Brian Leni - Founder of Junior Stock Review – Thu 23 Jul, 2020

Precious Metals – Metals prices moving higher while stocks are seeing some profit taking

Brian Leni joins me today to breakdown the pop in gold vs the slight selloff in silver. Plus the underlying stocks that have been seeing high volume. This could be a sign of profit taking. We also touch on the US Dollar breakdown and how that can be supporting the higher precious metals prices.

Click here to visit Brian’s site and read up on what he’s watching for the sector.

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Comments:
  1. On July 23, 2020 at 12:27 pm,
    Matthew says:

    GDM has been stuffed just below a couple of fork resistances (as of 3:27 ET)
    https://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=5&mn=11&dy=0&id=p51996255925&a=783806384

  2. On July 23, 2020 at 12:39 pm,
    cfs says:

    Interesting new technology:
    https://www.youtube.com/watch?v=ObkX5R4lr5c

  3. On July 23, 2020 at 1:10 pm,
    Excelsior says:

    Still waiting for the official number from stockcharts, but it looks like Gold closed around $1884 on the day, up over $19 to the highest close in many years, and yet, there was a raft of selling in many gold stocks.

    GDX, GDXJ, SIL, SILJ all down about 2-3% today, and a lot of Junior stocks selling off far more than that. It was an odd day out there but I did 5 sells & 6 buys.

    likely just some well-earned profit taking by many investors today, but it is suspect how weak so many miners are as Gold and Silver prices have been hitting new highs this week. I don’t see a frenzy of excitement anywhere and haven’t the last few days.

    Even though it still looks really toppy in the PMs after such a massive move the last few months, I’m trying to remember things can stay overbought for longer, and sometimes the market will just suddenly lunge forward again, as the bull shakes more riders off his back. For that reason, I refortified a few positions I had trimmed earlier in the week as they pulled back down some and I bought about 10-15% lower than I sold.

    Overall it is still really a great close for Gold, but I sure don’t see much celebrating about it from investors. It’s a weird dichotomy.

    • On July 23, 2020 at 1:19 pm,
      Excelsior says:

      As for Silver, it is still up in the $22.70’s which is fantastic. We’ve waited for so many years for Silver to get back up above $22 again, and it is like nobody cares.

      All the Silver producers were down today except Hochschild, Silver Bear, and Fresnillo. That in itself is odd as Hochschild and Fresnillo are almost never the best performers in the silver producers.

      In the Silver Developers and Explorers there were far more down than up, and quite a few basically flat on the day.

      If we backed up the clock to a few months back and postulated where the silver miners were going to run to at just $20 most would have been very bullish, at $21 their mouths would be salivating, and at $22 – 23.50 they would have been drooling. Then the metals finally get here, and nobody is excited. The reaction in the market is quite strange.

      • On July 23, 2020 at 1:24 pm,
        Excelsior says:

        I was mostly focused on the Juniors today (especially ones with active drill campaigns and those awaiting assays back), but I may go poaching for the next few hours for deals in the aftermarket trading of some larger producers just in case there is a catch-up pop tomorrow.

        • On July 23, 2020 at 1:42 pm,
          RICHARD/DOC says:

          Sold my last position in endeavor silver today and then it closed in the red. We’re starting to top in silver here.

          • On July 23, 2020 at 1:44 pm,
            OOTB Jerry says:

            Silver has a long way to go, and a whole lot of overhead resistance……unlike gold, ….JMO

          • On July 23, 2020 at 2:09 pm,
            Excelsior says:

            Doc we’ve been on the same wavelength lately, as I sold the rest of my Endeavour Silver today as well. I’ll confess to feeling naked without it, as it has been in my top 5 Silver positions for the last month and now it’s gone…. 🙁

            I’ll probably buy it back soon if it pulls back another 10-20%.

            I have been really overweight silver miners though with 19, and now I’m down to 18.

            On the bright side, I’m really cashed up in the warchest now, so I’m ready to scalp deals as they present themselves.

          • On July 23, 2020 at 2:14 pm,
            Excelsior says:

            It’s interesting to note that the 10 day average shares traded in EXK is 4.136 Million shares, but today there were 17.765 Million shares traded (over 4 times the average).

            That’s a lot of distribution of shares from sellers to buyers, so there are still many folks coming into their positions as we are exiting. They may end up being the wiser investors, but again, I’m still more than stocked up on silver mining stocks if they want to keep running.

          • On July 23, 2020 at 2:26 pm,
            RICHARD/DOC says:

            Ex, I believe we’ll be able to get back into EXK around the $3.30 level.

          • On July 23, 2020 at 2:30 pm,
            RICHARD/DOC says:

            The uranium stocks held in there today and I like the NXE chart.

          • On July 23, 2020 at 3:55 pm,
            Excelsior says:

            Thanks Doc. I’ll be looking for that level in EXK, or somewhere around that general region.

            Yeah, I was noticing one of the bright spots was in the Uranium stocks today. All of mine were in the green on the day. I’ve been liking the NexGen chart as well.

          • On July 23, 2020 at 4:27 pm,
            bonzo says:

            I know EXK will probably correct, but if I sell I might never buy it back, and then I’ll wish I had not sold it when silver gets to $100.

          • On July 23, 2020 at 7:41 pm,
            Excelsior says:

            bonzo – I’ll probably buy and sell EXK 100 times before Silver gets to $100 (haha!).

            I very well could have shot myself in the foot by selling the entire Endeavour Silver position over the last few days, but I had really beefed it up coming out of the March lows, and into April, had fantastic gains, and again, I have 18 other Silver positions, so if the Silver miners run like crazy tomorrow and next week, then I have plenty of irons in the fire. I felt like it was time to take one of them out of the fire today and move those funds to cash and to Jr Explorers. If it pulls back down enough, I’ll absolutely be buying it back, as I believe EXK has much farther to run in this metals cycle.

            Ever Upward!

    • On July 23, 2020 at 1:48 pm,
      OOTB Jerry says:

      Ex…….did you ever think, that maybe, most do not own GOLD..phyz…..?”””””I sure don’t see much celebrating about it from investors”””””

      • On July 23, 2020 at 1:55 pm,
        Excelsior says:

        OOTB – You’re probably correct about that, although I’m sure there are a lot folks with the digital ETFs for a gold proxy. I was meaning, there sure wasn’t much celebrating from investors regarding their Gold mining stocks as Gold made it to a new high.

        The numbers are in on Stockcharts and it shows a close of $1890. ($33 from the all time high). You’d expect a free-for-all of high fives, and instead it’s dead.

        Gold chart showing another fantastic day:

        http://schrts.co/cCPBRXED

      • On July 24, 2020 at 6:34 am,
        OOTB Jerry says:

        Not a lot of comments…….GOLD $1905……….humm…….

        • On July 24, 2020 at 6:35 am,
          OOTB Jerry says:

          $1900 …….broken……..looking good…….let’s see how it closes……

          • On July 24, 2020 at 6:37 am,
            OOTB Jerry says:

            Friday……..and the WORLD IS IN A MESS………humm…..

          • On July 24, 2020 at 6:41 am,
            OOTB Jerry says:

            Ny…..in total break down……..Big money is leaving……and not coming back for awhile.
            Chicago……..same…….Pervert running the city……Italians are ticked, Italians have been leaving the city over the last few years….

          • On July 24, 2020 at 7:25 am,
            Exploration says:

            My mom used to say “Life’s messy, clean it up…”

          • On July 24, 2020 at 7:26 am,
            Excelsior says:

            My mom used to say “Life’s messy, clean it up…”

          • On July 24, 2020 at 7:50 am,
            OOTB Jerry says:

            Good suggestion………It starts with us………..
            My mom us to say…..”stand up, and do not let the bullies push you around”……

          • On July 24, 2020 at 7:55 am,
            Excelsior says:

            Sage advice. My grandfather had told me the same thing when I was young lad.

          • On July 24, 2020 at 10:19 am,
            David says:

            …and I used to say to my Mom…”I am standing”

          • On July 24, 2020 at 10:53 am,
            OOTB Jerry says:

            Or ,,,,I AM standing……. that is a short joke….. 🙂

          • On July 24, 2020 at 11:15 am,
            Excelsior says:

            Careful now…. you’ll trigger the little people….

            https://youtu.be/6RA3JrqEPRI?t=7

          • On July 24, 2020 at 11:18 am,
            Excelsior says:

            I didn’t realize that trailer wasn’t a trailer. Check this part out.

            https://youtu.be/xmm1BOI_Pss?t=1421

          • On July 24, 2020 at 11:20 am,
            Excelsior says:
          • On July 24, 2020 at 3:16 pm,
            OOTB Jerry says:

            Looks like the Ker Crew……..after drinking the coolaid……LOL

          • On July 24, 2020 at 3:58 pm,
            Excelsior says:

            Haha! Good one OOTB. 🤪🤪🤪

          • On July 24, 2020 at 4:12 pm,
            OOTB Jerry says:

            🙂 Been a good day……$1900…. looking good…. should be interesting Monday…

  4. On July 23, 2020 at 1:41 pm,
    Charles says:

    When Avino was up earlier in the day I sold the rest and bought some Abraplata, Group Ten and the balance in Brixton. I have trimmed some that have run and replaced with others that are just starting out. We’ll see if it works out.

    • On July 23, 2020 at 2:01 pm,
      Excelsior says:

      Good strategy Charles, and I hope it works out for you man. Those all have upcoming exploration results which could move the needle if they continue to hit paydirt.

      I’ve been doing the same by trimming back some of the stocks that have really run bigly (and glad I did as many were selling off harder than expected today), and rotating into some of the Juniors with upcoming catalysts that haven’t moved as much as the market awaits the news updates.

      • On July 23, 2020 at 4:37 pm,
        confused says:

        Matt & EX & Doc,

        I am not sophisticated enough to trade in and out of this impulse move so I am just abiding and doing the “ol turkey” dance for now…at least until a major mini-blow-off top arrives. Now, how long with the so-called 10-30%? pull back last; especially when the majors start to announce their insane profits in a week or so?? I imagine the Robin-hooders will pile in “en force” once earnings blow investors minds, who have, up until now, been on the sidelines riding their Tesla and Fangers up. Any musings or thoughts on this impending situation would be appreciated.

        • On July 23, 2020 at 7:14 pm,
          Matthew says:

          Confused, in my opinion. buy-and-hold investors can/should relax and even still buy dips. MUCH larger gains are coming this year and a significant top is not coming soon.

          I noticed that twice as many Robinhooders own SLV and GLD now than at the March low but that’s still just 20,000 each or a little over 3% of the number holding AAPL. Even better, a lot better, is that SILJ has just 1,400 Robinhood holders.

          • On July 24, 2020 at 10:34 am,
            confused says:

            EX & Matt,
            thank you both for your takes on the current PM situation! Things are really getting going in the PM space, and your informed contributions on this site go far and beyond what little turkey’s such as myself deserve. You too Doc! KER is lucky to have your seasoned insights here in the comments forum!
            “Talk-Turkey” soon,
            Confused

          • On July 24, 2020 at 11:35 am,
            Excelsior says:

            Thanks confused. Come back and “Talk-Turkey” any time!

        • On July 23, 2020 at 7:31 pm,
          Excelsior says:

          Hi confused. My process is a bit different in that I’m more of an active trader, where I do frequently trade into and out of many stocks (mostly just partial positions, while leaving the core position in place). However, at present I’m in a bit of a holding pattern overall to see how things play out from here. Will we correct from here or keep racing higher?

          This has been a really wild week in both Silver and Gold prices, but the miners have not responded well at all to these break out prices and they’ve been under-performing. I’m looking to see if things are finally topping out here, or if the miners are going to finally digest these higher metals prices and blast higher, just when folks may be ready to throw in the towel.

          Since it’s a bit of limbo, I’ve trimmed back some stocks that have really run hard, but added to some that have upcoming news catalysts, and I even went back and fortified a few positions I trimmed earlier in the week buying some back at better prices so I don’t cut myself short if the stocks keep running. Basically, I’m waiting to see which way this trend breaks from here in the PM miners.

          If there is a correction that is starting, signaled by this under-performance in the miners, then it would not be a surprise. I had mentioned about 2 weeks back that the indicators, like BPGDM, RSI, Slow Stochastics, CCI, etc… were getting overbought, and we are way above most moving averages at this point. As has been repeatedly noted, I’m quite aware that these indicators can stay overbought for longer than folks expect, but eventually the overbought conditions will correct in either price or time.

          So, if we are getting the pullback, I don’t expect it to be very deep or long, because there is upcoming Fed Babble, the next stimulus bill “Heroes Act” is pending, interest rates are staying low while real rates are still negative, and the economy looks like it is in way more trouble than one would guess looking at the general stock markets. That is all bullish for the PMs medium to longer term.

          In addition, the US Dollar is at the lower end of it’s trading range at 94.60, so if it breaks even lower, then this will be a nice tailwind for the Precious Metals. However, if it does a U-turn, and starts heading higher, then it may present more of a headwind to the PMs than it has up until this point for the last year or so. So I’ll be watching the US Dollar.

          As you mentioned, when the majors start announcing their earnings in August, then it should be quite good and possibly bring in more generalist investors. There are not many sectors doing so well, as far as their economic margins growing like the gold miners, and as you mentioned, we may get more of a wave of Robinhood investors or new traders that have opened platforms with other companies that swivel their heads over to the mining sector. That should support the miners if they do dip downwards, and could very well send them ratcheting higher.

          As for the timeframe, I’d expect the pullback may be rather short-lived, (maybe a few weeks as Jordan Roy-Byrne postulated yesterday), and then I’d expect the next move higher to ensue. I’m more interested in in price levels than time frames in general, but I”m not expecting months and months of pain or anything like that (yet). I’m just looking for a cool down period to let everything catch up with these moves in the metals and even for them to pull back some and go fill some of the gaps that have been created.

          Since I don’t really want to attempt shorting the miners here, I opted for trimming some of my positions back and moving some funds to cash, rotating some into royalty companies, and rotating some into smaller Juniors with active exploration drill campaigns underway that have an upcoming catalyst. That’s the hedging strategy I’ve used, but I still have plenty of active positions in Gold & Silver producers, developers, and explorer, the vast majority of which are in quite profitable territory.

          If things correct from here, then I’ll be buying the dip, and if they keep racing higher, I’ll just leave in place the positions I have to ride higher, keep my fingers crossed that some of my drill plays hit big, and in a continued run higher, then I’d move some of the cash raised over to Copper, Uranium, and Lithium as I don’t want to chase things higher from here.

          I’m not sure if that was helpful, but that is the strategy I’m using at present.

          • On July 23, 2020 at 8:16 pm,
            OOTB Jerry says:

            Humm…….shorting the miners,… I would never think of shorting here……not with the thought of the arrival of new investors.
            Not saying you are wrong, …just , I would never think at this time….since, we have been waiting 7 yrs. for this MOMENT in TIme….
            But, …I am not a day trader…..(and that is not a negative). Just interesting,

          • On July 23, 2020 at 8:26 pm,
            David says:

            Ex;
            Thanks for that excellent summary. Very intuitive process.

          • On July 23, 2020 at 8:43 pm,
            Excelsior says:

            OOTB – I said “Since I don’t really want to attempt shorting the miners here…”

            emphasis on the word “don’t”

          • On July 23, 2020 at 8:44 pm,
            Excelsior says:

            Thanks David. Just hedging the exposure with cash, royalties, and drill plays that do well regardless of the metals prices.

          • On July 23, 2020 at 8:57 pm,
            OOTB Jerry says:

            Ex……I did catch the word ……don’t……
            my comment, might have sounded negative, but, …It was not meant to be…..
            Just that, even the thought , of shorting , would never have occurred to me….. 🙂

          • On July 23, 2020 at 10:18 pm,
            Excelsior says:

            OOTB – OK I get it now. Yeah, I do some directional trading, where if I expect a sector is ready to correct and a new trend is starting, then I at least consider using one of a number of inverse ETFs that can be used to short a sector, or to hedge a bullish position.

            For example, I’ve shorted the Gold miners and Gold & Silver before, and I’ve shorted Oil, Biotech, the Dow, and Nasdaq in the past. However, that is when I expected a total change in direction.

            In this case, the bull is well established, so I don’t anticipate a directional change in the larger picture, but just a mild correction, so that is what I meant by “Since I don’t really want to attempt shorting the miners here…”. I was considering doing it as a hedge, but feel that’s a bit too extreme and that could go sour pretty quick if the PMs keep rallying. However, I was trying to communicate that I think some other more mild hedges that can be used like just trimming back positions to build up cash, moving some money to more gradually increasing royalty companies, or in putting some money in some of the promising exploration stocks that could still go up on good drill results, even if the metals and miners are correcting.

            For a buy and hold investor, they just basically ride it out and no action is required. They are just different strategies and both have different pros & cons, and different potential opportunity risks or potential ways to decrease risk or increase gains.

          • On July 23, 2020 at 10:28 pm,
            Excelsior says:

            I just reread what I just typed and it wasn’t worded that well, and I could have been more clear on a few areas.

            While one could still use inverse ETFs to short a sector or asset class for a shorter time period or move (like just a few hours, or a day, or to certain price point), for me personally, I don’t like going putting on a short position unless I really think something is going to pullback hard on a solid move down. That is not what I’m expecting for the PMs so for me it is not worth the risk to put on a short position when the PMs keep surging so hard, because if that happened it would be a big loss.

            So since I’m not expecting that aggressive of a move down, I wouldn’t be at ease shorting Gold, Silver, or the miners, and instead was trying to do more mild hedges and diversification.

            I hope this is making sense, and just wanted to clear up that I don’t want to short it here, why I wouldn’t feel comfortable doing it in this case (when I have in the past), and what action I did try to take manage the risk that still exists in a long position in a protracted move.

          • On July 23, 2020 at 10:38 pm,
            Excelsior says:

            OOTB – Also, let me add I did understand what you were saying as well – simply that you wouldn’t think to short the PMs here with everything breaking out and the potential of new investors coming into the sector.

            I guess I’m saying – I agree with that, and it’s why I’m not shoring the metals or the miners (but conversely, I did mull over the idea as a potential hedge and then decided it wasn’t worth the candle).

            However, there will be a point later in this cycle, where larger corrections will be looming, and in those instances I may put on a reasonably sized position in an inverse ETF. We are still a ways away from that though.

          • On July 24, 2020 at 5:00 am,
            OOTB Jerry says:

            DItto Ex……..on the shorting…… 🙂
            And excellent outline……

          • On July 24, 2020 at 6:43 am,
            Excelsior says:

            Thanks OOTB. Yep, today the metals are moving higher so shorting would have slapped my hand, but the money I put into royalties and the smaller drill plays is still participating.

            https://media1.tenor.com/images/c69f043088acef4637ecce5de0e3bed9/tenor.gif?itemid=13257298

          • On July 24, 2020 at 10:33 am,
            confused says:

            EX & Matt,
            thank you both for your takes on the current PM situation! Things are really getting going in the PM space, and your informed contributions on this site go far and beyond what little turkey’s such as myself deserve. You too Doc! KER is lucky to have your seasoned insights here in the comments forum!
            “Talk-Turkey” soon,
            Confused

          • On July 24, 2020 at 11:36 am,
            Excelsior says:

            Thanks confused. Come back and “Talk-Turkey” any time!

        • On July 23, 2020 at 8:42 pm,
          Matthew says:

          The USD just put in its lowest close in 22 months. 93 is coming followed by 88. The entire 2014 hockey stick will be retraced and then some:
          https://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=7&mn=0&dy=0&id=p21917017092&a=653766793

          • On July 23, 2020 at 8:45 pm,
            Excelsior says:

            If the Dollar is going to break lower, then that should be a nice tailwind for the PMs.

          • On July 24, 2020 at 5:04 am,
            OOTB Jerry says:

            Does anyone see…….72……..and if so, ….when do you think…..just wondering…

          • On July 24, 2020 at 3:17 pm,
            OOTB Jerry says:

            I guess no one knows……. 🙂
            Dollar headed to ZERO….. lol

  5. On July 23, 2020 at 2:17 pm,
    Matthew says:

    Dow:gold weakened today right where it should have at the intersection of two big resistance levels. For those who can see a quarterly chart:
    https://stockcharts.com/h-sc/ui?s=%24INDU%3A%24GOLD&p=Q&yr=50&mn=0&dy=0&id=p98652430439&a=728145351

  6. On July 23, 2020 at 2:44 pm,
    Bill says:

    Thx Matt.
    Saw Docs post on EDR….had a big move in a a short time frame.
    Im on the fence about it now or wait it out for the next leg up….Cheers

    • On July 23, 2020 at 2:52 pm,
      RICHARD/DOC says:

      Bill, one the Toronto you might see endeavor back down to about $4.50.

      • On July 23, 2020 at 2:52 pm,
        RICHARD/DOC says:

        one= on.

        • On July 23, 2020 at 3:09 pm,
          Bill says:

          Thx Doc im ok with even 4 buks.
          One day we could see 10-15 and my cost is 2 baloons..

  7. On July 23, 2020 at 2:54 pm,
    Sound Money Advocate says:

    okay so the “fast crowd” got their 5% and they are gone – especially if follow-through drop tomorrow (how is it that we rarely see follow-through advances, but always seem to have to endure a whack whenever the PMs peek their heads above ground – like old whack-the-mole game) – time to buy more of your favorite vehicles (’57 Chevy, ’68 Camaro, Mustang, Lark, whatever you like)

    • On July 23, 2020 at 3:12 pm,
      Bill says:

      SMA..Corrections are welcome. To fast to far = bad news. Thats how bulls end.
      I know nobody in the public buying yet…its all good

  8. On July 23, 2020 at 3:19 pm,
    Sound Money Advocate says:

    thanks Cory and Brian – good insight

  9. On July 23, 2020 at 4:06 pm,
    russell hamilton says:

    the Donald give up on JACKSONVILLE which means he will more likely loose Florida in the Pres race. A one day CONVENTION in Charlotte n c will not thrill voters in N C , as its not going to help the local economy in N C . This means voters in N C will probably vote Biden , and Cal for U S Senate. Lests face it both partys give us boring unpopular candidates [ again } but Biden is sane at least. Vote by mail is a good system, and prevents lines and weather interfereing with our right to vote. If vote by mail was alright for Trump and his kids , it should be good for all of us. Just pray that china doesnt move to invade Tiwan duing this period of weakness . Pray for peace rsh

  10. On July 23, 2020 at 8:06 pm,
    David says:

    Is there the possibility gold is not correlated either positively or negatively with historically fundamental data. In the past they have mirrored the Yen or Yuan or some other data that is under performing so they can spend limited time and effort suppressing by just running algos that track current counter intuitive negative economic factors. Rather than having to be counter dollar or with or against the S&P or whatever, just pick the most consistently negative economic measurement and with algos, run gold with it. Once price direction is triggered, then the hedge fund algos follow automatically. The correlating economic factor can be altered at any point and drive market direction at will leaving the general population unable to beat the house. Just a thought with some apparent reality.

    • On July 23, 2020 at 8:45 pm,
      Sound Money Advocate says:

      “There are no markets anymore, just interventions.”
      – Chris Powell, Secretary/Treasurer, Gold Anti-Trust Action Committee (aka “GATA”)

      The only solution to break this down (as to Au/Ag) is if enough people buy or take delivery on physical to the level where the Futures Casinos can no longer float their paper contracts (that is to say, pursue their adventures in fraudulence).

  11. On July 24, 2020 at 3:23 am,
    Wolfster says:

    My cynical side says sees 07/28 setting up perfectly for the usually shenanigans to happen under the guise of a necessary pullback/correction…… yet the other side( Freuds insanity saying) clings to this hope that this time will be different cuz so many will ask for delivery this time that it will reek havoc with the price to the upside…….at least it’s Friday and I can enjoy one too many beers.

  12. On July 24, 2020 at 4:34 am,
    Wolfster says:

    Almost forgot …….Scorpio Gold actually closed up at .155……should I be giving a wolf wolf shout out????

  13. On July 24, 2020 at 6:56 am,
    Tom says:

    long VIAC

  14. On July 24, 2020 at 7:39 am,
    Wolfster says:
    • On July 24, 2020 at 7:46 am,
      Excelsior says:

      Thanks Wolfster. These podcasts have been my weekly jam. Cheers!

      • On July 24, 2020 at 8:05 am,
        Excelsior says:

        Their comments on the Silver markets have me sitting on the edge of my seat!

        • On July 24, 2020 at 8:19 am,
          Excelsior says:

          I really like the 4 different categories of miners Eric discussed.

          He mentioned (DSV) Discovery Metals several times as his favorite Silver stock for both optionality and resource size (and he would know!!)

          He also plugged (JAG) Jaguar Mining twice for Gold production, (STGO) Steppe Gold, and the promoted that (PGM) Pure Gold Mining and (MAG) MAG Silver

          Next he got into large developer resources in Gold like (SPA) Spanish Mountain Gold, (FVL) Freegold Ventures (TUO) Teuton

          He also got into some drill plays like Blackrock Gold, Kore, Amex, Wallbridge.

          All solid names in the space, but I liked how he ended with the leveraged plays.

          • On July 24, 2020 at 8:20 am,
            Excelsior says:

            That should have said Sprott promoted “that (PGM) Pure Gold Mining and (MAG) MAG Silver (are moving into production in the very near future).”

          • On July 24, 2020 at 9:36 am,
            David says:

            Added Amex Exploration at open.

          • On July 24, 2020 at 9:42 am,
            Excelsior says:

            I’ve been fortifying a number of Gold companies with pending exploration results like Precipitate, Lion One, Sokoman, Goldon, Goliath Resources, HighGold, Northern Shield, Triump Gold, QMX Gold, Azimut (yep finally got in), O3 Mining, and of course adding to a few Silver explorers and developers as well….

          • On July 24, 2020 at 9:56 am,
            Excelsior says:

            To Eric’s point in the interview today with Craig, Jaguar (JAG) has got to be printing money with Gold up in the high $1800s and now pushing $1900.

            I really hope that rumor from Mark at IKN is BS, and that a Chinese consortium is not thinking of taking them over, as I believe Jaguar is just about to start stretching its legs from a production standpoint, and should be very profitable at these metals prices.

          • On July 24, 2020 at 10:25 am,
            David says:

            Never heard of Blue Lagoon. I will go read. I went ahead and added to Newrange as 30 % is a big move and no one commenting.

          • On July 24, 2020 at 10:27 am,
            David says:

            Comment disappeared again, but haven’t heard of Blue Lagoon but will check out. I went ahead and added a few to newrange as there are no comments as to why it has moved.

          • On July 24, 2020 at 10:50 am,
            Excelsior says:

            Hey David I see the comments here. Yeah I hadn’t heard of Blue Lagoon either, but I sometimes check in on ole Jeb Handwerger as he highlights some lesser followed drill plays. He recently was teasing a Silver company about to start drilling in Colorado and I had a few people at ceo.ca ask me in private about it, and then saw @Newton posting in public about it, and mentioned he was clearly talking about the drill campaign that (AUN) (AUNFF) Aurcana was about to start adjacent to their Revenue-Virginius mine in Colorado.

            Then boom, here was the news this week:

            ________________________________________________________

            (AUN) (AUNFF) Aurcana Commences Diamond Drilling Program at the Revenue-Virginius Mine Located in Colorado, USA. Targeting Virginius Vein Extension

            by @nasdaq on 23 Jul 2020

            https://ceo.ca/@nasdaq/aurcana-commences-diamond-drilling-program-at-the-revenue-virginius

  15. On July 24, 2020 at 7:45 am,
    Excelsior says:

    PRECIOUS METALS FIRE WARNING SHOT ACROSS THE BOW – PART II

    July 24, 2020 – The Technical Traders – Chris Vermeulen

    https://www.thetechnicaltraders.com/precious-metals-fire-warning-shot-across-the-bow-part-ii/

  16. On July 24, 2020 at 8:05 am,
    Tom says:

    long CAPR

  17. On July 24, 2020 at 9:15 am,
    Excelsior says:

    Miners Can’t Keep Up With Gold’s Breakneck Rally

    Thu, 07/23/2020 – By Michael Msika, macro commentator at Bloomberg

    “Gold prices have been rising since March, and the rally still has legs as the Covid-19 pandemic, dovish policies, a weaker dollar and potential inflation all bode well for the metal. But while prices are getting close to record highs, miners of the precious metal are still far away from their 2011 highs, which means there could be room for a catch-up rally in the sector.”

    “Gold miners have outperformed during this year’s market rout, and have continued to climb during the recovery. Meanwhile, escalating tensions between the U.S. and China are adding to the case for the haven.”

    “The environment is still looking very good for gold and gold miners,” Amundi Asset Management fund manager Arnaud du Plessis wrote earlier this month, arguing that central banks are staying on full alert as the resurgence of Covid-19 in some parts of the world is creating fears of a second wave.”

    “M&A could be an additional driver for gold miners, as historically such global activity in the sector accelerates when the metal’s price is buoyant, says Bank of America analyst Michael Jalonen. In fact, deals heated up in the second quarter with 12 transactions announced, the highest quarterly total since 2012, with a total transaction value of $2.86 billion, nearly double that in the first quarter,” he says.

    https://www.zerohedge.com/markets/miners-cant-keep-golds-breakneck-rally

  18. On July 24, 2020 at 10:11 am,
    David says:

    Sprott bought into Erdene and what is up with Newrange.

    • On July 24, 2020 at 10:21 am,
      Excelsior says:

      Yeah, there are some big buyers in Newrange Gold today for sure. It’s up 31% out of nowhere.

  19. On July 24, 2020 at 10:15 am,
    Excelsior says:

    David – have you heard of Blue Lagoon Resources?

    Jeb Handwerger pointed it out today and it was a new one to me, but I guess they just initiated drilling on their property today. Looks interesting…

    ___________________________________

    Jeb Handwerger @goldstocktrades 11:28 AM · Jul 24, 2020·Twitter Web App

    “Blue Lagoon $BLLG $BLAGF Phase One drilling starts on Dome Mountain Gold Project outside Smithers. Has indicated gold resource, a Mine Permit in place,infrastructure,many mineralized quartz veins ready for drilling.
    @bluelagoon_res Mine ready to restart and drill!”

    https://twitter.com/goldstocktrades/status/1286699768400486405

    • On July 24, 2020 at 10:54 am,
      Excelsior says:

      David I saw your comment up above. I’d never heard of this company either, but it just looked interesting, the chart has pulled back to a nice spot to start buying, and they are getting ready to commence drilling and already have a mine permit and infrastructure in place. I’ll need to do some more homework on it, but it seems like one of those rare unloved and overlooked stocks, with an active drilling campaign, and only 33 million shares out, that could really move IF they hit with their drill program. I just figured you may already know about it. Cheers!

  20. On July 24, 2020 at 11:19 am,
    David says:

    Blue Lagoon: Looks like they started about a year ago and acquired some historic properties including 15 known veins that haven’t been explored much. Also looks like the have a 43-101 and PEA and a mining permit, so I assume they are using someone else’s data. US price of .53 and diluted shares of 50 mil in their presentation. News showed a 4-1 split and I assume reverse. Many of their samples came from stock piles. I am no expert but if they do some current drilling or just start mining, maybe something there. All that is skim reading with little analytical ability.

    • On July 24, 2020 at 11:40 am,
      Excelsior says:

      Thanks David. Yep, it looks like they did a reverse split to relaunch a company on a prior companies work and expenditure, hence the lower share count. I guess they are drilling, but have a lot of historic data already. Definitely one to keep an eye on. I may throw some funny money at it next week as a lottery ticket on the drilling campaign, and because they have an easier path forward to development and production than most explorers do, by capitalizing on the prior work of other teams.

  21. On July 24, 2020 at 12:11 pm,
    Excelsior says:

    These markets are crazy. I’ve trimmed back a few more positions (also I finally sold out of the last of my Superior Gold position, planning to buy it back cheaper on a pullback), and added to a few positions that have been pulling back (like Impact Silver).

  22. On July 24, 2020 at 1:52 pm,
    David says:

    Added a few to metallic and a few to Newrange. Bought Amex for the second time. That was it for today. Did recover half of yesterday’s losses. Good moves in Discovery, Erdene, Lio, Minaurum, Newrange and Triumph but otherwise mixed bag.

    • On July 24, 2020 at 4:07 pm,
      Excelsior says:

      Yeah it was a mixed bag but I recovered everything I lost yesterday and a whole lot more. Overall it was still a big green day in my portfolio, and the best week trading I’ve ever had, so I’m a happy camper.

      Yeah Discovery had one heck of a move on the Sprott pop, and Lio had a big move with The Hedgeless Horseman, Bob Moriarty, and Vince Stateside promoting it. Triumph also did well as you mention. Yes, I saw that move in Erdene after Sprott moved in and DT mentioned that as well. New range was ripping higher as well, but for reasons unknown. Wild times!

  23. On July 24, 2020 at 8:27 pm,
    David says:

    I finally caught up on some reading and picked up on the pumps. I must be carrying some dead weight stocks somewhere. My recovery always seems a day or two delayed unless there is a difference in US and Canada markets. I never have tracked a comparison of the same companies.

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