Sean Brodrick – General US Equities Weakness Shifts Focus Into Cannabis, Uranium, Copper, Palladium, Smallcap Oil, And Gold Stocks
Sean Brodrick, Editor of Wealth Megatrends and contributing analyst to Weiss Ratings Daily, joins me today to review how he is taking a more defensive posture investing in the general US equities, but seeing more capital rotate into commodity megatrends. He is focused adding resource stock allocations in the cannabis, uranium, copper, palladium, small-cap oil, and gold sectors. For each sector, we review the technical price action of the underlying commodities, the supply/demand fundamentals of those markets, and then drill down into the types of resource stocks that have Sean’s attention. It’s a nuanced discussion where we weave in both the macroeconomic data and geopolitical effects of global trade, to assess the economic health and market expectations around future Fed rate cuts.
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2023 Highlights
Processed 1,883,446 tonnes of material, a 14% increase year-over-year
Produced of 22,641,052 silver equivalent ounces, a 25% increase year-over-year, including:
7,004,582 ounces of silver, a 25% increase year-over-year
91,616 tonnes of zinc, a 26% increase year-over-year
12,369 tonnes of lead, a 23% increase year-over-year
1,254 tonnes of copper, a 3% decrease year-over-year
Cash cost per silver equivalent ounce sold of $18.96 , an 8% increase year-over-year
AISC per silver equivalent ounce sold of $22.69 , a 13% increase year-over-year
Revenue of $251,256,000 , a 10% decrease year-over-year
Adjusted EBITDA of $50,980,000 , a 237% increase year-over-year
Arturo Préstamo, Executive Chairman and Interim CEO of Santacruz, commented, “In 2023, Santacruz continued to build a mid-tier silver and base metals producer. The Company completed several mine optimization initiatives including the integration ramp that connects the Tres Amigos and Colquechaquita underground mines at Caballo Blanco in Bolivia . And in Mexico , the operational restructuring at the Zimapan mine has already resulted in cost savings.”
Mr. Préstamo continued, “The Company has also made significant progress on improving its financial position, and recently announced amended terms of sale with Glencore for the Bolivian assets. This is expected to further strengthen our balance sheet by significantly reducing the value of the consideration payable that will be recorded on our balance sheet, which will be reflected in the next quarterly financial results.”
22M silver equivalent ounces, that’s over $0.5B flowing through every year at $25/ounce silver. That’s alot of cash.
FREAKY FRIDAY AGAIN……………….. CHINESE HOLIDAY…….. BACK MONDAY……….
GOLD GOING UP…………… 🙂
Have a great Week…..
Sean better have a look at Platinum…. just might be a changing of the guard…. 🙂
The changing of the guard is probably because Russia has indicated it wants peace talks. As soon as the War in Ukraine is officially declared as over, Russia won’t be flooding the market with platinum and up she goes. As per RR……….! DT
thanks for the added comment….
How about those employment #s. Cures everything wrong with the Economy. Dow up … it is, after all, Friday.
FWIW
Another person that may be a good “interview” is Vince Lanci. Not sure if he does them but he does put up a morning update on YouTube. He evidently is tied to Miles Franklin.
Schwab having trouble showing Customer Accounts.(come and go)
Expect Bank Runs, Hundreds of US Banks will Fail! DT
Average hourly earnings down
Non-farm payrolls down
Unemployment rate up
Services PMI up
ISM non-manufacturing PMI down
ISM non-manufacturing prices up
All that and the dollar down but silver and gold down…???!!!
Have not listened. Will later.
But shifting focus is a mistake:
Gold before. Gold now. Gold forever!
Hi BDC. Yes, agreed, and Sean agreed in the interview as he is moving money out of one gold stock into another with more torque. His shift in focus was more away from general equities (as they are correcting as noted in the S&P 500 chart he included) and putting more emphasis on the commodities sector.
Santacruz reports 4th quarter and year end 2023 financial results. DT
https://money.tmx.com/quote/SCZ/news/4831961561172907/Santacruz_Silver_Reports_Fourth_Quarter_and_Year_End_2023_Financial_Results