Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 15 Jul, 2020

All this talk about a correction needed for gold stocks – We discuss

Jordan Roy-Byrne joins me for a close look at the action in gold stocks in a broad sense. There are a lot of analysts waiting for a correction but the stocks keep moving higher. Jordan and I discuss what a reasonable correction would look like and where he sees opportunity in the sector.

Click here to visit Jordan’s site for more metals commentary.

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Comments:
  1. On July 15, 2020 at 1:30 pm,
    Excelsior says:

    Silver finally made it over last year’s peak of $19.75 today, closing up to $19.76 and then moving up to $19.83 in after hours trading!

    Next resistance at the 2016 high of $21.23 – does Silver has the juice to make it there on this move, or will it need to rest and consolidate first before charging higher?

    Regardless, technical progress was made on the chart today. I’d like to see Silver Still close up above $19.75 on the weekly close as well to anchor the move higher.

    Cheers!

    https://www.tvovermind.com/wp-content/uploads/2017/04/great_gatsby.jpg

    • On July 15, 2020 at 1:58 pm,
      David says:

      Yesterday I cleaned and re-stained our deck. I decided I would ‘t watch for a day or so. Today I got back to changing “happy” to “glad” in my portfolio. Added to Contact Gold, kootenay, Nulegacy, Riverside , Treasury and Southern Silver. Still trying to recover from staining the deck. Not as easy as it was 40 years ago. OK, let’s get the silver bullet fired off. Don’t want it to stop until Jamie Dimon sings. Onward and upward or through.

      • On July 15, 2020 at 2:45 pm,
        Excelsior says:

        Yes David, sometimes the best plan it to get away from the screen and numbers, reset, and come back to it with fresh eyes. I’m glad you skipped yesterday as it was boring/bearish, but today was quite peppy in the metals and miners.

        • On July 15, 2020 at 2:54 pm,
          RICHARD/DOC says:

          I’ve had a large position in Nulegacy for years now and will add to my position soon. And then it’s a waiting game until the fall of this year when they should come out with results on the most important site of their land package. Let’s hope we hit the jackpot. Except for that the only other negative is the large number of shares.

          • On July 15, 2020 at 4:41 pm,
            David says:

            Quinten Hennigh was doing an interview with someone recently where talked about the large number of shares and mostly blew it off. He made another comment about them “smoking Barrick” in the deal. Which I assumed meant they got a good deal but they paid in shares. Just guessing. I any event QH was very high the the land package and potential based on his own knowledge and experience. It appears worth taking a chance but not betting the farm…yet.

          • On July 15, 2020 at 4:47 pm,
            Excelsior says:

            It is interesting that both Quinton Hennigh and Barrick are also involved with PRG Precipitate Gold. I picked up a bit more of it today.

          • On July 15, 2020 at 4:54 pm,
            Excelsior says:

            (PRG) (PREIF) Precipitate Gold – Corporate Presentation:

            https://www.precipitategold.com/assets/docs/2020_07_01_PRG_Corp_Presentation.pdf

      • On July 15, 2020 at 9:12 pm,
        Excelsior says:

        David – you mentioned a few good adds there. I’m a fan of Treasury Metals, Kootenay has been getting a bid, and have been happy to see Southern Silver starting to wake up as folks realize how large their undeveloped deposit is.

        I need to rebook at Riverside. Blue on here had me looking a few weeks back and I liked what I saw.

        • On July 15, 2020 at 9:15 pm,
          Excelsior says:

          BTW – hope you feel better tomorrow after staining the deck yesterday… those kinds of projects always seem easier in one’s mind than the reality of physically knocking them out.

  2. On July 15, 2020 at 1:34 pm,
    Matthew says:
    • On July 15, 2020 at 1:35 pm,
      Matthew says:

      On July 13, 2020 at 1:21 pm,
      Matthew says:
      Silver did manage to make and close at a new multi-year high:
      https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=5&mn=7&dy=0&id=p92804171151&a=500464214

    • On July 15, 2020 at 1:53 pm,
      Excelsior says:

      Well with 15 minute to close it doesn’t look like Silver is going to pull off taking out last year’s high of $19.75. Currently back down to $19.50.

      Silver gave resistance 3 good wacks at the pinata today, but no candy. 🙁

      On July 13, 2020 at 12:59 pm,
      Excelsior says:

      As as result, most of the Silver stocks that were up handsomely earlier today, have pulled back hard over in the afternoon trading, and most went from positive to negative on the day.

      _____________________________________________

      When I looked even an hour later that day Silver was still showing at $19.50 on Investing.com, Yahoo, and Bloomberg (not $19.79) Did a futures contract roll over where they are now using that price point on stockcharts? I remember most silver investors being bummed out it couldn’t clear the 2019 high on Monday or yesterday, so it closing at $19.76 today seemed like reason for celebration.

      Regardless, either way, the impulse leg to a higher high this year over last year’s high has definitely been confirmed this week, and it would be nice to see a close above $19.75 on the weekly candle as well.

      • On July 15, 2020 at 1:54 pm,
        Excelsior says:

        That top comment was from July 13th as well.

        • On July 15, 2020 at 2:16 pm,
          Excelsior says:

          On Yahoo it shows the close at 4pm on Monday was $19.45 (about a nickel less than when I made the comment with 15 minutes left in trading on Monday when Silver was at 19.50. I don’t believe that closing price is correct on stockcharts for Monday, and it looks like they are using the daily high instead of the closing price.

          Today was the first close above the $19.75 as far as I can tell.

          Again, moot point in that Silver has clearly broken higher here.

      • On July 15, 2020 at 2:20 pm,
        Matthew says:

        Multiple sources showed the same as stockcharts on Monday. Maybe you saw after hours trading (that’s what Investing dot com is showing now).
        It is bullish that silver exceeded Monday’s high today.

        • On July 15, 2020 at 2:32 pm,
          Excelsior says:

          Yeah I was checking multiple sources on Monday when I made those comments and Investing dot com shows $19.45 as well at 4pm on Monday which was the end of the trading session. I believe Bloomberg showed $19.44 and so did ceo.ca at that moment.

          I posted over at ceo.ca after the close on Monday and wrote this:
          _______________________________________________

          @Excelsior – “Well $Silver couldn’t hold onto the gains and take out last year’s high of $19.75, closing below it around $19.44.

          ” #Silver gave resistance 3 good wacks at the pinata today, but no candy.”

          “As as result, most of the Silver stocks that were up quite handsomely earlier today, pulled back hard in the afternoon trading, and most went from positive to negative on the day.”

          https://ceo.ca/silver?28a13a0a459b

          ____________________________________________

          Regardless, as you mentioned, Silver’s high today was the highest of the week and the highest in many years, so that is quite encouraging. The Silver miners responded to this as well.

  3. On July 15, 2020 at 2:10 pm,
    David says:

    Some silver positives: Discovery, Eloro, Excellon, GR Silver, Impact, Kootenay, Silvercrest, Silver Bear, Silver Grail, Santacruz, and others in US. GR near 15% in US.

    • On July 15, 2020 at 2:25 pm,
      Excelsior says:

      Yes agreed David. Many of the Silver stocks had a nice green day.

      Symbol – Silver Producers positive on the day – Daily Change %

      HOC.L Hochschild Mining plc +12.62%
      MYA.TO Maya Gold and Silver Inc. +9.82%
      SBR.TO Silver Bear Resources Plc +9.68%
      IPT.V IMPACT Silver Corp. +5.26%
      CDE Coeur Mining, Inc. +5.19%
      GGD.TO GoGold Resources Inc. +5.04%
      HL Hecla Mining Company +4.49%
      FRES.L Fresnillo Plc +3.68%
      ASM Avino Silver & Gold Mines Ltd. +3.32%
      EXK Endeavour Silver Corp. +3.21%
      SVM Silvercorp Metals Inc. +2.99%
      SCZ.V Santacruz Silver Mining Ltd. +2.63%
      USAS Americas Gold and Silver Corporation +2.45%
      GPL Great Panther Mining Limited +2.31%
      PAAS Pan American Silver Corp. +1.76%
      EXN.TO Excellon Resources Inc. +1.12%
      FSM Fortuna Silver Mines Inc. +0.78%
      AG First Majestic Silver Corp. +0.77%

      • On July 15, 2020 at 2:37 pm,
        Excelsior says:

        Symbol – Silver Developers and Explorers up on the day – Daily Change %

        REX.V Orex Minerals Inc. +36.36%
        GGX.V GGX Gold Corp. +31.25%
        PSL.V Prospero Silver Corp. +25.00%
        SSE.V Silver Spruce Resources Inc. +22.22%
        IVR.AX Investigator Resources Limited +19.05%
        NBR.V Nubian Resources Ltd. +18.75%
        GRSL.V GR Silver Mining Ltd. +12.70%
        MSV.TO Minco Silver Corporation +10.94%
        KTN.V Kootenay Silver Inc +7.69%
        CMB.V CMC Metals Ltd. +6.25%
        AUMN Golden Minerals Company +6.24%
        AXU Alexco Resource Corp. +5.53%
        DEF.V Defiance Silver Corp. +4.76%
        SVL.AX Silver Mines Limited +4.55%
        CCW.V Canada Silver Cobalt Works Inc. +3.51%
        DV.V Dolly Varden Silver Corporation +3.13%
        RRI.V Riverside Resources Inc. +3.13%
        VGLD.V Vangold Mining Corp. +2.94%
        DSV.V Discovery Metals Corp. +2.61%
        G1A.AX Galena Mining Limited +2.27%
        VIPR.V Silver Viper Minerals Corp. +2.13%
        AZT.V Aztec Minerals Corp. +1.47%
        SIL.TO SilverCrest Metals Inc. +1.40%
        AAG.V Aftermath Silver Ltd. +1.39%
        NUAG.V New Pacific Metals Corp. +1.31%
        MMG.V Metallic Minerals Corp. +1.15%
        CD.V Cantex Mine Development Corp. +0.79%
        MAG.TO MAG Silver Corp. +0.44%
        BCM.V Bear Creek Mining Corporation +0.36%

        • On July 15, 2020 at 2:40 pm,
          Excelsior says:

          That was quite a move in REX Orex today, and I kept looking at my account in surprise, and couldn’t see any discernible reason for it, but I guess Gary Cope emailed back that the reason some officers sold previously in the open market was to be able to support the capital raise, so maybe folks saw that as a positive indicator.

          • On July 15, 2020 at 2:43 pm,
            Excelsior says:

            Correction it was a phone call a fellow investor had today with G.C. –

            @realRobMorrison – “I called Gary and asked him about the selling. The explanation he gave is very simple , the process is called a “Gypsy swap”. Certain funds aren’t allowed to own stock with a hold on them so management will sell their personal free trading paper and use the proceeds to buy back into the financing. So we should see Gary make a net gain on his share position when the second tranche closes. Gary believes in the stock so he is willing to take the hold and in this case gains the half warrant as well.”

            https://ceo.ca/rex?56c54a2da82c

          • On July 16, 2020 at 8:51 am,
            Excelsior says:

            Dang – (REX) Orex is on the move again today. I’m thrilled about this, as they were one of the better silver stocks to have owned in the 2016 surge until they and their partners Canasil ran into unexpected metallurgical issues back then. Since that time, Pan American has purchased Canasil’s part of the project and they own 60% and Orex owns 40% and maybe PAAS has solved the metallurgical concerns as they are getting more focused on it. Also REX has a different JV partnership with Fresnillo on a different Silver project. They also have a 3rd smaller gold project that seems more non-core. My interest in Orex is to see if Pan American Silver or Fresnillo either buys them out, or buys one of their projects off them for a pretty penny.

    • On July 15, 2020 at 2:53 pm,
      Excelsior says:

      (VZLA) (VIZSF) Vizsla Adds Third Drill Rig and Increases Exploration Program at Panuco Silver Project, Mexico

      by @newswire on 15 Jul 2020

      https://ceo.ca/@newswire/vizsla-adds-third-drill-rig-and-increases-exploration

      • On July 16, 2020 at 9:02 am,
        Excelsior says:

        … and Vizsla is off to the races again today on this news, up about 11% thus far.

  4. On July 15, 2020 at 3:31 pm,
    Wolfster says:

    As great as the metal stocks have been,I have to point out how the good pots are trading as well……those planet 13 warrants I mentioned on Saturday have doubled already this week and the imcc just keeps chugging along…… I used some of those profits to buy even more Kootenay….. I hope I get my .40+ cuz I’m getting overweighted on it

    • On July 15, 2020 at 4:20 pm,
      Excelsior says:

      Congrats on the gains in the pots Wolfster. I looked at those you mentioned but didn’t act.

      • On July 15, 2020 at 4:24 pm,
        Excelsior says:

        I saw you also mention Red White & Bloom over at ceo.ca earlier. It still looks reasonable to position in because it hasn’t run so hard as the others.

        • On July 15, 2020 at 6:09 pm,
          Wolfster says:

          Yes it hasn’t run as much but it’s the most riskiest of the three..they haven’t filed their financials yet since going public…..the imcc is still undervalued vs the other Israeli pot stocks. Looking at $3.50 in 12-18 months

  5. On July 15, 2020 at 5:45 pm,
    Ozibatla says:

    Excitement is certainly rife in PMs at the moment. Hence why Ive become a little cautious at present. Talks of gold $2000+ and silver $30 by years end suggests to me that the market has got a little ahead of itself. For what its worth, I think gold hitting $2000 is more likely than silver hitting $30 by the end of the year.

    • On July 15, 2020 at 7:01 pm,
      Matthew says:

      I’d say 2000 gold by year end is infinitely more likely than 30 silver by year end. Still, silver will continue to smoke gold this year.

      Those expecting a double bottom for the dollar right here are probably in for a nasty surprise…
      https://stockcharts.com/h-sc/ui?s=%24USD&p=D&yr=1&mn=9&dy=0&id=p73107917902&a=639428811

      • On July 15, 2020 at 8:03 pm,
        Ozibatla says:

        Agreed Matthew, dollar chart does not look good in my eyes. And yes I also agree that silver should continue to outperform gold for the rest of this year. Unless of course we get a repeat of what happened in March. That is unlikely though.

    • On July 16, 2020 at 7:28 pm,
      Glenfidish says:

      Hi Ozibatla,

      Allow me to introduce myself! Glenfidish… I have been on these boards for quite sometime. I have sincerely expressed my opinions and consistently given what I think is sound advice. It most importantly “ real time” price action in gold which few do I’m her or anywhere! You tell me if I’m a burden I will step back and not post anymore as your remark comes across very protest and deploring! I think I’m more valuable than that since you don’t post much substance.

      The cheap shot about $30 bucks you may swallow some day. If you care give some of your own advice or opinions and we can judge.

      Glen

  6. On July 15, 2020 at 6:57 pm,
    OOTB Jerry says:

    Anybody Know anything about SWAP LINEs ,,,that the Fed is using to lend money to other countries……..According to Katusa, it is going to be important,,,,that if, you are going to invest in miners, in countries that the FED is not lending money , ….Mining companies my be taken over or nationalized…..

    • On July 15, 2020 at 6:57 pm,
      OOTB Jerry says:

      JUST A MEMO…….and HEADS UP………

      • On July 15, 2020 at 7:23 pm,
        OOTB Jerry says:

        The Fed said the swaps, in which the Fed accepts other currencies in exchange for dollars, will for at least the next six months allow the central banks of Australia, Brazil, South Korea, Mexico, Singapore, Sweden, Denmark, Norway and New Zealand to tap up to a combined total of $450 billion, money to ensure the world’s dollar-dependent financial system continues to function.

        Those countries were given swap lines during the 2007 to 2009 crisis, and the Fed has permanent swap arrangements with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.

    • On July 15, 2020 at 9:22 pm,
      Excelsior says:

      OOTB – yep saw that from Katsua about a month or two back regarding fed swap lines and jurisdiction risk. While there may be some consideration there from rogue nations, and a few may nationalize mines in central Africa or Indonesia or maybe Latin America, most countries should have learned not to do that as they get taxes, GDP, jobs, roads, power infrastructure, etc by having foreign investments from mining companies.

      The topic circulated over at ceo for a few weeks and most concluded it wasn’t as big of concern as it was hyped to be to sell newsletter subscriptions.

      • On July 16, 2020 at 3:57 am,
        OOTB Jerry says:

        I do not listen to Katsua…..so, I guess I am behind the curve.. : ) ….thanks for the reply..

        • On July 16, 2020 at 6:11 am,
          Excelsior says:

          It is an interesting point to consider on the swap lines with the fed, and may help countries like Mexico, Canada, Great Britain, Japan, Switzerland, the EU, Austalia, South Korea, etc… get stabilized if the monetary system further degrades and currency wars escalate. However, Katusa’s main point was that countries outside of these countries could all go belly up and seize the mines in each country to nationalize them. I guess it is possible in a few, but I’m not staying out of West African countries, one of the best areas on the planet for Gold mining, just because they don’t have swap lines with the USA. There are plenty of countries in Central and South America I’m invested in, that don’t have swap lines (I believe only Brazil has one). There are Asian nations I’m invested in that again, have no swap lines.

          Most investors felt the same way after mulling things over, and while it is in an interesting point, most of the untapped areas to explorer are in the frontier emerging nations, and while they have more risk, they also can have monster deposits one modern mining methods are used to explore the last real unknown areas.

          • On July 16, 2020 at 6:45 am,
            OOTB Jerry says:

            I think Katusa…also pointed out……..there are no swap lines to govts that do not play along with the usa/fed/dollar ….so, the countries with out the dollar or these swap lines(loans), will be force to nationalize the mines to keep their govt running….with gold.
            Gold will be the last man standing , after the collapse of the fiat dollar bogus Federal Reserve Note…
            We have to be getting close………
            Main point…….if, I am an investor in mining companies…..the less risk the better…..therefore only invest in safer areas……..

          • On July 16, 2020 at 6:47 am,
            OOTB Jerry says:

            I think we are all on the same track……….jmo

          • On July 16, 2020 at 8:21 am,
            Matthew says:

            Jerry, Rick Rule disagrees with Katusa’s concerns and so do I, for what it’s worth.

          • On July 16, 2020 at 2:00 pm,
            OOTB Jerry says:

            Matthew…….Thanks for the reply……

  7. On July 15, 2020 at 8:17 pm,
    David says:

    Looks like Sprott still likes Freegold. News today he has expanded investment to the point needs shareholder vote. May be worth looking into.

  8. On July 15, 2020 at 10:36 pm,
    Excelsior says:

    Silver Price Update + Breakout in Progress

    iGold Advisor – Christopher Aaron – July 15, 2020 #VIDEO #TechnicalAnalysis

    https://youtu.be/8t2HcK3MAJg

  9. On July 16, 2020 at 2:15 am,
    Excelsior says:

    Eric Sprott Talks About A $110 Silver Price

    Arcadia Economics – July 13, 2020 #VIDEO

    “Eric Sprott is one of the most successful investors in the world, so it often can be quite profitable to listen to what he’s saying. And in a recent interview, he talked about why he saw a $110 #silver price as a realistic possibility.”

    “To be clear, he did not say that is guaranteed to happen tomorrow or next month. But I still think you would find his comments rather interesting…”

    https://youtu.be/Fi5d3PycKNY

    • On July 16, 2020 at 3:59 am,
      OOTB Jerry says:

      Very realistic …… $110……just double the last high…..(approx)…..JMO

      • On July 16, 2020 at 6:00 am,
        Excelsior says:

        It is possible, but may take a few more years.

        The rationale used was by someone else Sprott was quoting that pointed out in the last metals cycle Silver went up 10 fold from $5 to $50, so this time it could go up 10 fold from $11 to $110.

        Personally I’ll be thrilled with the action in Silver miners if the underlying metals price just gets into the mid $20’s. 🤑

        …and if Silver can get into the $30’s in 1-2 years then the moves in the miners will be mind-blowing 🤯🤯🤯

        • On July 16, 2020 at 6:29 am,
          OOTB Jerry says:

          I think silver is a no brainer at $30…….once $21 is taken out…..jmo

  10. On July 16, 2020 at 6:19 am,
    Excelsior says:

    (KTN) (KOOYF) Kootenay Reports High Grade Silver Intercepts Including 601 gpt Over 1.23 Meters Within 279 gpt Over 4.08 Meters & 753 gpt Over 0.95 Meters Within 620 gpt Over 2 Meters at Columba Project, Mexico

    by @newswire on 16 Jul 2020

    https://ceo.ca/@newswire/kootenay-reports-high-grade-silver-intercepts-including

  11. On July 16, 2020 at 6:52 am,
    David says:

    They put out US employment data and consumer data this AM in the US if you can believe them. So I guess we have to tolerate the traditional algo dump on the PMs before moving on. In addition to Kootenay, there was a report of some good drill results on Amex. In addition to Sprott buying more Freegold (in process), there was also a report he bought into Silver One for the third time. Moneta Porcupine also had drill results in a joint venture with Kirkland Lake. It seems they would all learn not to put out PRs on days when the US is reporting employment data. Seems there would be a better response when there is no government bogus info being spred.

    • On July 16, 2020 at 7:48 am,
      Excelsior says:

      Yeah, I saw that Moneta Porcupine had good drill results out today, as well as Sprott buying more Freegold Ventures. Sokoman Iron also had good (but not interstellar) drill results yesterday, but just completely tanked on those results as the markets wanted out of this world and good is no longer good enough. I actually thought that was quite an over-reaction as they are still cashed up and drilling deeper holes in August, so I nabbed a starter position today into the carnage at a very low price. I also have been nibbling at HighGold Mining again and started a position in Goldon last week as they both have upcoming drill results in a few weeks. I’ve also been fortifying my Triumph Gold and Precipititate Gold positions for their upcoming exploration work in a month or so. I’ve been considering starting positions in both Kore Mining and Benchmark Metals for their exploration programs but they’ve already run so much at this point.

      • On July 16, 2020 at 8:03 am,
        Excelsior says:

        I also started a tiny position in Goliath Resources because I liked their acquisition of the new claims in Chibougamau-Chapais in the Abitibi greenstone belt of Quebec, but then they announced a financing with Palisades Goldcorp involved today, with the full warrant, so I’m pissed that this was announced after I just got in, and I don’t like how Palisades will sell out of their positions so quickly after the holding period just hanging onto their warrants. Oh well, hopefully their drilling news this season will bring in so many new investors that it can mop up any selling from Palisades when that time comes.

        • On July 16, 2020 at 8:09 am,
          Excelsior says:

          There are some Silver explorers I’m still considering, but honestly they’ve run so hard already, that I want to see a pullback before allocating any more funds to exploration drill plays this season.

          The rest of dry powder is staying dry for a pullback in the Gold Producers and Developers, or for unique opportunities in Base Metals, Uranium, or Lithium stocks.

          • On July 16, 2020 at 8:10 am,
            Excelsior says:

            I’m already up to my eyeballs in Silver stocks anyway, and am most constructive on them, so I’ve just been letting them run higher and believe they have higher to move before pausing.

        • On July 16, 2020 at 8:49 am,
          David says:

          I bought back some Vizsla earlier in the week and probably around 80%. I think the buy back was $1.59. I don’t think I will sell more as there is too much positive talk about silver and I would expect Konnert to keep pumping out good drill info as he was in First Place im the summer stock picking contest. He is in control of his Contest destiny.

          • On July 16, 2020 at 8:56 am,
            Excelsior says:

            Yeah, I almost bought a 2nd tranche yesterday, but was hoping for a continuation of the pullback. I agree that there seems to be too much excitement around the drilling from Vizsla and Silver, so I’ll likely hang onto what I have for now, still looking for dips to buy down the road. They also have raised plenty of money to be drilling for some time, and I like when a company gets 3 drill rigs or more going as they really start making some progress. I’m sure that is why Sprott gave them more money with the idea to expedite the exploration process.

      • On July 16, 2020 at 8:15 am,
        David says:

        Sokoman. I have held it for years and they have had some quality grade over time. I kept hoping that as we enter this bull market they would hit something that would finally get off the ground. When I saw the reaction yesterday, I was one of those that decided it was time to move along. However, I wanted something equivalent to give some other struggling Canadian miner some help. Didn’t know what that was at the moment, so I stuck my Sokoman in Contact Gold as a holding stock as at least Contact has moved some. I have yet to try High Gold but am sitting on my Triumph and Precipitate for some results. I don’t think I have had Goliath in the past, so I will look at it. Anyway…I added to Freegold today and going to see if they can hit big again. I assume they are going back in the same area they did last time. Oh well…sure glad they did away with brokerage fees or I would be probably holding nothing but Comstock.

        • On July 16, 2020 at 8:28 am,
          Excelsior says:

          Yeah, I’ve been watching Sokoman for a long time, but always thought it got over-hyped for what they’ve found thus far, but after seeing the selling carnage the last few trading sessions, I couldn’t help get some today as a contrarian play. They still have deeper drilling slated for next month, and I figure if they hit there, people that left will come flooding back in. I just see Sokoman as a lottery ticket and they’ve hit enough decent grades that there is something real there. Honestly the last drill results were fine, but I guess the market had higher expectations.

          I haven’t looked closely at Contact Gold, but I’ve seen you mention it a few times, and may take a closer look see.

          With Goliath Resources they are such a tiny nano-cap company, and they have gone from loved to hated by the herd, so that got my attention. I noticed GOT hadn’t impressed the drill junkies on their last 2 drill campaigns, but they have now acquired 2 new blocks of claims recently at 2 different properties, so that tells me they’ve cut bait and run on the old properties and are willing to try something new. Sometimes that is the best answer. This financing from Palisades is likely the mula needed to drill these new projects, and while I don’t like having them involved, at least I know to look for their wall of selling at one point, and again, on such a tiny company, it is possible that if they hit on the new projects, the shareprice could really run in a multibagger. It is really risky though as it is true grassroots discovery, and most of those don’t find economic deposits.

          As for HighGold, Triumph, and Precipitate, I’m much more comfortable holding them as they all have some known ounces in the ground and are exploring to expand and follow up on targets near these known resources, so I feel they are more likely to hit paydirt this season, and they at least have the current deposits as a value backstop. Also Precipitate has Barrick as JV partner, and Triumph has Newmont as a strategic investor, and those are good Majors at teammates.

          Ever Upward!

          • On July 16, 2020 at 8:36 am,
            Excelsior says:

            David – It looks like Vizsla is back on the move again now that they announced they have a 3rd drill rig turning. I only have a fraction of the position I had before the epic run last week, and was hoping for more of a pullback to buy more, but it looks like it is off to the races again. I’m interested to see what they put out for hole #8 and the drilling they are doing at the Napoleon vein and this 3rd one along the Cordon del Oro and Animas veins.

          • On July 16, 2020 at 8:56 am,
            David says:

            Vizsla comments in the wrong place above.

          • On July 16, 2020 at 8:57 am,
            Excelsior says:

            I saw them up above and responded. Cheers!

          • On July 16, 2020 at 9:18 am,
            confused says:

            Hi EX,
            I bought a tonne of Golden Goliath Resources Ltd back in the 2011 “fever” and paid a whopping .32 cents per share…..it then proceeded to drop to the .2 or 3 cent mark in 2015…and was then around .6 cents during the March lows of this year. Since then, it has ripped up to .25 cents!! It has been so long! It seems they have shifted their focus from the Sierra Madre to the Golden Triangle in B.C close to Dolly Varden. They also purchased a 10% interest of the DSM Syndicate. I am thinking of selling it at a loss and moving into something else. Although it seems the company has since upped their game, the “psychological taint” remains of my dumb/novice investing mistake. Man this mining game is humbling! I am 50-50 on it and living up to my name worring aboot it

          • On July 16, 2020 at 9:28 am,
            Excelsior says:

            Hi confused, interesting on Golden Goliath. I remember when they were in Mexico instead of the Golden Triangle.

            For clarity I was discussing Goliath Resources (GOT) not Golden Goliath (GNG). It’s confusing with the 2 Goliaths…. Also I hold a nice stake in Treasury Metals and their flagship project is called Goliath. haha! 🙂

      • On July 16, 2020 at 8:19 am,
        Matthew says:

        Now there’s a “lifestyle” company. Moneta Porcupine has gone into hibernation for every bear market for decades only to return when a new crop of younger investors are ready to buy stories. It’s actually 110 years old but I don’t know what it might have accomplished in the first 50-60- years.

        • On July 16, 2020 at 8:33 am,
          Excelsior says:

          Wow. I didn’t realize Moneta Porcupine was that old. Gadzooks!

          They did have some good (but not great) drill results out today. I don’t have a position, but thought they were noteworthy. I guess they haven’t done much with tying together good results into an economic deposit though after decades, so odds are the same will play out on this project.

          (ME) (MPUCF) Moneta Confirms Extensions of Gold Mineralization at New Westaway Discovery with 35.50 M @ 2.96 g/t Gold
          by @newswire on 16 Jul 2020

          https://ceo.ca/@newswire/moneta-confirms-extensions-of-gold-mineralization-at

        • On July 16, 2020 at 8:54 am,
          David says:

          I had some of Moneta a couple of years ago and probably rolled it into something like Metallic at some point. I liked the porcupine name but I don’t think it got out and around the forest that much.
          I saw Brixton at + 10% earlier and figured that was getting Matthews attention.

          • On July 16, 2020 at 9:00 am,
            Excelsior says:

            I’ve been debating adding more to my Metallic position, since you brought it up. Alexco has been doing well, and MMG has been delivering on their exploration work, but I feel like I have a ton of Silver exposure already, including Brixton. For now I’m going to sit on my hands through the end of this week and just hold the hand that I have in all my Gold & Silver stocks.

          • On July 16, 2020 at 9:05 am,
            Excelsior says:

            David – I mentioned this up above in the thread, but have you been noticing the epic moves higher in (REX) Orex the last 2 days. It is shooting up my portfolio in weighting, and I’ve considered trimming it back a bit, but don’t want to truncate the move it could go on too early. In 2016 Orex was one of the top performing Silver stocks and they are JV partners with both Pan American Silver and Fresnillo.

          • On July 16, 2020 at 9:36 am,
            David says:

            Been watching Orex while banging my head against the wall. I think I sold Orex and Orezone when building positions in Vizsla or Freegold or Azimut possibly. Can not remember but it was a thought to add yesterday. I went with adding Freegold today because of seeing Sprott adding to Freegold…again.

          • On July 16, 2020 at 9:36 am,
            Matthew says:

            No buying of Brixton today but I was tempted at 22-22.5 cents.

          • On July 16, 2020 at 9:44 am,
            Excelsior says:

            Oh… Sorry David, I was thinking you were still in Orex and enjoying the ride. Well they are still early days, but these double digit gains back to back have got it stirring again.

            You sold your Orezone…. say it ain’t so!! 🙂 I keep waiting to see if they’ll get acquired by one of the big boys in the not so distant future and believe their economic studies are top-in-class giving them great leverage to rising gold prices.

          • On July 16, 2020 at 11:53 am,
            David says:

            Back in the “O” club. Orex and Orezone back on the books.

          • On July 16, 2020 at 11:55 am,
            David says:

            My Sokoman swap is Maritime.

          • On July 16, 2020 at 1:37 pm,
            Excelsior says:

            Yeah, Maritime is one I wanted to position in, because I was thinking Anaconda may try to merge with them again, now that both have new teams in place and the egos are out of the way. I have had a reasonable sized position in Anaconda that has been doing well, and I figure at one point both companies will have all those assets under one roof. Good reminder though, as I’d still like to have a position in Maritime in case a different larger producer gets them before Anaconda does.

          • On July 17, 2020 at 11:00 am,
            Excelsior says:

            Sokoman is up about 17% today, so quite a nice bounce here.

  12. On July 16, 2020 at 9:04 am,
    David says:

    A couple that are moving quietly along have been Excellon and Impact. They must have been watching Pure Gold’s slow and steady growth. Pure Gold recently been pulling back though. Probably that gold/silver thing.

    • On July 16, 2020 at 9:11 am,
      Excelsior says:

      I’ve been thrilled with the moves in Impact Silver and it is my 2nd largest holding now, but I can’t say I’ve been as impressed with Excellon (yet). It took me doing more homework and watching a few interviews to better understand their takeover of Otis Gold for the Kilgore gold project, and their acquisition of the Silver City project in Germany. Also they have the processing agreement with Hecla at their 4th project Evolución. I was so used to them only having the initial Platosa mine project, that it has taken me a while to digest all these other acquisitions. I’ll likely add more to my Excellon position over time, but want to see some evidence that they are moving each of them along and aren’t getting bogged down with too many initiatives at the same time.

      (EXN) (EXLLF) Excellon Resources Corporate Presentation:

      http://www.excellonresources.com/_resources/presentation/Excellon-Resources-Corporate-Presentation-June-16-2020.pdf

  13. On July 16, 2020 at 9:13 am,
    David says:

    I think holding is probably good as everyday my portfolio is a mixed bag of performance for relatively little reason. About all that is going on with my stuff is Condor, Brixton and Vizsla. Only ones over +5%. Maybe this afternoon, a new group of machines will show up.

  14. On July 16, 2020 at 9:58 am,
    Excelsior says:

    (KRR) Karora (formerly RNX – RNC Minerals) has been on fire since the Sprott/Maverix financing.

    Eric Sprott Significantly Increases Investment in Karora Resources; Subscribes for 26 Million Shares
    by @newswire on 14 Jul 2020

    https://ceo.ca/@newswire/eric-sprott-significantly-increases-investment-in-karora