Dave Erfle – Volatility In Silver And Gold Stocks Around The SILJ Rebalance, And How To Build Your Own Junior PM Mining ETF
Dave Erfle, Founder and Editor of the Junior Miner Junky, joins us to discuss the volatility in many silver and gold mining stocks earlier this week due to the SILJ rebalance, and tips on how to build your own junior mining ETF. Dave makes the point to never sell a dull market, and that when we see outsized corrective moves to the downside, that these are the areas to actually be accumulating the quality PM producers and developers, while the sector is undervalued and underfollowed.
We also have Dave point out his technical outlook in gold, and the gold ETFs like GDX, GDXJ, and weigh in some of the macroeconomic news we got this last week. We wrap up with what financial data he is looking at moving forward, that may provide the catalysts for a breakout in the precious metals sector.
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As mentioned in the interview with Dave Erfle up above, some of these choices of gold producers and large silver producers and royalty companies are really not the right choice for a “Junior” Silver ETF, but alas they opted for the more liquid larger names…. but this ETF is definitely NOT a good proxy for true silver junior stocks.
It is however a good proxy for an overall balanced silver/gold/royalty basket, with some quality companies included, and has merit in that sense. Clearly it could still be an attractive trading vehicle to use in the PM sector whether for longer term accumulation, trading options, or just swing-trading the ETF.
For that matter though SIL is the same basic thing, or so is GDXJ. The makeups are slightly different, but moving forward, I’d still anticipate their performance to all be relatively similar from this point forward considering all the overlap. I guess this weighting in SILJ, flawed as it is for a true junior silver basket, is still a very compelling basket of stocks, and I personally hold 17 of those positions in my portfolio as well. This SILJ could be a nice diversified PM anchor position in one’s portfolio, and then one could stack up a lot of juniors in addition to this for more torque.
Still the main takeaway from Dave’s interview is that if you really want a true junior basket of silver stocks or gold stocks, then you need to #BuildYourOwnETF.
Gold Volatility Increases as Fed Pivot Remains on Hold
David Erfle – Friday February 2, 2024
https://mailchi.mp/757b4ecab24d/david-erfle-weekly-gold-miner-sector-op-ed-1602521
SILJ Holdings as of Feb 2nd, 2024:
Name Ticker CUSIP Shares Market Value % Market Value
COMPANIA DE MINAS BUENAVENTURA ADR BVN 204448104 4,387,386 $69,364,572 10.99%
HARMONY GOLD MINING CO LTD HMY 413216300 6,961,640 $46,642,988 7.39%
PAN AMERICAN SILVER CORP PAAS CN 2669272 2,700,820 $37,934,505 6.01%
HECLA MNG CO HL 422704106 8,528,185 $33,601,048 5.32%
WHEATON PRECIOUS METALS CORP COM WPM 962879102 672,362 $32,300,270 5.12%
COEUR MINING INC. CDE 192108504 10,172,300 $29,092,778 4.61%
AYA GOLD & SILVER COM NPV AYA CN BK94091 3,513,771 $27,557,960 4.37%
ARTEMIS GOLD INC ARTG CN BKLTQ63 4,731,778 $23,635,078 3.75%
SILVERCREST METALS INC SIL CN BYVY3D2 3,943,639 $22,050,391 3.49%
FIRST MAJESTIC SILVER CORP AG 32076V103 4,264,104 $20,936,750 3.32%
MAG SILVER CORP COM MAG CN 2581332 2,064,105 $19,327,661 3.06%
FRESNILLO PLC FRES LN B2QPKJ1 2,552,347 $16,898,458 2.68%
VIZSLA SILVER CORP VZLA CN BM8VBZ0 10,632,687 $15,853,710 2.51%
GATOS SILVER INC GATO 368036109 2,352,808 $15,505,004 2.46%
SKEENA RESOURCES LTD SKE CN BMDM761 2,891,509 $13,753,179 2.18%
PRIME MINING CORP PRYM CN BKTTMM3 8,252,602 $13,658,460 2.16%
I-80 GOLD CORP IAUX 44955L106 7,726,309 $12,516,620 1.98%
SILVERCORP METAL INC COM SVM CN 2784261 5,015,059 $12,188,535 1.93%
HOCHSCHILD MINING HOC LN B1FW502 8,530,889 $11,393,562 1.81%
SSR MINING INC COM NPV SSRM CN BF7MPL9 1,083,457 $10,654,040 1.69%
ENDEAVOUR SILVER CORP EXK 29258Y103 6,181,594 $10,323,261 1.64%
FORTUNA SILVER MINES INC COM FVI CN 2383033 3,117,453 $9,923,975 1.57%
GOGOLD RESOURCES INC GGD CN B60BNP0 9,560,201 $9,550,579 1.51%
SEABRIDGE GOLD INC SEA CN 2246459 856,865 $9,377,700 1.49%
ELDORANDO GOLD CORP NEW COM ELD CN BHZJ5Y9 541,564 $6,976,721 1.11%
IVANHOE ELECTRIC INC IE 46578C108 772,164 $6,864,537 1.09%
ASCOT RESOURCES LTD AOT CN 2052399 13,656,187 $6,312,175 1.00%
DEVELOP GLOBAL LTD DVP AU BNVQGB0 4,051,333 $6,232,208 0.99%
ADRIATIC METALS PL ADT AU BD215T5 2,452,370 $5,747,052 0.91%
TRIPLE FLAG PRECIOUS METAL TFPM 89679M104 409,745 $5,363,562 0.85%
ANDEAN PRECIOUS METALS CORP APM CN BNDS6V4 8,674,143 $4,656,042 0.74%
NEXA RES S A NEXA L67359106 632,314 $4,533,691 0.72%
KINGSGATE CONSD KCN AU 6492731 4,447,567 $3,930,360 0.62%
SILVER MINES LTD SVL AU B1HMJH5 35,263,813 $3,924,228 0.62%
ADRIATIC METALS PL ADT1 LN BL0L5G0 1,615,092 $3,789,708 0.60%
GENERATION MINING LTD GENM CN BFZYK34 18,405,331 $3,773,411 0.60%
SIERRA METALS INC SMT CN B83BRQ0 5,104,286 $3,234,534 0.51%
SANTACRUZ SILVER MNG LTD SCZ CV B7LK5P7 16,656,901 $3,228,683 0.51%
SSR MINING IN SSRM 784730103 325,142 $3,199,397 0.51%
GUANAJUATO SILVER CO LTD GSVR CN BMDM727 19,466,275 $2,902,490 0.46%
SEABRIDGE GOLD INC SA 811916105 259,217 $2,843,610 0.45%
FORTUNA SILVER MINES INC FSM 349915108 815,372 $2,601,036 0.41%
TASEKO MINES LTD TGB 876511106 1,557,586 $2,305,227 0.37%
PAN AMERN SILVER CORP PAAS 697900108 138,508 $1,948,807 0.31%
AMERICAS GOLD AND SILVER COR USA CN BK7CQN3 6,156,862 $1,457,340 0.23%
CHESAPEAKE GOLD CORP CKG CN 2969886 884,647 $1,384,991 0.22%
ELDORADO GOLD CORP NEW EGO 284902509 94,794 $1,222,842 0.19%
AVINO SILVER & GOLD MINES LTD ASM CN 2474261 2,508,887 $1,197,068 0.19%
MCEWEN MNG INC MUX 58039P305 131,709 $920,645 0.15%
BEAR CREEK MNG CORP COM BCM CN 2578668 4,776,604 $819,039 0.13%
SILVERCORP METALS INC SVM 82835P103 227,907 $549,255 0.09%
TRILOGY METALS INC NEW TMQ 89621C105 1,020,306 $538,925 0.09%
SILVERCREST METALS INC SILV 828363101 89,856 $504,990 0.08%
AVINO SILVER & GOLD MINES LTD COM ASM 053906103 456,415 $219,124 0.03%
AMERICAS GOLD AND SILVER CORP COM USAS 03062D100 492,523 $118,205 0.02%
SOMBRERO RES INC NPV BLSN9G6 BLSN9G6 585,867 $8,735 0.00%
TREVALI MINING CORP TV CN BPP3CJ1 967,999 $0 0.00%
KOOTENAY RESOURCES INC 284380Z CN 284380Z CN 224,973 $0 0.00%
Cash & Other Cash&Other Cash&Other 13,742,106 $13,742,106 2.18%
https://amplifyetfs.com/silj-holdings/