned a few times they really just want a portfolio of warrants, and since they have both the connections and funds to put up in private placements when mining companies need the money, they clean up shop as those companies get rerated.

          I enjoy listening to Rick Rule, and have learned a number of things from him over the years, and I posted an interview with him from INN up above in this blog where he has a couple of salient points on the general markets and commodities.

          • On July 5, 2020 at 12:59 pm,
            bonzo says:

            I would rather listen to Big Al, Cory, Frieda, Excelsior, Pierre Lassonde, Matthew, Doc, and Erik W. talk about gold and silver stocks than Rick Rule.

  9. On July 4, 2020 at 8:01 am,
    Dick Tracy says:

    Is anyone here interested in Chesapeake Mining, SYL CKG, they have 18.5 million ounces of gold, 528 million ounces of silver, and 4 billion lbs of zinc and only 51 million shares outstanding at Metates in Mexico. They also own 75% of gun exploration, V.GUN, with some interesting properties in Nevada, and one in Guatemala which is surrounded by a silver property held by Pan American, but not currently operating because of settlement issues with The Guatemalan natives. DT

    • On July 4, 2020 at 8:21 am,
      OOTB Jerry says:

      Is this the one….Sprott mentioned ……?

      • On July 4, 2020 at 9:25 am,
        Dick Tracy says:

        Yes Jerry….DT

        • On July 4, 2020 at 2:01 pm,
          OOTB Jerry says:

          thanks DT…..

  10. On July 4, 2020 at 8:07 am,
    Charles says:

    Hi Dick – Thanks for mentioning Nexus. I missed Pure Gold so this might be the ticket! It would be great to get one of Ex’s lists of all the Red Lake miners.

    • On July 4, 2020 at 8:16 am,
      Glenfidish says:

      For what it’s worth I added more compass on Friday.. I will continue to add as we move into lows or corrections. Any major corrections I will add more heavily.

      Some of the licks I own

      Iamgold
      Impact
      Compass
      Scorpio

      4 others I keep private 🙂

      1 company I have a mother shit load of stock in that if it’s gods higher I will by ker lol.

      Cheers guys

      • On July 4, 2020 at 9:01 am,
        Charles says:

        Thanks for sharing your licks LOL! You have my curiosity up on your private picks!

      • On July 4, 2020 at 11:01 am,
        Matthew says:

        Scorpio just had its first weekly close above the 200 week MA since mid February:
        https://stockcharts.com/h-sc/ui?s=SGN.V&p=W&yr=3&mn=11&dy=0&id=p74153678455&a=659712508

        • On July 4, 2020 at 11:09 am,
          Matthew says:
          • On July 4, 2020 at 11:16 am,
            Matthew says:

            After that, a move to about .18 would probably happen quickly:
            https://stockcharts.com/h-sc/ui?s=SGN.V&p=D&yr=1&mn=6&dy=0&id=p34155181606&a=739216195

          • On July 4, 2020 at 12:44 pm,
            Charles says:

            Matthew – You own Scorpio right? If so, what’s its land package like?

          • On July 4, 2020 at 12:50 pm,
            Wolfster says:

            Lol…..yesterday was the first day since I bought Scorpio 6 weeks ago that I didn’t check to see how it was doing. I did mention it to someone on Thursday as one of the stocks to own if gold does move higher as it would make the mine more economical and therefore more likely to get financing to start production.

          • On July 4, 2020 at 1:17 pm,
            Charles says:

            Thanks Wolfster. I just looked at the corporate presentation and wasn’t all that impressed and assumed it would be more of a short term trade.

          • On July 4, 2020 at 2:44 pm,
            Matthew says:

            I think the properties have great potential and the economics of the 250,000 ounces to be recovered from the leach pad just improved significantly with gold now almost 50% above its feasibility study assumption of $1216 gold. I guesstimate that the NPV has more than tripled year-over-year going from about $35M to about $115M at the current gold price. The more the market gets comfortable with the new high gold price, the better for Scorpio’s ability to obtain the needed financing on favorable terms. I don’t know how much of the project’s profits will be given-up in the financing but it will be relatively less as the gold price rises/risk disappears.

            Then there’s the proven and probable 156,000 ounces of gold based on a $1300 gold price in addition to other assumptions relating to costs (which might be lower now). At $1790 gold, those ounces are worth $76.4M more than they were at $1300 gold.

            I would like to know more about the toll milling contract that was signed in January.

            Even fully diluted, 10 cent SGN amounts to a market cap of just $11.5M (U.S.).

          • On July 4, 2020 at 3:57 pm,
            Excelsior says:

            Agreed on the comments on SGN Scorpio Gold. I’ve been folllowing it for years (and owned it in the last cycle when they used to be a small producer and SGN was actually spun out of Scorpio Mining – who later became Americas Gold & Silver).

            Scorpio Gold got stalled out for a few years during the bear market and eventually imploded and needed to be restructured in late 2015 and that is when my interest returned to them. I got positioned between Oct 2015 through Feb 2016 and have been holding since then, but wasn’t expecting it to take this long to get their plan together. Still, I believe there will outsized gains to be had in Scorpio Gold over the next 2 years.

            They still have the financing need hanging over their head, as mentioned, but after that is set up the dilution is established, I’ll likely average down and get more aggressive with the position. A few positives over the last year is that they are now doing toll milling at one of their 2 mills, and have a great deal of exploration potential with their surrounding exploration targets for shallow open pits at both Mineral Ridge and Goldwedge. It took them a while to get all the permits, but they got that part going and just need the capital to get more work going.

            It should also be noted that Scorpio Gold is on the prolific Walker Lane in Nevada, which has been of particular interest to many enthusiasts of the yellow metal. I’m also invested with Scorpio’s neighbors and advanced developers (WKM) West Kirkland Mining, who is neighbors to (KOR) Corvus Mining another gold developer, and I had a position in (NM) Northern Empire on the Sterling deposit, but they were acquired by (CDE) Coeur Mining – that I own once again. Also last month I got a position going in (GORO) Gold Resource Corp that also has projects along the Walker Lane. Gotta love Nevada!

            >> Here is a map of the Walker trend where you see SGN, WKM, KOR, and the Sterling project is now held by CDE.

            http://www.wkmining.com/_resources/projects/hasbrouck/map.jpg

          • On July 5, 2020 at 3:13 am,
            Charles says:

            Thanks Matthew and Ex for your thoughts.

          • On July 6, 2020 at 5:41 am,
            OOTB Jerry says:

            Question …EX…………?
            Out of the mines located in the Walker Lane…..(from your submitted map)
            which one do you like the best……Thanks

          • On July 6, 2020 at 8:00 am,
            Excelsior says:

            Hi OOTB. As for the Walker Lane projects, I liked the higher grade (for Nevada) Sterling deposit the best, that Northern Empire (NM) continued to explore and expand after Imperial Metals had it previously. Northern Empire went on quite a run higher in 2017 and 2018 and ultimately Coeur Mining bought them out in late 2018, so it is now part of CDE.

            What Corvus has next to Sterling is similar, but I haven’t been as impressed with their strategy the last 2 years, but have considered getting a position now that the gold market is starting to run.

            (GORO) Gold Resource Corp is a producer with properties in Mexico, but also along the Walker Lane trend in Nevada like their producing Isabella Pearl, their development project Golden Mile, and their exploration projects East Camp Douglas, Mina Gold, and County Line. As a producer it is more stable than the smaller developers and explorers, but it won’t have the same torque to the upside, so that leaves the 2 smaller companies WKM and SGN.

            (WKM) West Kirkland Mining is a Developer that is awaiting a development decision on moving their Hasbrouck Gold Project toward production. They have their 1st open pit permitted and they are waiting on the permit for the 2nd pit. They also have the 3 Hills project near Tonopah, NV for down the road. They are moving a little more slowly than I would prefer personally, hoping their gold in the ground will get rerated higher (and it will), but with little news flow the last few years, there hasn’t been much meat to attract new investors.

            Currently West Kirkland Mining (WKM) just announced a name change to West Vault Mining (WVM) and 10:1 share consolidation at the very end of June, and it was effective the end of last week. This tells me with the reduced share count that they may be working on the capital raise to get Hasbrouck into the production in the next 12 month window. Their economic study has a 74% IRR at $1,600 gold, so where it is now at near $1800 gold is fantastic, so I’m looking forward to see if the market starts to re-rate them higher now that they’ll have a tighter share count, have the primary production permit, and just need to raise the mula.

            Of all the companies mentioned, I guess I’m most partial to SGN Scorpio Gold. I owned it in the last cycle when they were producers, then sold and watched them implode during several years of the bear market, then watched them restructure and relaunch in late 2015 and bought in through late 2015 to early 2016 and have held all this time, waiting for them to get back into production. It took them a while to get their permits to start exploring and get one of their mills going again for toll milling other companies gold, but they got that going now. They are exploring at Mineral Ridge and Gold Wedge at present, but just like West Kirkland (now West Vault), they need to do a big capital raise to get their mining and production going again, and I’m not sure how dilutive it is going to be. Once that is announced and can be analyzed and is completed, I’ll likely add to this position in a bigger way, and I guess because it is so tiny in Market Cap and is mostly ignored by the market, it is my favorite, and has the potential to run the most on a percentage basis.

            Cheers!

          • On July 6, 2020 at 9:02 am,
            OOTB Jerry says:

            EX………..THANK YOU VERY MUCH…….for the reply…..and your time….appreciate..

      • On July 4, 2020 at 11:24 am,
        Matthew says:

        A breakout here would probably put IPT over $1 in 5-6 weeks or less:
        https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=5&mn=0&dy=9&id=p70722095932&a=674986562

      • On July 4, 2020 at 12:08 pm,
        David says:

        A few others that I have had a move in since March are: Azimut, Banyan, DeGrey, Ely, Freegold, Great Bear, West Red Lake, Treasury Metals and also own 8 of those Ex metals. I was at an all time low in March and have passed the high of 2016. Ready for the Rally.

        • On July 4, 2020 at 12:11 pm,
          David says:

          My low was actually Feb 21.

          • On July 4, 2020 at 4:13 pm,
            Excelsior says:

            Interesting David. My account was cruising right along until Feb 28th when the bottom fell out. Most of the stocks I hold or have been following crashed down until Monday the 16th. I was adding aggressively as noted above from March 11- March 23 but was still pretty active in adding all the way through mid April.

            Really there have been nice moves in almost every miner since the March lows, but up above I was just highlighting how well the Silver Developers and advanced Explorers have done, many up 1.5 – 3 times.

            There were plenty of Gold stocks that have had fantastic rallies as well though. Maybe tomorrow I’ll work on a few more charts of the Silver Producers, Gold Producers, and Gold Developers for a frame of reference.

            Right now I got to go stock up on craft beers and get ready for the neighborhood fireworks show. Happy 4th!!

          • On July 5, 2020 at 10:31 am,
            David says:

            Ex:
            You got me thinking about the date above (Feb 21) and it did not seem right. Feb 21 was a good total. The low day was actually March 18. March 19 started the turn around. When looking at which stocks were gaining dollar wise the most starting Mar 19, they were fairly consistently Discovery, Ely, Azimut, Great Bear, Lion One, Novo, Silvercrest and occasionally Wallbridge and DeGrey. I picked up some Freegold somewhere in the mix which helped and Pure Gold was sneaking in the back door. There were others doing well % wise but the ones above added more to the portfolio. Thanks for picking up my memory default. Looking forward to silver juniors coming to life.

          • On July 5, 2020 at 11:11 am,
            Excelsior says:

            Hi David – Yes March 18th for the low in your portfolio makes more sense then Feb 21st.

            Mine was on that Monday March 16th, but that week the 16th-18th is when most Gold and Silver mining stocks bottomed. While was buying big from March 11 – March 23, the 2 days where I deployed the most capital was on March 18th for the silvers and March 19th for the golds.

            Yes I’m looking forward to the Silver juniors coming to life, and that is why I posted that bar chart from March 16th to present up above in those 12 Silver Jrs. Most are up 150%-300%+ off their intermediate lows from March 16th. That shows to me that they are starting to come to life, because Silver went from $12-$18 during that period. When Silver gets back above last years high of $19.75 and moves at the 2016 high of $21.23, then the Silver miners will really start to come to life.

            Ever Upward!

    • On July 4, 2020 at 8:17 am,
      Glenfidish says:

      Licks=picks

      Lol

      • On July 4, 2020 at 4:04 pm,
        Excelsior says:

        Glenfidish, you should stick with that idea start your “Licks & Picks” corner.

        Each week you could reveal one of your “secret” company picks, and which ones you hold that had nice gains and licks.

        🙂

        • On July 5, 2020 at 7:43 am,
          Glenfidish says:

          Lol thanks ex! I will give it careful consideration. As you guys know I only hold 4-8 stocks give it take. This is actually a lot more than I’m use to.

          Thanks david, Charles and everyone for sharing your licks lol no picks.

          Matt thank you for your charts, they are the fresh of breath air one needs at the end of the week.

          I believe your impact target as you said will hit.

          • On July 5, 2020 at 11:15 am,
            Excelsior says:

            Sounds good Glenfidish. 4-8 stocks isn’t that many, but if you feel like revealing you licks and picks and “4 secret stocks” please don’t be shy.

            Just a thought, those “secret stocks” may perform better if you don’t keep them secret, as there are over a thousand gold and silver mining stocks all fighting for visibility. 😉

    • On July 4, 2020 at 8:19 am,
      Glenfidish says:

      1 company I have a mother shit load of stock in that if it’s gods higher I will by ker lol. =
      If gold goes higher I will buy kereport lol.

      • On July 4, 2020 at 10:38 am,
        John Kruschke says:

        Erick Wetterling is priceless.
        “The mining business is basically ninety nine percent sh*t.”
        Mining investing 101.

        • On July 4, 2020 at 2:08 pm,
          Excelsior says:

          +1 Gotta love The Hedgeless Horseman!

        • On July 4, 2020 at 3:41 pm,
          Excelsior says:

          Expert who called for $3,000 gold is upgrading forecast

          Jun 24, 2020 – Daniel Oliver Founder, Myrmikan Capital

          “The Federal Reserve’s balance sheet is at risk of devaluation, and should the underlying assets fail, gold will respond by “rising to a price that balances the Fed’s balance sheet,” said Dan Oliver, founder of Myrmikan Capital.”

          “The Fed, as you know, has been on a massive purchasing spree because of the virus situation, and so therefore the equilibrium price of gold is going up commensurately, and so the numbers now to balance that balance sheet are enormously high,” he said. “My [forecast for gold prices] has changed. I’m at $10,000 now.”

          https://www.kitco.com/news/video/show/Mines–Money-Online-Connect-2020/2871/2020-06-24/Expert-who-called-for-#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMines–Money-Online-Connect-2020

          • On July 4, 2020 at 3:43 pm,
            Excelsior says:

            While I don’t doubt that Gold can run to $3,000 or maybe even $10,000, I’d be happy just seeing Gold take out it’s all time high later this year and get into the low $2,000s next year.

            I posted the interview though because I like Dan Oliver and think he has a good grasp of macro economics.

    • On July 4, 2020 at 2:07 pm,
      Excelsior says:

      Hi Charles – I don’t have a definitive list of Red Lake miners, but here is a quick list of the main players to the best of my knowledge:

      – Evolution Mining (bought Goldcorp’s Red Lake Mine)
      – Pure Gold (near term producer)
      – Great Bear Resources (#1 Gold exploration success story of the last 2 years)
      – BTU Metals (prospective properties near Great Bear)
      – Pacton Gold (explorer properties adjacent to Pure Gold & Evolution mining)
      – West Red Lake Gold mines (explorer)
      – Golden Goliath Resources (explorer)
      – Nexus Gold (explorer)
      – Windfall Geotek (explorer)
      – Red Lake Gold (explorere)
      – Frontline Gold (landbank with many properties in Red Lake)
      – Pistol Bay Mining (explorer)
      – Portifino Resources (explorer)

      *** if there are any other miners in Red Lake people know about please post them here. Thanks!

      • On July 4, 2020 at 4:08 pm,
        Charles says:

        Thanks Ex!!

        • On July 4, 2020 at 4:16 pm,
          Excelsior says:

          Sure thing Charles. I’m sure there are more I’m forgetting but that’s a good list to ponder for the Red Lake companies. May your investing be prosperous!

          • On July 4, 2020 at 5:01 pm,
            Wolfster says:

            Wait …..before you post it Ex let me add ………Benton Resources.

          • On July 4, 2020 at 5:52 pm,
            Wolfster says:

            Ohhh another one came to mind….GoldON Resources

          • On July 4, 2020 at 7:06 pm,
            Excelsior says:

            Nicely done Wolfster!!

          • On July 5, 2020 at 4:40 am,
            Wolfster says:

            Rather than pay the price for great bear when I missed its big initial run,I thought I’d see if there was another possible one that hadn’t run yet…..of course just buying gbr any time since marchs selloff would have been the way to go……on a small float basis goldon was attractive with only around 17M shares but I hesitate to buy since the property they have an option on is from gbr and I can’t wrap my head around gbr giving up that property unless they already know it’s chances of success are limited.

          • On July 5, 2020 at 11:24 am,
            Excelsior says:

            that is interesting on Goldon. I’ve seen @Goldfinger promoting it over at ceo.ca but haven’t really dug in yet. Yeah, that is odd that Great Bear would option that to Goldon if they felt it was very prospective. However, it could be that they just have too much to explore (which they do) and decided to leverage the exploration by optioning things out other explorers. That is what Balmoral did with Wallbridge, and then it was WM that really hit the big discovery. Maybe Goldon can do the same… Thanks for the info.

          • On July 6, 2020 at 4:53 am,
            Wolfster says:

            Good point with the wallbridge example…..which is on my shopping list as I take profits on ones that have run

  11. On July 4, 2020 at 12:46 pm,
    russell hamilton says:

    don trump jr girlfriend has covid 19 . No masks is wacky . Biden is boring but safe Putin is a criminal shithead . love and best of health and wealth to you all rsh

    • On July 4, 2020 at 2:48 pm,
      OOTB Jerry says:

      Donald……..moving troops out of Germany, closer to Putin………hummm….
      China Dolls love Biden……

  12. On July 4, 2020 at 1:04 pm,
    John Kruschke says:

    The interview with Mr Felder was very informative as well. His comment about Congress being forced to address issues with the FED could be a whole new can of worms.
    When Silver made it’s historic run in 2011-2012, it would have gone a hell of a lot higher if the CFTC didn’t intervene and change the rules.
    If you go back to 2008 and re examine the Financial crisis you will see the liquidity crisis was pre empted by Bear Stearns Silver Short position that should have sent Silver prices meteoric.But of course the CFTC was involved again.
    There is a lot of built up torque in the price of Silver, once Silver gets going, with out the intervention of the CFTC, I believe we could be witness’s to a once in a lifetime event.

  13. On July 4, 2020 at 5:03 pm,
    blazesb says:

    My private indicator flashed bullish today. More posts in kereport markets section than in politics.

    • On July 5, 2020 at 2:17 pm,
      irishtony says:

      blazesb…..Sod you ,You beat me to it , lol … I was about to post a comment about the split in the two sections……IMO , the metals , wether on paper < or in the hand is the place to be…..Gold is looking fantastic right now………………………
      Under ground , over ground , wombleing free , the future of wealth are we…………

      • On July 5, 2020 at 5:12 pm,
        blazesb says:

        I’m with you on all accounts Tony. Hate when i open Kereport and see politics outnumbering metals

        • On July 5, 2020 at 5:47 pm,
          SilverDollar says:

          +1

  14. On July 4, 2020 at 8:51 pm,
    Sarah says:

    The only pundit with a worse track record on calling markets than Jesse Felder is Peter Schiff. Stick with Trader Vic or Martin Armstrong. Jesse is like the proverbial broken clock.

    • On July 5, 2020 at 7:49 am,
      Glenfidish says:

      If your using Peter Schiff as a barometer for trading in and out than I would agree. He only knows one thing gold is going higher much higher. With that said as long as peter who I believe is a straight arrow and tells it how it is says gold is going higher because of government etc, than I know this bull is still alive. The guy has a track record going way back. He even was the first that i know that kept insisting for years the housing market would crash. I couldn’t hear anyone else in those early days. Funny enough they all jumped on his wagon

    • On July 5, 2020 at 5:47 pm,
      SilverDollar says:

      Sarah: Would you expound a bit with some examples. I’m asking because I happen to believe Jesse is one of the best on a macro sense. Of course, that isn’t necessarily good for a short-term trader…………..just wondering. Thanks.

  15. On July 5, 2020 at 7:02 am,
    Dick Tracy says:

    We still have the problem with us, a problem hardly thought of by most North Americans, because of prosperity since The Second World War. The problem is getting people to understand America’s business and getting the emotional public to respond to it. There is no other problem that is so vital. DT

  16. On July 5, 2020 at 2:07 pm,
    Excelsior says:

    >> This is a fantastic piece from the Visual Capitalist on what to look for in a mining company’s business plan. It is a great exercise to look at one’s holding and analyze how the management team of each company is doing in regards to their business plan.

    They expand on each of these 5 points in the piece. Very worthwhile of consideration.
    _____________________________________________________________

    How to Avoid Common Mistakes With Mining Stocks (Part 2: Business Plan)

    June 9, 2020 – By Nicholas LePan

    1) “The company should articulate a clear vision, versus simply following trends and hoping for the best”
    2) “Time is money, especially in mining. Companies need to build value fast to finance at higher share prices to avoid diluting early shareholders.”
    3) “The mineral exploration business is tough. Smart companies maintain incredible focus to de-risk their projects, while others spread themselves thin with too many projects.”
    4) “Communication and business acumen are the key to take a project to market. Companies that hide behind a wall of geological slides may not have a real story to tell.”
    5) “Quality companies foresee how their project will come together to generate both liquidity and an exit plan for shareholders.”

    https://www.visualcapitalist.com/how-to-avoid-common-mistakes-with-mining-stocks-part-2-business-plan/

  17. On July 6, 2020 at 1:31 am,
    Excelsior says:

    (AR) Argonaut Gold Announces Updated Life of Mine Plan for Florida Canyon, Which Generates Approximately $326 Million of Mine Site After-Tax Free Cash Flow at $1,700 Gold

    3 Jul 2020

    https://ceo.ca/@newswire/argonaut-gold-announces-updated-life-of-mine-plan-for

  18. On July 6, 2020 at 5:04 am,
    Dick Tracy says:

    Enduro Metals reports 144 meters of 3.18 g/t Au in The Golden Triangle. The race is on. DT
    https://web.tmxmoney.com/article.php?newsid=4544576177979559&qm_symbol=ENDR

  19. On July 6, 2020 at 5:18 am,
    OOTB Jerry says:

    GOLD……….Looking good……..J the Long…..

    • On July 6, 2020 at 5:46 am,
      OOTB Jerry says:

      http://www.wkmining.com/_resources/projects/hasbrouck/map.jpg
      EX…..????…….which property, do you like the best that is in the Walker Lane ?

      • On July 6, 2020 at 5:48 am,
        OOTB Jerry says:

        Oh,…..thanking you in advance…. 🙂

        • On July 6, 2020 at 8:07 am,
          Excelsior says:

          Hi OOTB. I just got to catching up on reading here this morning but did a post a response back on the Walker Lane projects up above, but since the weekend is over, I’ll just repost it here as well.

          > As for the Walker Lane projects, I liked the higher grade (for Nevada) Sterling deposit the best, that Northern Empire (NM) continued to explore and expand after Imperial Metals had it previously. Northern Empire went on quite a run higher in 2017 and 2018 and ultimately Coeur Mining bought them out in late 2018, so it is now part of CDE. I own CDE currently, and it has good leverage to PMs for such a large company, but the smaller companies will likely run much higher so we’ll review those.

          >> What (KOR) Corvus has next to Sterling is a similar deposit, but I haven’t been as impressed with their company strategy the last 2 years, but have considered getting a position now that the gold market is starting to run. Corvus really shot higher coming out of the March lows and I’ve noticed an uptick in investors discussing it, but at $385 million market cap, it is more fairly valued at this time compared to other companies. Having said that, it looks like an obvious takeover target from a larger mining company, so there is that.

          >>> (GORO) Gold Resource Corp is a producer with properties in Mexico, but also along the Walker Lane trend in Nevada like their producing Isabella Pearl, their development project Golden Mile, and their exploration projects East Camp Douglas, Mina Gold, and County Line. As a producer it is more stable than the smaller developers and explorers, but it won’t have the same torque to the upside, so that leaves the 2 smaller companies WKM and SGN.

          >>>> (WKM) West Kirkland Mining is a Developer that is awaiting a development decision on moving their Hasbrouck Gold Project toward production. They have their 1st open pit permitted and they are waiting on the permit for the 2nd pit. They also have the 3 Hills project near Tonopah, NV for down the road. They are moving a little more slowly than I would prefer personally, hoping their gold in the ground will get rerated higher (and it will), but with little news flow the last few years, there hasn’t been much meat to attract new investors.

          Currently West Kirkland Mining (WKM) just announced a name change to West Vault Mining (WVM) and 10:1 share consolidation at the very end of June, and it was effective the end of last week. This tells me with the reduced share count that they may be working on the capital raise to get Hasbrouck into the production in the next 12 month window. Their economic study has a 74% IRR at $1,600 gold, so where it is now at near $1800 gold is fantastic, so I’m looking forward to see if the market starts to re-rate them higher now that they’ll have a tighter share count, have the primary production permit, and just need to raise the mula.

          * >>>>> * Of all the companies mentioned, I guess I’m most partial to SGN Scorpio Gold. I owned it in the last cycle when they were producers, then sold and watched them implode during several years of the bear market, then watched them restructure and relaunch in late 2015 and bought in through late 2015 to early 2016 and have held all this time, waiting for them to get back into production. It took them a while to get their permits to start exploring and get one of their mills going again for toll milling other companies gold, but they got that going now. They are exploring at Mineral Ridge and Gold Wedge at present, but just like West Kirkland (now West Vault), they need to do a big capital raise to get their mining and production going again, and I’m not sure how dilutive it is going to be. Once that is announced and can be analyzed and is completed, I’ll likely add to this position in a bigger way, and I guess because it is so tiny in Market Cap and is mostly ignored by the market, it is my favorite, and has the potential to run the most on a percentage basis.

          Cheers!

          • On July 6, 2020 at 9:05 am,
            OOTB Jerry says:

            On July 6, 2020 at 9:02 am,
            OOTB Jerry says:
            EX………..THANK YOU VERY MUCH…….for the reply…..and your time….appreciate..

          • On July 6, 2020 at 10:04 am,
            Excelsior says:

            Always glad to share ideas with you amigo.

  20. On July 6, 2020 at 6:03 am,
    John Kruschke says:

    The history of Nevada and Barrick Gold is very interesting to say the least.
    Those that preach about the Deep State should take some time to see the connection between Barrick founder, who passed away last year, Adnon Kashogi, who I will add purchased Donald Trump’s Yacht when he was sucking for cash,and the sweetheart leases that were given to Barrick by none other than George Bush.

  21. On July 6, 2020 at 7:27 am,
    OOTB Jerry says:

    Rethinking silver and platinum ……..
    https://www.zerohedge.com/news/2020-07-06/silver-and-platinum-bar-deliveries-surge-banks-and-refineries-take-delivery
    On Monday, first-notice data for the July silver contract on the Comex in New York showed the largest single day of deliveries in almost 25 years. Deliveries for platinum on the New York Mercantile Exchange were more than five times the next largest month this year.

  22. On July 6, 2020 at 9:31 am,
    OOTB Jerry says:

    Ending on a good note…………..Bobby says it is Bull Sh..
    http://energyandgold.com/2020/07/06/bob-moriarty-we-are-in-never-neverland/
    Like he said, we have 5% of the population and 30% of the….V…… 🙂

    • On July 6, 2020 at 9:57 am,
      John Kruschke says:

      I am going to call Bull Sh*t on Mr Moriarty, just like he told me for a year and a half here at the KE Report that I was a fool.
      Remember I recommended Bitcoin and also sold at $18,000.00
      Mr Moriarty talks endlessly how the markets are about to crash and at the same time he promotes his Jr miners positions like they are going to have some sort of magical disconnect when and if a “flock” of black swans make their appearance.
      If the stock market crashes, so do the mining stocks. It’s as simple as that.
      The only question is wether there will be some form of financial reset such as Brenton Woods or will the Fed and Treasury throw more cash into the fire thinking this will help it stop burning.
      This is a time where caution is not to be thrown to the wind and as Jim Rogers says”If you drop it on your toes with no shoes and it hurts, it’s probably worth owning.”
      And I’m not talking about steel either.
      Physical Gold and Physical Silver. Get it?

      • On July 6, 2020 at 10:29 am,
        OOTB Jerry says:

        Did you read the first few lines of the article/interview……….I did not want to bring up the V….but, the USA, is in for a sick joke…….
        You might even want to read the entire article, ….Bob, does come up with some good ones..jmo……..of course I always thought he was a little out of it on the manipulation…

        • On July 6, 2020 at 10:34 am,
          John Kruschke says:

          Of course I read the whole article Jerry , as have I read and listened to everything Mr Moriarty has said or written in many years.
          You should stop telling me what to do Jerry and take care of your self.
          I have nothing but respect for Mr Moriarty, with that being said, it doesn’t mean I can’t call BULLSH*T.
          I think Gerald Celente just pushed the button.

          • On July 6, 2020 at 10:47 am,
            OOTB Jerry says:

            Thanks John, for the sound advice………

          • On July 6, 2020 at 10:52 am,
            OOTB Jerry says:

            Virus is still BS…….. 🙂

  23. On July 6, 2020 at 9:53 am,
    Matthew says:

    Silver is up a lot more than gold today which is typically a bullish sign for the whole sector BUT it is also up more than the silver miners which is typically not a bullish sign. So the sector might be in for another move down or it might be that the miners will simply not do as relatively well until silver breaks out, not only versus the dollar but, probably more importantly, versus gold.
    Once again, here’s the SLV:GLD chart to watch (and we’re getting close!):
    https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=0&dy=0&id=p22099702394&a=722423179

  24. On July 6, 2020 at 10:06 am,
    bonzo says:

    Hi Matthew and Excelsior, do you own NULGF? I just bought some@ .0997. Hated to buy it at 4 or 5 times what is was in March, but would hate to miss out if they find an elephant in the Cortez trend in NV this fall. What would you guess an oz of gold in the ground within sight of Barrick ‘s mine in NV would be worth to NEM or Barrick? Thanks.

    • On July 6, 2020 at 10:13 am,
      John Kruschke says:

      Hi Bonzo, not Mat or Ex but I have been tracking them as well.
      They have recently increased their share count from 307 million to 407 million.
      They have made the OTC most active five times in the last six months, (somebody else is watching to)

    • On July 6, 2020 at 10:59 am,
      Excelsior says:

      HI bonzo – I’m only slighly familiar with NuLegacy Gold, and they they’ve been exploring for gold out in Nevada at Red Hill in one of the other trends (it is not Carlin and not Walker Lane which are the 2 I know better).

      I’ve seen a bunch of chatter about them on other forums, but don’t personally know enough about them to have an opinion. Good luck though in your position, and if you feel strongly about them it may be worth me going and doing a little homework. Cheers!

    • On July 6, 2020 at 11:19 am,
      Matthew says:

      Hi Bonzo,
      I don’t own NULGF but the chart gets a thumbs-up from me. It is daily and weekly overbought which might make it more vulnerable here should gold pull back before going higher but a pullback should be bought (in my opinion). However, if the metals breakout soon as I still think they will, the overbought readings won’t be a problem at all. The monthly and quarterly charts are supportive of a long move higher (probably many years).
      If an elephant is discovered within sight of Barrick’s mine, I don’t know what it would be worth but it would be a lot. You can always do the math once it happens, assuming you can compose yourself!
      https://stockcharts.com/h-sc/ui?s=NULGF&p=W&yr=3&mn=5&dy=0&id=p03287079156&a=780238112

  25. On July 6, 2020 at 10:37 am,
    bonzo says:

    Hi John, NULGF just put Quinton H. on their board 2 weeks ago and he is very high on their chances to find an elephant. After hearing his interview with Jay Taylor I decided to buy some now and buy more if it corrects this summer.

    • On July 6, 2020 at 10:47 am,
      John Kruschke says:

      Thanks for that Bonzo.
      I mostly follow shares outstanding, volume and relative strength and don’t really care who does what in the company.With that being said my ears perk up when you mention Quinton.
      I will to buy some shares.
      I don’t like large floats but I do like Elephants.

      • On July 6, 2020 at 11:06 am,
        Excelsior says:

        That is interest in Quinton being involved, and he does look for the largest projects. He’s a “go big or go home” kind of geologist.

        How many companies is Quinton involved with now? I know he’s with Novo, Irving, Lion One, Tristar Gold, Precipitate, Miramont, Eloro Resources, and now NuLegacy. Are there any others?

        I have tons of respect for QH, but at what point has he spread himself too thin? These projects are all over the world with huge distances between them.

        • On July 6, 2020 at 11:23 am,
          John Kruschke says:

          Good comments Ex, I’ll refer back to the link you posted from virtual trader about companies being spread to thin and not laser focusing. I have lost big in the Carlin before, if you were to use a baseball analogy ,I would be batting number five in the line up.
          I may strike out a lot, but sooner or later I am going to hit a homer.
          I like the visibility that Quinton brings to the company. In no way shape or form does this guarantee success but he brings extrinsic value to the company.

          • On July 6, 2020 at 11:41 am,
            Excelsior says:

            Agreed. Quinton is a force of nature, and if he’s involved as a technical director or board member that already has vetted the project from a geological standpoint in my eyes.

            I was in Novo earlier on because of respect for QH, and currently have a healthy and profitable position in Lion One Metals and Precipitate Gold. I’ve been considering Tristar Gold as well.

  26. On July 6, 2020 at 11:21 am,
    Excelsior says:

    Good Vizsla Resources chart from a solid technician over at ceo.ca (@Ty):

    @Ty – “$VZLA Gap to new all time highs today. Looking real good!”

    http://cdn.ceo.ca/1fg6m31-Screenshot%202020-07-06%20at%2018.56.50.png

    • On July 6, 2020 at 11:27 am,
      John Kruschke says:

      I will add that my favorite piece of moose tundra NAK Northern Dynasty hit a 52 week high as well.

      • On July 6, 2020 at 11:44 am,
        Excelsior says:

        I’ve noticed over the last few months Northern Dynasty on the move, on hopes that the permitting may work out. It’s just had so many false starts for over a decade, but Pebble is one of the most well-endowed deposits on the planet, if they can ever get it developed.

        • On July 6, 2020 at 1:15 pm,
          John Kruschke says:

          The Pebble project has been fun. So far my in laws have bought two md-500″s and my daughter and her husband bought a A- Star 350.Thank-you Northern Dynasty.
          I was headed out there this summer but decided not to travel.

  27. On July 6, 2020 at 11:34 am,
    John Kruschke says:

    I tried earlier buying into KLSVF Klondike Silver, but didn’t get any. It is up 32.13% as I type.

    • On July 6, 2020 at 11:47 am,
      Excelsior says:

      I held Klondike Silver for over 2 years but finally sold it neutral to for wash. Their new management team didn’t impress me with how they communicated to the marketplace during that time period, and watched two different corporate presentations where he said he wasn’t going to use powerpoint slides but rather just tell their story…. he rambled aimlessly for about 10 minutes, and I wanted to email their IR dept and say, for the love of God, have him use a slide deck next time.

      That is encouraging that they are springing to life along with so many of the Junior miners lately.

      • On July 6, 2020 at 12:54 pm,
        John Kruschke says:

        Hi Ex:
        Starting to spray some money at the cheapies. In 2016 dollars everything is cheap.I hadn’t looked in some time at the numbers.
        I bought Orex, SilverBull, didn’t get Klondike. Later this week I will follow Bonzo into NULGF. Once Silver gets going these should run just like the big boys even though they are probably junk.

        • On July 6, 2020 at 2:08 pm,
          Excelsior says:

          I have a position in Orex and like Gary Cope & team from the Belcara group, and that they have JV projects with some of the best Majors in the space. Orex went on a big run back in 2016 when folks woke up to Silver, and I see it just starting to stir a little bit again. It isn’t one of the strongest companies, but it should have excellent upside leverage.

          Silver Bull – I like it but don’t own it, but have debated it a number of time. I almost just picked some up during the pullback in the sector a few months back, but opted for Souther Silver instead. Both are very large lower grade deposits with substantial Zinc & Lead credits as well. I believe Silver Bull reports both in Silver equivalent and Zinc equivalent ounces on their exploration results and resource estimates.

          As for Klondike, I believe they’re in the right neighborhood, have the old mill on their property, and permitting should be quite easy, but I just wasn’t sold on the team having the drive to move their project along. It is such a tiny market cap company that it also will move quite a bit.

          Nulegacy looks interesting.

          • On July 6, 2020 at 2:34 pm,
            John Kruschke says:

            Thanks Ex:
            I am always in a bit of awe when you post. Your knowledge is uncanny.
            I use to subscribe to Resource World magazine and have a pretty good knowledge base, but when the Bull went away, so did I. Fortunately I take extensive notes and save everything.
            Thanks for everything. I know we have had our past, with that being said I have come to understand your position and have learned about expressing mine.
            Once again, Good Luck

          • On July 6, 2020 at 3:13 pm,
            Excelsior says:

            Thanks for the kind words and sentiment Johnk, and yes we’ve had our past, but I believe in new chapters, turning the page on the old, and moving forward. I wish you well in your investments and in life as well, and hopefully we can find a few good companies to invest in that allow us to be more prosperous in turbulent times. Cheers!

  28. On July 6, 2020 at 11:43 am,
    bonzo says:

    Thanks for the chart, Matthew. Wish I had bought a million shares at a penny in March, but paying a dime will be a good move if they find the elephant in Sept. NULGF is selling for 40 million now but an elephant could be worth billions to NEM or GOLD. This is a lottery ticket where you could lose it all or make a killing. As Dirty Harry said, “You’ve got to ask yourself, “Do I feel lucky?’ Well. do you?”