This is a late continuation of the predecessor thread titled:
“Gold, Silver, and Hard Assets…FALL 2017”…from which, I quote:
“Everyone makes mistakes and I make more than my share.”
Well, I nailed that one. In 2018, overall my picks were not successful.
Many of the mining speculations were duds. Plus the commodity price landscape was not favorable for the sector.
So there is no particular reason to listen to my opinions, more than anyone else’s.
Caveat emptor. But here we go again, hopefully for a better year.
PURPOSE The purpose of this thread is find and discuss good long term investments and speculations in gold, silver, and other selected metals. We are not a short-term trading thread, although occasionally there are short-term trading opportunities that may arise.
FOCUS Gold, silver, copper, nickel, platinum group metals, zinc, uranium.
NOT A FOCUS: Scandium, cobalt, aluminum, manganese, lithium, and aluminum; and developments in extraction and technology. These are better discussed on other threads. Some overlap is unavoidable but keep it to the minimum.
AUTHOR INTENT…Two themes: long-term capital preservation based on metals, especially precious and demand industrials; and big capital gain speculations based on them.
This second theme can lead to very speculative investments in exploration and development.
This can be in conflict with the theme of capital preservation, as it was for me in 2018.
I cannot fully reconcile this paradox, and I can understand if a reader does not feel inclined to put money into these vehicles.
BIAS…Obviously I am biased to hard assets…see title of thread. I favor royalty companies, developers, and miners. My enthusiasm for exploration has been reduced, as my efforts in that sector were failures for the most part last year. But they are still entertaining, and the memory of a few big hits keeps me interested.
I have significant positions in physical metals but it is boring to talk about them,
I believe in the concept of optionality as propounded by Rick Rule.
Because of this I am of the opinion that , in general, MINERS SUCK.
I am wary of big-cap miners, ETFs, and indexes.
I am strongly influenced by leadership and management. I am a big fan of Robert Friedland. His companies have evolved into a major component of my portfolio and interest. I consider him to be without peer in the mining development business. I am partial to other personalities in the mining business, such as Watson, Sprott, Rule, Mcewen, Lundin, Keevil, Lassonde, and a few others.
My favorite jurisdictions are Canada and Australia, but I will look at sketchy neighborhoods if I think the story is compelling.
I believe gold and silver prices have been manipulated and suppressed by powerful groups, including and especially governments and central banks.
I think these efforts will eventually fail, but they can visit havoc on prices and values in the meantime ,and keep prices artificially low for long periods.
Accordingly, I have shifted a fair allocation of my holdings away from gold and silver, and into copper and other metals that I believe will benefit from the trend towards electrification.
POSITIONS My largest positions are Cleanteq Holdings, Sandstorm Gold, Ivanhoe Mines. My percentage of gold and silver assets is still probably much higher than that of most people.
Clean Teq is my largest position but is not a primary topic on this thread.
Positions :
Miners, even though they suck:
- $IVPAF Ivanhoe Mines (multi-metal, 3rd largest position)
- $MAG Mag Silver (silver)
- $MUX Mcewen Mining (gold, copper)
- $SCCO Southern Copper
Royalty/streamers:
- $SAND Sandstorm Gold (2nd largest position)
- $WPM Wheaton Precious Metals
Developers:
- $CTEQF Cleanteq (#1 largest position, discussed on separate thread)
- $SA Seabridge Gold (gold)
- $ERDCF Erdene Resource Development (gold)
- $MGMXF MGM Minerals
Exploration speculations:
- $CNRIF Condor Resources
- $LNZCF Sama Resources**
- $SRI Sparton Resources**
- $ARRRF Ardea Resources**
- $CMDRF Commander Resources**
- $KVLQF Valore (formerly Kivalliq)**
**Sama, Sparton, & Ardea are discussed on Clean Teq thread; Commander and Kivalliq are “stub” positions left over from failed speculations
Exits…Kaizen, Cordoba, K92, Colorado, Pretium, Platina, UEC, Bear Creek
____________________________________________________
DISCLOSURES. I am a retired executive and an amateur investor. I like both fundamental and technical analysis. I surrender to flights of intuition and paranormal insights when they come to me.
I am a medium-term to long-term position player, and prefer to discuss stock investment in that context. As more of my capital moves into conviction stocks, my transactions have become smaller and less frequent, and my standards for taking new positions have become higher.
I am not an expert in any of the commodities discussed, nor am I qualified to give advice. And by no means do I have any expertise in geology or metallurgy.
I express opinions and positions. These are not advice or recommendations, which I remind you I am unqualified to make. I change my mind frequently and my opinions are subject to change at any moment. I intend to keep the thread current but I cannot guarantee that I will tell anyone when I have changed my mind on a particular stock .
CAVEAT EMPTOR. You are responsible for your decisions, and I am responsible for mine. Do your own due diligence. Remember, MINERS SUCK and most mining project FAIL.
***
POLITICS Political developments and topics should be introduced only when they have a clear relevance to the commodities or companies under discussion. An occasional outburst of outrage, disgust or indignation is tolerated and understandable. But keep it low, and no cheap shots.
POSTS We want a friendly, honest, and constructive atmosphere. Have fun, entertain yourself. But if you want to have fun by insulting people, go elsewhere. Be nice, or be gone.
Try to have reasons for your opinions. Facts and speculations are both welcome, but try to distinguish between them.
Spelling, punctuation, and grammar matter. Everybody makes typographical errors and I am as guilty as the next person. But if you make a lot mistakes or are careless about these things, you are sure to be making errors in other more important things. So…it’s annoying, and it detracts from your credibility even if your idea is good.
MODERATION AND CENSORSHIP As thread moderator I reserve to myself the role of referee, censor, arbiter, and Grand Poobah, subject to the over-arching authority of Travis, who owns the site and who has on occasion exercised his right to ruthlessly censor and suppress my radical blatherings.
If you are suspected of shilling or not having clean motives, or if you are a nuisance, I will cry to Travis, ban you from the thread, and you can start a thread of your own.
This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.
WAITING FOR GOLDOUGH…patience, wins and losses
There is a fine line between patience and blind stubbornness.
Fortunately for my portfolio, at least Sandstorm Gold ($6.50-$7) and the recent spot prices of gold have vindicated my persistence and enabled me to characterize my outlook as patient, rather than stubborn.
From the opening post, I remain long Ivanhoe, Clean Teq Holdings, McEwen, MAG, SCCO, ERDCF.
Will recap recent exits and remaining positions. Mostly I have been just sitting.
Regards to all.
******
Fashiongirl…as I have not been looking for new positions, I have not had time to sleuth out the teaser you presented. The thread has not been very active recently but maybe another reader will track it down. If you think you have the Swede, give the name, that can help identify the target. Maybe it’s Lukas Lundin or someone in his family ?
HN, Good to see you again, I was hoping my last post might joggle you back for a bit.
I’ve been pretty much sitting too when not kicking myself for not having bought lower. SAND is one of the bright spots in holdings.
$FYI – Carmakers, battery manufacturers are calling nickel companies direct as supply shortfall looms
“Still, those fundamentals look good.”
https://stockhead.com.au/resources/carmakers-battery-manufacturers-are-calling-nickel-companies-direct-as-supply-shortfall-looms/?utm_medium=email&utm_campaign=Stockhead%20Morning%20Newsletter%20Mon%20Aug%2012&utm_content=Stockhead%20Morning%20Newsletter%20Mon%20Aug%2012+CID_3cc06e5d42bcbf9712557b73c8778369&utm_source=Campaign%20Monitor&utm_term=Carmakers%20battery%20manufacturers%20are%20calling%20nickel%20companies%20direct%20as%20supply%20shortfall%20looms
Precious metal price manipulation? How about a conviction of just that (gold)?
https://www.zerohedge.com/news/2019-08-11/gold-and-silver-are-winning-against-banker-price-suppression-schemesfor-now-0
$MUX – MCEWEN MINING: GOLD BAR UPDATE
https://mailchi.mp/mcewenmining/mcewen-mining-gold-bar-update?e=9dec8f6bb8
MUX long
“What John Doody is not telling you about Belo Sun (BSX.to) ” $VNNHF/$BSX
https://incakolanews.blogspot.com/
Thanks to danbob. Important video. Bannon on China
https://www.youtube.com/watch?v=qH5QzuzD01A
$JRVMF – Jervois Mining receives rock chip results from Kilembe Area, Uganda | Corporate Presentation – September 2019
This is for those that were holding $ECSIF and now have JRVMF.
https://mailchi.mp/8126a2feb775/jervois-mining-receives-rock-chip-results-from-kilembe-corporate-presentation?e=2dd208b26e
ASX:JRV long
$MUX – MCEWEN MINING: EXPLORATION AND OPERATIONS UPDATE
147NE Zone Continues to Deliver Good Results
Reduced Guidance for Black Fox and Gold Bar Production
https://mailchi.mp/mcewenmining/mcewen-mining-exploration-and-operations-update?e=9dec8f6bb8
MUX long
$JRVMF – 2019 Annual Report to shareholders
$ECSIF merged with Jervois Mining Limited.
Jervois Mining Limited. (the “Company” or “Jervois”) (ASX:JRV) (TSX-V: JRV) (OTC: JRVMF) (FRA: IHS) is pleased to release its Annual Report for the year ended 30 June 2019.
Click here to view the Chairman’s Letter
Click here to view the annual report
For further information, please contact:
Bryce Crocker
Chief Executive Officer
bcrocker@jervoismining.com.au
$MUX – STOCK PROPERTY EXPLORATION
– HIGH-GRADE INTERSECTIONS
34.7 g/t gold over 5.9 m, including 74.1 g/t over 2.7 m
83.5 g/t gold over 5.6 m, including 417 g/t over 1.1 m
WOW high-grade is an under estimate
https://us7.campaign-archive.com/?e=9dec8f6bb8&u=54884396b6f268cdab117f15a&id=be4099c8ed
$MUX long
$MUX – MCEWEN MINING REPORTS Q3 2019 PRODUCTION RESULTS
https://mailchi.mp/mcewenmining/mcewen-mining-exploration-and-operations-update-847553?e=9dec8f6bb8
MUX long
$MUX Long
Thank you for all (not just MUX) of the updates. I read them all.
$ERDCF Youtube 10/20/19 > Episode 2: Path to Development – The New Khundii Gold Project
https://www.youtube.com/watch?v=OYEqYqrbb4E
Erdene Announces Positive Pre-Feasibility Study Results for the Bayan Khundii Gold Project
https://erdene.com/site/assets/files/4147/erd_pr.pdf
Best!
$MUX – McEWEN MINING: STOCK PROPERTY CONTINUES TO IMPRESS
https://us7.campaign-archive.com/?e=9dec8f6bb8&u=54884396b6f268cdab117f15a&id=f3fdab6305
MUX long
$MUX – MCEWEN MINING:Grey Fox Drilling Hits 10.9 g/t Au over 18.8 m and 14.1 g/t Au over 8.4 m
“These results highlight the potential to find additional gold mineralization across the one square kilometer Grey Fox Deposit area,” said Sylvain Guerard, SVP Exploration.
https://mailchi.mp/mcewenmining/mcewen-mining-grey-fox-drilling-hits-109-gt-au-over-188-m-and-141-gt-au-over-84-m?e=9dec8f6bb8
MUX long
$FYI -Nickel Is Hot Right Now – The Nickel Boom May Have Just Begun
by Matt Bohlsen @sa Includes: ARRRF, BHP, GLCNF, IIDDY, NILSY, RNKLF, VALE, WNARF
Summary
Nickel prices have risen up over 50% in the past 3 months.
Indonesia announced they will ban nickel ore exports beginning 2020. Indonesia currently accounts for about 27-28% of global nickel ore supply.
Other sources of nickel supply appear somewhat constrained, while demand for nickel looks strong, especially boosted by EVs.
https://seekingalpha.com/article/4302579-nickel-hot-right-now-nickel-boom-may-just-begun
$FYI – Amur Minerals And Garibaldi Resources: 2 Mining Juniors To Benefit From A Nickel Boom As LME Inventories Fall Sharply
by Matt Bohlsen @sa – About: Garibaldi Resources Corp. (GGIFF), AMMCF, Includes: AMSLF, ARRRF, CTEQF, HNCKF, NILSY, PSDNF, RNKLF
Summary
LME inventory levels fell last week, the most in 40 years. Nickel price forecasts all see higher nickel prices in the next decade.
Two nickel juniors that can do very well if nickel prices spike higher.
Risk and reward are both higher when investing in junior miners.
https://seekingalpha.com/article/4303698-amur-minerals-garibaldi-resources-2-mining-juniors-benefit-nickel-boom-lme-inventories-fall
$GGI $ARRRF long
$NLPXF – Noble Mineral Exploration Has Huge Exploration Potential Using Several JV Partners
by Matt Bohlsen @sa
Summary
Noble Mineral Exploration plans to have 8-10 future JV partners all exploring on their massive 79,000 hectares of tenements just north of Timmins, Ontario, Canada.
The region is well known for large base metal and gold discoveries and mines. Noble has already found gold, nickel, cobalt, and PGMs.
By investing now in Noble Mineral Exploration investors will benefit from the upcoming Canadian Nickel IPO. Crawford is a new nickel sulphide discovery with large scale potential similar to Dumont.
https://seekingalpha.com/article/4307544-noble-mineral-exploration-huge-exploration-potential-using-several-jv-partners?isDirectRoadblock=true
NLPXF watching
$MUX – MCEWEN MINING ANNOUNCES PROPOSED PUBLIC OFFERING
https://mailchi.mp/mcewenmining/mcewen-mining-announces-proposed-public-offering?e=9dec8f6bb8
MUX long
$MUX – MCEWEN MINING ANNOUNCES PRICING OF US$50 MILLION PUBLIC OFFERING
https://mailchi.mp/mcewenmining/mcewen-mining-announces-pricing-of-us50-million-public-offering?e=9dec8f6bb8
MUX long
$MUX – MCEWEN MINING:GREY FOX IS GROWING
““The drill results reported today from Gibson and Whiskey Jack illustrate clearly the growth potential of the Black Fox property,“ said Sylvain Guerard, SVP Exploration.”
https://mailchi.mp/mcewenmining/mcewen-mining-grey-fox-is-growing?e=9dec8f6bb8
MUX long