TCRs, a discussion this coming Wednesday will raise questions about the health of metals equities, which are perennially ailing. I am as you know still a believer in the secular up-cycle for most physical metals. Join us! More below. -- Thom Calandra *
Join Us This Week: Gold Bull Or Pink Elephant?
THE HOLIDAY SNAPS from The Calandra Report subscribers here are fun, fabulous.
What is happening with metals equities the past two weeks is NOT.
An interlude: images here are from Italia subscriber Luca Bitonti, who is traveling in Russia; and U.S. road-show organizer Danny Gravelle, also on holiday — in Kenya and on safari and balooning. I will be away a week from today for 8 or 9 days (family break in Hudson Valley and Adirondacks, N.Y.) — yet always pingable via email. — Thom Calandra
Yet when we look at, say, a leading junior mining stock index, and the major miners, too, what we see is a disheartening week of declines; yet over the past (pick a span) month, the direction is all up.
See the charts here (GDXJ — VanEck)
I THINK (and pray) this live and free chat will be worthy: a one-hour discussion staged by 6ix (to the left here) looks to raise grave questions about the health of metals equities, which are perennially ailing.
*Poat-op: 334 attended live! Here is the tape via YouTube.
I am as you know still a believer in the secular up-cycle for most physical metals. Even today-Tuesday — I bought more Ivanhoe Mines IVN (more below) at yet lower prices. I also will resume buying shares of Aberdeen Platinum Trust PPLT (below as well).
I think it is that simple. We will discuss this tomorrow via live and free video.
Join us at noon ET Wednesday with Brien, Rick and Dan … et moi. See info here please.
Your skeptical, scorching questions are welcome, and important.
Feedback is coming in hot and heavy about Yukon’s Victoria Gold and the in-limbo Eagle Gold Mine.The stock is down, up, holding. Is it recovering? I own it and was buying VGCX VITFF through mid-week last week.
GoviEx Uranium: Our coup-torn Niger (and peaceful Zambia) uranium developer GXU published its strident letter to shareholders. See letter — company Chairman Govind Friedland.
Niger’s military government seized the GoviEx development lock, stock and barrel. GoviEx: “the decision to withdraw our mining rights is especially perplexing given the implications for any future developers, who would effectively need to start from scratch.”
There is a case to be made here for future litigation, maybe the next time Niger needs to appeal to capital markets for loans via debt.
Madaouela, the project, became one of the largest and most promising uranium deposits in Africa and probably across much of the world in large part because of GoviEx’s non-stop development there the past 8 or 10 years.
“Today I sold the shares of DHT (at $11.88) that I bought at
10.75. The company behaves extremely well despite the low spot rates.
This performance implies that the buyers are expecting rates to increase
The only reason that I am sounding a bit skeptical is the fact that
rates for the 2nd quarter look much lower compared with rates the same
period last year when the price of DHT was about 15% lower from current
levels. Always looking to buy it back.” — Avraam Gabrielidis
DHT already has its biz outlook, current spot and contract lease rates for its crude oil carriers published — here. Its Q2 numbers will be out August 8, 2024.
More images
Thom Calandra is a writer and an investor. Research and material are meant as editorial opinion. He is not a professional investment adviser. Please do not consider his reporting as a recommendation to buy or sell securities.