Big Picture Precious Metals Commentary – What’s Driving The Move In PMs and PM Stocks?
Brien Lundin joins me today for a focus on the gold market and the gold stocks. It’s a very good for both as money continues to come into the markets and now into the metals. We outline what is driving this move and a couple key charts to watch heading into the end of the week. Finally a discussion on what it will take to spur M&A in the sector.
Click here to learn more about Brien’s newsletter – The Gold Newsletter.
Ex:
I am at 7.39% at the moment…and…I will take it!
I’m at 13% thanks to leverage.
Wow…13%. I say leverage and “good picks”.
Nicely done Matthew & David. It’s great to see a little green on the screen today. š
Thanks to some leverage I’m up 9.88%…insane rocket-ship day!
Looks Like Franco Nevada sent a message to the market too.
(FNV) Franco-Nevada Reports Record Financial Results
by @newswire on 4 Nov 2020
https://ceo.ca/@newswire/franco-nevada-reports-record-financial-results
(EDR) (EXK) Endeavour Silver is back to profitability.
Here is a good #Video update on their Q3 financials from CEO Brad Cooke.
Hi Ex…Great to see you getting back in the saddle.
Thanks IrishT. I’m in the calm in the eye of the storm right now. Haha!
Also, I miss chatting with the good folks here at the KER!
Bonzo bought more KUYAF@ 1.06 this morning before it went soaring up. Looks like I did the right thing this time. Yippee! Anyone else here own KUYAF?
KUYAF: Good pick. It is on a run.
I have Kuya silver corp.
I bought it as MRRMd, it changed to MRRMf last week.
You have KUYAF…
What is what? Thanks.
LOL, I just called TD, they updated my portfolio, ticker is now KUYAF
Thanks
I owned Kuya when it was Miramont Resources until there was some brewhaha over something that ticked off Moriarty. Rather than see how things would work out, I moved along. Glad to see they are catching on…without me.
Yes have had it for a while now….finally back on track!
Quinton is now chairman of the board of KUYAF so I wanted more.
Hopefully that bull flag breakout will keep breaking out.
I believe strongly that it will based on the breadth of the move within the sector and other commodities as well.
GDM:
https://stockcharts.com/h-sc/ui?s=%24GDM&p=D&yr=1&mn=5&dy=0&id=p32917431364&a=672055134
I just caught up on some mining news. Silvercorp hitting a narrow but bonanza grade drill intercept. 6,455 g/t Silver w/ 10 g/t gold is impressive.
_________________________________
(SLV) Silvercorp Intersects 0.92 Metres Grading 6,455 g/t Silver, 10 g/t Gold and 5.28% Lead at the LME Mine, Ying Mining District, China
I saw that yesterday and it dropped. I nearly sold my silvercrest for a swap. Probably should have…Silvercorp always been a low cost producer and excellent pereformer.
I like and own both Silvercorp and Silvercrest for different reasons, but yes, SVM is the lowest cost Silver producer out there, and has done well exploring and replacing their reserves for years now.
Al:
I know what you mean. Some days mine tank while other people’s go up. Some of it has to do with Exchange/Country differences. Some has to do whether they are listed in an index. Some is whether managed money can buy them. But, my real response is, I have no clue.
(SVM) Silvercorp Reports Net Income of $15.5 Million, $0.09 Per Share, and Cash Flow From Operations of $29.6 Million for Q2 Fiscal 2021
5 Nov 2020
https://ceo.ca/@nasdaq/silvercorp-reports-net-income-of-155-million-009-432da
how are people seeing such huge percentage gains today? I’m 100% invested in mining stocks and am up 2% on the day. More green than red but still seeing tax loss selling in some juniors.
What’s everyone’s best performer/s today? % and $ for me are Vizsla and Discovery.
While I was typing, Metallic just increased for % lead, but discovery still Dollar.
Agreed David. For me Excellon, Discovery, Metallic Minerals,Orefinders, Vizsla, Endeavour Silver, Aurcana, Golden Minerals, Metalla, Americas Silver, Coeur, Silvercorp, Trevali, Impact, McEwen, Alexco, Anaconda, Bonterra, Newrange, Orex, Defiance, are some of the double-digit gainers.
There are also a lot of 8-9%ers like Scorpio, QMX, Group Ten, Bayhorse, Platinum Group Metals, Galane, Sabina, Energy Fuels, etc… Changing too fast to keep up with it.
Double digit (Reverse % High to Low): Sky, Kairos, Discovery, Scorpio, Metallic, Orefinders, Aurcana, Vizsla, Southern Silver, Impact, GRSilver, Silvercrest, QMX, Group Ten, Precipitate, Scottie, Ely, Freegold, Condor, NewRange.
9%: Summa, Wallbridge and Minera Alamos
Bunch of overlaps.
Silver Tiger moved into double digit. Too fast, but also overall % moving up also.
Nice list David. Hmm. I only show Silver Tiger up 2% on the day.
My list is prone to error in Schwab’s price quotes. Usually I complain once a day about one of my stocks being out of wack with OTC Markets listing. They humor me and say they have passed it on, but I never see a change in the listing that particular day. If you have something different, you are probably right. I see OTC Markets has Silver Tiger at +6.5% and Schwab at 5.7%. It was in the +10% area a minute ago. Oh well
Good example: currently Sky Gold at +12.46% on OTC, whereas Schwab showing +36.5%. Small discrepancy.
Big finish at close for Great Bear and took the dollar prize for the day in my account. Came from the back of the pack.
Way to go on the Great Bear gains David. I still never got a position in that juggernaut, but congratulate all those investors that caught the ride in one of the top gold exploration stories of the last 2 years. Kudos!
4:00 EST +8.77%. I will take it. Thanks guys for the fun day. I get worn out complaining most of the time. Ever Upward!
Keep the good charts coming.
Nicely done. I ended the day up 9.81% (but did trim back a few as they stretched into the double-digits, so it may have been a bit higher if it wasn’t for that).
As you mentioned earlier “I’ll take it!”
Overall it was a fantastic day in the Precious Metals miners, so hoping the good folks here at the KER cashed in and made a little cheddar today.
> Symbol – $Silver #Producers Daily Change %
EXN.TO Excellon Resources Inc. +25.32%
EXK Endeavour Silver Corp. +22.26%
ASM Avino Silver & Gold Mines Ltd. +17.06%
HL Hecla Mining Company +15.93%
USAS Americas Gold and Silver Corporation +15.64%
SVM Silvercorp Metals Inc. +15.22%
CDE Coeur Mining, Inc. +15.03%
FSM Fortuna Silver Mines Inc. +14.24%
IPT.V IMPACT Silver Corp. +13.98%
GGD.TO GoGold Resources Inc. +13.01%
PAAS Pan American Silver Corp. +12.46%
SSRM SSR Mining Inc. +11.66%
SBR.TO Silver Bear Resources Plc +11.11%
AG First Majestic Silver Corp. +10.99%
SCZ.V Santacruz Silver Mining Ltd. +9.09%
GPL Great Panther Mining Limited +8.09%
HOC.L Hochschild Mining plc +4.81%
FRES.L Fresnillo Plc +2.91%
SMTS Sierra Metals Inc. +0.48%
>> Symbol – $Silver #Developers & #Explorers Daily Change %
BCK.V Blind Creek Resources Ltd. +27.27%
ISLV International Silver, Inc. +24.62%
MMG.V Metallic Minerals Corp. +20.00%
CMB.V CMC Metals Ltd. +20.00%
DSV.V Discovery Metals Corp. +19.63%
CCW.V Canada Silver Cobalt Works Inc. +19.57%
CCM.TO Canarc Resource Corp. +19.23%
AZR.V Azarga Metals Corp. +18.18%
AUN.V Aurcana Silver Corporation +17.86%
KUYA.CN Kuya Silver Corp. +17.32%
AAG.V Aftermath Silver Ltd. +16.6667%
TUF.V Honey Badger Exploration Inc. +16.67%
GRSL.V GR Silver Mining Ltd. +16.67%
SSV.V Southern Silver Exploration Corp. +15.56%
JAX.V Jaxon Mining Inc. +15.38%
AUMN Golden Minerals Company +15.30%
DEF.V Defiance Silver Corp. +15.25%
SIL.TO SilverCrest Metals Inc. +15.17%
RYO.V Rio Silver Inc. +14.29%
MAG.TO MAG Silver Corp. +13.91%
ANZ.V Alianza Minerals Ltd. +13.64%
VZLA.V Vizsla Resources Corp. +13.57%
SVE.V Silver One Resources Inc. +13.11%
EQTY.V Equity Metals Corporation +12.90%
AXU Alexco Resource Corp. +12.40%
KTN.V Kootenay Silver Inc +12.33%
AZT.V Aztec Minerals Corp. +12.12%
SSVR.CN Summa Silver Corp. +11.93%
AUU.V Gold79 Mines Ltd. +11.11%
ELEF.TO Silver Elephant Mining Corp. +10.39%
MSV.TO Minco Silver Corporation +9.80%
CLZ.V Canasil Resources Inc. +9.52%
SSE.V Silver Spruce Resources Inc. +9.09%
GOG.V Golden Tag Resources Ltd. +8.96%
REX.V Orex Minerals Inc. +8.33%
NBR.V Nubian Resources Ltd. +7.94%
RSLV.V Reyna Silver Corp. +7.87%
VIPR.V Silver Viper Minerals Corp. +7.50%
BRC.V Blackrock Gold Corp. +7.50%
TM.V Trigon Metals Inc. +7.50%
KS.V Klondike Silver Corp. +7.14%
DV.V Dolly Varden Silver Corporation +6.02%
SLV.CN Silver Dollar Resources Inc. +5.66%
VML.V Viscount Mining Corp. +5.49%
SVB.TO Silver Bull Resources, Inc. +5.33%
BHS.V Bayhorse Silver Inc. +4.76%
ABRA.V AbraPlata Resource Corp. +4.5455%
RRI.V Riverside Resources Inc. +4.35%
OCG.V Outcrop Gold Corp. +3.85%
ELO.V Eloro Resources Ltd. +3.61%
SLVR.V Silver Tiger Metals Inc. +3.57%
BCM.V Bear Creek Mining Corporation +3.50%
UFO.L Alien Metals Limited +3.33%
WRM.AX White Rock Minerals Ltd +3.26%
BBB.V Brixton Metals Corporation +3.17%
AZS.V Arizona Silver Exploration Inc. +3.08%
NUAG.V New Pacific Metals Corp. +2.65%
ARD.AX Argent Minerals Limited +2.63%
IVR.AX Investigator Resources Limited +2.04%
BNKR.CN Bunker Hill Mining Corp. +1.96%
VGLD.V Vangold Mining Corp. +1.79%
> Symbol – $Gold Major #Producers Daily Change %
GFI Gold Fields Limited +11.92%
HMY Harmony Gold Mining Company Limited +11.56%
KGC Kinross Gold Corporation +9.00%
SBSW Sibanye Stillwater Limited +8.51%
EDV.TO Endeavour Mining Corporation +7.33%
AUY Yamana Gold Inc. +7.19%
AU AngloGold Ashanti Limited +7.16%
GOLD Barrick Gold Corporation +6.93%
KL Kirkland Lake Gold Ltd. +5.91%
POLY.L Polymetal International plc +4.33%
NEM Newmont Corporation +4.26%
AEM Agnico Eagle Mines Limited +4.16%
1787.HK Shandong Gold Mining Co., Ltd. +0.94%
>> Symbol – $Gold Mid-Tier #Producers Daily Change %
CXB.TO Calibre Mining Corp. +17.27%
MUX McEwen Mining Inc. +14.89%
GAU Galiano Gold Inc. +12.78%
SSRM SSR Mining Inc. +11.66%
EGO Eldorado Gold Corporation +11.23%
DPM.TO Dundee Precious Metals Inc. +10.43%
IAG IAMGOLD Corporation +10.34%
TXG.TO Torex Gold Resources Inc. +9.63%
OGC.TO OceanaGold Corporation +9.60%
EQX Equinox Gold Corp. +9.46%
DRD DRDGOLD Limited +9.42%
TGZ.TO Teranga Gold Corporation +9.41%
AGI Alamos Gold Inc. +9.26%
BTG B2Gold Corp. +8.91%
IGO.V Independence Gold Corp. +8.70%
PVG Pretium Resources Inc. +8.43%
CGG.TO China Gold International Resources Corp. Ltd. +6.36%
GCM.TO Gran Colombia Gold Corp. +6.28%
PRU.TO Perseus Mining Limited +5.98%
ROXG.TO Roxgold Inc. +5.88%
AR.TO Argonaut Gold Inc. +5.53%
CG.TO Centerra Gold Inc. +4.57%
KNT.V K92 Mining Inc. +4.19%
DNG.TO Dynacor Gold Mines Inc. +3.95%
PAF.L Pan African Resources PLC +3.69%
GSS Golden Star Resources Ltd. +3.69%
CEE.TO Centamin plc +2.75%
KOZAL.IS Koza Altin Isletmeleri A.S. +2.65%
WAF.AX West African Resources Limited +2.51%
POG.L Petropavlovsk PLC +2.39%
MML.AX Medusa Mining Limited +1.91%
NST.AX Northern Star Resources Limited +1.05%
RMS.AX Ramelius Resources Limited +0.98%
EVN.AX Evolution Mining Limited +0.86%
1818.HK Zhaojin Mining Industry Company Limited +0.77%
>>> Symbol – $Gold Small #Producers Daily Change %
PGDC.V Patagonia Gold Corp. +13.79%
SAU.AX Southern Gold Limited +13.64%
GER.V Glen Eagle Resources Inc. +13.33%
GGD.TO GoGold Resources Inc. +13.01%
ANX.TO Anaconda Mining Inc. +12.96%
SGI.V Superior Gold Inc. +11.94%
STGO.TO Steppe Gold Ltd. +11.76%
HRT.TO Harte Gold Corp. +11.54%
ORV.TO Orvana Minerals Corp. +10.20%
AGD.AX Austral Gold Limited +8.89%
GG.V Galane Gold Ltd. +7.89%
TRX Tanzanian Gold Corporation +7.60%
KRR.TO Karora Resources Inc. +7.46%
SAM.TO Starcore International Mines Ltd. +6.78%
PG.TO Premier Gold Mines Limited +6.34%
CGC.V Caldas Gold Corporation +5.99%
F.V Fiore Gold Ltd. +5.92%
WDO.TO Wesdome Gold Mines Ltd. +5.52%
AMI.AX Aurelia Metals Limited +5.43%
SHG.L Shanta Gold Limited +4.76%
GXS.V Goldsource Mines Inc. +4.17%
NIM.V Nicola Mining Inc. +4.17%
CAL.TO Caledonia Mining Corporation Plc +3.34%
SBI.TO Serabi Gold plc +3.21%
WMX.AX Wiluna Mining Corporation Limited +2.81%
ALK.AX Alkane Resources Limited +2.72%
GORO Gold Resource Corporation +2.71%
IMII Inception Mining, Inc. +2.50%
JAG.TO Jaguar Mining Inc. +1.65%
ALTN.L Altyn Plc +1.47%
ORA.TO Aura Minerals Inc. +0.14%
>>>> Symbol – $Gold #Developers Daily Change %
ATC.V ATAC Resources Ltd. +37.50%
ORX.V Orefinders Resources Inc. +21.43%
AAU Almaden Minerals Ltd. +17.82%
UGD.V Unigold Inc. +16.87%
KER.TO Kerr Mines Inc. +16.67%
MAX.TO Midas Gold Corp. +15.97%
KORE.V KORE Mining Ltd. +14.84%
LN.TO Loncor Resources Inc. +14.71%
WVM.V West Vault Mining Inc. +13.94%
BTR.V Bonterra Resources Inc. +13.64%
FVL.TO Freegold Ventures Limited +13.25%
SGN.V Scorpio Gold Corporation +12.90%
TSG.V TriStar Gold, Inc. +12.90%
OSK.TO Osisko Mining Inc. +12.89%
SA Seabridge Gold Inc. +12.53%
LPK.V Lupaka Gold Corp. +12.50%
GRC.TO Gold Springs Resource Corp. +12.00%
GWA.V Gowest Gold Ltd. +11.11%
RUP.V Rupert Resources Ltd. +10.91%
THM International Tower Hill Mines Ltd. +10.34%
MAI.V Minera Alamos Inc. +10.29%
LGD.TO Liberty Gold Corp. +10.29%
ESM.TO Euro Sun Mining Inc. +10.14%
USAU U.S. Gold Corp. +10.10%
OLA.TO Orla Mining Ltd. +9.89%
ORE.V Orezone Gold Corporation +9.64%
SBB.TO Sabina Gold & Silver Corp. +9.24%
LUM.V Lumina Gold Corp. +8.86%
LIO.V Lion One Metals Limited +8.86%
PZG Paramount Gold Nevada Corp. +8.80%
MOZ.TO Marathon Gold Corporation +8.77%
TLG.TO Troilus Gold Corp. +8.62%
CMM.AX Capricorn Metals Ltd +8.26%
TUD.V Tudor Gold Corp. +8.16%
SPA.V Spanish Mountain Gold Ltd. +8.05%
KOR.TO Corvus Gold Inc. +7.79%
GOM.V Golden Dawn Minerals Inc. +7.69%
SFEG Santa Fe Gold Corporation +7.69%
VGZ Vista Gold Corp. +7.69%
ORG.V Orca Gold Inc. +7.69%
TRX Tanzanian Gold Corporation +7.60%
NG NovaGold Resources Inc. +7.34%
MQR.TO Monarch Gold Corporation +7.27%
PGM.V Pure Gold Mining Inc. +7.21%
GSV Gold Standard Ventures Corp +6.94%
MAE.V Maritime Resources Corp. +6.67%
BSR.V Bluestone Resources Inc. +6.38%
LUG.TO Lundin Gold Inc. +6.35%
ITR.V Integra Resources Corp. +6.09%
CKG.V Chesapeake Gold Corp. +5.98%
WM.TO Wallbridge Mining Company Limited +5.81%
KEFI.L KEFI Gold and Copper Plc +5.57%
GGP.L Greatland Gold plc +5.31%
AGG.V African Gold Group, Inc. +5.26%
PRB.V Probe Metals Inc. +5.14%
GGM.V Granada Gold Mine Inc. +4.88%
BSX.TO Belo Sun Mining Corp +4.84%
KTO.V K2 Gold Corporation +4.84%
SIH.AX Sihayo Gold Limited +4.76%
MGM.V Maple Gold Mines Ltd. +4.44%
ERD.TO Erdene Resource Development Corporation +4.44%
OREA.TO Orea Mining Corp. +4.17%
RKR.V Rokmaster Resources Corp. +3.92%
NVO.V Novo Resources Corp. +3.47%
WRM.AX White Rock Minerals Ltd +3.26%
AGC.V Amarillo Gold Corporation +2.94%
WGC.CN Winston Gold Corp. +2.94%
FPC.V Falco Resources Ltd. +2.50%
TML.TO Treasury Metals Inc. +2.17%
GLDX.V Gold X Mining Corp. +2.05%
TNGL Tonogold Resources, Inc. +1.87%
GPR.AX Geopacific Resources Limited +1.75%
GQC.V Goldquest Mining Corp. +1.61%
DCN.AX Dacian Gold Limited +1.37%
BDC.AX Bardoc Gold Limited +1.35%
FIL.V Filo Mining Corp. +1.19%
OIII.V O3 Mining Inc. +0.68%
CDV.AX Cardinal Resources Limited +0.49%
SKE.TO Skeena Resources Limited +0.39%
I see the lists are back. Lol. Good to see you posting again Ex. Iām still reading but have been posting very little lately. Work is crazy these days
Haha! Thanks Wolfster. I’m in the same boat, and haven’t been keeping up with everything as much lately, but hit a lull point this week between chaotic schedules, and the market was so exciting today, that a few daily performance lists seemed to be in order. š
Hoping you did well today amigo!
EX,
good to see you back.
I only own MUX on that list. I own because it is going to rip higher when Rob fixes the speed-bumps his company hit. Chart looks okay but not amazing compared to others in the space, but one any mania activity kicks in it will have more torque because the newbie punters will pile into mines of Rob and Pierre Lassonde and Orla Mining (up just 9% today)….it is more of a psychology play….but Orla and MUX are serious and have REAL ounces in the ground.
Hi confused and yes it was nice to focus on the markets today a bit more and get a few posts up.
I agree on MUX, and while the performance from Rob & co. have been a burr in my saddle the last 2 years with a series of disappointing quarters, I bought back into McEwen mining for the 4th time in the recent past (initiating a position on 08/03, and adding more tranches on 08/11, 9/14, 9/23, and 10/29). My cost basis is $1.18, so with the close today at $1.08, then I’m about a dime underwater. It is weighted in 24th position in my portfolio, so it isn’t a primary focus at present, but that can change as the bull develops.
As you mentioned, McEwen Mining should have more torque than it has had the last few years when the precious metals mania does get underway, and Rob still does have good name recognition. MUX has been beaten down pretty hard the last 3 years in valuation, and yet most of the disappointment should be in the rear-view mirror now, as they’ve been working hard to get their operations turned around. MUX also may have the advantage of surprising analysts and the market to the upside if they can get their mines running more optimally, and if metals prices stay elevated.
I’m familiar with Orla Mining, and track it, but don’t own it or follow it that closely. Maybe I should take a closer look though if you feel it has a competitive edge, and
it has performed well in 2020, compared to peer developers.
May your positions do incredibly well when the newbie punters do finally pile into this tiny sector.
We are rich boyz……..gold on the way to $3900….OOTB….. š
Friday in a few hours…..and Friday is always gooood…… š
$3900 seems like a good start for tomorrow.
Lol…….. I see, Turd, is saying watchout for those calling for gold at $3000…..lol… š
Wow OOTB! On the way to $3900 Gold…
I’ll be thrilled to just see Gold back over $2000 again, but if it treks that high, then yes we may be rich boyz. Ha!
https://www.neatorama.com/wp-content/uploads/2012/04/scrooge-500×281.jpg
Yes, in about 10 more years…. š
+10 What’s waiting a mere decade amongst friends, if we all end up rich on the back side?
Today was a strange day,
instead of stink bids, I put in some stink offers…..to sell some of my dogs at 10% to 15% over their last price. And a whole bunch of them sold.
I don’t often have a 6 figure up day….feels good.
+6 (figures). Well done sir.
Are Junior Silver Miners Setup For A Big Rally?
Chris Vermeulen – Thu., November 5, 2020
https://www.fxempire.com/forecasts/article/are-junior-silver-miners-setup-for-a-big-rally-681714
I had a round of golf & a 5-figure day(on portfolio), which is 10%. Even bought more Mexus, which has to be undervalued by now.
Well done Buzz. Yeah, I’ve been watching old Mexus, but it’s been in a downtrend lately, even as they finally are ratcheting up production. At these elevated gold prices and their large margins, they should be making a dent in starting to pay down their debt load. I believe that is what has been hanging over their head for some time, but Paul had mentioned a month or two back in some release that they had a plan to pay down their debt in the next 6 months. Miners are notorious for overpromising, but still, by the end of the 1st quarter of 2021, they should have produced enough gold to have whittled it down substantially. Providing there are no more significant hiccups, then they should be at break even by the middle of next year, and then producing free cashflows by the 3rd or 4th quarter of next year. That is when they should get a solid re-rating higher.
(MXSG) Mexus Recovery Efforts at Santa Elena Mine Progressing; Build Out of Heap Leach Pad on Track
26 Oct 2020
āI want to remind Mexus shareholders that we are entering into a period where three different gold recovery systems will be operational. In the near term we have the screen wash high-grade chloride material being processed. The company will also have its new heap leach pad in place and will be running high grade quartz material through our ball mill system.ā added Mexus CEO Paul Thompson.
https://ceo.ca/@nasdaq/mexus-recovery-efforts-at-santa-elena-mine-progressing
I heard that Musk is working on an atomic powered rocket engine to take man to the moon for the first time. I’m still not convinced that Apollo whatever landed fifty years ago, but private industry is now capable of completing the job. Musk will find out that the moon is inhabited by Martians and lecture him on the perils of turning the moon into a weaponized base so he can dominate the universe. Isn’t science fiction wonderful you can create any kind of a scenario where man destroys the natural world. LOL! DT
I’m not sure whether the above post falls into the category of politics or mining but I think it’s a bit of both. DT
Hi Ex, it’s good to have you back for a while, finally the reversal seems to be over. DT
Thanks DT. Yes, it is looking like the corrective leg that started in August is turning with breakout above key resistance levels in many stocks.
The overall uptrend, that has been in place the last 2 years, and really since the Dec 2015 bottom, is still solidly in place and the precious metals have garnered more respect from generalist investors.
Even if there is more weakness due to the US election madness, more covid-19 lockdowns, or any other black swans we can’t see yet, the overall backdrop is still very constructive. There will eventually be a stimulus bill passed, more debt will keep piling up, more central bank tinkering and easing will continue, and the global economy and currencies will remain a roller-coaster.
____________________________________________________
Gold price: ETF inflows continue for 11th straight month
Mining.com Editor | November 5, 2020
Gold ETFs have now added more than 1,000 tonnes in a year for the first time ever, surpassing the 2009 record of 646 tonnes.
Net inflows of 1,022 tonnes ($57.1 billion) so far in 2020 have driven global gold ETF holdings to a new all-time high of 3,899 tonnes ($235 billion in AUM).
European funds drove nearly all net inflows for the month of October, with total holdings increasing by 20.2 tonnes ($1.4 billion).
North American funds and funds listed in Asia saw holdings rise by 1.8 tonnes ($166 million) and 1.1 tonnes ($76 million) respectively. The remaining regions had outflows of 2.8 tonnes ($144 million).
https://www.mining.com/gold-price-etf-inflows-continue-for-11th-straight-month/
Santa Might Come Early For Gold Investors
by @Goldfinger on 5 Nov 2020
“At the risk of being wrong, I’m going to go out on a limb and declare that the 3-month correction in the precious metals sector has concluded. Everything I see out there indicates to me that sentiment is sufficiently depressed and charts are locked and loaded, poised for a year end rally.”
“To put things into perspective, the GDXJ had a more than 200% rally from its March low to its early August peak. Since peaking at $65.95 on August 5th, the GDXJ has suffered a ~22% correction over a 3-month period – most of the recent consolidation/correction in the gold mining sector has been through time, in a messy and frustrating sideways-to-lower price pattern.”
“Honestly, one couldn’t ask for a more natural bull market pattern – a 200%+ rally followed by a 22% correction that has served to reset charts across the sector while transforming investor sentiment from a bullish euphoria in early August to a despondent pessimism at last week’s lows.”
“The stage is now set for a powerful year end rally in precious metals and mining shares.”
https://ceo.ca/@goldfinger/santa-might-come-early-for-gold-investors
The stores here took down the Halloween decorations on Monday morning and the Christmas decorations were immediately rolled out complete with Christmas music. The retailers are in need of some stress relief. Santacruz Mining is poised to join the parade, I believe that silver investors are positioned for the biggest gains, we shall see. DT
Agreed DT. In a breakaway PM bull market, the Silver mining investors do typically get the biggest gains. We saw that yesterday in the lists above in the outperformance of the Silver mining stocks. They are more volatile to the upside and downside, there are less of them to pick from, and when investors pile in they can really move.
Yes, Santacruz Silver has does well, but it will eventually stretch it’s legs and be one of the better performers on the next major bull impulse leg higher, just like it did on the 2019 surge as the tiniest market cap Silver producer. With 3 operating mines now, decreasing costs, and increasing metals prices, it should have a fair bit of upside torque. Looking forward to SCZ joining the parade.
(AR) (ARNGF) Argonaut Gold Announces Third Quarter 2020 Operating and Financial Results Reporting
by @newswire on 5 Nov 2020
Pete Dougherty, President and CEO stated: “It was an extremely busy third quarter for the Company. We closed the Alio transaction, completed a C$126.5 million equity financing and entered into an agreement for the sale of the Ana Paula project. Subsequent to the end of the quarter, we completed a C$11.5 million flow-through financing to fund exploration at Magino for the next year, announced that we closed a convertible debenture financing for $57.5 million while expanding and extending our revolving credit facility to up to $125.0 million and are moving Magino towards construction early in 2021. After acquiring the Florida Canyon mine at the beginning of the third quarter, we have begun to implement modifications to the crushing and stacking circuit, which we expect will lower operating costs. We expect these modifications to be completed in the first half of 2021.”
https://ceo.ca/@newswire/argonaut-gold-announces-third-quarter-2020-operating
(SMT) (SMTS) Sierra Metals Announces Filing of NI 43-101 Technical Report on the Preliminary Economic Assessment to Double Output at Its Bolivar Mine in Mexico to 10,000 Tonnes Per Day
5 Nov 2020
https://ceo.ca/@businesswire/sierra-metals-announces-filing-of-ni-43-101-technical-07b0f
(ORX) (ORFDF) Orefinders Announces 14.3m of 4.18g/t Gold to Extend Tyranite at Depth, Discovers New Gold Mineralization Style
5 Nov 2020
https://ceo.ca/@newswire/orefinders-announces-143m-of-418gt-gold-to-extend
Thanks for the solid interview with Brien. Good stuff.
Overall it has been a positive day in the precious metals miners. My account is up about 9% on the day, so no complaints here.
Wishing everyone a prosperous day in the markets.