I thought you are already looking for a new house?
My mix at the moment is more 40% battery metals, 40% real estate, 20% PM miners

No, I sold my house 2 months back, but am not looking to buy again for 1-2 years, because I feel the housing market may get a kick in the pants when the fallout from a year of lockdowns plays through. There are many that are in deep financial issues, many that have lost their jobs or businesses, so there may be a wave of selling and I’ll be looking to buy a short-sale or rescue a pre-bankruptcy situation to get a better value. I may throw some money into a handful of tax-liens though just to see if 1 may pan out to take over the land or a home if the current holders default. I also would consider flipping homes or picking one off to make it a lease option.

I’m much more in cash at present, as mentioned in our previous conversations from the home sale, from saving for 2 years to leave my prior career (only to have it leave me as a Covid-19 national reduction in force), and I used the Cares Act to pull money from part of my retirement fund without the tax penalty.

I’m more like 60% cash, 15% retirement in general US markets/emerging markets/bonds, and 25% in my trading account focused on small cap investing.

Inside of the trading account, I’m 60% Gold & Silver, 10% base metals (PGMs, Copper, Nickel, Zinc), 10% Uranium, 6% Lithium, and 14% dry powder. [I was 10% Lithium until last week, but I scaled back a number of lithium stocks to raise more rainy day funds.]

From August – October I did take 2% of my cash and put it in GBTC Grayscale Bitcoin Trust, and it about tripled to 6% of my cash, so just a speculative position, but I liquidated it a few weeks back into the surge of Bitcoin up into the high $30’s.

I’ve considered going in stronger after the corrective move plays through to a 10% overall position in Bitcoin, but that would be substantially more than I risked last time, but I don’t like sitting on too much cash and want to diversify it some. It just that the cryptos are so insanely volatile, that it really is more speculating than a store of “value” at this point in its trajectory. I do believe that as more adoption and Metcalf’s law continues, that the volatility in Bitcoin and some of the other cryptos will reduce over time, and I’d feel more comfortable placing more capital in that bucket if that is what develops. Overall I’m far more conservative, than how it may appear from my comments with regards to my trading account. I figure my foundation is solid overall, and the retirement fund is diversified and will do what it will do, so inside the trading account, I like to take on far more risk and speculative bets — hence resource stocks, and a few blockchain, Defi, and cannabis stocks in recent years.

I’ve also quipped recently that a piece of me wants to take 80% of my cash and move that over to the trading account, which would leave me 10% cash, 15% retirement, and 75% speculative trading, to just be a full time investor, but my lady would strangle me. However, that is how both David Erfle and Brian Leni came out as full time investors (using seed capital from the sale of their home), so it has crossed my mind.

I think my ideal allocation in 2 years may be:

50% real estate, 20% retirement, 20% Trading Account in small caps, 5% Bitcoin, and 5% cash.

Ex,Bob Moriarty has said here on more than one occasion that you are better than 99% of the resource newsletters.

I’d be your first subscriber. And your fine lady would just have to find other reasons to strangle you.

Cheers.

Well thanks for those kind words blazes.

Always glad to toss around some investing ideas with the good folks at the KE Report. 🙂

Sorry that should have said blazesb, not blazes, but my “smart” phone kept changing it. 🤦‍♂️

+3 Agreed.

Like his comment on royalties: „Royalty companies are probably a more intelligent way to play the precious metals market, compared to miners, but with less fun“

Rick on lithium: „I really really really like lithium in the 5 year time frame – but only the SQM‘s, the Albermale‘s of the world are the places where the game is played“

Yes, I like really like Rick Rule a great deal, but he missed the boat on the quality Jr Lithium companies as they were emerging in the 2015-2017 time frame, and has missed the boat on the Lithium Jrs again in this recent run up that last year or so, so the bigger companies like Albamarle and SQM were not the best way to play it for investors.

Here are 2 charts I posted earlier in the week on the runs the Lithium Jrs have had, so those that avoided them did so at their own peril.

_________________________________

Lithium Juniors Performance Chart since Mid-March 2020 sector lows through present:

LAC – Lithium Amercias
CYP.V Cypress Development
GALXF Galaxy Resources
ORL.TO Orocobre
PILBF Pilbara Minerals
NLC.V Neo Lithium
BCN.L Bacanora
CRE.V Critical Elements
POR.V Portofino Resources
DJI.V Dajin Resources

https://cdn-ceo-ca.s3.amazonaws.com/1g0js1v-Junior%20Lithium%20Companies%20Off%20March%20Sector%20Low.JPG

Lithium Juniors Performance Bar Chart since March 18, 2020 sector lows through present:

LAC – Lithium Amercias – up 871%
CYP.V Cypress Development – up 1261%
GALXF Galaxy Resources – up 435%
ORL.TO Orocobre – up 231%
PILBF Pilbara Minerals – up 879%
NLC.V Neo Lithium – up 684%
BCN.L Bacanora – up 278%
CRE.V Critical Elements – up 446%
POR.V Portofino Resources – up 283%
DJI.V Dajin Resources – up 360%

https://cdn-ceo-ca.s3.amazonaws.com/1g0jsc9-Junior%20Lithium%20Companies%20Bar%20Chart%20Since%20March%20Sector%20Low.JPG

I also think that Rick Rule is wrong when ihr thinks that only SQM and Albemarle will work

Their brines in the Atacama desert have some limit as they need a lot of water

Back in 2015 & 2016 Rick Rule said the world was awash with Lithium, and wouldn’t need any more Li producers, and said only 3 companies (SQM, Albamarle, and FMC/now Livent) would be all that was needed. Since then there have been over a half dozen new Junior producers that came onto the scene, several Jrs that were taken over by larger players (making them great opportunities), new 3 new Lithium larger producers (Ganfeng, Tianqui, Posco), and another 6-10 Lithium development projects that look like they are also moving forward.

Look again at the returns those Lithium Jrs provided in the charts up above (gains that spanned 238% – 897% just since last March) They far outperformed the larger chemical conglomerates like SQM and Albamarle, and prove definitively that there were much better choices in the lithium Jr space in 2016 & 2017, in the year we just had 2020 moving into this year. That trend will likely continue, although, the whole space does look overbought at present, so I trimmed back my Lithium Americas, Orocobre, Galaxy Resources, and Pilbara Minerals positions.

Thomas, yes, also agreed to your point about the water needs of SQM and Albarle, and the limits they can currently produce or ramp up to in a timely fashion. I had put out many thoughts on this topic here at the KER since late 2015 with next Lithium wave was kicking off, on Ceo.ca back from 2016-present, and a few comments over on Seeking Alpha pieces that bought into the premise that just 2 or 3 companies could supply the world with everything needed in the coming Battery Metals surge.

It was brought up repeatedly that these 2 (really 3 with FMC now Livent) chemical conglomerates would not be able to ramp up things nearly as fast as some market pundits thought, and it was a silly notion anyway (like saying the world is awash with Gold, and Silver and Uranium and Copper, so only 2-3 companies can supply the global demand – that’s ridiculous).

Things played out exactly as expected, where the larger companies had challenges ramping up at a number of points the last few years, and while they have expanded production, it became obvious there was a need for more projects and more producers. Since 2016, 3 larger companies have come in to take market share and offer alternatives from the initial “Big 3. 6 dozen new Jr Lithium producers blazed onto the scene with far better upside leverage for investors, and we discussed each one before it happened here on the KER and over at ceo.ca. (what happened to those that stated a few years back that we didn’t ever need them and they were all “scamium”?). Again, a dozen legitimate Li development projects have moved forward, that even those larger companies originally the only ones needed, have actually taken strategic positions in or JV’d with, showing the value in speculating in quality development projects. Several of the smaller Lithum Jrs have already been taken out for nice premiums or their assets were purchased directly for a great return on capital.

(LAC) Lithium Americas: Terminus

Jan. 25, 2021

– The government has approved LAC’s Nevada mine named Thacker Pass.

– The next catalyst is funding via a partner. This will push the stock higher.

– With a tincture of time, the company is set to become a major lithium producer.

– Long-term lithium demand will outstrip supply – with that, lithium stocks could be very profitable.

https://seekingalpha.com/article/4400712-lithium-americas-terminus?mail_subject=lac-lithium-americas-terminus&utm_campaign=rta-stock-article&utm_content=link-0&utm_medium=email&utm_source=seeking_alpha

Yes, I’m looking forward to the royalty segments as well, but I own 7 royalty companies at present, and 9 of them just a few weeks back (I sold Metalla after it having an epic run, but seeming short term less opportunistic than when I first positioned back last March & April, and sold Vox Royalty on the recent pop to redeploy in individual miners. I may buy both of those back at one point).

I’ve still got royalty positions in Sandstorm, Maverix, Nomad, Elemental, Ely Gold, Sailfish, and Golden Valley. I’ve owned EMX in the past and was going to get back in it but it ran higher in valuation. Nova looks interesting as Copper/Nickel royalty company, run by the same guys at Metalla, but it has taken off like a scalded cat and I’m not chasing it at those higher levels I still want to get positioned in Altius at one point, and possibly Anglo Pacific.

Thomas, since you like the larger projects with better economics today, you’d probably like to check out the opportunities in Wheaton Precious Metals or Osisko Gold Royalties. Franco-Nevada and Royal Gold are the 2 largest, but they have also been laggards compared to owning the mid-size to smaller royalty companies, and also when compared to individual miners, but they do pay nice dividends.

Ex, I think the mid size royalties are interesting too
They also have stakes in large mining project

The highest dividend at the moment is actually payed by Nomad with 1.8%

Agreed. I was just adding to my Nomad position yesterday, mostly due to the strength of their royalty holdings and partners, and the recent pullback in pricing offering a more attractive valuation than when I first positioned. Having a higher dividend is just icing on the cake, but delicious icing. 🙂

Nomad is the first that passed my strong selection criteria 😊
Have a position and got my first dividend last week
They made really good deals last year

Ah – Well, congratulations Thomas and welcome to the Nomad caravan… Cheers!

Thanks Thomas. Yes, once again, you have a good eye for the more stable quality opportunities (like your interest in Equinox and Endeavour Mining). Victoria Gold is a fantastic Gold developer ramping up into a new gold producer, and I like that story a lot but never positioned in it before it went on it’s big move in the “Golden Runway” phase. I’d like to see them crank out a few quarters of commercial production (where there are often initial challenges and setback to overcome at any new producer) and look for an entry at a better price levels, but even at their current $770 million valuation, they still have nice room to run higher with the elevated Gold price environment.

Yep, I’m familiar with it as @Goldfinger covers them regularly and does interviews with Tara, and some of the folks over at the Metals Investor Forum (Eric Coffin/Gwen Preston/Greg McCoach etc…) have had Banyan at their conference before.

It looks like a very interesting story near Alexco (and I believe Alexco has a strategic stake in them if I remember correctly). In that area my main plays are the Silver ones like Alexco and Metallic Minerals. Yes, I need to take another look at Banyan though as many smart investors seem to be very animated by their story.

Banyan is an easy takeover play with two producers just beside them
They only need to find a sizable deposit now

Do you think Victoria Gold may make a move on Banyan at one point?

The CEO gave an answer to the M&A question
„Currently there is no other Yukon project that would be comparable to Eagle in respect of size and accessibility“

Eagle was 2.6 million oz resource. Banyan currently has 900.000 oz inferred on the road to Eagle. With another Eagle VIctoria could double production or mine life.

Eagle today is 3.3 million oz reserve (including a small satellite deposit)

I’m not sure how Victoria Gold’s resource size answers the question of if they may make a move to acquire Banyan in the future, as most acquisitions are a larger company with bigger resources acquiring a smaller company with smaller resources, to augment their asset base and that still may have plenty of upside for expansion (like a Banyan would for Victoria) I’m sure the husband at Victoria has at least discussed the idea with the wife at Banyan. : )

Alexco may benefit from acquiring Banyan as well, as a bolt on operation, and they have about a 10% stake in them, but that would be a ways down the road as they are busy ramping up into Canada’s only Silver producer at present. For now I’d much rather see Alexco stay focused on high grade silver at Keno Hill and would rather see them takeover their other neighbors Metallic Minerals than go after Banyan.

(MMG) (MMNGF) Metallic Minerals – Corporate Presentation:

[Alexco’s neighbors at Keno Hill also pursing high grade silver – the perfect compliment to their operations?]

https://www.metallic-minerals.com/site/assets/files/2291/2021-01-11_mmg_presentation_live.pdf

This is a great map from that presentation linked above, that shows how the land packages from Alexco, Metallic Minerals, Banyan, and ATAC Resources are all clustered there together. MMG has a second project over adjacent to ATC, that looks prospective in addition to the Silver project next to AXU. This whole area on that map is an exciting emerging area play, and will be interesting to see if other new discoveries are made nearby, and how it all gets consolidated over time.

https://cdn-ceo-ca.s3.amazonaws.com/1g0plu5-Keno%20Area%20Regional%20Map.JPG

Oops, I left out Victoria Gold’s land is also clear on that map right above Alexco’s land package. This is a geologically well-endowed area for sure.

I am hoping that Victoria will develop into a mid tier over time. Eagle has the potential to become a 300-400k operation, if they find a second Eagle. Eagle itself is much larger at a Gold price over $2000. They made a few deep drill holes down to 600m that all ended in gold mineralization. They also considered year around staking that would bring them close to 300k.

I probably stay away of exploration plays. You should watch the interview with Nolan Watson. I think he makes good recommendations with where he has puts his own money 💰

Thomas – I’ve been a big Nolan Watson fan for many years, and am invested with SAND, and responded up above regarding how I’ll allocate my funds at the end of the metals cycle. However, during the bull market in PMs, to ignore exploration stories, is to ignore many of the companies that will go up 5-10 times or more, so I take basket approach realizing not all of them will do well, some will do about the same as the producers, but some will run so hard & so fast, that they can be traded for incredible gains and then redeployed into more conservative capital for deep storage. It depends on someone’s appetite for risk though, as exploration plays are the highest risk/reward scenarios in the PM or BM sectors.

I think that is fine, if you are good in selecting explorers (I found this to tough)
For me the lithium developers are easier than the PM explorers

Yes, agreed Thomas. The universe of Lithium companies with deposits that may be large enough and economic enough, to actually make if from development to production is much smaller than the bloated universe of 800-1000 gold explorers/developers that require much more vetting, and have more unknowns.

Most of the companies that have spent 5-10 years hunting down the good Li brine salars, or the hardrock pegmatite deposits have validated or invalidated most of them at this point. It was easy to see 4-5 years back who the new players were going to be, (Orocobre, Galaxy, Pilbara Minerals, Ganfeng/Neometals/Mineral Resources, Bacanora, Posco, Tianqui, Lithium Americas, Dajin, and more recently Neo Lithium, Critical Elements Corp, and Cypress Development).

With the Gold explorers, it really comes down to if they green fields explorers trying to unearth a new deposit, or brownfields explorers reinterpreting an older known deposit, often around prior producing mines. The green fields explorers are wrought with much more hype, marketing, and lifestyle companies (just mining investors so that they have a job sitting on top of moose pasture), but there are good teams out there. It really comes down to having great geologists with a track record of making discoveries, that also have experience in the kinds of deposits they are looking for, and in in the jurisdictions they are exploring in. There are problematic brown fields explorers as well, just perpetually reworking an old failed deposit, but I find that there are more legitimate projects, where the nearby mine may have simply closed in past cycles due to crashing metals prices, or previous geological interpretations that were off, where a new geological team comes in and reviews historical data, and comes away with a completely different understanding which unlocks the value. Again, it comes down to competent teams, with a track record of success in a specific type of deposit, and with a good knowledge of a jurisdiction and surrounding properties.

Exploration is a tough tough business though, and only 1 in 3000 targets actually turns into an economic mine, so they are a bit of a lottery ticket on discovery. I’m always willing to give a company a shot if they have a good team/good target/good capital/and will do meaningful work in a given year to “drill it or kill it.” However, most of exploration stocks are advanced explorers moving towards development, where they have already demonstrated there is gold, silver, copper, uranium, etc… in the ground, and now their focus is on seeing the limits of the deposit (depth, width), looking for higher grade sections as initial starting points for a pit or underground mining, and that actually are growing a deposit that would be attractive to a larger company as an acquisition.

Hi Canuckski,

I used to have a position Constantine for exposure to their Zinc/Copper/Silver/Gold polymetallic Palmer deposit in Alaska, back when Darwin Green was VP of Exploration, but sold out of it a few years back, when they ran into all the local pushback to the project due to the potential impact on salmon spawning populations. This kind of local pushback and environmental group pushback was also happening at the time to communities very opposed to Northern Dynasty’s Pebble project in Alaska. I figured there were plenty of miners to get involved with that didn’t have salmon spawning as the impediment. I have not kept up with the story though, and they may have resolved all of that. The share price has suffered, so there may be a good opportunity to position now at lower prices, but then again, they may be low on this one if that is an ongoing concern.

I decided to get into different Zinc development plays that had more of likelihood of moving forward in this coming base metals cycle like Tinka & ZincX, and for the Copper development exposure I moved over to Filo Mining, Regulus, and Sun Metals. Regulus ran into local pushback to their base metals project, and Sun Metals was recently acquired by Serengeti Resources, so I sold both those and put the money into Kodiak Copper (with Chris Taylor of Great Bear fame). {Hat tip to Wolfster on the heads up on Kodiak Copper}.

l also got far more interested 2-3 years back in companies producing Zinc/Silver/Lead/Copper like Sierra Metals and Trevali Mining, as well as Silver producers with not Zinc/Lead credits like Silvercorp and Americas Gold & Silver.

I did follow Darwin Green into his newer gold company HIghGold in Alaksa & Timmins Ontario. Darwin is tenacious, disciplined, and hard working, and he was a big part of the reason I held onto Constantine as long as I did, but I much prefer the projects he is working on with HighGold at present.

https://www.highgoldmining.com/site/assets/files/6073/high_investor_presentation_23dec2020.pdf

Brixton is another polymetallic play with Copper & Gold at their Thorn project they’ve been recently drilling, and Silver/Cobalt at their Langis/Hudson Bay projects, and Silver/Gold at their Hog Heaven project. I know it is well-liked here by a number of posters, and I just got my Brixton position going again yesterday (Friday), as their stock has also lagged man peers the last 6 months, but now looks poised for a nice re-rating to play catchup in valuation.

Canuckski, I’ve also recently started building a position in (WRN) Western Copper & Gold, as a producer of both metals up in the Yukon. I believe Doc is a shareholder as well.

http://westerncopperandgold.com/wp-content/uploads/2020/11/WRN_ConferencePresentation_Dec_2020_FINAL.pdf

That’s exactly it Ex… I didn’t know if you had any further insight about the trip up that Constantine was facing. I gather not, so that works. I was thinking that if all was good, then we might be looking at a 5-10 bagger in the next move up. Thank you as always for your time and your thoughtful responses.

I am well loaded on BBB, but thanks for noting that one. I will check into Western. I recall you noting that one in a past post, but I hadn’t looked into it.

Thanks Canuckski. Yeah, I just didn’t know if you were aware of the community pushback on Palmer with Constantine, but no, I haven’t stayed up to date to see if that has been resolved. I wasn’t sure if you knew that Darwin had decided to go and pursue Highwood now, and so far they are off to a great start from last year with their exploration campaign.

There are a number of interesting Copper and Zinc exploration and development projects out there with potential, but few Jr producers, as most are much larger companies. I like companies like Western Copper & Gold or Trevali because of their ability to surprise the markets to the upside, as increasing metals prices and improvements in their production throughput can really move the needle for companies of their size.

May you have prosperous trading!

Highwood = HighGold.

(Not sure why my phone changed that word.)

Brixton is like many explorers in that it outperforms on the upswing AND the downswing. I don’t expect that to change this year or next but it will eventually.
A capitulation (or “blow-off bottom”) began on January 8th and I will buy more if it manages to go lower. Friday’s action was great considering the rest of the sector.
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=3&dy=0&id=p16618406067&a=879056747

SILJ has been in blow-off mode versus Brixton for the last 5 weeks. Inverted, that looks like this:
https://stockcharts.com/h-sc/ui?s=BBB.V%3ASILJ&p=D&yr=1&mn=3&dy=0&id=p88952034268&a=879062776

The first table in Brixton’s latest press release says it all: copper, silver, moly and gold grades in the new porphyry discovery get richer at greater depth. Notice the jump in CuEq% in the final 6 meters…
http://brixtonmetals.com/brixton-metals-taps-porphyry-at-camp-creek-drilling-439m-0-34-cueq-including-278m-of-0-43-cueq-including-105m-of-0-60-cueq-with-the-bottom-of-the-hole-at-6-2m-of-2-27-cueq-at-its-thorn-project/

The next round of drilling will be interesting.

Hey Matthew, thanks for the BBB charting. You are a top shelf chartist as always! Your analysis gives me confidence in where this is heading.

I was working on some of my own analysis on this one in light of you mentioning: ‘if it manages to go lower’. I don’t believe we’ll be going lower on Brixton at this time. In fact, I’m hoping we’ll be seeing the start of something interesting.

I tend to build an additional buffer into my own estimates to maintain some semblance of appearing aware of downside risk in possible negative scenarios. The challenge is that once I commit to becoming an owner, I have a tendency to hodl. According to what I see… if we somehow do go significantly lower on Brix, then I could see us cracking below .20 if facing heavy gravity (excluding a market crash scenario or Jan 31st issue).

Though, if we fell into the high teens, then I’ll be loading. Chances are though, it wouldn’t get there because you’d be hitting the buy at .21.

Thanks Canuckski. I agree with your analysis. The low is probably in place but if it’s not, it probably will be by Wednesday or Thursday. The same goes for the sector in general.
I did pick up some shares at .205 and even .20 on Friday before they went higher.
https://stockcharts.com/h-sc/ui?s=BBB.V&p=W&yr=5&mn=0&dy=0&id=p56322576090&a=748708237

Monthly:
https://stockcharts.com/h-sc/ui?s=BBB.V&p=M&yr=11&mn=5&dy=0&id=p47242617969&a=762943745

Speed line backtest:
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=6&dy=0&id=p78403862083&a=804414355

Reversal at fork support:
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=3&dy=0&id=p87347239676&a=777823275

Versus silver:
https://stockcharts.com/h-sc/ui?s=BBB.V%3A%24SILVER&p=D&yr=1&mn=11&dy=0&id=p24891660564&a=762537214

Thanks Matthew.
I always feel more comfortable when I’m aware you like a company.
Let’s see what this week’s opener looks like.

I see Brixton as an almost perfect call option on the sector at this stage of the young bull market and wouldn’t mind buying more even though my current 1.46 million shares is enough for me.

Btw, Scorpio investor Richard Warke (Augusta Investments) has an impressive track record to say the least so his 27.2% stake in Scorpio is interesting. Mr. Warke founded the Augusta Group of Companies which currently includes Titan Mining Company, among others. Of course, that’s the same Titan Mining from this August 31st headline:
SCORPIO GOLD ANNOUNCES OPTION AGREEMENT WITH TITAN MINING TO EARN 80% INTEREST IN THE MINERAL RIDGE PROPERTY FOR US$35M OF EXPENDITURES OR 100% FOR US$35M PAYMENT, AND RELATED C$5M EQUITY FINANCING

Considering Mr. Warke’s accomplishments over the last 15 years, it’s good to know that he sees what I see in Scorpio.

He is also the cofounder of Equinox Gold and you can read about him here:
https://www.titanminingcorp.com/corporate/directors/richard-warke/

The Augusta Group – Track Record in Exploration and Development
https://www.titanminingcorp.com/corporate/about-us/

My Scorpio position is currently over 1.3M shares.

That’s an impressive amount of shares Matthew, showing your obvious belief in the companies.

Matt, I understand that you typically focus on a fewer number of companies rather than an ETF-style portfolio, and ones where it appears you can ride the torque to the upside. I get that.

Could you share your thoughts on OceanaGold? I hold a relatively small position in this one and am revisiting to determine whether or not to add or keep as it currently is. It is one in the basket of my longer term holds.

Although net bullish looking from a weekly perspective, it’s not a buy at this level to me. I would rather wait for all or part of that big gap to get filled OR wait for price to get back above the 30 week MA AND turn that MA up. Fundamentally, it looks just “ok” at a glance but I am almost certainly missing both positive and negative aspects.
https://stockcharts.com/h-sc/ui?s=OCANF&p=W&yr=3&mn=7&dy=0&id=p74756863314&a=879487242

The monthly MACD bought in July and resold a couple months later (and I can see why) but the action has improved a lot since November.

Monthly:
https://stockcharts.com/h-sc/ui?s=OCANF&p=M&yr=10&mn=0&dy=0&id=p31514586710&a=879487242

OK, that’s awesome Matthew. Thank you for the first chart and thank you for the second. It makes it easier for me in terms of making my decision on this one.

About Brixton. Can Gary Thompson be relied upon to credibly follow up the the latest promising drill holes? His history suggests a maddening pivot to chase wishes and dreams elsewhere may be forthcoming.

Having four promising projects has been both a strength and a weakness for Brixton.

Blazesb, while I agree with you that Gary & team have struggled with focus the last few years on their 2, then 3, then 4 projects, they have at least got Robert Friedland’s exploration company helping on Hog Heaven now, had a few more good Silver hits at Langis, and their Copper/Gold/Silver drilling is showing more promise at dept, as Matthew mentioned.

Ar this point Brixton is getting oversold for the optionally of ounces they have in the ground, and undervalued compared to other Silver & Gold explorers or earlier stage developers that didn’t fall quite so much from their summer peaks, with many surging nicely in Dec & early Jan. In that fundamental sense, and based on the technical picture Matthew outlined in the charts above, I’m comfortable adding more if there is any more weakness for the coming relating. I added Friday for the first time to the tracking position I had left in place from selling Brixton as a tax loss sale in December.

relating = rerating.

Silver Tiger Metals (SLVR) – Drilling the Headframe, Exceeding Results

Crux Investor – January 24, 2021 #VIDEO Interview

Interview with Glenn Jessome, President & CEO of Silver Tiger Metals

2:12​ – Press Release: Not Just Another Story?
3:55​ – How & Why They Get Covered by Highly Regarded Groups
5:12​ – Money Matters: Cash Position & Financing it All
7:42​ – The El Tigre District: Discoveries, Potential, & Means for Choosing Reported Data
16:02​ – Timing of Further Drill Results
17:33​ – “They’re Just Chasing Narrow Veins, What’s the Point?”
18:59​ – Market Expectations for Silver Tiger

https://youtu.be/VKNdd0AU_WM

Obviously that goes for the big 4 MSO’s

Yes, I could see cannabis taking the same trajectory as alcohol or consumer goods, but larger alcohol conglomerates have entrenched distribution networks and a long history of sales and track records, so their price/earnings would be pretty well established.

To be clear, I wasn’t doubting the adoption of recreational, in tandem with medical, and was in Colorado twice last year and saw first hand the explosion in small stores. I was just curious as to whether the amount of sales companies like Curaleave or Trulieve or Cresco had warranted the multi-billion dollar valuations at this earlier point, even with good cashflows? It was just startling to see valuations that high, but they may very well be justified depending on just how much cashflow they are producing.

Having Constantine back on the scene the last few years is good for the whole REE space, and was also what jumped off the page when (UUUU) Energy Fuels announced they were having him consult with them about their plans to process the Rare Earths at their White Mesa Mill. Anyone that has seriously followed the REE space over the last decade knew they had brought in one of the thought leaders and subject matter experts, and it was a BIG deal, that most of the Uranium investors following Energy Fuels didn’t fully appreciate at the time or even since then.

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(UUUU) (EFR) Energy Fuels Engages Constantine Karayannopoulos & Brock O’Kelley to Assist in Developing U.S. Rare Earth Element Commercial & Technical Strategies; CEO to Discuss Rare Earths at Mining Conference Today

May 21, 2020

https://www.energyfuels.com/2020-05-21-Energy-Fuels-Engages-Constantine-Karayannopoulos-Brock-OKelley-to-Assist-in-Developing-U-S-Rare-Earth-Element-Commercial-Technical-Strategies-CEO-to-Discuss-Rare-Earths-at-Mining-Conference-Today

As a result of Energy Fuels unique ability, permits, and experience in processing radioactive elements (that often occur in tandem with Rare Earth Elements), this gives them a huge advantage over 99% of companies trying to enter the REE space, and it has been underappreciated in what a game changer this is going to be for the company and for US domestic supply of these specialty metals.

There is also the tired cliche’ that many in the resource sector love to parrot that “Rare Earths, after all are not that rare.” It’s like the flippant remarks about “the world being awash in Lithium.”

Yeah, that is obvious and almost a put down, but one could say the exact same thing about Copper, or Gold, or Oil, or Uranium. The world is awash in all these commodities, but finding an economic deposit is the real bugger, and very few companies have been able to do this. However, what is far more important is the processing required in many commodities like Lithium processing, Uranium enrichment, Oil & distillates refining, and absolutely true with Rare Earth processing.

The ability for Energy Fuels to process REEs at White Mesa is the biggest news to hit the sector in years, but for some reason, most of the Uranium investors just shrugged at the news, because they are only focused on the U narrative, and many likely don’t follow the REE sector or appreciate the significance (yet…. they will over time).

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(UUUU) (EFR) Energy Fuels Set to Enter Commercial Rare Earth Business in Q1-2021, Producing Materials That Make Many Clean Energy and Advanced Technologies Possible; Webcast on Dec. 15

https://www.energyfuels.com/2020-12-14-Energy-Fuels-Set-to-Enter-Commercial-Rare-Earth-Business-in-Q1-2021-Producing-Materials-That-Make-Many-Clean-Energy-and-Advanced-Technologies-Possible-Webcast-on-Dec-15

IBC And NioCorp Announce Successful Production Of Aluminum-Scandium Master Alloy

https://ibcadvancedalloys.com/ibc-and-niocorp-announce-successful-production-of-aluminum-scandium-master-alloy/

Yes, I held a position for a long time in IBC, just based purely on their Beryllium and Copper Alloy business, but it was encouraging to see Mark Smith got involved, first by way of the partnership with his company Niocorp, and then as an officer of IBC.

I sold a lot of my down for a tax loss last year, but am considering getting going again with it as I still like their processing and manufacturing capabilities on the Copper alloys, Beryllium alloys, and then the Scandium/Aluminum alloys, which can be utilized by a few different markets (most notably the defense contracts they’ve landed the last 2-3 years).

Since the Jr resource markets were down in the red today, I decided to add a bit more to my Wallbridge position. It is one I’m happy to keep accumulating on the dips.

I’d like to request to be involved in some capacity, and maybe we could call the venture:

“Lead Balloon Enterprises”

http://3.bp.blogspot.com/-fJPtYBQsYyo/TwqvsLDgvDI/AAAAAAAAgCY/LCvsd1piu64/s1600/leadbaloon.JPG

Hey Ex, it’s all a game of numbers, it doesn’t matter what you are doing in life you must be able to understand math. The best people to run anything are the number crunchers who can figure out profit and loss whether it is running a football team or building a colony on Mars. DT

That’s a solid point DT. The Banksters are good with the number crunching, and most of that would translate over easily into managerial roles. However, it is unlikely they are going to give up cushy jobs at banks to become managers of factories or industry, as there are other skillsets deployed in those fields. I think it is more likely that they go for the building colonies on Mars option. 🙂

Ever Upward!

For clarity, I like the philosophical idea of banks being limited to just depositing and lending money on a 1:1 basis, but just don’t see their power structure crumbling unless the whole fractional reserve system is taken down, and the central banks and the politicians that endorse their corrupt authority, are not going to let that happen on their watch or anytime soon.

Cheers Ex! Unfortunately I agree.

TBTF provides cover for massive handouts/wealth transfers to connected people and their businesses. Those who fall for it don’t understand markets or economics. There is absolutely no such thing as TBTF.

I agree wholeheartedly!