Month: August 2020

CNBC/Jeff Cox/8-4-2020

“To achieve that goal, officials would pledge not to raise interest rates until both the inflation and employment targets are hit. With inflation now closer to 1% and the jobless rate higher than it’s been since the Great Depression,the likelihood is that the Fed could need years to hit its targets.”

USAGOLD note:  We’ve spent a lot of time talking about the negative real rate of return over the past several weeks as an inducement for higher gold prices.  Now, the Fed is signaling Wall Street that it will do everything in its power to insure there will not be a positive real rate of return on yield instruments for a long time to come.

With gold at another record, ETF analysts share ways to get in on the rally  CNBC

Analyst who correctly called $2000 gold now upgraded his forecast  Kitco NEWS

Powerful gold bulls eye $2100, and beyond  Kitco NEWS

Gold prices log fifth record in a row as bullion enters ‘euphoric phase’ of rally  MarketWatch

The dramatic ascent of precious metals markets this summer reflects what could be just the start of a longer-term decline and fall in the Federal Reserve Note’s value and status.

With gold prices surpassing $2,000/oz recently, the monetary metal has now made new all-time highs versus all the world’s major fiat currencies. Gold is, as former Federal Reserve chairman Alan Greenspan has acknowledged, the “ultimate money.”

The Fed, by contrast, is the ultimate inflator.

Fed officials won’t tolerate deflation (an increase in the purchasing power of the currency) – or even “no-flation” (in the form of a stable-value Federal Reserve Note).

In defiance of their statutory mandate to pursue “price stability,” Fed officials are waging a deliberate campaign to generate higher rates of price inflation.

According to a CNBC report, “In the next few months, the Federal Reserve will be solidifying a policy outline that would commit it to low rates for years as it pursues an agenda of higher inflation… in which inflation above the central bank’s usual 2% target would be tolerated and even desired.”

Meanwhile, the Fed continues to suppress interest rates across the yield curve. On Tuesday, the yield on the 10-year Treasury note fell to a record-low 0.52%.

A falling dollar (the U.S. Dollar Index in July suffered its biggest one-month decline since 2010) coupled with spiking precious metals prices and rising inflation expectations would normally send investors fleeing from bonds, forcing their yields up.

But these are not normal times.

“Not only have Treasury yields been historically low, they have been unusually stable,” notes Barron’s. “That would be consistent with ‘yield curve control,’ a method of pegging long-term borrowing costs. This has been among the policies under discussion by the Fed…”

It appears that “yield curve control” policy is already being implemented behind the scenes as part of the Fed’s bond buying operations.

The Fed is now the largest single institutional holder of U.S. Treasuries. Through the powers of self-dealing and an unlimited printing press, the Fed can manipulate the bond market like a puppeteer.

For how long can the central planners artificially sustain a bull market in bonds that is becoming increasingly divorced from market realities? At some point, interest rates will hit a final bottom.

Conventional wisdom used to be that 0% was the absolute floor. But in recent years, we’ve seen trillions of dollars’ worth of European cash and debt instruments carry negative yields.

There need not necessarily be any “zero lower bound” on rates on any part of the yield curve. However, even if U.S. rates never turn negative in nominal terms, they can go deeply negative in real terms – with no lower bound.

“There is nothing more bullish for gold and silver prices than steeply negative real interest rates.”

To illustrate, if benchmark bond yields hover around 0.5%, that nominally positive yield is actually negative (-1.5%) assuming a 2% inflation rate.

Fed policymakers can effectively cut rates by raising inflation.

And by the way, there is nothing more bullish for gold and silver prices than steeply negative real interest rates on fiat currencies.

Maintaining negative real interest rates – as opposed to negative nominal rates – is the path the Fed is on… not the path Europe took.

Europe’s negative interest rate policies are now widely viewed as having failed to achieve central bankers’ objectives of stimulating borrowing and economic activity.

Negative nominal rates sent the signal that an economic freeze was in place, so people continued to hunker down financially.

But pushing inflation rates higher gives the illusion of growth.

Though the real economy may be shrinking in the aftermath of coronavirus lockdowns, a stock market pumped up by Fed liquidity injections does stimulate paper wealth creation. In theory, that paper wealth might trickle down into actual consumer demand and job creation.

In reality, the Fed is transferring wealth to Wall Street and pain to Main Street.

Financial wealth will to some extent find its way into the real economy – in the form of higher price inflation. That’s what soaring precious metals markets seem to be telegraphing.

The Fed’s inflation-raising scheme is in many ways far more dangerous than negative interest rate policy.

Central bankers can manipulate interest rates with precision if they are careful. But they should not be so arrogant as to believe they can successfully manipulate inflation rates up to particular targets and keep them there.

Once the inflation genie is let out of the bottle – once consumers, businesses, and investors begin to act on expectations of higher rates of price increases – inflationary psychology can snowball faster than the Fed can issue policy statements.

Inflationary episodes like we saw the late 1970s – and like we’ve been seeing over the past four months – are characterized by extreme volatility amid dollar insecurity.

Holders of Federal Reserve Note dollars and dollar-denominated real negative-yielding IOUs are like sheep lining up to get slaughtered through purchasing power losses.

Those who want to survive the coming inflation must seek the protection of sound assets, including sound money – gold and silver.

Source: Maurice Jackson for Streetwise Reports   08/05/2020

Bob Moriarty of 321gold and Maurice Jackson of Proven and Probable discuss the effects of pandemic fears on markets, government and society, as well as the status of a number of gold and precious metals juniors, including one whose stock Moriarty expects will take off like a “rocket ship.”

Maurice Jackson: Joining us for a conversation is Bob Moriarty, a world-renowned best-selling author and Founder of 321gold and 321energy.com.

Bob Moriarty: Thank you. It’s good to be back, Maurice.

Maurice Jackson: Always an honor to have you join us on the program. We have several items to discuss, so let’s get started. Beginning in the United States, what are your thoughts on the prospect of postponing the election because of the coronavirus?

Bob Moriarty: Oh boy. When you went through training, did they ever teach you how to throw a hand grenade?

Maurice Jackson: No, sir.

Bob Moriarty: Okay. Are you familiar with the basics?

Maurice Jackson: Yes, sir. You pull the pin and throw it as soon as you can in the right direction.

Bob Moriarty: Okay. Now, you got it in exactly the right order, but what happens if you pull the pin and you don’t let go?

Maurice Jackson: Oh, that’s not a favorable outcome.

Bob Moriarty: That’s an unfavorable outcome. The protests in U.S. scare the hell out of me. Let me give you some numbers. Fifty-three million Americans have lost their jobs and applied for unemployment compensation. A lot of them were getting an extra $600 a week; that stops today. They were getting paid not to work, so they didn’t work. Now, many of those 53 million Americans are not going back to work, and that includes the travel industry, it includes the airlines, it includes hotels, it includes restaurants. When the dust finally settles, Americans are going to be shocked to see how much of a change has happened since March.

Now, then, when you have a country with 53 million people out of work and the government stops giving them free money and there are 395 million guns in the country and the deep state has been running a three-year coup against the President, what happens if the President says, “Well, we don’t need to vote, we got a President.”?

Maurice Jackson: Again, it’s not a favorable outcome. I believe that the losing party from the election is going to be a sore loser. What are your thoughts there?

Bob Moriarty: I don’t think there’s going to be an election.

Maurice Jackson: I’m shaking my head in disbelief. That’s something I never thought I’d hear coming from the United States.

Bob Moriarty: Well, yeah, but you can look around. I mean, the strange thing is, you’ve been interviewing me for years and nothing that is happening is a surprise to me. It’s something that I said was coming years ago. I was writing books four years ago saying we were going to have a worldwide revolution. None of this is a surprise.

However, the speed at which the country is decaying is shocking to me.

Now, let’s talk about Trump. I don’t like Trump. I think the man’s a narcissist. I think he’s a total jackass. However, we’ve had fools as Presidents before and we survived. The idea of the FBI and the DOJ (U.S. Department of Justice) selecting who the President should be, that is scary.

Now, somebody is paying for these rioters. I hear all kinds of rumors about George Soros and a good chance that it’s true. What’s going on is not an accident. It’s deliberate and it’s extremely dangerous. It’s something that Barbara and I saw coming 15 years ago and that’s why we left. I have been in riots before. They are not nearly as much fun as people suggest. I’ve seen some crazy things and Trump is feeding the fire. The Democrats are feeding the fire. Schiff is really funny. Schiff just came out and said the rumors of Antifa being behind the riots were total fiction. How stupid do these people think the American public is? You’ve got a lot of very angry people.

The whole COVID-19 thing is a total fraud. I sent you a document that we’re going to be posting tomorrow that’s bizarre and it shows that HCQ, the medicine, is not a cure but it’s something that relieves symptoms of COVID-19. It’s so bizarre. A group of a hundred doctors got together, made a video, said, “Hey, the HCQ thing is absolute nonsense. It’s political and is a cure for COVID-19.” They fired the woman doctor spokesman, and Facebook and Twitter and Netscape all banned them. Now, that’s scary. We’re into book burning. Wow, that’s scary.

Hugo Salinas Price, who I have a lot of time for, came out with a piece and the question was, “Is HCQ effective against coronavirus?” He didn’t come in and say, “Here’s my opinion;” what he did is he listed all of the countries who are reporting deaths by the percentage use of HCQ. The countries that used the drug had the lowest percentage of death and the countries that didn’t use the drugs had the highest percentage of death. That’s pretty scary. When you have so totally politicized everything in the system, the system’s going to break.

Now, you had sent me some stuff about that book, Common Sense 2.0, which is an amazing book. That where I got the number: 395 million guns in America. Our system is so corrupt that Judge Sullivan in the Mike Flynn case has decided he not only should be the judge, but he’s such a good judge he should be the prosecutor, the jury and the executioner. Now, I don’t care if you like Sullivan or not, I don’t care whether you like Flynn or not; when that happens to the society, the society is irretrievably broken and you need to fix it. The strange thing is, Common Sense 2.0 says there’s a simple solution.

Now, I’m going to ask you an interesting question. If you could do one thing to eliminate 99% of the crime in the United States, would you do it, first of all? Second of all, how would you do it?

Maurice Jackson: Well, the answer is yes. I think everyone would answer yes. Now, how would you do it? Well, that’s an answer no one seems to have, but I believe you have the solution for us.

Bob Moriarty: People have got a solution for it. What is 99% of the crime in the U.S.?

Maurice Jackson: What is it based on? Is that the question?

Bob Moriarty: What is the crime? Is it burglary? Is it rape? Is it murder? Is it cheating on your taxes? Is it cheating on your wife? If that’s true, Trump’s in trouble.

Maurice Jackson: Well, I don’t know what it is, but I would say that there’s a common tie and it’s financial.

Bob Moriarty: No.

Maurice Jackson: No?

Bob Moriarty: The answer is, drugs. You smoke a joint most states in the U.S., you just broke the law. Most crime in the United States, 99% of it, is drug-related.

Now, there’s a country in the world that does not have any drug crime. Got any idea who that is? Portugal! Here, it’s really funny. Most of the crime in the United States is drug-related—even the burglaries are drug-related, so to get the money to buy drugs. You can eliminate the whole thing overnight by decriminalizing drugs.

Now, then, which is worse, the crime or the solution? Law enforcement would say, “Oh my God, we can’t give people drugs.” Well, that’s bull. They get drugs already. Let me give you a number. Do you remember what year the 18th Amendment was overturned? When was Prohibition ended?

Maurice Jackson: The 1920s–30s. Am I way off here?

Bob Moriarty: Yeah, it’s 1933, after Roosevelt’s election.

Now, the interesting thing was when they eliminated Prohibition, violent crime dropped by 69% between 1933 and 1934. Therefore, was violent crime a function of alcohol use? Or was it a function of the Prohibition laws?

Maurice Jackson: The function of the Prohibition laws.

Bob Moriarty: Of course. All you had to do was change Prohibition laws. We need to wake up in the United States. We need to stop letting the government, letting [Dr. Anthony] Fauci, letting Bill Gates, letting all of these idiots rule us, put us into absolute slavery, treat us like idiots. Let’s go to Fauci for a minute. You remember when Fauci was talking about HCQ and he said, “Nobody’s done a clinical study on it and we need a clinical study if it’s going to be used against COVID-19”? Do you remember that?

Maurice Jackson: I recall that, yes.

Bob Moriarty: Okay, do you recall how long he said it would to take to test a drug that’s been around for 65 years, that costs $0.35 a pill—how long would it take to do a proper clinical study? Fifteen months. He said this back in March. It’s going to take 15 months to do a proper clinical study. Now, that solid drug that’s been around for 65 years, we know what [its] side effects are. We know everything negative about it. We know what the cost is. We know what the availability is.

Now, then, what [are] Bill Gates and Fauci pushing? He wants to vaccinate everybody, and Bill Gates has now come out and says, “Oh, by the way, since its RNA it’s going to take multiple vaccinations.” Somehow, it takes 15 months to study a drug that’s been around for 65 years and costs $0.35 a pill, but you’re going to be able to approve and test a drug that permanently alters the DNA of every cell in the body and you’re going to be able to do this in two or three months.

Now, there is a clinical word for that. You got any idea what it is?

Maurice Jackson: My clinical word for it is retardated.

Bob Moriarty: No. It’s bovine feces; that is absolute, candid bovine feces. There is no way, and anybody who takes multiple vaccinations that have only been tested for two or three months that permanently alters their DNA is an absolute idiot. [Alan] Dershowitz says, “You don’t have the right to refuse it.”

Really? I thought that’s what they made guns for.

Maurice Jackson: A lot of what you’re sharing, it kind of ties into, and you alluded to it earlier, it’s a book, Common Sense 2.0. I had the pleasure of interviewing David Smith from The Morgan Report, and we discussed this very time-sensitive book. Again, the title is Common Sense 2.0, in which the author goes by the pen name Thomas Paine, who, by the way, was the original author of Common Sense, written in 1776. It addresses the aforementioned with sound, practical solutions. Why should every American read Common Sense 2.0?

Bob Moriarty: It’s the only book that I’ve seen that lists not only what the problems are, but what the solutions are. Now, nobody loves a prophet. They want a savior.

Maurice Jackson: That kind of ties into our last discussion, where we talked about Cassandra. In my view, if you go back and look at any, or listen to any, of our interviews over the years—and I look back at the commentary, where people attempted to refute what you were sharing was going to happen—and when you look at today, I just wish they’d come back and say, “Hey, you know what? I was wrong and Bob was right.” But. . .

Bob Moriarty: Oh, they never do that.

Maurice Jackson: No, they never.

Bob Moriarty: In 2011, when I called the top in silver to the day, I got like hundreds of e-mails telling me how stupid I was. I sent them all the same response. I said, “You know, you might be right. I could be a hundred percent wrong, but here’s what you should do. Rather than tell me today that I said something wrong yesterday, why don’t you write to me in a month and point out how stupid I am?” Of course, none of them ever did. I’m still waiting to hear from these guys.

Maurice Jackson: Speaking of the call in 2011, you kind of made a similar one here recently, so let’s switch topics here and discuss gold and silver. Gold recently hit an all-time high, and Bob, you sent a warning shot to the market last week on a perfectly timed article entitled Never Confuse Brains with a Bull Market. That got the attention of a mutual friend that we have in Jayant Bhandari, and he wanted to find out, what compelled you to write this article?

Bob Moriarty: Oh, here’s the deal. Have you ever been to an ice hockey game?

Maurice Jackson: I never have.

Bob Moriarty: They’re kind of interesting. They’re fun. I go not because I understand ice hockey, because I don’t and I never will. I’m not a Canadian. You’ve gotta be a Canadian to understand it. I go to see fights, and unfortunately, the fights used to be a lot better than they are now. They’re not very good now. One of the long-time great hockey players said, “You don’t skate to the puck, you skate to where the puck is going.” I am not skating to the puck, I’m kind of figuring out where the puck’s going. I’ll give you a perfect example.

We’re doing this interview on Friday, and the U.S. dollar has been down 11 days in a row. Now, given that the odds on any particular day are 50-50 of it going up or going down, that’s like 2 to the 10th power. The odds are really against that, so the dollar’s going up today. It’s very predictable, and likewise, when silver spikes, it’s saying there’s got to be a correction. The strange thing is that I could give you the top 50 gurus in the silver market and they would rather commit adultery than use the word “correction.” They think that a correction is somehow spelled with four letters. I don’t think it is. I think it’s longer than that. It’s like six or eight or something like that. They just cannot admit or say there’s going to be a correction.

I wrote another piece—it’ll be out later today—and I said the price action in both gold and silver is schizophrenic. It doesn’t know which way to go. Now, I believe we’re going to go into hyperinflation. I believe gold and silver are going to go a lot higher, but I also understand that humans are imperfect. They get a little bullish sometimes, and you need to correct that bullishness. I think there’ll be a correction. I think we’re seeing signs. We’re certainly seeing signs of it in the gold and silver shares, but it’s a good thing. When it’s over, gold and silver and gold/silver shares are going far higher than anybody can imagine today.

Maurice Jackson: You know, not to contradict what you’re saying because I think we’re all in agreement that the gold price will be going higher, but your investment thesis has made your fortunes, and that’s why I love having you on the program. Share with us: If gold is at an all-time high, and we believe that it’s going to go higher, why aren’t you buying gold? What metals have your attention and why?

Bob Moriarty: Well, I listen to myself. You know, it is not a sign of insanity to talk to yourself. It is a sign of insanity to listen to yourself, but it’s not a sign of insanity to talk to yourself. I have the most interesting conversations and I’ve been saying for years, “You think things are getting bad? Well, you need to own some gold and silver, platinum and palladium.”

Back in March when everybody was panicking and, “Oh my God, the world is ending! Silver is below $12 an ounce!” I was thinking, “Oh, thank you, God. Thank you, thank you, thank you. I want to buy some more.” I bought a lot of silver—and you couldn’t buy physical silver because the premiums were too high, but you could buy a silver ETF [exchange-traded fund], which for all practical purposes was the same. I was pleased with that.

Maurice Jackson: How about platinum?

Bob Moriarty: I don’t know anything about platinum. Never mentioned platinum in my entire life and the mere fact that the ratio between platinum and gold is the worst it’s ever been in history. . .just kidding.

Platinum is cheap. Someday platinum’s going to go up, to the surprise of everybody, including me.

Maurice Jackson: I know everybody is asking this, so I’m going to go ahead and ask the question. Between the two, is there one that you favor a little bit more right now than the other?

Bob Moriarty: After silver corrects. Now, I’ve got somebody, and you would be a really good guy to help your customers, you have your thumb on the scale. You know exactly the times to buy and sell.

When everybody’s beating the doors down to buy, you don’t want to buy. That’s when you want to sell, and when the same guys who bought the metal at $25 or $26 an ounce are beating the doors down saying, “I need to get rid of this crap,” that’s when I look for them. There are some guys that I am very close to that store metal and I tell them, “Look, when guys call up and they want to sell stuff and you need to move it, I’m a buyer.” I think at $16—I can’t tell you exactly what the sequence was, but silver went below $12. It went up to about $16. It went down to $14.

This guy called me up and said, “Hey, somebody’s got a thousand-ounce bar of silver and he wants to sell for a .60 premium.” I said, “Damn. I’ll go for that. I bought it and the crazy thing is it’s not because I’m smart, it’s because you have access to better information than I do.

Maurice Jackson: Well, I share the investment thesis that you’ve shared with me over the years, using the ratios to your advantage and having that discipline, because that’s the keyword here that you haven’t referenced. I think we can read between the lines. It takes a lot of discipline to do what you’re doing, and having courage and conviction, because everyone seems to want to be a part of the crowd. As you’ve referenced in your books, you have to be an individual when it comes to investing, and that’s how you’ve made these spectacular gains. Again, thank you for sharing that investment thesis with us.

Bob Moriarty: Well, you don’t have to be an individual. You can be one of the guys giving money away. If you’re a bird or if you’re a lion or if you’re a water buffalo or if you’re a fish, you want to be with the rest of the school or the rest of the flock to be safe. But if you want to make money, you have to learn to think for yourself, first of all.

Strangely enough, if you could figure out what the mob’s doing, do the opposite. That sounds difficult but it’s so damn easy. I was looking at silver with a DSI [daily sentiment index] of 93 a week, 10 days ago, and said, “Hey, that’s getting frothy.” Sure enough, it was getting frothy.

Silver is an interesting metal because when it tops, it always does. It spikes up like a couple of dollars in a day, and it comes right back down. I’ll give you another thing that’s just as effective. With the metals market, the shares are either very liquid or they’re very illiquid. When you’re near a top, they’re very liquid. When you’re near a bottom, they’re very illiquid. I put in stupid orders way below the market, and I wait for the market to come down to me, and the market’s telling me, “Okay, it’s near the bottom.” Likewise, when you’ve got an extremely liquid market, that’s the time to take some money off the table.

Now, I don’t believe for a minute that I’m some kind of investing genius. I’ve done very well, but I’ve got access to a lot of information that the average investors don’t have. I am in touch with guys like Keith Barron and Quinton Hennigh constantly, and you can’t talk to them without learning a lot, so it’s not how smart I am, it’s how smart they are.

Quite bluntly, the last week or two, it’s been a great opportunity to take some money off the table. I’ve got three or four stocks that are up 400%, 500%, 600%! The one thing that I’ll say is, that’s going to be across the board fairly soon. I’m not talking about next week or next month. We’re going to have a bull market like nobody listening to this has ever seen before and that will make 1979 and 1980 look like a bunch of pussycats.

Maurice Jackson: Well, speaking of the junior mining companies, let’s start with companies that are affiliated with a very prominent and successful name, and that is none other than Dr. Quinton Hennigh.

Beginning with Novo Resources Corp. (NVO:TSX.V; NSRPF:OTCQX), and their expansive property bank, what can you share with us?

Bob Moriarty: Novo wants to do a deal on the Millennium Mill. Quinton has wanted to be in production for 10 years and one day it’s going to happen. I don’t know when. It will be an absolute game-changer. It is really difficult to do business in Australia and it takes a lot longer than it should do, but he’s on track. Novo is going to be the biggest gold company in the world 50 years from now.

Maurice Jackson: That’s a tall statement to make, but you’ve got the credentials to back you up.

Bob Moriarty: In the first article that I ever wrote, I said that Novo was going to be the game-changer that was going to wake up the market, and that stock was going to go up between ten- and a hundred-fold. I’m going to tell you, I nailed that and things have changed a lot since then, but I’ve been to the Pilbara, I don’t know, six times, seven times, and the gold’s there.

Maurice Jackson: Yeah, I’ve been there myself and the gold is there. And another place that you and I have been to is Irving Resources Inc. (IRV:CSE; IRVRF:OTCMKTS) in Japan. How about Irving Resources and the Omu Gold Project?

Bob Moriarty: Same thing. Keith Barron did a piece recently and he was talking about the 23-meter intercept. The pictures are on their website from the last press release. He said it’s the best-looking intercept he’s ever seen. You don’t have to believe Quinton Hennigh, you don’t have to believe me, and you don’t have to believe you, but it certainly would be worth listening to Keith Barron. He likes it and, again, because of the virus, things are a lot slower than they should be. But I think they’re going to come out with results soon, and I think they’ll be excellent.

Maurice Jackson: Akiko Levinson, the strategic moves she’s been making, they’ve been remarkable. I still think the market has not recognized the contributions that she’s made. It’s just been spectacular, so kudos to Akiko on her successes.

Bob Moriarty: The market does recognize it and there is something about the shares that everybody is missing. Keep in mind that 90% of the shares are in the hands of the top 10 shareholders. That is the tightest stock that I have ever seen. It’s a little tiny float and you talk about this company that’s got this $150–200 million market cap, and it trades 30,000 shares a day? Are you kidding me? When they hit big-time, that stock’s going to look like a rocket ship.

Maurice Jackson: It certainly is, and we’re proud shareholders of Irving Resources. How about let’s go to Fiji? Let’s talk about Lion One Metals Ltd. (LIO:TSX.V; LOMLF:OTCQX) and the Tavatu Gold Project. They’ve had some exciting news recently as well.

Bob Moriarty: Well, they hit exactly what Quinton Hennigh said. Here is what’s funny about Quinton, and virtually nobody understands this. You don’t need Quinton to come in and run your entire program for you. Lion One has some great geologists. Irving has some great geologists. Novo has some great geologists. You need somebody who understands the difference between you know what and shinola. Shinola is boot polish. It’s dark, but that’s what you use to shine shoes with. Quinton comes in and makes a tiny change in the direction that has an incredible impact.

Now, when I first talked to Lion One, they were talking about the project as being an epithermal alkaline system. That’s like talking about a Ford Chevrolet. Have you ever seen a Ford Chevrolet?

Maurice Jackson: I’ve never seen a Ford Chevrolet.

Bob Moriarty: Yep.

Maurice Jackson: Yeah, the two don’t go hand in hand.

Bob Moriarty: Well, it could, but you know why you’ve never seen one?

Maurice Jackson: Well, I guess in simple terms, it’s never been assembled as one.

Bob Moriarty: Well, because they don’t exist, okay?

Maurice Jackson: Yeah.

Bob Moriarty: An epithermal system is a hot spring. It has a very limited vertical dimension. Might be a hundred meters, might be 150 meters. Now, if you get into something like a mesothermal system, which is a hotter fluid system, it’s usually much deeper; they can be eight times as deep, say, as long. A epithermal thermal system has characteristics and mesothermal systems have characteristics and alkaline systems have characteristics, but Fords are Fords and Chevys are Chevys. You can’t have a Ford Chevy because there is no such thing. So the main key thing is they’ve over at Fiji. There is a mine like 20 miles away in a caldera where they’ve mined 7 million ounces. They’re down to 6,500 feet in the mine and they were talking about it being an epithermal alkaline system.

Well, you can’t have an epithermal system at 6,500 feet deep. There is no such thing. Quinton went in and he talked to Wally, who’s been banging his head keeping that thing going, moving it forward year after year after year after year. Quinton said, “Look, all you can do is drill deep. You’re just approaching this thing like it’s epithermal. Do not use the word ‘epithermal.’ It is not an epithermal system. It’s an alkaline system. Drill deep.” He drilled deep. He comes up with this incredible 0.3 meters of 1,310 gram gold, over one foot. Holy cow! You can take a blowtorch to that and make belt buckles.

Maurice Jackson: It’s astounding, You made some great analogies. LIO’s most recent published results, specifically just what that grade means for investors: Lion One Intercepts $80,078 Au.

Bob Moriarty: Well, it means $30,000 gold. If you had one cubic foot of that, it’s $30,000 a ton. Holy cow, you can’t lift the damn thing, but if you could lift it you’d be rich.

Maurice Jackson: How about NuLegacy Gold Corporation (NUG:TSX.V; NULGF:OTCQB) and the Red Hill Project?

Bob Moriarty: Funny thing is, the same story. Now, I didn’t know this but Albert Matter was one of our first customers. This is going back 19 years. He had that little tiny gold company called Alamos in Mexico. He came, pitched me, told me a story. I met him, said it sounds good. He advertised for a year or two and he ended up selling it out and making a ton of money. He’s a very sharp guy. He has some brilliant geologists out in Nevada.

Now, at the same time they started working in Nevada, he was actually in touch with Quinton, too, and Quinton said, “You know, you guys are focused on the east. You should go across the fault and you should focus on the west.”

Albert’s guys didn’t agree and they didn’t, so they’ve been tapping holes there for years and they’re getting lots and lots and lots of sniffs and they finally started drilling to the west, just like Quinton’s been saying for years, and they get the far better intercepts.

I believe they have the next major Carlin Trend deposit. I think the next six months is going to make a giant change. I think they’re waiting for some permits. I don’t think they can drill until September, but that’s been another situation that Quinton talking to them for a few hours has changed their thinking, and I believe it will be in a very positive way.

Maurice Jackson: Sticking with Nevada, one more company that is in the Dr. Quinton Hennigh portfolio, and that is NV Gold Corp. (NVX:TSX.V; NVGLF:OTC) with newly acquired Exodus Gold Project, which has Peter Ball as the CEO.

Bob Moriarty: Well, you ought to be talking about British Columbia. NV Gold—the NV stood for Nevada, and NV Gold had all of these Nevada projects and they’ve been tapping into these things for years. I cannot tell you how much money I have lost on NV Gold. I’ve participated in placement after placement after placement and it just never went anywhere. Peter came in a year or so back and he started looking at things differently. He’s moved the company forward and they’ve gone from like $0.10/share to $0.40-something in the last six weeks or two months. They not only are in Nevada. They got some good projects in Nevada, but they’ve picked up a project in British Columbia and I think they’ll do very well.

Maurice Jackson: How about another proven name and that is Greg Johnson? Of course, that name is synonymous with the Metallic Group of Companies.

Beginning with Metallic Minerals Corp. (MMG:TSX.V; MMNGF:OTCMKTS) and the Kino Silver Project, what can you share with us?

Bob Moriarty: Well, here’s what’s funny. Do you know how long I’ve known Greg Johnson?

Maurice Jackson: I think that goes back to the late ’90s, does it not, at Nova?

Bob Moriarty: Correct. NOVAGOLD Resources Inc. (NG:TSX; NG:NYSE.MKT) was the first company that I wrote about. Jay Taylor was the guy who discovered them and he was writing about them when they were $0.30 a share. The stock went down to $0.13 a share. I looked at it because they were generating $0.13 a share in earnings and the stock was $0.13 a share. I thought, “Well, that seems pretty damn cheap to me.” I wrote about them when they were a dollar a share and they doubled, and then I wrote about them six weeks later and they doubled again.

I’ve known Greg for the longest time. Greg has done something interesting. He hasn’t got any credit for it yet, but he supervises three different companies. Metallic Minerals is their silver company and it’s up in the Yukon. It’s going to be a silver play. I think it will be very effective.

Maurice Jackson: The Keno Silver Project is a brownfields adjacent to Alexco Resource Corp. (AXU:NYSE.MKT; AXR:TSX).

Bob Moriarty: How can you go wrong? You’re in a district that took out a billion ounces of silver. You ought to be able to find something.

Maurice Jackson: Well, with someone that’s proven. Then you go to Montana with Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE), what do you like about Group Ten and the Stillwater West Project?

Bob Moriarty: Group Ten has not gotten the appreciation that it should, which is insane. Palladium has been so much more valuable than I think it’s worth compared to platinum, and they’re right next to the Stillwater complex and they’ve got half of the deposit. I am shocked that that stock isn’t three or four times what it is now, but it’ll get there.

Maurice Jackson: To add to the opportunity, Group Ten Metals is finding rhodium. You’re referring to the Stillwater West, and Sibanye Gold Ltd. (SBGL:NYSE) purchased the Stillwater a couple of years ago for 2.2 billion. Again, they’re adjacent to the Stillwater, with the Stillwater West 25 kilometers and they’re finding rhodium as well, seven grams. Look at the price of rhodium. My goodness, it’s just quite remarkable.

Bob Moriarty: Let me tell you something. You want to get a nosebleed? Look at the difference between the bid and ask. I think I was looking at a week ago and it was $6,000 bid and $9,000 ask. I went, “Holy cow!”

Maurice Jackson: Well, there’s one more company in the Metallic Company, and that is Granite Creek Copper Ltd. (GCX:TSX.V), and they’re in the Minto Copper District there. What do you like about GCX and the Stu Copper Project?

Bob Moriarty: Copper.

Maurice Jackson: You got it. The interesting aspect of that is I think that we’re looking at oxide versus sulfide there, and that increases the value proposition. I think it was you that brought it to my attention. It must have been a year or so ago. You said, “Maurice, the world is going to consume more copper in the next 25 years than all of recorded history, so this is a company you got to take a look at.” I just want to step back for a second here. Granite Creek was $0.03/share back in May; they’re $0.10, $0.12, somewhere in there.

Going back to Metallic Minerals, they were $0.15 back in October of 2018, and they’re approaching $0.60 here.

Bob Moriarty: Yeah. There are some spectacular gains. I would highly suggest if people want to make money as opposed to indulging their fantasies, go to Amazon, spend a few bucks, buy my books. You don’t have to buy them because I say they’re good, read the damn reviews. Some people who read that book say they are the best financial books they have ever read. The books are excellent, they’re cheap, they will help you make money. All I did was take things that nobody else says, which shocks me, but they’re good books. If you read the books, you will make money.

Maurice Jackson: If I may, I would disagree. I don’t think they’re good books. I think they’re exceptional books. I don’t benefit financially from it, but ladies and gentlemen, I have benefited financially by reading and applying, and that is it. It has been life-changing. Hands down the best books on finance and I’m readaholic about finance. I can find none better than Bob’s books, and that’s why we always reference them. There is no financial gain for me by you purchasing—none—but if you read it and you apply, you’ll be smiling just like both of us are.

All right, we got one more name here and that’s another proven name. That is Tim Termeunde, and he has two companies that have your attention. How about Taiga Gold Corp. (TGC:CSE; TGGDF:OTCBB), which is a spinout of Eagle Plains Resources Ltd. (EPL:TSX.V)?

Bob Moriarty: Tim Termeunde is one of my favorite people. Barbara just loved him. She would have dumped me in a heartbeat if he was available. Tim’s a great guy. Eagle Plains is a prospect generator. It has never got the respect that it is due. They got a ton of good projects and they spun one of the best ones off into the gold project and I can’t pronounce it, either, but I own some and I’m a happy camper.

Maurice Jackson: The Fisher Project in Saskatchewan, that’s an interesting one.

We encourage readers to take a look at these names that we’ve referenced here today. They are truly unique value propositions. Yes, some of them have moved up tremendously, but in my view, you’ve got to have the discipline like Bob shared as know when to sell if you’ve taken action in the past, and then look for an opportunity to continue to add.

All right, in closing, sir, what keeps you up at night that we don’t know about?

Bob Moriarty: I’m not certain, but there is some kind of creature that climbs in trees and it climbs onto my roof. Since we don’t have lions and tigers here, I’m not particularly worried about it. I would love to know what it is, because I wish it would let me sleep. I wake up at 2 in the morning. I hear the damn scratching on the roof and I think, “I wish I had a gun.”

Maurice Jackson: Well, you know what? Could it be a goat? Don’t goats go into trees? I think goats climb trees, don’t they?

Bob Moriarty: No, I think you made that up.

Maurice Jackson: No, I didn’t think goats were able to climb trees because they don’t have claws, but they actually can (laughter).

Bob Moriarty: These are pretty tall trees. They would have to be damn parachutists to get on those.

Maurice Jackson: All right, last question, sir, and that is, what did I forget to ask?

Bob Moriarty: I don’t know. We’ll figure it out next time.

Maurice Jackson: Sounds good. Bob, for someone listening that wants to get more information about your books and your work, please share the website addresses.

Bob Moriarty: 321gold, 321energy, and amazon.com, and all they got to do is look up my name. They’re good books. People seem to like them.

Maurice Jackson: Well, I certainly do. All right. Well, till next time, sir, wishing you the absolute best.

Bob Moriarty: Okay. It’s good talking to you.

Maurice Jackson: Ladies and gentlemen, thank you for joining us today on Proven and Probable. As a reminder, I’m your licensed representative from Miles Franklin Precious Metals Investments, but we have several options to expand your precious metals portfolio, from physical delivery to offshore depositories and precious metal IRAs. Give me a call at (855) 505-1900, or you may e-mail maurice@milesfranklin.com.

Finally, please subscribe to Proven and Probable for mining insights and bullion sales. Subscription is free.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Lion One Metals, Novo Resources, Eagle Plains, Taiga Gold, Granite Creek Copper, Group Ten Metals, Metallic Group of Companies, Metallic Minerals, NuLegacy Gold, NV Gold and Irving Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Lion One Metals, Novo Resources, Eagle Plains, Taiga Gold, Granite Creek Copper, Group Ten Metals, Metallic Group of Companies, Metallic Minerals, NuLegacy Gold, NV Gold and Irving Resources are sponsors of Proven and Probable. Proven and Probable disclosures are listed below.
2) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Lion One Metals, Novo Resources, Eagle Plains, Taiga Gold, Granite Creek Copper, Group Ten Metals, Metallic Group of Companies, Metallic Minerals, NuLegacy Gold, NV Gold and Irving Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Lion One Metals, Novo Resources, Eagle Plains, Taiga Gold, Granite Creek Copper, Group Ten Metals, Metallic Group of Companies, Metallic Minerals, NuLegacy Gold, NV Gold and Irving Resources.
3) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Lion One Metals, Metallic Group of Companies, Metallic Minerals, Granite Creek Copper, Group Ten Metals, Irving Resources. Click here for important disclosures about sponsor fees.
4) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
5) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own shares of Metallic Minerals, Group Ten and Granite Creek Copper, companies mentioned in this article.

Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.

The Information presented in Proven and Probable is provided for educational and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this forum is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The Information on this forum and provided from or through this forum is general in nature and is not specific to you the User or anyone else. You should not make any decision, financial, investments, trading or otherwise, based on any of the information presented on this forum without undertaking independent due diligence and consultation with a professional broker or competent financial advisor. You understand that you are using any and all Information available on or through this forum at your own risk.

Images provided by the author.

( Companies Mentioned: EPL:TSX.V,
GCX:TSX.V,
PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE,
IRV:CSE; IRVRF:OTCMKTS,
LIO:TSX.V; LOMLF:OTCQX,

MMG:TSX.V; MMNGF:OTCMKTS,
NG:TSX; NG:NYSE.MKT,
NVO:TSX.V; NSRPF:OTCQX,
NUG:TSX.V; NULGF:OTCQB,
NVX:TSX.V; NVGLF:OTC,
TGC:CSE; TGGDF:OTCBB,
)

Source: Adrian Day for Streetwise Reports   08/05/2020

Money manager Adrian Day discusses developments at four disparate companies affected to varying degrees by the economic consequences of COVID-19, with two buys among them.

Vista Gold Corp. (VGZ:NYSE.MKT; VGZ:TSX, US$1.15) continues to raise non-dilutive funds by monetizing non-core assets as it focuses on and advances the Mt. Todd gold project in the Northern Territories, Australia. The company is in a financially strong position and appears poised for negotiations that make it “reasonable to think that by early next year we will have an agreement with a partner,” according to CEO Fred Earnest. Indeed, the company had a marketing trip to Asia planned for late February, but it was cancelled due to COVID-19-related travel restrictions throughout the region.

Now, with a higher gold price, the largest undeveloped gold property in Australia and one of the largest in the world, in a safe jurisdiction, must be attractive to many senior mining companies. Vista is not necessarily looking to sell the project outright but looking for any kind of partnership to maximize value for shareholders, including a financial partner to enable Vista to build the mine. (Vista has made clear it does not intend going it alone to raise the capital and build the mine.) The company is awaiting its final permit—the mine operating permit—with no apparent major obstacle, and it now expects to receive that in coming months.

Vista raises cash from various transactions
At today’s gold and Australian dollar prices, the mine has a NAV (net asset value) of over $2 billion, with a potential 20-year mine life. The stock, even after its recent run, has a market cap of less than $120 million, so there is an enormous gap, sufficient for an incoming partner to pay a hefty premium for a stake and still make money.

Currently with $6.3 million working capital, the cash has been bolstered recently by two recent payments: $2.4 million to cancel a portion of royalties on the Awak Mas project in Indonesia; and $1.5 million from an option payment on Guadalupe de los Reyes project in Mexico. At a run rate of about $6 million a year, this is sufficient for the next 12months.

In addition, over the next 12 moths, Vista is due to receive a final $2.1 million from Prime Mining Corp. (PRYM:TSX.V)on the de los Reyes project, and another $2.5 million to cancel remaining royalties on Awak Mas; in that latter payment is not made, Vista may then sell the royalty to a third party. Vista also owns very liquid shares in Midas Gold Corp. (MAX:TSX), valued at almost $5 million, and a used mill, potentially worth $8 million to $10 million. So, even without a sale on the mill, Vista is reasonably certain to have cash for the next two years of expenses. An “at-the-market” (ATM)program can top up cash as needed.

Exploration upside remains
Vista is also continuing exploration at Mt. Todd, after identifying two areas of interest adjacent to the central Batman pit. A modest program is planned to add a small number of ounces, which would potentially change the design of the mine; and to test the continuity of the deposit trending northeast. The drill program is budgeted to cost $430,000. Such a program can be important, because a potential buyer wants to know that there is exploration upside at the property.

Our last “buy” on Vista was in May at $0.80. With a change in the gold price and partner discussions moving to the next stage, Vista can be bought again.

Generative Explorer to Start Receiving Income

Lara Exploration Ltd. (LRA:TSX.V, 0.84) received two pieces of good news last week. First, the long-awaited start-up of the Celesta Copper Project (formerly Curionopolis) is underway, with first shipments early this month. Lara has a 5% carried interest plus a 2% royalty. In addition, it is owed a $800,000 on a US$1 million late penalty fee. The initial target has an indicated resource of 2.14 million tonnes. At an average grade of 4.2% copper, that equates to nearly 200 million pounds of copper. This is an indicated resource only, but that back-of-the-envelope shows the potential for Lara.

Separately, another Lara copper property, called “Lara,” has been sold to a Peruvian tin company currently building a nearby copper mine. The project was sold for staged payments of $5.75 million and a 1.5% royalty by a company of which Lara owns 45%.

Lara has a solid balance sheet, with low expenses and cash flow to start soon. It has multiple other projects in its portfolio, and remains a buy at the current level.

Is the 10% Yield Secure?

Gladstone Investment Corp. (GAIN:NASDAQ, 9.21), coming off one of its best years, reported that adjusted net investment income declined sharply in the second quarter, from $0.19 down to $0.11—not surprising given the economic lockdowns around the country. However, interest payments on its loans—its main recurring income—was “relatively steady,” with only one new company going on non-accrual due to the COVID-19-related shutdowns.

The company is “optimistic” it can move back toward $0.19 cents, by a combination of recovery in a couple of companies after the COVID-19 restrictions end, and income from some new investments. Indeed, immediately after the quarter ended, it made a new $47 million investment, which will generate income for the quarter. It also has undistributed investment income of about $0.20 per share, which can meet any shortfall in the dividend for the time being.

CEO David Gladstone said he was “not worried about the dividend this year.” However, since the quarterly dividend is $0.21—it was last increased at the beginning of the year—higher quarterly income is necessary over the longer term.

Although Gladstone is working with its portfolio companies, it has not needed to provide much additional financial support; a couple have received government PPE loans. It has the liquidity, having exited a few companies last year, and over $100 million is available on its line of credit.

Again, not surprisingly, as portfolio companies were marked down, the NAV declined to $10.87 from $11.17 at the end of March (and a record $12.40 at the end of the year).

Low valuations and high yield
We are positive on Gladstone—though, as the company emphasizes, the outlook is uncertain. No doubt the longer economic restrictions remain in place, the more some portfolio companies will be hurt. The stock is trading at 0.85xNAV and yielding just over 9%. This yield excludes the twice-annual special dividends paid from capital gains (unlike most business development companies, Gladstone takes significant equity interests in the companies to which it lends, accounting for about 30% of the portfolio currently). These special dividends have added almost two percentage points to the yield.

We are holding, but we would like a little more clarity on the economic outlook, or a lower price (better valuation) to be buyers again. We may get the opportunity in the not-too-distant future.

Slammed By Slowdown, Port Company Sees Recovery Ahead

Hutchison Port Holdings Trust (HPHT:Singapore, 0.108) reported a decline in revenues and cut its distribution again, as expected. Given the slowdown in the global economy and trade, as well as increased U.S.-China tensions, this was not a surprise. Revenues fell in the first half 12% from a year ago, on lower throughput. The distribution was cut to $0.043 (Hong Kong), down from $0.06 a year ago (and over $0.20 five years ago). The company has been consistently paying down debt from its capital expenditures even amid the business slowdown.

The company is expecting a gradual improvement as China’s factories resume operations, along with some easing of restrictions around the world. We would expect this year to remain weak, but there would be significant leverage to an opening up of the global economy and resumption of trade. Timing remains unknown, of course.

Hutchison is inexpensive. Even after the cut, the yield is over 10%. More significantly, perhaps, it is trading at less than 2x cash flow and only 0.28x book. We are holding, but would like more clarity on the global outlook or a lower price before buying.

Originally posted on Aug. 2, 2020.

Adrian Day, London-born and a graduate of the London School of Economics, heads the money management firm Adrian Day Asset Management, where he manages discretionary accounts in both global and resource areas. Day is also sub-adviser to the EuroPacific Gold Fund (EPGFX). His latest book is “Investing in Resources: How to Profit from the Outsized Potential and Avoid the Risks.”

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosure:
1) Adrian Day: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: Gladstone Investments, Lara Exploration. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Funds controlled by Adrian Day Asset Management hold shares of the following companies mentioned in this article: Vista Gold, Gladstone Investments, Lara Exploration and Hutchison Port Holdings Trust. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Vista Gold and Lara Exploration, companies mentioned in this article.

Adrian Day’s Global Analyst disclosures: Staff may have positions in securities discussed herein. Adrian Day is also President of Global Strategic Management (GSM), a registered investment advisor, and a separate company from this service. In his capacity as GSM president, Adrian Day may be buying or selling for clients securities recommended herein concurrently, before or after recommendations herein, and may be acting for clients in a manner contrary to recommendations herein. This is not a solicitation for GSM. Views herein are the editor’s opinion and not fact. All information is believed to be correct, but its accuracy cannot be guaranteed. The owner and editor are not responsible for errors and omissions. © 2020.

( Companies Mentioned: GAIN: NASDAQ,
HPHT:Singapore,
LRA:TSX.V,
VGZ:NYSE.MKT; VGZ:TSX,
)

The price of silver broke above $28 an ounce Thursday morning. In the last 30 days, silver has gone up by nearly 54%. On the year, the white metal is up over 71%. Even with these big gains, silver remains historically undervalued compared to gold. Even as gold has broken all-time records this week and […]

According to a recent CNBC report, the Federal Reserve is set to make a major commitment to “ramping up inflation.” According to the report, the Fed will pivot to “average inflation targeting.” With this strategy “inflation above the central bank’s usual 2% target would be tolerated and even desired.” Practically speaking, the Federal Reserve would […]