David Erfle - Gold Market Commentary – Tue 22 Sep, 2020

Gold’s correction – Levels to watch, trading strategies, and understanding the investors that just came into the sector

Dave Erfle joins me to share his thoughts on the correction in precious metals. We discuss levels where gold and GDX could drop to as well as how he is trading the juniors. It’s important to understand the types of investors that just entered the sector as gold broke out a couple months ago. They are the weak heads right now that could cause another leg down.

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Comments:
  1. On September 22, 2020 at 10:54 am,
    CFS says:

    I don’t understand “taking Profits”. L prefer to let stocks with profits run with trailing stops, but cut losses quickly.
    But what do I know?

    • On September 22, 2020 at 11:02 am,
      Excelsior says:

      That is because you are a longer term value investor. If you were an active trader there were plenty of opportunities to pull profits on short-term peaks, and then repurchase the same shares a lower prices, which generates more returns, than just buying and holding but involves more risks.

      Both are worthwhile strategies and have different risk/return dynamics and tax ramifications, but I made far more money swing-trading the miners this year, versus if I had just held shares all year long. Different strokes for different folks.

      • On September 22, 2020 at 1:42 pm,
        David says:

        I like trading when markets go up but that doesn’t happen much in the miners.

        • On September 22, 2020 at 2:20 pm,
          Excelsior says:

          I like trading when markets go down or up, and am more active on the way down than the way up. Without the volatility and whipsaw choppy markets it is far more difficult to trade.

          For example, I’ve slowed down my daily trading dramatically over the last 2 months as things channeled sideways, which is not as conducive to trading. Back in March, April, May, June, and July I was trading about 5-10 times or more per day, because there were crazy move higher, and more dramatic pullbacks. Today I only had 2 trades by adding to both Orezone and Gold Resource Corp., and those will be longer term holds, more so than swing trades.

          • On September 22, 2020 at 2:44 pm,
            Excelsior says:

            There are many companies I hope don’t get bought out, but Orezone is one of the companies I do hope it gets acquired for a nice premium. Same thing with Pure Gold, or Sabina, and a few other advanced developers.

          • On September 22, 2020 at 4:06 pm,
            Excelsior says:

            Gold Industry Needs Further Consolidation, Says Barrick’s Bristow

            September 22, 2020 – Mariaan Webb – Creamer Media Deputy Editor

            “The gold industry still has a mismatch of assets in too many managers’ hands and is in need of further consolidation,” says gold major Barrick CEO Mark Bristow.

            “The industry could be better served if we could reallocate some of the assets into the right place, with managements that have proven track records to deliver value,” Bristow said.

            “Wherever we can, we will encourage and where we see opportunities to add to our tier-one portfolio, we will be right there in the front of the queue.”

            https://www.miningweekly.com/article/gold-industry-needs-further-consolidation-says-barricks-bristow-2020-09-22

          • On September 22, 2020 at 4:46 pm,
            OOTB Jerry says:

            Sounds like a commie,,,,,,,,Barrick nut job

          • On September 22, 2020 at 4:50 pm,
            OOTB Jerry says:

            Just give it to Bezo to run and operate,,,,,along with Warren to hype,,,,,,then have
            Walmart,distribute, and put it up on Isle 3,,,,,then ,use self check out,,,, LOL

          • On September 22, 2020 at 4:53 pm,
            Excelsior says:

            Ha! OOTB, you know I normally agree with you and your points, but in this case Mark Bristow is considered one of the better mining CEO’s on the planet, and I agree with his general point that there needs to be more Mergers and Acquisitions in the Gold and Silver miners, as there are too many companies and many assets could and should be rolled up into more competent mining companies.

            That is simply smart capitalism more so than communism.

          • On September 22, 2020 at 5:20 pm,
            OOTB Jerry says:

            No problem……….

          • On September 22, 2020 at 5:35 pm,
            Excelsior says:
          • On September 22, 2020 at 5:38 pm,
            OOTB Jerry says:

            🙂

        • On September 22, 2020 at 4:56 pm,
          Excelsior says:

          Up above I mentioned there were many companies I hope don’t get acquired, but one I expect to and would be OK with getting nabbed since it has already had a long and fantastic run is Pure Gold Mining.

          ____________________________________

          (PGM) (LRTNF) Pure Gold Mining Inc.

          September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

          “Pure Gold is a Canadian focused gold developer. In 2019 the Company released the feasibility study for its flagship project, the Madsen Red Lake Gold Mine, which outlines a 12 year LOM, current probable reserves of one million ounces at 9 g/t Au in 3.5 million tonnes, 800 tonne per day underground mining operation with comparatively low initial capital cost of C$95 million and strong financial performance with an after-tax NPV5% of C$247 million and an after-tax internal rate of return of 36%. In addition, specific exploration targets and satellite resources not considered in the feasibility study suggest an opportunity for near-term growth to potentially further enhance the economics of the project.”

          https://wsw.com/webcast/preciousmetals/pgm.v/?lobby=true&day=1

          • On September 22, 2020 at 5:24 pm,
            Excelsior says:

            Another Gold Developer that is prime takeover target is Orezone. Added more today.
            _________________________________

            (ORE) (ORZCF) Orezone Gold

            September 16, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “The 2019 feasibility study highlights Bomboré as an attractive shovel-ready gold project with forecasted annual gold production of 118,000 ounces over a 13+ year mine life at an All-In Sustaining Cost of US$730/ounce with an after-tax payback period of 2.5 years at an assumed gold price of US$1,300/ounce. Bomboré is underpinned by a mineral resource base in excess of 5 million ounces of gold and possesses significant expansion potential.”

            https://wsw.com/webcast/preciousmetals/ore.to/?lobby=true&day=2

          • On September 22, 2020 at 5:26 pm,
            Excelsior says:

            Triumph Gold is another Gold/Copper Developer I’d expect to see get nabbed this cycle.
            ________________________________

            (TIG) (TIGCF) Triumph Gold Corp.

            September 16, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain Project in Yukon. ”

            https://wsw.com/webcast/preciousmetals/tig.v/?lobby=true&day=2

          • On September 22, 2020 at 5:42 pm,
            Excelsior says:

            Sabina is another takeover candidate, and I’d be fine with it getting acquired as it has also had a nice run the last few years and is low hanging fruit in the development sector.
            _______________________________

            (SBB) (SGSVF) Sabina Gold & Silver Corp.

            September 16, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Sabina Gold & Silver Corp. is a well-financed, emerging precious metals company with district scale, advanced, high grade gold assets in one of the world’s newest, politically stable mining jurisdictions: Nunavut, Canada.Sabina released a Feasibility Study on its 100% owned Back River Gold Project which presents a project that has been designed on a fit-for purpose basis, with the potential to produce ~200,000 ounces a year for ~11 years with a rapid payback of 2.9 years. At a US$1,150 gold price and a 0.80 (US$:C$) exchange rate, the Study delivers a potential after tax internal rate of return of approximately 24.2% with an initial CAPEX of $415 million. The Company has received a Back River Project Certificate and the critical authorizations for construction and operations. In addition to Back River, Sabina also owns a significant silver royalty on Glencore?s Hackett River Project. The silver royalty on Hackett River’s silver production is comprised of 22.5% of the first 190 million ounces produced and 12.5% of all silver produced thereafter.”

            https://wsw.com/webcast/preciousmetals/sbb.to/?lobby=true&day=2

          • On September 22, 2020 at 5:44 pm,
            Excelsior says:

            SF Online – Session 03 – Sabina Gold & Silver Corp. (SBB) (SGSVF)

            Soar Financial – Sept 21, 2020 #VIDEO

            https://youtu.be/I7Gzrswc4nc

          • On September 22, 2020 at 7:17 pm,
            Dick Tracy says:

            Ex, great information, I just wanted to add one name that you first mentioned as being a takeover target and that is GoldON Resources. They share the same gold system that runs through Pure Gold’s property. With Pure Gold’s mine soon to be producing GLD is so close to the mill that any drill hit for them means they should be on everyone’s acquisition list. DT

          • On September 22, 2020 at 10:53 pm,
            Excelsior says:

            Agreed DT. Goldon is right there in the Red Lake action with Pure Gold and Great Bear, but since they are earlier stage, it will take some more drilling before they are a more serious takeover target. I own them and plan on taking them for the ride…

            Some of the other companies listed above and below are more advanced developers or smaller producers that a larger company could bolt on to replace reserves or augment their production profile.

          • On September 22, 2020 at 10:55 pm,
            Excelsior says:

            BTU Metals is also adjacent to Great Bear and in on the Red Lake action as well, and I’m holding them with fingers crossed that they are going to find Great Bear 2.0.

  2. On September 22, 2020 at 2:35 pm,
    David says:

    I was more active when profits were growing. I expanded the number of stocks I held as well as my tax bill. Now I am consolidating and profits dropping (15% decline in acvount value since July).
    Added to Impact, Minera Alamos, Metallic, Northern Vertex, Precipitate and Santacruz today.

    • On September 22, 2020 at 2:41 pm,
      Excelsior says:

      My account value is down about 8% since the peak, but again I attribute limiting the losses to pulling profits and some good swing trading.

      David those are all excellent companies to be growing positions in, and I considered adding to all of those today, but still have nice profitable positions in all of them, so decided just to hold. If the metals and miners keep pulling back then I’ll likely add to those as well.

      • On September 22, 2020 at 3:01 pm,
        David says:

        Some that have gone negative that I am not selling but bolding are Irving, Freegold, Blackrock and Ely. I have added to Freegold on the decline and Ely I churn as a bank. However, most of these are negative as I bought on their way up and sold off the cheaper shares. It think things would go better if the Ced Governors had duct tape under their masks.

        • On September 22, 2020 at 3:03 pm,
          David says:

          Ced = Fed

        • On September 22, 2020 at 3:47 pm,
          Excelsior says:

          Interesting picks to build up. I was in Freegold for a swingtrade, and bought it on the big sell off, but flipped right back out of it again for a 22% gain, and don’t have positions in Blackrock or Ely, but haver reviewed both and know that they are widely followed. I see the cross chatter about them over at ceo.ca all the time.

          I like the royalty companies though and still may add Ely into the fold, after I add EMX. I’m also considering VOX, Elmental, Trident, Riverside, Altius, and Anglo pacific group.

          The last royalty company I added to the mix was Nomad, and it has risen nicely since then. I’ve also traded both Maverix and Metalla a number of times scalping gains, but have kept a core position in them, as well as Golden Valley Mines and Sailfish. I really just wanted a half dozen royalty companies, and was thinking EMX may finish that initiative, but there are so many interesting precious metals and base metals royalties springing up that I may go for 8-9.

          • On September 22, 2020 at 11:01 pm,
            Excelsior says:

            (MMX) Maverix Metals Inc.

            September 17, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Maverix Metals Inc. is an emerging precious metals royalty and streaming company. Maverix offers a mining related investment that provides investors with significant leverage to precious metals prices and exposure to exploration and expansion potential, but without the costs or risks associated with mine operations. Maverix is focused on increasing its underlying per share value by growing its portfolio through high quality precious metals royalty and stream acquisitions that offer robust returns. Since inception in 2016, Maverix has acquired a globally diversified portfolio of over 100 royalties and streams, of which 13 are currently paying. Its strong, cash-generating asset base and experienced team makes Maverix an opportunistic new vehicle to grow with.”

            https://wsw.com/webcast/preciousmetals/mmx.to/?lobby=true&day=3

        • On September 22, 2020 at 4:33 pm,
          Excelsior says:

          David, since you brought up Minera Alamos (one of my favorite development stories the last 2 years), you may enjoy this editorial from Seeking Alpha.

          Minera Alamos: This Little Quirky Mine Builder Is Going To Be A Compounder For Years To Come

          Sep. 22, 2020 – Laurentian Research

          https://seekingalpha.com/article/4375789-minera-alamos-this-little-quirky-mine-builder-is-going-to-be-compounder-for-years-to-come?utm_medium=email&utm_source=seeking_alpha&mail_subject=maiff-minera-alamos-this-little-quirky-mine-builder-is-going-to-be-a-compounder-for-years-to-come&utm_campaign=rta-stock-article&utm_content=link-0

          • On September 22, 2020 at 4:42 pm,
            Excelsior says:

            (MAI) (MAIFF) Minera Alamos Inc.

            September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open pit gold project in Durango with positive PEA completed (permits awaiting issuance) and the Santana open pit heap-leach development project in Sonora with test mining and processing completed with approved EIS. The Company expects to start up construction at Santana in 2019 with the first gold production expected for mid-2020 and advancing La Fortuna in to construction in 2020. We are Proven Builders: – 3 Successful mines put into production in last 12 years – Strong operational expertise in heap leach mining – Ability to expedite projects towards production and minimize initial CAPEX requirements We have Development Stage Assets: – 2 Project Near term production – 3 high-quality, open pit development- stage assets – Significant exploration upside to grow resources and production profile Our execution risks are Minimized: – Cornerstone financial and technical partner ? Osisko Gold Royalties – Pro-mining Mexico ranks among the most favoured mining jurisdictions – Assets located in 3 prolific mining districts.”

            https://wsw.com/webcast/preciousmetals/mai.v/?lobby=true&day=1

          • On September 22, 2020 at 5:05 pm,
            Excelsior says:

            (WM) (WLBMF) Wallbridge Mining Co Ltd.

            September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            https://wsw.com/webcast/preciousmetals/wm.to/?lobby=true&day=1

          • On September 22, 2020 at 5:07 pm,
            Excelsior says:

            (OIII) (OQMGF) O3 Mining Inc.

            September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            O3 Mining Inc., an Osisko Group company, is a mine development and emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Quebec and Ontario – with a goal of becoming a multi-million ounce, high-growth company.”

            “O3 Mining is well-capitalized and holds a 100% interest in several properties in Quebec and Ontario. O3 Mining controls over 61,000 hectares in Val D’Or and over 50 kilometres of strike length along the Cadillac Larder-Lake break. The Company’s projects host resources of 5.9M oz Au in the Val D’Or area, including the Garrison project in Ontario.”

            https://wsw.com/webcast/preciousmetals/oiii.v/?lobby=true&day=1

          • On September 22, 2020 at 5:09 pm,
            Excelsior says:

            (MQR) (MRQRF) Monarch Gold Corporation

            September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Monarch Gold Corporation is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. Monarch currently owns over 315 km² of gold properties, including its flagship Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold, which includes proven and probable reserves of 1.8 million ounces of gold), Beaufor Mine, Croinor Gold, McKenzie Break, Camflo Gold and Swanson project. Monarch also owns 2 fully permitted mills, the Camflo and Beacon mills. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.”

            https://wsw.com/webcast/preciousmetals/mqr.to/?lobby=true&day=1

          • On September 22, 2020 at 5:12 pm,
            Excelsior says:

            (AZM) (AZMTF) Azimut Exploration

            September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Azimut is a mineral exploration company whose core business is centred on target generation and partnership development. The Company uses a pioneering approach to big data analytics (the proprietary AZtechMineTM expert system) enhanced by extensive exploration know-how. Azimut maintains rigorous financial discipline and has 65.7 million shares outstanding.”

            “Azimut holds the largest mineral exploration portfolio in Quebec. The Company’s competitive edge against exploration risk is founded on systematic regional-scale data analysis and multiple concurrently active projects. This includes two regional strategic alliances with SOQUEM for six (6) gold properties.”

            https://wsw.com/webcast/preciousmetals/azm.v/?lobby=true&day=1

          • On September 22, 2020 at 5:14 pm,
            Excelsior says:

            (TML) (TSRMF) Treasury Metals Inc.

            September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Treasury Metals Inc. is a gold focused company with assets in Canada. Treasury’s Goliath Gold Project and Goldlund Gold Project are located in Northwestern Ontario. The projects benefit substantially from excellent access to the Trans-Canada Highway, related power and rail infrastructure, and close proximity to several communities including Dryden, Ontario. With first-rate infrastructure currently in place and Gold mineralization extending to surface, Treasury Metals plans on the initial development of an Open Pit Gold Mine to feed a 2,500 tonne per day processing plant with subsequent Underground Operations in the latter years of the mine life.”

            https://wsw.com/webcast/preciousmetals/tml.to/?lobby=true&day=1

          • On September 22, 2020 at 5:37 pm,
            Excelsior says:

            (NHK) (MIMZF) Nighthawk Gold Corp

            September 16, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Nighthawk Gold Corp. is a Canadian-based gold exploration company with a district-scale land position (222,203 acres or 900 km2), within the Indin Lake Greenstone Belt, located approximately 200 km north of Yellowknife, Northwest Territories. Nighthawk is focused on advancing the Colomac Gold Project with a recently updated inferred resource of 2.6 million ounces of gold (50.3 million tonnes at an average grade of 1.62 gpt Au), as well as advancing its other regional gold deposits and showings on its Indin Lake Gold Property, within a highly prospective and underexplored Archean gold camp.”

            https://wsw.com/webcast/preciousmetals/nhk.to/?lobby=true&day=2

          • On September 22, 2020 at 5:46 pm,
            Excelsior says:

            (HIGH) (HGGOF) HighGold Mining Inc.

            September 16, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “HighGold is a mineral exploration company with approximately C$11M in working capital, focused on high-grade gold projects located in North America. HighGold’s flagship asset, the Johnson Tract Gold (Zn-Cu) Project, is located in accessible south-central coastal Alaska. Johnson contains an Indicated Resource of 2.14 Mt grading 10.93 g/t gold equivalent (AuEq) for 750,000 ounces AuEq and an additional Inferred Resource of 0.58 Mt grading 7.16 g/t gold equivalent for 134,000 ounces AuEq. In addition, the main deposit area and the broader district both have excellent exploration potential indicated by several other prospects over a 12-kilometer strike length.”

            “The Company also controls a portfolio of quality gold projects in the greater Timmins gold camp, Ontario, Canada that includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold’s experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration. ”

            https://wsw.com/webcast/preciousmetals/high.v/?lobby=true&day=2

          • On September 22, 2020 at 5:49 pm,
            Excelsior says:

            (AUG) (Auryn Resources

            September 16, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Auryn Resources is a technically driven, well-financed junior exploration company focused on finding and advancing globally significant precious and base metal deposits. The company built a portfolio of six projects in Canada and Peru containing gold, silver and copper resources and exploration targets. In July 2020, Auryn announced its intention to spin out its Peruvian assets into two new companies and acquire Eastmain Resources, creating a Canadian gold-focused exploration and development company to be renamed as Fury Gold Mines. Upon closing of the spinout and acquisition transactions, expected in October 2020, Fury’s three core assets will comprise of Eau Claire in Quebec, Committee Bay in Nunavut and Homestake Ridge in British Columbia. Auryn shareholders, invested prior to the completion of the transactions, will become shareholders of Fury and will also receive shares in the two new Canadian spin out companies, one holding the Sombrero copper-gold project, and the other holding both the Curibaya silver-gold project and Huilacollo gold project.”

            https://wsw.com/webcast/preciousmetals/aug.v/?lobby=true&day=2

      • On September 22, 2020 at 11:12 pm,
        Excelsior says:

        (WHN) (WTHVF) Westhaven Gold Corp.

        September 17, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

        “Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt that management believes has district-scale potential to host multimillion ounce high-grade gold deposits. The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low cost exploration. Westhaven is committed to the highest standards of environmental and social responsibility with a focus on generating positive outcomes and returns to all stakeholders.”

        https://wsw.com/webcast/preciousmetals/whn.v/?lobby=true&day=3

        • On September 22, 2020 at 11:14 pm,
          Excelsior says:

          (LIO) (LOMLF) Lion One Metals Limited

          September 17, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

          “Lion One Metals Limited is set to become the premier high grade gold producer in Fiji at its 100% owned and fully permitted Tuvatu Gold Project. Lion One is focused on cost effective and environmentally responsible development of Tuvatu towards production and exploration of its license areas covering the highly prospective and underexplored Navilawa alkaline mineral complex.”

          https://wsw.com/webcast/preciousmetals/lio.v/?lobby=true&day=3

    • On September 22, 2020 at 4:01 pm,
      Excelsior says:

      speaking of Impact Silver…. This editorial nails the value proposition of IPT.
      ____________________________________________________________

      >> Mining The Metals Correction: Impact Silver (IPT) (ISVLF)

      August 27, 2020 – Braden Maccke

      “Impact is a rare instance of an exploration-focused junior producer. In contrast to most of its peers, who develop reserve-bases as assets, de-risking deposits to make them bait for larger mining enterprises, Impact produces directly from their Mexican silver properties, and sells the ore to market. Over the past few years, the strategy has run a flat margin for a loss. But a better metals market stands to improve the top-line, and reward the company for relative fiscal discipline.”

      “Impact has financed the development of the producing and yet-to-produce properties through the equities markets, carrying no debt or metals hedges, so a profit should map directly through to the share price without being squelched by interest expenses or the discount of advanced sales.”

      https://thedeepdive.ca/mining-the-metals-correction-impact-silver/

      • On September 22, 2020 at 5:31 pm,
        Excelsior says:

        speaking of Metallic Minerals…. Here’s their Beaver Creek Corporate presentation:
        _____________________

        (MMG) (MMNGF) Metallic Minerals Corp.

        September 16, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

        “Metallic Minerals Corp. is a growth stage exploration company, focused on the acquisition & development of high-grade silver and gold in under-explored districts of mining-friendly jurisdictions proven to produce top-tier assets. Our objective is to create value through a systematic, entrepreneurial approach to exploration. The Company’s core Keno Silver project is located in the historic Keno Hill silver district of Canada’s Yukon Territory, with over 300 million ounces of high-grade silver in past production and current M&I resources, and excellent existing infrastructure, including grid power, highway & road access. Metallic Minerals is led by a team with a track record of discovery and exploration success, including large scale development, permitting and project financing.”

        https://wsw.com/webcast/preciousmetals/mmg.v/?lobby=true&day=2

  3. On September 22, 2020 at 4:10 pm,
    Excelsior says:

    (SILV) (SIL) SilverCrest Metals Inc.

    September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

    “SilverCrest Metals Inc. is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico’s historic precious metal districts. SilverCrest is the first company to drill test the historic, high grade Las Chispas Silver-Gold project, which is a past precious metals producer. The Company is led by a proven management team in all aspects of the precious metal mining sector, including experience and success in applying a responsible phased approach business model in taking projects from discovery, finance, on time and on budget construction, and production with subsequent increased value to shareholders.”

    https://wsw.com/webcast/preciousmetals/sil.v/?lobby=true&day=1

    • On September 22, 2020 at 4:13 pm,
      Excelsior says:

      (SLVR) (SLVTF) Silver Tiger Metals Inc.

      September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

      “Silver Tiger Metals Inc. is a Canadian precious metals exploration company that is focused on exploration at its 28,414 hectare El Tigre historic mining district in Sonora, Mexico.”

      “After completing its 12,500 meter drill program at El Tigre, Silver Tiger delivered its maiden 43-101 resource estimate. Step-out drill holes completed in the unmined areas to the south and north of the old El Tigre Mine have returned silver and gold values reminiscent of the bonanza silver and gold grades mined underground in the early 1900’s at the old El Tigre Mine, supporting the theory that the El Tigre mineralized system is much larger than originally thought.”

      “The Company is led by a proven management and technical team that have taken precious metals projects in Mexico from discovery, through development, construction and production.”

      https://wsw.com/webcast/preciousmetals/slvr.v/?lobby=true&day=1

      • On September 22, 2020 at 4:16 pm,
        Excelsior says:

        (VZLA) (VIZSF) Vizsla Resources Corp.

        September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

        “Vizsla Resources is a mineral exploration company engaged in the business of the acquisition, exploration and development of mineral resource properties. The Company is focused on the Panuco Silver-Gold district in Mexico.”

        https://wsw.com/webcast/preciousmetals/vzla.v/?lobby=true&day=1

        • On September 22, 2020 at 4:26 pm,
          Excelsior says:

          (EXN) (EXLLF) Excellon Resources Inc.

          September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

          “Excellon Resources is advancing a precious metals growth pipeline that includes: Platosa, Mexico’s highest-grade silver mine since production commenced in 2005; Kilgore, a high quality gold development project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history and no modern exploration.”

          https://wsw.com/webcast/preciousmetals/exn.to/?lobby=true&day=1

      • On September 22, 2020 at 4:37 pm,
        Excelsior says:

        (DEF) (DNCVF) Defiance Silver Corp.

        September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

        “Defiance Silver Corp. is a Mexico-based silver and polymetallic exploration & development company actively engaged in advancing two major projects in Mexico, including the San Acacio silver project in the historic mining region of Zacatecas, and the Tepal copper-gold project in Michoacán, Mexico. The Company has one of the highest-grade silver deposits in Mexico and a large development asset with significant development potential.”

        https://wsw.com/webcast/preciousmetals/def.v/?lobby=true&day=1

        • On September 22, 2020 at 4:44 pm,
          Excelsior says:

          (BBB) (BBBXF) Brixton Metals Corporation

          September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

          “Brixton is a Canadian exploration and development company focused on the advancement of its gold copper and silver projects toward feasibility. Brixton wholly owns four exploration projects, the Thorn copper-gold-silver and the Atlin Goldfields Projects located in NWBC, the Langis-Hudson Bay silver-cobalt project in Ontario and the Hog Heaven silver-gold-copper project in NW Montana, USA.”

          https://wsw.com/webcast/preciousmetals/bbb.v/?lobby=true&day=1

          • On September 22, 2020 at 5:18 pm,
            Excelsior says:

            (AXU) Alexco Resource Corp.

            September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Alexco owns the historic high-grade Keno Hill Silver District in Canada’s Yukon Territory. The Company has a long history of expanding Keno Hill’s mineral resources through exploration and is currently advancing the development plan for the District. In 2019, Alexco published a positive pre-feasibility study that estimates production of 1.2 million tonnes of ore at an average of 430 tonnes per day 805 grams per tonne silver over an 8-year mine life from the Bellekeno, Flame & Moth, Bermingham, and Lucky Queen deposits. The Company is advancing key infrastructure while it awaits the final permit to make a construction decision.”

            https://wsw.com/webcast/preciousmetals/axu/?lobby=true&day=2

          • On September 22, 2020 at 11:08 pm,
            Excelsior says:

            (AUN) (AUNFF) Aurcana Corporation

            September 17, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Aurcana Corporation owns the Revenue Virginius Mine in Ouray, Colorado, US. The mine has the highest proven and probable silver grades in the world. The company is planning to put the mine back into production late Q4 2020 or early Q1 2021, with 3.1M ounces of silver equivalent produced each year.”

            “Also, the company owns the Shafter Silver Mine in Texas, US. The Shafter Silver Mine was put on care and maintenance in December 2013, in part due to depressed silver prices. A Preliminary Economic Assessment was completed on August 31, 2016. Timeline to re-starting production is 9 months. In August 2018 the company announced the intent to purchase Ouray Silver Mines, a past producing mine located in Colorado, US.”

            https://wsw.com/webcast/preciousmetals/aun.v/?lobby=true&day=3

        • On September 22, 2020 at 11:09 pm,
          Excelsior says:

          (DSV) (DSVMF) Discovery Metals Corp

          September 17, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

          “Discovery is aggressively advancing its 100%-owned Cordero silver project, one of the world’s largest undeveloped silver resources. There are currently four drill rigs turning at Cordero as part of a 55,000 m Phase 1 drill program that will culminate in a brand new resource and PEA in 2021. Discovery has a current cash balance of over C$80mln and is part of the Oxygen group of companies.”

          https://wsw.com/webcast/preciousmetals/dsv.v/?lobby=true&day=3

    • On September 22, 2020 at 4:47 pm,
      Excelsior says:

      (USAS) (USA) Americas Gold and Silver

      September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

      Americas Gold and Silver Corporation is a leading Canadian-based precious metals producer with a strong operating platform in the Americas.

      “With the recently acquired and funded heap-leach gold Relief Canyon project in Nevada, and recently constructed San Rafael Mine in Mexico at full production, Americas Gold and Silver is an emerging low-cost growth company.”

      https://wsw.com/webcast/preciousmetals/usa.to/?lobby=true&day=1

      • On September 22, 2020 at 4:49 pm,
        Excelsior says:

        (SMTS) (SMT) Sierra Metals Inc.

        September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

        “Sierra Metals is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru, and its Bolivar Copper Mine and Cusi Silver Mine in Mexico. The Company is focused on increasing production volume and growing mineral resources. It is currently ramping up production from its recently completed expansions at all three mines. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.”

        https://wsw.com/webcast/preciousmetals/smt.to/?lobby=true&day=1

        • On September 22, 2020 at 5:02 pm,
          Excelsior says:

          (JAG) (JAGGF) Jaguar Mining Inc.

          September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

          “Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil with three gold mining complexes, and a large land package with significant upside exploration potential from mineral claims covering an area of approximately 64,000 hectares. The Company’s principal operating assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the Turmalina Gold Mine Complex and Caeté Gold Mine Complex. The Company also owns the Paciência Gold Mine Complex, which has been on care and maintenance since 2012.”

          https://wsw.com/webcast/preciousmetals/jag.to/?lobby=true&day=1

          • On September 22, 2020 at 5:20 pm,
            Excelsior says:

            (GAU) Galiano Gold Inc.

            September 16, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Galiano is focused on creating a sustainable business capable of long-term value creation for its stakeholders through organic production growth, exploration and disciplined deployment of its financial resources. The company currently operates and manages the Asanko Gold Mine, located in Ghana, West Africa which is jointly owned with Gold Fields Ltd. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.”

            https://wsw.com/webcast/preciousmetals/gau/?lobby=true&day=2

          • On September 22, 2020 at 10:58 pm,
            Excelsior says:

            (SGI) (SUPGF) Superior Gold Inc.

            September 17, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            “Superior Gold Inc. is a Canadian based gold producer that owns and operates 100% of the Plutonic Gold operations located in the world class goldfields of Western Australia. The Plutonic Gold operations include the Plutonic underground gold mine, the Hermes open pit projects and an interest in the Bryah Basin joint venture. The Plutonic mine has been in continuous production since 1990 and, having produced more than 5.5 million ounces of gold, is one of Western Australia’s largest historic gold producers.”

            “In 2020, the Company is targeting production of between 60,000 to 70,000 ounces and remains focused on establishing the Plutonic Gold operations as a producer capable of delivering at least 100,000 ounces of gold annually.”

            https://wsw.com/webcast/preciousmetals/sgi.v/?lobby=true&day=3

        • On September 22, 2020 at 11:05 pm,
          Excelsior says:

          (NEE) (NHVCF) Northern Vertex Mining Corp.

          September 17, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

          “Northern Vertex Mining Corp., is focused on low cost gold and silver production at its 100% owned Moss Mine in NW Arizona. The Company has experience across all areas of operations, mine development, exploration, acquisitions and financing of mining projects. With operations at the Moss Mine achieving commercial production the Company intends to consolidate additional producing or near-term production gold assets within the western United States.”

          https://wsw.com/webcast/preciousmetals/nee.v/?lobby=true&day=3

          • On September 22, 2020 at 11:18 pm,
            Excelsior says:

            (AUMN) Golden Minerals Company

            September 15, 2020 – Precious Metals Summit #BeaverCreek (Virtual)

            Golden Minerals Company is a Colorado-based company that offers investors leverage to silver and gold prices through our portfolio of around a dozen silver & gold projects in Mexico, Argentina and Nevada. Our stock is dual listed on the NYSE American and the TSX. We have leased one of our two Mexican processing mills to Hecla Mining Company since mid-2015, and this arrangement provides cash that supports our exploration activities.

            In 2020, we are:
            • Advancing the Rodeo gold project – with mining and processing anticipated to start in early 2021
            • Continuing to prepare the Velardeña Properties for a potential restart of mining in 2021-2022 using bio-oxidation for gold processing
            • Advancing the El Quevar Project (Salta, Argentina) via partner-funded exploration with Barrick Gold through an Earn-in Agreement signed in 2020

            https://wsw.com/webcast/preciousmetals/aumn/?lobby=true&day=1

  4. On September 22, 2020 at 4:44 pm,
    OOTB Jerry says:

    Phyz was a buy today…………

    • On September 23, 2020 at 6:40 am,
      OOTB Jerry says:

      GSR……………80 to 1 ……..Wed

      • On September 23, 2020 at 6:41 am,
        OOTB Jerry says:

        Bought some phyz…….silver,,,,

        • On September 23, 2020 at 7:14 am,
          OOTB Jerry says:

          Silver getting ready to go back to $22 plus,,,$22.98???????????

          • On September 23, 2020 at 8:02 am,
            OOTB Jerry says:

            oops……..looks like $22 again…..silver is struggling ….well,…long term , still ok

          • On September 23, 2020 at 8:31 am,
            b says:

            When does the word decimation happen?

            We could drop another $100 from here.

            At least according to Mr. Thomson.

  5. On September 23, 2020 at 6:51 am,
    Tom says:

    long TGTX

  6. On September 23, 2020 at 9:07 am,
    cfs says:

    Zephyr drills 8.23 m of 11.2 g/t Au at Dawson

    2020-09-23 11:24 ET – News Release

    Ms. Loren Komperdo reports

    ZEPHYR REPORTS DAWSON GOLD DRILLING

    Subsequent to completing drill hole EP-20-01 on the El Plomo silver-lead-zinc target, Zephyr Minerals Ltd. moved the drill rig to the Dawson gold section where drill hole DA-20-18 was completed at a depth of 269.8 metres (m) (885 feet (ft)).

  7. On September 23, 2020 at 9:27 am,
    Excelsior says:

    Wow – It is crazy in the $Gold and $Silver markets today, with the metals and miners down again. I’ve been busy all morning heeding the advice of Admiral Ackbar – “Take Evasive Action!” 🙂

    https://memegenerator.net/img/instances/81626318/take-evasive-action.jpg

    • On September 23, 2020 at 9:48 am,
      Excelsior says:

      I’ve been selling the few dogs I’ve got left, that have been kept on a long leash (hoping they’d rebound a bit more before cutting them loose for tax loss selling).

      Conversely, I’ve been buying the quality assets back on firesale in the selloff today.

      It’s a good time to #ShuffleTheDeck.

    • On September 23, 2020 at 9:58 am,
      cfs says:

      COMEX options mature tomorrow…..the banks may have covered enough shorts by then to end the rape.

      I hope so, because I’m running out of spare cash with my buying silver/shares.

  8. On September 23, 2020 at 10:06 am,
    Glenfidish says:

    Thanks ex, Jerry and cfs for your comments today!

    Gold update!

    This looks and smells like it could end today or even tomorrow! However It looks like there may be more pain for 2-3 weeks. Lines-up with my previous gold update October week of the 16 th final low..

    I will tell you how I’m playing this.

    My longs remain intact=Have not sold one share
    My short term trading portfolio= Did not sell a share

    I’m a net buyer..Had 4 tranches of which I used 2. This is in record and in real terms.

    I did not buy today and those two remaking tranches May not come to fruition however of this timing low goes into my timing band lol of the 16 th, I will deploy 3rd and than final 4 th tranche and go for a walk..

    Bottom line is I have turned to waiting/buying investor until further notice.

    Cheers

    • On September 23, 2020 at 11:39 am,
      Excelsior says:

      Glenfidish – Thanks for sharing your market outlook and the strategy you are personally taking.

      I ended up doing more buying today than I expected to do, and fortified a few of my key positions in advanced developers and in particular the producers (which I still believe will surprise the markets with their Q3 results when those operations reports hit the newswires in 1-2 months). As a result I’ve used up a great bit of my dry powder today, but have a little bit more left to deploy if we see more selling throughout the week.

      I still have some deep savings I could bring over from other accounts if this downturn gets really protracted, but I’d only bring out that firepower if Gold did go back below $1800 or if Silver went back below $21. We’ll see how it goes…

      Ever Upward!

    • On September 23, 2020 at 11:44 am,
      OOTB Jerry says:

      Glen thanks for sharing your thoughts………….best

    • On September 23, 2020 at 1:38 pm,
      Canuckski says:

      I was just planning to send a note your way Glenfidish to learn of when you were planning to go in with your next tranche, but you beat me to it. thanks for sharing.

  9. On September 23, 2020 at 1:07 pm,
    David says:

    Seems like old times.