Also: Coveted Guyana | Unexplained Move — Azimut-Exploration | G2 Goldfields | EarthLabs | Calibre Mining | Guanajuato Silver | Discovery Silver
[A Really Bad Gold-Payable Loan For Guanajuato Silver: below please *]
TCRs, thus far, I am on the early side of my gold-price (and platinum) prophecy. [See ‘broken record’ here please.]
The froth is on my lips. A full head of steam ahead I believe for (further) December’s active physical bullion prices — the published spot and futures prices. Metals, metals equtieis and global markets WEDNESDAY continued to, in some cases, all time highs.
Still, aside from that always ill-advised forecasting (my No. 2 career professional mistake*), we all know the metals stocks are the genuine, 2023 woebegones. “Oh, let the woe be gone,” a miner-exec-engineer we all know told me earlier this week. [Plunging into new names — below.]
My go-to analysis comes from longtime Seabridge Gold SA founder and CEO Rudi Fronk and team, whom I have known for a decade. They run THE CASE FOR GOLD. “Gold broke to all-time highs at $2,147 (in Asia). Volatility is high. We expect a brief retracement Monday in North America to the breakout area around $2,050 to $2,080 an ounce, and then another move higher — which is the one that will bring an explosive move in gold stocks.”
Plunging: investors at last look (November influx numbers) were buying shares of the mining equity indexes, GDX and GDXJ (VanEck).
That explains some of the late-November buying of the big and not-so-big miners’ stocks in those two indexes. The ETFs get an influx (vs. a drawdown) of investor money and the money is used to buy more shares of the 35-plus stocks in the GDX big miner exchange-traded fund and the 10 or so in the GDXJ juniors one.
Still, the mining group as represented by the indexes need to catch the excitement of the gold price. The GDX is up about 6% for the year, some of that a November lift from rising commodity prices.
Non-sequitir: producer and cash-flow maestro Alamos Gold , by the way, is in both the biggie GDX and the weeny GDXJ funds.
Sold recently at a solid profit: Laramide Resources LAM. If uranium ever chills, that is the first name I will buy back.
Among the not-so-obscure, of course, owned here nt home: Ivanhoe Mines IVN IVPAF ($16 billion market value approx); Alamos Gold; Victoria Gold VGCX; Contango Ore CTGO; EMX Royalty.
I look to “plunge” into a new name or three, as our reporting here has indicated this past week, what with the gruesome performance of mining equities. These likely will be chosen from Calibre Mining CXB CXBMF — I have sidestepped Nicaragua-Nevada producer-esplorer Calibre, alas, for far , far too long a time; Fury Gold Mines FURY — met its new CEO, Tim Clark; and tiny EarthLabs SPOT SPOFF (see previous reporting please), a predictive modeler/media hopeful/royalty owner based in Toronto and Montreal. And G2 Goldfields GTWO GUYGF, whose Oko project in Guyana is out with more high-grade results, albeit short intercepts, for an underground mine.
Pat Sheridan, G2 chairman, says the so-called vote by Venezuela voters to “annex” part of oil-rich, gold-laden Guyana, is much ado about niente.
Pat tells me from London, “I’ve seen this show several times over the past three decades.” (Argentina, Britain and the Falkland Islands is the best known attempted grab — although that was in 1982).
Bogus President Maduro has little support in Venezuela; his annex referendum for Essequibo, the coveted parcel of Guyana about the size of Greece, turned out 20% of the vote, according to news reports.
Guyana is a strategic oil asset for the United States, “and it’s not in the Middle East.”
See G2’s Oko assays please. I do not own the shares .. not yet, anyway.
Azimut Exploration: AZM AZMTF has disappointed many investors these past four years. Still, the stock today finally rebounded amid unexplained volume — that from a multi-year low. Still lots of promise, and yes, I am underwater after 4 or 5 years by 40% or more.
I hope to see the promise of its James Bay gold (Elmer) and lithium projects attract attention. Eric Lemieux, an independent geologist-analyst, tracks Azimut. He says, “Tide is rising.” Eric was with Azimut scientist-CEO-geo Jean-Marc Lulin in Zürich a week or so ago.
He says Jean-Marc’s visit got attention from family offices in Switzerland.
Anyway …
TCRs, more to come from a London
investment banker and trusted,
longtime subscriber with roots
in Australia, UK and Italia.
("Look at the torque
in Discovery Silver since last week's
lows -- up 30%.")
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.