Weekend Show – Everything Is Going Up To Start The Year, Is It Sustainable?
Welcome to the KE Report Weekend Show!
Since almost every sector is heading higher to start the year we focus this Weekend’s Show on reasons why and, more importantly, if it will continue. We look at recent data, investor expectations and the degree of these moves to understand what the main drivers are for this recovery. And of course, the most important aspect, if these rallies will continue.
Please keep in touch with Shad and I through email. We love hearing what you all thinks of our guests, the companies we featured throughout the week and your thoughts on the markets. Our email addresses are Shad@kereport.com and Fleck@kereport.com.
- Segment 1 and 2 – Jesse Felder, Founder of The Felder Report kicks off the show by discussing “who’s buying what”, in terms of retail vs institutional vs hedge funds. We look at the rebound in tech, continued push higher in PMs, the broad US markets and bonds. The discussion ends with comments on if we have seen a major turning point for the markets.
- Segment 3 – Jeff Christian, Managing Partner at the CPM Group is up next to share his big picture view the “2023 The Year Of Transition”. We ask what investors are pushing the gold and silver prices higher to start the year. This ties into a discussion on central bank buying and US Dollar weakness.
- Segment 4 – Marc Chandler, Managing Partner at Bannockburn Global ForEx wraps up the show by recapping the most important data so far this year and how it has completely shifted investors view on risk. Looking ahead to the upcoming Fed meeting, Marc lays out a scenario we haven’t heard recently.
Exclusive Company Interviews This Week
- SilverCrest Metals – 2022 Financial Update, Holding Silver To Add Leverage And The Possibility Of An Acquisition
- Magna Mining – More High-Grade Drill Results Returned From The Crean Hill Mine Project
- District Metals – Application To Acquire The Majority Of The Polymetallic Viken Deposit in Central Sweden
- Blackrock Silver – Transformative Option On The Tonopah North Lithium Project, While Keeping Focused On Silver And Gold Exploration At Tonopah West and Silver Cloud
Joe ‘the Tell’ followed orders.
GDX may peak this week. If so, a drop to 30 would not surprise.
I believe, Doc, Brady from silver chartist, Gary savage are also looking for gold to sell off from these levels. Point is stop attacking people on this site when you don’t agree, you don’t have to listen, you are adults, I hate it when people target individual’s that have opposite view, so can we please keep this site from these types of unwarranted attacks. Let’s not go there, please. I’m talking about Joe, and comments from people who run this site is not appropriate.
Paul, the “attacks” on poor Joe are not a result of a different opinion. Joe shows up and screams sell in all caps. If Joe put out a reasonable case, it would be met with an entirely different response.
Agreed Karl. Nobody has a problem with a well-reasoned bearish thesis, or disagreeing with a position someone else presents logically and with some sort of data (fundamental, quantitative, or technical).
The issue was Joe repeatedly showing up to troll the site on down days, the joy he took in others losing money in the PMs to then scream at everyone in all caps repeatedly to sell everything and go to cash without providing any rationale or thesis, and making claims like in the 4th quarter everything was going to get ground down to a fine dust or see the worst selloff imaginable, all while never providing any sound reasoning as to why this was going to happen.
When multiple people asked him repeatedly why he had that thesis he never responded back, and then he’d start the whole cycle of trolling the site all over again on the next down days.
He was a broken record, was dead wrong on all his calls anyway in both July when the PMs bottomed and surged into Augusts, and then again in late September and early October when he doubled down on his opinion, on advising everyone here to sell at the bottom (the exact wrong time to be selling or going to cash). Nobody had a problem with the bearish thesis, it was the way he trolled and extolled advise with no real thesis in a snarky way that everyone took issue with.
If he doesn’t come back then good riddance, and if he does, then hopefully he dial it back some and provide an actual thesis as to why he held the exact wrong opinion at the exact wrong time moving forward. For last year he was a perfect contrarian indicator, often front-running each of the rallies in the sector with his permabear stance. Gotta love it!
Yes Paul, attacking people whose opinion differs from yours is uncalled for……constructive conversion and rationalizing one’s viewpoint would be preferred…..however in the case of Joe he wasn’t giving an opinion based on any rational and only showed up on days when gold had big moves down to mock those who were bullish. He hasn’t shown up during the gold run up and probably won’t show up again til gold starts heading down big again. In fact, he’s only ever shown up when gold takes a hit.
That’s right Wolfster. It would be just as bad if a rabid bull came here at every high to say “BUY BUY BUY this is your last chance!”
Certain bears here should get called out and not because they are bearish or wrong.
+1000 Wolfster – Bingo and well-stated.
Also solid additional points by Matthew.
Great points wolf! +10
LOL………..
I am somewhat bewildered by how fast the price of gold has moved in an upward trajectory these last few months. None of my neighbors or colleagues ever mention precious metal, in fact if you were to tell them that our dollar is no longer backed by gold you would here this, “I thought it was”. There is no thought on their part as to why this would matter. End of subject!!!
Meanwhile The BRIC nations keep buying gold and storing it away for the inevitable return of a gold backed currency. The citizens of our country believe that our politicians are dealing with the real issues and in a public emergency they would know what to do if anybody on earth did. What a Ship of Fools.
Ship of Fools? Ah yes, I remember the movie. Great analogy.
Many songs with that title. Here’s the one I always think of immediately
That’s a blast from the past Wolfster. I do love a lot of the 80’s music. Quite nostalgic for simpler times…
I think you mean simpler minds because times were never simpler.
https://www.youtube.com/watch?v=GWAC4UeWGd0
Good one Matthew… and with a new gold dream to boot.
I thought of this one from 1988…
https://www.youtube.com/watch?v=GPyPT7fb0-Q
Agreed DT. Gold tacked on $300 in 2 months from the $1618 low on Nov 4th, when many were expecting to do a waterfall decline down $300 instead (once $1675 support was broken). Instead of it being a 2013 waterfall decline, it took the the express elevator higher, in a nice reversal of trend and fortunes.
Again, the tell was when Silver led the way higher first (after having led the way down first). When Silver got down to $17.40 in early September, and then technicians and market pundits were proclaiming the $16 and then $14 were next, and it instead squeezed the shorts by ratcheting up over $19 resistance, that was the first shot across the bow that the trend was changing. Then the larger and more liquid gold and silver miners got the memo, and bottomed from mid-Sept to late-Sept, and they started moving higher taking Silver’s lead… all while Gold was still trying to find it’s footing.
Over and over again, I asked almost every guest we had on if they were impressed by the move higher in Silver and the mining stocks diverging from the lower trajectory in Gold and most of them either shrugged it off, or only had tunnel-vision about the yellow metal. [We’ve made the point repeatedly that the mining stocks that so many are invested in actually track the more speculative Silver price more so than Gold, but very few gave it much thought.]
I’d get responses back like, “Yeah, Silver has had a nice dead-cat bounce, but really it needs to hold above $19 and ultimately get back over $20 again to get more people interested or excited.”
So when Silver got up above $20, I asked them “Are you impressed that Silver has continued to move higher and is now got a 20 handle? It seems like the mining stocks are also responding well to this move.” The responses were still muted and the responses moved the goal posts again to, “Well, yeah, it’s OK I guess, but really we need to see that $21.50 resistance broken.”
Actually the key resistance level was $21.41, which was tagged on closing basis’s or intraday about 3-4 times previously… but who’s counting right? People like to round off numbers, so fine…. $21.50. So when Silver blasted up through there, I asked again…. “Are you encouraged in the run Silver has had from the bottom at $17.40, up through $19, $20, and now $21.50?”
Once again, pundits and technicians moved the goal posts further out in the responses I kept getting back… “Sure, it’s nice to see Silver above $21.50, but it needs to hold above $22 on a weekly and monthly closing basis to get anyone excited.” OK….
It seemed like it was never enough for people to get encouraged, because they were watching Gold still floundering around. Again, the “non-confirmation bottom” of Silver and the mining stocks continuing to head up and hold their own, and, more importantly, not fall out of bed with Gold was quite telling and stood in stark contrast to the pervasive bearishness we continued to read or listen to from most commentators.
So then when Silver did close above $22 on a weekly basis and monthly basis in November, then I asked again…. “Are you impressed now?”
Finally a few were more encouraged, because Gold had started moving higher in November, but most were not willing to see what was happening as a new bull leg higher quite yet, and were still waiting for the other shoe to drop. I got a lot of comments off mic, and on mic, and emails about Gold potentially topping out and then making a new leg lower, and that they thought while it was nice to see Silver over $22 again, it would likely be short-lived before it corrected again. I’d point out the continued move higher in the mining stocks, and like a traumatized person with PTSD, they said, yeah, but we know it won’t last…
Then in December…. Silver vaulted over $23 and went to $24, and Gold had added $200 bucks by the first half of the month. Suddenly everyone was now encouraged that we may be seeing a new bull market leg, and the calls for Gold going down into the $1500s, to retest $1450, or even restest $1375 were abandoned. Out of nowhere, people started saying that they feel good about buying the mining stocks and that things were looking good. Companies that had been negative all last year, reached out to us and said they’d be putting out some news soon.
It’s hilarious how fickle PM retail investors, many technicians, and resource company executives emotional constitutions are… The precious metals sector had already been running higher for several months, and not until 4-5 resistance levels had been broken to the upside in Silver and the mining stocks, and after a number of stocks were up 50%-200% did people finally concede things were looking more constructive, and that maybe being in cash on the sidelines wasn’t the right call anymore.
Then we turned the calendar page from 2022, to 2023, and for the first week the PMs rallied a little bit with Gold from the low $1800s to the high $1800s and people made a big-to-do about the good first week of the year. WTF?? What about that massive move higher from Sept, Oct, Nov and December?
Then this last week, Gold surged above the $1880’s resistance, got above $1900 resistance, and closed the week on Friday at the $1921-$1923. Now, it’s finally OK to be bullish, and even some of the generalists had to concede it was a nice move in gold (even though they ignored the smoking gun which was Silver and the mining stocks breaking out 2 months before Gold finally woke up.)
Gotta love it! 😉
Of course, in September, when things were totally bombed out, when sentiment & breadth readings were at record lows, and it WAS actually the right time to be accumulating the silly valuations in the mining stocks, hardly anyone wanted to buy. Classic. Most investors abhor buying when things are low, and feel much better buying once things are high. 😉
Ex, good job. You have a lot of energy and were really on a roll with this one… much commentary was unloaded there. I’ll peg it as Chapter 1 of your upcoming new book…. ‘The play by play…. by The PM Player!’ Keep the thoughts coming.
Thanks for the kind words Canuckski. Sometimes when I get to ranting it is good therapy from holding a lot inside during the number of interviews we do with others where I have to hold my tongue. Haha!
Cheers!
Just couldn’t let my ramble be the longest. 😂😂😂
Now’s the time the time is now to sing my song🎸🎵
https://www.youtube.com/watch?v=LzGBQerkvWs
Haha! Yes, Ramble on!
Lol 😂
Yes Ex, I see a feast laid out before us and it makes me chuckle reading your article on the state of the precious metal market. Get out the cigars and an ample supply of bottles and cracked ice, it is time to celebrate and gather at Joe’s place for an all-Saturday- night party session. That is how to celebrate the arrival of The Gold and Silver Bull. Snort, Snort! DT😉
Paul, Nice comments
Technical analysis is at best 80% effective.
Great week of shows. Hard to keep up with all the interviews.
I appreciated how many of the guests mentioned the issue of being bullish gold isn’t a contrarian view now. That’s been my only concern with gold going forwards so I like when there’s some chatter of it being way overbought. Climb the wall of worry. 😎
I’ve been tempted to trade my magna shares but this management team is so solid and newsflow is so steady I’m not willing to risk not holding shares. Drill results coming out regularly.
Like I said earlier in the week Lake I think this time is when Emerita breaks $1 and never looks back.
PM stocks especially the jrs had very little reaction Friday to the move in PM prices. Think it was just a slow Friday as Monday is a holiday in the US. Monday will probably be the same. Hoping gold breaks through the $1920’s resistance next week.
Haven’t gotten back into uranium yet but am starting to look at getting in. Still high on the nickel plays and copper too to some degree.
From this weeks guests chatter the one stock I’ve moved up one my priority list is Dolly Varden. Little ramble(nowhere near an Ex ramble) as I had a bit of free time. Here’s hoping next week is another solid week. Cheers
Thanks for that extended ramble Wolfster, as it is appreciated. Personally, and clearly, I like it when people take their time to flush out some ideas and cover some ground in a post, more so than a passing fancy.
Yep, there were some good interviews this last week for sure, and Goldfinger did bring up that the Precious Metals were climbing the wall of worry the last few months, but that now sentiment was getting a bit loftier lately. As for Dolly Varden, that’s been one I’ve been impressed with for a while and it has been one of better performing positions lately in the PM stocks. Erik Wetterling and I got into Dolly Varden for the middle of his interview earlier this week from the 6 min mark – the 14 min mark for anyone interested that missed it.
To the point about investors and even the main stream financial media getting more bullish on gold and to a lessor degree the gold miners lately, I thought Goldfinger did a good job of summarizing the current sentiment in the sector in this article earlier in the week, as more and more people finally decided to jump on the bandwagon.
___________________________________________________________________________________________________
Gold Vaults Above $1900, Bandwagon Begins To Fill Up
by @Goldfinger on 13 Jan 2023
https://ceo.ca/@goldfinger/gold-vaults-above-1900-bandwagon-begins-to-fill-up
Which way it will resolve? In my mind it will be on upside
https://stockcharts.com/h-sc/ui?s=UUUU&p=M&yr=10&mn=7&dy=0&id=p12128922270&a=1329956660&r=1673718829658&cmd=print
CaliJoe – I’ve got a pretty heavy weighting to Energy Fuels, so it would be nice if it were to resolve to the upside out of that bull pennant, and I placed my bet that that is the way things will work out. Ever Upward!
Copper has been very impressive and now appears to be fully in sync (cyclically) with gold and silver. So much for my thinking that it might make a low below its summer ’22 low. That’s not gonna happen.
https://stockcharts.com/h-sc/ui?s=%24COPPER&p=M&yr=20&mn=0&dy=0&id=p97355519304&a=1320183359&r=1673721221832&cmd=print
Nice Matthew. Monthly FCX chart looks great.
What an incredible run since the ’20 low! It has now broken above important fork resistance as well as MA envelope resistance (that level is 100% above the 300 week MA).
https://stockcharts.com/h-sc/ui?s=FCX&p=W&yr=5&mn=6&dy=0&id=p44178557318&a=1329983346
Yeah, COPX has really had a nice run off it’s lows in September, and the move in Copper and the copper stocks were running along side the PMs the last few months. Very nice to see for the sector.
Goldfinger and I discussed the move higher in Copper recently and I specifically mentioned that move higher we’ve seen in COPX and the larger cap copper stocks. It is interesting how this moved has played out when just a few months back many of the people we interviewed or saw commenting online were convinced the move in Copper was over due to recession concerns.
To be clear, silver and gold are the surer bets for multi-month “holds” as copper has more proving to do that probably isn’t obvious to most especially with all the recent strength. Following a move to/near $5 copper could still come down hard and spend months getting itself in order. In other words, it could still be in correction mode even if a new low is unlikely. That possibility is vastly less likely for the monetary metals as they have had much more time to sort themselves out following their ’20/’21 highs.
US GDP is up significantly since 2020 but not when inflation is properly accounted for. On the contrary, GDP is not only NOT up significantly it’s not up at all; it’s down. What this means for copper I’m not sure which is why I stick with the charts. The charts tell all ALL the time whether chart readers catch the message or not. Central bank counterfeiting might be enough to keep most sectors rising despite underlying bearish fundamentals. The stock market could rise more than most expect due mostly to money-printing yet still fall versus gold (which I expect).
Interesting comment about GDP compared to inflation. I believe that you are correct.
Interesting analysis Matthew. Thank you
Hi Al, you’re welcome.
Yeah, good thoughts Matthew, and I agree that silver and gold are the better “surer” option with more clarity technically and fundamentally for upside potential.
However, I’m still impressed with how well Dr. Copper has done, and how well the copper producers have done. Hopefully we see some of that buying trickle down into the copper juniors soon, and it would be nice to see copper blast up higher with the $5 handle again.
I think India is going to be a big factor in global copper consumption
https://www.livemint.com/market/commodities/india-bucks-global-trend-with-robust-copper-demand-this-year-11668674664589.html
It sure seems that way. Thanks for the link.
GLD up almost 20% in 2.5 months…
https://stockcharts.com/h-sc/ui?s=GLD&p=M&yr=15&mn=0&dy=0&id=t2434191590c&a=1316748432&r=1673724348709&cmd=print
Silver looks fantastic and could easily extend its gains next week but if it pauses instead, the silver miners will probably still do fine since the intermediate term cyclical tide has turned in favor of the miners.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=5&mn=0&dy=0&id=p71896603869&a=1199723462
A weekly close near $25 would give silver a decisive and important breakout:
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=5&mn=11&dy=0&id=p68982546384&a=638471406
Think my silver jr baskets too narrow as I’ve got Impact and Kootenay as my big 2 and they haven’t participated much in the recent silver run after having had an nice initial run from their October lows.
It’s always a good idea to have some large caps but I think IPT and KTN will soon make you forget all about their recent lagging.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=7&mn=3&dy=0&id=p72126021626&a=570417673
Not to be a part pooper by any means but i still think there is that possibility i mentioned that impact won’t mover till next month. I’m 100% bullish all in saying is when it goes it will fly but it’s bucking everyone off.
Also every one who was bearish on this show against gold, silver and the miners obviously missed the big move in some of them including my iamgold since Terry blew me off at its actual low. Now everyone who is bullish coming on the show taking to ex is bullish at the wrong time. We will get a correction but they are going to learn the hard way that it’s not what they think will happen in terms of percentage. They will be waiting for a big drop and it will catch them waiting.
Impact is going to fly soon maybe another week or three possibly you think sooner.
Glenfidish – Thanks for sharing your insights with us here on how you’re looking at the technical setup in Impact Silver, Iamgold, and other mining stocks.
Yes great point that many of the people on the show we interviewed were still quite bearish at the time where they should have been accumulating oversold silly valuations in the metals and miners, and now that things have run for a few months many of them are suddenly bullish. It’s an interesting contrarian indicator of its own and with regards to how sentiment creeps in on many folks analysis and then reverses once it is more obvious on the price.
Of course you could be right Glen but I think this week will see IPT move with strength. If so, Thursday and Friday should be particularly strong.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=0&mn=7&dy=0&id=p61033967115&a=1330444786
Wolfster, are you sure you aren’t jinxed. Maybe if you sell IPT and KTN they will go up. Now I am beginning to believe my KTN and IPT are stuck because you own them. LOL! DT🤣
My footy mates certainly appreciate when I don’t bet the games they’ve bet in the premier league. 🤣🤣🤣
Maybe we can come up with a Wolster index and then short it? Haha! 🤣
Baba almost doubled in 3 months! And I think this could be just the beginning
https://stockcharts.com/h-sc/ui?s=BABA&p=M&yr=6&mn=7&dy=0&id=p11256051431&a=1329998105&r=1673725824685&cmd=print
I’ve shown the following TSX-V chart several times in recent months and it has only improved (from a buyers perspective):
https://stockcharts.com/h-sc/ui?s=%24CDNX&p=M&yr=25&mn=0&dy=0&id=t6569343295c&a=1269638499&r=1673725929956&cmd=print
Even short term the dollar looks like it will continue to be supportive of higher gold.
https://stockcharts.com/h-sc/ui?s=%24USD&p=D&yr=2&mn=1&dy=0&id=p69213454991&a=1328593224
Hi Ex, like we have been discussing it will be interesting to see how the dialogue and the dance between Superior Gold and Catalyst Metals works out. Superior has got the mill and the TSX-V listing. Catalyst has some eye-popping drill results, a big land position that could add a lot of additional ounces, and a listing on the ASX. A merger would be a great option, as one compliments the other. Do-Si-Do, swing your partner around. If the merger happens the newco will be a force to be reckoned with. I think Superior Gold or Catalyst Metals would have to take on too much debt in a move where one bought the other, and a toll milling agreement although workable doesn’t really change a lot for either company. Superior Gold’s market cap is less at this time because of the circumstances surrounding the firing of their mill contractors, but these two companies make a great fit. If they do merge, I will want to own more.
Yes good thoughts DT on the courtship or pending deal between Superior Gold and Catalyst Metals. I agree that a merger may be best, but I think a toll milling agreement could still be quite beneficial to both companies as another option. We’ll hopefully know soon what kind of an agreement they’ve settled on.
It looks like a 20%+ correction was all Brixton needed…
https://stockcharts.com/h-sc/ui?s=BBB.V&p=W&yr=3&mn=7&dy=0&id=p73443335606&a=1301452883
The breakouts of a week ago set the stage for further upside and we got it.
https://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=7&mn=7&dy=0&id=p76176864250&a=693558588
KTN should not be lumped in with IPT concerning recent performance as its “lagging” followed a quick 160% gain and breakout which put it out of sync with the silver miners in general. Such corrections are normal and not bearish in the least.
https://stockcharts.com/h-sc/ui?s=KTN.V&p=D&yr=1&mn=3&dy=0&id=p73982887444&a=1293936903
Could Lara’s primary count be accurate? If so, it’s a bit spooky!
Zig-Zag Bottom, or ZZ-Top?
https://tinyurl.com/2w9xw9nk
Gold watch, diamond ring!
Steve Penny … Silver , what to expect in 2023.
Thanks IrishT. Steve Penny is a sharp technician, with a good grasp of the fundamentals, and a good friend to the KE Report.
My new nursery rhyme.
SILVER
1 ounce 2 ounce 3 ounce 4
5 ounce 6 ounce must buy more,
the price could drop
to were it was before,
but i hear a rise
knocking on the door,
7 ounce 8 ounce 9 ounce 10
11 ounce 12 ounce must buy more.
Just what I need to hear when I get home from a funeral!
Big Al, you realize that life is a great illusion, and we must all jump off the bridge at Seneca Falls in upper New York State. It’s “A Wonderful Life”.
Thanks for the comment Mr. Tracy. I believe that suicide is a sin!
Hi Big Al, I also agree with you, suicide is a sin. I am always sorry when someone takes their own life. I was referring to the natural order of life, I hope you understand that. DT
I like it IrishT! Pretty catchy.
LOL
Waiting to see what happens Monday… then Tuesday … then …
Wednesday?
Quick studies deflate my bubble …🥸
Not much happening Monday stockwise with it being MLK day so I’m sure Canadian markets will be quiet too.
Just wait till Freaky Friday rolls around……….. then you know the direction of this circus
Global Swapping Of Dollars For Gold has $2000 Per Oz In View
David Erfle – Junior Mining Junky – Friday January 13, 2023
“On Thursday, Gold Futures breached $1900 per ounce for the first time in eight months after growth in U.S. consumer prices and inflation slowed as forecast in December, aiding the Federal Reserve’s goal of continuing with smaller rate hikes in 2023.”
“The benchmark COMEX Gold Futures contract has risen over 4% since the start of the year, extending its now 18% rise from a monthly triple-bottom in November. Thursday’s session high of $1906 for February Gold was the loftiest price since May, when the safe-haven metal rose to a peak of $1910.”
https://mailchi.mp/cb5c67f194aa/david-erfle-weekly-gold-miner-sector-op-ed-1601565
‘Corporate Earnings Are Unsustainable’
Jesse Felder – The Felder Report – (01/14/2023)
“In Fact, the whole trick in life is to get that your own brain doesn’t mislead you.” Charlie Munger
Thanks Ex for your response above! I agree 100% with what you said. I know there were some like Doc that said he would expect it to really take off after march or second quarter. I just can’t remember completely who was on that train. Either way many stocks are up from there low. I would agree with some viewers in here that the speculative, explorers, tiny cap are yet to truly move. I know you and matthew ave had some dialogue that they tend to really move towards the later end of an intermediate move or sometimes they march to there own beat.
Yes indeed Glenfidish, and good comments. The tiniest juniors tend to lag the moves in the larger-cap PM mining stocks in the earlier stages of a bull market, as initially capital flows to the producers that can immediately monetize the higher metals prices and improving margins. Developers with projects whose economics are improving, or even companies with known ounces in the ground tend to move next on their optionality in the face of higher metals prices. Also ETF buying puts a bid into the larger cap producers and developers held in those respective funds.
However, as the bull really gets moving the capital flows down the risk curve into the juniors and it doesn’t take much buying to send the microcap stocks up multiple-fold, where they’ll handsomely outperform on a percentage basis. So those investors with patience will be richly rewarded.
As noted, there are some juniors though that may have outsized moves earlier on, or conversely others that may not appreciate like the rest of the sector; because they do tend to march to the beat of their own drums, being affected more by newsflow (especially with drillplays).
Now that we’ve seen the moves playing out in the larger stocks and ETFs (with many up 50%-100%+), it will be the juniors that start to really shine on the next bullish impulse move to new highs. Some of the better juniors have already had nice moves over the last few months, and they can still go up 3x, 4x, 5x from here as the next 12-18 months unfolds.
If we get a corrective digestive move in the near-term, it will just increase the potential risk/reward setup to buy into that pullback.
GOLD (Monthly) : https://postimg.cc/Y4p4BxbD
(12 Hour) : https://postimg.cc/D8Pn33HF
The Wyoming Legislature is considering a resolution to phase out sales of new electric vehicles in the Cowboy State by 2035.
The resolution’s sponsor, Sen. Jim Anderson, R-Casper, told Cowboy State Daily the intention of the proposal, titled “Phasing Out New Electric Vehicle Sales By 2035,” is to push back against bans on new sales of cars with internal combustion engines in states like California and New York.
“The Legislature would be saying, ‘If you don’t like our petroleum cars, well, we don’t like your electric cars,’” Anderson said.
Current : https://postimg.cc/SjzjRK57
Having effortlessly passed through the 1:1 (1891), this uptrend breakout may continue to 1937 (1:1.272) or beyond. A generally finalizing Chapman Wave ‘F’ is in process now. The next pull-back will reveal the near term health of this bull trend.
News from Brixton. Guess the real question is what keeps people’s interest with next round of drilling not til late April/early May at Thorn Project
https://ceo.ca/@globenewswire/brixton-metals-drills-2340m-of-057-cueq-within-58244m
Investor interest will come from those looking to get a good deal ahead of the next drilling program 3 months away. BHP’s $13.6M investment at .18 and Crescat opting to maintain its percentage with an additional $1M investment of its own will be supportive of the share price as will the fact that the next round of drilling is fully funded. It can’t be assumed that there will be another financing (with better pricing and/or warrants) anytime soon which means buyers will have to compete for shares. Then there’s the deals with Ivanhoe Electric and Pacific Bay Minerals. What are they worth?
It will be interesting to see how far the market allows the share price to pull back. It’s already down 22% from its recent high and I’m almost positive it’s going lower but I bought more today anyway (at .24).
The VWAP today so far is .252 so most of the buying has been well above the current level.
Catalyst Metals unveils major consolidation play in Western Australia’s rich plutonic gold belt.
https://smallcaps.com.au/catalyst-metals-consolidation-wa-vango-mining-plutonic-marymia-gold-belt/
Not sure how this will play out, but it appears Catalyst is after Superior’s Plutonic Gold Mine. I still believe we will see a merger.
Calalyst Metals Recommended bid to acquire Vango Mining. Calalyst is on the move, Superior also has high grades, the real prize now is the Plutonic Gold Mine and Mill.
https://www.listcorp.com/asx/cyl/catalyst-metals-limited/news/van-catalyst-recommended-bid-to-acquire-vango-2822901.html?ref=trending_news_home
There we go DT. The combination of Catalyst Metals with Superior Gold is now official. Nice to see some more consolidation in the space, and both companies were struggling individually, so hopefully this is a 1+1 = 3 scenario.
HUH!
There is nothing like consolidation, you’ve got to be in it to win it! LOL! DT😉☺🤣
Heading for 100 comments on a long weekend, with lots of old regulars showing up; only the priest from London is missing.
Is it PDAC weekend or something? If so, I’m definitely selling my WPM in Canada today.
Sentiment is setting up nicely for a March flush.
Thank you, Bye.
Thanks Irwin W
You’ll probably need weekend show comments of around 300 for a useful reading beyond the short term.
Weekend shows in August and July and November topped 100.
Agreed Matthew. I don’t think 100 comments on here is peak KE Report in the slightest, and during more bullish sentiment there were many 200-400 comment shows. Besides, while the number of comments is interesting, informative, and does tend to trend with sentiment, it is not an indicator of how many people listened to the show. We’ve had inteviews with over 500 downloads and 1000 listens that have few or even no comments.
I can report back to folks, that while it was a solid weekend show and overall the numbers are starting to trend back higher again over the last few months, that we still had more downloads of episodes from Craig Hemke, Erik Wetterling, Robert Sin, Jordan Roy-Byrne, and Dave Erfle last week than we did the weekend show downloads.
There is a long way to go before sentiment is getting too frothy in the sector.
Brixton Metals, (SYL-BBB) drills 234m of 0.57% Cu Eq within 582.44m of 0.45% Cu Eq within 779.65m of 0.37% Cu Eq at its Camp Creek Porphyry Target, Thorn Project. BHP must be pretty happy with the series of drill results at Thorn over the last few days.
https://money.tmx.com/en/quote/BBB/news/8492304057652288/Brixton_Metals_Drills_2340m_of_057_CuEq_within_58244m_of_045_CuEq_within_77965m_of_037_CuEq_at_its_Camp_Creek_Porphyry_Target_Thorn_Project
Well it’s down 11% this morning so not sure that the market likes these results. Still holding. BHP will be on this case going forward so if anybody can find minerals it’s them.
Newcrest Mining Ltd. elects to enter into the option phase on Gunpoint Exploration’s (SYL-GUN) Appaloosa Property. Gunpoint is an interesting Company I believe they are owned by Chesapeake Gold. They have one property in Guatemala that is completely surrounded by a property owned by Pan American Silver that they are trying to get back into production.
https://money.tmx.com/en/quote/GUN/news/7899017530275555/Newcrest_Elects_to_Enter_into_the_Option_Phase_on_Appaloosa_Property
Maybe Tuesday will be better when all markets are open. Did I say maybe?
That might have been a maybe… possibly.
Dow Jones Futures Fall, U.S. Markets Closed For MLK Holiday; Tesla’s Big Transition
Ed Carson – Investors Business Daily – 01/16/2023
The article fails the Gold Test: Zero mentions of “Gold”.
Yeah, I guess you’re right BDC about the article failing to mention gold.
However it did review crude oil prices, which is black gold, and it did bring up the SPDR S&P Metals & Mining ETF (XME), and copper, and EVs with Tesla (that require white gold = lithium for batteries), and there were some interesting points about other commodities, general markets, and cryptocurrencies with Bitcoin (which some claim is “digital gold” even though that clearly was proven incorrect last year). All in all, it just seemed like an interesting read on a number of different sectors.
Ex, I think it’s a positive that Gold wasn’t mentioned.
A big number – froth – could have ‘another’ meaning.
I am counting on traders in Botswana to turn the paper markets up by morning.
That’s an interesting South African nation to look for the turn in the markets, but it’s gotta start somewhere…
Desperate times call for desperate actions … obviously this wasn’t one of those.
There you go ….Day 2 of downtrend. Range Bound Still … nothing to do with fundamentals. Has to do with value. Very strange.
added: -6% already and growing
Great week for Gold
Where is Sell Sell Sell Joe ?
Now his message would make much more sense then half a year ago when Gold bottomed