Brien Lundin Commentary – Thu 17 Sep, 2020

Junior gold stocks continue to lag but there is a lot of news on tap – Here’s what Brien is watching

Brien Lundin joins me today for a quick comment on the range bound gold price. We then shift focus to the stocks and compare the larger stocks to the juniors, which have been under performing. When it comes to the juniors it’s all about drill results as catalysts and there is a lot of news expected through the end of the year.

Here are the companies that Brien mentioned.

  • New Oroperu – ORO.V
  • Mexican Gold Mining – MEX.V
  • ValOre Metals – VO.V

Click here to learn more about Brien’s Gold Newsletter.

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Comments:
  1. On September 17, 2020 at 12:48 pm,
    Excelsior says:

    Hard Gold Price Correction before Year-end says Don Durrett

    Mining Stock Education – Sept 17, 2020 #AudioInterview

    1:22 Hard gold price correction before year-end
    4:33 If gold breaks out now would you still expect a pullback?
    5:53 Considering catalysts of PFS/FS stage developers before investing
    9:50 Considering timing of upcoming catalysts before investing in a junior
    11:31 Considering the risk of potential third-party lawsuits
    12:43 Speculating on legal outcomes
    14:43 Orion to sell C$50M of its holding in Victoria Gold Corp.
    17:49 Don’s M&A target companies
    21:48 Couple ASX companies Don likes
    22:31 U.S. Presidential election’s effect on the gold price

    https://youtu.be/X7JT0pHBnms

    • On September 17, 2020 at 12:58 pm,
      Excelsior says:

      It’s quite possible that due to the election craziness in November, compounded with the approval of Trillions more money in a new stimulus bill from the government, and with the Fed stoking inflation desires, that Gold actually has another smaller run to make before topping out and having such a hard correction yet. However, if there is a liquidity trap and “sell everything” move in all the markets by year end, that wouldn’t be surprising either. I don’t think it would be a bad as in late Feb through March, but still something to be cognizant of.

      • On September 17, 2020 at 2:12 pm,
        Dick Tracy says:

        Ex, it is one thing when The Federal Reserve allows member banks to borrow money for the purpose of making speculative loans or for the purpose of maintaining speculative loans. What happens when The Federal Reserve is the buyer of vast amounts of securities where they haven’t lent out the money but are holders of said securities within The Federal Reserve. If this is the case we are all in big trouble not just the conventional markets. The federal Reserve will fold along with the banks something which is much worse than the 1930’s. Scary stuff but don’t discount what I am saying. DT

        • On September 17, 2020 at 2:50 pm,
          Excelsior says:

          Agree DT. If the Federal Reserve puts a bunch of toxic and over-inflated assets on it’s balance sheet and the markets implode, it is going to be a big swirling mess that flushes everything down the toilet.

      • On September 17, 2020 at 2:23 pm,
        blazesb says:

        We are in gold and silver stocks denominated in dollars. Dollar(s) may not be safe in such a scenario. So how safe or well are we hedged if our gold/silver stock positions were entered to be a hedge on that dollar?

        Gold/silver stocks were slaughtered with everything else last March. Will they be, or to what degree, slaughtered again in the next liquidity even you describe–that is the question.

        • On September 17, 2020 at 2:41 pm,
          Dick Tracy says:

          If there is a sudden collapse in stock prices there will be a huge pinch in the money supply trying to turn the rout over, the inevitable stop to this downward liquidation will be to raise rates, to stop the madness. But to do so will mean another drop in prices. DT

        • On September 17, 2020 at 2:53 pm,
          Excelsior says:

          The Gold and Silver in the ground will simply go up in dollar terms if the dollar crashes in value, making the margins of such companies (and thus their share prices and leverage) rise in dollar terms. If investors then cash out said investments and then rotate into the physical metals, cryptos, or real estate, then they can take it from there…

          • On September 17, 2020 at 3:24 pm,
            Dick Tracy says:

            All the old markers by which by which the price of common stock can be measured has long since been passed. Inflation is already a serious game but The Reserve authorities want to promote more. The US is a huge debtor nation unlike the 1930’s when the dollar was backed by gold and America was a creditor nation. Price levels were extravagant a year ago and now they are preposterous. The higher they go, the harder they fall.

          • On September 17, 2020 at 3:55 pm,
            OOTB Jerry says:

            Well said DT………….spot on………..JMO

          • On September 17, 2020 at 4:13 pm,
            OOTB Jerry says:

            Good conversation from the both you guys,,,,,,,,,,jmo

          • On September 17, 2020 at 6:59 pm,
            Excelsior says:

            Agreed DT.

            Thanks OOTB.

    • On September 17, 2020 at 2:04 pm,
      Excelsior says:

      Don Durrett @DonDurrett on Twitter:

      “Here is my current list of M&A Targets:”

      (Don provides a very good list of potential M&A targets)

      https://twitter.com/DonDurrett/status/1306028326809550848

  2. On September 17, 2020 at 12:50 pm,
    Excelsior says:

    The Unwinding: Gold, The Credit Cycle, and the Monetary System (w/ Simon Mikhailovich & Dan Oliver)

    Real Vision Finance – Sept 8, 2020

    “History is often overlooked and misunderstood, especially financial history. Dan Oliver of Myrmikan Capital, LLC and Simon Mikhailovich, managing director of The Bullion Reserve, explain the role of gold and the credit cycle through history, comparing today to the credit crises that have occurred roughly every 100 years since the 1720’s – the Mississippi Bubble in France, Europe’s reckoning with a post-Napoleon order in the 1820’s, and the post-World War I calamities of the 1920’s and 1930’s. Using history to set the table for their discussion of gold, central banking, and the credit cycle, Dan and Simon break down how these forces push the monetary system down the dangerous “goat path” towards unwinding. Despite the seemingly dour circumstances, Oliver and Mikhailovich explain why there is still hope for wealth preservation and even incredible returns for those investors who choose not to continue down the “goat path.”

    https://youtu.be/6eYgBr_E3Oo

    • On September 17, 2020 at 12:52 pm,
      Excelsior says:

      Precious Metals Miners Are a Call on Unintended Fed Policy (w/ Rick Rule & Bill Fleckenstein)

      Real Vision Finance – Sept 10, 2020

      “Bill Fleckenstein, president of Fleckenstein Capital, sits down with Rick Rule, president and CEO of Sprott U.S. Holdings Inc., to talk about the macro drivers of the recent precious metals bull market and what to look for when investing in miners. Using their decades of experience in the industry, Rule and Fleckenstein explain why regardless of a specific price target and because precious metals investments as a percentage of the total market for savings and investments is far below the average over the past 50 years, reversion to the mean has precious metals exposed investments poised to march higher. Rule provides his explanation as to why Warren Buffet, who has called gold a pet rock in the past, has recently allocated a portion of Berkshire Hathaway’s portfolio in Barrick Gold Corporation.”

      https://youtu.be/679wDyt8M2M

  3. On September 17, 2020 at 5:33 pm,
    CFS says:
  4. On September 17, 2020 at 5:38 pm,
    Glenfidish says:

    Gold update!

    To all the ker family members and viewers..we are not breaking down here and I’ve been as voice full as much as I can. Gold is getting ready to break higher and it has tested everyone’s patience including Gary’s.. the charts and my eyes continue to see higher levels and no current break down. Get ready for a fifth daily cycle up and higher prices. Few will remain on this wagon. Many have been bucked off long ago..

    As Canuck, wolf, and many others know I will continue to let you know before the fact what’s happening. With Matt’s charts and covid second wave, we are ready to move.

    Matt, myself, Jerry, ex, wolf and dt I believe have been barking the same tune! The drop will come from a higher price. There is no crystal ball but I would be blown away if we head down now to lower prices $1750/1800.. I believe the Pundints al has come in here and Gary and many others will be wrong..

    The move should come tomorrow latest next week..

    As always

    Glen… give me a thumbs up if you want me to continue with updates. I’d say they have been pretty useful this last year. 🙂

    • On September 17, 2020 at 6:31 pm,
      OOTB Jerry says:

      Thumbs UP……..Dang Right we want to here you………….I think You ARE SPOT ON 🙂

      • On September 17, 2020 at 6:32 pm,
        OOTB Jerry says:

        here to hear……….

    • On September 17, 2020 at 6:34 pm,
      Dick Tracy says:

      Glen, in the past The Fed has feared inflation, this time around they are embracing it, for a long time I have seen it everywhere. This is totally nuts but I understand why they are doing it, they are trapped, the wolf is at the door but in the past it has only made fleeting visits and failed to bring hard times. The character of the stocks that are leading the advance are the high tech fliers. They are not wealth producers and solid conservative companies. Their advance is a sign that they are living off what little wealth Uncle Sam has left and leaving the rich much richer and the poor to fend for themselves. DT

      • On September 17, 2020 at 7:09 pm,
        Glenfidish says:

        Well said DT! I agree

    • On September 17, 2020 at 6:54 pm,
      Wolfster says:

      Yes Glen I agree the move is coming soon….I’m always Leary of making any call with quad expiration happening so tomorrow might not be the day ……but maybe this time the volatility of the day will work in our favour

      Wasn’t there supposed to be an update or interview about kodiak??? Thought that’s what was mentioned during last weekends episode

      • On September 17, 2020 at 7:14 pm,
        Glenfidish says:

        Wolf,

        Your right making such calls is risky and credibility can be damaged but I must say I get enjoyment of making great calls and sharing them before hand. That’s what this board is he for and if I score wrong that’s ok because as we all know I have 2 tranches waiting for such fall. Nevertheless one more move higher is what all my x’s and o’s keep telling me with emotion out of it..

        Glen

        • On September 18, 2020 at 7:36 pm,
          Canuckski says:

          Glenfidish, I appreciate that you have noted a number of times that you are prepared with two more traches if the situations arise, and that you have a set of portfolios based upon time horizons (mid-term vs long term), but a while back, both Ex and I were openly expressing our interest in gaining insight from you on which stocks you believe to be part of your ‘long term’ hold strategy. No pressure, but if you care to share one, two or some of them, then I’ll be listening eagerly. Especially, if you ‘d accompany the list with your thoughts on why they make sense for a long term hold. No worries at all and no need to respond with a rationale. All the best.

    • On September 17, 2020 at 7:05 pm,
      Excelsior says:

      Thanks for your update Glenfidish. Yes, I’ve been expecting one more leg higher and a correction from higher levels, and have remained mostly fully invested in the PM miners as a result.

      I posted Don D’s interview up above, where he is expecting a hard pullback by year end because I’m willing to consider anyone’s point of view and rationale behind it, and get a different perspective. With gold, silver, and the miners channeling sideways the last 2 months, then things could break either way, but I’ve bet on the PMs having one more leg higher (the 5th daily cycle you mentioned) before a more meaningful correction.

      We’ll see how it goes amigo. Cheers!

      • On September 17, 2020 at 7:19 pm,
        Glenfidish says:

        Ex,

        Thank you for reaffirming your position and many viewers highly value your input. You are well respected as well as Matt and many others. I will check it out regarding dan d interview.. it’s been quite the busy week for me.

        Cheers my friend 🙂

        • On September 17, 2020 at 8:37 pm,
          Excelsior says:

          Much appreciated Glenfidish, and I sure hope there is another leg higher because I have I over 60 Gold & Silver stocks in my portfolio, and if there is a hard pullback in the near future that would hurt, but I’m constructive that we’ll see another push higher, as I haven’t seen any of the macro drivers (low to zero interest rates, negative real rates, mountains of debt, the central banking desire to inflate their way out of deflationary forces, currency devaluations, a global pandemic, continued business lockdowns and interference, riots, as struggling and uncertain populace, and a contentious election season). It really all is a perfect storm for higher Precious Metals prices, and more generalist investors are finally waking up to that stark reality.

          We’ll see how it goes, but thank you for your input, output, and analysis. Keep on keepin’ on my good man.

          • On September 17, 2020 at 8:51 pm,
            Glenfidish says:

            Great summary Ex!!

    • On September 17, 2020 at 7:35 pm,
      Matthew says:

      That’s been my tune since the correction began: NO intermediate term top (lasting many months).
      It should be no surprise if the miners do well tomorrow and for many weeks thereafter…
      https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=1&dy=0&id=p53777680477&a=815101039

    • On September 18, 2020 at 6:40 am,
      GrowingTrees says:

      Thumbs Up

    • On September 18, 2020 at 8:03 am,
      CEO of nuthin says:

      Thumbs up Glen – I like to see all sides of the topic.
      But I’m going with Anti-Orange Agent Temple for now, and am all in at Gold $1775
      Not that it makes much difference as I only have $500 in my account right now – it’s the thought that counts.

    • On September 18, 2020 at 7:24 pm,
      Canuckski says:

      Dang Glenfidish, when you started your message off with ‘gold update’ and I could see that it was more than a few lines of content, I immediately wanted to go grab some popcorn, then sit back and enjoy the read!
      I’ve been a big fan of your calls, so keep ’em coming!
      Big thumbs up!!!

  5. On September 17, 2020 at 6:57 pm,
    OOTB Jerry says:

    Dang Quad Witching,,,,,,,,forgot about that one, but, no a big deal, to much other stuff happening, over shadowing the Witches ……… 🙂

  6. On September 17, 2020 at 7:04 pm,
    OOTB Jerry says:

    https://www.youtube.com/watch?v=T0ErYSlEHiY
    D, Cambone,,,,,,,,,back on the air,,,,,,,,I guess kitco loss

    • On September 17, 2020 at 7:10 pm,
      Excelsior says:

      Yeah, Kitco mentioned she had taken a new direction (focused on her family and now is anchor for Stansberry Research). I always liked listening to Daniela do interviews as she was good at drawing things out of large personalities and keeping things focused. I wish her all the best in the new role.

      • On September 17, 2020 at 7:15 pm,
        Glenfidish says:

        Thanks jerry 😃

        You know once that move is confirmed your number is my first target.. close eye on it 🙂

        • On September 17, 2020 at 7:17 pm,
          OOTB Jerry says:

          🙂

      • On September 17, 2020 at 7:15 pm,
        OOTB Jerry says:

        Yes, I agree

  7. On September 17, 2020 at 8:30 pm,
    David says:

    Glen and everyone:
    Please continue giving your opinion no matter who you are. I have become untrusting over the last 20 years (since algos) that market tracking can be relied on. I believe that TPTB have destroyed free and fair markets to the point that they have to intervene to keep things going. Since they control the computers that monitor the system, they can control the minute to minute to minute direction of the markets by such procedures as “spoofiing”. which various non-important traders have been convicted…but not sentenced. Also banks like JPM have felony convictions… ut not people. Therefore I have to decide which way do they want PMs to ho in their best interest. Since the debt cannot be repaid, the general markets are in bubbles, the dollar destroyed, interest rates negative and they beed hyper inflation to cover tne debt whether it destroys the country or not…it seems at this point suppressing metals is of little consequence. (Ignoring POTUS wants his Stock market positive for personal reasons). So, I am willing to have everyone give their opinion, as corruption makes nothing certain.
    My two cents.

    • On September 17, 2020 at 8:34 pm,
      David says:

      Typos. Did on phone and screen closes down and can’t go back to proof.

  8. On September 17, 2020 at 8:51 pm,
    Excelsior says:

    Joe Mazumdar talks to Gareth Thomas of (WHN) (WTHVF) Westhaven Gold Corp.

    Metals Investor Forum #MIF – Sep.10, 2020 #VIDEO Interview

    https://youtu.be/MqhgbZWcrDY

  9. On September 17, 2020 at 8:59 pm,
    Glenfidish says:

    Absolutely Matt! You have been a pillar and consistently Backing up all your statements with your impressive charts as one of a kind. As you have been on record here and ex that this wouldn’t be a larger correction that is clear. It is truly a blessing to have you, ex, Jerry and the whole clan in here because I’d be lying that my patience does not get tested. I’m glad you and the rest are always here to keep my guided lol when I almost slip..

    You know it’s coming Matt, so when we do break out if tomorrow or the next day or whenever, I’d like to see what your charts say for possible targets in hui/silver/gold more specifically in regards to what a fifth wave could possibly look like. Same with you ex..

    Cheers to all

    • On September 17, 2020 at 10:02 pm,
      Matthew says:

      Glen, I will keep posting charts but be prepared for that “wall of worry” to cause extra volatility soon as top-callers/bears/doubting bulls sell and sell aggressively too soon. The early part of the coming rise will be seen by many as a second chance to sell at/near the recent highs.

      Remember that a strong and confident urge to sell rarely hits any of us when we really should be selling. It doesn’t matter if the trend is up or down, certainty in the midst of an exciting/stressful move is almost always misplaced. When it really is time to act decisively, our urge will most likely be to do the opposite of what we should. This is the basis of Jesse Livermore’s observation that it is most profitable and most difficult to both be right and sit tight. Almost everyone trades away their positions before the really big moves have been captured.

      Considering the fantastic action since March, so far, I do not expect the coming move to be a truncated one. If anything, I’d bet the opposite is likely. The move could easily be much stronger than even I expect but that is not a prediction. We have stock market darlings like AMZN now rolling over while the metals are strengthening and a lot of people are short the miners so a big short squeeze could develop very soon. Good luck to those shorting the miners further because conventional stocks are falling. Barring another general market panic, that is unlikely to work out for them.

      • On September 18, 2020 at 8:31 am,
        David says:

        Matthew
        Thanks for the great charts and never stop. Very helpful.

      • On September 18, 2020 at 11:11 am,
        Glenfidish says:

        100% Matt!

        Your whole summary is a wealth of advice that anyone and everyone should always keep in mind. Thanks buddy.

        Cheers

    • On September 18, 2020 at 7:15 pm,
      Canuckski says:

      Amen to that Gennie… Matt’s been calling for the move up for a long time. I actually bought SILJ same time as he did. Matt showed the SILJ chart and has often put it back out there for us to see. I have been watching it climb just as he originally stated loud and clearly that it would.

  10. On September 18, 2020 at 11:08 am,
    Glenfidish says:

    David, don’t let the all Algos install fear. The algos are created by people. Keep sight of the overall direction you shall be fine.

    Cheers

    • On September 18, 2020 at 11:10 am,
      Glenfidish says:

      David, thank you as well 🙂

    • On September 18, 2020 at 11:15 am,
      David says:

      Glen:
      Thanks. It is the criminality that bothers me. If the SEC and Justice Departments weren’t neutralized for the last 20-30 years and prosecutions took place, I wouldn’t be as concerned. But, the appointed leadership for years have given Wall Street a blank check to do as they wish. Unfortunately they have proven that they wish to be criminals. Other than that, I don’t see why it is necessary to have markets that are counter intuitive. I have to give all you guys credit that do technical analysis as I would be totally frustrated. Thanks for the comments and I am working my account with the miners. As Ex says, it’s too much fun.