Dave Erfle – Mexico’s Proposed Open Pit Mining Ban, Osisko Mining All-Cash Buyout, Gold Stocks vs US Markets
Dave Erfle, Editor of the Junior Miner Junky joins me to discuss the latest developments in precious metals, including gold and silver’s performance, and examine the recent geopolitical developments in Mexico, particularly the proposed open pit mining ban and its effects on related stocks. Dave provides an analysis of how these changes offer both risks and opportunities for investors.
We also explore recent M&A activities in the sector, focusing on the Osisko Mining transaction and its broader market implications. Additionally, Dave forecasts market trends, potential influence of rate cuts, and the performance of major gold stocks like Newmont and Agnico vs the broad market averages. As we look forward to the upcoming Beaver Creek Conference, Dave shares his strategy for engaging with companies regarding capital access, jurisdictional politics, and permitting timelines.
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter.
Almost forgot: Check your cash balances as they are also charging multiple fees for what used to be a single transaction. For example, yesterday I added some shares of Magna. they filled almost half then raised the bid/ask and I adjusted the price and they added almost the 2nd half leaving less than 1000 shares and raised the bid/ask again. I adjusted and got the last few. Then I checked my transactions and was charged 3 fees. Of course, the fees were adjusted after the close and left me termporarily with a negative cash balance as I rarely keep over $100 cash.
Hi Lakedweller. I already moved on of my Schwab accounts to interactive Brokers. I miss some of the charting bells and whistles that Think or Swim offers, but the trade execution at Interactive seems much better and a lot more of my stink bids seem to get filled. I was finding I would just miss out on stink bids at Schwab and they never seem to get filled. I also like the fact that I can trade on the Canadian and Australian exchanges with Interactive which is much better for certain penny stocks where trading volume on us pink sheets are far inferior. If you use margin there margin rates are far superior to Schwab.
Given my positive experience and your comments above I am strongly considering moving my other account over to Interactive.
Schawb account report for last 42 trading days.
Very interesting statistical issues (data based on 4: PM New York Close):
— Of 42 days of trading, 22 were up and 20 were down (alternating day theory)
— The 22 days that were up, equalled 42.7% of the starting account value (that sounds good)
— The 20 days that were down, equalled -26.7% of the starting account value (sounds like should be a profit for the 42 trading days)
— The total account value for the 42 trading days dropped 6.5%
Possible issues affecting account value which ended 22.5% below what the 4 PM close #s reflected.
1) Overnight EOD processing resulted in almost 100% difference in 4PM NY closing values. Not necessarily every stock, but only a few on a daily basis.
2) Most prominent differences resulted from a change to the 4pm “closing values” in some stocks, mostly to a lower value. This caused two problems in that the EOD total account value would be lower and the next day’s value for the stock with the altered closing price would show artificially higher altering the next days closing account value (normally to a higher value than actually shown in Customer Accounts.
3) If the closing price that appeared altered were compared against the OTC Markets, IBKR, CAD adjusted, or the “Schwab Trading Screen” or “Schwab Research Screen”, the altered “closing price” would only show in the “Schwab Customer Accounts Screen”.
4) I have filed 7 complaints during the trading period directed at the “tangible” false closing prices and so far they see no problem.
5) Account continues to go to 25 year lows.
Some of you may have Schwab accounts and have possibly become suspicious of overnight EOD processing or you may have not compared yesterdays close with todays open. Or you may see similar activity in your 3rd party broker accounts. Since the Regulators have decided not to protect Customers, I would suggest keeping a close look at your accounts from 4NY time to EOD processing sometime around 2 0r 3 in the AM and see if variations can be explained by after markets or just error. Schwab has not denied error but has indicated they aren’t going to fix wrong closing data.