The Calandra Report

TCRs,
HODL Gold = HOLD ON FOR DEAR LIFE
Silver this Friday June 11 2025 is outpacing gold by a solid percentage margin (up approx. 4% vs. 1% for gold) and trades at $39.13 in futures contracts.

Please note, I add a small amount of Contango Ore CTGO to the ownership list below. The Alaska gold producer and developer is in there now.

Gold — HOLD ON FOR DEAR LIFE:(‘Hoody’ provided by U.S. Global Investors, U.S.funds.com
 
I also must mention Chad Williams‘ Honey Badger Silver TUF HBEIF, the Yukon, NWT and Nunavik explorer which I now own. Its market cap is miniscule even with a 50% gain since early June. 
 
None of these names is intended to act as a recommendation. I know most of the operators in the lists below.
 
Happy Gold Friday, TCRs.

 

These are the largest natural resources stakes we own here at home.

The share counts are approximate.

Ivanhoe Mines: 56,000 shares

Xtra-Gold Resources: 115,000 shares

Alamos Gold: 4,600 shares

EMX Royalty: 11,000 shares

Banyan Gold: 78,000 shares

Regarding physical, aside from coins, bars and nuggets, we own Sprott Gold & Silver Trust,  Sprott Physical Silver Trust, Sprott Gold Trust, Aberdeen Platinum Trust. The amount comes to more than $150,000 USD.

Among miners, we also own various amounts of: Elemental Altus Royalties, West Vault Mining, Kenorland Minerals, Vista Gold, Avino Silver & Gold, CanAlaska Uranium, Baselode Energy, F3 Uranium, Val-d’Or Mining, C3 Metals, Koryx Copper, Newcore Gold, OreCap Investment Corp., Honey Badger SIlver, Contango Ore, Comstock Inc., Ivanhoe Electric, Ridgeline Minerals, Integra Gold, Emperor Metals & Azimut Exploration.

We own four Calgary-centered energy-cos and a crude oil shipping-co, DHT Maritime. We own the 2x leveraged Bitcoin ETF, BITU*.

We own shares of private gold “currency” and collectibles publisher Valaurum Inc.

* I refrain from tagging the four energy-cos and several additional companies, one a diversified operator of renewables, for instance, another a major defense company, and so on, that I have no intention of including in reports.

Thank you.

*August 20 2025 update: I sold my shares of the 2x Bitcoin ETF, BITU, for a small profit. (Proshares Ultra Bitcoin). I am using available funds to increase my holdings of CEF, the Sprott-run gold and silver repository and closed-end fund. (Sprott Physical Gold & Silver Trust)

— Thom Calandra

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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. The Calandra Report, in its 13th year, offers a one-price, $139 yearly fee for all newcomers. Earlier subscribers keep their original cost. Sob stories listened to. No refunds after three weeks of service. Exceptions:groceries, mistaken ambitions.