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John Feneck – The Current Set Up In The Precious Metals Mining Stocks

John Feneck, owner of Feneck Consulting, and publisher of the Feneck Commodities Report, joins us today to discuss how he is trading the current precious metals mining stocks.  We discuss the recent bounce in the gold miners along with some of the encouraging recent developments in the sector. Next we discuss how he is navigating the current macroeconomic environment and how the precious metals may react to Fed policy. We then transition over to investing in the mining stocks, and John shares some of the gold, palladium, and royalty stocks that he is bullish on at current valuations.

 

Stocks mentioned in today’s interview:

Newmont Corp (NGT.TO) (NEM)

Calibre Mining (CXB.TO) (CXBMF)

Fiore Gold (F.V) (FIOGF)

Agnico Eagle (AEM.TO) (AEM)

Kirkland Lake (KL.TO) (KL)

Gold Terra (YGT.V) (YGTFF)*

Canadian Palladium (BULL.CN) (DCNNF)

Clean Air Metals (AIR.V) (CLRMF)*

B2Gold  Corp (BTO.TO) (BTG)

IAMGOLD Corp (IMG.TO) (IAG)

FPX Nickel (FPX.V) (FPOCF)*

Vox Royalty (VOX.V) (VOXCF)*

Sailfish Royalty (FISH.V) (SROYF)

 

*Guests featured herein may have been compensated for their services in working with some of the companies mentioned. In this edition, that would apply to Gold Terra, Clean Air Metals, FPX Nickel and Vox Royalty.

https://www.feneckconsulting.com/

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If investors want to reach out to John regarding his services his email is john.feneck@yahoo.com.

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Everyone can also reach out to us at either Fleck@kereport.com or Shad@kereport.com

Discussion
62 Comments
    Oct 28, 2021 28:09 AM

    (NGT.TO) (NEM) Newmont Announces Third Quarter 2021 Results
    – 28 Oct 2021
    .
    https://ceo.ca/@businesswire/newmont-announces-third-quarter-2021-results

    Oct 28, 2021 28:13 AM

    David Erfle Discusses the Calibre (CXB.TO) – Fiore (F.V) Acquisition and Tax Loss Selling
    .
    Mining Stock Daily w/ Trevor Hall- 10/26/2021
    .
    “Junior Miner Junky, David Erfle, joined us to discuss his thoughts on the acquisition of Fiore Gold by Calibre Mining. We also chat about the current uptrend in precious metals and some individual junior explorers. David also has some thoughts about the status of 2021 tax loss selling.”
    .
    https://podcasts.apple.com/us/podcast/david-erfle-discusses-the-calibre-fiore-acquisition/id1418050443?i=1000539799058

    Oct 28, 2021 28:20 AM

    (FPX.V) (FPOCF) FPX Nickel – Initial drill results from the Van Target yielding the 8th best near-surface result to date
    .
    Korelin Economics Report – October 21, 2021
    .
    “Martin Turenne, President and CEO of FPX Nickel joins us to discuss the initial drill results from the Van Target on the Decar Nickel District Project, in central BC.”
    .

    “The first two holes, released on October 19th confirm this new discovery. One of the holes hit the 8th highest near-surface mineralization to date on the whole property. We discuss the potential importance of this discovery to the overall project combined with the well defined Baptiste Deposit.”
    .
    http://www.kereport.com/2021/10/21/fpx-nickel-initial-drill-results-from-the-van-target-yielding-the-8th-best-near-surface-result-to-date/

    Oct 28, 2021 28:22 AM

    (VOX.V) (VOXCF) Vox Royalty – A 5th Producing Royalty Asset And Other Key Operational Partner Updates
    .
    Korelin Economics Report – October 20, 2021
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    “Spencer Cole, Executive VP at Vox Royalty, joins us to recap the news released this morning highlighting some key operational partner updates in the Company’s royalty portfolio. First we discuss the move by Thor Explorations into commercial production at their Segilola gold mine in Nigeria, taking VOX up to 5 producing royalties, out of 54 total royalties. Next we review the work that Jangada is doing to prepare a Feasibility study for Q4 on their Pitombeiras vanadium-iron ore project. We also unpack the high-grade exploration results that Kalamazoo recently put out on their Ashburton project and how that project is moving along in development. We wrap with some general comments about the strength of the royalty business model.”
    .
    http://www.kereport.com/2021/10/20/vox-royalty-a-5th-producing-royalty-asset-and-other-key-operational-partner-updates/

    Oct 28, 2021 28:26 AM

    B2Gold Agrees to Sell Burkina Faso Projects to West African Resources
    – 25 Oct 2021
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    “B2Gold Corp. (TSX: BTO) (NYSE: BTG) is pleased to announce that it has entered into a binding agreement with West African Resources Limited (ASX:WAF) dated October 25, 2021, pursuant to which B2Gold has agreed to sell to WAF 100% of the issued and outstanding shares of Volta Resources Inc., the holder of an 81% interest in the Kiaka gold project located in Burkina Faso.”
    .
    https://ceo.ca/@newswire/b2gold-agrees-to-sell-burkina-faso-projects-to-west

      Oct 28, 2021 28:30 AM

      Aurion’s JV Partner, B2Gold, Drills New Discovery in First holes Along Kutuvuoma-Ikkari Corridor
      – 25 Oct 2021, 04:00
      .
      “Aurion Resources Ltd. (TSXV: AU) (OTCQX: AIRRF) reports results from an ongoing exploration program on the Aurion-B2Gold Corp. (TSX: BTO) (NYSE: BTG) Joint Venture (JV) in the Central Lapland Greenstone Belt in northern Finland.”
      .
      Broad zones of gold mineralization, starting near surface, discovered along Kutuvuoma-Ikkari corridor
      – 1.84 g/t Au over 52.4 m from 85.3 m
      – 1.42 g/t Au over 30.6 m from 34.2 m
      – Geological sequence similar to Rupert Resources’ 3.95 Moz Ikkari Discovery
      – Located 1.3 km along strike to the west of Ikkari
      .
      https://ceo.ca/@newswire/aurions-jv-partner-b2gold-drills-new-discovery-in

    Oct 28, 2021 28:40 AM

    This Is When Risk-On Returns
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    By Monica Kingsley / October 28, 2021
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    “Uneventful S&P 500 session, seemingly – and then the selling came. 4,550 barely held and the bond markets aren‘t looking favorable to the bulls. Ultimately, Treasury traders had the last word, snuffing hitherto positively mediocre HYG performance. The dollar didn‘t move much, and as I summed up in the intraday update, risk-off reigned supreme across many assets.”
    .
    “The prior mentioned 15 level in VIX held, and we‘re treated to higher volatility now – breaking the 4,550s on a negative earnings surprise (expectations as to forward guidance are quite high, and yesterday‘s selling driven presumably by instituitional players doesn‘t bode well), wouldn‘t be unimaginable – so, I took open long profits off the table.”
    .
    “I would like to see yields increasing again, and the yield curve not to be flattening anymore – positive sign thereof would be commodities rising again together with a fresh upswing in inflation expectations after the prior two down days. Such a move would also exert pressure on the dollar, and the high beta stock market sectors with commodities and precious metals would spring to life again.”
    .
    “All in all, it looks like we‘re undergoing a soft patch, squaring of bullish bets before the coming Fed Wednesday. Would taper though mark the end of the commodity or precious metals superbull? Hardly. Remember that fresh money isn‘t needed to repair banks‘ balance sheets now, but flows directly into financial markets that are still most attentive to the money spigot.”
    .
    “Gold buyers timidly stepped in, and an upswing in the miners to confirm, is what we‘re waiting for. Lower yields are here, and a fresh commodities upleg (focus is on the copper turn), would help as much as a fresh dollar setback.”
    .
    https://monicakingsley.co/stock-trading-signals/2021/10/28/this-is-when-risk-on-returns/

    Oct 28, 2021 28:44 AM

    (GSVR)(GSVRF) Guanajuato Completes First Sale of Precious Metals Concentrate, Accesses US$1.5m from Ocean Partners Facility
    – 28 Oct 2021
    .
    https://ceo.ca/@accesswire/gsilver-completes-first-sale-of-precious-metals-concentrate

    Oct 28, 2021 28:56 AM

    doc, so far so good with your steady eddy view on metals. Major sinkholes with majors like nem, aem etc on earnings in spite of all the happy talk on drilling results, blah blah.
    Meanwhile virtually everything else in spx to the moon.
    November will indeed tell the tale. Congrats

      Oct 28, 2021 28:03 AM

      Right at the lows Doc thought we should do nothing for the next 4 months to avoid catching a falling knife. At every major low for years he has said that lower prices were coming. For example, on the exact day that GDX bottomed in 2018, he said that a bounce is not going to come in the near future. GDX then went up 4% the next day and was up 9% in a week. Then, several weeks later with the 2018 low 4 months behind us and gold $70-$80 below, he thought gold was going to pull back $40-$50 but it immediately went higher instead.
      https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&st=2018-06-05&en=2020-02-15&id=p35519235886&a=637766494

        Oct 28, 2021 28:07 AM

        It was more of the same in January 2019 and again at the major low in May, 2019…
        https://stockcharts.com/h-sc/ui?s=GDX&p=D&st=2018-06-22&en=2019-10-16&id=p24227329344&a=646023230

        Oct 28, 2021 28:56 PM

        Matthew, you’re full of it. If you go back 2 – 3 weeks ago on this site I mentioned that we could expect a bounce in the miners the next week which we then saw. I know you have a problem with my accuracy on the long trend of these markets but you should know that bear markets do have relief rallies.

          Oct 28, 2021 28:28 PM

          That’s dishonest just like the time you pretended you nailed the May 2019 bottom a few months after the fact.
          If you said we could expect a bounce 2-3 weeks ago, you did so after it was well underway. What help is that? The fact is, you said the following AT THE LOW…

          “It should be the new year before anyone ought to get excited about the PM markets. Take the winter off and hibernate—-do a 90,000 piece picture puzzle or stare at your navel for 4 months—–it’ll save you some angst and prevent you from catching that still falling knife.”

          https://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=0&mn=11&dy=0&id=p55747485886&a=1051777637

          Those who took you up on your suggestion to “take the winter off and hibernate” wouldn’t even know about the action since the low much less any comments you made afterward.

            Oct 28, 2021 28:30 PM
            Oct 28, 2021 28:29 PM

            RICHARD/DOC
            Oct 08, 2021 08:28 PM

            Another week has ended and “hope springs eternal” but we are in the fall and the conventional market is looking precarious and it appears rates may escape the Fed’s manipulation. The employment news was not good and this economy could be slowing faster then anticipated. The PMs may see a short term rally but nothing of significance before the end of the year. There is more work to be accomplished before we see the bull market resurrecting itself. But the good news is that we’re another week closer to that possibility.

            Oct 28, 2021 28:36 PM

            If you looked at your navel and took 4 months off when I warned about a top months ago you wouldn’t be in 100% and bleeding dollars. Also, you would have some capital to invest at these nice low levels—also, you might go back to my commentary on June 12, 2019 with Cory when I said I was getting bullish for the first time (since you seem to hang on my every word and conveniently don’t when I’m correct) and the very next week the PMs took off. You should really start to address your insecurities. This will be the first and last time I respond to you (except maybe for that commentary which you should have.)

            Oct 28, 2021 28:19 PM

            Had I listened to you, I would have missed my massive gains of 2016 and every opportunity since. Don’t forget that you were as bullish and confident as anyone on the eve of the 2013 crash and have never been so bullish since. As for your assumptions about the year I’ve had, I trade all the time so you have no clue. Furthermore, the fact that you couldn’t make heads or tails of the March low shows that trading actively isn’t an option for you.

            You owned one explorer 3 days after you shorted the miners yet later spoke of the success you had with multiple companies. If those successes were true, then you paid way up for the opportunities.
            https://stockcharts.com/h-sc/ui?s=GOEX&p=D&st=2015-01-15&id=p39049045046&a=583497451

            I’ll address my insecurities when you address your dishonesty.

          Oct 28, 2021 28:57 PM

          In the two years following the 2018 low, gold doubled while the XAU went up 175% (IPT went up 545%) yet you never turned clearly bullish in a timely manner if at all. It was the same for the massive move of 2016 when GDX doubled and SILJ nearly quadrupled after you reported shorting the miners.
          https://stockcharts.com/h-sc/ui?s=GDX&p=D&st=2015-09-11&en=2016-09-10&id=p9206593545c&a=639765536

            Oct 28, 2021 28:12 PM

            Hey Matthew…I see how you are making decision points…It makes more sense to me that using words to describe vagueness…too lie…This is a nice preper on Wykoff supply/demand thinking…Amazon has plenty of reputable authors regarding the Wykoff method…It gives you an other really important tool/edge….much more than just tape reading although it did emerge from that……annnd I would like another opinion on the topic…Since I use it along w the technicals and chart patters…It will fluctuate in the rally mode before the bottom then a buy is near until the next top…But the monthly Bolinger Bands are saying hold on for a few months or so at least…. but usually after the next seasonal venus -mars retrograde….meanwhile why not meditate on your navel?…toot toot……very clear to me?..lmao

            https://www.girolamoaloe.com/wyckoff-trading-method/

            I actually do know what you are saying at all times Matthew…Kapisch?🤔🔊💩🍔

            Oct 28, 2021 28:24 PM

            Thanks Larry, I’ll take a look. I suppose I should also watch his videos at Kitco.

            Oct 28, 2021 28:34 PM

            WOW…You get that,right?…The Kitco guy is like his great/great grandson…Wykoff the first was in the late 1800’s early 1900’s…I had no idea of all this…Very much more interesting now…tanks Matthew…

      Oct 28, 2021 28:16 PM

      Jonsyl, thank you for the gracious comment. The move this month has kind of “petered” out. We could see some more gradual movement up in early November but people better again be very careful here. I’ll have a commentary with Cory/Shad on Monday to share my thoughts going forward. With this move higher I just sold a couple of stocks I “nibbled” at low prices that had nice moves higher. I often don’t do that but I’ll buy them back again when they fall back again. I’m not a trader but try to have people that are investors know what I think about the longer trends. Hopefully, I was able to have some people consider their PM positions way back in August/September when I warned them that we were probably peaking and would in all likelihood “grind lower” for weeks to months.

        Oct 28, 2021 28:32 PM

        Larry, thanks for the info on the Wyckoff Method—I was unaware of this but am impressed–I guess I’ve been doing some of this intuitively over the years—it makes a whole lot of sense—-thanks for bringing it to my attention. Doc.

          Oct 28, 2021 28:18 PM

          information is still a freedom i enjoy…including health freedom from the corrupt dishonest money centered Rockefeller medical health collapse cartel….for now…..you are truly a scholar and a gentleman……enjoy your money doc…

          oh, chelation therapy treats all forms of heart ailments and obviates the needed to spaz a patient around for decades on pharma pills that prematurely ages them, then requires heart surgery etc….by using vague misinformation and disinformation as in trading…lmao……but you are scared and concerned regarding chelation but not the death pills…so you still need to work off your brainwashing doc….a truman show life is artificial…i will pray for you and your past patients …..glta

          ivermectin was blocked for same reason as chelation…it heals/hurts bizz…you were a salesman…just like here on site with all your charts…..at least man up now and here and denote your targets and your support resistance and exact day minute entries….

            Oct 29, 2021 29:11 AM

            THANKS LARRY…………..for the two articles on Wykoff…….

        Oct 28, 2021 28:38 PM

        Hey Doc – Yes, I’m looking forward to our chat on Monday and getting your take on the technical set up in the precious metals and miners. Cheers!

    BDC
    Oct 28, 2021 28:14 AM

    PM Price Quality: https://tinyurl.com/2vc9pznu
    October 22nd Swing Top finally confirmed.

      Oct 28, 2021 28:31 AM

      No vote of confidence with the majors like nem but still a chance BTC of a greater hook at that former 1820/1840 level.

        BDC
        Oct 28, 2021 28:17 AM

        About 95% certain (never 100%).

        Oct 28, 2021 28:42 PM

        Jonsyl, that NEM report was not good—also, the reaction of investors to CDE’s recent quarterly report was also not good although when you break it down, it probably is an over-reaction. Since I sold CDE close to its’ top, I’ve been patiently waiting to repurchase it. The chance may come soon based on the negative response to its’ report. If NEM continues to break lower, it will probably not portend well for the sector.

    Oct 28, 2021 28:32 AM

    (IAU) (IAUCF) i-80 Gold Intersects High-Grade Gold in Underground Drilling at Granite Creek
    – Including 41.3 g/t Au over 7.1 m & 16.0 g/t Au over 7.3 m
    October 28, 2021
    .
    https://www.i80gold.com/wp-content/uploads/2021/10/October-28-2021-Granite-Creek-Final-1.pdf

    Oct 28, 2021 28:47 AM

    GDX day…At 32.48 is the OUL level plus 14ema and are offering support opportunity…..the down-trending channel should stop this price erosion if a new uptrend is in place///Price is below Wykoff ice at 33.08 but on light volume…So if long still no action is required…I took my self out at the TD9 count area…then small long and finally small short position…using 30 minute and less patterns to allow me to re-enter or just control the dust short……glta

    https://tos.mx/rZ6DBc2

    Oct 28, 2021 28:04 AM

    dxy taking a hit, us dollar drop which should give at least a tempoary support for gold

    Oct 28, 2021 28:07 AM

    Emerita on the move again…

      Oct 28, 2021 28:05 PM

      Understatement…

        BDC
        Oct 28, 2021 28:29 PM

        Beautiful run. May be topping.

    Oct 28, 2021 28:51 AM

    It’s impressive how GDXJ vs UUP continues to hold up after gaining almost 24% in 3 weeks…
    https://stockcharts.com/h-sc/ui?s=GDXJ%3AUUP&p=D&yr=1&mn=1&dy=0&id=p21905976661&a=1049666078

      Oct 28, 2021 28:05 AM

      You have been right on target. It gave me confidence to follow the fork in the road.

    Joe
    Oct 28, 2021 28:37 PM

    The shot across the bow, NEM’s awful, dreadful earnings report…. how many will pay heed to this?
    https://finance.yahoo.com/news/gold-miner-newmont-cuts-guidance-121644319.html

    “The Denver-based company churned out less bullion and profit than expected last quarter. In a report Thursday, it also lowered annual output guidance while raising its projection for costs.”

    Those first 2 sentences say it all.
    The gold price has NOTHING going for it, the next downturn in the POG will see miners get CRUSHED.
    If you haven’t sold out now, they you’ll be doing it when your metals and miners are at much lower levels over the next couple of months.
    Enjoy your tax loss selling.

      Oct 28, 2021 28:39 PM

      easy Joe, just bought some hail mary calls on Nem and Aem

      Oct 28, 2021 28:28 PM

      Joe, you have a lot of justification for feeling bearish on the PMs—however, this little move higher by the miners is starting (and note, I said “starting”) to signal a bottoming process for the miners and the formation technically on the weekly and monthly charts of trading ranges for a lot of the stocks.

    Oct 28, 2021 28:51 PM

    gold set to close at 1799.99. LOL

    Oct 28, 2021 28:02 PM

    GDXJ fell precisely to a 60 minute chart pivot which is 1 cent above last Friday’s close; so I bought. It finished 17 cents above that level. I also bought some Hecla and something else.
    https://stockcharts.com/h-sc/ui?s=HL&p=D&yr=0&mn=7&dy=0&id=p88144432484

      Oct 28, 2021 28:00 PM

      claiming victory with each pop up followed by successive lower lows for more than year isn’t exactly nirvana. This current pop up included which has yet to recover september. Eventually one of these will do it, it always does. For now the majority of producers, in particular the majors aem, abx, nem are in a deep hole hovering around their August 20 lows. All of which had bounces down the sllippery slope of hope.
      In the meantime, the much maligned spx rally keeps climbing the wall of worry, and the end of the world. while the gold bucks keep bottom fishing.

        Oct 28, 2021 28:38 PM

        Sheeple are something else. I drop a tiny bit of info for transparency to whom it may concern and “FWIW” and you think I’m claiming victory? I did nothing of the kind and the trade could damn well go against me first thing in the morning. Some here might like to know how aggressive my trades can be as it could help them to decide what they think about the rest of my comments. To be clear, today’s purchases were far from ideal setups but I took them anyway and will bail if necessary.
        I guess you’ll congratulate me if I follow Doc’s lead and tell you after the fact about the sales I made at the top.

          Oct 28, 2021 28:46 PM

          Well, I guess that was a left handed compliment but I’ll take it anyway—Matthew, you should do more of that—thanks, anyway.

            Oct 28, 2021 28:55 PM

            Doc, that was the opposite of a compliment. You’ve never called a top here as one is occurring yet somehow you’ve sold them all — in hindsight.

            Oct 28, 2021 28:15 PM

            I guess I might not have called the top of the last one a nano second after it happened so you could still call it “hindsight”. But thanks for taking my advice anyway.

            Oct 28, 2021 28:43 PM

            I don’t know what you think you’re reading but I did not take your advice and never have.

          Oct 28, 2021 28:43 PM

          oh when all logic evaporates, then back to grade school defences, “the sheeple”. text book.
          Not referring to a claim of victory with your today purchases. These may in fact be at THE BOTTOM and you will forever be reveered.
          It’s the victory laps taken with each failed pop up rally followed by successsive lower bottoms

            Oct 28, 2021 28:36 PM

            The logic deficit is all yours if you think I was in any way referring to today’s buying for any of the reasons that you imagine. Common sense should tell you that even if you don’t have a clue about charts. I chose the “grade school” sheeple for obvious reasons but I won’t spell it out since that would get my comment deleted.
            We’ve seen the lows for the correction that began over a year ago. Were you not clear that that was my position? I leave myself nothing to hide behind when I give my opinions yet I’m the one you have a problem with, not certain other mealy-mouthed commentators who never call a high or a low yet pretend they’ve been right all along. Sideways to down, buddy! 🤪

    BDC
    Oct 28, 2021 28:21 PM

    Dollar Update: https://tinyurl.com/23tdc8jy
    Critical support at 93.36 (20211029.1715).

      BDC
      Oct 29, 2021 29:37 AM

      Boutros nailed it … now 94.14.
      (20211030.1135)

    Oct 28, 2021 28:45 PM

    Just me, but it appears the powers that be are trying to force electronic currencies on us and their worst nightmare is Precious Metals. Same algo treatment everyday.

      Oct 28, 2021 28:17 PM

      L2 the last thing of any concern, threat or interest right now with anyone but gold bugs is the gold market. And at a time of ever ballooning deficits and cheap money.

    Oct 29, 2021 29:12 AM

    day gdx…green arrow is at current price pre-market…you see it is on the 50ema but above solid support at the top of the TAS profile around 31.60(horizontal dashed blue)……i put in a normal stop out for today…ATR x 1.618 less yesterday close…it is wide….if price ranges wider it is real probs for what ever reason …my 2…glta

    https://tos.mx/ApKrY65