Hour 1 – Extended Interviews with Rick Bensignor, Adrian Day, and SilverCrest Metals

April 25, 2020

The attention this week shifted to the oil sector as crude oil dropped into negative territory. We also had GDX breakout to a 7 year high and the USD remain over 100. Lot to discuss on this weekend’s show!

Keep emailing me at I love hearing form all of you. I also really appreciate everyone who tuned in the webinars this week. Next week I am featuring IsoEnergy, a Uranium exploration company that is drilling possibly the best new Uranium discovery in the sector. Click here to sign up and have first access to the live event and recording.

I hope you all enjoy this week’s show! The segments are a bit longer but there is a lot of good information in each interview.

  • Segment 1 and 2 – Rick Bensignor, Founder of Bensignor Investment Strategies joins me to focus on a wide range of sectors. We start with oil, move to the US markets, then chat gold, GDX and the USD.
  • Segment 3 – Adrian Day, President of Adrian Day Asset Management focuses on the precious metals sector. We look at gold and silver individually then drive down to the stocks and where Adrian sees the best opportunities.
  • Segment 4 – SilverCrest Metals (TSX:SIL & NYSE:SILV) just raised C$127 million and has a market cap of just over C$1billion. Chris Ritchie, President of SilverCrest me to discuss the valuation of the Company and the plans for future production. Click here to visit the SilverCrest website.

Exclusive Company Interviews and Webinars This Week

Rick Bensignor
Adrian Day
SilverCrest Metals – Chris Ritchie
    Apr 25, 2020 25:20 AM

    Posted at 321 Gold – must read – Covid-19: What They Don’t Tell You –

    How did they know to prepare for the outbreak of a virus that wasn’t known to exist, and simulate its spread and response? All sources are linked. “A patent is an exclusive right granted by a country to an inventor, allowing the inventor to exclude others from making, using or selling his or her invention.” That’s right, major corporations are actually inventing viruses, and selling the resulting vaccines to you for profit, backed by Government.

    Apr 25, 2020 25:20 AM

    REALIST NEWS – The Data Is In… Stop The Panic & End The Total Isolation

      Apr 25, 2020 25:30 AM

      LMAO………TOLD YA………..90% of all case in NY…has another illness……WAKE UP SHEEP

        Apr 25, 2020 25:31 AM

        cases….had…………Scam and Hoax……

          Apr 25, 2020 25:33 AM

          Feb 22……..was your wake up call on the KER…..thank you very much…. 🙂

            Apr 25, 2020 25:40 AM
            Apr 25, 2020 25:07 AM

            I think we have covered some of this before…..good read….321….

            Apr 25, 2020 25:15 PM

            That’s a great piece OOTB. I had posted it on the other weekend blog, but just now saw you posted it here. Definitely dropped a few truth bombs.


            What’s Collapsing Can’t Be Saved: Our Fraudulent Economy

            April 22, 2020 – Of Two Minds

            “It’s extraordinarily costly to maintain such a demanding masquerade. The psychological toll is immense, and the financial ruin that’s always threatening to collapse the flimsy facade feeds the most destructive coping strategies.”

            “The entire stock market rally of the past 20 years is nothing but a gigantic fraud based on stock buybacks funded by debt. Stocks go up because the majority owners of the stock borrow money from a banking sector that gives nearly free money to financiers and corporations. The corporate insiders buy back shares with the borrowed money, and the company services the loan.”

            “The company’s income is devoted to paying the debt taken on to boost the personal wealth of insiders. That’s fraud. Or if you prefer, embezzlement.”

            “Take away the stock buyback scam and the U.S. stock market collapses. Take away a Federal Reserve devoted to lavishing nearly free money on financiers and corporations and the buyback scam collapses”


      Apr 25, 2020 25:11 AM

      My mother lived to 100. I am closing in on 80. Age seems to be a “defect” under various scenarios. Should I disregard precautions as I have a genetic expectation to live many years longer or should I be more cautious. If I am vulnerable, will carriers of the disease also recognize the concerns the “vulnerable” have, and join in taking precautions, or should the “vulnerable” accept they are just canon fodder and their days are numbered whether the disease is a hoax or not. As in Monty Python: “Bring Out Your Dead”.

        Apr 25, 2020 25:16 AM

        Stay out of the nursing home and you will be fine……stay out of the hospital and you will be fine.

          Apr 25, 2020 25:20 AM

          Then there’s sickcare, Corporate America’s rip-off skimming operation masquerading as “healthcare.” Caring has nothing to do with it; the driver is greed, maximizing profits by establishing corrupt relationships with politicos and regulators to insure staggering sums of federal monies are sluiced into sickcare’s insatiable maw.

            Apr 25, 2020 25:21 AM

            From the article……

        Apr 25, 2020 25:31 AM

        Listen to Jerry and you will be fine. Your current health is more important than your age. Don’t believe all the hype.

          Apr 25, 2020 25:51 AM

          Well, thank you….. 🙂

        Apr 25, 2020 25:22 AM

        David, you should watch the ER doctors’ press conference that I posted yesterday if you haven’t already.
        The vulnerable succumb to the flu by the thousands every year and covid-19 is no worse. As the docs point out, it’s not “just” the flu, it’s the flu. At-risk people should take precautions every year and this year is no different, despite the politically motivated efforts of some elite dirtballs to make you think otherwise.
        Part 1:

        Apr 25, 2020 25:14 PM

        I have covered the best way to boost the immune system over the past few weeks, as information about the virus became available. Ignore some of the ignorant statements on this page by some people.
        It seems important not to get a heavy or large initial viral lode, to allow your immune system to cope…..A face mask can help in that regard.

        To have a good immune system.Vitamin C and Vitamin D are important as is sleep.
        To reduce replication rate of the virus in the body, Zinc and an good level of ionophore is important. Hydroxychloroquine is an ionophore, but quercetin is too. (Found in capers, red onions, also to lesser extent in other onions, red grapes, red wine and most fruit.
        So if you eat a good diet and go out in the sun (vitamin D) the only real addition you should probably take is vitamin C. (Best take at least 1000 miligrams per day taken throughout the day. I take 2 grams of liposomal Vitamin C. (Four capsules of 500mg)
        The only other herbal medication specifically proven effective against the covid-19 virus is white birch Chaga mushroom, which was used in Wuhan, this is a powerful anti-oxidant/ immune booster.
        Whilw covid-198 has many flu-like symptoms and is dealt with in the body much like the flu virus, it is not the flu virus, and long term effects are not yet known.

          Apr 25, 2020 25:19 PM

          ” Ignore some of the ignorant statements on this page by some people.”

          And who would that be?

    Apr 25, 2020 25:50 AM
    Apr 25, 2020 25:29 AM

    We are at the end of an economic era. The stock market is being infused with all sorts of financial aid that is totally unprecedented. People/Investors are a very stubborn lot. They expect the tide to turn someday and they want to be there when it happens. I expect quite a number of them are also buying into this supposed rally that exists in their mind. Now the reaction to the action of the stock market crash will be very hard for them to accept. DT

    Apr 25, 2020 25:23 AM

    Gold heads for weekly gain despite investors cashing out Editor | April 24, 2020

    “Gold price fell on Friday morning as investors took profits from gains earlier this week, but it is still on track for its third weekly rise this month.”

    However, investors could be “looking for anything to take profit,” says Phil Streible, chief market strategist for Blue Line Futures LLC.

    “I just don’t see the economic backdrop having any kind of stability at all. I think this might have been someone blowing out and calling it an early weekend.”

      Apr 25, 2020 25:27 AM

      Gold price is ready for $1,800: Markets are watching these two events next week

      Anna Golubova – Friday April 24, 2020

      “It seems like every time we have a bit of a correction to the downside, the buying emerges. Buying the dips on gold seems to be the strategy for now,” ED&F Man Capital Markets analyst Edward Meir told Kitco News Friday.

      Gold has been seeing increased investor interest as a safe-haven asset as the COVID-19 outbreak is continuing to weigh on the global economic outlook.

      “We’ll continue to trade strong in gold, especially after this recent sell-off we had Friday. I think we’ll be higher next week. The main drivers really haven’t changed,” said TD Securities commodity strategist Ryan McKay.

      “We’ve seen unprecedented QE and fiscal stimulus globally continue to bring rates lower. We’re seeing a little bit of recovery in energy markets, which are starting to see the inflation recover slightly, which brings real rates lower. That is the main investment thesis for gold,” McKay noted.

        Apr 25, 2020 25:29 AM

        Since Inception the Euro Has Devalued by 85% Against Gold

        Jan Nieuwenhuijs – 24.04.2020

        “On April 23, 2020, the gold price breached €51,000 euros per Kg for the first time in history. The gold price in euros has increased by 555% since the euro was created in 1999. Put differently, since inception the euro lost 85% of its value against gold. ”

          Apr 25, 2020 25:49 AM

          Fibonacci Price Amplitude Arcs Predict Big Gold Breakout

          The Technical Traders – Chris Vermeulen – April 25, 2020

          “Precious metals have become the focus of many researchers and traders recently. Bank of America recently raised its target to $3000 for gold (source: In December 2019, we published a research article suggesting precious metals were setting up a long-term pattern that should result in a big breakout to the upside for gold. Every trader must understand the consequences and market dynamics that may take place if Gold rallies above $2500 over the next few months.”

          “This Daily Gold chart highlights our proprietary Fibonacci/Tesla Price Amplitude Arcs and our Adaptive Fibonacci Price Modeling system. Although the chart may be a bit complicated to understand, pay attention to the GREEN ARC with the MAGENTA HIGHLIGHT near current price levels. This is a key price resistance arc that is about to be broken/breached. Once this level is breached with a new upside price advance, the $2100 price level becomes the immediate upside price target.”

          Apr 25, 2020 25:50 AM

          Fibonacci Price Amplitude Arcs Predict Big Gold Breakout

          The Technical Traders – Chris Vermeulen – April 25, 2020

          “Precious metals have become the focus of many researchers and traders recently. Bank of America recently raised its target to $3000 for gold. In December 2019, we published a research article suggesting precious metals were setting up a long-term pattern that should result in a big breakout to the upside for gold. Every trader must understand the consequences and market dynamics that may take place if Gold rallies above $2500 over the next few months.”

          “This Daily Gold chart highlights our proprietary Fibonacci/Tesla Price Amplitude Arcs and our Adaptive Fibonacci Price Modeling system. Although the chart may be a bit complicated to understand, pay attention to the GREEN ARC with the MAGENTA HIGHLIGHT near current price levels. This is a key price resistance arc that is about to be broken/breached. Once this level is breached with a new upside price advance, the $2100 price level becomes the immediate upside price target.”

      Apr 25, 2020 25:29 AM

      Spot gold fell as much as 1.2% on Friday’s trading after rising 0.8% earlier in the day. It has since settled at $1,719.89/oz as of 1:45 pm EST, on pace for a weekly gain of 2.1%.

        Apr 25, 2020 25:29 AM

        I will take 2% a week…….. :)…….Yearly 33%…

          Apr 25, 2020 25:34 AM

          As will I OOTB. Great point.

          The yellow metal continues to ratchet higher for the most part continuing on the Gold bull market that started when Gold bottomed at $1045.40 in Dec 2015.

          The movement higher with Gold futures closing on Friday at $1745.65 is a very respectable level, and likely heading much higher over the medium to longer term.

          I wonder if any producers can make money at $1745 Gold? 🙂 😉

            Apr 25, 2020 25:52 AM

            That old number of $1048…..sticks out in my mind…..I have to laugh at the moron now..

            Apr 25, 2020 25:55 AM

            The entire fraud……has been written before in history…..just takes time to unfold…

            Apr 25, 2020 25:57 AM

            I have to thank my Western Civ professor in college….one statement she said….THE US, is just like Rome… clippers…. lol

            Apr 25, 2020 25:47 AM

            OOTB – Of course the United States of America is the “New Rome” on multiple levels.


            Roman ideas, heritage and symbolism in the USA
            By Areg Kochinyan -June 24, 2017

            “Perhaps the most obvious example of this lies in the Supreme Court building. Cas Gilbert’s design draws its inspiration from Roman temples. The staircase, raised podium and the columns would not be out of place in the Roman Republic. ”
            “Similarly, the white marble on the Supreme Court and throughout Washington, D.C., was consciously selected to mimic the architectural splendor of ancient Rome.”

            “The Capitol, White House, Thomas Jefferson’s memorial were loosely based on the Roman Architecture.”

            “The same logic works not only in architecture but also in arts and symbols of the time of young American republic:”

            “The Founders’ sculpture and painting were also inspired by Roman precedents. It is not unusual to see them adorned in a toga.”

            The Roman Eagle was transformed into the great seal of the USA.

            “The US Capital is identified even with Rome’s geography. In Washington, D.C., Capitol Hill (formerly called Jenkins Hill) alludes to one of the Seven Hills of Rome. ”

            “Almost all political and law terminology was also copied from the Latin roots.”

            “At the end another aspect should be mentioned – the Law. After the fall of Rome, the US became the first state to be fully led by laws.”


            Apr 25, 2020 25:49 AM

            Is America the New Rome? – United States vs. the Roman Empire

            Money Crashers – Michael Lewis


            Apr 25, 2020 25:50 AM

            Fasces (think Fascism)

            “The bronze fasces, representing a classical Roman symbol of civic authority, are located on both sides of the U.S. flag. The original Roman fasces consisted of an axe within a bundle of rods, bound together by a red strap. Over time, the fasces came to represent the ideal of American democracy: like the thin rods bound together, the small individual state achieve their strength and stability though their union under the federal government.”


            Apr 25, 2020 25:56 AM

            Secret Symbol of the Lincoln Memorial

            > What do fasces represent?

            “In ancient times, fasces were a Roman symbol of power and authority, a bundle of wooden rods and an axe bound together by leather thongs. Fasces represented that a man held imperium, or executive authority. Exercising imperium, a Roman leader could expect his orders to be obeyed, could dole out punishment, and could even execute those who disobeyed. The fasces he carried symbolized this power in two ways: the rods suggest punishment by beating, the axe suggests beheading. On its surface, the fasces imply power, strength, authority, and justice.”

            >> Fasces on the Lincoln Memorial Exterior

            “As one approaches the Lincoln Memorial from the plaza below, he or she passes by the first of these fasces at the base of the main stairs. The carving is easily missed even though it is more than ten feet tall, but to miss it is to miss the introduction to the theme of the memorial. On the end of the wall is a carving of rods with an axe bound by a leather thong, the classic Roman fasces. The fasces indicate the power and authority of the state over the citizens, commanding respect.”


    Apr 25, 2020 25:23 AM

    Sure circumstances are changing for companies, but shares represent ownership.
    Some companies are over-valued, but some are under-valued.
    Shares in the US are expressed in dollars. With massive printing of dollars, normal economics would imply price inflation/dollar loss of purchasing power. Offline retail companies may suffer significant loss of sales due to self-isolation, but online retails may well be seeing an increase in sales.
    Import/export and travel companies may be bleeding, but small manufacturing companies in the US, not dependent on foreign production, may well be doing booming business once the quarantine is lifted. A stock market “crash” is painting by too broad a brush. It, of course, depends on how quickly this shut-down ends, but I think it will end much faster than so-called guru’s are predicting.

    Apr 25, 2020 25:33 AM

    Stock market is a joke……….scam from the insiders and fed money machine… duh

      Apr 25, 2020 25:28 AM

      I will qualify……not the PM sector…. 🙂

      Apr 25, 2020 25:44 PM

      Icahn Says Stocks Are Overvalued, Virus May Cause ‘Downdrafts’

      Bloomberg – Erik Schatzker -April 25, 2020

      “Carl Icahn isn’t buying stocks right now. He’s hoarding cash, shorting commercial real estate and preparing for the coronavirus to wreak more havoc.”

      This is a time to be “extremely careful,” Icahn said in an interview Friday on Bloomberg Television.

        Apr 25, 2020 25:27 PM

        Well of course, this is a time to be more careful. Don’t you agree with that?

          Apr 25, 2020 25:09 PM

          Big Al yes it is definitely wise to be careful, be diversified across different asset classes, have defensive plays like Gold, Bonds, dividend paying stocks, cash (in potentially a few currencies), and yet still not ignore the opportunities that are presenting themselves with a portion of ones holdings (like what we see setting up in PM stocks, Uranium stocks, and looking for deals in the Oil & Gas or Base Metals stocks when the time is right.)

            Apr 25, 2020 25:00 PM

            The point Carl Icahn was making in that piece was that he is going more defensive and in cash, where many of the bobblehead financial experts on the lame stream media are telling people to buy the dip and everything’s going to be fine and giving the “all clear” signal to jump back into the markets. That will likely end up being a dangerous proposition for those that listen to them.

    Apr 25, 2020 25:42 AM

    Fed’s Near-Zero Rates to Last into 2023, Economists Predict

    By Christopher Condon and Kyungjin Yoo

    “The Federal Reserve may hold interest rates near zero for three or more years, and its balance sheet will soar above $10 trillion as policymakers seek to revive the U.S. economy from recession, economists said in a Bloomberg survey.”

      Apr 25, 2020 25:22 PM

      Federal Budget Deficit Will Approach $4 Trillion In 2020, CBO Says, As The Economy Continues To Nosedive

      Sarah Hansen – Forbes Staff – Apr 24, 2020

      “As the recession caused by the coronavirus deepens and government spending on healthcare and economic aid skyrockets, the Congressional Budget Office said on Friday that it expects the federal budget deficit to hit $3.7 trillion by the end of fiscal year 2020—nearly five times the current deficit at the halfway mark of the fiscal year.”

        Apr 25, 2020 25:42 PM

        Who Pays For This?

        Apr 17, 2020 by Morgan House

        “The federal government will run a $3.8 trillion deficit this year and $2.1 trillion next year.”

        “Those estimates, from a budget-focused think tank, don’t include what’s almost certain to be another multi-trillion-dollar stimulus package or two, or three, in the near future.”

        “We’re all just guessing, but when this is all over – however you want to define that – it would not surprise me if the direct federal cost of Covid-19 is something north of $10 trillion.”

          Apr 25, 2020 25:29 PM

          Shad, this whole situation scares the daylights out of me. All I can pray for is that my planning and that of others will pay off in the end. In the meantime, Kathy and I will help all those who we are able to help. And, I do mean that!

            Apr 25, 2020 25:25 PM

            Big Al – You are a wise man, and likely prepared much better than most, and you are a good man helping out those in your sphere and community. That is all any of us can do.

            Most people should be scared about the trillions of dollars the government is spending because they are stealing from the future . The other thing they are doing is stealing the credibility of the US ability to pay back its debts as they pile on more and more and it’ll eventually be the undoing of our currency as the world reserve currency.

            Right now there are no other contenders on their own to dethrone the greenback, but out of the reorganization of world financial markets, there could be a movement towards a basket of currencies from other countries like China, Russia, India, the EU, Great Britain, Japan, Switzerland, etc… over unyielding faith in the US Dollar. Again this would be the next step towards a global currency, and most likely a digital currency tracking that basket of currencies. That is a very concerning proposition only amplified by the insane levels of money being injected into the system.

          Apr 25, 2020 25:37 PM

          Very unfortunately Excelsior, we do. But, then again, we did vote in the elected officials. Didn’t We?

            Apr 25, 2020 25:29 PM

            Well nobody voted for the Federal Reserve or any of the central bankers for that matter.

            I didn’t vote for any of the politicians either, and I believe the world may actually run better if all if them were removed from office. People inherently know right from wrong, and on a community level can handle most public processes without the need for the giant hierarchy of Mega government.

        Apr 25, 2020 25:31 PM

        I personally have been extremely concerned about the national debt sin the 1980’s and I am on the record for that.

          Apr 25, 2020 25:31 PM

          Consider how completely insane it would be to take a time machine and go back to the 1980s and tell people the debt levels we hold here in the 2020 is. They wouldn’t even believe the trillions upon trillions that are being spent.

            Apr 25, 2020 25:50 PM

            Big Al – At this point, most rational citizens are starting to wake up out of their slumber and more and more even generalist investors and casual market observers are starting to be extremely concerned about the piling on of unpayable loads of debt.

            The “cure” for this Covid-19 pandemic narrative, is turning out to be far more costly and deadly than the supposed crisis it is meant to treat.

            By locking down the global economy (instead of just doing better and more accurate testing for this thing they call Covid-19, instead of scaring people with numbers from folks that simply had simptoms or genetic material that matched immune responses in peoples lungs), they (the government bureaucrats ) have created this very economic problem.

            To add to the insanity they are now making every business and citizen too-big-to-fail and spending trillions and trillions to bail out the whole country, expand unemployment benefits to the very people their policies just force these people out of jobs, and now it makes them more dependent on the government and less likely to go back to work.

            It is clear that socialist policies are getting enacted regardless of the administration in charge., and we are getting a large nanny state out of this manufactured crisis. The government keeps getting bigger and more intrusive into daily life, and there is absolutely no way mathematically to pay all this debt back. This is an organized process which is now going to gradually derail and then destroy the existing global economy. Yeah, I’d call that concerning.

      Apr 26, 2020 26:43 AM

      Buckle Up: The “Stuckflation” Roller Coaster Straight Ahead!

      Frank R. Suess – 04/22/2020

      “You will hardly find the term “stuckflation” in Wikipedia, and certainly you will not find it in your dusty econ 101 textbook. We came across the term in a comic (see below), which we found amusing and, unfortunately, also quite applicable to the period we expect to witness ahead.”

      “The bad news: this time is not just different, it’s much worse!”

      “The IMF just released its April 2020 World Economic Outlook and it’s not pretty. They describe this crisis as the worst since the Great Depression.”

      “For the Advanced Economies, the IMF’s projections for economic growth in 2020 are –6.1%. According to the IMF, the economic contraction will be much worse than in 2008: “The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity. As a result of the pandemic, the global economy is projected to contract sharply by – 3.0% in 2020, much worse than during the 2008–09 financial crisis.”

    Apr 25, 2020 25:20 AM

    From what I am hearing, need to stay out of church also. 🙂
    Well, tonight going to a bar. Seems OK. Maybe I should not go anywhere they are not wearing masks. Let’s see…that’s almost everywhere.

      Apr 25, 2020 25:12 AM

      You might not be missing much…….if they are not teaching GRACE….

        Apr 25, 2020 25:36 PM


      Apr 25, 2020 25:04 PM

      Just make sure to have a bit of whiskey occasionally to keep the germs down, and dip a napkin in it and wipe your hands with it for sanitizer. Good luck David!

        Apr 25, 2020 25:36 PM

        I always like your suggestions. These are particularly worth a shot.

          Apr 25, 2020 25:17 PM

          Yes, maybe 2 or 3 shots… Cheers!

    Apr 25, 2020 25:03 AM

    FYI: Insider(s) purchased 300,000 shares of Brixton Metals on the 16th of this month and the technical picture hasn’t been this promising since last July.

    Apr 25, 2020 25:34 AM

    I’ve had a long sabbatical. If you remember my mantra from 2005 became, “if you fear inflation, buy bonds!” The reasoning being that gold would lack an explosive pulse higher without first an economic calamnity. 2008 proved our thesis and our bond-like positioning hit jackpot.

    Today however, “if you fear inflation then you should buy more gold”. It is simple. The Fed is trying to debase the $ to help the economy. Will it help? Maybe. Will it help the stock market? Probably. Will it help gold? Definitely. This is the final leg that i envisaged in 2002.

    Apr 25, 2020 25:11 PM

    GOP Rep. Palmer: Russia-Saudi Arabia Price War ‘Deliberate’ to Collapse Oil Industry

    Jeff Poor – 24 Apr 2020

    “Friday, during an interview with Huntsville, AL radio’s WVNN, Rep. Gary Palmer (R-AL) explained how that while there may be benefits to the collapse of oil prices, the long-term impact meant terrible things for domestic fracking in the United States.”

    “Palmer, the chairman of the House Republican Policy Committee, noted that his colleague Rep. Alexandria Ocasio-Cortez (D-NY) celebrated the drop in oil prices, which hurts these small oil companies born out of the fracking revolution.”

    “The Alabama Republican lawmaker speculated that the oil price war between Russia and Saudi Arabia might be deliberate, which has resulted in financial harm to U.S. domestic producers.”

    “AOC is out there celebrating with a little jig that oil prices have collapsed,” Palmer said. “And I’m sure most people are happy to be paying less than $2 a gallon for gas. But if you go back, to say, 1975 — what we were paying for gas in 1975 and see what that would come out to based on inflation, we’re paying net less for a gallon of gas adjusted for inflation that we were in 1975. It’s going to destroy the fracking industry, which is the very industry that brought us energy independence, enhanced our national security, and kept our energy costs low.”

      Apr 26, 2020 26:12 AM

      When Oil Became Waste: A Week Of Turmoil For Crude, And More Pain To Come

      David Gaffen – 04/26/2020

      “The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures (CLc1), which had never dropped below $10 a barrel in its nearly 40-year history, plunged to a previously unthinkable minus $38 a barrel.”

      “In just a few months, the coronavirus pandemic has destroyed so much fuel demand as billions of people curtail travel that it has done what financial crashes, recessions and wars had failed to ever do – leave the United States with so much oil there was nowhere to put it.”

        Apr 26, 2020 26:20 AM

        Energy & Precious Metals – Weekly Review and Calendar Ahead – Barani Krishnan

        Oil’s Black Monday feels like so long ago. Since WTI’s expiring contract, May, fell into the abyss of negative pricing – hitting minus $40 before settling at minus $37 – it has come bouncing right back. By Friday’s close, U.S. crude was just below $17 – in the positive but still miles away from the $61 level where it began the year.

        At its current trajectory, WTI is expected to attempt a return to $20 pricing in the coming week.

        “WTI’s front month, June, finished the week at a contango, or discount, of more than $4 per barrel to July. Open interest in the spot contract was also about 25,000 lots less to the nearby month. This signaled investors’ preference to be in a “safer” contract that pledges to deliver oil later rather than sooner in a glutted market.”

        “There is no bullish economic news on consumption-demand to come anytime soon. OPEC+ supply cuts will not come in for another 7 days. And stocks continue to fill up. There’s still an imbalance in the fundamentals of roughly 5 million barrels per day and until that persists, I do not see the price of crude going up substantially and with sustainability, i.e. a trend reversal,” Windisch added.–precious-metals–weekly-review-and-calendar-ahead-2151362

    Apr 25, 2020 25:42 PM

    Based on weekly closes, GDX:GLD has broken out and finished at a 3 year high:

    Apr 25, 2020 25:44 PM

    Without reservation, I agree with Michael Oliver’s outlook on gold and the miners:

      Apr 25, 2020 25:29 PM

      I would have to agree……..since, I have been thinking and saying.. that for a long time….

      Apr 26, 2020 26:16 PM

      That was a really good segment with Michael Oliver. I’ve always felt he was a sharp technician, but he really makes some good macro economic points in that interview as well.

    Apr 25, 2020 25:49 PM

    After this weeks comments, let’s get the PM Show on the road.

    Apr 25, 2020 25:53 PM

    Eight Capital’s Uranium Miners peer table. April 23, 2020

    (for almost every company with data their advice was: Buy, Buy, Buy)

    Apr 26, 2020 26:38 AM

    Well with the way things closed for PM’s and PM stocks on Friday I’m excited for the week ahead. Not sure if this was posted already. I’ve been trying to keep up on everything but with the Canadian govt paying people $500/week to stay at home,labourers are nonexistent so I’m actually doing everything myself.😞

    Apr 26, 2020 26:52 PM

    JAG finished last week above the 200 week moving average. The last time that happened was in July, 2010…

    Apr 27, 2020 27:04 AM

    Bought Jag last week…again. Had it for a year or two and got tired of it sitting. Sold it…then it moves. Giving it another chance as some of its debt problems might be better.
    However, Ex got me reading up on Uranium over the weekend, now I “are” an owner. Bought some Azarga as, even though they are Canadian, they have activity in the US and no debt and cash in the bank. Since there appears to be some support within the US to renew interest in uranium, then I guess I should be interested. Azarga was listed on some of EX charts he put up. Although shares are at 200mil which seems on the high side, it appeared low for the sector. That’s my contribution to normalcy today.

      Apr 27, 2020 27:40 AM

      Nicely done on picking up Azarga Uranium David. I don’t own a position in it but do follow it a near-term ISR Uranium producer in the US. I have positions in Ur-Energy, Energy Fuels, UEC, and Anfield Energy for US Uranium plays, and my only Canadian developer at the moment is NexGen. I plan on adding more of the Canadian companies at things proceed though, and have owned Denison, UEX, ALX Uranium, in the past, and would be interested in picking up Skyharbour, IsoEnergy, and Purepoint as well.

      I’ve also done well in the past Centrus (LEU) and Lightbridge (LTBR) as nuclear fuel companies, but unfortunately missed their recent moves higher.

        Apr 27, 2020 27:25 PM

        You remain my idol. Based on my reading, you have held the best and the best of the best recommendations. I have to sacrifice a PM miner to substitute for uranium…so I am tippy toeing. However, if out performance occurs, the decision may become easier. I am still waiting for that silver rally. We shall see…thanks for the motivation. I also picked up Mawson Resources last week. Must have had weak moment for Finland or something.

          Apr 27, 2020 27:31 PM

          Haha! Thanks for kind words David, but I pick a number of stinkers just like we all do.

          However, I do spend a lot of time dissecting the resource markets, looking for the overhyped, overlooked, under-loved, best in class, best of the worst, worst of the worst, etc… to parse things down to a solid watch-list.

          Typically my approach is to find a sector I like, then the fundamental stories I like, and then use technical analysis to figure out probabilistic entries for good value and risk reward ratios.

          I like all the Uranium stocks mentioned above, to different degrees, because of their fundamental situations, and it looks like Uranium is finally on the gradual rise back higher, as the supply has almost completely been destroyed at this point.

          Yes, I’m still waiting for the Silver rally as well. It will come…

          As for Mawson, I looked at it a while back and at the time they had a unique mix of commodities in their projects, but I’ve not taken a look in a while. I’ll go back and take a closer look and appreciate the heads up David. Cheers!