Thanks to all the KE Report guest contributors for another great week of daily editorials, company interviews with management, and another solid weekend show with Rick & Mike.

Also thanks to all the listeners of the podcast and radio show, and those members of the KER crew that post and participate here on the blog, sharing insights with our community. Ever Upward!

https://watchesbysjx.com/wp-content/uploads/2020/06/industrial-revolution-factory-4-1536×1024.jpg

Hi BDC – I just wanted to give you a hat tip on the good technical call on the US Dollar a few weeks back where you mentioned the target of 109.25, which it tagged earlier this week. Thanks for sharing your charts and tables with us here at the KE Report.

What about Barrick as reference

https://stockcharts.com/h-sc/ui?s=ABX.TO&p=W&b=5&g=0&id=p38224563141

Is Barrick ready for a rebound?

Hi Doc. Yes, Hecla (the sentinel) does look like it could still keep correcting a bit further as it completes that H&S pattern, and based on the ADX red line up with black line trending higher, having dipped below the 200 week MA, and because it is just now getting closer to oversold levels on the RSI and MACD.

– What price level are you looking at for where support could come in on HL?

– What technical indicators will you be looking for to signal a bottoming is occurring?

When Bubbles Go Bust

Jesse Felder – The Felder Report – July 13, 2022

“While the decline in the broad stock market over the first half of this year has led many to believe the current bear market is just that old, it may be important to note that many of the most popular stocks in the market peaked and rolled over well before the major indexes did. In fact, it was the meme stock blowoff top back in February of 2021, nearly a year before the peak in the broad market, that marked the beginning of the bear market for many. And this sequence should be familiar to those of us who were involved in markets a couple of decades ago.”

“Back in early March of 2000, the Nasdaq put in a blow off top of its own, similar to that in seen in the Goldman Sachs Non-Profitable Tech Index in February of 2021 (both indexed to 100 in the chart below). Much like the broader market today, the other major indexes didn’t follow the lead of the Nasdaq until several months later. In fact, the NYSE Composite even went on to make a new high in September of 2000, much like the major indexes did late last year. In both cases, the failure of the most speculative stocks in the market to confirm those later highs served as a clear warning sign for risk appetites in a broader sense.”

https://thefelderreport.com/2022/07/13/when-bubbles-go-bust/

Weekly:
https://stockcharts.com/h-sc/ui?s=HL&p=W&yr=3&mn=0&dy=0&id=p94837032469&a=1206800790

Looking at the Vaneck website, GDXJ holdings. That fund is loaded with all the Aussie mid tiers.

Fantastic chart. Thanks Matthew.

Hi Monty – Yeah, I’ve been reflecting some on that spinout of the Wallbridge nickel assets to Archer, and have mixed thoughts and feelings about it.

Overall, I guess it is good to see some value creation for these nickel assets (that Balmoral used to hold that Wallbridge acquired in the takeover). Clearly these quality assets were getting no value from the market for the last 2 years. Hell, even the 4 million ounces of gold in the ground and amazing land package all around Detour Lake that Wallbridge holds are not getting fair value, so nice to see some value daylight for the nickel projects. From that standpoint, I guess it is better than nothing, and is a win of sorts. It is an all-share deal that they claim is worth $53.6 million but it really depends on how Archer performs as to how the 20% stake Wallbridge has in it performs.

I know the company has toyed around with spinning these out in the past, and had mentioned that possibility on Cruxinvestor’s show, but when we interviewed Marz last time, he stated many people still don’t realize the fantastic gold value still to be unearthed in those nickel projects, and he felt it was better to keep them in house and develop them as satellite gold deposits with serious nickel credits (similar to what Karora Resources is doing). From that standpoint, I’m somewhat concerned that they just outsourced all that potential future value to a fledgling Jr company.

The point has been made that if Wallbridge had tried to create their own “spin-co” that it would have taken more time, resources, and had the same basic challenges, so in that sense, I agree it was the better option to just spin out the projects into a junior, like Archer, that already existed and was listed, as it is more immediate. That part of it makes more sense than them trying to spin it out on their own. We’ve seen a few other spin cos created over the last year that still aren’t even trading (like Auryn/Fury’s Coppernico, or Kootenay Silver’s- Kootenay Resource), and we’ve also seen about half dozen spinco’s created that simply nosedived upon creation. From that angle, I’m more of a fan of spinning out the assets into an already existing vehicle, over trying to create it from scratch.

I don’t know what will finally get Wallbridge off the mat. I’ve been following this story for a long time as prior holder of Balmoral, watched Wallbridge get created, then watched Wallbridge takeover Balmoral, and since then was in, then sold out, then back in, then sold out, and am now recently back in. I can’t help but think at one point in time, that a larger company will value all the resources already defined, and importantly, all the resources yet to be found on the prolific land package. I just got back into WM in earlier July (before this deal was announced), figuring they could get acquired by one of the big boys, or possibly would start to crawl their way out of the hole they’ve been in throughout the balance of 2022 and heading into 2023. The nickel assets played into my thinking, along with the obvious gold value, but now those Ni assets were just spun out.

Overall, I’ve been pretty disappointed with the way things have gone in Wallbridge, but was also disappointed by how things went in Balmoral, and it just goes to show that quality projects can be ruined by ineffective management teams and boards of directors. I feel better about some of the recent changes to the team, and at least this nickel assets spinout to Archer is something as far as value creation, but it will likely take a while before Archer gets on people’s radars and does anything significant with the projects… We’ll see how it goes.

Normal link for stockcharts subs:
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=6&mn=9&dy=0&id=p63632399310&a=1193136426

The Week On Wall Street – Inflation Feeds The Bear

Fear & Greed Trader – Seeking Alpha – Jul. 15, 2022

> Summary

– Inflation; how many times are we going to say, “This is the highest ever?”

– In the current backdrop, the potential for a sharp V-bottom for the economy and the markets is Low.

– The stock market sent a warning in Q1. That warning has been correct.

– Confidence Polls are at historic lows.

“There is a notion that the post-financial Crisis era has been a strange one in which the underlying fundamentals matter less than what the market expects the Fed and other Central Bankers to do. In the past when the economy started to falter, another round of stimulative measures was applied. If you recall during that era, inflation was struggling to even reach the Fed’s 2% target, so there was no real reason for anyone to change course.”

“For the investment community that believed in that concept, the fact that the FED is now moving in the opposite direction, it’s time to pay close attention to the “fundamentals” of the economy. Fed policy has switched from doing “whatever it takes” to keep the economy and markets going to doing “whatever it takes” to slam on the brakes.”

https://seekingalpha.com/article/4523694-the-week-on-wall-street-inflation-feeds-the-bear

I think , Bobby is also wrong on manipulation…. JMO

Hi Silverdollar, What Bob Moriarty say’s about manipulation is, “that all markets are manipulated up and down, always have been, always will be.” Therefore manipulation is meaningless because it goes both ways, and is always happening, one way or another. Eventually the gold price will revert to it’s real value. When Silver went to $50 quite a few years back it was manipulated up in price, but you didn’t hear the silver bugs at this time screaming manipulation. DT!

BOB….. said 10 yrs ago or more……… there is no manipulation in the gold market…….
he must have changed his tune..
He was all over Chartster , for saying there was no manipulation, if, my memory servers me correctly
Manipulation …….up and down……. is still manipulation….

Thanks Larry for listening and for the feedback on the show.

We think Rick and Mike are a couple of very sharp guys.

I think gold in particular is likely to make a new low so the rest of the sector will be held back even if it avoids news lows.
It’s interesting that SIL and SILJ look better than GDXJ on the intraday charts.

Joe, I hope you’re wrong about the market but at this point absolutely nothing would surprise me.

About PM management being crooks, you’re absolutely fekken right. There are plenty of companies that only enrich themselves while their stock prices goes to hell. Marrone is a nice example, Kord another. There are a lot of bad guys in this sector pretending to be ”on our side”.
The nerve of these fekken criminals appearing on interviews, talking good and then make absolutely crazy decisions that make their stock tank.

The mysterious cabal that many here keep referring to as the cause of artificially suppressing gold price, fleecing the sheeple etc etc is actually the group you indicate that run the show. Pump and dump promoters.

Hi Battaglia. I already left extensive comments on WM Wallbridge up above in response to Monty Bissett’s questions, and don’t have much more to add than I already did in those replies.

The Aussie Ian Baker Finch won the British Open in 1991 and it was all downhill from there. Hope Smithy can do better.

Hi Doc, The market looks like it is accepting the losses and could move forward. Speculators still think when there is a break it is a good time to buy. There won’t be any real alarm until the market decides to collapse, it will come suddenly and without notice and it will be a huge deluge, but when is up for debate. I don’t think this can go on after October or possibly November like you mentioned. DT

Lakedweller2 – just curious what has you interested in Empress as a royalty play over all the other options that typically have more cashflowing royalties or streams? Any NSRs they hold that have you interest in particular?

Hmmm not sure Wolfster. Cory has our web guy doing a few things, but I’m not sure what all he may have changed. You can email me some screenshots of what you see now and I can forward that along if you like.

Yep, most of the silver stocks are having a nice bump today and outperforming the price move in silver by a factor of 3 or 4. Always good to see that kind of performance.