David Erfle - Gold Market Commentary – Tue 21 Jul, 2020

Investing in precious metals stocks – Balancing out new exploration plays, advanced exploration plays, and small scale miners

Dave Erfle wraps up the editorials today by discussing what he is looking for when investing in precious metals stocks. Investors have the option of lower market cap explorers through to advanced exploration plays all the way up to more established miners. We try to simplify where the safer bets are vs the more high risk plays.

Click here to visit Dave’s website and find out more about his newsletter.


Comments:
  1. On July 21, 2020 at 4:09 pm,
    OOTB Jerry says:

    Parabolic ….Moon shot on Silver after hours……..never seen that before…..7 pm.

    • On July 21, 2020 at 4:10 pm,
      OOTB Jerry says:

      Is that another dollar after hours….. Look out…

      • On July 21, 2020 at 4:11 pm,
        OOTB Jerry says:

        $1.14…..

        • On July 21, 2020 at 4:18 pm,
          OOTB Jerry says:

          $1.26…..looking good… 🙂

          • On July 21, 2020 at 4:20 pm,
            OOTB Jerry says:

            another 5.6 % after hours………..CRAZY…

          • On July 21, 2020 at 4:22 pm,
            OOTB Jerry says:

            Ok…….it is official…… Silver is a buy….. 🙂
            Safe to come back in the water….. 🙂

          • On July 21, 2020 at 5:49 pm,
            OOTB Jerry says:

            dang….$1.63……….$22.76……..and this is all after hours……lol…..

          • On July 21, 2020 at 5:53 pm,
            OOTB Jerry says:

            Well……..GSR……….80 to 1…….remarkable…., as I speak to myself…. lol…

          • On July 21, 2020 at 6:20 pm,
            cfs says:

            Thank you folks, downunder, for joining europe and America in precious buying.

          • On July 21, 2020 at 6:30 pm,
            OOTB Jerry says:

            Down under , just did not want to be left behind……. lol

    • On July 21, 2020 at 6:13 pm,
      Marty says:

      I’m on cruise control til the end of the month

      • On July 22, 2020 at 7:13 am,
        Excelsior says:

        Marty, keep us posted on when you may lighten up on some positions, and most importantly, if there are any stocks out there in the gold, silver, copper space that you have your eye on. Your comments are always appreciated.

  2. On July 21, 2020 at 5:59 pm,
    Buzz says:

    Time for a banana split?

  3. On July 21, 2020 at 6:02 pm,
    Matthew says:

    Back on the 8th I pointed out the breakouts in silver and the miners and said that silver would be above 20 very soon yet countless people on various sites thought we were in for a “pullback” or a correction. I guess most didn’t understand the significance of those breakouts and that such breakouts mean that price has a new floor!
    http://www.kereport.com/2020/07/08/can-we-still-argue-this-is-just-the-beginning-of-the-gold-stock-bull-market/

    • On July 21, 2020 at 6:16 pm,
      OOTB Jerry says:

      On July 8, 2020 at 1:49 pm,
      OOTB Jerry says:
      Just load up and wait………….two years from today…..you will be very happy…..almost guarantee it…… 🙂

    • On July 21, 2020 at 6:54 pm,
      Glenfidish says:

      Yup! I’ve been just as vocal and continue to say $29-$30 year end if not higher. 21 was smashed and $23-$24 next before this cycle ends and pauses.

      • On July 21, 2020 at 7:14 pm,
        OOTB Jerry says:

        I have said , …..once $21, 22 broke….look out….whole different ball game…..
        Just did not know , what was the hold up…..hummm…

        • On July 21, 2020 at 9:18 pm,
          Glenfidish says:

          Jerry, you sure did buddy :)..

          Cfs thanks for all your post as well! I do read them as I do with everyone’s.

      • On July 22, 2020 at 6:24 am,
        Excelsior says:

        I love how now in hindsight everyone totally saw the 2016 high of $21.23 being eclipsed 2 days after the close of $19.76 on Friday, after just taking out the 2019 high last week, by such a huge margin, and in such a short time frame. This was a far stronger move in 2 days followed by another one today, than anyone was forecasting for this week.

        Many of us were quite bullish on Silver moving higher, and I also posted about half dozen times that I thought Silver was going to move higher once the impulse leg was confirmed and the 2019 high of $19.75 was taken out on a closing basis…. and that is what has played out. It’s silly to claim that anyone saw the next peak at $21.23 would be taken out in just 2 more trading sessions. Gimme a break.

        I mentioned several times that Silver would be heading higher afterward and that what we saw with Silver surging again on Monday was not a surprise, but it remained to be see if there was enough juice to make it up to challenge the $21.23 level on this leg higher. Not one person taking credit here said “oh we’ll clear that tomorrow by about an extra $.40.” This was a far stronger move higher than even any of the Silver bulls were expecting.

        There were plenty of us on the blog the stated they were bullish on Silver continuing to move higher, and plenty of KER commentators that came on like David Erfle, Brien Lunding, Jordan Roy-Bryne, Sean Brodrick, and John Rubino that all felt Silver was going to head higher. Most of them mentioned the key level of eventually taking out the 2016 high of $21.23, but none of them (including everyone that has commented on this blog, or any other I’ve seen) expected that prior peak to be taken out this soon, on such an explosive move higher in Silver, 2 days after the weekly close of $19.76 on just Friday.

        • On July 22, 2020 at 6:27 am,
          Excelsior says:

          Silver futures are now trading at $22.32 and there was nobody expecting this level would be hit this week when we were just at $19.76 on Friday. We all expected higher prices, but this is clearly an epic Silver short squeeze and is surpassed the 2016 high with no issue, no back test, and hasn’t stopped ratcheting higher all week long.

          It is fantastic and should be celebrated, but nobody was calling for this extreme of a move higher by Wednesday.

          • On July 22, 2020 at 6:29 am,
            Excelsior says:

            Silver Futures chart showing the epic move: (now up even more to $22.43)

            https://www.investing.com/commodities/silver

          • On July 22, 2020 at 6:35 am,
            OOTB Jerry says:

            I sure did not see it……just for the record…… 🙂
            I just notice funny things happening, ….and mention them 🙂

          • On July 22, 2020 at 6:42 am,
            Excelsior says:

            Agreed OOTB. Any honest person would admit that even if they were bullish on Silver, like most of us have been, and even with the strong weekly close last week, nobody was call for this extreme of a move up yesterday or today with Silver now at $22.52 on the futures.

            It’s wild and fun and should just be celebrated that it’s moved so much higher so very quickly.

            Thanks for mentioned the funny things as they happen 🙂

          • On July 22, 2020 at 6:53 am,
            OOTB Jerry says:

            EX,…..you are welcome……

          • On July 22, 2020 at 7:28 am,
            Excelsior says:

            Silver now at $22.64. Wild times!

            https://www.investing.com/commodities/silver

          • On July 22, 2020 at 7:36 am,
            OOTB Jerry says:

            Like I said……….whole new ball game……..
            Daily..high so far…..at $23.26……hummm….

          • On July 22, 2020 at 7:39 am,
            Excelsior says:

            I posted this yesterday, but it’s just as appropriate today:

            As for $Silver today, taking out the 2016 high in just a few days after taking out the 2019 high can’t be understated. “The Force is strong with this one.”

            > There is nothing like a good ole fashioned #ShortSqueeze.

            https://giphy.com/gifs/food-dairy-queen-dq-fWlesbav1qMk8

          • On July 22, 2020 at 7:45 am,
            OOTB Jerry says:

            🙂 good one……squeeze…..

  4. On July 21, 2020 at 6:28 pm,
    OOTB Jerry says:

    Looks like GOLD is taking off, down under…… he,he..

  5. On July 21, 2020 at 6:28 pm,
    cfs says:

    7/28/20 is gold options settlement……should be an interesing day.

    • On July 21, 2020 at 6:57 pm,
      Glenfidish says:

      You to kind jerry 👏👏👍😃..

      $1860 check
      $1881-$1883 the bears will come with all they have.. it’s going to be an explosive morning tomorrow at the open.

      I said gold monthly would look insane!!

      • On July 21, 2020 at 7:10 pm,
        OOTB Jerry says:

        Glen……Good wake up call…… I agree, tomorrow should be interesting…..

        • On August 3, 2020 at 2:21 pm,
          paul says:

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  6. On July 21, 2020 at 6:36 pm,
    OOTB Jerry says:

    Hey Glen………….$1860………..you the man…. 🙂

  7. On July 21, 2020 at 7:00 pm,
    Matthew says:
  8. On July 21, 2020 at 7:18 pm,
    Matthew says:
    • On July 21, 2020 at 7:27 pm,
      Matthew says:
      • On July 21, 2020 at 7:28 pm,
        Matthew says:
      • On July 22, 2020 at 2:56 am,
        Wolfster says:

        And I can’t wait for it to happen.lol….thanks for all the charts. I’m in BBB as well

        • On July 22, 2020 at 6:33 am,
          Excelsior says:

          Wolfster – Kootenay should move well today with this drill news hitting the wires and paired with the rising metals prices.

          ___________________________________________

          (KTN)(KOOYF) Kootenay Intercepts 1,297 gpt Silver & 0.285 gpt Gold Over 3.2 Meters at Copalito Silver-Gold Project, Mexico

          by @newswire on 22 Jul 2020

          https://ceo.ca/@newswire/kootenay-intercepts-1297-gpt-silver-0285-gpt-gold

          • On July 22, 2020 at 7:07 am,
            Excelsior says:

            Wolfster – KTN is now up 13.92% today on this news, and is at $.45 (above your $.40 level of concern). Have an extra helping of oatmeal today sir! haha!

          • On July 22, 2020 at 7:16 am,
            Wolfster says:

            Yes wolfster is happy…. glenfidish would have me howling I bet. 😎

          • On July 22, 2020 at 7:22 am,
            Excelsior says:

            Nice one Wolfster. I think Glen may say, “Can I get a wolf wolf!!”

          • On July 22, 2020 at 9:49 am,
            Glenfidish says:

            Ex,

            I posted a message above. Just to clarify I did not say it think silver would go parabolic in two days like that but truly and sincerely I knew within this cycle 21 would go down and 23-24 a reality..

            Wolf amazing! Really happy for all of us as I wish us all to make a boat load. As ex said can i get a wolf wolf can I get a wolf wolf lol..

            Scorpio is going to run to that .30 zone before cycle ends..
            we have waited patiently of many years for our conviction of this bull. Out time has come jerry and all. Just always understand that corrections are good as well..we need them to continue much higher 🙂

          • On July 22, 2020 at 10:25 am,
            Excelsior says:

            Agreed Glenfidish, neither you nor anyone else stated that they thought Silver would go parabolic in just 2 days after the weekly close above the 2019 high of $19.75, nor that it would take out the 2016 high of $21.23 on Tuesday by $.40, and then add another $1 the next day.

            We were all bullish on Silver, and I repeatedly laid out where the 2 key prior peaks were at $19.75 and $21.23 and have stated repeatedly that after those levels are cleared then the real fireworks will start in miners with Silver moving into the low $20s.

            _____________________________

            I wrote this on Friday:

            >> On July 17, 2020 at 9:47 am,
            Excelsior says:

            “Agreed Ozibatla. There is significant resistance at about $26- $26.50 for Silver, so I’d be surprised to see Silver at $30 by year’s end, but if it really piled on caused a massive short squeeze then it is possible, just not as probable.”

            “Again, targets like that are getting way ahead of themselves, as Silver is still having the daily knife fight with last year’s high of $19.75. It would be technically very bullish to close today on the weekly candle above last year’s high, and earlier it got up to $19.78, and then currently is 2 ticks below it at $19.73.”

            “Let’s see Sllver close above $19.75 today, which sets up the next upside line in the sand – the 2016 surge high of $21.23. Once that level is cleared definitively on a closing basis, then the real fireworks can start, and a move to mid $20’s will be possible.”
            __________________________________________________________________

            I wasn’t in fear as you claimed below, but I did say, it will be interesting to see if Silver has the juice to make it past the $21.23 level on this move. That isn’t fear, and since nobody here is a fortune teller, that was a reasonable position to hold.

            ____________________________________________

            I wrote back to Ozibatla about how bullish this weekly close was for Silver, so I’m not sure how it could have been any clearer about where I stood.

            >>On July 17, 2020 at 1:19 pm,
            Excelsior says:

            “Silver closed exactly at $19.75 today. It would have been nice to see the weekly close at $19.76 or higher, but hell it is still a very bullish move and weekly close.”

            I followed it up to correct & update the message to Ozibatla with this final message, once Matthew pointed out Silver actually settled at $19.76 on the weekly.

            >> On July 17, 2020 at 2:30 pm,
            Excelsior says:

            “Update: Correction, Stockcharts is showing Silver closing at $19.76. It was above it’s 2019 high of $19.75 several times this week, and that’s the highest weekly close in 4 years. Very constructive for Silver.”

            http://schrts.co/jBYFkCxQ

  9. On July 22, 2020 at 3:26 am,
    Sound Money Advocate says:

    Erf always worth a listen – thanks KER

  10. On July 22, 2020 at 6:00 am,
    Buzz says:

    Robin-hooders should be catching wind of PM move right about today

  11. On July 22, 2020 at 6:09 am,
    OOTB Jerry says:

    Interesting thought on the Robin hooders….. just how would they play ….. hummm
    I am thinking, that most robin hooders……are clueless on PMs,….so, how would they play the pms…….just thinking….hummmm.

    • On July 22, 2020 at 6:13 am,
      OOTB Jerry says:

      First thought…….since they have never been in the pm market, which guru are they going to listen…..they certainly do not know any expert in the metals…..should be interesting.
      I think they are going to be prime…….for the “flash crash”……..lol 🙂

      • On July 22, 2020 at 7:19 am,
        OOTB Jerry says:
        • On July 22, 2020 at 7:22 am,
          OOTB Jerry says:

          “I wouldn’t buy anything today. When things are going vertical crazy like that, that’s the time to be taking profits, not buying,” he said. “Younger people, they’re not stupid. They’re smart and they see the opportunity that’s fantastic, but on average, of course by definition, they lack experience, and I think they tend to chase momentum,” he said.

          • On July 22, 2020 at 7:23 am,
            OOTB Jerry says:

            That is from the article…….only point I have….or agree, is……”they lack experience”

  12. On July 22, 2020 at 6:10 am,
    David says:

    Drill results out by Strategic Metals, Goldon, Aston Bay, Urban Gold, GoGold, Thor, Marathon, Quebec Previous Metals, Kootenay…

    • On July 22, 2020 at 6:39 am,
      Excelsior says:

      Posted the Kootenay News higher up for Wolfster, but yes I saw that news out for Goldon about their new discovery. I mentioned recently becoming a shareholder so I’m thrilled with the announcement.

      _____________________________________________________

      GoldON Makes New Gold Discovery at West Madsen within the Key Balmer Stratigraphy that Hosts All Major Deposits in the Red Lake Greenstone Belt

      by @accesswire on 22 Jul 2020

      Chris Taylor, President and CEO of Great Bear said, “GoldON has just crossed a discovery threshold that many junior companies struggle to reach. These results validate our exploration models, which predicted the Balmer Assemblage would be present on the West Madsen property, projecting west from the Madsen mine. The discovery of gold mineralization in multiple drill holes, including high-grade gold, clearly shows the potential of the project. As GoldON shareholders and future royalty holders of the West Madsen project, we are very pleased to see these positive developments and are looking forward to seeing further drill results from West Madsen, and to testing Great Bear’s other regional exploration targets at the Sobel, Dedee and Pakwash properties.”

      https://ceo.ca/@accesswire/goldon-makes-new-gold-discovery-at-west-madsen-within

      • On July 22, 2020 at 7:36 am,
        David says:

        So far, just an add to Kootenay. Waiting to hear what Eric Coffin thinks about Aston Bay drill results. Market not responding as investors hoped for this early drill activity. The interesting thing about Aston is they are in an old mining area of Virginia that has been dormant. Expectations were high.

        • On July 22, 2020 at 7:42 am,
          Excelsior says:

          Interesting. Yes, Eric Coffin is the go to guy on Aston Bay. For some reason I thought they were drilling a project that was really far into the northern territory up by the artic circle, and that the discount they got was for how remote the project was. Isn’t that where BAY was working? I didn’t even realize that they were working in Virginia. Thanks.

        • On July 22, 2020 at 7:51 am,
          David says:

          Also added to Orex as it jumped up and I can’t find anything but a 1 mil financing. Got some anyway.

          • On July 22, 2020 at 8:01 am,
            Excelsior says:

            Yeah, I’ve been liking how Orex has been moving higher lately and the financing being done (and they had that big buy from Robert L. Gipson, c/o Ingalls & Snyder LLC which was another vote of confidence).

            With money in the coffers and partners like Pan American Silver and Fresnillo, I’m sure good ole’ REX will do just fine in this Silver bull.

          • On July 22, 2020 at 8:27 am,
            David says:

            Moved some Freegold and Vizsla profits to my Ely bank. As long as the miners are negative during positive metals prices…

          • On July 22, 2020 at 8:38 am,
            David says:

            Added a few Blackrock in honor of ES.

          • On July 22, 2020 at 8:39 am,
            Excelsior says:

            David – Seems prudent, as there are many miners starting to stall out here in the face of higher metals prices, and it never hurts to squirrel away some outsized profits. If the stocks end up pulling back some those positions can always be added right back again.

  13. On July 22, 2020 at 6:13 am,
    David says:

    Eric Sprott buys $7.5 mil into Blackrock Gold that had the run a couple of days ago. News.

  14. On July 22, 2020 at 7:02 am,
    Excelsior says:

    I’ve noticed my Callinex position coming back to life recently. More good news out from them yesterday that they’ve commenced drilling in Flin Flon. I’m interested to see what they hit there on this exploration program.

    (CNX) (CLLXF) Callinex Commences Drilling to Test Highly Conductive Anomalies in the Flin Flon Mining District of Manitoba

    by @newswire on 21 Jul 2020

    https://ceo.ca/@newswire/callinex-commences-drilling-to-test-highly-conductive

    • On July 22, 2020 at 7:20 am,
      Wolfster says:

      Yeah I noticed that too….. just have my free shares left thi

      • On July 22, 2020 at 7:26 am,
        Excelsior says:

        Zinc is also back close to $1 (up from $.85-$.90 just short time back).

        Clearly the team at Callinex is solid, and I’ve gotten excited in years past only to be let down, but I’m glad they’re getting back out there to drill some highly anticipated targets. I’d like to see them hit paydirt, and if the share-price rises just a bit more then I’ll be back to profitability in it. Honestly I’ve noticed a lot of the Zincsters moving higher lately.

        • On July 22, 2020 at 12:43 pm,
          Excelsior says:

          After Callinex shot up to a 60% gain on the day, I sold my shares, as the move is too extended today, and I’ll buy back at a lower price.

  15. On July 22, 2020 at 7:11 am,
    buzz says:

    MXSG doesn’t seem to be trading

    • On July 22, 2020 at 7:17 am,
      Excelsior says:

      I noticed Mexus moving earlier in the week, but today there was virtually no volume, but I show it up 5.41% to $.0039. I’m surprised with them in production now and with the higher gold prices that they aren’t about 2-3 times higher already. They still have to prove to the market that they can keep producing, increase production, and generate revenues for the company, but overall it actually does look like they finally have turned things around. I’m waiting to see if they can make a second run to $.20 but this time hang onto that valuation with the production as a backstop in value.

      • On July 22, 2020 at 7:20 am,
        Excelsior says:

        Buzz, now you made me go look. (lol) I see in the presser from June 15th, that they paid off their old debt on June 13th with a new loan, and believe they’ll have that paid off in the next 6 months out of production revenues. If they can pull that off and be debt free by the beginning of 2021, that surely they’ll be getting valued higher as they get closer to that goal.

        • On July 22, 2020 at 8:07 am,
          Excelsior says:

          Well, it’s started trading now, but down 2.7%, as gold has moved higher. Who knows?

          • On July 22, 2020 at 6:30 pm,
            Buzz says:

            Nothing but patients for MXSG

          • On July 23, 2020 at 1:11 am,
            Excelsior says:

            Yeah – head patients… (haha!)

  16. On July 22, 2020 at 7:31 am,
    Excelsior says:

    (PGM) (LRTNF) PureGold Red Lake Mine Achieves Permitting Milestone

    by @nasdaq on 22 Jul 2020

    “I am exceptionally proud of the tremendous groundwork our team has completed to establish the foundation of a long-life mining company in Red Lake,” said Darin Labrenz, President and CEO of PureGold. “Since first acquiring the project, we have worked very closely with the First Nations, local communities and regulators to materially advance the project and to transform a brownfields site into a sustainable modern mine. To date, our work has clearly established a robust, scalable mining operation, while concurrently improving the surrounding environment through the progressive removal and reclamation of legacy works. In production, our PureGold Mine is expected to generate over $470 million in direct salaries over the life of the phase 1 mine and will provide significant economic benefits to the local communities and surrounding region through both direct and indirect taxation and expenditures. While proud of our rich Red Lake history, we are truly excited about the future as we establish a new, modern mining complex that will provide meaningful employment and be an economic driver for years to come.”

    https://ceo.ca/@nasdaq/puregold-red-lake-mine-achieves-permitting-milestone

    • On July 22, 2020 at 7:38 am,
      OOTB Jerry says:

      Need to move there and open a Levi store……lol

      • On July 22, 2020 at 7:43 am,
        Excelsior says:

        I just want to sell the picks and shovels… haha! 🙂

        • On July 22, 2020 at 7:47 am,
          OOTB Jerry says:

          You ever see a naked truck driver…..lol

          • On July 22, 2020 at 7:48 am,
            OOTB Jerry says:

            Dont answer that…. 🙂

          • On July 22, 2020 at 7:49 am,
            Excelsior says:

            Good point. I’ll sell picks, shovels, and Levi jeans. 😉

          • On July 22, 2020 at 7:50 am,
            Excelsior says:

            Funny. I already was changing my business plan to clothe the truckers before I saw your response….

          • On July 22, 2020 at 7:54 am,
            OOTB Jerry says:

            🙂

  17. On July 22, 2020 at 7:39 am,
    Tom says:

    long AHPI

  18. On July 22, 2020 at 7:47 am,
    bonzo barzini says:

    Ron Rosen said if silver could close above 21.44 it would climb to 460 minimum, so be careful about taking profits. When silver hits 460 I wonder what HL, AXU, AG, EXK, USAS, SSRM, WPM, and PAAS will sell for? We’ll have to have a pig roast at Big Al’s hacienda.

    • On July 22, 2020 at 7:53 am,
      Excelsior says:

      Good one bonzo barzini. If Silver goes to $460 then I’m buying a private island and disappearing off the radar, but I’d come meet you for the pig roast at Big Al’s hacienda if that were to happen. Here I am being thrilled with Silver at $22 and again I’ve set my sights far too low. (lol).

      • On July 22, 2020 at 8:13 am,
        Excelsior says:

        With a move of $2 in Silver since last Friday, one would think now, with Silver up in the mid $22’s that the miners would be screaming higher, and while their moves are still mostly green on the day, there isn’t much oomph to it.

        SILJ is up less than Silver, and this true in many silver stocks being only slightly above to slightly below where Silver is trading. A very unusual response to such underlying strength in the metal.

        Maybe the miners don’t believe these high prices will stick for Silver and there will be a swift reversal, or maybe they are just slow to digest what these prices will do to the margins of the Producers, or the economics of the developers.

        • On July 22, 2020 at 8:19 am,
          OOTB Jerry says:

          I think , silver, ….Looking at a cup and handle chart..which is similar to gold….. silver still needs to take out some long term over head resistance….for the awareness in mining shares,to take hold….everyone around here is aware,….not so much for the outsiders looking in…….JMO

          • On July 22, 2020 at 8:21 am,
            OOTB Jerry says:

            I am not saying, that accumulation of mining stocks , one should be waiting…..

          • On July 22, 2020 at 8:44 am,
            Excelsior says:

            OOTB – Agreed that the awareness in mining shares needs to grow and attract to money to move them substantially higher than the PM investors already positioned. Having said that I’d still have expected to see more of thrust higher in the Silver stocks today, but we have a number of days running higher prior to this, so maybe buyers are getting exhausted here. We’ll have to see how things progress for the balance of the week, as Silver miners may surprise folks tomorrow with a much larger response. For today I’m just doing some small rebalancing among share weightings as things have been all over the board since last week, and especially the last few days of this week.

          • On July 22, 2020 at 9:27 am,
            OOTB Jerry says:
          • On July 22, 2020 at 9:42 am,
            Excelsior says:

            Thanks for adding to those thoughts with that article. Sprott is liking the silver plays for sure, and that’s a nice looking Impact Silver chart.

          • On July 22, 2020 at 1:01 pm,
            OOTB Jerry says:

            You are welcome…EX……..

        • On July 22, 2020 at 8:20 am,
          David says:

          I vote for it being JPM’s fault…no matter the issue.

          • On July 22, 2020 at 8:44 am,
            Excelsior says:

            Ha! Good one David.

    • On July 22, 2020 at 1:02 pm,
      Sound Money Advocate says:

      no – use beef roast – my guess is that more people are averse to pork than they are to beef – unless they are vegetarian, in which case that’s easy – they can just eat the grass

  19. On July 22, 2020 at 8:09 am,
    cfs says:

    https://www.youtube.com/watch?v=__VQX2Xn7tI

    I can’t wait for 8/26 when COMEX fails to deliver.

  20. On July 22, 2020 at 8:36 am,
    OOTB Jerry says:

    Here is a topic we discussed several months ago……concerning…..”safe areas ” to invest or not to invest….
    Foreigners aren’t buying into South Africa’s gold rally

    Submitted by cpowell on 03:01PM ET Wednesday, July 22, 2020. Section: Daily Dispatches
    By Robert Brand and Adelaide Changole
    Bloomberg News
    Tuesday, July 21, 2020

    Not even a record rally can entice foreign investors to South African gold stocks.

    With gold prices soaring on the heels of monetary stimulus, shares in producers of the metal are back in favor around the world. But investors are fretting about supply disruptions at South Africa’s mines as a result of soaring Covid-19 infections, according to Benguela Global Fund Managers Ltd.

    • On July 22, 2020 at 8:51 am,
      Excelsior says:

      South African gold stocks have also been plagued with BS from labor unions for the last few years, have treated foreigners and foreign investment with malice, and have hinted at nationalizing certain mines as have neighboring countries the last few years… so yeah investors are avoiding South African for gold plays where there are many better options. Who can blame them?

      I feel much better investing in the somewhat risky countries in West Africa like Burkina Faso, Mali, Ghana, Sierra Leon, Ivory Coast, and Senegal because at least for the most part they respect the foreign investment money and improvements to power, water, road infrastructure, school, medicine, and jobs that the mining industry brings to the their communities. There have been nice runs higher in those companies like Roxgold, Teranga, Orezone, West Africa Resources, B2Gold, Sarama, and recently Savary, Cardinal, and Semafo were taken over by larger companies.

      • On July 22, 2020 at 9:10 am,
        OOTB Jerry says:

        Good thoughts………

      • On July 22, 2020 at 10:03 am,
        Wolfster says:

        Being a holder of orezone and Roxgold I will say compared to the equivalent plays in other jurisdictions they are way undervalued so there is some truth to that I think

  21. On July 22, 2020 at 8:45 am,
    cfs says:

    Anybody know anything about Aussie miner White Rock Minerals that made a discovery in Alaska June 25 or thereabouts and tripled in a few days and now falling back ?

    • On July 22, 2020 at 8:58 am,
      Excelsior says:

      It looks like they may be on to something, but all they’ve done so far is the rock chip samples. They are set to start drilling the property before the beginning of August though, so when those results come out that will be proof in the pudding. Most investors that have been jumping in now are trying to get in place before the drills start turning, which isn’t a bad idea.

      ___________________________________________

      (WRM.AX) (WROCF) White Rock Minerals – July 22, 2020

      Exploration Update: Last Chance Gold Target, Alaska

      https://wcsecure.weblink.com.au/pdf/WRM/02257280.pdf

    • On July 22, 2020 at 9:23 am,
      cfs says:

      Thanks, Ex.

      Too early, yet for me.

      • On July 22, 2020 at 9:29 am,
        Excelsior says:

        Yeah, at this point it’s a larger gamble since it hasn’t been drilled, but exploration work at surface has been promising. There is something to speculating on a positive thesis before the discovery has been confirmed (or missed), but I’ve got enough drill plays in my portfolio at this point, and would like to see what they end hitting after the drill to see what they may be onto. We’ll see how things progress.

  22. On July 22, 2020 at 9:03 am,
    cfs says:

    I didn’t say they did not need share consolidation , but after 10 years of doing nothing, they came to life….I wondered if it was something or just death throws

    meanwhile elsewhere….

    .Quebec Precious drills 70.3 m of 1.14 g/t Au at Sakami

    2020-07-22 07:27 ET – News Release

    Mr. Normand Champigny reports

    QUEBEC PRECIOUS METALS DRILLS 1.14 G/T AU OVER 70.3 M AT LA POINTE EXTENSION DISCOVERY

    • On July 22, 2020 at 10:00 am,
      Wolfster says:

      That name is familiar. Wasn’t he part of that Donner Metals which was a fiasco I lost a lot of money on

  23. On July 22, 2020 at 9:05 am,
    cfs says:

    AURANIA REPORTS HIGH-GRADE COPPER-SILVER AT ANOTHER TARGET IN ECUADOR

    Grades of up to 10 per cent copper with 131 grams per tonne (g/t) silver have been found in a breccia in Aurania Resources Ltd.’s Tsenken A target area in its Lost Cities-Cutucu project in southeastern Ecuador. Tsenken A is located approximately two kilometres from the Tsenken N1 target reported on last week (see press release dated July 16, 2020). These latest results provide key information about sedimentary-hosted copper-silver at the Tsenken A target.

  24. On July 22, 2020 at 9:08 am,
    cfs says:

    Brixton with its daly news bulletins….

    Brixton drills 0.97 m of 1,885 g/t Ag at Hog Heaven

    2020-07-21 08:27 ET – News Release

    Mr. Gary Thompson reports

    BRIXTON METALS DRILLS 1,885.00 G/T AG, 4.68 G/T AU, 15.20% CU OVER 0.97M WITHIN 82.00M OF SULPHIDE MINERALIZATION AT ITS HOG HEAVEN PROJECT

  25. On July 22, 2020 at 9:25 am,
    OOTB Jerry says:
    • On July 22, 2020 at 9:28 am,
      OOTB Jerry says:

      Impact chart enclosed…..

      • On July 22, 2020 at 9:31 am,
        Excelsior says:

        OOTB – Thanks for that post on Sprott and with the Impact charts. Much appreciated.

        • On July 22, 2020 at 9:38 am,
          OOTB Jerry says:

          Just trying to return the favor……since I have notice a lot of interest in…..Impact…..

          • On July 22, 2020 at 9:43 am,
            Excelsior says:

            +1 OOTB. That post had a lot of “impact.” 🙂

          • On July 22, 2020 at 12:59 pm,
            OOTB Jerry says:

            🙂

  26. On July 22, 2020 at 9:44 am,
    Glenfidish says:

    I’m sorry ex,

    But in all my conversations regarding gold and silver I was bullish like crazy and kept insisting I’m not trading my short or long positions. I still have not. I don’t know how much more bullish that can be. You mentioned 19 and then 21 and change many times with what i perceived as “ a sense of caution and fear” I for the record never felt that one bit. I called silver target higher Into the year. I’m being 100% sincere and the viewers in here know from my many months of talking the language that 21 would get smashed in this cycle and even was at awww with Gary’s “ wall of worry” and inconclusive determination with sidelines and not sure if he is going in and maybe not. I’ve been 100perdent clear I’m in and I believe Matt was clear as well. But he can speak for himself.

    I’m the first to put myself out there and say $29-$30 will be hit by year end and I have no doubt. If it comes back and bites me that’s fine I stand by my call in real time.

    Hope this clarify.. ps if you disagree let it be I don’t want to ruin this board with who takes the prize. I’m here to share and absorb. I’m all ears as well.

    • On July 22, 2020 at 9:56 am,
      Matthew says:

      Right on, Glen. You’ve been just as bullish privately as publicly and obviously nailed it.

      I bought back some IPT this morning, btw. Average price: 1.055

    • On July 22, 2020 at 10:13 am,
      Excelsior says:

      No, sorry it didn’t clarify things Glenfidish, and if you mischaracterize what I said and you really are “all ears” then let me clarify where your misunderstanding is about what I’ve repeatedly said. Also neither you nor anyone else was calling for the 2016 high to be demolished in one step by over $.40 yesterday or this insanely strong move today despite all your forcasting and adjustments. That is all I was saying when people were patting themselves on the back up above like you were expecting this extreme of a move up this week. Nobody was claiming or stating that last week, but most of us were incredibly bullish coming into this week.

      You just wrote:

      “You mentioned 19 and then 21 and change many times with what i perceived as “ a sense of caution and fear” I for the record never felt that one bit. ”

      That is not a true representation of what I said at all. I stated a half dozen times in the last few weeks that I was very bullish on Silver, much more bullish on Silver and the Silver stocks than Gold or the Gold stocks, and that the first line in the sand was a close (and preferably a weekly close over the 2019 high of $19.75) and I was very specific about that (not just tossing out $30 or $35-$45 for next year which are not nearly as relevant to where silver was or the levels to watch).

      I mentioned clearly in a half dozen posts that if Silver could close above that key $19.75 level on the weekly that it would be very bullish indeed, and it absolutely has been. I mentioned the next key target would be $21.23 (again very specific and done far in advance of it happening — something you keep claiming to be the only one doing, which is also not true.)

      I’m not going to go back to early June or the nearly dozen posts where I put these same thoughts and figures out over and over because I don’t have time, and anyone that has been following anything I’ve been stating about Silver will know that is precisely what I’ve been saying. However here is a post from last Friday in a discussion I was having with Ozibatla (who you snapped at last week for daring to doubt Silver will get to $30 by year end).
      _____________________________________________________________________

      >> On July 17, 2020 at 9:47 am,
      Excelsior says:

      “Agreed Ozibatla. There is significant resistance at about $26- $26.50 for Silver, so I’d be surprised to see Silver at $30 by year’s end, but if it really piled on caused a massive short squeeze then it is possible, just not as probable.”

      “Again, targets like that are getting way ahead of themselves, as Silver is still having the daily knife fight with last year’s high of $19.75. It would be technically very bullish to close today on the weekly candle above last year’s high, and earlier it got up to $19.78, and then currently is 2 ticks below it at $19.73.”

      “Let’s see Sllver close above $19.75 today, which sets up the next upside line in the sand – the 2016 surge high of $21.23. Once that level is cleared definitively on a closing basis, then the real fireworks can start, and a move to mid $20’s will be possible.”

      (So there you go Glenfidish, I’d say that was pretty specific and read that last line again if you are still confused.)

      _____________________________________________

      I wrote back to Ozibatla about how bullish this weekly close was for Silver.

      >>On July 17, 2020 at 1:19 pm,
      Excelsior says:

      “Silver closed exactly at $19.75 today. It would have been nice to see the weekly close at $19.76 or higher, but hell it is still a very bullish move and weekly close.”

      I followed it up to correct & update the message to Ozibatla with this final message, once Matthew pointed out Silver actually settled at $19.76 on the weekly.

      >> On July 17, 2020 at 2:30 pm,
      Excelsior says:

      “Update: Correction, Stockcharts is showing Silver closing at $19.76. It was above it’s 2019 high of $19.75 several times this week, and that’s the highest weekly close in 4 years. Very constructive for Silver.”

      http://schrts.co/jBYFkCxQ

      So Glenfidish does any of that seem unclear or sense of fear? Absolutely not.

  27. On July 22, 2020 at 9:59 am,
    Matthew says:
  28. On July 22, 2020 at 10:04 am,
    cfs says:

    Glenfidish, if you have something to say…..say it. Don’t worry about being scorned or attacked, we’re all adults (I think) on this site, capable of analysis and reasoning.
    Just develop a think skin and ignore criticism that is not backed by reasoning and facts.

  29. On July 22, 2020 at 10:05 am,
    cfs says:

    My slip is showing…

    Think > thick

  30. On July 22, 2020 at 10:08 am,
    cfs says:

    And who ever said high CO2 was bad ?

    CO2 GRO INC. ANNOUNCES A COMMERCIAL FEASIBILITY WITH A LEAFY GREENS GREENHOUSE GROWER IN FLORIDA

    Toronto-based CO2 Gro Inc. has agreed to a CO2 Delivery Solutions commercial feasibility with a leafy greens greenhouse grower in Florida. The feasibility will be conducted on a portion of the greenhouse growing spinach. The customer grows spinach, lettuce and other microgreens in a hydroponic system under 120,000 square feet of greenhouse space.

    CO2 Gro’s CO2 Delivery Solutions VCO2 system will provide aqueous carbon dioxide mist to the leaves of the treatment group with the following objectives: faster growth to harvest, increased biomass growth and protection against the spread of epiphytic micropathogens such as powdery mildew and E. coli. Applying aqueous CO2 mist to the leaves of plants can be done irrespective of the growing media or growing system, whether the plants are grown hydroponically, in the ground, in soil pots or vertically.

    (I have no shares in GROW)

  31. On July 22, 2020 at 10:22 am,
    b says:

    https://jaytaylormedia.com/audio/

    A new Bob interview.

  32. On July 22, 2020 at 10:41 am,
    Glenfidish says:

    Ex,

    I will let the viewers determine who is making Balsy calls and nailing them in “ real terms”.
    I won’t get into further discussions as it takes away from the value we all bring.

    For the record I think you bring value but I’m sure you will through another jab at me.

    • On July 22, 2020 at 11:01 am,
      Excelsior says:

      Glenfidish, I think you bring value as well man, but you keep going after me in your comments and then mistating what I said. That is frustrating to anyone that has their words twisted around.

      As a reminder, you got bent out of shape when you thought I or other users had misquoted you, but now it’s a jab to you if I clarify what I said and reposted the exact passages to clear up any confusion on whether I have been bullish on Silver?

      Look, what I have been writing has been the same thing since early June, and what I wrote on Friday is posted up above clear as day for you or anyone else to read. If you go and reread the comments I posted on Friday or any of the similar messages on prior blogs the message has been consistently bullish.

      > For the record I could care less about anyone making “balsy calls” and I’ve shared the info on what I was looking at technically over and over again in the spirit of sharing the info, helping others know what resistance levels to look for in a bullish confirmation, and because you keep asking me, but then restating back to me what you think I’ve said inaccurately. So I posted the same message to you now over and over again.

      I have been bullish on Silver, celebrated Friday’s weekly close at $19.76 above the 2019 high of $19.75, stated the next line in the sand was $21.23 over and over, and that after that real fireworks would start in the miners when Silver gets up into the low $20s. That was all way in advance. For over a year I’ve stated that when (not if) Silver gets over the 2016 high and north of $22 that all the producers will be making money (even the higher cost ones like Santacruz and Endeavour Silver), and so it’s all been said a million times. I’m not sure where the confusion on your end is coming from.

      Regardless, as I stated I appreciate your thoughts and opinions, and hope to hell that Silver does make it to $30 by the end of this year, as I’m loaded to the gills in Silver stocks. I’ve been bullish on Silver all year, and bought as many Silver stocks as I could from mid-March to April, and have been having the best year every, have the highest account value ever by a landside, and had my 2 best trading days ever on Monday and Tuesday. I’m thrilled with the action in Silver amigo, but still believe there will be some serious overhead resistance to contend with at the $26 – $26.50 level so I’ll be surprised if Silver can make it up to $30 by year end. If it does then great. I could care less if it gets there in 2020 or 2021 because it will get here, and in the meantime there are huge gains being made in the miners, which is all I really care about when tracking the metals prices anyway.

      Ever Upward!

  33. On July 22, 2020 at 10:51 am,
    Glenfidish says:

    For the record I don’t think you or anyone else is not making balsy calls just speaking for myself. Again I really want to stop this back and forth nonsense and really post what we all think is happening and more importantly as I was asked if you see a “ red flag” meaning a turn down mention it and support it.

    Cheers

    Cfs thanks yes we need to have thick skin thanks for the support no worries here. I think most in here are good people and bring so much value with experience alone. The stubborn part of us sometimes brings out the not so nice but that’s what it is.

    Cheers mate

  34. On July 22, 2020 at 11:38 am,
    David says:

    Good the value of physical gold and silver has nothing to do with the value of a mining company. The next thing you know those involved in mine development and producing will want the market to set the price of their goods sold rather than a paper trading Banker. Go figure.

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