Robert Sinn – Sentiment Swings And Resource Stock Opportunities In Tax Loss Selling Silly Season
Robert Sinn, (aka Goldfinger on CEO.ca and CeoTechnican on X) and publisher of Goldfinger Capital on YouTube and Substack, joins me to share his pricing and sentiment reflections on gold, silver, copper this year, and the opportunities in related resource stocks that we are seeing in tax loss selling silly season. We start off discussing the corrective move in the precious metals that we’ve seen in since they peaked out in October, and how this has affected pricing trends in PM mining stocks and thus sector sentiment.
This is a longer-format conversation with Robert that really covers a lot of ground. We get into the overall good year that gold, silver, and copper have had, and the profitability of the metals producers, but also contrasted across a fair bit of negativity towards the overall junior mining stocks. We discuss the Newmont earnings miss as one of the triggers of the correction; as the largest and most followed gold stock, but also with an outsized weighting and effect on the GDX. Then we compare that muted to negative reaction with some of the other larger gold producers that in contrast have had much more constructive fundamental results and pricing charts, like Kinross, Agnico Eagle, IAMGold, Wesdome, and Alamos Gold.
We then get into investor psychology around trading during pullbacks, the recurring seasonality of tax loss selling, and some of the opportunities that Robert see’s at present. He also highlights the fundamental value proposition of 2 specific companies he is animated by in Barksdale Resources Corp. (TSXV: BRO) (OTCQX: BRKCF) and Endurance Gold Corp. (TSXV: EDG) (OTC Pink: ENDGF).
- In full disclosure, Barksdale and Endurance Gold are positions that Robert holds in his personal portfolio, at the time of this recording, and Endurance Gold is a sponsor of Goldfinger Capital.
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Robert Sinn (Goldfinger) posted this seasonality table titled:
The Junior Mining Sector Explained:
https://cdn-ceo-ca.s3.amazonaws.com/1jjpssc-juniorminingcalender.gif
Extraordinary Popular Delusions and the Madness of Crowds
The world is faster than it was 180 years ago, but many of the delusions are the same
Robert Sinn – Goldfinger Capital Substack – Dec 05, 2024
https://robertsinn.substack.com/p/extraordinary-popular-delusions-and
I have two copies of “Extraordinary Popular Delusions and the Madness of Crowds. The older hardcover is from the 1930’s and a couple of years ago I received a newer paperback version hoping that my son’s would be interested. Although it is a great read on the psychology of humans it can be tough slogging, and most people get bored with it very quickly. It was written for a different time when reading was more of a leisure pursuit. DT
I know Goldfinger (Robert Sinn) was very hyped about Eloro Resources for quite a while but like most stocks in the risky junior segment it has corrected with a vengeance. I was buying Eloro recently in the low 80’s and am now happy holding while waiting for the infill results. DT
Yeah, Goldfinger, Erik Wetterling, Quentin Hennigh, and others were pretty animated by Eloro for a while, but I personally always felt it was way over-valued for what they defined up until that point. I was less concerned about Bolivia, compared to some critics, and more just confused as to why it had a market cap in the multiple hundreds of millions, when there were producers with millions of ounces of PMs and pounds of base metals in the ground, with permits, sunk costs in mines, etc… that were still trading at a fraction of that in comparison.
The valuation of Eloro today is more compelling, but I believe they disappointed the markets when they did their follow-up drilling programs the last 2 years in 2023 and 2024, so people have become less vocally enthused about it. Still, all the metals they had found and more from 2020, 2021, and 2022 are all still there (from when the company was valued over a $5 stock), plus all the drilling from 2023 and 2024, and now it is $0.96 stock.
So by all accounts, it’s is a far more attractive risk/reward setup today versus back then.
Goldfinger’s 2024 Tax Loss Silly Season Shopping List
Goldfinger Capital – Dec 3, 2024
00:00 Intro
02:40 This is a list of bottom-fishing ideas
04:20 Two examples from the 2023 Tax Loss Silly Season Shopping List
06:20 It’s important to take profits
07:00 Mid-November to Mid-December is the best time of year to be deploying capital across the junior mining sector
09:45 Lack of urgency has led to lower share prices
10:40 Don’t pay up
12:00 Show me stories
12:42 Hercules Metals (TSX-V:BIG, OTC:BADEF)
14:38 The skeptics
15:45 Criticism of 2024 drill program
19:00 Western Idaho will be very active in 2025
20:10 Barksdale Resources (TSX-V:BRO, OTC: BRKCF)
26:15 Kingfisher Metals (TSX-V:KFR)
28:40 Patriot Battery Metals (TSX:PMET)
31:35 Tremendous opportunity to get exposure to a world class ore body at a cycle low
33:15 Pacific Ridge Exploration (TSX-V:PEX)
38:03 Scottie Resources (TSX-V:SCOT)
42:20 Thanks for watching!
https://youtu.be/P7jAwVsSdh0