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Weekend Show – Markets and Metals – A Focus On Inflation Into 2022

Cory
November 13, 2021
Full Weekend Show

This week was dominated by inflation data that surprised to the upside. CPI was reported at 6.2% and most importantly showed a re-acceleration. We saw precious metals continue to move higher along with the stocks, the US Dollar also continued to rise, and US Markets ended the week pretty much flat. The question is, will inflation continue to rise…

 

On this Weekend’s Show we feature 2 extended segments with Mike Larson and Jeff Christian. We have both weigh in on the inflation data and projections metals into 2022. 

 

Please keep in touch by emailing us at Fleck@kereport.com and Shad@kereport.com. We love hearing all your thoughts on the markets and companies we interviewed during the week. 

 

  • Segment 1 and 2 – Mike Larson, Editor of The Safe Money Report kicks off this Weekend’s Show with a focus on inflation which he states is running at levels not seen in 39 years. We discuss how this impacts the gold trade and bond market.
  • Segment 3 and 4 – Jeff Christian, Managing Partner at the CPM Group wraps up the show with a discussion on investment demand for precious metals. We also discuss Jeff’s outlook for inflation through 2022 and the recent M&A transactions in the gold sector.

Exclusive Company Interviews From This Week

 

 

 


Mike Larson
Jeff Christian
Discussion
116 Comments
    Nov 13, 2021 13:19 AM

    Nice report and analysis on silver producers

    Whom to buy?
    #1 Weathon Precious Metals
    #2 Pan American Silver
    #3 Endeavour Silver

    Don‘t buy
    America‘s Gold and Silver

    https://renaissancemen.org/2021/11/08/who-is-the-best-company-to-invest-in-for-silver-i-do-a-deep-financial-dive-into-all-of-the-big-players-and-the-winner-is/

      Nov 13, 2021 13:25 AM

      It was an OK article, but I don’t agree with with many of the opinions or lines of thinking, and he missed a great many things about what will drive those companies future trading, and didn’t account for handicaps that will be removed over time as developing mines come online, production ramps up to stated volumes, and some of the companies emerge from challenging environments over the last 1 & 1/2 years where Latin America was disproportionately affected, which will greatly change how things look in 12 months time, or even by the middle of next year.
      .
      So while it had a few good comparable charts based on metrics in the recent past, and it is nice current snapshop, it is not indicative of where things are heading… which is far more important, and it would take him more time and understanding to dig in and understand all the mines, and where things will be trending, which he admitted he didn’t do in the early part of the article, but that is the whole point of due diligence, to skate where the puck in moving to, and not get stuck in the maze when the cheese moves.
      .
      For example, turnaround stories all look like dumpster fires at their most bleak moments, until they don’t and suddenly “surprise” everyone to the upside. Another example is that good companies, currently going through a challenging time, can look like dogs at one point, before they course correct and then they easily rise back to the top of the pack, again “beating estimates.” We see it in many industries and we see it in miners quite often.
      .
      Looking at a snapshot of recent performance is important, which is what this article did (although with many embedded biases apparent), but it misses the most important part – how things are going to develop moving forward. It’s like analyzing the last time a baseball player was at bat, or maybe the last game, but at the exclusion of how they’ve done in all their other games and seasons leading up to that, and most importantly, how they are going to do their next time at bat.
      .
      Many of the companies this author ranked low, completely trounced the returns of the ones he had ranked higher up the list during the big bull moves we’ve seen like the first 8 months of 2016, the Q1 runs in 2017 & 2018, or the moves higher from late 2018 though August of 2020. As we’ve pointed out on here many times, it is usually not the best run companies with the best metrics that perform the best during bull markets, but rather the ones with the most room to improve that end up out-performing the pack with more Beta.
      .
      This is why we’ve quipped so many times that it is actually the “best of the worst” that actually become some of the biggest winners on bullish legs higher. This is different with the producers than it is for explorers, because it is based on the higher cost producers margins increasing more on a percentage basis than the better producers. The same is true with turnaround stories that may have a mine down on care and maintenance at present, or challenge they had on site, that they’ve been overly punished for, but as that asset comes back on line, or as the problem lifts, so does the eventual valuation. So there is a rationale behind this kind of investing strategy of poaching deals in companies that are oversold, and misunderstood or “judged” harshly, for the inevitable re-rating that will be more obvious in 6-12 months time.
      .
      So to be clear, this positioning in the “best of the worst” producers during corrective moves for their rerating higher in bullish impulse legs higher is not the same thing as throwing a dart in a bull market and seeing everything go up. That kind of blind spraying and praying would be more in alignment with the statement that: “In a bull market even the turkeys will fly…”. That is more symptomatic of a mania rising all boats with the tide, like what we saw play out in the cannabis or cryptocurrency markets the last few years, or more recently in the uranium space. That definitely is a factor in any sector during a bull market, but not really the point of looking for future operational improvements, and not staring at the current condition and then extrapolating out into the future (like that article just did).
      .
      It is for the reasons stated above that investors have scratched their head many times in the past when companies like Santacruz Silver, Impact Silver, Aya Gold & Silver, GoGold, Coeur Mining, crushed the performance of companies like Pan American, Newmont, SSR Mining (formerly Silver Standard), or Fresnillo. Sure those big boys are better run, but that is why they don’t run…. as much during big up moves. They have far more consensus amongst lemming analysts and far less room to surprise to the upside as a result. Positioning in the biggest and best is not the recipe for the best percentage gains by any stretch, especially with producers.
      .
      As for Endeavor Silver, which the author ranked highly and I agree with as a good choice in the silver producers (but for much different reasons focused on exploration growth compared to the points he camped out on), it is an ironic choice. Based on his metrics, and how they were doing 1-2 years ago they would have been on the bottom of his list then, and anyone listening to him would have missed their dramatic rerating higher as they optimized old mines into better performing mines, off-loaded non-core assets, lowered costs, and stated getting more value for their massive company-transitioning development asset Terronera (which even the author picked up on). The point being that if we backed up the clock EXK / EDR would have been on the bottom of his list, but he would not have had the forward-looking approach to notice the big rise higher it would have. That exact same principle and current set up is true for many of the companies that the author beat up on in that article; and in 1-2 years they’ll likely be on a much different place on those tables, and more importantly, those problem children, will likely outperform most of the ones that are higher ranked on his tables.
      .
      Also, there were many silver companies he didn’t even have on there which he’d likely throw in the dumpster bin as well, but which have often outperformed his whole list on the important rallies, but they also outperform to the downside on pullbacks (which is all most people focus on, and that is why they always miss the best performers in rallies). Companies like Impact Silver, Santacruz Silver, Aya Gold & Silver, and GoGold Resources generally beat that whole list of larger companies on rallies and we’ve seen that kind of thing over and over again. Most of the biggest runs in the silver producers from late 2018 to the summer of 2020 were in those companies, not in Pan American, Newmont, Fresnillo, SSR Mining, or Wheaton Precious Metals (which is a royalty company and a bird of a different feather anyway).
      .
      Aside from Impact Silver, Santacruz Silver, Aya Gold & Silver, and GoGold Resources just mentioned not being included as too small to consider I guess, there were still other silver producers excluded like Gatos Silver, Avino Gold and & Silver, Silver X, and Andean Precious Metals. In addition to all those missing companies, there are also the handful of newer silver producer entrants into the space, that are still ramping up into production like Silver Bear, Alexco, Aurcana, Mag Silver, and Guanajuato Silver. I just listed 14 more silver producers that the author didn’t even discuss while making the statement: “This goes to show how small the list of silver producers out there actually is.” So again, a good article for a nice snapshot of where things are today, but not very useful for skating to where the puck is heading in the silver producer space.

        Nov 13, 2021 13:51 AM

        Great comments Ex. I am more concentrated inJunior explorer silver companies (what’s new) and you probably own all or some. I think if silver ever gets to break-out level, most all silver plays with a good potential resource will join in.
        Anyway, here are my main ones: Silver Tiger, Vizsla, Summa, Blackrock and Emerita. Little known resource fact is Emerita has a silver resource projection of around 400mil ounces and of course, they are just beginning drilling on the brown fields project. Emerita is a primary Zinc project but the expectation is that they could have a mineable selection of metals including gold.

          Nov 13, 2021 13:38 AM

          Thanks Lakedweller2. Out of the ones on your silver explorers list there I also hold Vizsla Silver, Silver Tiger, and Summa Silver. Both Vizsla and Silver Tiger have put out a continuous stream of solid drill results for the last 2 years and while many companies make the claim that they are going to be “the next Silvercrest,” both VZLA and SLVR are the only 2 companies I see regularly pulling out those kinds of bonanza grades in Mexico. Summa Silver is showing promise hitting the high-grade intercepts near Tonopah Nevada. Blackrock Silver is hitting good right by them as well, but I have more faith in the management team at SSVR.
          .
          As for Emerita, I’ve only had 2 profitable swing trades in it this year, and rarely go all in and all out on stocks, but it was poor judgement on my part to not keep a core position in place and trade around it like I normally do. EMO has been one of the stand out stories of 2021 and even though I participated in some of the run up, which is better than missing it completely, it was nothing like you run that you and Doc Jones have had. Congratulations again David on one of the trades of the year!

            Nov 13, 2021 13:59 AM

            Speaking of Doc Jones: he did a late yesterday interview with David Gower. CEO of Emerita, which was pretty upbeat. About 45 mins but well worth it for those following Emerita.

            Something I am looking into this weekend is I noted that Doc bought 50,000 shares Friday in Millenial Precious Metals (MLPMF) on a day when it sold off -53%. It appears it opened over .90 cents US and a Fund was doing a share adjustment that evidently was planned, but sold a big block around .44 cents which drove the price down. Sounds like it could be a “sale” on price. Nevada, multiple properties, Sprott in as well as many institutional buyers. Worth mentioning as Doc doesn’t do anything on a whim. Very thorough like Ex.

            Added: checked and Waterton was the name of the Fund reducing holding. Looks like another scheduled for May. I don’t think I have heard of them …but that means close to nothing.

            Nov 13, 2021 13:26 PM

            Hi Ex, I think you could open a jewellry store on Silver Tiger’s property where they drilled that amazing intercept of 82,827, g/t AG EQ over 0.5m. Jewellry grade for sure! LOL! DT

            Nov 13, 2021 13:24 PM

            Lakedweller2 – Thanks for the heads uo on that development in Millennial Precious Metals, and the Doc Jones buy during the half off sale from Waterton’s sloppy exit. I’m not a fan of Waterton as they play ganes with PM companies, but am a big Doc Jones fan of course. He’s who gave me the heads up on both Volcanic Gold this year and NG Energy. Cheers!

            Nov 13, 2021 13:25 PM

            Yes DT – Silver Tiger is hitting jewelry store grades indeed.

            Ever Upward!

            Nov 14, 2021 14:56 AM

            Silver Tiger Metals (SLVR) – Bumper Grades, as “Predicted”
            .
            Crux Investor – Nov 11, 2021 #Video interview
            .

            00:00 – Company Overview
            00:11 – Recent Press Release, Silver Equivalent & Hunting Crack Operation
            04:21 – Cash Position, Changing Plans & Resource Estimate
            05:55 – Stepping Out Small Amounts, Progressing Things & New Fuel Rigs
            09:06 – Economic Study & Company’s Global Resources
            11:10 – Outro
            .

            https://youtu.be/4IbHZuZXBYA

      Nov 13, 2021 13:32 AM

      I actually just picked up shares on Friday in FSM at $3.86 for a swing-trade or maybe a position-trade for the medium term, as they’ve been overly beat up on these concerns, and I know how good of quality the Roxgold African assets are that they acquired, as someone that rode the ROXG rocket higher for a few years. While I was vocally against Roxgold getting acquired by Fortuna at this point in the cycle, and because it just didn’t make sense logically, that doesn’t diminish their mine and development project in West Africa, and how they will continue to be a cash cow for the company. There is deep-seated resistance to FSM’s mine in Mexico, and that has been the case for years, but in the short to medium term, I could see Fortuna bouncing from it’s oversold condition, especially if Silver continues to break out from it’s inverse cup & handle pattern on the daily that many technicians have noted is starting to play out.

        Nov 13, 2021 13:41 AM

        Ex, nice summary above. I will pick up FSM in the near future when it is completely unloved—that is often the time to purchase. Also, USAS is now hated enough and so I’m starting to purchase shares over time. Both are not going out of business and I love companies taken to the woodshed unjustifiably. Then it’s just a matter of time and patience before you get an easy double. I can remember in the not distant past when everyone on this board was gaga over USAS and were purchasing all the way to the top. USAS has seemed to adjust to some of its’ difficulties recently so the risk/reward is probably justified at these prices.

          Nov 13, 2021 13:50 AM

          100% agreed Doc. I also love it when companies are taken out to woodshed that are not going to zero, as they make for great places for entries. That is why I bought my first tranche in Fortuna yesterday, after it’s been smacked down repeatedly. It is not my favorite pick of the litter by any stretch, but when things get overdone to the downside and sentiment craters, I’m fine adding a horse to the stable for a rerating, and then cutting it lose again when it makes it’s run higher.
          .
          Same thing with Americas Gold & Silver where it was beat up on blockades in Mexico, mine issues in Nevada, and giving away 40% of the farm in Idaho… I was vocally disappointed in it and far from gaga over it personally, and sold it for a tax loss in disgust. However there is a point where all of that is priced in and the company will get those areas fixed and the outpeform to the upside and USAS looks like that’s the point it got to back in September. I’ve been adding back to my position recently and it’s already bounced up double-digits and is nicely in the money on this recent rally.
          .
          Really many of the Silver stocks have had great runs over the last 5-6 weeks and are nicely in the money from where I was adding more or new positions back in late August through late September. Most of them were way oversold so they were prime pickings and this recent rally has been quite rewarding with double digit gains all over the board.

            Nov 13, 2021 13:57 AM

            While on the topic of Silver stocks… This drill result from Silver Tiger earlier this week was still one of the best of the year…
            .
            ____________________________________________________________________________________________________________
            .
            Silver Tiger intersects 82,827 g/t AgEq over 0.5 meters within a broader interval of 17.5 meters grading 2,608.4 g/t AgEq in the initial drilling on the Seitz Kelly Vein

            – Nov 09, 2021
            .
            https://silvertigermetals.com/files/Silver_Tiger_press_release_2021_11_09_Seitz_Kelly_drill_results.pdf

            Nov 13, 2021 13:39 PM

            I wish the halted–five weeks!!!– Santacruz Silver could participate in this rally. I expect a gap up when the halt ends.

            Nov 13, 2021 13:32 PM

            Blazesb – Yeah, agreed on Santacruz Silver. While I’m excited for their acquisition of silver mines (and even power plants) from Glencore, and understand the TSX needed reports back to unhalt the stock, it sure timed out bad with missing the PM rally the last 5 weeks, and they put out a solid Q3 operations report while halted that would have put some wind in their sails. If only they had done it in August & September instead, and been unhalted for October and November… Oh well. It happened when it happened and was poor timing.

      Nov 13, 2021 13:09 AM

      I agree – sometimes the market over reacts and creates good buying opportunities

      On Fortuna I still have problems, even as it is cheap now and Roxgold was one of the last left pearls in West Africa
      – the former key assets Caylloma and San Jose only have three years mine life left
      – a management good connected in Latin American managing assets in Africa

      I was more hoping that tax loss selling would allow me to buy more Equinox at $8. But this opportunity seems to be gone with gold moving higher

        Nov 13, 2021 13:46 AM

        Thomas, you probably know how much I love EQX—-it’s one of my largest holdings. I do think you’ll get one more crack at purchasing shares at lower prices so don’t feel you’ve missed that boat just yet.

          Nov 13, 2021 13:29 AM

          I had sold out of Equinox in June & traded it briefly in July, but bought back into my position to hold on Aug 20th at $5.94.

          Not too shabby of a trade thus far in ole’ EQX — with it closing on Friday at $8.51

          Nov 13, 2021 13:49 AM

          Give us a notice when you buy more -:)

            Nov 13, 2021 13:37 PM

            I typically do, but at this point I’m just holding my EQX and am more likely to sell some next into an extended rally than to buy more, as an active trader. We had dicussed how oversold Equinox was in August, and that picking it up below $6 was a steal. Now it’s just a reasonably good deal, but many of the smaller companies are still at attractive valuations for accumulation.

            Nov 13, 2021 13:41 PM

            Thomas – Here was the post on August 20th here on the KER where I mentioned I was buying EQX 😉
            .
            > Excelsior
            Aug 20, 2021 20:37 PM

            Today I started to add back to some positions (EQX), (AUMN), but also opted to fortify positions in solid producers like (CXB), and (AGI) further.

            I also got back into (ANX) again, as Anaconda has had a nice pullback from it’s highs, has finally put out it’s resource estimate at Goldboro which looks solid, and they have that selective mining underway utilizing Novamera’s surgical extraction processes (run by prior CEO Dustin Angelo).

            Nov 13, 2021 13:24 PM

            I meant Doc -:)
            Thanks for sharing your trading activities Ex

            EQX is a good play for the long run, with their growth profile

            Nov 13, 2021 13:09 PM

            Agreed. Thanks.

        Nov 13, 2021 13:26 AM

        Good thoughts Thomas, and I agree that Roxgold was one of the last remaining pearls in West Africa (especially after Semafo and Teranga were gobbled up by Endeavour Mining right before that recent takeover of ROXG by FSM).
        .
        > However, there are still a few pearls left in West Africa that I have good positions in personally like:

        – Orezone (one of the best takeover candidates out of the gold development projects on the market)
        – Thor Explorations (new producer in Nigeria, with a secondary bulk tonnage development project in Senegal awaiting a maiden resource estimate soon).
        – Newcore Gold (large 100K meter drill program still underway to grow their 1.41 million ounce bulk tonnage gold deposit even larger).
        – Montage Gold (over 3 millions ounces of gold in their resource in Côte d’Ivoire, economic study shows NPV of $1 Billion and 46% IRR at $1850 gold… the current pricing)
        – Galiano Gold (beat-down gold producer and operator of the Asanko Gold Mine in Ghana, in a 50:50 joint venture with Gold Fields Ltd (GFI)

    Ann
    Nov 13, 2021 13:25 AM

    Thanks Thomas…informative for sure

    Ann
    Nov 13, 2021 13:33 AM

    Better run… but that is why they don’t run…yep..

    Nov 13, 2021 13:42 AM

    Thanks to all the KE Report contributors for another great week of daily editorials, company interviews, and another solid weekend show. It is really nice to have Mike and Jeff as our guest commentators this weekend.

    > Also a very big thanks to all our show listeners and to those that contribute their insights to the KER blog day in and day out, as we appreciate your participation. Ever Upward!

      Ann
      Nov 13, 2021 13:08 AM

      CCW-V… Now that’s an under performing silver company.Don’t hear anyone talking about this company. .. and I imagine there’s a reason why.They boast.. the highest grades on their website.Im guessing highest grades doesn’t mean a whole lot if the tonnage isn’t there to mine.

    Nov 13, 2021 13:02 AM

    It’s Time For Gold Miners & Other Value Stocks

    Hosted by Jay Taylor – November 9, 2021

    “Lyn Alden, Dr. Quinton Hennigh and Michael Oliver return. Gold and Silver miners are the only non-financial sector in the S&P 500 that has been generating real positive free cash flows. Yet the value orientated gold shares are not performing anything like growth stock sectors, including IT. Lyn believes the tables may now be turning in favor of value stocks over growth stocks, in which case gold and silver miners should be nearing the time for their next major breakout. Lyn will explain the drivers for value stocks as well as those for growth stocks. It will also be interesting to get her latest views on Bitcoin and crypto currency in general, and how she views those “growth” stocks relative to precious metals and energy stocks in general. The major gold and silver miners that are producing strong profits are however running out of ore so they will need to find new large scale deposits. One company that is showing early signs of a major gold and silver discovery is Eskay Mining. Dr. Hennigh will provide an update on that company’s exploration progress, hopefully with some of the latest drill results. Michael will provide his usual insights into stock and bonds markets with a focus on the precious metals markets.”
    .

    https://www.voiceamerica.com/episode/134240/its-time-for-gold-miners-and-other-value-stocks

    Nov 13, 2021 13:03 AM

    From Jesse’s this week: Must read if you want to understand why we’re in a pickle with enormous change already here and likely much more pain on the way: Bridgewater article: https://www.bridgewater.com/its-mostly-a-demand-shock-not-a-supply-shock-and-its-everywhere?mc_cid=0b36a12788&mc_eid=347a500eba
    Additionally, my nomination for the quote of the week: “Gold mining shares are perhaps as cheap as they have ever been against the broad market. So gold is a little bit of an island of indifference in a boiling sea of gambling and speculation.” Jim Grant

      Nov 13, 2021 13:06 AM

      Here’s a good one that Jesse emailed out this morning:
      .
      ________________________________________________________________________________________________________
      .
      ‘An Island Of Indifference In A Boiling Sea Of Speculation’
      .
      Jesse Felder – The Felder Report – 11/13/2021
      .
      https://mailchi.mp/felder/island-of-indifference?e=baab1fcdca

    Nov 13, 2021 13:04 AM

    Gold Breaking Out Amid Loss of Investor Confidence in the Fed
    .
    David Erfle – Friday November 11th, 2021
    .
    “The news headlines this week, along with the rising gold price, is implying investors across the globe have finally accepted that inflation will continue to run hot. Despite the best efforts by central banks to convince them that surging prices of most everything is transitory, December Gold futures are headed for their biggest weekly gain in six months. The gold price has also moved sharply above both its 50-day and 200-day moving averages.”
    .
    https://mailchi.mp/913085ed001c/david-erfle-weekly-gold-miner-sector-op-ed-1600294?e=3ac1473fe4

    BDC
    Nov 13, 2021 13:18 AM
      BDC
      Nov 13, 2021 13:39 AM

      PM Price Quality: https://tinyurl.com/2vc9pznu

        BDC
        Nov 13, 2021 13:04 AM

        Price Quality (Others): https://tinyurl.com/n3usfa27

          Nov 13, 2021 13:40 PM

          Thanks BDC. You’ve come a long way in developing your Max Stats saturation tables on various sectors, and I appreciate you sharing them with the KER Crew.

            BDC
            Nov 14, 2021 14:53 PM

            My pleasure. They are best used to help time discretionary buying and selling.

    Nov 13, 2021 13:44 AM

    It feels good to finally be back to a live conference today at MIF. I highly recommend attending any of the live shows. They can provide unique insights into the sector.

      Nov 13, 2021 13:42 AM

      Glad you got to attend a MIF in person. I have watched several virtual conferences and/or their published interviews and presentations and have gotten several ideas.
      In fact, one of the first presentations I watched was when Gwen Preston recommended Great Bear. I think I paid .43 cents US.
      Bring back some new “ideas” of what is hot at the conference for the KE group.

      Nov 13, 2021 13:50 PM

      Hi Jetty. Enjoy the live conference over at the MIF. I always look forward to parsing through their conference videos when they get posted on YouTube. Lot’s of good information get shared.
      .
      Keep us posted on if any of the companies really stand out from the pack after attending the show.

    Nov 13, 2021 13:33 AM

    Excellent interview with Mike Larson.

      Nov 13, 2021 13:40 AM

      Thank you sir. Mike is a sharp dude, and yeah, I really resonated with his points in this interview.

    Nov 13, 2021 13:44 PM

    This might be of interest to you people on here.

    Do you know polish silver miner KGHM Polska Miedź?
    Due Diligence 📜

    In addition to copper they have 84,000 tons of AG underground (in Poland) and an annual production of about 43 million oz AG. One of the largest producers of silver in the world. As the price of silver increases their price will go up many times. I’ll probably buy their shares.
    17 comments
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    User avatar
    level 1
    AlustTheTrue
    ·
    14h

    The problem with this company is it is highly influenced by the state. Indeed KGHM is the biggest producer of silver in Europe, but you can imagine that 20 years back the silver production was 0.. Few years back they had biggest revenue from silver than copper. Silver is produced as a by-product only, and not primary one. So increasing of mining is not considered also. Maybe you don’t know, but Poland has the biggest resources of rare and strategic metals in the world (overpassing China and Mongolia), that would allow to buy several countries around easily. Under Mazury area, secured by national parks and forbidden to dig. Waiting for better times. Once Russia got to know about this they wanted to change the borders as they did in 1948 – taking coal mined areas next to Hrubieszow.
    11
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    level 2
    AlustTheTrue
    ·
    14h

    Here’s the article (pl. – you can translate it in google.translator) https://www.suwalki24.pl/mobile/article/3,suwalszczyzna-posiada-najcenniejsze-zloza-europy

    https://augustowskireporter.pl/artykuly/9260-8-bilionow-zl-pod-naszymi-stopami.html

    If the war would occur, this area would be the reason. The other reasons would be false flag.
    8
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    level 3
    QuickThinker1977
    All-Time Top 500 Poster+3 ·
    11h

    These articles say Poland has close to 6 trillion usd worth of resources. Thats a lot , considering that polands public debt is below 0.5 trillion usd (1500B pln) As polish people in general dont care about economy, resources, future of their kids, etc country will most probably be invaded by israhell or russia. Already there are tensions on the east border. Same as with australia – country rich in resources is simply conquered by stronger / smarter players.
    0
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    level 4
    tendieripper
    ·
    6h
    🦍 Silverback

    They don’t care about the future of their kids? Can I get a source on that?
    1
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    level 5
    QuickThinker1977
    All-Time Top 500 Poster+3 ·
    4h

    Well, 54% took the poison. Its about 64% of all adults. They waste huge amounts of capital on foreign grocery chains: lidl auchan biedronka , kaufland, electronics chains : mediamarkt saturn. Turks for example are able to run their own supermarkets.

    Huuuuge amounts of capital flows out to foreign banks . Brits, germans, french, have their own commercial banks. Poles cant. Pathetic

    Highest number of pharmacies per capita in the world probably. Selling what? Pfizer, glaxo etc crap.

    Coal mines shut down. Billions flow to catholic church directly and from state budget. Poland is one of the worst countries in the world by NIIP. Only usa, africa, greece, portugal, mongolia etc are worse.

    Ruling party signed a law which allows foreign army to shoot poles, literally. Im not joking.

    And you say they care about future generations? Hahaha. Pathetic submissive slaves without a brain. Most of the world is not much better i admit.
    1
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    RoyalSnuff
    All-Time Top 500 Poster+3 ·
    14h
    Take My Energy

    There’s so much silver mined in Poland, I am actually wondering why the country doesn’t have its own bullion coin? Much smaller countries like Austria, Armenia or even Andorra have their national silver coin so why not Poland which actually has the largest silver deposit in Europe?
    10
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    level 2
    silverage2030
    OpNewcomer ·
    14h

    Good point, maybe in the future. They only have a limited series of coins each year. I own a few too.
    9
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    RoyalSnuff
    All-Time Top 500 Poster+3 ·
    14h

    So KGHM stock went 4,6% up yesterday, but that was actually the first day out of bottoming out in the beginning of November? That really is interesting. I actually would like to add an European miner to my portfolio to diversify from all the Canadians and Mexicans.
    5
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    level 4
    johneb22
    ·
    8h

    Do remember…the Canadians are all over the world
    2
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    RoyalSnuff
    All-Time Top 500 Poster+3 ·
    8h

    😄 Do you have one particular Canadian in mind? Starts with an S and ends with tt?
    1
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    johneb22
    ·
    8h

    Good point but I was referring to all the mining companies in Canada. They own mines all over the world.
    1
    User avatar
    level 7
    RoyalSnuff
    All-Time Top 500 Poster+3 ·
    8h

    Yes, I am still amazed in how many junior miners and explorers Sprott has a stake in, for example Zacatecas Silver in Mexico.
    1
    User avatar
    level 2
    WeekendJail
    All-Time Top 100 Poster+3 ·
    14h
    🦍 Silverback

    I would LOVE to have Polish bullion coins. Would probably be at least 25% of my stack. Someone please pass this message on to the Polish Government. They’ll make a lot of money…
    6
    User avatar
    level 2
    QuickThinker1977
    All-Time Top 500 Poster+3 ·
    11h

    Coin? Wtf? With so much silver , polish currency should be silver itself! This way, poland will have no debt. And all its mined silver will stay within borders. Copper can be exported, but why silver? Its just dumb. Germans and usa are largest buyers of silver bullion, so poland is just making them richer, selling at stupid prices for soooo long when silver is worth at least $500 up to maybe even 3 – 6k per oz
    4
    User avatar
    level 1
    Altruistic-Brush-292
    ·
    13h

    Polish silver coin https://79element.pl/product/srebro-inwestycyjne/78-srebra-sztabka-inwestycyjna-w-ksztalcie-monety-jadwiga-1-oz/
    3
    User avatar
    level 1
    Altruistic-Brush-292
    ·
    13h

    Official Polish National Bank collector coins https://www.nbp.pl/home.aspx?f=/banknoty_i_monety/monety_okolicznosciowe/najnowsze.html
    3
    User avatar
    level 1
    QuickThinker1977
    All-Time Top 500 Poster+3 ·
    11h

    As Poland is much richer than peru or mexico, kghm as silver miner is an interesting choice. They also plan to introduce silver token on blockchain like kinesis. If they will do it right, i will increase my position 5 fold !

    First majestic could do the same, i told them about such idea before kghm went public with it. No

    Nov 13, 2021 13:28 PM

    What is the bloody point of posting something on this page , if it is going to be taking down. I posted something on this page & checked it had loaded, & it had , then i come back to the page & its gone …… WHY ?

      Nov 13, 2021 13:44 PM

      Hi IrishT. Your post was scrubbed by the automated system because it had more than one link embedded within it.
      .
      I believe it has 4 different links in it, so the A.I. flagged the post as potential spam.
      .
      I saw your comment though and went and checked and just released it manually.
      .
      Thanks for sharing it with us sir, and have a good weekend.

        Nov 14, 2021 14:22 AM

        Thanks Shad I just thought this information might be of interest to some on the blog , maybe it’s flying under the radar of most.

          Nov 14, 2021 14:07 AM

          Yes, thanks for sharing the info with us, as that is the whole point of the blog – an exchange of ideas.

          Very much appreciated IrishTony!

    Nov 13, 2021 13:21 PM

    Cash Vital to Pull Trigger When Liquidity Mayhem Hits, Rick Rule Doubles Down
    .
    Stansberry Research – Nov 12, 2021
    .
    “Causes of inflation have been in place for five to six years, where quantitative easing has been debasing the dollar, says Rick Rule, founder and CEO of Rule Investment Media. “I don’t in the near-term see a stock market crash,” he tells our Daniela Cambone, “with lots of cash on the sidelines in a strong economy.”

    Rule believes that gold and cryptocurrencies are complementary asset classes, saying “there’s lots of room for both of them.”

    He details why the true threat to gold is, “probably the S&P 500.” Rule concludes the importance of storing liquidity and predicts a forthcoming confidence crisis, urging the investor “to decide for themselves if they want to be a profiteer or victim.”
    .

    https://youtu.be/KSVFs3WC9Nw

    Nov 13, 2021 13:56 PM

    Steve Hanke – Inflation surges to highest level in 30 years, Biden is about to press ‘panic button’
    .
    Kitco News – Nov 10, 2021
    .
    https://youtu.be/AgjpMV9CDag

      Nov 13, 2021 13:58 PM

      Ronald-Peter Stoeferle – Worried About Inflation? Don’t Focus On The Fed
      .
      Kitco News – Nov 12, 2021
      .
      https://youtu.be/UqLDxa1h9YE

        Nov 13, 2021 13:04 PM

        Gold’s Inflation Narrative Is Changing After $40 Price Rally
        .
        Kitco News – Nov 12, 2021
        .
        >Here is a look at Kitco’s top three stories of the week:

        3. U.S. inflation rate highest in 31 years as CPI rises 6.2%
        2. Gold price jumps nearly $40, bitcoin hits new all-time highs as markets react to inflation data
        1. Watch this change in gold price narrative as it’s still a cheap inflation hedge compared to crypto
        .

        https://youtu.be/9mEBKSf6KMc

    Nov 13, 2021 13:11 PM

    This is a really interesting video where Kerry Lutz interviews Bob Hoye. Hoye say’s that financial deflation is coming. I completely agree like I said a day ago on this site before you get deflation you get inflation. Hoye say’s The Big Game in Financial Markets and in Financial assets is inflation. Hoye has looked at The History of these financial bubbles from The South Sea Bubble in the 1700’s,to the 1800’s, to the 1900’s, to now. When these bubbles burst the economy contracts and you get a Depression and deflation.

    In 1929 Homestake Mining was on the verge of collapse and Hoye said that by 1932 they were making money hand over fist not because the gold price had gone up but because their cost of running their mining operations had gone way down. Labor, energy, equipment, every thing involved in producing gold was extremely cheap because of deflation. He feels we are on the verge of financial contraction that will be very lucrative for investors in precious metal and in particular gold and silver miners. This is a must listen video as he outlines how history has treated the politics, the senior currency, and the changes that occurred in history when financial bubbles collapse. DT

    https://www.financialsurvivalnetwork.com/2021/11/financial-deflation-coming-soon-with-bob-hoye/

      Ann
      Nov 13, 2021 13:34 PM

      Hi DT… I’m going to listen to the video.. after I send you this message!! You were talking about the Fed a couple days ago and You seem to be an expert on the Federal AReserve.I jotted down some books here at home that maybe or maybe not you have already read…..Aterm at the Fed..End the Fed….America’s Bank…History of the Fed….Secsets of the Temple…Capitalism and Freedom..The creature…13 bankers…Inside the Fed..Net left Tyranny….I haven’t read any of these other than The creature… and only skimmed thru it.. Cheers…

        Nov 14, 2021 14:48 AM

        Hi Ann, I haven’t read any of the books you mentioned, I have asked my family to buy me “The Creature from Jekyll Island for Christmas. I have read a lot about America during the 1920’s and 1930’s. I find it to be fascinating history. America was the place to be in the 20’s, especially if you lived in New York City.

        Some of the highlights were ‘The Depression in 1921, America convalescent after the end of WW1, Wilson’s Great Dream, The Big Red Scare, Revolution in Morals, Harding and The Scandals, Coolidge Prosperity, Prohibition and Al Capone, The Florida Hurricane, The Big Bull Market, The Stock Market Crash-1929, The Great Depression 1930, in between all that were some of the characters on the stage, like Babe Ruth, Charles Lindbergh, Jack Dempsey and Gene Tunney fight, Henry Ford, The Scopes Trial, Mencken and the intellectuals, It’s all wonderful history. DT

          Nov 14, 2021 14:57 AM

          Yes it was an interesting time DT ….I’ve always been fascinated by how the past has affected the migration of different cultures. Ford paying black employees as much as white employees led to the influx of blacks to Detroit was one such example from that time. WW1 led to a huge migration north for factory jobs. There was also what they call the Harlem Renaissance of the 20’s. Unfortunately there was also the dark side of that era with the second coming of the KKK. The Tulsa race riots. Ford himself was an anti Semite.

          BDC
          Nov 14, 2021 14:34 AM

          Ann & DT: In 1948 Ezra Pound enlisted his acolyte Eustace Mullins to produce “Secrets of the Federal Reserve”, initially published in 1952. It was the first to concentrate solely on the rarely understood FED and the secret meetings leading to its creation.
          Online: https://archive.org/details/pdfy-LzPJrXY17uzk3bu9

            Ann
            Nov 14, 2021 14:34 PM

            Thank you BDC.I alerted my husband to your recommendation…and passing on “Thankyou” from him!

    Nov 13, 2021 13:42 PM

    Crescat Gets Activist on Gold & Silver #54
    .
    Streamed live on Nov 12, 2021
    .
    Dr. Quinton Hennigh “Rock Talk” QH starts – 22:40

    Updates: $ESK 25:39, $NFG 34:16, $GMTN 48:18, $NVO 51:42, $ELO 55:02, $LIO 56:37, $ALTA 58:16, $CBR 1:00:12, $B 1:01:39, $PUMA 1:04:28. $RPX 1:06:01, $MMN 1:07:00, ( $NKG + $KUYA + $FFOX – 1:08:34)
    .
    https://youtu.be/HuUkIX5kHoA

      Nov 14, 2021 14:42 AM

      Hi Thomas, the markets are a psychological phenomenon, the memory of The Great Depression is long gone from the public’s mind, the greed pendulum has swung to an extreme reading fed by The Federal Reserve. Only when it has led to outrageous excesses can it be checked, and then the downswing begins and it is as hard to stop as it was on the upswing. DT

      Nov 14, 2021 14:40 AM

      Guistra has bought into NG Energy int (GASXF), so he must like NG in near term.

        Nov 14, 2021 14:55 AM

        I have also bought NG Energy (GASX) because their development pipeline for moving wells into production for Nat Gas over the next 12-18 months is quite impressive.

          Nov 14, 2021 14:54 PM

          A long time ago on this site I mentioned I was accumulating Birchcliff energy (biref)—-that was around $1.00. My mistake was selling with a 150-200% gain. I tend to not hold some of these stocks as long as I should.

            Nov 14, 2021 14:21 PM

            Had a similar experience with BIR and sold too soon.

            Nov 14, 2021 14:25 PM

            Yeah, I remembered you mentioned that about Birchcliff Doc, and that caused me to circle it on a list of oil stocks on my desk, and remembered our guest that is oil focused, Josef Schachter, also mentioned Birchcliff as one he liked so I put a star next to… but I never bought it.
            .
            As for selling out of winners too soon, I feel like his is where the harder part of trading comes in, and is where most investors fail (except for buy and hold investors that never sell on rallies or corrections so they simply watch paper gains go up like a rocket and then come crashing back down without doing anything). For everyone else, that actually wants to sell the rips and buy the dips with sorter-duration swing trading, or medium-term position trading, to maximized profits, then they they have pick their spots for buying and selling.
            .
            While it isn’t always a cake-walk to buy into weakness (as it feels bad to buy when there is a sea of red on the screen), this seems much easier, than holding on to a winner when it has already gone up substantially above 100-200% + (especially if goes up more than 3x…. then I usually have reduced my overall position by at least half, but may add more around that position through swing-trading around the periphery).

    Nov 14, 2021 14:06 PM

    DAY 1 – Metals Investor Forum (MIF) November 12-13th, 2021 #VIDEO
    .

    0:00 Eric Coffin — Introduction to the Metals Investor Forum
    3:40 Gwen Preston, Resource Maven
    20:47 Banyan Gold Corp. TSX-V: BYN
    32:44 Integra Resources Corp. TSX-V: ITR
    44:36 Valore Metals Corp. TSX-V: VO

    1:36:30 Eric Coffin, HRA Advisories
    2:00:05 Altaley Mining Corp. TSX-V: ATLY
    2:18:00 Pan Global Resources Inc. TSX-V: PGZ
    2:30:10 Great Bear Resources Ltd TSX-V: GBR
    2:43:20 Aston Bay Holdings Ltd. TSX-V: BAY

    3:33:00 Jay Taylor, J Taylor’s Gold, Energy & Tech Stocks
    3:57:00 Amex Exploration Inc. TSX-V: AMX
    4:08:00 Goliath Resources Ltd. TSX-V: GOT
    4:20:00 Puma Exploration Inc. TSX-V: PUMA
    4:31:00 White Rock Minerals Ltd. ASX: WRM

    5:04:00 David Morgan, The Morgan Report
    5:28:00 Blackrock Silver Corp. TSX-V: BRC
    5:39:00 Tinka Resources Ltd. TSX-V: TK
    5:52:00 Avino Silver & Gold Mines Ltd. TSX: ASM
    6:03:00 Impact Silver Corp. TSX-V: IPT
    .

    https://youtu.be/0lpvAkhrrSg

      Nov 14, 2021 14:56 PM

      Ex:
      Thanks for the MIF presentations. Very interesting collection of miners.

        Nov 14, 2021 14:10 PM

        Yes indeed, and good presentations from the presenters before their companies presented. Out of that list I hold positions in Integra, Great Bear, Amex, and Impact, and used to have positions in Goliath, Avino, Tinka, and Blackrock, so nice to get those updates, and learn about a few other companies as well. Good stuff!

        Nov 14, 2021 14:21 PM

        Current holdings in: Blackrock, Great Bear, Banyan and used to hold Valore, White Gold, Pan Global, Aston Bay, Amex, Avino and Impact.

          Nov 14, 2021 14:50 PM

          I thought Chris Taylor did a great job in that Great Bear presentation at the MIF.

          Nov 15, 2021 15:47 AM

          Chris Taylor has been one of my favorites since the first time I heard him tell the Great Bear story. He has a very comfortable presentation style.

    Nov 14, 2021 14:24 PM

    My takeaway from MIF was that Eric Coffin is VERY bullish gold stocks over the next few months. Gwen likes uranium. I will also note that yesterday Hugh Agro of Revival Gold shared a longterm vision of 5 million oz of gold, 200 000 oz per year production. Seems a bit optimistic but overall the infrastructure and jurisdiction are great.

      Nov 14, 2021 14:53 PM

      Jetty
      Thanks for the feedback.

      Nov 14, 2021 14:53 PM

      Jetty – thanks for that MIF recap, and the heads up on that Revival Gold projection. That would be quite impressive if they could pull that off down the road.

    Nov 14, 2021 14:43 PM

    Appears that nuclear projects are back on the drawing boards all around the place, Indonesia teaming up with Japanese, Nigeria hiring Rosatom and UK with Rolls Royce. A Chinese company was removed from that British project and I don’t see Chinese companies mentioned anywhere else except Kazakhstan.

      Nov 14, 2021 14:13 PM

      Yes, some sanity has returned to discussions on all the available energy production methods and logically nuclear energy is back on the menu as a contributing and growing factor in the energy sector once again. People only focused on the few plants that have closed are missing all the plants in construction, planned, or proposed which is a picture of growing usage, not shrinking usage. Also many of the Japanese plants on care and maintenance are starting to come back on line or scheduled to come back on line, so that is another positive for the energy sector.

        Nov 14, 2021 14:23 PM

        With 1.4B people in need of more electricity and 150 reactors planned, maybe the Chinese don’t need any outside work.

    Nov 14, 2021 14:16 PM

    Taylor Dart on SA says he’s not buying Calibre(CXB) and I’ll follow his valuable, expert advice and wait for a better price.

      Nov 14, 2021 14:33 PM

      He was buying it at lower prices, as was I, when when he likely thought the valuation was a better buy, but after companies run he typically puts out those articles where he compliments the company and then said he sees better buys in the sector (that is like 90% of the articles he puts out where he rarely thinks a company is a good buy, even though many times they keep running higher after he states that).
      .
      However, Taylor typically only values production companies on their most recent quarterly production and projected next quarter or two of production, but places little value on development projects or the exploration work a company is doing. I’ve done quite well, pressing on with companies he’s passed on a number of times, because the markets move on more than just the narrow scope of the metrics he uses to value companies. To be clear, he does do some interesting research and sometimes has thought provoking company comparable tables.
      .
      What I find most valuable is when he actually likes a company and feels it is a good buy (which is hardly ever). It doesn’t mean that it is going to go higher per say, as he’s not an amazing judge of the trend or direction of price movement – and that is where technical analysis is far more instructive. However, if he actually likes a company and valuation, I place more weight on that than the ones he wants to pass on, because there is usually above average fundamental growth in order. For example when he got more constructive on Karora Resources a few months back, I found that quite interesting and it was another confirming signal, that I was on the right track continuing to build my position in KRR, and I’ve done quite well in that stock this year.
      .
      In Calibre’s case, they have 15 drill rigs turning, and at any point they can make a transformative discovery with any of those drills, or at minimum find more ounces that can be brought into their mine plan and monetized. While the market does appreciate that kind of work going on, and will place some value on that exploration upside, it doesn’t really factor into T.D.’s quant analysis. In addition, while he is aware of Eastern Borosi it’s unlikely his type of valuations will account for the significance it will have to CXB’s production profile & costs a bit further down the road (but there actually is real value there that would eclipse any value he gives that project). In addition, now that Calibre is taking over Fiore, which in addition to their Pan mine, also has the very important Gold Rock development project, which is is unlikely Taylor is giving much value at this point in time. In addition, Fiore and now Calibre has both the Illipah gold project and Golden Eagle project, that have historical ounces in the ground and are quite prospective for exploration, but T.D. is likely not giving them much value at present.
      .
      Bottom line, while he has good research, Taylor often underemphasizes the exploration and development work companies are doing, but the market doesn’t, and as a result he is often too conservative in his valuations and constantly surprised when they run higher than where he feels is a good value for the company based on his analysis. For example, he didn’t properly account for the development and exploration at Argonaut, when he undervalued Magino and Cerro del Gallo, and did something similar on Endeavour Silver, where he undervalued the coming impact that Terronera will have…. but the market eventually woke up to these, and revalued both companies for more than just their current production profile and economics. The markets are more forward looking then he often gives them credit for, and that is likely what will be the case with Calibre in the medium term. To each their own of course…. that’s what makes a market.

        Nov 14, 2021 14:51 PM

        I didn’t buy it when you first brought it to my attention earlier but watching it daily for another chance.

          Nov 14, 2021 14:59 PM

          Yes, good strategy to wait for the right moment to strike with many of these miners. I’m sure there will be more pullbacks that offer a better entry point in Calibre, and I might add a bit more during any more corrective periods as well. I like the very aggressive exploration strategy that they are engaged in, and have watched them go from 1 spoke, to 2 spokes, to 3 spokes, and Eastern Borosi will be spoke #4, supporting their milling hub.
          .
          They are putting most exploration companies to shame with the drilling they are doing, and so while I like their immediate benefits of growing production revenues and leverage to rising metals prices, it is really their exploration that I’m giving them a premium value to, as it will be their future, both in Nicaragua and now Nevada.

      Nov 15, 2021 15:10 AM

      Fred was the last presenter on that Day 1 from the MIF posted up above. It was interesting to see the different areas of exploration on tap for the next 12 months on the maps he shared. Also they are still at 90% silver purity in their production profile, which is the highest of any Silver producer.

        Nov 15, 2021 15:29 AM

        I haven’t watched those presentations yet but I know I agree with Coffin’s bullishness on the gold space more than Gwen Preston’s on uranium. The uranium stocks have been running for months now (about 20 in total) and are much closer to the end of the line (for now) than the gold or silver stocks, which are obviously just beginning their moves (after thoroughly correcting their 2018-2020 moves). Yes, the uranium stocks can (not will) go far higher than I expect in a frenzied blow off but I would not bet new money on that possibility. The gold space is just much more appealing now, and less risky.
        URA shows big negative divergences and huge volume in recent months that looks like distribution to me. Note the big bearish rising wedge…
        https://stockcharts.com/h-sc/ui?s=URA&p=D&yr=0&mn=9&dy=0&id=p24992347227

          Nov 15, 2021 15:41 AM

          Gold had an impressive two year run off the 2018 low and is now ready to go again.
          https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=4&mn=3&dy=0&id=p71163424936&a=712774405

          Nov 15, 2021 15:03 AM

          Yeah, I agree Matthew that the Uranium stocks have already run pretty far to the upside and are getting quite over-extended here. I reduced my positions down by 85% in mid September into the mania, then bought the positions back up to 70% from late September into early October, but started trimming them back down to 65% again to harvest gains last week. I’ll likely reduce my uranium stock positions down even more on any further strength, maybe down to 30%-40% positions, but in the medium to longer term I’m still bullish on the space, but would like to see a good corrective move to wash some of the froth out of the sector for a while, and reset the technicals and the sentiment.
          .
          At present, I’m much more concentrated in focus and in position-sizing to the gold and silver mining stocks, and have enjoyed the run higher in most of them the last 6 weeks. The PM stocks look like a much better home for any new money than the Uranium stocks at this point in both their journeys. If the Uranium stocks do get that shaking of the tree and a solid correction, then I’d be more apt to put more money to work in the U stocks again. For now though, most of my trading and buying has been in the PM stocks personally and they have represented a much better risk/reward opportunity the last few months.
          .
          BTW – Gwens presentation at the beginning of Day 1 posted up above, was actually on the topic of why she was very encouraged by the recent moves in Gold and the PM miners, and she had a lot of good macro charts on the markets and the PMs that I think most people on here would agree with. However, she did mention in that video she was going to do a talk on Uranium in another room later in the conference, and I believe it was that talk which Jetty mentioned attending as one of his takeaways.

    Nov 14, 2021 14:45 PM

    This looks like the first week of May, 2020…
    https://stockcharts.com/h-sc/ui?s=SILJ&p=W&yr=3&mn=0&dy=0&id=p81993163318

      Nov 15, 2021 15:05 AM

      Thanks Matthew. That is nice symmetry with May 2020 in the candle patterns. It will be nice of this continues to resolve to the upside like it did after that similar setup.

    Nov 15, 2021 15:09 AM
      Nov 15, 2021 15:33 AM

      I’d like GDXJ to go down a little so I can make some money on my JDST puts but in favor of IPT continuing up.

    Nov 15, 2021 15:16 AM

    Gold is set to rally the coming months, two experts say. The key level they’re watching

    Lizzy Gurdus – Nov 13, 2021

    “Gold’s hot streak is still in its early innings, say the managers behind two of the largest ETFs on the market backed by the precious metal.”

    “Bullion wrapped up its best week since May on Friday as investors bought it to hedge against rising inflation figures, the latest being the more than 30-year record spike in consumer prices. It has climbed 7.5% since its recent bottom in September and is now within 2% of breaking even on a year-to-date basis.”
    .

    https://www.cnbc.com/2021/11/13/gold-set-to-rally-in-coming-months-experts-say-key-level-to-watch.html

    Nov 15, 2021 15:01 AM

    10 minute UNG…looks to be wanting to rally…caveat is day is only on day 6 of a TD9 count…so some caution required…but strong support at 15.92….more testing and retesting likely……glta

    https://tos.mx/NvpRom6

    Nov 15, 2021 15:02 AM

    https://tos.mx/dx7LVEF

    UNG day view…looks constructive….

    Nov 15, 2021 15:03 AM

    Matthew, thanks for the charts on NFGC and NKOSF. Glad I bought them and ESKYF last week.

    Nov 15, 2021 15:14 AM

    Monday Morning;

    Other than EMOTF, some up and some down = zero

    EMOTF up.

      Nov 15, 2021 15:44 AM

      Lunchtime:

      Add the ones that are up to the ones that are down + $52.

      Looking to buy a cabin on a lake in the woods.

        Nov 15, 2021 15:36 AM

        My lunchtime update is that I decided to pull some profits from both Silver Hammer into the strength today, and I trimmed back just a tiny amount of both my Silver Tiger and Guanajuato Silver after such solid runs last week, and sold completely out of my brand new Fortuna Silver position at a slightly positive wash, because there is just too much uncertainty around the loss of their permit at that Mexican mine that now is in community and government review. Even though they’ve been a good operator for many years, and even though I really liked the assets that they picked up from Roxgold, I just don’t want to take the risk that they get denied that mine for any reason. I was only looking at the oversold condition on Friday and the hit pieces that had come out against them, but after more due diligence, it is just more risk than I want to carry until that issue gets resolved. If they got their permit to mine back and it remained oversold, then it would be a more attractive entry point.
        .
        Another position I sold outright today was Azarga Uranium, and moving forward I’ll just buy enCore next time I scale back in on a sector pullback, unless another takeover arbitrage opportunity shows up in the valuations between the 2 companies.
        .
        I added just a little bit to my Fosterville South position, as the company is still waiting on drill assays to come back in over the next few weeks, and there hasn’t been much hype into those, so I’m taking the gamble that they’ll be good, just based on the targets being drilled. I also added a new royalty position in Empress Royalty, more so because it has become some beaten down this year and they just put out an operations update today that was more encouraging than the company is getting credit for. I could see a larger royalty company cannibalizing Empress next year, so I’m just getting some early tickets to the show. Even if that doesn’t happen, I still the risk is more to the upside than the downside at this point, so I’m going to layer into the position over time.
        .
        Just another observation is that Lion One is sure up nicely today in my portfolio, but I didn’t see any fundamental news that was driving it.

          Nov 15, 2021 15:10 PM

          I did not do anything today as even those that seemed to be headed somewhere early, returned to “much ado about nothing”. Same old patterns. At first I thought there might be some recovery from last weeks smash down in Emerita. It got hit at open, ran to a good #, then was summarily worked backward to ending up .26% which appears to be a small number.
          It appears to be intervention, intervention, intervention or 2 out of 3 of those.
          Well tomorrow is another day and it is possible that Powell will spill coffee on the office key board and short out the algo mechanism. Until then, I have NG Energy sneaking up the back stairwell, hopefully with a flashlight in hand, as none of my others can find their way to a rally.

          I need to check Lion One.

          Nov 15, 2021 15:28 PM

          Lion One had a good move as you mentioned. It has moved out of .70 level before and has done a double.

    Nov 15, 2021 15:42 AM

    Quite a whack on pgm. Per their reportin they did everything right except make money. Ex, Doc any hope on this one, waiting but progressively doubting an entry on this one.

      Nov 15, 2021 15:23 AM

      Yeah, with Pure Gold, they’ve not pushed out from the gate well into production this year, and have had a series of challenges to overcome (and they have overcome most of them), but they’ve been punished by the marketplace as a result. I was debating taking my most recent position in it as a tax loss, having had other profitable trades in Pure Gold in years past, culminating in my exiting the position completely in Dec of 2020. Unfortunately, I scaled back into it this year, and aside from the rough market in the PM miners in 2021, they’ve had operational challenges that overshadowed their exploration successes at the “8 zone”.
      .
      The sentiment with most investors seen on the chatroom boards, or that I’ve picked up from about 7-8 people that have emailed me privately about PGM , or from discussions that I’ve had when bouncing their company off others in phone chats, is that many investors have lost some confidence in the management team to execute on production or operationally. Their team really needs to prove to the marketplace over the next few quarters that they can get their ship turned around. Also, many were not happy with that last financing where Anglogold Ashanti came in with some lifeline funds.
      .
      > It does beg the question on if Anglogold Ashanti may have intentions of scooping up Pure Gold, post financing, like they just did with Corvus earlier this year?
      .
      I’m hanging onto my PGM position for now just in case they see a 40% premium bid to take them over, which would move my position well into the green.

    BDC
    Nov 15, 2021 15:44 AM

    Michael Boutros (Oil & Gold, 24:35) : https://www.youtube.com/watch?v=OVuzaTTJeHA

    Nov 15, 2021 15:35 PM

    Thanks for update Ex, that possible Ahanti strategy is well noting

      Nov 15, 2021 15:39 PM

      Yeah, while I’m prepared that this could always be a possibility, where Anglogold Ashanti takes out Pure Gold during a low valuation period, and it would give investors an escape hatch… it’s actually not what I’m hoping for personally. I’d rather see them gradually dig their way out of the hole they are in with investors over the next few quarters and claw their way back higher again into 2022, but if they get nabbed then so be it.

    Nov 16, 2021 16:42 AM

    Paper futures on positive side of center. Maybe this is the day the mystical magic northern contrarian wizard of whimsical nuances of projected wonderfulness will guide the miners to the Profit Land in a grand movement upward, today and forever.

    Nov 16, 2021 16:02 AM

    Bam! Two big red candles at 9:00 AM EST to move gold to no gain projected. I hate that guy that does that everyday.

    Minutes later: every metal now red. Within seconds the market changed its mind…again.
    Bogus