Dave Erfle – Precious Metals Kick Off 2023 With A Continued Move Higher
Dave Erfle, Founder and Editor of the Junior Miner Junky, joins us to highlight that the PMs have kicked off the new year in the green, even despite the higher US Dollar, due to the war premium out of Ukraine.
We review if the rally witnessed in the PM sector over the last few months has more room to run, or if a pullback is in order? Dave shares key resistance levels he is watching for GDX and GDXJ, and discusses how the market pendulum is swinging from very oversold levels from last September, to a continuation in the opposite direction of swinging to a more overbought as the year unfolds.
We wrap up with some of the macroeconomic factors shaping 2023 from the lingering stagflation, potential for a worse recession, China reopening, central bank policies, and upcoming Fed meeting minutes.
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It also cleared another fork resistance:
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=5&mn=0&dy=0&id=p11072853193&a=1199723462
Have to say that was a disappointing start to 2023 considering how gold and silver started the yr. Impact and Brixton down on the day. ☹️
IPT was particularly peculiar. It blasted off as I thought it might but then gave it all back and then some. My broker even showed an intraday print that was .025 (6.3%) higher than stockcharts shows.
It is possible that it’s foreshadowing sector weakness but it’s been trading strangely (as if managed possibly by a big short or bullish accumulator) for awhile and looks like a coiled spring to me. It started the day with a 4.4% gap and then weakened along with the stock market, silver and the silver miners in general. I’m glad to be rid of the big gap and the other circumstances provide good enough reason for the pullback so I’ll stick with my reading for the whole sector which is bullish. In other words, IPT’s seemingly bearish reversal doesn’t look convincing and the VWAP of the high volume day was 3.55% above Friday’s close. Unless it delivers strong follow through tomorrow I’ll consider this morning’s spike the predictive action.
“Someone” sure is defending the 200 day MA/EMA.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=5&dy=0&id=p16481928899&a=1151061164
Thanks for checking on abnormal trading activity as it is helpful in knowing how to trade the metals.
I’d disagree. Overall for the PM sector didn’t have a disappointing start to 2023 at all, but rather the opposite. The gold and silver stocks overall were well in the green today, so I can think of a much more disappointing start for the year. Maybe a few stocks didn’t react well, but the metals and the mining stocks in general stepped off the first day of trading clearly in the green.
Gold futures closed up 1.09% to $1846.10
Silver futures closed up 0.82% to $24.24
GDX closed up 3.5% after being up more than that earlier.
GDXJ closed up 3.39% after being up more than that earlier.
GOEX closed up 3.03% after being up more than that earlier.
SIL closed up 1.67% after being up more than that earlier.
SILJ closed up 1.42% after being up more than that earlier.
With regards to Impact Silver, it was an anomaly today, as all the other silver producers were in the green except Impact and Fresnillo.
Symbol – Silver Producers – Daily Change %
BCM.V Bear Creek Mining Corporation +15.79%
USAS Americas Gold and Silver Corporation +7.34%
HOC.L Hochschild Mining plc +6.33%
AUMN Golden Minerals Company +5.69%
GATO Gatos Silver, Inc. +5.38%
PAAS Pan American Silver Corp. +5.08%
GSVR.V Guanajuato Silver Company Ltd. +4.05%
ASM Avino Silver & Gold Mines Ltd. +3.98%
SCZ.V Santacruz Silver Mining Ltd. +3.70%
APM.V Andean Precious Metals Corp. +3.60%
SSRM SSR Mining Inc. +3.45%
AGX.V Silver X Mining Corp. +2.63%
SVM Silvercorp Metals Inc. +2.03%
HL Hecla Mining Company +1.80%
AYA.TO Aya Gold & Silver Inc. +1.77%
MAG MAG Silver Corp. +1.47%
EXK Endeavour Silver Corp. +1.23%
CDE Coeur Mining, Inc. +1.19%
AG First Majestic Silver Corp. +0.84%
FSM Fortuna Silver Mines Inc. +0.80%
SILV SilverCrest Metals Inc. +0.50%
GGD.TO GoGold Resources Inc. +0.46%
Symbol – Gold Major Producers – Daily Change %
ZIJMF Zijin Mining Group Company Limited +9.58%
NEM Newmont Corporation +5.04%
GFI Gold Fields Limited +4.54%
KGC Kinross Gold Corporation +4.40%
AU AngloGold Ashanti Limited +3.81%
GOLD Barrick Gold Corporation +3.78%
AUY Yamana Gold Inc. +3.60%
HMY Harmony Gold Mining Company Limited +3.53%
AEM Agnico Eagle Mines Limited +3.02%
SBSW Sibanye Stillwater Limited +1.69%
EDV.TO Endeavour Mining plc +1.48%
NCM.AX Newcrest Mining Limited +1.06%
1787.HK Shandong Gold Mining Co., Ltd. +0.13%
Symbol – Gold Mid-Tier Producers – Daily Change %
AR.TO Argonaut Gold Inc. +11.54%
EQX Equinox Gold Corp. +9.15%
VGCX.TO Victoria Gold Corp. +6.43%
SLR.AX Silver Lake Resources Limited +5.49%
KNT.TO K92 Mining Inc. +5.35%
RMS.AX Ramelius Resources Limited +5.32%
DNG.TO Dynacor Group Inc. +5.15%
RSG.AX Resolute Mining Limited +5.13%
MUX McEwen Mining Inc. +5.12%
CGG.TO China Gold International Resources Corp. Ltd. +4.86%
DRD DRDGOLD Limited +4.46%
WGX.AX Westgold Resources Limited +4.44%
CG.TO Centerra Gold Inc. +4.42%
KCN.AX Kingsgate Consolidated Limited +3.72%
DPM.TO Dundee Precious Metals Inc. +3.53%
SSRM SSR Mining Inc. +3.45%
EVN.AX Evolution Mining Limited +3.29%
1818.HK Zhaojin Mining Industry Company Limited +3.17%
OGC.TO OceanaGold Corporation +3.10%
BTG B2Gold Corp. +3.08%
RRL.AX Regis Resources Limited +2.91%
NST.AX Northern Star Resources Limited +2.88%
TXG.TO Torex Gold Resources Inc. +2.77%
SBM.AX St Barbara Limited +2.58%
WAF.AX West African Resources Limited +2.56%
AGI Alamos Gold Inc. +2.47%
PAF.L Pan African Resources PLC +2.42%
CEE.TO Centamin plc +2.17%
PRU.TO Perseus Mining Limited +1.57%
EGO Eldorado Gold Corporation +1.56%
GAU Galiano Gold Inc. +1.54%
CXB.TO Calibre Mining Corp. +1.11%
NGD New Gold Inc. +1.02%
GSS Golden Star Resources Ltd. +0.26%
Symbol – Gold Small Producers – Daily Change %
WGC.CN Winston Gold Corp. +25.00%
SAU.AX Southern Gold Limited +13.04%
NVO.TO Novo Resources Corp. +10.53%
SAM.TO Starcore International Mines Ltd. +10.00%
SGNL.TO Signal Gold Inc. +9.38%
NIM.V Nicola Mining Inc. +9.09%
INCA.V Inca One Gold Corp. +8.82%
ARIS.TO Aris Mining Corporation +8.36%
ABI.V Abcourt Mines Inc. +8.33%
ALK.AX Alkane Resources Limited +7.48%
IAU.TO i-80 Gold Corp. +7.14%
KRR.TO Karora Resources Inc. +6.88%
RED.AX Red 5 Limited +6.82%
ORA.TO Aura Minerals Inc. +6.81%
JAG.TO Jaguar Mining Inc. +6.67%
SBI.TO Serabi Gold plc +6.67%
MTL.L Metals Exploration plc +6.13%
AUMN Golden Minerals Company +5.69%
STGO.TO Steppe Gold Ltd. +5.36%
AGD.AX Austral Gold Limited +5.00%
CERT.V Cerrado Gold Inc. +4.55%
WDO.TO Wesdome Gold Mines Ltd. +4.01%
GMTN.TO Gold Mountain Mining Corp. +4.00%
SFR.AX Sandfire Resources Limited +3.87%
LUX.CN Newlox Gold Ventures Corp. +3.70%
ASE.CN Asante Gold Corporation +3.65%
ALTN.L AltynGold plc +3.47%
TRX TRX Gold Corporation +3.34%
FTCO Fortitude Gold Corporation +3.33%
CMCL Caledonia Mining Corporation Plc +2.82%
IGO.AX IGO Limited +2.73%
MAI.V Minera Alamos Inc. +1.70%
GORO Gold Resource Corporation +1.31%
I could post the developers and explorers, as many were up double digits, but the lower torque producers paint the picture plenty fine… There may have been a minority of PM stocks flat or in the red today, but they were the exception, and not representative of the sector at large.
It was a solid green day in the PM sector overall… far from disappointing.
My account was positive at open and ended – $135.33 at close. I had many in double % green but had 4 in 4 figures down. They are explorers, but followed the long term pattern of alternating days, although with higher lows. Still range bound but more than half in green with one up 200 % and several up 40%. Emo remains in the red and capped below .50 with heavy troll activity. Overall, the account has moved above the midrange area showing signs of possibly joining a breakout but pattern of intervention is predominant but weakening.
Silver remains as weakest performers, with early positive movement and late day retracement. I have made most of my silver to stocks with multiple metals such as Eloro or i-80. I-80 is one of my best performers whereas Eloro is yet to recover.
Personally I don’t own all those stocks you listed…..my holdings are far more narrow these days and for the most part it was a red day and even the up ones were barely up…….which was really my point and I should have added that most of the sector was up along with the actual PM prices. Hopefully today is catch up day as gold continues higher
I should add that my best performers are Surge Battery, i-80, Fission 3.0 and Magna Mining. Worst are Emo and Lion One. Probably none of mine are in Indexes or ETFs and of limited interest to managed money.
I hear ya guys, but a disappointing day in one’s personal portfolio, is different than a disappointing day in the sector (especially if one has a narrow focus of only a handful of juniors).
My portfolio is a bit more broad with over 2 dozen gold stocks and 2 dozen silver stocks, most concentrated on the mid-tier and smaller producers, but with a fair number of developers and then a few advanced explorers, so tracks the sector to a degree, but regularly outperforms the ETFs by 0.5% – 2% on most days, being more weighted to the medium-sized to some smaller and more volatile stocks than the ETFs.
It’s just interesting to see how sentiment on a number of sites is often divorced from what is actually happening in the markets, when folks are only tuned in myopically their own little universe of stocks versus panning back to see what is happening in the sector as a whole. I see that here and over at Ceo.ca and Twitter all the time, where people are bummed because they’ve thrown such a huge weighting into one or just a few stocks, and if they are down, they assume the whole space is down.
We saw the same kind of thing at most of the turns. Like in late 2018 when the sector started running, many were still complaining about their juniors and I asked a number of people – Don’t you hold any producers or developers or royalty companies?
Then in mid 2019 when the sector started ripping again, many were still whining and it was baffling because things had clearly taken off. The same scenario played out in April 2020, same thing in early 2021 during the Silver Squeeze, and same thing during the rallies last year coming out of July into August, coming out of September into October/Nov etc…. In each case, there were negative sentiment posters fretting over specific juniors that were important to them not moving and so therefore the sector sucked…. but they were missing the forest for the few trees they were staring at.
Like we’ve discussed countless times for many many years, it is always the producers & royalty companies that move first, then the developers, and eventually the smaller junior exploration plays. Why people are not in a diversified basked of producers, royalty companies, and developers when we are at sentiment lows and pricing bottoms is as puzzling today as it has been for over a decade. They are the ones that are going to move first, as they can immediately monetize the higher metals prices, so why in the world are people not positioned in them to catch the initial moves at turns?
Yes, eventually, the exploration stocks will move based on good news, and eventually when the capital works it way down the speculative risk foodchain, but the vast majority of explorers have not proved that they’ve found an economic deposit yet, or worse, have only poked a few holes in the ground, and don’t even have gold, silver, copper, nickel, pgms, uranium, or whatever commodity is of interest yet. It takes real defined or at least indicated ounces in the ground to have optionality to rising metals prices.
Now, clearly, like yesterday, there were a very few outliers that were producers or advanced explorers with ounces in the ground still in the red, but again they were exceptions and not the norm. The danger of overly concentrated positions is that one could be in stocks that don’t track the rest of the sector higher for longer periods of time (weeks to months not just days). Most of the stocks discussed above are not really in that category, as they just had an off day yesterday, but there are plenty of drill-plays that have laid flat for months and didn’t participate in any of the rallies the last 2 years, and worse, sold off during sector rallies. Sure, if they hit a massive discovery drill hole, then they can skyrocket higher, but that is a very risky investing approach, and juggling dynamite. 99% of exploration targets never pan out, so there are much better odds in Las Vegas.
Don’t get me wrong, I love exploration stories and we have a ton of the better ones on our show for company updates, but the reality is most explorers will fail, and will perpetually dilute current shareholders down to a fraction of the capital they started with over time. So if someone is managing risk, it is key to make one’s position-sizing in the highest risk drill plays smaller, then a medium position sizing to more advanced exploration / developers with the optionality of ounces in the ground, and then have a higher weighting to solid producers and royalty companies that have real revenue generating businesses and will stick around. (yes there are a few exceptions that didn’t work out that folks could point to… but they are just that… exceptions). Most producers and royalty companies will track the sector and outperform the metals on bullish days (like what we saw yesterday).
Is easy street at the end of this journey as per Ex? Yes, if you can control your emotions and sell at the right time. It appears to me that now if you are invested in precious metal stocks, the really wise man is he who “bought and held on.” Never forget that stocks and sectors are fleeting, selling at the right time is hard, buying at any time is easy. It’s much like seeing a beautiful woman and knowing when to cut your gaze before she thinks your tawdry. LOL! DT
Hi DT. I don’t remember ever describing investing in this sector as “easy street”, and in fact, I’ve mentioned hundreds of times, that mining is a very tough business, that investing is not easy, that most people shouldn’t manage their own money, that bull market climbs a wall of worry throwing most investors off it’s back on the way up, and that most of the masses of investors fail (in any sector mining, biotech, cannabis, crypto, growth stocks, meme stocks…. pick your pleasure or poison).
You raise a great point though about when to sell, and there is not a definitive one-sized fits all answer, and it varies wildly depending on a traders goal for their specific trade, time horizon, and perceived upside or downside based on fundamentals or technicals. I’d say the key is to sell quickly to limit losses on defense, but on offense to sell to make a profit on the trade. How much profit again can vary wildly depending on if someone just wants to execute a successful day-trade over a few hours, or a swing-trade over a few days or weeks, or a solid position-trade over several months to a year, or a buy and hold strategy over years. There is no right or wrong answer, and different traders have different risk profiles or risk tolerances. For some people sitting in Franco Nevada for the last decade was the best approach. For other people trading a few dozen rallies over that same timeframe in a basket of stocks was the right answer. For some traders they get into and out of the same stock over and over again trading the technical moves, buying dips and selling rips. For others they are constantly rotating into new stocks with profits from other winners and don’t care about sticking around for long periods of time to see how the prior stories unfold. Some people like to get in a stock and ride if for years to squeeze every last bit of a move out of it, but run the risk of making round trips right back down, and others are in only for a few hours, but then miss the longer term potential. For others, going all in on a handful of drillplays and hoping that one of them hits a grand slam is their approach.
All of those approaches can work, but none of them are “easy street” and most will fail in their investing because they don’t have a specific discipline they are following and are going off their gut or following herd behavior into certain cult stocks. The most important thing is knowing what kind of investor one is, what approach strategy is being utilized on a specific stock and across one’s portfolio, and then get good at that style of investing and make more money than one loses. It sounds easy, but it is very difficult.
Ha, Ha, I got ya, but great answer! Take care, Buddy! LOL! DT
Federal Reserve, Top Bank Regulators Flag ‘Significant’ Worries Over Crypto Assets
Jennifer Schonberger · Yahoo Finance Senior Reporter – Tue, January 3, 2023
“The Federal Reserve, FDIC, and the Office of the Comptroller of the Currency (OCC) issued a joint statement on Tuesday warning about ‘significant’ risks crypto assets may pose to the broader banking system.”
“It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the agencies said in a joint statement.
“Given the significant risks highlighted by recent failures of several large crypto-asset companies, the agencies continue to take a careful and cautious approach related to current or proposed crypto-asset-related activities and exposures at each banking organization.”
“Regulators are warning banks about a long laundry list of risks when it comes to crypto, including fraud, volatility, poor risk management, and contagion within the crypto sector.”
Ex-CFO Pleads Guilty To Stealing From SPACs To Trade Meme Stocks, Cryptocurrencies
Jonathan Stempel – Reuters – Tue, January 3, 2023
“A former chief financial officer of multiple special purpose acquisition companies (SPACs) has pleaded guilty to embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies.”
https://finance.yahoo.com/news/ex-cfo-pleads-guilty-stealing-223844651.html
And then there’s this…. These people’s perception of what an average life is or average salary is or average home is, actually is so divorced from the average citizen’s life it is tragic comedy. You can’t make this crap up…. Clearly this is just symptomatic of another bell ringing of just how excessively frothy the US real estate market had become heading into last year before the Fed started hiking rates.
________________________________________________________________________________________________
My Wife And I Live ‘An Average Life’ In The Bay Area Making $320K. Last Year, We Bought A House For $200K Over Asking — Now We Don’t Want To Live In It. Should We Get Professional Help?
Alisa Wolfson – Market Watch – Jan. 3, 2023
To answer them: Yes, you should get professional help to get your head screwed on straight.
Go spend a year in Nebraska, or Kansas, or Oklahoma, or Mississippi, or Michigan, or Ohio, or Georgia, and talk to “average” people and you’ll quickly learn they don’t all make $320,000 per year (maybe knock a zero off it and you’ll be closer), they don’t and can’t buy houses willy nilly that they just don’t want to live in, and only an idiot would pay $200,000 over the asking price for a house. That’s called buying the top.
Many people that bought properties in the last 1-2 years in the FOMO frothy markets, are going to learn a very powerful, but painful lesson as real estate pricing finds gravity and things come back down to Earth. There have been a number of reports out for the last 6-8 months discussing the real estate market starting to crater, and it was obvious in advance that this would be the case when the Fed hiked rates, and in sympathy interest rates and mortgage rates shot higher all year long. When the cost to borrow money goes up, and mortgage payments surge higher, then consumer interest in paying nosebleed levels for homes goes down, so pricing needs to follow to the downside.
Happy new year to all!
I just wanted to point out that my bullish views dating back sometime now have done me well. From iamgold to brixton and others it’s exactly what I expected and further more have followed the outline pattern I’m following.
Way back then when I showed you all my xau/hui chart of the longer term monthly bottom with pointed arrow up and I kept stressing we were in a w formation from that bottom things have been very good.
Along the way we have had to listen to pundits repeatedly say they are out of the game or gold and silver taking a dive or we are headed to $1450-$1650 over and over again. All the while the miners have made some really good gains not all but many. Mr Chris v recently said he had sold everything and was out of the game many others so many never thought for a second about the importance of the market structure change in gold and silver. I’m baffled how such ignorance or non change of course has left many on the sidelines and here we are even within this board some saying this can happen it that can happen with the sense of be careful we will head down. This is exactly how retailer investors miss out. We are now reaching that technical number I had mentioned way before Gary Bein $1902-$1920. If I only knew how to go back to my previous post I would try and pull them up. Not as good as Matthew and ex. But yes here we are. And I don’t see any let down. Hui/xau are going much higher. I said January and February will rip.
Brixton is headed exactly we’re I said it will.. Next stop .46-.52
Impact silver.. you guys have nothing absolutely nothing to worry about. I’ve said it just the other day it’s under massive accumulation and distribution from weak hands to powerful ones and even mentioned it could take another month before it rips like you never seen before. Is anyone listening?
All the best fasten your belts we are embarking on the biggest fastest move up in miners we have ever seen. And now it’s a matter of time before the explorers/discoverers have their day. They will pop fast and furious.
Glen
IPT won’t need even close to a month to get going. The whole sector will be much higher by then. Where oh where are the bulls right NOW?
I would not disagree on this. I posted probably two weeks ago that I could see 1/2 months before going higher. I believe we are on the third week of that call. I would be more then excited if we take off today I own impact.
glenfidish
Dec 05, 2022 05:22 AM
Thanks for the charts Matthew! Thanks to contributors.
Usd target on a previous call of mine has hit my zone to the tee..1.04-1.02 i expect futher downside to that 1.02 level give or take.
gold resistance stands at $1793 but the stronger support stands at around $1778-$1780 ish look for gold to continue its projectory higher into that $1843 ish level rest and higher..
Of the three daily, weekly and monthly, the weekly is very telling here when combing all three and pass history/patterns
This move higher in gold is catching many many by surprise and keeping them on the sidelines. There will be times of corrections but currently i see short stops and higher. A higher correction should come down the road imo
Here is a bull for sometime now 🙂
glenfidish
Nov 13, 2022 13:25 AM
Terry,
i will only respond this one time with you since you have some type of personal thing with iamgold and have been repeatedly at the forefront with it.
Iamgolds big 4 institutions alone will make sure to turn this ship around and they have begun to do so with the most recent let go of directors and interim ceo.
with the current sale of rosebel and proceeds of $360 million in cash and take over of lease equipment at 40 million, the cash raised is an a plus in my books and ready to be put on its book after the new year when regulatory body approves.
The current debt iamgold has is no different then the debt kinross, barrick and so many more mid/large cap companies have. The obligation is interest payment and that is a no brainer. Iamgold comtinues to produce roughly 550,000-600,000 this year. It latest release beat analyst expecations by 17% a huge miss by analyst probably aslo why its outperforming many of its peers.
With its enourmous cash on hand of 500,000 roughly and 360,000 comin on board soon, you can see why the financing wont be as big an issue as many think. They will manage to raise the rest of the cash no doubt and im sure without affecting the core assets.
Iamgold will turn into a large producing companyat 1 million plus by 2024/2025 at the meat of the gold bull. You cant ever discount anything but i feel good about my chances and the assets we have speak loud for themsleves.
With cote high margin project to come on board and be a world class leader in equipment and machinery being used, i would classify iamgold ahead of the pack in some regards with future. as you probably know they will be running man less trucks and equipment.
with approximately 860, million cash by first quarter 2023 and 1 year away from production at that point you can see why iamgold is going to move before the production date imo.
esskane and westwood will hold the fort combined with approx 450,000-475,000 next year..
with cote coming on board the additional 500,000 will allow iamgold to nearly reach its 1 million an ounce per year..the icing on the cake should come from boto project and its development which will eventually tip us at over 1.1/1.2 million
getting this ship on track is all that is needed and funding if needed can always come from the huge exploration land packages they have or private placement. i dont consider 500 shares outstanding to be huge when eventually we will be producing like 1 million plus at low cost.
by the way 1.2 or 1.3 billion revised to build a plant is the new norm.. inflation will make gold and silver reverse to the means and a repricing of the metals is and will happen in any due time.
Here’s another post had anyone listened they would be up handsomely 🙂 one of the best performers of the sector and just getting started
Nice to hear your update Glen…..impact just seems forgetting these days based on volume or lack there of…..brixton had drill results that were nothing special
Hi wolf
I believe brixton has run up because they have some bonanza finds they have probably not fully shared as of yet but hinted. There to release an update first quarter I think it will be a find of big proportions that’s what the charts is telling us. Why the money backing them up now. Just my own assessment of things
Hope you’re doing well and all your stocks are aligning. Thanks for always giving your investment advice or opinion it’s very valued as is many of the contributors here.
Regarding impact Matthew could very well be right we take off very soon and I would not be suprised one bit.
Cheers buddy
I think Brixton’s results today are more special than you think but it would be great if a geo would step up to confirm or deny that opinion.
I’m certainly no geo expert ….. results to me weren’t negative but contained no wow factor either. More or less ho him slowly expanding the reserves and theory.
Perhaps not obvious wow factor but the implications regarding the scale of the project is what got my attention.
Vice President of Exploration, Christina Anstey, stated, “We are encouraged by the large-scale potential of the Camp Creek Copper Porphyry Target. We collected a molybdenite sample for age dating (pending) from hole 150 which was drilled to 829m in the Oban Diatreme Breccia (see Figure 2 and 3) where considerable mineralized (chalcopyrite-molybdenite) porphyry clasts were identified. This is important for a few reasons: one is that hole 150 is collared 1000m east from hole 213 and we have yet to make the connection genetically or physically from the mineralized diatreme to the porphyry; and two, if we can make this link through age dating then it really opens up the eastern potential of the target which has not been drilled at depth.”
Chairman & CEO, Gary Thompson, stated, “We are excited to see the potential scale emerge of the Camp Creek Porphyry Target. The distance between these two reported holes is 420m. Drill hole 213 was collared 235m west-southwest of the collars for 201-184 and drill hole 231 was collared 280m north from the collars for 201-184. Mr. Thompson further stated that, “we have yet to process all of the 2022 data and convene our maiden technical committee meeting with BHP but one of the 2023 exploration objectives may be to identify the high-grade copper core of the Camp Creek porphyry and to test the limits of the mineralized system.”
——————————
To be fair, significant scale was already likely which is why BHP took such an interest in it.
In addition to a pending Camp Creek assay I believe there are assays and drill results pending for the Trapper target and the timing couldn’t be better now that gold will be heading higher.
glenfidish
Nov 27, 2022 27:39 PM
Hi wolf thank you for your post the feeling is mutual. Also thank you for bringing that up regarding charts with matthew and more of comments/update type for me 🙂 its not for lack of having charts although i did post some important ones two months back for hui/xau that are playing precisely to what was called.
Good charts matthew on the shorter term perspective with wti. I remain with my longer term call which is sideways here or stairstep down for few months then fall off a cliff into summer.. Mark this down, 45/50 ish handle a buy of a lifetime down there. This move down is going to fuel miners higher very fast imo.
Im still sticking with my 1.02/1.04 usd call end of month or first week of december
I’m still sticking to this wti call way back then when everyone was horny with it going to the moon. Not sure if it gets as far down as there but I see more downside what is fuelling miners gold and silver
Glenfidish
Nov 29, 2022 29:44 AM
For those who appreciate my calls here goes!
Brixton has a short term target of .25.5 which will provide very little resistance imo and blow through it to hit that .29-.31 level. There is a possibility of breaking through these numbers and going directly to .46-.50 but it’s 50/50 with calls sometimes. Either scenario has us pausing complete month of December into a daily bullish wedge formation. December now imo will become a red monthly for hui/xau/brixton etc. Can I be wrong? Yes but I’m sticking to this call.. January would see a major breakout for brixton if the plan go accordingly
The 50/50 worked out and even better we did not see a red monthly candle!! Higher targets on the way Imo
Big widths.
Account back to almost even:
Gainers ($) : Fission 3.0, i-80, Timberline
Losers($): Emerita, Surge, Magna
Happens randomly that the alternate days and direction …. Maybe only 80% + or – of the time. Like I mentioned, purely random. Remember that experts predict explorers do the best in good times and they aren’t in ETFs or index funds. Could that motivate intervention and negate the lack of random behavior. Remember the CFTC conducted a 3 or 5 year study of paper silver market manipulation and declared there was no evidence of such a thing right before JPM pled guilty.
(Current account value: $156.45) Which should I sell to solve this problem.
Silver ran precisely into fork resistance today.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=6&mn=11&dy=0&id=p06091755870&a=501194637