A focus on the moves higher in Gold, gold stocks, and the NASDAQ
Chris Temple joins me today to share his thoughts on the continued standouts that are gold and tech stocks. Gold futures are over $1,800 and the stocks continue to play catch up, confirming this breakout. As for the NASDAQ, is higher on weak breadth but that doesn’t seem to matter right now.
Click here to visit Chris’s site and follow along with his newsletter.
Nice. Here comes the market Joy!
I’ll include the link as well for the Brixton drill news at Hog Heaven:
https://ceo.ca/@nasdaq/brixton-metals-drills-1750-gt-ag-539-gt-au-265
BBB up 10.4% on the drilling news so far.
Great commentary as always guys, I am going to add that Geopolitical tensions between Israel and Iran could be influencing Gold as well.
CFS posted that there was a third unexplained explosion at an Iranian Nuclear Power plant.
There was an explosion at an Iranian facility.
I havnt seen a firm report as to what caused it yet.
Apparently damage was not too bad.
Some time ago, potential war had no affect on the metals, even when Russia was facing off with the americans at times, so imo its still the printing thats causing the rise in golds price.
NEWS COMING ?
Vizsla Resources Corp
Symbol VZLA
Vizsla Resources halted at 9:29 a.m. PT
Here is Eric Coffin’s take on the VZLA halt.
@HRA-Coffin – “I think we can assume they didn’t halt the stock because its dusters. They’re not idiots. Best guess is they have most of the results and are waiting for the last few, or some overlimits or something and felt it was material enough that they had to halt. Not sure it’s strictly “necessary” but that is a decision every management group makes for themselves. $VZLA”
@HRA-Coffin – “It won’t be duster. Listen to the zoom call I did after the last release with Mike and Charles. Charles made it fairly plain the holes he was drilling and waiting for had core that looked pretty much the same as the last ones they released. I’m not even a little bit worried about the stock going higher. $VZLA”
Wow! VZLA Vizsla is up 72% on the news.
KABOOM!!
GoGold drills 18.4 m of 889 g/t AgEq at Los Ricos
2020-07-07 10:47 ET – News Release
Mr. Brad Langille reports
GOGOLD INTERSECTS 18.4M OF 889 G/T SILVER EQUIVALENT INCLUDING 3.2M OF 4,335 G/T IN RASCADERO AREA OF LOS RICOS SOUTH
That is also an impressive drill intercept from GoGold.
The Nasdaq has been very strong even versus gold since the March low:
https://stockcharts.com/h-sc/ui?s=%24NDX%3A%24GOLD&p=D&yr=1&mn=6&dy=0&id=p85395216623&a=780748887
First Mining drills 9.6 m of 5.46 g/t Au at Goldlund
2020-07-07 07:47 ET – News Release
Mr. Daniel Wilton reports
FIRST MINING INTERSECTS 5.46 G/T GOLD OVER 9.6 METRES AND 2.51 G/T OVER 22.0 METRES AT THE GOLDLUND GOLD PROJECT, ONTARIO, CANADA
That’s good news for (TML) Treasury Metals as well then since they are acquiring Goldlund.
SLV is finally breaking out but the important thing is Friday’s close:
https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=6&mn=0&dy=0&id=p12865654017&a=727972963
Pure Gold drills seven m of 46.7 g/t Au at Red Lake
2020-07-07 06:42 ET – News Release
Mr. Darin Labrenz reports
UNDERGROUND DRILLING AT THE PUREGOLD RED LAKE MINE INTERSECTS 46.7 G/T GOLD OVER 7.0 METRES
Pure Gold continues to hit paydirt and expand their already fantastic high grade deposit.
PGM Pure Gold closed up 12% on that news today. Excellent action for a developer.
Wow — I remember about 20 years ago, when I was at Madsen with several others. One of them was the best mining analyst on Bay Street…but he didn’t like Madsen area for some reason. Kudos to Pure Gold for their work.
The Gold Miners Index (GDM) is at a new 7 year breaking through important speed line resistance:
https://stockcharts.com/h-sc/ui?s=%24GDM&p=D&yr=1&mn=11&dy=0&id=p40223680463&a=673663556
SILJ:GDX “do or die” time:
https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=D&yr=0&mn=10&dy=0&id=p72081949632&a=745541155
(I think it will “do”)
IPT is breaking through a very important speed line that is based on the 2016 high and the low that followed more than 2 years later:
https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=5&mn=0&dy=9&id=p96749908498&a=674986562
ITH is up another 20%? again today.
Must be nice. It is currently 60% above its 2016 high.
I haven’t owned it since 2010 (the year it topped $10).
Not that I know anything, but my guess is it goes to $15-$25 this time, cdn.
Another one I think will move is seabridge, its low cdn was about $4.50 its $25 now, I can see that hitting $100 or more.
Course maybe an earthquake happens and it all end up on the ocean floor.
Ive had a mine cave in once or twice, just as they looked to pay off so surprises happen.
As well as viens just simply unexpectedly end.
Risky this jr mining.
Big Funds to Pull Money Out of Stocks: 2nd Wave to Hit Economy
by @TheTechnicalTraders on 7 Jul 2020
TOPICS IN THIS INTERVIEW:
-Big funds to pull money out of markets.
-Falling dollar to really start to benefit gold
-Gold miners showing signs of life.
-$2,000 gold will change people’s mindsets in gold.
https://ceo.ca/@thetechnicaltraders/big-funds-to-pull-money-out-of-stocks-2nd-wave-to-hit-economy
Yup, $2000 will change some thinking, but that change could begin sooner than that.
A shade over $1900?
Yes, once the yellow metal takes out it’s all time high of $1923, then the sparks will fly.
Really with Gold over $1800 the Gold producers should be banking the free cash flows, and if one looks at how undervalued they are compared to when Gold was last at these price levels in 2011, then there is still a lot of catching up to do for the producers.
________________________
I had posted this over at ceo.ca earlier regarding the HUI in the last cycle versus this one:
If one looks at where the $Gold #producers were trading back in 2011 when the yellow metal was last at these levels, then there is still quite a bit of catching up to to and it represents an interesting buying opportunity indeed.
> #Chart showing $HUI Gold bugs index in relation to the $Gold price
HUI……..looked good this morning………by the chart HUI , is dragging a little behind…as you say…..”a little catching up to do.”(I corrected your to to).. 🙂
but, looks good going forward………jmo
OOTB – thanks for correcting my to to. 😮
The catching up in gold producers is definitely a “to do”
🙂
Kootenay Silver (KTN) (KOOYF) – High-Grade Mexican Silver Trying to Excite the Market
CRUX Investor #AudioInterview
2:52 – Company Overview
4:31 – The Foundation: Business Plan and Searching for Partners
6:38 – Dependence on Silver Price: How it Affects Decision Making
11:00 – Columba Silver Project: What’s There? What’s Slowing Development?
23:02 – Assessing and Timing Silver Cycles: Will They Make it?
27:26, 35:18 – Cash Position: Large Team = Large G&A?
28:07 – Copalito Silver-Gold Project: Structured Plan vs Figuring it Out on the Way
37:28 – Exciting the Market: Timeline for Deliverables
43:10 – Place Your Bets: Predictions for Silver Price
Vizsla put out halt notice. Most expect maybe some more good drill results premarket tomorrow. Watch for it…
Regarding VZLA – I posted a few of Eric Coffin’s thoughts up above, but he added this regarding Vizsla’s halt today.
____________________________________
@HRA-Coffin – “They will be reporting new Hole(s) from the same trend as the holes in the last release. They may have had “overlimit” assays (probably did, in fact). Most assay procedures work best within a certain grade range. Over that amount the lab will rerun the samples using a procedure better suited to high grade material. The sort of grades reported in the last release would have required some of the samples being rerun as over limit samples. It wouldn’t be a huge batch of samples. Getting a few over limits done shouldn’t take long. Especially if they are pushing the lab for results as I’m sure they are”
Gadzooks!! VZLA Vizsla up 72% so far on the news. I just trimmed back some of position into the strength. Buy the rumor, and sell the news….
(ERD) (ERDCF) Erdene Intersects 5.5 Metres of 126 g/t Gold Including 1 Metre of 582 g/t Gold at New Bayan Khundii Zone And 15 Metres of 26 g/t Gold Including 1 Metre of 338 g/t Gold
by @nasdaq on 7 Jul 2020
https://ceo.ca/@nasdaq/erdene-intersects-55-metres-of-126-gt-gold-including
(ERD) (ERDCF) Erdene Intersects 5.5 Metres of 126 g/t Gold Including 1 Metre of 582 g/t Gold at New Bayan Khundii Zone And 15 Metres of 26 g/t Gold Including 1 Metre of 338 g/t Gold
by @nasdaq on 7 Jul 2020
https://ceo.ca/@nasdaq/erdene-intersects-55-metres-of-126-gt-gold-including
Ex, did you sell your Discovery yesterday, I noticed it went down today and was due for a correction. Lots of good drill results out today, Anaconda moved up as well. DT
I trimmed 33% my Discovery position last Friday but am just holding the balance of the position for more drill results over the next month or so.
I trimmed 25% of my Anaconda position today into the strength, but left 75% on to ride.
I also picked up some (MTA) Metalla Royalty and Streaming today and an initial tranche starter position in (TIG) Triumph Gold, as it looks undervalued still and I’ve had it on my watch-list for a while.
(TIG) (TIGCF) Triumph Gold – Corporate Presentation
“Finding Gold in the Yukon”
https://www.triumphgoldcorp.com/wp-content/uploads/CorporatePresentation.pdf
Well not to start an argument Ex but it’s up 3x from its march low as well. I think that’s the problem with just about all the pm jrs. They got way oversold in march. The real way to look at undervalued is where are they now in relationship to pre crash levels.
Yeah, I agree with you Wolfster that almost all the miners got really oversold a few months back in the crash, but I feel that Triumph Gold looks undervalued compared to their peers and the pre-crash levels, where it also seemed undervalued.
The point of the 2 dozen explorers and 2 dozed developers in the charts I posted was to show how aggressively that they were bid back by the marketplace, and on increasingly high volumes that we haven’t seen in a while. (and there were many more companies not included that had similar moves, as their are about 800-1000 Gold & Silver explorers and developers).
This leads me to believe that there is new generalist money finally working it’s way down the food chain into the junior miners, as many of them are breaking out way above prior levels that resource investors on their own were unable to break them out. Now, we’ve seen evidence of new capital inflows, for example, in the big swath of Robinhood investors that have started nibbling at dual listed companies, so I’m sure there are plenty of locked down Canadians, Americans, Aussies, Europeans, Middle Easterners, and Asian investors that have also been locked down at home or lost their jobs and that are using a variety of trading platforms to nibble at speculative sectors. We knew that day would come and it appears the extreme washout in all the markets during a stay at home pandemic, brought in a new generation of traders.
Doesn’t mean I didn’t like triumph. I bought some of it along with goldon. Had to sell some pure gold. Was just getting way to big a percentage of my portfolio
Yeah that is the way things go with resource investing, and it is an art on when to take profits and when to let a position ride. I trimmed my Pure Gold a bit last week, but it has gone up more since then, and is up again today. Triumph is down so far today, even though the metals are running higher. I trimmed back my Vizsla today after it exploded higher. If there is a corrective move that pulls either back down, then I’ll buy those partial positions back.
Yeah I had to unload some vizsla at the open today. How can one not when you bought for .445 just a few weeks ago. 😉…..used it buy my favourite pot stock. IMCC. Wanted something outside of the resources
Hey guys, where’s the Doc, it would be nice to hear what his thoughts are on the technicals on gold at the moment?
The moves in the Gold Explorers have been very strong multibaggers the last few months. There are literally hundreds and hundreds to sift through, but here is a #Chart showing a dirty dozen off the March 16 sector lows.
MKR.V – Melkior Resources up 980%
TUO.V – Teuton Resources up 674%
AMK.V – American Creek Resources up 622%
BYN.V Banyan Gold up 575%
TUD.V – Tudor Gold up 462%
OMM.V – Omineca Mining up 415%
GPG.V – Grande Portage Resources up 409%
GNG.V – Golden Goliath up 356%
ADZ.V – Adamera Minerals up 320%
SIG.CA – Sitka Gold up 292%
ENDR.V – Enduro Metals up 273%
NUG.V – NuLegacy Gold up 271%
http://cdn.ceo.ca/1fga7ga-Gold%20Explorers%20Performance%20Since%20March%20Lows.JPG
Here is a #Chart of a second dirty dozen Gold Explorers that have moved up nicely off the March 16 sector lows.
GBR.V – Great Bear Resources up 268%
PLY.V – Playfair Mining up 257%
GGO.V – Galleon Gold up 243%
ECR.V – Cartier Resources up 212%
AMX.V – Amex Exploration up 210%
BAY.V – Aston Bay up 187%
PRG.V – Precipitate Gold up 182%
NRG.V – Newrange Gold up 175%
ORX.V – Orefinders Resources up 160%
HIGH.V – Highgold Mining up 146%
WGO.V – White Gold up 144%
BTU.V – BTU Metals up 133%
http://cdn.ceo.ca/1fga8b4-Gold%20Explorers%20Part%202%20Performance%20Since%20March%20Lows.JPG
#Chart of a dirty dozen Gold Developers, which have been rather strong coming out of the March 16 sector lows.
ITH.TO – International Tower Hill Mines up 484%
ORE.V – Orezone Gold up 304%
ERD.TO – Erdene Resource up 264%
SKE.V – Skeena Resources up 259%
PGM.V – Pure Gold up 240%
TML.TO – Treasure Metals up 239%
MQR.TO – Monarch Gold up 231%
GQC.V – Goldquest Mining up 216%
LGD.TO – Liberty Gold up 215%
MGM.V – Maple Gold up 200%
MAI.V – Minera Alamos up 170%
NVO.V – Novo Resources up 149%
http://cdn.ceo.ca/1fga8d7-Gold%20Developers%20Performance%20Chart%20Since%20March%20Lows.JPG
#Chart showing a 2nd dozen Gold Developers, which have been rather strong coming out of the March 16 sector lows.
FPRGF – Falco Resources up 143%
MAX.TO – Midas Gold up 140%
SBB.TO – Sabina Gold & Silver up 125%
MOZ.TO – Marathon Gold up 124%
LIO.V – Lion One Metals up 115%
WKM.V – West Kirkland Mining up 108%
IRV.CA – Irving Resources up 106%
OSK.TO – Osisko Mining up 95%
BTR.V – Bonterra Resources up 84%
PRB.V – Probe Metals up 81%
ATC.V – ATAC Resources up 81%
BSR.V – Bluestone Resources up 79%
…. and then there was (FVL) Freegold Ventures in a league of it’s own up over 2500%:
EX………..thanks for all the info……….as always……appreciate the list……
OWL and Cory… should be paying you some THANK YOUS………
You are the Clue, holding this section together……JMO
As well as MATTHEW……on the charts…..
The hard work has been put in by both you guys……over the last 10 yrs……
Everyone should be appreciative……..which I know a few are….jmo
Clue……to Glue…….
Thanks again. I thought you were saying i had a “clue”. 🙂
I’m content with being “glue” though. (lol)
I was thinking of the political section……when I was printing …”clue”…..Ha,ha,
what a mess……clueless at best…..lol 🙂
Thanks for the kind words OOTB. It is appreciated, as sometimes I’m not sure it is worth all the work & time to post all this information, but getting to chat with folks like you makes it worthwhile.
I should also point out that the explorers and developers I posted up above are clearly not an exhaustive list of companies, as there are hundreds and hundreds of gold explorers and developers. However, it was big enough sample size to illustrate the point of just how aggressively these Junior mining stocks have been bid up huge numbers of the global population has been stuck at home since March. I was mentioning to Wolfster up above that we have finally seen larger capital flows from generalist investors coming back into the sector again, and there has been a new generation of at home traders created by the pandemic lock downs.
Cheers!
That is why , it is important for the communication, ….for like minds to help confirm what is going on….in this sector…..because this sector is not easy.
I would almost guarantee this place would have little to zip info. , if, you and Matthew had not kept contributing…..again thanks….
Agreed OOTB. The whole reason most people seek out forums like this in the first place is to learn and gather insights, and to bounce ideas off of other like-minded people for a little community. As you mentioned it is nice when people take the time to contribute and communicate. Thanks again man for all that you have contributed over the years. When I started reading in 2010-2011 you were one of the folks that was a regular contributor. I didn’t start posting until 2011 occasionally and then more regularly in 2012, but you were a constant source of info then and have been ever since. Keep on keepin’ on!
Thank you……..Hoping to keep on keepin’ on…….If, I get kicked off again, I know you have my back….. thanks for that….. 🙂
Thanks OOTB. I always have had your back amigo, and never understood why Big Al kicked you off in the first place.
🙂
Yes, thx for the posts.
Personally I have my own picks, there are far more enticing opportunities than I have cash for so I pretty much stick to the few I know.
I do enjoy asking myself how I could miss the occasional one tho. 😉
Tuff to dance with all the girls.
The posts I really enjoy is the political posts, wish you would opine on occasion EX, you used to and I really enjoyed those. Mat has definitely come up with some good stuff.
Lately John has been entertaining.
Jerry you know far too much for me to follow properly but its good info for certain.
Thx to all
Thanks b. Yes, there are too many Jr miners popping to have the funds to be in such a large group, and it makes sense to invest in what you know as well.
As for the political/philosophical/world religions/secret societies/hidden or forgotten history/or new science posts etc… I generally try to keep them off the investing editorials, although sometimes the conversations take place where they develope organically. I also found some of my ideas may be a bit too non-conventional at times on certain topics where folks have entrenched belief systems that they want to defend, so the KER doesn’t seem like the appropriate platform to have those debates. As a result, I generally just post occasionally now on more mainstream issues or western US based commentators.
If people want to peel back the layers of the belief systems and more fringe or taboo research, then there are thousands of other platforms better suited for those kinds of topics.
Regardless, thanks for the kind words b.
b…….thanks for the kind words…..Politics is like gold, ….you better have a little info., so, you do not get screwed….
Oh,….I forgot… the 🙂
Thanks for the kind words b. Yes, there have been so many PM miners popping it’s hard to even take it all in. As you mentioned it is best to invest in what one knows, and the companies you follow closest, as you mentioned.
As for the political/religious/philosophical/secret societies & deep state/forbidden forgotten history/ new science/ and other topics I have ranted on previously, I’ve found that many folks on public forums tend to clutch too deeply to their entrenched programmes belief systems, to even allow an alternate explanation or new understanding into their pattern of conscious loops. Now a days I generally try to keep them off the investing threads and stick to current events and more acceptable discourse in the political editorials, or to bring some humor and levity to those discussions where people are taking themselves and their opinions and beliefs too seriously. There are many other places to go online to get into the other kinds of discussions, so since this is first and foremost an economic forum, I look at local/national/global events that may affect the economy and business – like the shut downs, riots, kids possibly not returning to school next year, energy sector political biases, trade wars, currency wars. taxation, disruptive technologies, etc…
Sorry for a bit of a double post. My phone said the initial one was waiting moderation, then it just disappeared, so I retype a new message based in what I could recall.
Weird that the old one showed up later…
Glen, should be happy today…… 🙂
Yep. Gold at $1814 on the futures. Happy times all around…. 🙂
Gold futures just ratcheted up to $1827.
This should give the gold miners a nice boost.
Ditto………..Looking good………. 🙂
Silver should be breaking out of the $21 range…..time to stock up….
Yes, Silver is on the move as well up over $19 again.
The PM sector continues to wake up.
(ROXG) (ROGFF) Roxgold Produces 32,812 Ounces in Second Quarter; Guidance Maintained
by @businesswire on 8 Jul 2020
https://ceo.ca/@businesswire/roxgold-produces-32812-ounces-in-second-quarter-guidance
SILV – 3rd- 70 Bagger since Western Silver & Minefinders
+70 Well done Marty!
The chart is impressive…….thanks for the heads up……5 yr
What I still like best, SILV WILL BE PROFITABLE SINGULARLY FROM GOLD OR SILVER. AND ALONG WITH Alexco, by the time production starts in the next 6-18 months, both companies will be cash cows virtually immediately.
Yes agreed Marty. Silvercrest and Alexco will have excellent costs and economics due to their very high grades, and will hit the ground running when they move into production in the not-so-distant future… and that is easy to like for sure.
Brixton Metals drills 224.85 m of 78.16 g/t Ag at Hog Heaven.
2020-07-07 10:50 ET – News Release
Mr. Gary Thompson reports
BRIXTON METALS DRILLS 1,750 G/T AG, 5.39 G/T AU, 2.65% CU OVER 1.37M WITHIN A BROAD 224.85M OF 78.16 G/T AG, 0.66 G/T AU, 0.24% CU AT ITS HOG HEAVEN PROJECT