A Focus On Silver And Silver Mining Stocks
Jordan Roy-Byrne, Editor & Publisher of The Daily Gold, joins us to discuss the precious metals markets, with more of a focus on silver and the silver mining stocks. We start off by getting the price levels Jordan is watching in silver for support and resistance, and the longer term bull flag pattern that could be setting up. Next we discuss the muted moves in the silver producers in relation to the higher range the silver metals price has been in, and the factors that may be driving investor reluctance to push them much higher. We wrap up with some thoughts on potential M&A in both the gold and silver sector as producers continue to generate revenues, and the pricing divergence between the seniors and juniors that Jordan is looking for, in a rebounding metals price environment.
Hi Ex, I have been watching Group Ten Metals, that is one stock that looks ready to spring higher. I think I will add some more tomorrow, it is sitting on a volcano that is about to surprise the wary.
DT, ORV looks better than PGE. Check it out.
ORV and PGE are apples and oranges as far as a comparison.
Orvana is a mid-tier multi-mine gold/silver/copper producer with projects in Spain, Bolivia, and Argentina.
Group Ten Metals is a palladium/platinum/nickel/copper/cobalt/gold explorer in Montana, USA.
Didn’t Orvana just have a pit wall collapse or something like that at one of their mines?
Yeah, found it. Here’s that link and summary on Orvana’s recent news. Yikes!
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Orvana Reports El Valle Plant Temporary Stoppage
16 Aug 2021
“Orvana Minerals Corp. (TSX: ORV -6.33%) announces that a rock fall has occurred at a legacy open pit wall at El Valle. The fallen material impacted the east sector of the Tailings Storage Facility, without structural damages.”
“The legacy open pit wall sector, where the failure occurred, has been under review in the past, which caused the relocation of a district road running at the top of wall in question. The Company is working, with dedicated internal and external teams, to design a definitive geotechnical wall treatment for the long term, now that the district road has been finally relocated.”
https://ceo.ca/@newswire/orvana-reports-el-valle-plant-temporary-stoppage-63aff
Didn’t hear about any recent accidents at ORV but I heard a truck backed into a porta potty over at PGE.
Yeah… OK. The link about the recent pitwall collapse Orvana is right above Terry… plain as day.
It says in their press release that that “the legacy open pit wall sector, where the failure occurred, has been under review in the past…”
Looks like their team should have reviewed it a bit closer…
Hi Terry, it would be nice if you could provide the other posters with a bit of infill, so you like Orvana Minerals Corp, WHY?
DT, check below where I posted a few words. Unlike Ex, who is prolific and does a hell good job for yous, I just don’t have the energy or inclination.
There are just too many holes in the ground with little reaching the surface with many of these explorers so I prefer companies with actuually have products to show for your investment.
Hi DT. Yes, I’m also still very constructive on Group Ten Metals, and am awaiting the results from their current 10,000 meter drill program at Stillwater West project. With them being adjacent to Sibanye’s Stillwater mine, (the natural suitor for Group Ten down the road), then I’m sure they’ll also be watching these results with keen interest.
I’m not sure if you listened to John Feneck’s interview from last Friday, also featured again on the weekend show, but he mentioned PGE as one of his 2 big Palladium picks (as someone that used to research and write about Palladium for Sprott).
> PGE sure had a nice pop higher today, up 12.86%.
Group Ten put out a tweet earlier today on the technical set up on the chart, where the recent move in the price action has broken above both the 50 day SMA and 100 day SMA, so that is also encouraging.
https://twitter.com/GroupTenMetals/status/1433153931744534528
DT – We just had Mike Rowley, the CEO for Group Ten, here on the KE Report on July 29th about a month back, and nobody commented on that blog. I was thinking you and David and a few other people had expressed interest in the company here on the blog before, but then we brought them on and it was crickets… Haha!
In case you missed that interview here is a link to that update from PGE.
Hi Ex, I just listened again to your interview on July 29th, it was another light bulb going off again, what can you expect from an electrician. At the time I believe I bought some more shares of PGE, but this summer I was watching the activity in Newfoundland so I got distracted, however now Group Ten has my attention. I think there will be a news release soon and others in my family that have bought this stock will be really happy. I need to redeploy some capital. $$$$$$$$$$
Nice DT. Glad it was helpful, and helped a light bulb go off. Yes, I remember earlier in the year that you were rotating into the area play stocks in Newfoundland, which were another “bright” spot this year, and that was a solid call on your part.
We’ll see how things go with the current drill program, but I’m anticipating that they’ll keep hitting paydirt like they did last year, and this year’s program is their largest to date. Also since that interview, and true to his word, Mike and the team at Group Ten have now optioned their non-core Black Lake-Drayton Gold Project in Ontario to Heritage Mining. That’s the property that is adjacent to Treasury Metals land package, and they were wise to get things moving on it with a partner that can earn in up to 90% on it, since it isn’t their main project and they are keeping their focus on Stillwater West.
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Group Ten Metals Signs Binding Letter of Intent on the Black Lake-Drayton Gold Project in Ontario, Canada
23 Aug 2021
“Under the terms of the binding LOI, Heritage may acquire a 90% undivided interest in the Property by making payments totaling 7.2 million shares and CAD $320,000 in cash to Group Ten, completing exploration and development work totaling CAD $5 million on the Property, granting Group Ten a 10% carried interest in the Property through completion of a feasibility study, and completing other requirements including potential success-based discovery payments.”
https://ceo.ca/@accesswire/group-ten-metals-signs-binding-letter-of-intent-on
(PGE) (PGEZF) Group Ten Metals – Maiden 43-101 Nickel-PGE Resource Update
Proven & Probable – August 30, 2021
https://provenandprobable.com/group-ten-metals-maiden-43-101-nickel-pge-resource-update/
For those that don’t like reading the transcripts or looking at the maps, this is a video version of the audio interview linked above, that still has some slides intermixed.
Actually that one above was the setup from yesterday going into today, but this video here is more current for going into Silver trading tomorrow.
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Silver Technical Analysis for September 02, 2021 #VIDEO
by FXEmpire
…and here is the FX Empire TA video for gold moving into tomorrow:
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Gold Technical Analysis for September 02, 2021 #VIDEO
by FXEmpire
Gold Update – Looking For Follow Through
Smart Money Tracker – Gary Savage – August 31, 2021
Silver Miners’ Q2 2021 Fundamentals
Adam Hamilton – Zeal Intelligence | August 27, 2021
“The silver miners’ stocks have been pounded lower this summer, collateral damage from gold’s selloff on distant-future-Fed-rate-hikes fears. That has devastated this tiny contrarian sector’s psychology, leaving it mired in deep bearishness. But that dark sentiment pall certainly isn’t justified fundamentally based on these companies’ recently-reported Q2’21 operational and financial results, which proved outstanding.”
“The silver stocks were enjoying a nice young upleg from late March to early June, with SIL rallying 27.5%. That would’ve continued powering higher if not for an anomalous event slamming gold. The mid-June FOMC meeting unleashed frenzied gold-futures selling. The Fed didn’t start slowing its massive $120b per month of quantitative-easing money printing, nor did it start hiking rates from their zero-lower-bound.”
https://www.mining.com/web/silver-miners-q2-2021-fundamentals/
(IAG) (IMG) IAMGOLD Halts Transport To And From Burkina Faso Mine After Attack
Cecilia Jamasmie – September 1, 2021 #JurisdictionRisk
“Canada’s IAMGOLD has suspended convoys to and from its Essakane gold mine in Burkina Faso near the border with Niger, after gunmen attacked a convoy travelling to the operation on Tuesday.”
“Militant violence in Burkina Faso, Niger, and Mali has increased in recent years despite the presence of the United Nations and interventions by regional and Western troops.”
https://www.mining.com/iamgold-halts-transport-to-and-from-burkina-faso-mine-after-attack/
We’ll see how it goes for WAF:AX this AM in Sydney. It’s properties are in that area, as well as others.
Yeah, this is not very good news for IAMGOLD, nor is it good news for that part of Burkina Faso. I have a little exposure to Burkina Faso, but not in that part of the country on the border of Niger, and not very much exposure now that I sold my Roxgold position on the news that Fortuna was taking them over. It was a great run in ROXG, but I just didn’t understand the synergies of the merger with FSM.
Sold all my Endeavour shares. Boungou is also close to Niger
Bad news for Essakane is a disaster for IAMGOLD. It is their main production asset with 400.000 ounces / year
IAMGOLD seems to be a steady producer of bad news
Agreed Thomas. I’ve never been overly impressed with IAMGOLD, but am sorry that they are dealing with this attack, and they can’t seem to get a break lately.
It is likely a good plan to reduce exposure to that Northern part of Burkina Faso and the border on Niger from a jurisdiction risk standpoint, so good plan there.
In the past I was much more invested much further south in Burkina Faso along the Hounde Belt with companies like Gryphon (taken over), Teranga (taken over), Sarama (I thought they’d get taken over, but instead Semafo went after their JV partners Savary), Roxgold (just taken over).
Now my only exposure to Burkina Faso is through Orezone with their Bombore deposit, but it is more in the south central are of the country, and I believe they’ll be the next Burkina company to get taken over, and have been on one heck of a good run the last few years.
I also have a small position in Thor Explorations and while they are most focused on their recent move as Africa’s newest gold producer in Nigeria (not Niger), and they have a big development project in Senegal, they do have a 3rd non-core exploration project in Burkina Faso, but luckily its also further south on that Hounde Belt, away from all the attacks in the north, and sandwiched between the old Gold Hill project of Teranga and Karankasso project from Semafo (both of which were absorbed by Endeavour Mining last year).
This is an old map, but you can see where some of these deposits are mentioned above (like Gryphon’s old Banfora deposit, True Gold’s old Karma deposit which I was also in but it was taken over a number of years back, Orezone’s Bombore deposit, and then much further north one can see the IAMGOLD’s Essakane project on the border with Niger).
Here’s a somewhat new map of Burkina Faso zoomed in on the prolific Hounde Belt mentioned above, and one can see where Thor’s Central Hounde project is in relation to Semafo’s Karankasso and Teranga’s Gold Hill (which are both now gobbled up by Endeavour Mining). Roxgold’s Yaramoko deposit is also on the northern part of the belt shown on this map.
https://thorexpl.com/site/assets/files/1349/central_houde_fig_1_324x0-is-pid1349.png
As mentioned, my main exposure left in Burkina Faso through (ORE) Orezone, and I’ve reduced down my position by 25% in late May and 25% in early July, I still have 50% of the position in place for them to build their mine and become Africa’s next producer, or to see if one of the big boys comes in to take them over.
ORE has actually had a decent-sized 40% correction off it’s high this June, so it is actually looking much more attractive to accumulate again, and one I’ve been mulling over the last few weeks but not taken any action on at this point. This recent news doesn’t give me a big reason to increase my exposure to Burkina Faso, but Bombore is pretty far removed from all the fighting in the north, in a safer area, and seems to be proceeding with development well on a high-quality deposit. It’s tempting to add a bit to it here, now that it’s been beaten down so much the last 3 months.
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(ORE) (ORZCF) Orezone – Building Burkina Faso’s Next Gold Mine [Bombore’]
https://orezone.com/site/assets/files/5563/orezone_corporate_presentation_august_26.pdf
Bullish call today on energing markets and Chinese ETFs
EEM, ASHR, KWEB
CWEB was also up nicely today closing at $25.15 up +2.24 (+9.78%). In afterhours trading it moved up another $.09 (.36%), enough to take CWEB up over 10% on the day.
PGE & ORV have similar market caps with ORV being a producer, making profits, while PGE is a scruffy little mutt explorer with a dream in their head and making losses.
The ORV rock fall looks like an overblown buying opportunity.
Yes, ORV is a producer, and normally on a comparable market cap, I’d agree with you that a producer is the safer bet, and maybe it is. However, with the both in the $50 – $60 Million market cap range, neither are that pricey at current levels compared to bloated market caps we see in many other companies these days.
We’ll have to disagree on your put down calling PGE a “scruffy little mutt explorer with a dream in their head.” They’ve already demonstrated to the market that they had some of the better Palladium/Platinum/Rhodium/Nickel/Copper/Cobalt polymetallic drill hits of any company last year. (far from a mutt or a dream…)
Terry, this is the 3rd company just this week you’ve labeled as “mutt,” but you never give any rationale for this swipe against these companies, and honestly don’t seem to truly understand the companies you knock. Nor do you provide any context with data and research for why you are bestowing them with the title of mutt fundamentally.
Conversely, you are recommending ORV up above in this thread as the better choice than PGE, and didn’t even know their pit wall had collapsed at one of their mines, which is pretty substantial news release. I don’t wish that kind of news on any mining company, and hopefully they get it resolved soon, but that’s kind of a key development with that company. Maybe it is being overblown by the market and with them down over 6% again today, maybe it is a good buying opportunity.
Again, really they are apples and oranges, and not really peers or comparable in most senses (they are different on stage of company, jurisdiction, commodities in focus), as previously outlined.
Here is a fairly recent write up from Bob Moriarty on Group Ten from back in May, where he makes a number of cogent points. Clearly Bob doesn’t think PGE is a “mutt,” and I value his in-depth analysis more than just a passing comment that this company just has a dream…
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Group Ten Drills Rhodium Worth $868 a Gram
Bob Moriarty – May 20, 2021
“Group Ten Metals (PGE-V) is one of the hardest companies to explain that I have ever written about yet has an incredible potential that the stock market is utterly clueless about. A large part of that is because there are so few platinum group metals companies out there telling the story. Let me see what I can do.”
“Group Ten’s primary project is the Stillwater West prospect adjoining the three Sibanye-Stillwater’s three PGE mines in Montana. If you look at the map below it will give you some idea of the relationship between the two land positions. Basically PGE has 25 km of strike of the same material as Sibanye-Stillwater.”
The J-M Reef shown in the map has over 80 million ounces of high-grade platinum and palladium with minor rhodium credits that contribute 25% of the profit to Sibanye-Stillwater now. The company has already produced over 14 million ounces of platinum/palladium. Because PGE hasn’t come out with a resource yet, investors have nothing to hang a hook on to figure out the value of what they have. Group Ten picked up Stillwater West in 2017 just after Sibanye paid $2 billion USD for the Stillwater property and three mines. That should give investors some idea of the potential.
The company pulled a massive coup in April when they announced the appointment of Gordon Toll to the board as an independent director. Gordon was Deputy Chairman of Ivanhoe Mines and Chairman of Fortescue Metals Group. He has been directly involved with raising over $5 billion USD over his fifty year career.
Group Ten holds a 61 square km land position at Stillwater with 54 km in the Stillwater West project and an additional 7 square km in the Stillwater East property picked up in January of 2021. They own 100% of the project subject to a 2% NSR. There has been a total of over 31,000 meters of drilling done at Stillwater West since the 1960s. There has been 13,000 meters of drilling since 2002 that PGE has access to. They have drilled about 4,600 meters in 20 holes over the past two seasons. This year’s program calls for 2-3 drills doing a 10,000-meter drill program over the top three resource targets.
The overall Stillwater Complex is a 2.7 billion year old mafic-ultramafic similar in geology and mineralogy to that of the Bushveld Complex in South Africa. Prior exploration on the part of PGE reveals eight different “Platreef-style” PGE-Ni-Cu targets with signatures similar to that of large bodies of massive to disseminated sulphides. These targets show elevated palladium, platinum, rhodium, gold, nickel, copper and chromium values in both soils and rock samples.”
“Since the price of rhodium has shot to the moon, PGE has gone back and submitted samples for assays to determine rhodium values. Those numbers just out show that at current prices, rhodium adds significant value to the total metal contained. I’ll be really candid here. I was telling people to buy rhodium when it was $600 an ounce because it was cheap. It is not cheap at $27,000. Either platinum, palladium and gold go way up from here or rhodium drops a lot. The prices for each of the metals don’t align logically at present. But when an NFT of a fart is worth $85, who knows what anything is worth?”
“Group Ten is especially well cashed up with about $3 million in the bank. There is another $11 million in the form of in-the-money warrants. Currently the company is in discussions with warrant holders to see if they will consider early exercise. Until the company releases the results of a 43-101 resource calculation set for July-August, there will be an overhang on the share price based on over 41 million warrants with an average exercise price of about $.27. It’s perfectly natural for many investors to want to sell shares at the market to exercise deep in the money warrants.”
“After the warrant overhang is sorted and a 43-101 resource released, I expect much higher prices. I’m just guessing based on the assay numbers I have seen but something above 2 million ounces of Pt-Pd-Rh-Au seems reasonable along with 500 million pounds of nickel and copper in the initial 43-101. If the three mines in the Stillwater property were worth $2 billion at far lower prices for palladium and rhodium three years ago it seems reasonable to me that Group Ten should be worth a lot more than $58 million when they are only 500 meters down stratigraphy from them.”
http://www.321gold.com/editorials/moriarty/moriarty052021.html
My personal interest in the company came as someone that has followed the Platinum and Palladium miners for about a decade now, and for a few years I was a happy shareholder of (SWC) Stillwater in Montana, and was actually a bit sad to see them get taken over by (SBGL) Sibanye a few years back, but they’ve done and excellent job with this key asset for their company.
When I realized about 3 years ago that Group Ten was exploring for PGMs right next to the Stillwater complex in Montana it immediately got my attention, because that area is one of the more prolific areas for Palladium and Platinum in North America, with most of the resources being in either South Africa or Russia (not nearly as compelling of jurisdictions).
The difference with Group Ten’s Stillwater West deposit is that it is a platreef style of deposit, like the ones that Ivanhoe Mines and Platinum Group Metals have in South Africa on the Bushfeld complex, but it is in Montana, USA. Those kinds of deposits are typically huge and very well endowed, so that got me even more interested.
I started buying Group Ten Metals in January of 2018 through May of 2018 in 3 tranches, added 4 more tranches in Jan 2020-July 2020 and then trimmed some back in August and December of last year. I’ve added back 4 more tranches this year, and it is my largest position in the palladium/platinum space now, even though I owned 6 other PGM companies earlier in the year that all had nice runs of their own.
John Feneck, who we had on the KE Report on Friday, and featured again on the weekend show highlighted Group Ten Metals as one of his top 2 picks in the Palladium space, and he used to research and write about the sector for Sprott, so he knows what he is talking about.
I guess I feel very comfortable in the company of Bob Moriarty and John Feneck on this little “mutt with a dream…” 😉
Isn’t John Feneck more of a sell side guy, promoting stocks for the benefit of companies rather than finding good investments for buyers? A guy who has stayed in 2000 of the finest hotels and been on 25 or more great cruises!
Look at these essays by Ex. He interviews guys, then later it’s copied and pasted here and has now become the TRUTH. Other bits and pieces from various sources are added to bulk up the essay and give it legitimacy…good scholarship.
Let’s take a look at John Feneck’s top recommendation, USAU. He says there are only 7M shares out, which is true, and he knows where 4M of those shares reside, implying that maybe only 3M are available. He doesn’t mention that in April, 2021, only four months ago the company approved the issue of 200,000,000 more shares.
Buyer Beware is all I’m saying.
Terry, once again, instead of dealing with any of the facts on the companies, you dodge all of the related info (press releases from the company, interviews with the CEO, and analysis by others) that completely dismantled your nonsensical “mutt” labels which were of zero value.
Just like with prior companies discussed, you deflect any of the information on the company, and instead just make ad hominem attacks on people. My posts provided you or anyone with with great info on these companies, but you won’t address that. Instead you weasel your way out of discussing any of the fundamentals on a company (knowing you don’t have a grasp on them) and focus on insulting people instead. You ignore the message, and focus your time instead on shooting down the messenger. What a real asset you are for us all. It’s sad to see really.
John Feneck just covered what he did for investors in the interview with Feneck consulting with providing investors with his trade alerts with 5-6 messages per day on what he is doing in the markets, and he talked about the newly launched more basic weekly newsletter he puts out for investors. He also will analyze investors portfolios and offer his thoughts, so you got it wrong once again.
Then again, you got what I posted wrong as well, so that shouldn’t be a surprise. Either you have a reading issue or a comprehension issue (or maybe both).
I clearly referenced above what was Bob Moriarty’s piece and put it in quotes, and that “essay” was his not mine. I cut and pasted that, and clearly noted the source, date, and put quotes on it like I always do if from another source.
When I cut & paste info here, it is because this is forum of exchanging ideas, and mostly because people are too lazy to go do their own research. I cut and past the news or the CEO actually said about their projects or company in interviews to counterbalance the disinformation when people spout off zero-value nonsense and bashing like you do, without any substance or data, to supply the actual fundamental details.
Most wise investors would actually be appreciative of a seasoned investor curating a bunch of research for them, and actually read over the news releases, review the company interviews to get the actual facts of what the company is working on, and would get value from analysis from people like Bob Moriarty or John Feneck (with decades of experience).
After digesting all that and doing their own due diligence, then they’d see if there are any remaining red flags to ask about, balanced against the overall fundamental picture. People don’t need to necessarily agree with everything they read, or hear, or watch, and having a healthy skepticism in the resource space is helpful. Having said that, some folks throw out the baby with the bathwater on almost all companies too hastily, and many of the trolls and bashers have unwarranted skepticism or slam a company that they don’t really have any grasp on at all. These bottom dwellers in the investment community just get off on some weird payoff by just insulting people or companies. Sound familiar?
In my personal opinion posts, where I share my personal trading or my take on things, there is no source, date, or quotes, and I didn’t put in anyone else’s work and thoughts “to bulk it up”. I need zero help bulking up anything. It’s a chat forum and people are encouraged to share their research, opinions, chart set ups, or other sources of data for the community to bounce ideas off one another. Pretty simple concept.
So get it right buddy, I provided company press releases, interviews with the CEO, articles from others, and then in separate posts my own unique thoughts. If you can’t read, comprehend, and learn from other, then that’s on you. If you can’t share meaningful info or contribute to the community, and are only here to stir up trouble, whine, and bash, then maybe this isn’t the right place for you.
Skeena Files Prefeasibility Study Technical Report for Eskay Creek
1 Sep 2021
“Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) is pleased to announce that it has filed on SEDAR the independent NI 43-101 Prefeasibility Study (“PFS”) Technical Report for the Eskay Creek gold-silver project.”
https://ceo.ca/@accesswire/skeena-files-prefeasibility-study-technical-report
How is the weather and economy today in the alternative universe? You are cery firtunate if you live there.
firtunate = fortunate
Not sure if that is correct spelling. It could be correct in the AU.
False economic data and rigged markets continue.
Vizsla good drill results today. I hope they don’t go down.
Hurricane is a fiction to data.
Vizsla just went negative. Probably not its up day in the rotation.
there is a message with vizsla and others with weekly pumped up results and muted or negative reaction with share price. STAY AWAY. For the promoters it’s like putting cheese in a mouse trap, over and over again.
Meanwhile the much-maligned spx keeps moving along the proverbial road to disaster.
Best to sit and watch for some tangible sign of change in trend.
I prefer to believe aberrant behavior if the miners is due to intervention by those that have destroyed the economy…ie: the Fed, Wall Street, Politicians and special interests. The fix is restore the legal system recognizing no one is “special”. I see no one is immune from the law and no one should tolerate any form of immunity unless it is to enforce the laws.
david, in violent agreement with your post that no one should be immune from the law. The problem is, those in charge at any point in time, need the law to justify their political ends to sustain their power. Principally by stacking the judiciary not on the principle of objective neutrality but a political ideology, further fueling the intensified U.S. civil war as there is no confidence with the rule of law you speak of.
Restore is the operative word.
“The Markets take the greatest amount of money from the largest number of people in the least amount of time.” ~ Tom O’Brien
Good quote BDC. That’s why most people shouldn’t really be investing their own money, although many funds don’t beat the indexes either. Maybe folks are correct to just let the quant computers and algos do the trading for most people.
Yes, and “buy & hold” should be understood for the disease it is
… greatest recorded rendition of Beethoven’s famous 5th:
https://www.youtube.com/watch?v=Wh_YURRJjqw
long LXRX
There has been nothing bearish about the pullback in the miners this week and I suspect that SILJ will acquire and close above its daily chart P pivot (13.47) very soon. Today’s low happened 3 cents above its 30 minute to 240 minute P pivot.
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=0&mn=6&dy=0&id=p38490738532
This week has been “quiet” and low volume but perfectly bullish as the miners have consolidated last week’s move as the summer comes to an end (an end for investors, that is). I’m guessing next week will be good and the following week will be better.
https://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=6&mn=11&dy=0&id=p90676733863&a=932577265
Agreed Matthew, and I’m looking for a bit more life and volume and focus from investors coming into next week, after the long holiday weekend (which for many mentally marks the end of summer and traveling), and back to a more regular schedule.
There is often the “quiet before the storm.”
Thanks for the charts and for the contributions, as per usual. Cheers!
Silver closed below fork resistance yesterday so today’s weakness should come as no surprise. Sentiment is still bad and that is good for the bullish case.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=3&dy=0&id=p52693723093&a=1006592642
The miners are getting ready to outperform stocks for many months.
GDX:DIA
https://stockcharts.com/h-sc/ui?s=GDX%3ADIA&p=W&yr=3&mn=7&dy=0&id=p29791525685&a=963421030
It could still be weeks before silver is able to consistently and significantly outperform gold but that doesn’t mean that it will be performing poorly versus the dollar in the meantime.
SLV:GLD
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=W&yr=8&mn=0&dy=0&id=p57929656606&a=1018957053
Michele Schneider doesn’t strike me as a perma-gold-bull calling “to da moon”, but she is saying 300 for GLD.
When pressed for a timeframe, she came back with Q1 2022
Nice !
EX./SHAD……. always does a great job…… and has for , heck, since the beginning of this BLOG….. some 18 yrs..?
HANG IN THERE …..EX, … You are doing GREAT IN MY BOOK…
Thanks for that post OOTB… it is much appreciated after some of the nonsense we are getting the last few weeks.
There are some days where I question why I even bother to try and help, but have always done my best to invest in our community, in sharing my own ideas, but much more importantly, by bringing in other points of view from other thought leaders, news, charts, and insights to mull over.
OOTB – I have always appreciated your input, positive disposition, and desire to help share and inform others here along with the all the contributors here with the KER Crew.
Ever Upward!
Ex..The “ nonsence “ usually appear at or very near a bottom…..according to my husband.Time will tell !!
Great point Ann, and your husband is correct. We were having a chat with the Hedgeless Horseman earlier and he was noticing the same thing and trolling was up on his site and many of the company rooms in a big way.
At the bottom, after a prolonged corrective move, the negativity increases, the bashers feel emboldened since things have sold off, and the blame game and insults from trolls multiply. Then when things take off and start screaming higher magically these folks disappear… Looking forward to getting the next upleg underway. 🙂
Thank you Ex…. As I have said before…. Sharing is caring, and we learn a lot from others ,
with great expertise…
+1 Bingo. Keep on keeping on amigo, and your kind words came at a good time, so thanks again.
No problem…. I always appreciate and remember your support, so, you deserve the same as far as I am concerned…
Matthew is back from the Bear Hunt….
Now if we can get him to cook it rather than eat it raw.
Nice BDC. Let me test it here:
Well – look at that…. Thanks!
Note that cutting the original link at “?” has the same effect.
That is also interesting, but the ? didn’t come until the second line of characters, so that still would have been a pretty long link. I like the tiny url concept better, and had seen that a while back but forget about it, but appreciate the heads up.
You always have such great technical tips. For example, we’ve been running the audio through the low pass filter in Audacity ever since that heads up. Cheers!
Thank you Matthew for these concise, helpful takes on what you see is going on.
thank you, Matthew for the charts
+1
+2
Thanks for the input Matthew…I look at the never ending pattern that my miners have taken for the last year and lose sight of the fact there actually might be an upside in our future. I just sit around polishing and sharpening my pitchfork.
david, keep sharpening your pitchfork just don’t put it into any gold stocks till they’re well done. LOL
I am always afraid I will sit on it…
Lol… good one….
EX: Thanks for the good update on Group Ten. I still hold a decent position of Group Ten and keep thinking this one will be a winner when the snow melts and the sun shines down on the miners. Good stuff.
Thanks David. The interviews with the CEO of Group Ten, Mike Rowley, above from Proven & Probable, and that he did with us at the KE Report put things into perspective in a big way, and I’m glad they were able to option off the Black Lake/Drayton non-core property and have all that bonus upside as Heritage starts exploring that project (next to Treasury).
They’ll have a maiden resource estimate coming out in the next month, that should raise a few eyebrows and demonstrate how prolific the palladium/platinum/nickel/copper/cobalt/gold platreef style deposit it along their massive property, adjacent to the world-class Stillwater complex.
PGE is also ungoing a 10,000 meter drill program (their largest to date) and those results won’t be in the maiden resource, so they’ll be pure expansion for the update coming in 2022. We’ll be watching for that news with keen interest.
I get the feeling that Group Ten and others have been holding off with the “big news” until they see a favorable trend in the miners.
Today was another no trading day for me where my offsetting miners ended the day up $361.61. I guess that is better than being down $361.61. Waiting for the fun to start and begin buying this and selling that is back in fashion. This watching the paint dry every day is probably good for promoting gardening, but still not as much fun as trading daily.
Well many companies, like Group Ten are still drilling, and then the thing we keep hearing from the companies we talk with daily (many of which don’t have segments that get posted) is that there are horrendous delays from the assay labs. We’re hearing 6 weeks to 12 weeks, and some companies need to get back some before they can complete other holes. It’s a real train wreck at the assay labs, and is causing huge delays.
But yes, it hasn’t really mattered much the last 2 months as even good results just became selling events.
Matthew says more in couple of brief sentences than you do with one of your essays.
Terry – While you know much I treasure your wacked out opinions, it should be painfully obvious he is posting charts, and they contain the technical data being shared visually. What else can you say about the chart, other than the main takeaway or subject of the chart? The visual image and data included is the point of those posts. I truly appreciate Matthew’s charts and have for 11-12 years, but some people don’t use any technical analysis and may prefer the other data being shared on the macro economics, specific commodities, or specific companies.
I can’t help it that you are a lazy reader, and can’t keep up or comprehend what is written. Many others appreciate those essays, so your loss.
I think you write mostly for yourself. You like to look at your finished work and get all puffed up like a chubby little penguin.
Ira Epstein’s Metals Video (8/31/2021)
#TechnicalAnalysis, Gold, Silver, Copper, Platinum
https://youtu.be/Qt1JJOx_ftY