Precious Metals Insights – What’s driving the market and where the money is coming from
Brien Lundin joins me today to share his thoughts on what factors are driving gold and silver higher. With funds starting to rotate money into gold (mostly) this could be another driver for the ETFs and large cap stocks.
Cory & Brien – good discussion today on the Precious Metals and mining stocks today.
Much appreciated.
Robinhood.Com – A Potential Game Changer For Gold And Silver Investment
Jul. 29, 2020 – Lawrence Williams (LawrieOnGold)
“The rise of no-commission, simple-to-use, brokerage platforms could have an enormous impact on the much more thinly traded precious metals equities.”
“Robinhooders and their ilk may be the principal reason U.S. equities have been performing so well in the face of some of the worst quarterly figures ever.”
“There is evidence that Robinhood investors, and others using the no-commission platforms, are beginning to find their way into precious metals stocks and ETFs.”
“Given the relatively small size of the precious metals equities markets, this could have a huge impact on prices moving forwards.”
(CDE) Coeur Mining Reports Second Quarter 2020 Results
July 30, 2020
> Successful restart of Palmarejo post-suspension
> Prepared to begin construction on upcoming expansion at Rochester
> Strong operating and financial results at Kensington and Wharf
> Aggressive investment in exploration
> Continued execution of hedging program to underpin expected cash flow
> Higher cash position and successful debt reduction initiatives
(GAU) Galiano Gold Reports Q2 2020 Results
July 30, 2020
Record quarterly gold production of 69,026 ounces at an all-in sustaining cost
(“AISC”) of $1,067/oz
• Gold sales of 61,357 ounces at an average realized price of $1,651/oz, generating gold sales proceeds of $101.3 million
• Strong cash flow generation with operating cash flow of $48.8 million, and free cash flow of $22.6 million
• As at June 30, 2020, the JV had cash of $47.8 million (with the RMB revolving credit facility of $30.0 million fully drawn) and an estimated amount of approximately $10.0 million in gold on hand
• Completed exploration drilling programs at Akwasiso and Abore with results
indicating an extension of mineralization of both pits
(SIC) (SICNF) Sokoman Minerals Reports Discovery of High-Grade Boulders at South Pond, Moosehead Gold Project, Newfoundland
30 Jul 2020
“High-grade Eastern Trend-type boulders assay up to 157g/t Au and include enriched silver values up to 36.2 g/t Ag”
https://ceo.ca/@accesswire/sokoman-minerals-reports-discovery-of-high-grade-boulders
coolness . . .
Yes, there are some cool developments popping up all over the place in the mining stocks.
Brien Lundin is right about copper and it looks like it want to go higher very soon:
https://stockcharts.com/h-sc/ui?s=%24COPPER&p=W&yr=4&mn=11&dy=0&id=p31261711372&a=605040134
tough call on Cu seems to me – given econ conditions as we are told it could languish for, say, year or so, but . . . better to be a little early than late with commodities – FCX – a bell-weather of a sort right? – I was checking it at $7/shr a few months ago but did not bite – now up near $14 (story of my life) – but maybe that is due to their gold (fi they still have that)
Big picture, missing that first FCX double really doesn’t mean a thing. It will rise for many years to come.
I wouldn’t worry about econ conditions either since copper (and commodities in general) do well alongside gold and silver due to Fed policies. Copper went about 7x between 2001 and 2011 and then fell almost 60% between 2011 and 2016. It is now joining gold and silver in a bull market of its own. It was the same in the 1970s, ’80s, and ’90s as well, copper tracked gold and silver up and then went chopped around in a range for 20 years.
comforting, M . . . thanks for that
Matthew,
Would copx etf be the way to bet on higher copper price?
Pyrite,
Yes, it would be a great way to bet on higher copper. It holds 28 mostly large copper miners.
https://etfdb.com/etf/COPX/#holdings
It has doubled since the March low but I consider a “buy on dips” especially big dips. It has pulled back about 80 cents so far nut I think it will pull back at least another dollar before heading higher.
https://stockcharts.com/h-sc/ui?s=COPX&p=W&yr=3&mn=9&dy=0&id=p62988460538&a=792025091
Oops, “nut” should be “but”!
I reestablished a position in USAS this week. It had been a long time since I owned it.
https://stockcharts.com/h-sc/ui?s=USAS&p=W&yr=5&mn=0&dy=0&id=p00088936498&a=789370309
Welcome back aboard USAS, Matthew.
Thanks Bonzo.
Garrett Goggin of the Gold stock analyst (John Doody newsletter) deep analysis into silver prices ahead
https://www.youtube.com/watch?v=Z60Azfmx_S0
long SRNE