Hour 1 – Extended Interviews with Rick Bensignor and Joe Mazumdar
This week I’m featuring Rick Bensignor and Joe Mazumdar, both with extended interviews!
- Segments 1 and 2 – With Rick Bensignor, we dive into and the macro-economic factors that are impacted investment decisions in the US. He shares some of his recent positions and where he stands now for US markets, gold, silver, and the USD dollar.
- Joe Mazumdar we discuss general portfolio management for a precious metals investor when the whole sector is moving higher. We look at everything from exploration to development companies and share some thoughts on marginal assets.
Exclusive Company Interviews This Week
- Corvus Gold – Follow up on the recent deep drill result and exploration plans for this new discovery
- IsoEnergy – Uranium market overview and exploration overview for the upcoming drill program
- Ascot Resources – An overview of the recent Feasibility Study on its Premier and Red Mountain Projects
Yesterday, the four political parties in Canada asked for a government bail out so they can pay their staff and administrative costs. The total they are requesting is just under $80 million. Well Duh? Don’t cut expenses and lay off staff, just spend, spend, and spend like there is no tomorrow. How long will that last, 3 months? DT
The municipal government in Toronto is now also asking for a major bail out, or they will start drastically reducing government jobs. The depression is starting to bite hard. The rubber has met the road. DT
No worries DT. Justin’s dad showed him where the magically money tree is
Wolfster, like they say about the apple and the tree, Pierre Elliot Trudeau was The Prime Minister who started the big government spending spree and his son will be the one to end it, but not by choice. DT
I agree DT! On a different note the average home price in ontario/greater toronto area etc has not seen those peak highs since 2015 fall/ 2016 spring when I would drive by new developer housing offices with a line-up of 30 people on picnic chairs lol..I can’t seem to find anymore people yet alone staff working in those sales offices.
I should elaborate what I was referring to on my first line DT lol..I meant housing.
Glenfidish, in life there are always options for opportunists. Take the housing market in Toronto, the time to buy is not now ( possible 8-10 years) but keep stacking in the precious metal market and you may find yourself living in Forest Hill, and getting Wolfster to do a kitchen/bathroom reno for you. LOL! DT
Hahaha…..in 8-10 years I better be in sechelt on the Sunshine Coast……but if I’m not ,yes I’m all up for doing any Reno’s in forest hill. They will be the only ones who can still afford it.
Yes DT. I’m was too young to understand the spending spree effects of his dad at the time but I did learn the consequences as I got older. Amazing how father and son have so many admirers. My older sister was infactuated with Pierre as a teenager.
Hey wolf,
I tell ya, looks and charm and age sell! Prior history as you say always repeats itself. Im convinced cycles is applied to everything in life.
Im convinced Canada is a vassal of the U.S.
On occasion Pierre and Justin made it seem as Canada is independent, every now and then they make a decision the americans pretend to be indignant about.
Canada supports the american military aggression, troops in Iraq,selling weapons to Saudi parroting the lies of a Russian invasion of Crimea.
I just dont think they can be personally blamed any more than any other leader, they are simply doing as they are told.
As Carlin said, we can choose which color smarty to eat first, or what movie we watch, but we have no choice about anything of importance.
The issue we face is far larger than the prime ministers and presidents.
Another economic disease, the self generating effect of the depression itself. Each bankruptcy, each job loss, has decreased the potential buying power of the country. The economy is a set of dominoes knocking out one another as they fell. DT
Just beginning……….World is in a serious mess……..and those responsible need to be held accountable….
https://www.zerohedge.com/health/bay-area-hospital-sees-unprecedented-spike-suicides-during-lockdowns
Jerry wrote yesterday,
Did Peter say anything new…….? or the same record played a million times….?
Of course , I think he is correct and has supplied some great thoughts…..but, unless he has something new to say…….just label it as repeat ……. 🙂
He has been a pillar since day one advocating government spending, debt, and timed the housing crash wayyy before anyone else i seen personally. His only issue to me is his timing with miners. He has told to buy but has never said when to sell many have been hurt by his calls. If you are a stacker of the metal itself them he has helped tremendously.
So for as long as he pumps or sings the tune or tells the truth how I see it, i will stay in the game.
Hello Glen…
…if, we are talking about Peter Schiff……I would agree,he has been a pillar, along with his father!….But, I have been hearing the same thing….forever…….Ebo, of course , knows we have heard the same story, ….nothing new, but, good for review……I even enjoyed his father IRVIN’s tape , in 1998..which was a perspective of a Libertarian , of which I would call myself as well. The TWO HEADED SNAKE PARTY, is not going to let anything new happen, the sheeple are going to have to revolt, but, they have not figured it out yet.
I also, said this……..
On May 22, 2020 at 3:16 pm,
OOTB Jerry says:
Irwin……..was spot on……IRS killed him……
On May 22, 2020 at 3:17 pm,
OOTB Jerry says:
Everyone should watch the tape……..then they would not be a STRAWMAN, any longer
On May 22, 2020 at 3:20 pm,
OOTB Jerry says:
Ditto Ebo…….GOOD STUFF…….clueless american sheeple……
They sure as heck wont revolt as long as they receive checks from the government.
Here is the tape…..which we are referring…..by EBO
Worth a watch for those who like paying the IRS…..
his comment
On May 22, 2020 at 3:09 pm,
Ebolan says:
But here is something you might not have seen.
https://www.youtube.com/watch?v=3D_yq6PCdYk
Reply to this comment
b……..even the sheeple in the roman empire expired after the grain, and gold ran out…….
b……you are correct, as long as the sheeple get a check, they are not going to revolt…
Kind of interesting that I actually got a check. Would I consider voicing an opposite opinion? OF COURSE IS WOULD!
The pattern of empires collapsing is being followed
Trump is now threatening war with Venezuela and Iran simultaneously.
Amazes me people dont see him for what he is.
Churchill ended the British empire following the orders of those we may not mention, maybe thats Trumps goal as well.
Makes one wonder……….Trumpster all over the place…. Two more on the check list….
Whoever Is Elected War Is the Policy
The neoconservatives, with their preference for war uber alles are running the Trump regime. It appears that the reelection of Donald Trump will be a continuation of the Bill Clinton presidency, the George W. Bush presidency, and the Obama presidency. Whoever is elected War is the policy.
https://www.paulcraigroberts.org/2020/05/23/whoever-is-elected-war-is-the-policy/
Jerry,
I absolutely know where you stand. Thanks for those quotes in the pass I agree. I, on your team.
Glen, …..thanks for the reply…..appreciate your thoughts……always glad to have confirmation……as Ex would say…..Cheers…. 🙂
I think DT’s letting worrying too much about spending and debt. As we enter the Age of Aquarius – Harmony and understanding, Sympathy and trust abounding, No more falsehoods or derisions, Golden living dreams of visions. All debt will be forgiven, no one will need to work, housing will be free and forests of magic money trees will grow as far as the eye can see
Ha, Ha, Ha……..good one Nigel………… 🙂
Deflation Will Give Way To Hyperinflation, And An Investment Dilemma
May 22, 2020 – Zoltan Ban
“While there is broad market consensus in regards to deflation being the main threat going forward, there is good reason in my view to expect deflation to turn to hyperinflation.”
“The main aspect of the crisis which makes hyperinflation probable is the supply-side disruptions it has the potential to unleash, while central banks are engaged in massive money printing.”
“The investor’s dilemma within the context of a dual threat of deflation turning into hyperinflation is to find assets that are suited for both price inflation scenarios.”
As The Fed Goes ‘Weimar,’ Gold, Silver, Miners Will Go Parabolic
May 21, 2020 – Dave Kranzler
https://seekingalpha.com/article/4349460-fed-goes-weimar-gold-silver-miners-will-go-parabolic
Stay the course……….. J the Long…….. 🙂
Yes sir…. stay the course…
The Long Iron……….. 🙂
Haha! In the spirit of Happy Gilmore (the true long iron):
🙂 …..
From the savage!
More potential warning signs for metals
In my last video I called attention to the potential for an attack on metals. Gold almost always suffers attacks by the bullion banks ahead of options expiration. There are some warning signs starting to pop up that a larger attack may be coming. Metals are one of the most heavily manipulated markets on the planet. One has to constantly be on the look out for suppression. The bullion banks are very good at robbing gold bugs.
Glen…….I would have to agree………
Jerry,
I finally disagree on something with you. Well not so much with you but i get gary’s just. The problem i see with gary is he makes many calls based on emotions yet he preaches don’t show emotions when trading. He should listen to his own words. Ive learned a great deal from gary mostly cycles which when implemented with matts charts you have a greater then 70% chance to make profits. You ask me that not to shabby. You throw in many of you find folks opinions and it gets better.
But gary’s free second last video he states he told his subscribers to put a stop loss on and they broke even. Its always break even. He then comes on the next free video and says he is riding hi on this break out. Come on which is it?
Me and matt have been clear we expect higher prices and this is a 2-3 day correction. If im wrong thats fine but i made a call and stuck to it. No after the fact hocus pocus lol.
Anyhoo ootb correction will come but not before the gentlemen’s club makes theres and exchanges hands at the top. Wash, rinse and repeat
Bob M is another guy who
I agree about Gary. His cycles work is his strength. Market manipulation and conspiracies in general are facts of life and important ones but I don’t think I’ve ever found his scenarios and conclusions to be compelling.
I’d agree with you guys regarding Gary S. His cycles for when daily cycle lows or intermediate cycle lows are good guidelines, and he does do some good chart analysis regarding bullish or bearish trending markets using moving averages, or trend lines, but he often blames banker for market manipulation if his thesis doesn’t play out, and it would be better if he went back and evaluated where things played out differently than he was expecting, instead of blaming it constantly on manipulation.
Gold: Attack warning yesterday
SmartMoneyTracker – G.S. – May 21, 2020 #TechnicalAnalysis #Chart #VIDEO
https://blog.smartmoneytrackerpremium.com/2020/05/gold-attack-warning-yesterday.html
Hello Glen,
I guess I need to make some clarifications………
First, I do not listen to GARY S., I mentioned years ago, I thought he was a flaky mountain climber,…which someone, at Seeking Alfa quoted me…. 🙂
Second, my agreeing with you, …was based upon,….”The bullion banks are very good at robbing gold bugs.”…which come to no surprise.
3rdly, Metals…as we all know…”.are one of the most heavily manipulated markets on the planet”..,..which I think we agree.
4th….being manipulated, and the cycle, regardless
…….gold , silver and PMs are going to the moon, sooner or later…..
5th……it is always great to have clarifications, keeps everyone on their toes.. 🙂
Happy Memorial Day……meant in the kindest regards.
Jerry both you and ex could not have said it any better!!
I will end with what Matt said, his cycle analysis is his strength I think most of us could agree on that :).
Lol for the flaky mountain climber you have me rolling.
Thanks, glad you enjoyed …… best…… 🙂
On the stock side of things, I noticed that roxgold had 2 big crosses in the afternoon as volume jumped from just over 300,000 to 8M plus. Similar action to what happened with pure gold a couple of weeks before it popped from mid .80’s to the $1.20’s.
I was also surprised about those volumes in Roxg. I wondered why 8 million, average is 1-1,5 million a day.
Maybe insiders know something, looking forward into next week.
Wolfster and Blue I’m jazzed about Roxgold as well as Pure Gold that was also mentioned. I’m not sure what’s happening to the stocks and PM sector shorter term, but medium to longer term they are both solid companies.
I hear you, EX!
Roxgold 52week high and keep going, steady 2 steps up one down, stubborn and strong behavior. Im sensing something gooooood near term.
(ROXG) (ROGFF) Roxgold Inc – Corporate Presentation – May 2020
“West Africa’s Next Multi-Asset Gold Producer”
Speaking of surprise volume pick up on Friday …….I just started looking in to bluestone this week and had a bid in on them that never got filled as it traded over 3M and was up over 5%……timing is everything.😞
Yeah, I’ve been considering Bluestone as a solid gold developer but am overstocked on Gold developers at present and need some of them to make it to production or get bought out before reshuffling the deck. Good luck on the position though Wolfster, as I may join you at one point in it.
Bounceback Friday
Friday May 22, 2020 – Craig Hemke
“After the outrageous cap-and-smash of Tuesday through Thursday, it’s nice to see prices back in the green today. However, keep in mind that Monday is a U.S. market holiday and Tuesday will bring Jun20 gold option expiration.”
“So what I’m saying is…next week will bring its own set of challenges. We’ll have to navigate Comex option expiry, the Jun 20 gold going off the board and then month-end LBMA option expiry, too. Once that’s behind us, the stage will be set for a very interesting June.”
(SVM) Silvercorp tops full-year output guidance despite China suspension
May 22, 2020
Silvercorp says silver, lead and zinc production beat its guidance for the fiscal year ending March by 3%, 3% and 17%, respectively, even as operations in China were suspended for six weeks during the quarter, although the amount of ore mined overall fell 2% to 885.8K mt compared to the prior year.
All-in sustaining costs for silver for the full year, net of by-product credits, were $6.86/oz., compared to $3.52/oz. in the prior year.
Cash flow from operations for the year was $77.2M, up from $70.4M for the previous year, and cash holdings totaled $142.5M vs. $115.3M at the end of FY 2019.
Silver readies for biggest monthly gain in nearly 7 years
May 22, 2020 – Myra P. Saefong
Silver has far outperformed gold so far in May as improving demand has set the metal up for its biggest monthly percentage climb in close to seven years.
“Silver has a well-documented habit of coming late to gold’s party, only to then dramatically outperform the yellow metal,” said Brien Lundin, editor and publisher of Gold Newsletter.
“Once gold has somewhat run its course and starts to look expensive, a lot of people turn to the cheaper counterparty, namely silver, which has attracted fund and investor money,” said David Govett, head of precious metals at commodity brokerage Marex Spectron.
“Quarter to date, silver futures are up around 25%, while gold pales in comparison with its nearly 9% rise.”
Biggus – If you see this, I just now saw your response on the Thursday Chris Temple blog and figured I’d move my response forward here since that was 2 days ago.
You had asked about small microcap companies I liked under $20 million market cap. That was easier to answer back in March, but now that many stocks have moved there are are a few in the low $30 Million market cap I may toss on here as well.
__________________________________________________________________
To be clear, most of my stock positions and weightings are in the $30 Million – $300 Million market cap companies as I’m more heavily weighted in small to mid-tier producers and advanced developers that have already started growing in market cap.
Having said that, I’ll share some of the companies I own & track that have smaller “micro-cap” market caps.
> First I’ll list the one’s I own that have smaller market caps under $30+ Million (these are more speculative in nature of course than the more established mining companies):
* Micro Silver stocks*
– Santacruz Silver (SCZ) – M.C. $27M – Silver producer
– Orex Minerals (REX) – M.C. $11.6 M – Silver developer & explorer
– Bayhorse Silver (BHS) – M.C. $12.8 M – Silver developer
– Southern Silver (SSV) – M.C. $26 M – Silver developer
– Metallic Minerals (MMG) – M.C. $27.7 M – Silver explorer
– Brixton Metals (BBB) – M.C. $28 M – Silver & Gold explorer
– Vizsla Resources (VZLA) – M.C. $28.3 M – Silver explorer
– Abraplata Resource corp (ABRA) – M.C. $28.9 M – Silver & Copper & Gold developer
– Defiance Silver (DEF) – M.C. $31.4 M – Silver developer & explorer
– Dolly Varden Silver (DV) – M.C. $35 M – Silver developer & explorer
______________________
*micro Gold Stocks*
– Mexus Gold (MXSG) – M.C. $4.3 M – Gold producer
– Scorpio Gold (SGN) – M.C. $5.8 M – Gold toll milling producer & developer
– Inca One Gold (IO) – M.C. $11.8 M – Gold toll milling producer
– Anaconda Mining (ANX) – M.C. $36.6 M – Gold producer & developer
– Orefinders (ORX) – M.C. $24.3 M – Gold developer & explorer
– Osprey Gold (OS) – M.C. $3 M – Gold developer & explorer
– Precipitate Gold (PRG) – M.C $16.3 M – Gold explorer
– Sarama Resources (SWA) – M.C $17.5 M – Gold developer & explorer
– Northern Shield (NRN) – M.C. $20.3 M – Gold & base Metals explorer
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>> Here are some other Smaller micro cap Silver & Gold stocks that are on my radar:
(Again, these are not my top picks by any stretch, and I don’t currently own these, but they are speculative tiny market cap companies I may take a gamble on)
Aftermath Silver
GR Silver
Silver Bull
Starcore International
Orosur Mining
Glen Eagle Resources
Inception Mining
US Gold Corp
Maritime Resources
Triumph Gold Corp
New Carolin Gold
Spearmint Resources
Cabral Gold
West Red Lake Gold
Riverside Resources
Goldon Resources
Compass Gold
Contact Gold
NewRange Gold
Millrock Resources
1911 Gold
Scottie Resources
Eskay Mining
Columbus Gold
Pan Global Resources
Biggus – I’ll check into Southern Arc and appreciate the heads up on it.
Hat tip to Glenfidish on pointing out Compass Gold.
Compass was the other one I started to check out this week thanks to Glenfidish and this one I got filled on…..will keep accumulating more of it and Scorpio as I take profits in others
Wolf you won’t regret it on compass gold. I’m heavy in there since awhile back. Your in good hands with the team.
Funny enough my two larger small cap/micro holdings are compass and scorpio.
I have a bigggg feeling its going to pop big any day from that massive consolidation triangle.
Both obviously have potential to move if there is any news that gets attention and gets the volume to pick up. Compass has the advantage of its lower share count too. Hopefully the drill results keep being good. Still accumulating as I only really dipped the toes in so far
Speaking of profits……I will reiterate its time for the next phase of pot stocks and the strong players are turning the corner on profitability…..Green Thumb just had a great quarter and the other strong MSO’s revenues are growing……even Slang bottomed out at .12 and is now .25.
Even here in Canada things are looking up for pot companies
https://www.bnnbloomberg.ca/canadian-pot-sales-soar-19-in-march-amid-supply-concerns-1.1439943
What would you say are the most solid names in the space in the “mid-tier” category that have real business models that will result in real revenues, but aren’t the very biggest one like Canopy Growth or Aurora, etc…
I’ll look at Green Thumb & Slang that you mentioned.
Hey Ex…yes the green thumb is definitely one that looks good going forward. It’s had a nice run up from the march lows that hit alot of stocks.The slang would be a small tier spec play that could get back to $1 range. They are a player in the vape side too which has been hit by the bad press caused by the illegal vapes causing deaths. The other smaller player I like is IM Cannabis. See it getting to $1.50 range in next 6-12 months. As for another mid tier I like, Cresco Labs I’ve been starting to accumulate more of. Hopefully they report a good quarter on may 28.
Great info. I’ll check out Cresco Labs and IM Cannabis as well. Thanks Wolfster
No idea how I ended up on this tangent looking into publicly trading shroom stocks but I did and the question is did I miss the boat already or this pot2.0 ???….anyone else looked at this industry at all??? Just around February is when the first 2 went public..
Yeah, I’ve been watching folks over at ceo.ca get in discussions about the shroom stocks.
They have been trending lately, but I’m not sure the public will understand their value, nor will they so easily accept them, which is a shame because they are true plant medicine and part of many wisdom traditions when used with respect and reverence. We’ll see how their business model goes though.
Ex, I followed the Scorpio story, but never invested because of the Waterton loan. It seems that they still have to pay a lot, 6 million shares just for the interest payment in April?
https://ceo.ca/@accesswire/scorpio-gold-cash-conservation-shares-issued-to-debenture
Ex, what is the role of BIM as loan holder? It seems they act like Waterton in getting million of shares every year as interest compensation? Even publish this behavior on their web site?
„Waterton, which had obtained its investment by an alleged fraudulent scheme, retained its investment free and clear of deb“
Hi Thomas yeah I saw that when Scorpio Gold issued more shares to cover the interest on the $7M debenture, and agreed that is a risk factor for sure to SGN, but at times debt is necessary to grow the business. They had to find a way to do a capital raise to get 100% ownership of their assets, to pay for their exploration to expand resources in the smaller potential pits and source material for Goldwedge (currently be used to generate revenues via toll milling), and then did some mill upgrades at Mineral Ridge, where they got their permits extended to explore and operate there once again.
In April 2019 when they did the capital raise here was the rationale:
Brian Lock, the interim CEO and a director of the Company, states “The Company is extremely pleased that the investors participating in the Private Placement are supporting Scorpio Gold with a view on future developments and operations at our two gold mines in Nevada. Scorpio Gold is now debt free, owns 100% of all its assets, has over C$6 million in working capital and has definitive plans to return to full precious metal production once project financing for the new process plant at its Mineral Ridge Mine is obtained.”
https://ceo.ca/@nasdaq/scorpio-gold-completes-us7-million-convertible-debenture
As for BIM as loan holder, they get paid shares to handle the interest on it, but that was their incentive to pony up a great deal of the money in the PP. Here were the deal terms as outlined in the release above:
“Each Debenture is convertible into Shares at the option of the holder at any time prior to maturity at a conversion price of US$0.08 per Share, which is equivalent to 12,500 Shares for each US$1,000 principal amount of Debentures, subject to adjustment in certain circumstances. Debentures must be converted in minimum amounts of US$1,000. The Company will have the option on maturity, subject to regulatory approval, to repay any portion of the principal amount of the Debentures in cash, if there is no default under the terms of the Debentures, or by issuing and delivering to the holders of the Debentures such number of Shares equal to the principal amount of the Debenture divided by the Conversion Price.”
Do you have an idea how they plan to do the financing?
In Canadian dollar they need around CAD 50 million and have a CAD 5 million market cap
Any equity financing would mean a massive diluted share count
With some financing in place Scorpio would look interesting
Will wait for it, before I buy some shares
The 90 million convertibles for $0,08 will keep the share price low for the moment
Yes agreed that the $.08 covertibles will be a resistance zone as those 90 million work their way through, and that a future raise will have inevitable dilution, but it will also be for expanding their mill and for getting their production ramped back up, so that is a MUCH better use of money, than most of the exploration garbage stocks in the Gold sector that will burn through that much money in a few years only to poke holes in the ground (with a high percentage that most mines will never go into production).
With Scorpio Gold’s they’ve been a nice little producer in previous metals cycles and have the experience producing at both Mineral Ridge and Goldwedge and they are able to start increasing their revenues. Once they invest some capital into their Mineral Ridge mill and define a few of the small open pit targets they already have from previous exploration work in years past, they’ll be able to radically move up their production throughput, recovery rates, and gold ounces produced. I’m a fan of investing in that strategy and getting gold production ramped back up at Mineral Ridge. Currently Goldwedge is doing some toll milling to generate revenues, but ultimately they’ll be able to process their own ore there as well, and why they are going back to exploration around their 2nd mill.
________________________________________________________________
These 2 passages from the (SGN) April 22nd presser get into their operations and their desire to do the $35 Million capital raise (and most importantly the WHY? behind this capital raise)
> Cash Flow
“The Mineral Ridge operation continues to generate cash flow from residual gold production from the existing heap leach pads with a forecasted revenue for 2020 estimated at US$4.5-$5.0M.”
“Scorpio Gold initiated cash conservation measures in response to COVID-19 on April 1, 2020, including voluntary wage reductions for US employees, corporate executives and board members. The total annual reduction in costs will be approximately C$1.6M and will remain in place until the Company is financed. Further cash conservation measures will be employed wherever discretionary funding can be eliminated or postponed.”
>> Financing & 2018 Updated Feasibility Study
“Scorpio Gold is pursuing US$35M financing for the construction of a new carbon-in-leach (CIL) processing facility at Mineral Ridge to capture the value in the gold reserves contained in the heap leach pad and unmined portions of the property. Based on the 2018 updated feasibility study, the 4,000 tons/day facility will provide Scorpio Gold the ability to recover ~250,000 oz of gold over an expected mine life of 7.5 years.”
https://ceo.ca/@accesswire/scorpio-gold-provides-outlook-at-its-mineral-ridge
Just on that 2018 Feasibility study at Mineral Ridge, using the updated $1500 Gold 2019 figures, that project alone has an NPV of $77.4 Million, with an IRR of 45.5%, and a payback period of 2.3 years.
Now imagine how much better that will be at $1700+ Gold like what we actually have?
I believe just processing those old tailings could be $100 Million, and that doesn’t include future exploration success at the other open pits around Mineral Ridge or getting Goldwedge back up to higher levels.
The fact that the stock is only trading at $5 Million now will be laughable in 2-3 years, and so that is why I’m happy with the position in place currently, and still see them as undervalued at present based on all they have going on with development in the excellent jurisdiction on the Walker Trend in Nevada.
Yes, like you mentioned, I am waiting for their capital raise to be completed, so that that I can gauge the dilution and add more shares accordingly at that time.
You shouldn‘t take the current $5 million as valuation. If they do a full equity financing and convertibles are exercised at 10 cents, we have $64 million
Understood, I just meant that their current market cap is $5.3 Million, so that is the valuation Mr Market has given them as of Friday’s close. There is a lot of room to the upside on SGN.
I like that Walker Trend in Nevada quite a bit, and there are a half dozen companies strung along the walker trend like a string of pearls.
My interest has been in Scorpio Gold, as well as their neighbors West Kirkland Mining (which I have a much larger position in than Scorpio), then on WKM’s other side is Corvus Gold (another nice development stage company and prior KER sponsor), and then on the other side of Corvus I did well Northern Empire when they took over Imperial Metals “Sterling” project, and then were acquired by Coeur Mining.
I have had a nice position in Scorpio’s neighbors, West Kirkland Mining for a while now that has moved into quite profitable pricing for me now in my portfolio, as they move their Hasbrouck development project quickly towards production.
The management of West Kirkland (Michael Jones & Frank Hallam) are the same guys behind MAG Silver and Platinum Group Metals.
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(WKM) (WKLDF) West Kirkland Mining – Corporate Presentation May 2020:
http://wkmining.com/_resources/presentations/WKM-Corporate-Presentation.pdf
Nice! The Walker Trend….
Seems that you are not the only one
Thanks. I’d not heard of Teritary Minerals yet on the Walker trend. Much appreciated.
What is your opinion to Gold Resource. They have four properties and one producing asset in the Walker Lane
Yeah I like ole’ GORO and they’ve been at it for a while, and are a solid smaller Gold producer & developer. I forgot they had a producing mine in the Walker Lane, but knew they were in Mexico, and haven’t thought about them in a while.
(GORO) Gold Resource Corporatin Reports First Quarter Results
May 5, 2020 (not too shabby)
Strong balance sheet with $18.4 million cash and cash equivalents;
• $28.0 million net sales;
• Operating cash flow of $5 million;
• Precious metal quarterly production on target with 10,142 gold ounces and 407,625 silver
ounces produced;
• $4.1 million gold and silver bullion inventory; and
• $0.01 per share dividend distribution for quarter.
Yeah, thanks for bringing up Gold Resource Corp Thomas.
I sold McEwen Mining and K92 Mining recently, and have been looking for a few gold producers to backfill their positions with. I started a small position in Superior Gold (SGI) last week, and have been looking for another, and GORO fits the bill nicely. I’ll likely start a position in it later this week or next.
Much appreciated!
GORO was a huge winner for me but I haven’t owned it in years. It’s 2006 IPO was done at 1.00 and I started buying at 1.10 (after it dipped to .90). It went to about 6 before it crashed to 2 in 2008. I bought more and then ultimately went to well over 30 (I can’t figure out why stockcharts shows an all-time high of 25.90 since I sold most of my shares above that!). I sold the last of my shares in the low 20s after it had dipped into the low teens.
It was nice to collect the 6 cents per month dividend with my average price per share at well under 2.50!
Found another Walker Lane producer, Northern Vertex (NÉE)
I have seen that you are already invested. How you would compare NEE to GORO?
Both seem to producer around 50k and NEE has only 1/4 the market cap
Yes, I’m a shareholder of NEE Northern Vertex and like it a lot. They are still ramping up production, lowering costs, and expanding their resource at their Moss Mine in Arizona. I could see them being a great takeover target for a larger producer wanting to bolt on another quality producing asset.
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(NEE) (NHVCF) Northern Vertex – Corporate Presentation
https://www.northernvertex.com/site/assets/files/2159/2020-03-17-cp-nee.pdf
I don’t believe Northern Vertex has as many properties as Gold Resource Corp, and GORO has 2 producing mines where NEE only has 1, but yes, NEE’s market cap is much smaller, considering the similar ounces produced by both companies, and NEE doesn’t have the Mexican jurisdiction risk.
I like Riverside resource RRI as you know, Ex.
Prospect Generator a la Rick Rule favorite
and also good management
Thanks Blue. Yes, I enjoyed our discussion on it last time and did go check out the links you posted, and why I added it to the closer watch list. Much appreciated.
I value your stock picking prowess Blue, and if you have any other ideas please share them for the KER crew.
thanks Ex, happy to contribute when opportunity knocks
Sprott Money Weekly Show, May 22, 2020. He talks about Freegold Ventures at the ten minute mark and Pure Gold Mining at the 14 minute mark. Interesting! DT
https://www.sprottmoney.com/Blog/all-hell-could-break-loose-the-current-precious-metals-shortage-weekly-wrap-up-may-22-2020.html
Listen to the whole video, the silver dealers are phoning him to ask for phyzz, OH, OH! DT
Good tape……..thanks……..confirmation, same thing we have been talking about for several months….
Silver hasn’t looked this good since at least 2003:
https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=3&mn=0&dy=0&id=p69576553995&a=759267131
It is probably noteworthy that gold rose less than one-fourth as much as silver during that 65% silver run in 2003…
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&st=2002-01-06&en=2005-01-24&id=p74854238651&a=759289888
Silver – The Trading Sardine
May 23, 2020 – Andrew Hecht
– Silver has made strides on the upside.
– The correction made silver stronger- A cleansing.
– Silver mining stocks can provide leveraged returns on the upside.
– SIL and SILJ to turbocharge a long position in the volatile metal.
https://seekingalpha.com/article/4349663-silver-trading-sardine
If the metals now follow the 2003 path (since that was the last time silver’s 50 week MA crossed above its 200 and 233 week MAs), we could see silver around 30 and gold around 2,000 sometime in October. The gold-silver ratio would be at or below 70. That’s not a prediction but is also not at all far-fetched under the circumstances. (Maybe someone can explain those circumstances to Chartster but I doubt it!)
$30 Silver and $2000 Gold seems quite reasonable to me. Thanks Matthew!
Very reasonable……….IMO……….
Seems reasonable to me as well! I like gold late fourth quarter/first quarter of 2021 in that sweet spot between 2110-2116 late first quarter.
mADE NICE MONEY ON EVOLUTION MINE STOCK. now in PARAMOUNT . Wow FOX radio talkers putting out wild conspiracy thereys about OBAMA, BIDENAND HILLARY. WILL THEYREVIVE the story about hillary and bill drinking blood of babyies as they worship the devil ?? Thats the kind of thing that FOX radio allows on its late night talk shows. Frinds with Trump .pray for Sanity rsh
https://www.zerohedge.com/technology/did-jack-dorsey-just-issue-mea-culpa-all-twitter-banned-conspiracy-peddlers
What is a conspiracy theory anyway? Sometimes the term is deployed against anyone who questions authority, dissents from dominant paradigms, or thinks that hidden interests influence our leading institutions. As such, it is a way to quash dissent and bully those trying to stand up to abuses of power. One needn’t abandon critical thinking to believe that powerful institutions sometimes collude, conspire, cover up, and are corrupt. If that is what is meant by a conspiracy theory, obviously some of those theories are true. Does anyone remember Enron? Iran-Contra? COINTELPRO? Vioxx? Iraqi weapons of mass destruction?
Here is a conspiracy for you ………….Little Biden action……hummmm
https://www.zerohedge.com/political/ukrainian-mp-found-dead-gunshot-wound-head
Ukrainian MP Valery Davydenko of the Dovira faction was found dead in his office bathroom with a gunshot wound to the head,
Go back to sleep……..nothing here………..sheeple at rest…..lol
The HUI now has three weekly closes above the high close of 2016:
https://stockcharts.com/h-sc/ui?s=%24HUI&p=W&yr=5&mn=2&dy=0&id=p71661101595&a=612640758
Geez matt how could i have missed the retest of the breakout on hui. This gives a high probability we are going higher next week and closing may with a strong monthly candle in gold.
The XAU looks even better:
https://stockcharts.com/h-sc/ui?s=%24XAU&p=W&yr=7&mn=7&dy=0&id=p01531209238&a=699164164
However, the daily chart says caution (short term):
https://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=1&mn=5&dy=0&id=p23789818290&a=715542975
Here’s a GLD backtest:
https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=0&id=p18469854800&a=753284548
Wall St., Main St. look for Gold to Regain Its Luster
Allen Sykora – Kitco News – Friday May 22, 2020
“Not only do you have low interest rates and economic stimulus supporting gold, you also have increasing tensions between the U.S. and China that will keep [gold] on its quest for all-time high prices,” said Phil Flynn, senior market analyst with at Price Futures Group.”
“Ten out of 17 Wall Street voters, or 59%, said they are bullish for the week ahead. There were five voters, or 29%, calling for lower prices. Two respondents, or 12%, were neutral.”
“Meanwhile, 1,809 votes were cast in an online Main Street poll. A total of 1,038 voters, or 57%, looked for gold to rise in the next week. Another 467, or 26%, said lower, while 304, or 17%, were neutral.”
https://www.kitco.com/news/2020-05-22/Wall-St-Main-St-look-for-gold-to-regain-its-luster.html
The silver-gold ratio hit important resistance last week but the indicators look great:
https://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24GOLD&p=W&yr=10&mn=9&dy=0&id=p22389907479&a=759521158
A tale of two important EMAs
Tale a look at the XAU’s price action at the 377 and 600 week EMAs and their relevance will be clear:
https://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24GOLD&p=W&yr=10&mn=9&dy=0&id=p22389907479&a=759521158
The gold miner-focused GDM shows similar interaction:
https://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=10&mn=9&dy=0&id=p67220679269
Now take a look at silver. It has now “confirmed” the miners with its first weekly close above those EMAs since the crash.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=10&mn=9&dy=0&id=p35836549247
Nice to see it pop above the 377 and 600 week EMA. Encouraging!
As always………..thanks for the chart and charts……
You’re always welcome Jerry. Thanks for the thanks!
Silver is up 37% versus gold since the silver-gold ratio bottomed in March and is getting ready to dramatically add to that outperformance…
https://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24GOLD&p=W&yr=5&mn=0&dy=0&id=p66610524336&a=725883771
SILJ looks better versus GDX than it did last summer and quite possibly even better than in early 2016:
https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=W&yr=4&mn=11&dy=0&id=p12084433316
Precious Metals Hit Resistance
May 21, 2020 Jordan Roy-Byrne CMT, MFTA
“GDXJ has pulled back a bit after testing 7-year resistance while GDX has pulled back after hitting a key pivot point and 50% retracement of the bear market.”
Nations globally begin to re-open businesses and return to the new normal
May 22, 2020 – Gary Wagner #TechnicalAnalysis #Chart #VIDEO
https://thegoldforecast.com/video/nations-globally-begin-re-open-businesses-and-return-new-normal
Ira Epstein’s Metals #Video (5/22/2020)
Technical Analysis, Gold, Silver, Copper, Platinum
Ex, Thanks, much appreciated. Good list of Micro cap Juniors to research. Southern Arc has a stake in Japan Gold and not that much else…..
Happy Memorial Day to all!