Gold remains range bound but what really matters is precious metals vs the stock market
Jordan Roy-Byrne joins me today to comment on the pullback in gold and silver today. Gold remains in this higher range between approximately $1,900 and $2,000 while silver was looking to break recent highs before the pullback today. While the PMs are still in a corrective phase what really matters for the short term is the under-performance compared to the US markets.
Oh yes, and I believe that there is some truth to it mask denier.
Anyone here own ETHOF? Last year I bought it@.20 and rode it down to 5 cents in March, and just sold it@.21, glad to be out in the black. Now they will probably find the motherlode in Nevada or Canada. Now I have some cash to buy a bargain.
Bonzo – I thought of you earlier today when I re-initiated a first tranche tracking position in Novo Resources. The longer term story and developments with ore sorting equipment, trial plants, and multiple land packages have always been interesting, but I never felt any rush to get into position as it was clear the thesis would take some time to play out and get validated. However, recently when they raised capital to announce moving towards production; then that was a cue I’ve been waiting on for years. Anyway, just started my first Novo nibbles again exiting during the metal detector videos surge, and thought about you, Bob M. and the Hedgeless Horseman. Ever Upward!
“started my first Novo nibbles again (since) exiting during the metal detector videos surge”
Ex, glad to hear you are back in Novo. I doubt it will fall much below 2.50
I sold my ETHOF today and think I have enough Novo. Which do you like better: LOMLF or IRVRF?
Thanks bonzo, and it feels good to be back in Novo. I like Lion One better than Irving, although they are much different teams and jurisdictions. I feel better about what they’ve been hitting in Fiji as having found the feeder system, and the odds of Lion One getting into production, than I do about Irving getting into production in Japan. That isn’t taking anything away from the great work Irving has done though or their great grades, just a personal preference as Japan is more an unknown on if they’ll get a mine built and approved there.
Great to have you as a member of the club Ex. I just bought more last Friday.
Thanks Charles, I just got my membership card today and plan on making it big in the club. 🙂
I’ll admit to being nervous they won’t let me back in the club as I’ve forgotten the secret handshake.
Good trade Ex. I rode it to 7 and down. Back then my average in Novo was about .72 and kept thinking it would stop the decline. Not. This time I sold some of Great Bear and most of Silvercrest just because of the Novo experience. Never have had a loss on paper with Novo other the the real loss I had by not taking profits when you did.
Thanks David. Well if it makes you feel better I sold way to early on that move higher in Novo, because I was up 150% and then 200% and felt the reaction was overdone, but neglected to account for “The Madness Of Crowds”. Regardless of leaving money on the table I exited with a nice gain, and many Novo holders bought in after that at much higher levels and have been underwater since, or have had to average down on the long slide down the other side of the parabola.
I’ve been off fighting other mining stock windmills ala Don Quixote, and finally felt it a good position where I was cashed up, had core positions in what I want, and that Novo was pretty much in the same range it had been in for a while and hadn’t taken off too high without me. If it pulls back down some more from here then I’m ready to add more at lower levels, but at least wanted to have a fishing pole in the water with potential of where it could go over this cycle and longer term. You gotta be in it to win it.
This seemed like an area of congestion that may represent a good area of support for an initial tranche, just in case it bounces higher from here on out. If it goes below then I’ll be happy to add more.
5 Year Novo Resources Chart:
I have my original share position back and average about $1.50. I keep telling myself the race is on between Novo, Irving and Lion One and I will shift when a good move comes on. But, I am up in all 3 but nothing dramatic so I guess I just ride all 3 turtles across the finish line.
Yeah, I see both Lion One and Novo as longer term holds, but don’t own Irving. My other Quinton Hennigh stock is Precipitate Gold, so that will be my power trio.
I have followed Quinton into Novo, LOMLF, Irving, Condor Resources, Eloro. TriStar, Precipitate, Eskyf, NULGF, and Cabral. So far he has never let me down. How does he cover so much ground and advise so many companies?
Q.H. is also involved with NewFound Gold and White Rock Minerals, so that is a dozen mining companies he advises in some capacity. Impressive, but yes, possibly dilutive to his time.
Crescat Gets Activist on Gold #4 – Novo Resources (NVO) (NSRPF)
Tavi Costa – Aug 13, 2020 #VIDEO presentation with Quinton Hennigh
Was glad to learn that Novo owns 15 million shares of NFG.V, so for every 11 shares of Novo you own 1 share of NFG.V
+11
Good Novo owns some New Found as I still don’t see an US symbol.
Quinton mentioned their strategic stake in New Found Gold in that interview above with Crescat Capital, but I remember when that news broke and investors were losing their minds asking why Novo was investing in New Found Gold at the time. Now it looks like Q.H. is going to use Novo to keep acquiring global gold assets over time. NVO may really become a juggernaut over time…
I own and hold.
But then I probably have 5 losing companies for everyone that gains 2,000%.
long VUZI
Big banks, it appears, will be setting up their own stock exchange soon.
https://memx.com/testing-onboarding-and-timelines/
But, don’t worry; you ain’t a member and you ain’t in it.
Looks pretty racist, if you ask me, but I only looked at mug-shots.
https://memx.com/about-us/
And Kodiak is halted…….leaky leaky on the drill results????
You called it yesterday with the movement ahead of the news. Granted, the market could have just been anticipating the news, but the large move ahead of the halt is a bit suspicious.
Well if they are good results and push it over $1 I can honestly say I won’t be complaining. 😎
Sure. I’m happy for you, but it is always odd when there is a lot of volume and move higher out of nowhere right before a halt. It does make one wonder about “leaky leaky,” as you mentioned.
I didn’t realize Chris Taylor was behind Kodiak. Very interesting.
I noticed that East Asia Minerals (EAS) is also halted at present, so it will be interesting to see what that news is all about.
SPX TO GOLD/SILVER RATIOS EXPLORED – WHAT TO EXPECT NEXT
September 2, 2020 – The Technical Traders – Chris Vermeulen
– A Phase II rally in metals is just getting ready to start.
– Phase II rallies are very explosive and tend to enter Parabolic trends.
– Gold could rally 250% to 350% over the next several years.
– Silver could rally 550% to 750% over the next several years.
https://www.thetechnicaltraders.com/spx-to-gold-silver-ratios-explored-what-to-expect-next/
So here is another Gold/Copper acquisition for the sector (even though we keep hearing there hasn’t been that much M&A when 2020 has been a very busy year for both mergers and acquisitions).
In this transaction an active producer is acquiring a gold/copper developer because 3 of their 7 assets can feed one of their currently producing mills. Makes sense, and we’ll keep seeing more of these kinds of “near-ology” acquisitions.
_______________________________
Austral Gold and Revelo Announce Signing of Non-Binding Offer Letter for Austral to Acquire Revelo for Shares and Cash
by @newsfile on 2 Sep 2020
“Austral Gold Limited (ASX: AGD) (TSXV: AGLD) and Revelo Resources Corp. (TSXV: RVL) are pleased to announce they have entered into a conditional non-binding letter of intent pursuant to which Austral would purchase all the outstanding shares of Revelo in exchange for shares in Austral and cash.”
https://ceo.ca/@newsfile/revelo-and-austral-gold-announce-signing-of-non-binding
Also the bidding war for Cardinal Resources is continuing, just like we saw a bidding war from 3 companies to take out Guyana Goldfields. If anything the M&A is escalating not reducing in 2020.
______________________________________________________
Nordgold ups offer for Cardinal in takeover battle
Jackson Chen | September 2, 2020
https://www.mining.com/nordgold-ups-offer-for-cardinal-as-takeover-battle-heats-up/
The other thing that is going on is that I have about 20-25% more positions than I had a month ago after some rebalancing. Now I want some of them to move so I can trim back. They are all kind of waffling around. Need this pull back to pull forward so I can quit staring at my screen. The lomger I stare, the more they look alike and I start wanting to move them around.
Ex:
This was supposed to be follow on in the Novo discussion above.
I hear ya David, and I also have increased the number of positions in my portfolio in the last few months, and want to see some of them move, get acquired, or get to a certain milestone to use as a liquidity event, and then I’ll likely reign it in a bit more. I had been meaning to throw some profits from other trades into Novo at one point, and this seemed like a good spot to act on that strategy and at least get some exposure going in it for their long game.
Bridgewater ‘Tweaks’ Risk Parity Model, Moves Into Gold As Bonds Get More Risky
By TheRealHeisenberg – September 2, 2020
Craig Hemke: Fed has Triggered Inflationary Avalanche
Palisade Radio – Sep 3, 2020 #AudioInterview
(SGN) (SRCRF) Scorpio Gold increases Private Placement with a Lead Order from Palisades Goldcorp
by @nasdaq on 2 Sep 2020
“As announced August 31, 2020 Scorpio Gold will now raise C$6 million by the sale of 37,500,000 units at C$0.16 per Unit. Each Unit will consist of one common share of the Company and one Share Purchase Warrant. Each Warrant will entitle the holder thereof to purchase one Share for a period of three years from issuance at an exercise price of $0.24.”
“The proceeds of the private placement will be used primarily for advancing the planned toll-milling operations and exploration on the Company’s Goldwedge mineral property and for general corporate purposes.”
https://ceo.ca/@nasdaq/scorpio-gold-increases-private-placement-with-a-lead
(SGN) (SRCRF) Scorpio Gold Announces Option Agreement with Titan Mining to Earn 80% Interest in the Mineral Ridge Property for US$35M of Expenditures or 100% Interest for US$35M Payment, and Related C$5M Equity Financing
by @accesswire on 31 Aug 2020
Brian Lock, CEO, comments “The Titan agreement provides a direct opportunity to build on the substantial value of the Mineral Ridge Property that was outlined in the 2018 updated feasibility study. Titan has stated their intention to immediately commence a comprehensive drilling campaign that will focus on the down-dip and strike extensions of the existing deposits and systematically test seven other high-priority exploration targets. This will be the first wide-ranging exploration drill program conducted on the nearly 14,000 acre Mineral Ridge Property in the history of Scorpio Gold’s tenure. With Titan advancing Mineral Ridge, Scorpio Gold will have the opportunity to focus on its Goldwedge Property, including advancing its toll milling operations and furthering its exploration programs on the Goldwedge and Keystone-Jumbo deposit areas. The coming months look to be very active and promising for Scorpio Gold.”
https://ceo.ca/@accesswire/scorpio-gold-announces-option-agreement-with-titan
I have mixed feelings about Scorpio giving up Mineral Ridge after finally getting 100% control, but it looks like they want to focus on Goldwedge and let Titan do the work on Mineral Ridge. Mineral Ridge really has needed a more serious and comprehensive exploration focus, but I was hoping that Scorpio would be the one’s to do just that. Instead they are doing more of a prospect generator model where Titan puts up most of the capital, but then they could also own the property outright in the end which chops down Scorpio’s assets from 2 mines & mills down to just 1. Yes, it will be less dilutive, but they are also giving up their flagship property, and will just be doing toll milling and exploration to feed Goldwedge after that, which isn’t as interesting of story. I guess it solves the issue of not having to come up with all the capital for Mineral Ridge, but it is also giving away the farm, as they say.
The good news is that deal between Scorpio Gold and Titan Mining around Mineral Ridge should triple the SGN market cap over time, get them out of the financially strapped malaise they’ve been in for years, and then they’ll still have Goldwedge as a kicker. Maybe after that they can acquire more land or projects in Nevada to compliments Goldwedge, but it is very difficult, expensive, and a permitting hassle to get a mill approved, constructed, and in production, and losing a mill with all that completed is a bit of a bummer, and Titan is getting the better end of the deal because they have the capital to spend exploring and to make the Mineral Ridge project work. Again, I was hoping that was going to be Scorpio, but hats off to Titan Mining for recognizing the untapped value.
Conviction Buy Alert: Titan Mining (TSX:TI)
Small Cap Investor – 14 hours ago
Early this morning, Titan Mining announced that is has signed an option agreement on the Mineral Ridge property in Nevada from Scorpio Gold. Prior to the acquisition, TI was a pure-play zinc production company. However, in recognition of the current bull run in gold prices, it seems the AugustaGroup felt that adding a gold asset would be the best way to create shareholder value. Richard Warke, CEO of Titan Mining, commented on the transaction, “We believe a portfolio of projects that fits this strategy is the best way to grow and translate into building substantial value for our shareholders.”
“The last few times the AugustaGroup put their weight behind a gold deal, it resulted in billions of dollars in shareholder value created. This is a very special situation. Richard Warke and the AugustaGroup of companies are one of the most powerful, successful, and influential groups in the business. They very rarely do new deals. But when they do, they are almost always home runs. Ventana Gold, Arizona Mining, Augusta Resource Corporation, Newcastle Gold. The list goes on and on. ”
https://www.smallcapinvestor.ca/post/conviction-buy-alert-titan-mining-tsx-ti
Titan Mining (TI) was up 22% today on this news of the deal to potentially acquire 100% of Scorpio Gold’s (SGN) Mineral Ridge asset in an earn-in.
Scorpio Gold was down 8.3% on the news, which is odd because they are receiving the funds from Titan, but as mentioned they are giving up their flagship property in the process and there must have been other SGN investors with mixed feelings about this deal.
SGN Scorpio down another 6% today, so the market is not liking this news about them potentially giving up Mineral Ridge to Titan after the earn-in period. It was a big piece of their future for sure, but again, if they get the cash payment of $35 in 2022 from Titan, then it will triple their market cap, and they’ll have Goldwedge for toll milling, and exploring to feed it with their own shallow pits, so it could still be a 3-5 bagger from here.
Gold Is the Most Stable Currency in the Long-Term
Jan Nieuwenhuijs – FX Empire(Sep 03, 2020)
“CPM Group recently released a video showing that gold’s purchasing power declines over time. According to my analysis this is false. Gold’s purchasing power is markedly stable, and outperforms any other currency.”
https://www.fxempire.com/forecasts/article/gold-is-the-most-stable-currency-in-the-long-term-670248
(VZLA) (VIZSF) Vizsla Makes Fourth Discovery, Drilling 3,581 G/t Silver Equiv. Over 1.15 Metres Within 4.5 Metres Of 1,808 G/t Silver Equiv. at Tajitos Vein at Panuco, Mexico
by @newswire on 3 Sep 2020
https://ceo.ca/@newswire/vizsla-makes-fourth-discovery-drilling-3581-gt-silver
Vizsla has really been on a roll here with 4 bonanza grade Silver discoveries in a row.
Make it rain…
Another good one for Vizsla. I saw Decade Resources had some good results in the Golden Triangle which I normally avoid. They have about 225 mil shares fully diluted but just in case they catch on, I picked up a few.
Agreed on Vizsla, the doubters and haters have mostly left the chat rooms as they continue to nail it.
As for Decade Resources I don’t follow it, but went over to check and yes they had high grade grab samples at surface which is encouraging. There isn’t much runway left for Golden Triangle companies to drill for the balance of the year though (1-2 more months) and then they tend to go dormant for the winter months when the deep freeze comes. The only Golden Triangle stocks I hold are Dolly Varden and Brixton, but I may look at a few more in the spring.
(DEC) (DECXF) Decade Resources Reports 2190 g/t Silver and 11.2 g/t Gold in Grab Sampling on Newly Discovered Eagle’s Nest Zone
by @newsfile on 3 Sep 2020
https://ceo.ca/@newsfile/decade-resources-reports-2190-gt-silver-and-112-gt
Oops. I forgot I also hold Goliath Resources (GOT) that is also exploring in the Golden Triangle.
Overall I’m much more of a fan of Quebec and Ontario for Canadian Gold companies, and I like the Yukon for Silver, Gold, and Copper.
(SBB) (SGSVF) Sabina Gold & Silver Continues to Intersect Exceptional High Grade from Drilling at Umwelt Underground
by @nasdaq on 3 Sep 2020
“Assay results from two new drill holes include: hole 20GSE575C which returned 19.89 g/t Au over 32.20m, including 51.50 g/t Au over 8.20m, and hole 20GSE574 which returned 5.88 g/t Au over 20.10m. These strong Umwelt underground results are in addition to the assays from the first three drill holes that included 15.15 g/t Au over 19.40 m (hole 20GSE571), 12.64 g/t Au over 7.70m (hole 20GSE572) and 13.72 g/t Au over 12.00m (hole 20GSE573), see the news release dated August 20, 2020.”
““The assay results from drill hole 20GSE575C rank as one of the best ever encountered on the project in terms of grade and thickness,” said Bruce McLeod, President & CEO. “The intercept results we are now getting in the upper portions of the Umwelt high grade corridor are over twice the grade of the Umwelt underground resource. The tenor and robustness of gold mineralization we are seeing in this area just below the proposed Umwelt pit are very similar to the intercepts from Vault, approximately 600m down plunge. We are very encouraged by these continued exceptional results that, with more drilling, we believe will enable modelling of higher-grade material to be released earlier in the mine life. This adjusted mine sequencing could have a significant positive impact on what is already a tier one Project. ”
https://ceo.ca/@nasdaq/sabina-gold-silver-continues-to-intersect-exceptional
Very well done Sabina team.
(ANX) (ANXGF) Anaconda Mining Intersects 16.79 g/t Gold over 3.0 metres and 9.78 g/t Gold over 5.0 metres at Goldboro, Expands Drill Program to 15,000 metres
by @accesswire on 3 Sep 2020
“This drill program was initiated as we recognized a significant opportunity to optimize the value of the Goldboro Gold Project and directly impact and potentially increase the overall value of the Project and other key economic metrics. The drill results indicate the presence of mineralization and grade where predicted by the geological model, providing the confidence to upgrade these portions of the deposit. Based on the success of the drill results to date, and in response to other near-term opportunities identified by the on-going feasibility study, we have initiated a further 9,500 metres of drilling to bring the drill program to 15,000 metres. The goal of the expanded drill program remains the same – to capitalize on identified opportunities to upgrade significant resources proximal to planned development, but with emphasis on near surface, open pit resources. These drill results and those anticipated in the next couple of months will be incorporated into an updated mineral resource and used for the final mine design for the feasibility study to be released in Q4 of 2020.”
~ Kevin Bullock, President and CEO, Anaconda Mining Inc.
https://ceo.ca/@accesswire/anaconda-mining-intersects-1679-gt-gold-over-30
(WM) (WLBMF) Wallbridge Reports up to 99% Recovery of Gold from Metallurgical Testing in Tabasco and Area 51
by @nasdaq on 3 Sep 2020
“These initial metallurgical results are very positive and achieve a number of important objectives,” stated Marz Kord, President & CEO of Wallbridge Mining Company Limited. “First, they demonstrate that very high gold recoveries can be expected from Tabasco and Area 51 mineralization. Second, they indicate these recoveries can be achieved using time-tested technologies that are readily available. Finally, they confirm the quality and consistency of the Tabasco and Area 51 mineralized package that we saw in the Main Gabbro during the bulk sample in 2018-19.”
https://ceo.ca/@nasdaq/wallbridge-reports-up-to-99-recovery-of-gold-from
(REG) (RGLSF) Regulus Resources Commences Trading on OTCQX in the USA
by @nasdaq on 3 Sep 2020
https://ceo.ca/@nasdaq/regulus-resources-commences-trading-on-otcqx-in-the
Copper Heads for Historic Squeeze With China’s Demand Red-Hot
By Mark Burton and Libby Cherry – September 3, 2020
(ROXG) (ROGFF) Roxgold Continues to Return High Grade Gold Assays From Séguéla including 19.8 GPT Over 12 M & 57.7 GPT Over 4 M
by @businesswire on 3 Sep 2020
“The exploration successes we continue to demonstrate at Séguéla builds our confidence that the Feasibility Study, due for completion early next year, will outline a larger more robust project than what was defined in the Preliminary Economic Assessment,” stated John Dorward, President and Chief Executive Officer. “The continuing high grade results from infill and extension drilling at Ancien further underpin the emerging potential of the deposit to improve the mine plan. With three rigs currently turning, we are confident that further upside will be realized at the existing deposits and the suite of early stage targets which are slated for near-term testing.”
https://ceo.ca/@businesswire/roxgold-continues-to-return-high-grade-gold-assays
(AUG) Auryn Accelerates Purchase of Sombrero Concessions from Alturas
by @accesswire on 3 Sep 2020
A Message from Ivan Bebek, Executive Chairman & Director of Auryn:
“We view Sombrero as a district-scale exploration opportunity and are pleased to exercise the Alturas option agreement with a discount to the final payment.
“Cleaning up our ownership will streamline the process of obtaining the remaining permits needed for drilling, which we anticipate in the first quarter of 2021.
“We are also working toward permitting the Nioc and Good Lucky targets within the Sombrero district to create a pipeline of drill-ready targets that can be advanced consecutively, avoiding further work delays due to permitting. Results from ongoing surface work programs and updates on permitting advancements can be expected in September and October.”
https://ceo.ca/@accesswire/auryn-accelerates-purchase-of-sombrero-concessions
Kodiak giving out partial drill results
https://ceo.ca/@newsfile/kodiak-drills-282-m-of-070-copper-and-049-gt-gold
Another bad day to put out news. I will be glad when they teach algos to read PRs.
Another day of steady walk downs in the miners. I haven’t checked but have we made any record highs in other markets to celebrate all-time massive World-wide debt.
I tend to agree David, and the good news from many companies is being ignored or used as a liquidity event all week long, which signals we are still in the corrective bearish consolidation. If much of this news had been announced in July there would have been double-digit gains.
Mali Lithium to become a Gold Producer by acquiring the Morila Gold Mine in Mali
31 August 2020
“Agreement signed to acquire an 80% interest in Morila from Barrick and AngloGold for an estimated US$22-27 million”
We discussed last week how things are devolving fast in Mali, so this looks more to me like Barrick is trying to divest some of their Mali assets to get the hell out of dodge….
After selling Hummingbird Resources recently, my only Mali exposure is (CVB) Compass Gold and I’m considering liquidating that whenever they finally put out any meaningful exploration news that moves the needle (as they have been lifeless the last few months during rainy season).
Speaking of Compass Gold….. Where has Glenfidish been lately with is daily gold and silver targets? Did he really start a secret newsletter? 🙂
Can we get a Glen Glen…? Can we get a Glen Glen… ?
Maybe he’s staying quiet as he acquires more….there’s been some accumulation going on with Compass recently
Best performers this “second” are West Red Lake, Goldon & Atico. Oh no…I shouldn’t have said anything.
GoldON Receives Geological Compilation and Reports Grab Samples up to 44.9 g/t Au on Pipestone Bay Gold Property, Red Lake
27 Aug 2020
https://ceo.ca/@accesswire/goldon-receives-geological-compilation-and-reports
Another wonderful day to stock up on your favorites……….
Agreed OOTB. Down days and down weeks are great to go shopping while things are on sale. Cheers!
Yep, things are getting a bit more ugly out there in the PM stocks today, and I’m about ready to go out on the Hunt For Red October…. (in September) 🙂
I think it is also a good time to keep a close eye on the General Markets. Might be some weakness in pumped up stocks.
Shopping Results:
Added to: Anaconda, Blackrock and Silver Tiger
I ended up picking up a little more Impact Silver today that I had sold on Monday, and some Grayscale Bitcoin Trust. Mostly I was just window shopping.
I’m unable to connect to 321 gold/energy, is it just me or has something happened?
Maintenance maybe?
This has never happened before.
The powers that be have decided Bob M. knows to much…
…. even though nobody knows anything…. 🙂
to = too
ditto………. I was having problems…….this morning…..
Just tried Bobby’s site……….site is down……..
It’s up.
I hope its not gone.
He does have some info at the bottom of his page, maybe someone doesnt want that info exposed?
Other sites have been shut down for providing info on the U.S. military and or banking etc.
Bobby is to feisty to go missing….. lol
Ground Hog Day…again.
Oh No……….. 🙂
https://www.zerohedge.com/political/people-who-reject-face-masks-more-likely-be-sociopaths-study