THE CALANDRA REPORT
enCore Energy | Ivanhoe Mines | Koryx Copper | Toppers
See The Calandra Report Stalwarts,
Largest Stakes; Spec-Trekkers
& Future Metals Mega-Millionaires
at close of this report please.
Copper. Big gains this week, TCRs.
[Remember: copper is a global gauge for all economic growth … or shrinkage. Perhaps even better than oil prices.]
This summary — from London broker IG — sketches drivers for the outsized 4% copper price gain happening right now: Tuesday.
“The news of China’s stimulus has supercharged copper, pushing it to its highest level since mid-July. Further gains would target the highs from early July.”
That is the big pic. Mine is the specific pick, in our The Calandra Report, and for 2 decade, DRC Congo copper-zinc producer Ivanhoe Mines IVPAF IVN.
Also: EMX Royalty EMX, holder of several copper net smelter returns, most potently the Serbia Timok producing copper-gold-etc. mine operated by China’s Zijin.
More to come from this corner.
— Uranium: commercial banks are embracing nuclear fuel. Explorers and producers are staging a three-day rally. Bill Sheriff of enCore Energy EU (Texas), and Cory Belyk of Canalaska Uranium CVV CVVUF, telling me about China, and the world’s, AI (energy-dependent artificial intelligence growth):
“Without nuclear there is no AI.” — Bill Sheriff
“It is nice to see the large financial institutions show visible support for the growth of nuclear energy. Their support is critical to getting projects backed with funding for nuclear buildout.
AI and data center growth is another sign-post that is gaining momentum. The countries that can support this through clean energy solutions, like nuclear, will lead the field.” — Cory Belyk
I own and have for more than a decade, EMX and Ivanhoe. I own, and have for years and years, Canalaska and enCore Energy.
Other uranium-cos I own, outpacing Tuesday, include Laramide Resources LAM and F3 Uranium FUUU.
Looming Metals Superstars (Human Beings)
I met in SF with nat-resources fund manager Matt Geiger of MJG Capital.
Matt, one of a small crop of young future metals big-money nominees here at The Calandra Report, is deploying most of the fund’s cash for additional equity in worthy gold, copper, nickel, etc., explorers.
MJG‘s half-year updates are a gift. We discussed Heye Daun‘s Koryx Copper KRY, a relatively new explorer in Heye’s Namibia. We have covered it here at The Calandra Report but I do not own the shares; Matt does.
“Heye has had a few solid wins (Osino Resources, Auryx Gold, Lumina Mining) in Namibia (and elsewhere in Africa and South America),” Matt says. “He’s probably on track for tycoon status.”
Also discussed, and owned at MJG: Kenorland Minerals KLD; Ridgeline Minerals RDG — both of those owned for years-long stretches here at home.
Young Zach Flood at Kenorland also gets a tag here along with Matt for big-metals money status in coming years.
Chad Peters, Ontario geologist who now lives with his gorgeous family in Reno to run miniscule yet well funded and partnered Ridgeline, could get branded as “breakaway” if one of three exploration projects (or is it four?) deliver potent drilling headlines this autumn.
Thanks Matt (pictured here), and Cory, and Bill. And Heye. And …
Neglected
I have to tag among companies I no longer update regularly (in the interest of keeping my current sanity markers intact) but are entirely worthy, and no they do not pay me, and some of these cats do not even subscribe: Vista Gold VGZ — still working, developing, grooming its Australia gold project); Summa Silver SSVR — active in Nevada and in New Mexico; West Vault Mining WVM — also a Nevada gold project developer.
In stasis
That is, steady this week after heady gains in August and September thus far: Alamos Gold AGI; Xtra-Gold Resources XTG XTGRF.
Also, in holding pattern is Contango Ore — we own a slug of CTGO here at home. CTGO is an emerging Alaska producer. A spiel online from its CEO here: https://contangoore.us2.list-manage.com/track/click?u=3959ed885041294f345de431d&id=ffbfc1f7ea&e=a372435a86.
Spot and futures gold remain at all-time dollar highs Tuesday. Approx. $2,665 an ounce in USD. È pazzesco (crazy)? Not really; overdue, yes.
Ditto silver (futures and spot) — now $32.50 an ounce, rising 5% for the day.
Our largest mining-co stakes, for 20 years, 15 years. 10 years and eight years in order of size and length of ownership: Ivanhoe Mines; Xtra-Gold Resources; EMX Royalty and Alamos Gold.
Spec trek
Regarding the most speculative of our metals related companies: Comstock LODE, the Nevada silver-co turned metals recycler and decarbonization technology developer; LODE has tripled in price since mid-August to an $85 million market value. We own a small amount of LODE.
— Thom Calandra
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