Discussing this week’s breakout in gold and gold stocks, and Bitcoin crash

May 22, 2021
Full Weekend Show

On this Weekend’s Show I focus on gold’s break above $1,850. I discuss what is driving this move, how the stocks are performing, and where it could go from here. We also discuss the Bitcoin crash.

If hope you all enjoy this Weekend’s Show and the Daily Editorials that were posted throughout the week. Please keep in touch and send me any questions for Companies or companies you would like to see on the show. My email address is

  • Segment 1 and 2 – Jesse Felder, Founder of The Felder Report kicks off the show with a focus on the crash in Bitcoin and how this reflects on a shift in overall investor appetite for risk.
  • Segment 3 – Adrian Day, President of Adrian Day Asset Management and manager the Euro Pacific Gold Fund is up next with an extended segment on gold’s move and the underlying gold stock. We also balance the investment outlook for precious metals vs base metals.
  • Segment 4 – Dave Erfle, Founder of The Junior Miner Junky wraps up the weekend show with a focus on the breakout in gold and performance of the junior gold stocks. There is a lot to be encouraged about for the gold sector as the stocks are continuing to lead. 

Exclusive Company Interviews This Week

Jesse Felder
Adrian Day
Dave Erfle
    May 22, 2021 22:13 AM

    Prepare for a Strong May/June/July in Physical PM’s and their equities.

    May 22, 2021 22:05 AM

    Thanks to all the KE Report contributors to another full week of daily editorials, company updates, great insights and investable ideas on the blog, and another solid weekend show.

    Ever Upward!

      May 23, 2021 23:08 AM

      Taylor Dart just wrote a positive article about Vista Gold(VGZ). Any comments about it or off your screen.

        May 23, 2021 23:50 AM

        Hi Terry. If the question is for me, I don’t know much about Vista Gold so no relevant comments. I’ve seen a few posts about their exploration success and know they are a gold developer, but that’s about it. If Taylor is actually positive on it, then that is saying something.

          May 23, 2021 23:34 AM

          Thank you, VGZ has a huge discovery in Australia.

            May 23, 2021 23:26 AM

            Good to know. I’ll have a closer look as to what they are up to. Much appreciated.

            For now, I’m positioned in FSX Fosterville South looking to see if they can make the next big discovery in Australia. They have land all around Kirkland Lake’s Fosterville Mine.

    May 22, 2021 22:37 AM

    PM Saturation Price Quality:
    Parens are used to highlight the top two factors, (6) and (7).
    On the 14th a related aspect gave a clear ‘heads-up’.

      May 22, 2021 22:51 AM

      BDC, based on those readings of 6 & 7, do you feel that the PMs are a bit overbought at this point, and preparing to turn down for a period of time and digest the moves higher?

        May 22, 2021 22:06 AM

        If so that would not surprise me, as Gold has just achieved a nice technical breakout, so it would be natural to have that move pressed back down and test the downside by the bears to see how things holds up.

        Whatever happens, the moves this last week finally gave the markets a confirmation that the move up higher, out of the March double-bottom, was not just a head fake, but rather, just popped it’s head above the downtrend line and 200 day MA. That is technically quite significant and small victory for the bulls, but there is still a lot work to do before the higher resistance levels of $1950-$1960 are cleared, or the all time high of $2089 can be taken out again. It may be time for another pause that refreshes.

        >> Attached below is a Gold chart for review.

        Please note that both the downward trendline from last August’s peak through the Jan peak [down to around the $1850 level, as well as the 200 day MA at $1851 were both cleared by Gold with closes above those levels all week long.

        Especially significant is the close Friday ending the week decisively above both that downside trendline and the 200 day MA. That is nice to see on a weekly basis for a confirmation, that the move up through resistance is now clearly on the daily (and weekly). That is a textbook confirmation of the move higher that started off the double bottom in March at the $1673/$1674 levels for anyone to see with their own eyes.

        Could Gold and the gold miners get swatted back down from right above resistance in the next week or two by the bears… Sure they could.

        However, the trend for the last 2 months clearly went against where the bearish consensus was back in March, and momentum has clearly been with the bulls through both April and May. It was nice to get a break from the 8 month correction, and see a reversal of the trend. The break above key resistance is significant, and if it get’s stuffed again in the short term, more traders are now alert to the potential of a breakout to higher levels being in play for later in the year.

          May 22, 2021 22:23 AM

          Gold closed up the week at $1881.85 on the futures so that is a very respectable price for the yellow metal, and plenty good for the miners.

          Some key questions to consider:

          > Question: “Can the Gold Producers make money at $1881 metals price?”

          >> Answer: Of course they are. Heck, most Gold producers just need gold to be above $1100-$1200, so even if Gold was still in the $1600’s or $1700s, they are printing money. With Gold in the $1800s though, they are going to generate enough cash flows that they can plow more money into dividends, mergers and acquisitions, into strategic stakes in juniors, and into exploration and expansion.

          > Question: “Are the Gold Developers projects attractive and economic at $1881?”

          >> Answer: Of course they are! Look, if a project is not attractive to develop at $1800 gold, near $1900 gold, then it is not a legitimate project… it is a soil anomaly. Most good development projects are solid at $1200-$1500 Gold or lower. Again, even if Gold were to pull back to the $1600s or $1700s, then these development projects are plenty fine, but with Gold in the $1800s then their economics (NPV, IRR, Payback periods) should jump off the page at investors, or at the big boy miners that are considering acquisitions.

            May 22, 2021 22:29 AM

            It just seemed relevant to point out the obvious one more time, because so many investors worry and fret over every blip in the metals prices, and for most people it is simply noise.

            If people are longer term stackers, that aren’t planning on selling their physical Gold anytime soon, and are holding it for insurance purposes in their asset portfolio, then whether Gold is at $1500, $1600, $1700, $1800, $1900, or $2000 is irrelevant. Sure if it dips down, they may want to add more, but they aren’t losing sleep at any of these prices.

            If people are investing in the Gold producers or developers, then sure, the higher the better for margins or economic calculations, but the prices we’ve seen the last 2-3 years are plenty fine for progress to made in the mining sector. The higher the prices go, then the more cashflow the producers generate, and the more of that they can reinvest in the sector through strategic stakes in the juniors, through all-out takeovers, and in beefing up their exploration and expansion efforts.

            Just a friendly reminder that we are not in a bear market anymore, and haven’t been since December of 2015. It’s OK to smile and enjoy the ride higher when you are winning the long game. 😉

            May 22, 2021 22:36 AM

            It should be mentioned that the exact same thing is true for Silver and the Silver miners.

            > Question: “Can the Silver Producers make money at a $27-$28 metals price?”

            >> Answer: Of course they can! Heck, most Silver producers just need it to be above $18-$20, so even if Silver had crashed to $22 or $21 as many thought it would still be printing money all the way down to those levels. With Silver in the mid to high $20’s though, they are going to generate enough cash flows that they can plow more money into mergers and acquisitions, into strategic stakes in juniors, and into exploration and expansion.

            > Question: “Are the Silver Developers projects attractive and economic at $27-$28”

            >> Answer: Of course they are! Look, if a project is not attractive to develop at $27 silver, then it is not a legitimate project… it is a soil anomaly. Most good development projects are solid at $18 Silver or lower. Again, even if Silver was to pull back to the $22, then these development projects are plenty fine, but with it in the $24-28 range, then their economics (NPV, IRR, Payback periods) should jump off the page at investors, or at the big boy miners that are considering acquisitions.

            May 22, 2021 22:43 AM

            Case in point (just one of many we see in the well run producers):

            Notice below that Silvercorp is printing money, paying dividends, buying new mines, and taking strategic positions in junior miners. That is the trend we will continue to see from cashed up producers.

            (SVM) Silvercorp Reports Net Income of $46.4 Million, $0.27 per Share, and Cash Flow From Operations of $85.9 Million for Fiscal 2021

            20 May 2021

            > FISCAL YEAR 2021 HIGHLIGHTS

            – Mined 964,925 tonnes of ore and milled 967,581 tonnes of ore, up 9% and 8%, respectively, compared to the prior year, with silver and lead production meeting the production guidance and zinc production beating the production guidance
            – Sold approximately 6.3 million ounces of silver, 4,700 ounces of gold, 67.1 million pounds of lead, and 27.9 million pounds of zinc, up 1%, 42%, 3%, and 10%, respectively, compared to the prior year;
            – Revenue of $192.1 million, up 21% or $33.3 million compared to $158.8 million in the prior year;
            – Net income attributable to equity shareholders of $46.4 million, or $0.27 per share, up 35% compared to $34.3 million, or $0.20 per share in the prior year;
            – Cash cost per ounce of silver, net of by-product credits, of negative $1.80 compared to negative $1.91 in the prior year;
            – All-in sustaining cost per ounce of silver, net of by-product credits, of $7.49, compared to $6.86 in the prior year;
            – Cash flow from operations of $85.9 million, up 11% or $8.7 million compared to $77.2 million in the prior year;
            – Received $6.5 million (CAD$9.0 million) break fee from Guyana Goldfields Inc. and realized a gain of $15.4 million on disposal of the shares of Guyana Goldfields;
            – Paid $4.4 million of dividends to the Company’s shareholders;
            – Invested $5.8 million in a private placement of New Pacific Metals Corp. (NUAG) to maintain the Company’s ownership interest;
            – Acquired a 26.99% interest in Whitehorse Gold Corp. (WHG), having a fair market value of $15.1 million as at March 31, 2021, as a result of (a) receiving 5,740,285 WHG common shares under a spin-out transaction completed by NUAG, and (b) subscribing for 5,774,000 WHG common shares at total cost of $1.3 million under a private placement;
            – Won an online auction to acquire the exploration rights to the Zhonghe Silver Project from the Henan provincial government of China, with the mineral rights transfer contract pending the national security clearance by the related authorities;
            – Acquired a 43.8% interest in the La Yesca Silver Project in Mexico through a new corporate structure, New Infini Silver Inc. for approximately $9.1 million; and
            Strong balance sheet with $199.1 million in cash and cash equivalents and short-term investments, an increase of $56.6 million or 40% compared to $142.5 million as at March 31, 2020. This does not include $212.1 million in total market value of investments in associates and equity investments in other companies as at March 31, 2021.


            May 23, 2021 23:53 AM

            Exactly that, Ex.
            They all make decent profits at these prices right now.
            However, at several 100 dollars lower, they still make money.
            The producers are at the perfect spot for the next leg up, to generate cash to invest in new properties.
            That’s where I think a lot of gains can be made, in good quality properties. Now just in the exploration fase.
            Must say that most of them will not get that far because of many different reasons.
            Some still have an outstanding property, with new possibilities to explore them.

            Look at Slave lake zinc, it hasn’t been explored for at least 50 years! It’s unknown what they can find, however there are indications for mainly zinc and lead, but also gold and silver. Those are the project I’m getting a warm feeling from. Those are the chances in this sector you are looking for.

            For Copper and Tin. (yes Tin!) I’d take a look at CUSN, that could become a mine again and right now they are targeting drill spots, await the results as we speak.
            It’s in SW England, very high grade mine with a huge resource waiting to be mined out.
            Furthermore: a company is looking for lithium as well, they’ve made a nice arrangement, beneficial for both sides. When they drill for lithium, they find copper and Tin as a byproduct. Perfect for CUSN to base new targets on, etc.

            I’ve seen MTH here already in the show. I think that property might become a future mine, all indicators are green for that to happen.
            Gold in soil, and in hardrock. 2 irons in the fire, and if they find a feeder on the property all bets are off.

            Developer: LMG; Good project, they just need to get things cleaned up, and by the looks they might pull that off easy. very low outstanding shares, had a rough time as many companies had. Now is the time for them to get things going.

            Often I’m just reading here, but thought I’d put my 10 cents in this am. 😉
            I could mention some more projects but the 4 mentioned right now are the ones with low risk (if that’s ever possible) and higher reward in the exploring and developing sector.

            May 23, 2021 23:40 AM

            The only negative factor I see right now regarding margins is the fuel costs that are up roughly 40% from last years lows…..eventually wages may become a factor too but at these PM prices both are offset still

            May 23, 2021 23:39 AM

            Hi Argentum. Nice to see you posting here at the KE Report.

            Yes, you are spot on. The producers are in (and have been in) a sweet spot in regards to their production margins, and even if Gold dropped a couple hundred dollars, or silver fell by 4-6 dollars, the producers would be just fine. However, with metals prices at these elevated levels, they are cash cows right now, if they had debt they are paying it down, but more importantly they are investing in exploration again (either their own projects, or many producers are taking strategic stakes in junior explorers that are looking for what they want to find – large district scale projects).

            On the gold exploration size, I don’t know much about Lincoln Gold, but will have a look if you think it is prospective. As for Mammoth Gold (MTH), yes, it is early stage still, but I have a small position in place and feel Thomas & team is doing the right work to make a great discovery there. I’ll be awaiting more exploration results with keen interest.

            As for Tin, yes I’ve looked into Cornish Metals and it seems quite prospective. I used to own Metals X and Aussie company that has one of the largest Tin mines on the planet. Strongbox is another good one. Right now my 2 main Tin exposures are with Tinka resources (known for their Zinc/Silver development project, but they also have a Tin resource further at depth) and more recently Eloro Resources (exploring for high-grade Silver in Bolivia, but they pulled out some healthy Tin numbers in recent channel trenching, and they could be onto one of those massive Silver/Tin deposits that Bolivia is known for).


            May 23, 2021 23:43 AM

            Wolfster – Yes good points on the rising input costs on the producers, with fuel and labor being 2 of the highest costs for a producer, and those are on a rise, but luckily their margins have gone up multiple-fold and have more than offset those, but it is something to keep an eye on. Another variable is the currency exchange rates in the companies they operate in. If they are in countries where the dollar’s weakness leads to their local currency’s strength, then this could be another rising input cost as they pay their labor in local currency (which could be rising). Taxation is another issue, as we’ve seen recently by the terrible leftist policies being introduced in Chile & Peru, and hoping they don’t spread to Argentina, Brazil, or Ecuador. Also, Mexico has raised taxes in years past which impacted a number of the Silver miners, so hopefully they keep things in check in that country.

        May 22, 2021 22:11 AM

        Howdy Ex,
        At this moment it appears that there will be more upside, but as on the 17th, where premarket verified the ‘tell’ of the 14th, the closer we get to the open the better. There may be one or two such indicators, which I’ll hunt for this weekend, but nothing like the 14th. THAT was across the board — just needing early 17th proof.
        Hopefully the restructured presentation will become more useful for folks. Comments are welcome: positive or negative.

          May 22, 2021 22:24 AM

          Thanks for that feedback BDC. More upside will not rain on anyone’s parade. 🙂


          May 22, 2021 22:53 AM

          Monday May 17th GDX calls. Over 500% same day gains (May 21st expiration):

            May 22, 2021 22:52 AM

            +500 Wow BDC. Congrats man! 500% on those GDX call options was a great return.

            I don’t play in the options space, but respect those that can effectively invest in that way.

            May 22, 2021 22:14 PM

            Thanks! Unfortunately my current gains now come from JNUG and JDST. One goal is to swing trade GDX options — after finalizing STATS, which should be soon. In the mean time I will post anything significant which pops up, especially during the pre-market.

            May 22, 2021 22:41 PM

            Thanks BDC. I appreciate your input and keeping things on folks radars here at the KER.

            I’m not well-versed enough to swing trade the GDX options, but I wish you all the best in your trading, as always.

    May 22, 2021 22:50 AM

    Last week was another wild one, with Gold & Silver starting the week by finally breaking out above key resistance, and then closing the week above it, with the Cryptos crashing all week crushing the expectations that it was a great inflation hedge and with China putting the kibosh on it as a payment method and cracking down on the energy consumption of the crypto miners, with the Commodity sector getting whacked midweek around Fedbabble and China lightening up on it’s purchases causing Copper, Nickel, Platinum, Palladium, Oil, and the Soft Commodities to pull down from their loftier levels of 2 weeks back, and a continued sideway slog in the general markets (which some see as evidence they are weak and staring to roll over, and others see as the next pause before liftoff).

    Despite all the different cross-currents, most folks invested in PM miners had a great week, with many traders on multiple sites and forums reporting they had some of the best returns on Monday and Wednesday that they’d seen in a long time. It was very refreshing to see the juniors start catching up with the moves the larger miners and royalty companies had been making for the last 2 months. As we’ve discussed so many times, it is typical for the big boys to move first in a move, as that is where the new generalist money lands, and then we start to see things trickle down the food chain over time and start to lift up the smaller junior stocks next, so that trend was encouraging to see lately and accelerated this last week.

    Folks that were buying miners near the end of Q1 or earlier in Q2 should have had some nice returns the last 2 months, and one would expect to see a bit more enthusiasm in the sector. It is strange how quiet it has been on the blog from last Friday to this Friday, considering the nice moves the miners have been making higher; but it seems the overly bearish sentiment pervasive all through the first few months of year, has caused many investors to not believe the steady ramp-up higher in the miners for the last 7-8 weeks. Some were even advising folks not to be buying back in March, and other investors were sadly selling completely out of miners back in Feb & March which was clearly the wrong call.

    Back in Feb & March, I mentioned repeatedly that despite the bearish consensus that I was deploying most of my dry powder into the very oversold stocks, focusing mostly on quality royalty companies, mid-tier producers, and the better developers with quality projects that were on fire sale. It was not easy to be buying back then, and felt very uncomfortable due to the plethora of warnings of doom and gloom that was forecasted for months to come. There were 5-6 prominent technicians stating that Gold was going to be heading down into the low $1600s or high $1500’s or that Silver was headed to $22 or $21 or $19. There were so many bearish commentators, technical analysts, and even bearish fundamental analysts in Feb & March, that I did decide to hold back a little dry powder in case that consensus was correct. I didn’t want to be caught without cash available if the general consensus in the space was that we were going to see continued weakness in April and May, and with some expecting a true bloodbath. Fortunately, that is not what played out at all.

    Most of my buying in late Feb and early March was a actually a bit too soon by a few weeks, as the sectors continued to pulled back into the end of the March. However, the moves up coming out of the double bottom in March, through the April climb higher, and the May surge, have made those purchases quite profitable, proving once again, you don’t have to nail the absolute bottom, but you just need to be buying when things are really oversold, zig when others zag, and eventually a reversion to the mean will take place providing nice gains. People always like to claim they are contrarians, but it seems like few actually have the stones to buy when sentiment is at it’s lowest. We saw this recently in March, and saw it spades in March of 2020 in the prior year, when most people abandoned ship at the exact wrong time, when they should have been loading the boat into the panic selloff. Most investors actually abhor buying low, and refuse to sell high, instead preferring to cry low, and buy high.

    Personally, after getting a nice lift in those valuations over the last 2 months, I’ve been trimming a bit off the top in some of my gainers this week, just in case Gold was rejected at $1850 resistance, and if it was a failed breakout. I trimmed back some of my base metals positions as well, because other commodities (copper, oil, platinum, nickel, iron, soft food commodities, etc…) looked to be overbought and topping out, as China throttled back it’s buying of them. I’m still very constructive on the commodity complex in the big picture, but things had really run hard for so long, that it looked like we may see a pause in the run higher to allow things too cool off for a period and digest these moves higher.

    I close up shop for the week hitting another all time high in my portfolio, which has been the trend for the last 2-3 weeks. This actually is a bit of a surprise, as I had mentally prepared for a struggle in April and May in the resource sector, and it turned out to be one of the more profitable periods we’ve had since earlier last year. Few would have guessed that based on the rhetoric we heard at the end of Q1 from almost every direction in the financial markets.

    Taking a few chips off the table here, to raise some cash on the back of these gains, seemed like a wise risk management scenario at this point, in case we see any backing and filling in the next few weeks that can be exploited. In many positions I reduced them by 15-30%, to raise some funds, but left 85%-70% of the core positions in place in case things keep ripping. It would not surprise me to see another small digestion period of these gains though, over the next 2 weeks, so I’ll be looking to pounce on any pullbacks we see develop. Overall though, things continue to look solid for the larger bull market in both Gold and Silver, and for the general longer term trend. Hopefully folks here made some cheddar the last 2 months on their resource stocks in Gold, Silver, Copper, Nickel, Platinum/Palladium, Iron, Oil, and Soft Commodities.

    May all the good folks here at the KER have prosperity and good trading in the weeks to come, and hoping all our Canadian friends have a nice long weekend.


      May 22, 2021 22:30 AM

      Ex, great articles as usual the only thing I might add is that The Chinese are trying to fool us again by saying they are pulling back on their purchase of soft commodities, The Chinese are great traders that know rhetoric can fool a lot of people. While we may think they aren’t buying base metals galore, that is exactly what they are doing. China concentrates on fooling us into believing otherwise (to keep the price low) and it has made itself a powerhouse through deception. The Chinese are buying with printed money but it is money well spent and not on War.

        May 22, 2021 22:33 AM

        Ex, are you an Asian Trader, Just Kidding! I think? LOL! DT

        May 22, 2021 22:40 AM

        Thanks DT. Good point that the Chinese are often opaque about what they are purchasing, and have often surprised the market with how much was purchased in the past (with gold, iron, copper, grains, etc…) compared to what they stated they would. From articles I’ve read this year, they’ve continued to add to these stockpiles, but have recently tried to tamp down commodities prices and market speculation. Maybe they are just doing this to keep acquiring, and don’t like the inflated prices in commodities, but as you stated, they aren’t burning their money on war/military, and are actually buying real products to invest infrastructure. That is why they have bullet trains, a new silk road, new bridges, new airports, and cutting edge cities being built, and the US has 3 out of 4 bridges that are in much need of repair, dated trains, crappy airports, and cities that were on fire and getting gutted most of last year. It is a stark comparison for sure.

        If the US does move forward with some form of infrastructure that should help to further unpin the commodity sector. Even with China and the US aside, it’s a big world out there, and many developing nations in Asia, Africa, South America, Central America, the Middle East, and Ex Soviet block (Stan) countries, are going to need more Iron & Nickel for Steel, more Copper & Silver for the electrification and for the tech gadgets of the modern age, more energy metals like Lithium, Cobalt, Platinum, Graphite, Rare Earths, Uranium, etc… and they’ll still require more Coal, Oil & Gas, in tandem with all the materials needed for the clean energy portions of their energy grids. Basically the world it going to need more stuff (commodities) and the energy to power their stuff, so being in the resource sector isn’t going out of fashion anytime soon…

          May 22, 2021 22:41 AM

          unpin = underpin

          May 22, 2021 22:52 AM

          Ex, once The World returns to the Gold Standard, or some form of honest money, all of these commodities will need to be paid for in hard earned currency. It only makes sense for countries and in particular that The Chinese would be buying now while the printing press is still a viable option. DT

            May 22, 2021 22:37 AM

            Yes, the Chinese are using their printing presses and funny money to buy resources to build infrastructure, build out their power grid, and it makes sense. Most of the west from the EU, to the US, to Canada are using their printing presses to fund “woke” collectivist nut job agendas, to introduce more restrictions on their citizens, and bail-out failed business policies. It’s a stark contrast once again, but what China is doing makes far more sense for the long game.

            As for the Gold Standard or Sound Money returning, I’m far less optimistic that this will ever happen again. The Great Reset theme from Davos was about having less stuff, less individual liberties, and less control of one’s future and the powerbrokers that be saying that “and you’ll like it”. It’s far more likely they are biding their time for a bunch of conflict from the Currency Wars race to the bottom, where eventually, after enough outcry from the sheeple, that they’ll waltz in and reveal their new Global Currency. That’s been the master plan all along from globalist deep state elites, and now with Covid making tangible Cash dirty and unsafe, and with the advent of Cryptocurrencies, it has only paved the way for the masses to accept government Digital Currencies. At first citizens may have a digital wallet of the world’s fiat currencies, but over time, it will be replaced with WorldCoin, and then they’ll have everyone by the balls… All will be tracked and taxed, and if someone doesn’t accept the Global Goons agenda and has a low social credit score, then their WorldCoin can simply be deleted.

            It’s a Brave New World…. 😮

    May 22, 2021 22:55 AM

    CORY… Could you ask Jeffery Christian , a question from me , when you interview him on the 25th of may…… Will the manuplation of the Silver price end , when Basil 111 comes into play , in June……………… Thanks.
    Perhaps others on here, should post their questions , that they wish CORY to ask.

      May 22, 2021 22:02 AM

      IT, maybe Jeff could ask Cory about the poster’s pay, I wouldn’t want to foot the bill for Ex’s contribution’s. LOL! DT

        May 22, 2021 22:10 AM

        Haha! Good one DT. I’m not sure how much you’ve made posting here, but my only pay has been in knowledge… rounded to the nearest penny… 🙂

          May 22, 2021 22:09 PM

          Ex, while your content is incomparable i will point out that i have been tirelessly building the ‘Excelsior’ brand for years reposting your commentary on stockhouse.

          When you make the inevitable transition to fee based content remember me…together we will conquer the world and, more importantly, ‘Worldcoin’.

            May 22, 2021 22:34 PM

            LOL! blazesb. That comment was funny, with conquering Worldcoin, and just got you a lifetime free membership. Haha!

            Seriously though, thanks for the kind words. For now, I just enjoy ranting here and at, but had no idea you were reposting my commentary on stockhouse. That forum can be a bit rough around the edges, so I hope my comments are helpful in some way to investors, and not met with too much trolling. 😉

            Your kind sentiment is much appreciated. Ever Upward!

            May 22, 2021 22:59 PM

            Sure, we could collect, oops c-word violation, make that ‘stack’ worldcoins in our cyber warehouse. So much better than wasting valuable space with silver and gold bars!


            May 22, 2021 22:38 PM

            Haha! Sure…. If the globalists get their way their centralized “WorldCoin” would just get foisted upon the world, and likely be “stacked” in citizens new digital wallets. The only way to conquer it, is to stop it before it comes out and sadly, I’m guess folks will beg for it in the end as more “fair” or “equitable” for the nations of he world. The people will miss the whole point that it has taken away even more freedom and consolidated the power from the many into the hands of the few. If there does come to be a point where there is only 1 medium of exchange like that, and people get boxed out or blocked out, then they are lost. As a result, people will be forced to comply with whatever arbitrary rules are imposed so as not to endanger their stash of globalist WorldCoin.

            I’m hoping we don’t see something like that play out, but the trends in motion to have a more Technocratic society where AI and Big Data manages the masses is apparent on many fronts. Having a global currency has been on the elitist’s wish list for some time, but they’ll need a collapse of the old fiat systems first, for there to be a big enough problem to garner a big enough reaction. Then they’ll ride in with their “solution.”

            Until then, we’ll just need to appreciate the “good ole’ days” as long as they last….

      May 22, 2021 22:21 AM

      IrishT. Good point about the upcoming debate between Jeffery Christian and the WallStreet Silver guy this Tuesday.

      It’s going to be a widely watched/listened to debate, and it is nice that Cory was selected as a fair and even-keeled moderator. Good luck Cory!

      The WallStreet Silver guys don’t seem to think very much of Jeff, and created this video game a few weeks back.

      Introducing the new video game for Silver expert Jeffrey Christian

      Wall Street Silver Apr 27, 2021

        May 22, 2021 22:23 AM

        Maybe someone could ask who manipulated Silver higher from $13 from March 2020 to $30 February 2021?

      May 22, 2021 22:56 AM

      IrishT. Cory did ask John Rubino about Basil III on this last Monday’s show, and John offered some of his thoughts on the matter.

      That question about Basil III starts at the 6:24 mark:

        May 22, 2021 22:29 AM

        Hi EX. Thanks.

          May 22, 2021 22:45 AM

          10-4 good buddy.

      May 24, 2021 24:57 AM

      Silver Chartbook: Basel 3 The Silver Bull

      May 24, 2021 – Florian Grummes – Seeking Alpha

      “On June 28th, a new Basel III regulation will be set in place that disvalues unallocated gold paper contracts held against lendings.”

      “At the same time, physical Gold changes its spot from a Tier 3 asset to a Tier 1 asset.”

      “Gold being the leader in the precious metal sector has a massive effect on Silver, and this is again another factor for our strongly bullish consensus regarding silver.”

      “Hence, it would also come as no surprise if silver would break out of its triangle soon. Especially since US$27 has built itself out to be the significant volume analysis support zone for silver prices.”

    May 22, 2021 22:01 AM

    Kootenay had a 12.5% week and looks great for more immediate upside.

      May 22, 2021 22:08 AM

      The chart above shows a test of Fibonacci fan support and this one shows the taking back of recently broken speed line support:

      May 23, 2021 23:58 AM

      Right on cue with the……I thought the same thing with how Kootenay traded towards the end of the week but that was just the eye test

        May 23, 2021 23:29 PM

        Based on the weekly RSI readings at the recent low and the covid low, you could say that .265 is the new .115 for Kootenay, which makes sense since silver was 11.64 at the covid low and twice that at the recent low in March.

    May 22, 2021 22:23 AM

    Great show as always.
    Where has Al Korelin been?
    Seems it has been a while since hearing him on a show.

      May 24, 2021 24:20 AM

      Thanks Taiko,

      You can still find Al periodically discussing politics and religion by clicking on the KER Politics tab on the left or at the top of the home page.

    May 22, 2021 22:57 AM

    speaking of “Fan Support” when the bleep is Brixton going to turn it up? Hasn’t it spent enough time in the penalty box? I thought it would be above .29 cents by now.

      May 22, 2021 22:14 PM

      Confused, I don’t know but I liked buying more yesterday at an average of .20 (Canadian). It was the most I have bought in one day since January. Barring significant good news, such explorers are unlikely to do much this early in an intermediate move (a move that could still use some confirmation from silver itself).
      It has now probably seen its low (it took out its January low yesterday) but a quick further dip to .17 wouldn’t surprise me. The reason for .17 as a possibility does not show on the following chart.

        May 22, 2021 22:19 PM

        that makes sense. I guess I will watch for IPT to move a couple of weeks before BBB then we will be off to the races.
        Now this impulse move is just getting started. Do you think this will last 8 months or more? It feels like a massive move is a brewing!

          May 22, 2021 22:35 PM

          I don’t know how long it will last but 8 months is a reasonable guess while 6 or even 12 months are also possible. I am convinced that it will be much bigger and healthier (as in not so spikey) than last summer’s move.

          May 22, 2021 22:46 PM

          Btw, you’re probably right to watch IPT since it has production and tends to move much more as we’d expect when silver moves. It is also a bit of a bellwether compared to its peers. Notice that it topped about 3 weeks before Brixton last summer.

            May 22, 2021 22:55 PM

            Good to hear. I hope silver gets to or past the $60 mark on this next move. I imagine it will plunge back to 40$ after that but…eirther way the stock should raise main street’s eyebrows.

    May 22, 2021 22:09 PM

    I find this company interesting! Granada Gold Mine SYL-GGM Granada Gold Hits Massive Rare Earth and Alkali Metals Zone. The company encountered unusual facies of altered rock which has been assayed for 56 metals. Additional assays are pending. In drill hole GR-20-22 they intersected 21 distinct mineralized zones. Rare Earths and Alkali metals of note are Caesium, Rubidium, Scandium, Zirconium, Cerium, Gallium, Hafnium, Neodymium, Strontium, and others. They are located in a great jurisdiction just outside Rouyn Noranda, Quebec. They also have an old mine on their property where they recently drilled high grade gold on Feb 19, 2021. One intercept was 107.8 g/t over 4 meters. their intercepts are at depth. They now have three drills working the property. The stock sells for 15 cents CDN and the market cap is about 16 million CDN.

      May 23, 2021 23:29 PM

      Granada does sound interesting. Has a history, some pretty good neighbors and a recent rare earths hit. Share structure OK but I like lower. But, price is good.

    May 22, 2021 22:30 PM
    May 22, 2021 22:50 PM

    (SLVR) (SLVTF) Silver Tiger Intersects 1.3 meters Grading 3,000.7 g/t AgEq within 14.8 meters of 462.6 g/t AgEq in the Benjamin Vein

    May 18, 2021

      May 22, 2021 22:02 PM

      (SLVR) Silver Tiger has been a good performing silver explorer over the last year in my portfolio, and has had some reasonable volatility making it ripe for swing trading.

        May 22, 2021 22:35 PM

        Over the last year or so (DEF) Defiance Silver has been another silver explorer in my portfolio that did quite well, while also remaining quite volatile and good for swing trading.

          May 22, 2021 22:48 PM

          One of the most unusual journeys over the last year though, has been with (VZLA) Vizsla Resources, as it had that really big gap up on the monster drill results, which was quite exciting, then a gradual sell down, base, and ramp back up in a big rounded saucer bottom. It has recently moved quite a bit again to the upside, but I’m at a slight quandary as far how things are setting up.

          Any of the technicians here have a perspective on the Vizsla chart?

          (A) Does it look like it could double-top here and then head back down?
          (B) has VZLA just formed a big cup, where it will pull back to form a handle, but then launch into the next up-leg higher?
          (C) Could the Vizsla chart just keep running higher here?

          It seems like it has run pretty hard at this point, the RSI only recently got a bit overbought and then cooled a bit, but it is really far above the 55 day EMA and so I’m leaning towards it’s more likely to retrace some of it’s move soon and option A or B as more likely scenarios. Anyone else have a thought on the technical setup?

            May 22, 2021 22:10 PM

            Howdy Ex,

            (A) and (B) have yet to be determined; (C) is unlikely:

            VIZSF is now at Chapman Wave F or G up from its March low. Two significant ABCD extensions average 2.36 (May 18th high 2.37). A minimal pull back to the 1.68 – 1.84 area is possible.

            Vizsla has followed general market conditions so far!

            May 22, 2021 22:27 PM

            Thanks BDC. I was beginning to think no technicians were going to respond to the above questions.

            I tend to agree, as mentioned, that a pullback seems more likely, and I’m leaning towards option (B) where the pullback may actually form the handle after that big rounded bottom cup shape, and could present a good buying opportunity on that move down. The cup & handle pattern, if that is what plays out, is a bullish one, and there would be a measured upside move coming out of a pullback into a handle formation.


            May 23, 2021 23:56 AM

            Sure thing!

            Vizsla’s second ATHBO (all time high breakout) has been achieved on significantly lighter volume, which also brings ~1.50 into range:

            Summer doldrums may be broken by the next upsurge in PMs.

    May 22, 2021 22:34 PM

    Looking at my portfolio, recent movers have been Vizsla, Emerita, Eloro, Sun Summit, Discovery, Blackrock, Silver Tiger and Summa. Looking at moving some Vizsla profits depending how Monday starts.

    May 22, 2021 22:40 PM

    Hi Matt,are you buying anymore GGO before the PEA comes out??
    I bought a some more the last couple of weeks.
    Up to 1.5

    May 22, 2021 22:57 PM

    It hilarious to see commie swamp-dwellers Summers and Krugman promoting Bitcoin as an alternative to gold when they should be doing the opposite at this time. I’ll have to send them Thank You cards, pink ones, of course.

      May 22, 2021 22:11 PM

      Summers is parroting the same nonsense that the crypto community has for years, that Bitcoin is Gold 2.0, that it is more “scarce”, more “hard”, more “secure”, and a better “store of value.’

      Of course those same people ignore the gut wrenching 50-80% sell-offs and volatility that Bitcoin can have out of nowhere, or that they got creamed a few times on market jitters where gold held its own. Even last year when the pandemic crash hit all the sectors in the market, there were a few days where Gold sold off 3% on the day and Bitcoin had sold off 12%-25% on the day. It is nowhere close to Gold in preserving purchasing power or weathering turbulent periods in the market.


      From that article above:

      “Former U.S. Treasury Secretary Lawrence Summers said cryptocurrencies could stay a feature of global markets as something akin to “digital gold,” even if their importance in economies will remain limited.”

      Speaking at the end of a week in which Bitcoin whipsawed, Summers told Bloomberg Television’s “Wall Street Week” with David Westin that cryptocurrencies offered an alternative to gold for those seeking an asset “separate and apart from the day-to-day workings of governments.”“Gold has been a primary asset of that kind for a long time,” said Summers, a paid contributor to Bloomberg. “Crypto has a chance of becoming an agreed form that people who are looking for safety hold wealth in. My guess is that crypto is here to stay, and probably here to stay as a kind of digital gold.”

        May 22, 2021 22:23 PM

        Even though it’s a peer-to-peer exchange of info on the digital ledger, it is no accident that the computer bits being transferred were referred to as a “Coin” for Bitcoin or the Altcoins, or that the act of doing the proof of work to solve the mathematical algorithm is called “Mining.”

        What is ironic and tragically humorous, is that a cult of personality, like Elon Musk, can send out a tweet that moves the whole sector by double digit percentages, or when China just put the kibosh on Bitcoin as a payment method and cracked down on the crypto miners in their country, that the cryptos crashed by 50-60% in a few weeks.

        For Gold, no celebrity is going to move it double digits via a tweet, and even when a Central Bank comes out and makes some comments on serious monetary policy decisions, it may make the yellow metal move 2-3% versus just 1%.

        Also, if one country said it was going to block the mining activity in Gold, then it would send the prices higher, as the material would get more scarce, not send it crashing down lower. We just saw this in Copper with all the leftist issues that Chile and Peru have been having around mining, as 2 of the larger producing countries.

        The reason Bitcoin and Ethereum and the other altcoins crashed due to the mining news, is that if they can’t mine and verify on the network, it cripples the system to a degree. That doesn’t happen in traditional mining, and it is the opposite… if traditional commodity mines get blocked then that commodity goes up in pricing.


          May 22, 2021 22:30 PM

          I’m not sure what that “Wh” was at the end, but maybe it stood for the HODL’ers really being “Weak Hands” when the poop really hits the fan… 🙂

    May 22, 2021 22:44 PM

    Is Rick Rule Wrong? Are Gold & Silver Stocks Really Overbought?

    Soar Financial – May 21, 2021

    “We welcome Trevor Hall of Mining Stock Daily and Erik Wetterling, The Hedgeless Horseman, to discuss whether Gold & Silver Stocks Are Overbought for #SFLive Ep 185”

      May 23, 2021 23:49 AM

      What was the 2nd company that Erik mentioned…. I had to replay it three times just to get the other 2

        May 23, 2021 23:16 AM

        Erik mentioned (MFG) Mairfair Gold, Rokmaster Resources (RKR), and Eloro Resources (ELO).

        Cory had an interview about a month back with RKR if you are interested. People need to keep tabs on all the company interviews that happen here on the KER.

        Of those 3 Erik mentioned I only hold (ELO) Eloro Resources, and I think they may be really onto something with those recent Tin results mixed in with the Silver, and may be onto a monster deposit in Bolivia.

          May 23, 2021 23:22 AM

          Trevor mentioned (AUL) Aurelius Minerals, (RDG) Ridgeline Minerals, (NCAU) Newcore Gold, (FWZ) Fireweed Zinc, and (ITR) Integra Resources.

          Of those I hold 2 of them (NCAU) Newcore Gold and (ITR) Integra Resources. I follow Fireweed and Ridgeline as well.

          Again, Cory has had Newcore, Fireweed, and Ridgline on the show a few times, and Jayant Bandari just mentioned in his Friday interview here why he is also bullish on NewCore Gold.

          Here is the most recent interview Cory did with NewCore Gold just last week on Thrusday.

          May 23, 2021 23:52 AM

          Thanks Ex. Hard to understand Erik sometimes. All 3 sounded interesting. First 2 being Canadian is a factor for me. South American plays scare me right now.

            May 23, 2021 23:11 AM

            Understood. Mayfair (MFG) looks interesting that Erik mentioned.

            Personally, I’m willing to go into riskier jurisdictions if the resource prize is worth the candle, and have done quite well investing in the “riskier” jursidictions.

            In my portfolio some of the best gains have been in the Silver miners in Mexico, even when many were concerned about cartels and taxes. I’ve done well in West Africa for years in Gold miners when many wouldn’t touch them when they see the word Africa. A few years back there were great returns in Papua New Guinea with K92, and I’m still bullish on Lion One in Fiji where most shy away.

            As for South America, sure it is risky, but so is the US, Canada, or Australia in many local jurisdictions that block mining projects, or slow walk permits, so there is no perfect jurisdiction. I’ve made a nice chunk of change in Jaguar Mining in Brazil, made a bit on SolGold in Ecuador, did well with Mako Mining in Nicaragua, have been upping my position in Calibre Mining lately since they are just killing it in Nicaragua, and hold Silvercrest in China (which many are afraid of) who has a large stake in the Bolivian silver explorer New Pacific Metals. When I saw the Tin numbers mixed with the Silver grades that Eloro Resources just unearthed, I believe they have the potential of finding a true Tier 1 deposit, so I’m willing to take the South American risk. What worries more more in South America now is Chile and Peru. I do have some exposure to both countries at present, but am not looking to take on more exposure to either country right now unless things change, or unless the deposit is so amazing that it’s worth the gamble.

            May 23, 2021 23:12 AM

            Correction: That should have said Silvercorp, not Silvercrest. (although I do own both)

      May 24, 2021 24:40 AM

      Gold & Gold Stocks Gaining in Real Terms

      May 21, 2021 Jordan Roy-Byrne CMT, MFTA

      “This week both Gold and gold stocks (GDX) surpassed the upper end of our rebound targets at $1850 and $38.”

      “However, precious metals gaining in real terms and showing relative strength against other markets was more meaningful.”

      “Gold traded as high as $1891 on the week but, relative to Bonds confirmed a major breakout to a 6-year high. In addition, Gold against the stock market has a chance to emerge from a major low.”

    May 23, 2021 23:36 AM

    One thing is sure, investment advisors who are highly regarded in the inner circles of Wall Street will never warn their clients of future trouble in the conventional stock markets. Even to express an opinion that the trend of common stock prices over the next few months will be towards lower levels, could cause a Market Crash and not just a murmur like what I would expect in the precious metal markets. The conventional markets are loaded with unsold securities that have remained buoyant only because of government interference and buying. DT

    May 23, 2021 23:47 AM
    May 23, 2021 23:48 AM

    I agree with Eric THH that you need to take stock of individual players, Pure Gold for instance was in a downtrend until just under three weeks ago, I still see a lot of value as that is when I did my buying after exiting completely at much higher levels.

      May 23, 2021 23:14 AM

      +1 Agreed DT.

    May 23, 2021 23:59 AM

    Thanks for the GGO chart Matt!
    I had the same type of position in Maple Gold a year back and it went from 5/6 cent area all the way up to 40 cents.(with a 1.4 million resource)
    Im hoping GGO with not only have a stronger run but a far better resource as well!!
    We will soon find out!
    Enjoy the rest of your weekend.

    May 23, 2021 23:55 PM

    Gareth’s has had interesting comments in past interviews, that he’s done on different outlets, but I was really impressed by this interview, about 1/3 of the way in and then all the way to the end.

    He gets into how to approach trading based on one’s time and focus from longer term value investing, to swing trading, to day trading. He discussed the importance of technical analysis, avoiding chasing, being diversified and not having an overly concentrated speculative position, and is sector agnostic. They get into contrarian investing (like betting on Chinese stocks after the smash) Viacom, the Bitcoin crash and how to trade it, the Gold space where he is longer term bullish (but expecting a short-term pullback), and then he and Jay get into the Commodities, Battery Metals, and Clean Energy space.


    Did Big Banks Leave Retail Investors Holding the Bag in 2021 – Stocks and Bitcoin – Gareth Soloway

    Jay Martin, Cambridge House – May 20, 2021

      May 24, 2021 24:08 PM

      After listening to Gareth’s points on the clean energy space and taking a closer look at his pick in the solar area of Array Technologies Inc (ARRY), after it has pulled back so much, then I decided to put in a starter position on it today into the continued weakness.

    May 23, 2021 23:56 PM

    another scam….

    May 23, 2021 23:07 PM

    Sounds like we will all be paying for other’s crypto addiction and gambling behaviors soon. Credit card companies such as MC will soon offer up to 3% cash back in the form of the crypto of your choice. Sounds fun! Great. Now when we pay cash we can know that the added cost to purchases will help fuel the madness.

    May 24, 2021 24:33 AM

    Dogeecoin now down 60% from recent high, DOGGY, DOGGY, WOOF, WOOF! DT

      May 24, 2021 24:41 AM

      Mencken said and like Matthew points out, ” You cannot fully enjoy a zoo if you have been led to think of it as the home of an enlightened citizenry. DT

      May 24, 2021 24:42 AM

      Good point DT. I wonder if Elon Musk is still claiming to be “The Dogefather.”

    May 24, 2021 24:24 AM
    May 24, 2021 24:50 AM

    Nice pop in ESKYF !!

    May 24, 2021 24:37 AM

    I can’t tell what’s going on in my Schwab account except they need a new programmer. All but 3 stocks are shown as todays price N/A. Not sure how much that is. After research of several sites, I took some profits in Vizsla at a sell price higher than the Schwab Ask. I then bought some more Emerita at a price below the OTC Bid as nothing would happen at the Schwab Ask. It is good I have to go to the Dentist.