Most of mine did not recover. Without Emerita, I would have started and ended red.

My portfolio ended in the red today, down about 1.5%, but alas, I don’t own any Emerita.

As Matthew pointed out many miners did claw their ways back out of the hole a bit as I was down about 3.5-4% initially during the morning hours, so ending the day down 1.5% is much preferable.

Gold Panda just wrote very positively about Silvercorp on Seeking Alpha. I’ve been watching SVM for some time and continue to hesitate because of the Luckin Coffee effect. SVM appears to be a Chinese company but listed in Vancouver so gotta wonder about that, especially with most of their valuable assets located in PRC.

Worst June for gold since about 2013.

Hi Terry – I continue to have SVM Silvercorp as a solid holding in my portfolio, as the lowest cost of the silver producers by a large margin, and while they are a Canadian company mostly operating in China, they have expanded into South America by incubating (with a 28% stake the silver explorer NUAG New Pacific Metals in Bolivia, and a 19.9% stake in VG Volcanic Gold in Guatemala. They had already tried to take over Guyana Goldfields last year, but got outbid, pocketing the CAD $9 Million break fee instead (the easiest $9 million they’ve ever made). As a result, they have been putting more focus on diversifying outside of China, and also recently acquired the La Yesca Silver Project, Nayarit State, Mexico, for a North American acquisition.

However in addition to this new diversification into Bolivia, Guatemala, and Mexico, Silvercorp has also strengthened their breadth in China, extending their mining permits by 20 years with the blessing of the government, and winning a mine at government auction in China this year. That all bodes well for the future of Silvercorp, both in China, and abroad in the other countries they’ve expanded into.

Yeah Doc. It has been a bummer of a June in the PM space, but that is succeeding a nice move higher in April and May out of the $1673 March double bottom. Still the move down in June has been a drag on sentiment, and smacked back down some of the breakout moves Gold made in the prior month.

The miners have had another reasonable pullback in June as well, which I’ve been deploying funds into, but am running really low on spare dry powder at this point. I added to my Alamos Gold (AGI) and Excellon Resources (EXN) positions today for example. I added to my Fosterville South (FSX) and Cartier Resources (ECR) the end of last week. There are so many good opportunities to pick up stocks as they correct down here, and I’ve added to near 20 of them in June.

It remains to be seen if we have even more weakness to come into the Precious Metals sector for the month of July, and if Gold will find a new short-term bottom in the mid to low $1700’s and make a “higher low.” That would be fine with me, but if Gold goes down to retest that March double bottom at $1673-$1675, then I’d really want to see that level of support hold. A break below that level would inflict more serious chart damage, and tank sentiment even lower than it already is, so I’m more optimistic that we’ll see the low put in soon in the mid-low$1700’s, and then start the next leg higher from that new higher low.