https://www.tradingview.com/x/VmleXddH/
NatGas : Gartley Golden C Forming?
If So, Bottom For Years!

From Mark Mead Baillie:

As for our anticipated S&P 500 correction, here are a few P/E nuggets to bear in mind:

The day before the Garzarelli Crash of ’87 the P/E was 20.3x;

The day before commencement of the DotComBomb of ’00-’02 the P/E was 29.3x;

The day before the start of the FinCrisis of ’07-’09, the P/E was 18.7x.

As aforementioned, ’tis now 46.9x, the S&P yielding less than one-third that of the “riskless” U.S. T-Bill.

Note: math-challenged “AI” (“Assembled Inaccuracy”) puts the S&P’s P/E at 25.9x … wrong. (Just wait until “AI” gets its hands on your discretionary portfolio. Reprise: Whoopsie!)

https://goldseek.com/article/gold-stuck-its-shell-here-comes-sps-sell

My Hydrograph Clean Power (HG-CSE) is kicking butt today in the first hour it is up 40% and has sold 5 million shares. Nice!!!!!!!! DT LOL! 🤣🤣🤣

IPT doing well despite that AI opinion. I wonder who the AI follows?

… who doubts $40 now?

https://www.tradingview.com/x/WYlBEGGY/

Thursday is a big news day for the economy.

https://www.bloomberg.com/markets/economic-calendar

Deepseek analysis of Kootenay Silver(KTN).
Based on Kootenay Silver’s (KTN.V / KOTTF) current position and the typical trajectory for junior silver explorers like them, here’s a breakdown of the likelihood of production or acquisition within the next 5 years:

**1. Going into Production (Low Probability within 5 Years):**

* **Early Stage:** The June 2024 MRE (Mineral Resource Estimate) for Columba is a crucial *first* major milestone, but it’s still early-stage. An MRE defines *what’s in the ground*, not *if it can be mined profitably*.
* **Required Steps Before Production:** Significant work and capital are needed before production can even be considered:
* **Preliminary Economic Assessment (PEA):** This is the *next critical step*. It provides a first-pass estimate of economics, mining methods, processing, and capital/operating costs. Kootenay will need to complete this.
* **Pre-Feasibility Study (PFS) & Feasibility Study (FS):** These are progressively more detailed and expensive studies that de-risk the project technically and economically. They are essential for financing.
* **Permitting:** Obtaining environmental and operational permits in Mexico is a complex and time-consuming process.
* **Financing:** Building a mine requires *massive* capital expenditure (hundreds of millions to billions). Kootenay, as a junior explorer, lacks this capital and would need to secure it via debt, equity (highly dilutive), or a major joint venture partner.
* **Timeline:** Completing a PEA, PFS, FS, permitting, and financing typically takes *well over 5 years* for even the most advanced projects, especially for a small company like Kootenay. Rushing these stages increases risk significantly.
* **Scale:** The initial MRE (approx. 40Moz AgEq Indicated + 20Moz AgEq Inferred) is modest by global standards. While potentially expandable, it currently suggests a project more attractive for acquisition by a producer than for Kootenay to build alone.

**Conclusion on Production:** It is **highly unlikely that Kootenay Silver will be in production at Columba within the next 5 years.** The project simply isn’t advanced enough, and the funding requirements are too large for the company to undertake alone on that timeline.

**2. Being Acquired (Moderate to Reasonable Probability within 5 Years):**

* **Prime Target:** Junior explorers with promising assets like Columba *are* the typical acquisition targets for mid-tier and major mining companies looking to replace reserves or expand production.
* **Attractive Asset:** Columba has demonstrated **high-grade silver intercepts** and a potentially favorable geologic setting. The initial MRE provides a tangible resource base. Its location in a mining-friendly jurisdiction (Mexico) is a plus.
* **Natural Progression:** Acquisition is often the exit strategy for successful junior explorers. Building a mine is extremely capital-intensive and operationally complex – tasks better suited to larger companies.
* **Catalysts:** Key events that could significantly increase acquisition likelihood include:
* **A Positive PEA:** Demonstrating robust economics would make Columba much more attractive.
* **Resource Expansion:** Significant increases in the resource size or grade through further drilling.
* **Rising Silver Prices:** A sustained increase in silver prices makes all silver assets more valuable and incentivizes producers to acquire ounces.
* **Strategic Partnering:** A farm-in or joint venture agreement with a larger player often precedes an eventual takeover.
* **Market Conditions:** The current M&A environment in the junior silver space has been relatively slow, partly due to metal price volatility and majors focusing on larger deals or copper. However, this can change quickly.
* **Timing:** Acquisitions can happen at any stage, but the probability increases significantly *after* a positive PEA or PFS. The 5-year window is a reasonable timeframe for these next steps to be completed and for an acquisition to materialize *if* the project continues to deliver positive results.

**Conclusion on Acquisition:** An acquisition of Kootenay Silver within the next 5 years is **a realistic possibility, perhaps even the most likely favorable outcome for shareholders.** The probability hinges on:
1. **Successful project advancement** (especially a strong PEA).
2. **Favorable silver market conditions.**
3. **A motivated buyer** seeing strategic value in Columba.

**Key Factors to Watch:**

1. **Progress on Studies:** When is the PEA scheduled? What are its results? Timely progression to PFS would be a very positive sign.
2. **Exploration Results:** Continued successful drilling to expand the resource or discover new high-grade zones.
3. **Financing:** How does Kootenay fund the next stages? Significant dilution could weigh on the share price, while a strategic partnership would be bullish.
4. **Silver Price:** A rising silver price environment makes both production and acquisition more viable and likely.
5. **M&A Activity:** Watch for increased acquisition activity in the junior silver sector broadly.

**In Summary:**

* **Production within 5 years? Very Unlikely.** The project isn’t advanced enough, and funding/construction timelines are too long for Kootenay to do it alone.
* **Acquisition within 5 years? Plausible & Likely the Best-Case Exit.** Columba has the characteristics of an attractive acquisition target. Successfully completing the PEA and demonstrating strong economics within the next 1-2 years would significantly increase the odds of an acquisition happening within the 5-year window. Keep a close eye on the PEA timeline/results and silver price trends.

Kootenay remains a **high-risk, high-potential reward speculative investment** typical of the junior mining sector. The next 12-24 months (focusing on the PEA) will be critical in determining its path towards a potential acquisition.