Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCQB; LLJA:FSE) announced it is continuing to intersect copper-gold mineralization with associated zinc-lead-silver in its drilling campaign at El Cura deposit in Spain. Find out what catalysts analysts are looking at for the company.
Emerita Resources Corp. (EMO:TSX.V; EMOTF:OTCQB; LLJA:FSE) announced it is continuing to intersect copper-gold mineralization with associated zinc-lead-silver in its drilling campaign at El Cura deposit, part of Emerita’s wholly owned Iberian Belt West (IBS) project in Spain.
IBW contains three identified Volcanogenic Massive Sulfide (VMS) deposits: La Romanera, El Cura, and La Infanta.
“These results demonstrate that El Cura remains open for further resource expansion with additional drilling,” Emerita President Joaquin Merino said. “We currently have four drilling rigs operating at El Cura, and we look forward to additional positive drill results as the drill campaign continues throughout 2025.”
According to Emerita, new drilling results from the campaign at El Cura include:
Hole EC050: 10.8 meters grading 4.8% copper (Cu), 1.4 grams per tonne gold (g/t Au), and 72.6 g/t silver (Ag).
Hole EC044: 4.9 meters grading 1.2% Cu, 0.9% Pb, 1.3% Zn, 1 g/t Au and 26.7 g/t Ag.
In March, Emerita announced an updated independent mineral resource estimate (MRE) for IBW reflects a 35% increase in total indicated mineral resource tonnage and a 44% increase in total inferred mineral resource tonnage compared to the previous estimate released in May 2023.
The updated MRE is based on 105,554 meters of drilling across 299 drill holes. The IBW project’s total indicated resource now stands at 18.96 million tonnes (Mt) with grades of 2.88% Zn, 1.42% Pb, 0.50% Cu, 66 g/t Ag, and 1.28 g/t Au (8.44% Zn Eq or 3.01% Cu Eq). The total inferred resource is reported at 6.8 Mt, grading 3.25% Zn, 1.5% Pb, 0.73% Cu, 56.3 g/t Ag, and 0.77 g/t Au (8.72% Zn Eq or 3.00% Cu Eq).
Analyst Cites Upcoming Catalysts
A March 17 report from Clarus Securities highlighted the substantial increase in the mineral resource with the total global resource growing by 37% to 25.77 million tonnes at 8.51% Zn Eq, adjusted for recoveries. Analyst Varun Arora noted that this increase exceeded expectations, particularly at the La Romanera deposit, which added more than 5 million tonnes while improving its Zn Eq grade to 7.85%, up from 7.49%.
“We were only expecting approximately 2 million tonnes in resource growth and are pleasantly surprised by the significant increase of 33%,” Arora stated. He attributed the expansion to step-out drilling that extended mineralization by 150–200 meters below the prior resource boundary, as well as improved metallurgical recovery assumptions, especially for gold.
The report also introduced a maiden mineral resource estimate for El Cura, which came in at 1.3 Mt, slightly below Clarus’ initial projection of 2 Mt. Arora explained that the lower estimate resulted from drill density constraints, noting that further infill drilling should add more tonnage. He described El Cura as a high-grade, copper-rich deposit with a copper equivalent (Cu Eq) grade of 3.16%, including a strong gold credit of 1.44 g/t. Looking ahead, Clarus projected continued resource growth at El Cura and La Romanera, estimating that El Cura’s resource could more than triple to approximately 4 Mt with further drilling.
Clarus maintained a Speculative Buy rating on the company and assigned a CA$3.15 target price, citing multiple upcoming catalysts. The firm identified key milestones, including an environmental certificate for IBW expected in the first half of 2025, continued drilling at El Cura and La Romanera, and a preliminary feasibility study (PFS) slated for late Q3 or early Q4. Arora emphasized that IBW’s permitting progress and metallurgical advancements positioned the project for long-term growth, reinforcing its potential as a significant asset in the Iberian Pyrite Belt.
Deposit Has ‘Excellent Potential to Grow’
The drill results released Tuesday focused on determining continuity of mineralization within the El Cura deposit to support conversion to mineral reserves in the upcoming National Instrument 43-101-compliant prefeasibility study and testing the continuation of the deposit both at shallower levels and where it remains open at depth, the company said.
“These results confirm good continuity of grade and width within the deposit,” the company said in the release. “By testing the shallower extents, Emerita has confirmed that El Cura remains open in all directions, particularly down plunge and to the west of drill holes EC046 and EC050. The deposit continues to have excellent potential to grow through additional drilling.”
Four drill rigs are on-site currently, testing El Cura in these open directions, Emerita said.
Copper to See Gradual Decline, Gold Continues to Smash Records
According to Reuters on April 15, Citi is forecasting a slower drop in copper prices over the next three months, noting that U.S. President Donald Trump relaxed tariffs, China bought on dips, and scrap supply remains tight due to U.S. stockpiling.
“All point to a more gradual copper price decline through 2Q’25 versus the deeper and faster investor sell-off we previously anticipated, with funds still positioned net bullish,” Citi added in a note, according to Reuters.
The investment bank raised its three-month copper forecast to US$8,800 per tonne after it had reduced the forecast to US$8,000 following the original tariff announcements. The bank estimated average copper prices of US$9,000 per tonne in the second quarter.
Gold’s attractiveness as a safe haven has continued to help it hit new record highs, however, as concerns about Trump’s intention to oust Federal Reserve Chair Jerome Powell weighed on investors.[OWNERSHIP_CHART-10036]
Gold rose to a new record of US$3,500.05 per troy ounce earlier Tuesday, according to Refinitiv data, and last traded at US$3,479.5 per troy ounce, CNN reported.
Gold has risen over 31% so far this year. It’s been one of the biggest winners as Trump advances his global tariff agenda.
It’s “driven by rising demand for safe-haven assets amid declining confidence in the U.S. dollar and escalating geopolitical and economic risk,” Rania Gule, senior market analyst at XS.com. wrote in a Tuesday research note, according to CNN. “In my view, this rally reflects ongoing recession fears in the U.S. economy and heightened political tensions.”
Ownership and Share Structure
According to Refinitiv, management and insiders own 5.32% of Emerita. Of those, Michael Lawrence Guy owns 1.45% of the company, David Patrick Gower owns 1.3%, and Joaquin Merino-Marquez owns 1.04%.
Institutions own 1.12% of the company, including Merk Investments LLC, with 0.99%.
According to Refinitiv, there are 263.52 million shares outstanding with 249.5 million free float traded shares, while the company has a market cap of CA$300.26 million and trades in a 52-week range of CA$0.38 and CA$2.00.
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Important Disclosures:
Emerita Resources Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any 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. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCQB) announced it has filed its first National Instrument 43-101 technical report for its flagship Hercules gold project in Nevada. Read why analysts are interested in this company’s exploration this year.
StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCQB) announced it has filed its first National Instrument 43-101 technical report for its flagship Hercules gold project in Nevada’s prolific Walker Lane.
The report includes a “drill-defined, bulk-tonnage exploration target prepared in accordance” with the 43-101 guidelines for Hercules that ranges between 819,000 ounces and 1.018 million ounces (Moz) gold (Au) within 40.3 million to 65.6 million tonnes of mineralized material at an estimated grade between 0.48 and 0.63 grams per tonne (g/t) Au, the company said.
“Since acquiring the Hercules gold project in September 2024 for CA$250,000, the company has begun rapidly advancing the project,” StrikePoint President and Chief Executive Officer Michael G. Allen said. “We have summarized the efforts of previous operators and established the exploration target. In addition, we were quick to mobilize for our initial drilling program with the goal of confirming and expanding the known mineralization at Hercules. Our initial campaign completed seven drill holes totaling approximately 1,400 meters with all samples currently in process and the results to be released shortly.”
StrikePoint announced the start of the infill and expansion drilling program, which is meant to build on the exploration target, in March.
That was when Jeff Clark of The Gold Advisor noted that he was looking forward to StrikePoint’s exploration plans for the year.
“Based on the prospectivity of Hercules, especially given this new exploration target report, I expect this project to receive the lion’s share of StrikePoint’s attention in 2025,” he wrote on March 6.
The company’s other Walker Lane project, Cuprite, covers 44 square kilometers and encompasses 574 unpatented claims.
*”Cuprite was off limits for exploitation up until relatively recently, and so by Walker Lane standards, it is relatively ‘virgin’ territory with big discovery potential,” Technical Analyst Clive Maund wrote in a recent contributor opinion.
Last year, StrikePoint completed a five-hole maiden drill program at Cuprite, which showed mineralization in four of the holes.
Maund described StrikePoint as a stock with big upside and very little downside.
AI to Guide Future Drilling at Project
The new technical report includes a drill-defined, bulk-tonnage exploration target prepared in accordance with the guidelines set forth in National Instrument 43-101, StrikePoint said. It establishes a baseline exploration target for the project.
“The quantity and grade are conceptual in nature as there has not been sufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource,” StrikePoint said in a release. “The exploration target expressed should not be misrepresented or misconstrued as an estimate of a mineral resource or mineral reserve. The exploration target model has not been evaluated for reasonable prospects of eventual economic extraction.”
Mineralization trends were evaluation with artificial intelligence (AI), which generated a computer model that will be used to guide future drilling at the project.
The exploration target used data from the Sirens, Hercules, Cliffs, Loaves, Lucky Rusty, Rattlesnakes, and Northeast showings on the Hercules gold project, an area with a total of 306 historical drill holes and 31,776 meters of core samples in the database, along with data for 121 surface trenches.
“Numerous targets remain untested, and the previous drilled showings remain open for further expansion and potential conversion to mineral resources,” StrikePoint said.
There were insufficient data in the database to provide silver grade estimates, the company said.
Seven holes have been drilled in the northern portion of the Hercules gold project testing the Hercules, Cliffs, and Loaves targets. All drill holes “visually returned alteration and silicification that are consistent with gold mineralization in previous drill campaigns” and samples are being analyzed and will be released as they become available.
The Catalyst: Could Gold Go Even Higher?
Uncertainty over the economic impact of U.S.-China trade tensions continued to spur heavy demand for safe-have gold on Monday, with the yellow metal surging above US$3,400 to a new record high as the dollar weakened.
Spot gold rose 2.6% to US$3,414.91 an ounce at 09:26 a.m. ET after hitting a record high of US$3,424.25 earlier in the session, according to Ashitha Shivaprasad and Daksh Grover writing for Reuters.
Gold is considered a hedge against uncertainties and is known to be a highly liquid asset. It has scaled multiple record highs and gained more than US$700 since the start of 2025. It surpassed US$3,300 last Wednesday and its strong momentum pushed it up by another US$100 in just a few days, Reuters reported.
“As tariff tensions continue to move at a fevered pitch, we continue to see gold prices move to the upside as a safe haven response,” said David Meger, director of metals trading at High Ridge Futures, according to the Reuters piece. “There’ll be pullbacks and profit-taking at times, but we still believe in the underlying trend to be on sideways to higher trajectory.”
Some predicted gold could go even higher. Garth Friesen wrote for Forbes on March 15 that DoubleLine Chief Executive Officer Jeffrey Gundlach said, “I think gold will make it to US$4,000. I’m not sure that’ll happen this year, but I feel like that’s the measured move anticipated by the long consolidation at around US$1,800 on gold.”[OWNERSHIP_CHART-209]
And according to an April 10 post on Goldfix, Goldman Sachs has revised raised the upper boundary of its forecast range for the end of the year to US$3,520 an ounce and even introduced a “tall-risk scenario” as high as US$4,500 an ounce.
“The revision stems primarily from upside surprises in ETF inflows and persistent, large-scale central bank gold purchases,” the article noted.
Ownership and Share Structure
According to Refinitiv, Executive Chairman Shawn Khunkhun owns 0.28% of the company, President and CEO Allen owns 1%, Director Ian Richard Harris owns 0.07%, and Director Adrian Wallace Fleming owns 0.02%.
Refinitiv reported that institutional and strategic investors own approximately 13.47% of the company, including 2176423 Ontario Ltd. with 7.17%, and Pathfinder Asset Management Ltd. with 4.81%.
According to Refinitiv, the company has 41.59 million shares outstanding and a market cap of CA$6.02 million. It trades in a 52-week range of CA$0.12 and CA$0.85.
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Important Disclosures:
StrikePoint Gold Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of StrikePoint Gold Inc.
Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any 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. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer.
Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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* Disclosure for the quote from the Clive Maund article published on December 13, 2024:
For the quoted article (published on December 13, 2024), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,500.
Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed
Clivemaund.com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.
Rick Mills of Ahead of the Herd once again interviews Bob Moriarty of 321Gold to review how current events may impact the markets and discuss two gold companies.
Below is an interview by Rick Mills, the editor and publisher of Ahead of the Herd, with Bob Moriarty of 321Gold.
Rick Mills (RM): Greetings Bob, wonderful to reconnect so quickly. Let me start by acknowledging our prescience. We conversed on the 8th, published on the 9th, and immediately afterward, events began validating numerous points we discussed.
Initially, there’s China reducing its American currency reserves, which is undeniably occurring, and strong indications suggest their involvement in what’s being called “Blink Wednesday” or “Donald Ducks” — Trump’s 90-day tariff postponement.
The debt securities marketplace is in complete disarray, with commentators now questioning whether American government notes and greenbacks remain reliable investments. These instruments have violently fluctuated, diminishing enthusiasm for American assets, creating murmurs about hedge fund position collapses, foreign investor withdrawals, and coordinated market vigilante maneuvers.
We discussed refinancing $7T of American obligations and identified it as a potential catastrophe looming. Given the current debt securities turmoil, our prediction appears increasingly accurate.
Our assessment about sustenance cost increases proved correct. There’s a fascinating analysis by Wolf Richter on WolfStreet.com: “worst food inflation since ’22, worst housing inflation in months, but plunging prices for lodging, rental cars and air fares are interesting and what happened was the consumer price index, the month to month inflation accelerated further for housing, food, medical care services and motor vehicle maintenance repair. They’re showing the worst increases in months and in the case of food for years, but inflation went down because those price increases were overpowered by plunging gasoline prices and by plunging prices in the travel sector, I mean you’re looking at annualized year to year drops of 28% and 48%, and that’s what brought the inflation rate down.”
Currently, media personalities claim Trump lowered inflation rates, but Wolf’s analysis paints a troubling economic portrait. It’s genuinely one of the bleakest economic scenarios imaginable, concealed by decreasing inflation numbers — which declined because travel ceased, fuel purchases dropped, and petroleum costs plummeted. Something significant is transpiring that few recognize.
We also mentioned agricultural producers’ impending difficulties. American farmers are currently planting soybeans and are justifiably concerned because, as we predicted, China announced yesterday a substantial early acquisition of Brazilian soybeans. China is also securing additional Spanish pork agreements.
None of these developments bodes well for agricultural exports since soybeans constitute America’s largest agricultural export and China represents the primary purchaser. (U.S. top three exports in the agricultural sector: Soybeans: $27.37 billion. Corn: $18.72 billion. Beef: $10.58 billion. Largest three Importers of U.S. Agricultural Products China: $28,750,288,000. Canada: $25,414,534,000. Mexico: $18,962,080,000.).
One Week Gold Chart: Trading Economics
Additionally, when we discussed precious metals, prices surged again, establishing another historical peak before breaking through that benchmark. Today prices continue soaring, but particularly impressive was our “baby out with the bathwater” discussion. Examining the charts for companies we mentioned — Harvest Gold Corp. (HVG:TSX.V), Sitka Gold Corp. (SIG:TSXV; SITKF:OTCQB; 1RF:FSE),Silver47 Exploration Corp. (AGA:TSX.V; AAGAF:OTCQB),Trifecta Gold Ltd. (TG:TSX.V:TRRFF:OTCQB), and Banyan Gold Corp. (BYN:TSX.V)— we essentially identified the lowest point.
Trading volume was impressive, and most stocks rose nicely except one. Bob, we deserve acknowledgment. If we’re not careful, people might begin thinking two seasoned gentlemen might possess some wisdom.
Bob Moriarty (BM): They’d never go that far.
RM: You don’t think we risk being recognized as occasionally accurate?
BM: We’ve barely begun. I enlisted in the marine corps in 1964, entered flight training, received my wings, and flew fighters. I deployed to Vietnam in 1968, and noticed we weren’t funding the conflict.
The war was costly yet the American government wasn’t covering expenses—there was a 10% income tax surcharge, nothing more. Interestingly, gold was priced at $35 an ounce, nobody mentioned dollar depreciation, and I thought I might acquire some gold. So literally, I invested in gold during 1968 very modestly but completely correctly.
Do you comprehend how much gold has appreciated these past three days?
RM: Gold has increased several hundred dollars. Consider how much the dollar has depreciated against other currencies, so yes, gold has been performing magnificently, as expected during such turmoil.
Trading Economics
BM: Indeed, it’s a massive warning sign. When gold increases more than $300 in three days — I believe I commented that you wouldn’t want to inhabit a world with $5,000 gold, though everyone disagrees because they desire gold appreciation. However, for gold to climb, global systems must collapse. One crucial topic we should address — are you familiar with the Treasury Basis Trade?
RM: Please elaborate for readers who might be unfamiliar.
BM: Certainly, investment funds trade instruments offering modest returns but minimal risk, so they’ll trade various Treasury maturities against each other, or different monthly contracts, representing an enormous market.
They borrow Japanese currency then invest in these minimal-risk positions. Well, this basis trading strategy is imploding, and the Federal Reserve will need to intervene, probably this weekend. The global financial infrastructure stands on the brink of collapse.
RM: I concur. International investors are retreating from American holdings, seeking European stability instead. Compared to America, German yields remain steady while American 10-year obligations jumped over 40 points — likely the greatest underperformance of Treasuries versus German bunds since ’89. Such conditions simply cannot persist while expecting normal operations; breakdowns become inevitable.
You mentioned previously that America would engage militarily with Iran within weeks. Today’s news indicates Iran is establishing parameters for discussions with America, superficially suggesting genuine negotiation efforts, but I’m skeptical about both parties’ sincerity.
Let me strategize hypothetically.
Suppose American-Iranian talks collapse and America with Israel commence bombing Iranian nuclear facilities.
The Middle East will erupt dramatically. Iranian proxies will become intensely active. Hezbollah maintains over 100,000 rockets. Houthis, characterized by their unyielding determination, will launch everything available at American naval forces.
We’ll witness a reconstituted, well-equipped, better-organized Hamas. Iran controls numerous additional proxy organizations throughout the region and operates a network of agents and supporters worldwide. All will commit aggressive and terrorist acts, religious leaders will issue holy war declarations, regional conflagration will spread globally.
Israel faces complete siege; constant bombardment intensifies. Israel and Turkey, confronting each other in Syria, escalate to military exchanges.
Russia grows emboldened, launching fresh Ukrainian offensives. Chinese and North Korean citizens now fight alongside Russian forces, which no longer employ criminals or mercenaries.
Instead, Russia deploys elite divisions — frontline personnel with cutting-edge equipment — overwhelming undersupplied Ukrainian forces while rapidly advancing.
China needn’t invade Taiwan but could blockade it, interrupting $2.5 trillion in South China Sea commerce and specialized semiconductor exports. Taiwan survives merely six months without external support — lacking energy resources and sufficient food production — before capitulation becomes necessary.
China has conducted live blockade exercises and purged leadership ranks — typical pre-conflict preparations, eliminating conservative veterans while promoting junior commanders: warfighters, zealous younger energetic leaders.
Now imagine three simultaneous conflict zones: Middle East, Taiwan, and Ukraine. My question, Bob: If appointed Joint Chiefs chairman with Trump requesting strategic options, what capabilities assessment would you present regarding American military capacity across these scenarios?
BM: Let me briefly digress with relevant context. Does Trump covet the Nobel Peace Prize?
RM: He deeply envied Obama.
BM: Curiously, remember how briefly Obama held office before receiving his Nobel nomination? 17 days. Obama occupied the presidency merely 17 days before Nobel prize selection. What message was the Nobel committee conveying?
RM: To me, receiving it after just 17 days renders it practically worthless.
BM: Absolutely correct, but Bush initiated numerous global conflicts, and the Nobel committee essentially said this individual has governed 17 days without starting wars, deserving recognition.
RM: He occupied office 17 days without initiating conflicts, earning a Nobel Peace Prize? Perfect — would you receive two after a full month?
BM: Precisely. Trump recognizes this — he’s self-important and genuinely desires the Nobel Peace Prize. Now, can one practice genocide while simultaneously receiving the Nobel Peace Prize? There are two actions he could take to secure it. Would you like to know them?
RM: Definitely.
BM: First, he contacts Netanyahu saying, “We’ve terminated your unlimited American financial support. We’re ceasing payment for this pointless conflict. Withdraw your forces; the war ends.” Netanyahu would comply immediately, having no alternatives.
This isn’t Israel versus Hamas, Hezbollah, or Houthis — it’s America versus these groups. Trump could terminate hostilities within 24 hours.
That’s half the Nobel qualification — what’s the remainder? He contacts Zelensky saying, “Hostilities cease immediately. You have 24 hours to depart Kiev for any destination. This conflict ends now.”
Amazingly, nobody recognizes that Middle Eastern turmoil stems from American involvement, while Russian-Ukrainian hostilities similarly originate from American actions. Trump merely needs to withdraw support.
RM: He hasn’t done so despite having opportunities, suggesting reluctance. Why?
BM: He’s controlled by Israel, demonstrably. Recall that New York trial where he allegedly exaggerated income and assets? Remember that civil proceeding?
RM: Yes, he was convicted of approximately 34 fraud charges.
BM: Consider this remarkable situation: The judge mandated full payment of penalties before appeal rights. Remember, the entire case concerned Trump’s finances — the judge knew precisely Trump’s financial position.
Trump lacked $450 million for court payments enabling appeals. This case represents perhaps the most egregious example of politically-motivated prosecution I’ve encountered — makes canceling Romanian elections seem trivial.
I appreciate certain Trump policies but dislike New York’s corrupted legal system. When the judge demanded immediate payment, where did Trump secure funds?
RM: Perhaps Russia?
BM: Not Russia—a Jewish billionaire. Netanyahu essentially controls Trump. Now regarding Iran’s supposedly unreasonable demands.
RM: I mentioned numerous conditions including American non-starters.
BM: Essentially, American demands require Iran surrendering all defensive capabilities — literally permitting American military forces entry to destroy defensive systems.
Iran will never accept such terms — absolutely impossible. Trump appears to be constructing narratives forcing Iranian rejection, justifying subsequent attacks.
Note some subtle indicators: Six B2 bombers plus support aircraft stationed at Diego Garcia. This relatively compact base requires advance parking reservations months ahead.
America has reserved these spaces only until May 1st. Whatever America intends must occur before April concludes.
RM: Returning to my question: As Joint Chiefs chairman, what capability assessment would you present regarding American armed forces?
BM: Simply put: How many Ukrainian battles has America won during three years? Zero. What chances exist for American/NATO success against Russia? None.
Regarding Israeli/American strikes against Iran: I’ll assert seniority here — I piloted fighters at age 20. Then, the F-4 represented perhaps the world’s premier fighter. I was globally the youngest fighter pilot, completing 125 Vietnamese missions in F-4s — approximately 95% ground attack rather than air superiority — plus another 700 missions in observation aircraft coordinating airstrikes, naval gunfire, and artillery. Combining any 10 warfare/aviation experts, my knowledge exceeds their collective expertise.
I recognize nuances few others perceive. During the second Israeli/American attack on Iran, they deployed aircraft waves including Israeli and American F-35s — the world’s most advanced stealth fighters preparing to penetrate Iranian airspace. Approximately 200 kilometers from Iranian borders, suddenly they appeared on radar. These pilots realized, “They can see us,” contradicting stealth expectations.
Trump’s best option — and indeed American military leadership’s wisest counsel — would be surrender recommendations. If America attacks Iran, expect something resembling the Marianas Turkey Shoot—the final major carrier engagement featuring hundreds of downed Japanese aircraft.
RM: The Battle of the Philippine Sea, nicknamed the Great Marianas Turkey Shoot. Who represents the “turkeys” this occasion?
BM: Isreal.
RM: American naval forces should avoid Chinese waters, maintaining 500-kilometer distances because sequential missile waves would overwhelm defensive capabilities, resulting in destruction.
Regarding Ukraine, we’ve observed Trump’s treatment of Zelensky, NATO, and European Union members. NATO, Ukraine, and EU stand isolated.
Let’s discuss why initiating Chinese trade conflicts remains foolish.
As a combat veteran, military engagements consume extraordinary quantities of munitions and equipment; continuous fighting depletes stockpiles rapidly. Units receive allocated supplies, with prepositioned equipment distributed globally and domestic reserves.
How quickly would American military exhaust smart missile and bomb inventories, plus semiconductor components essential for warfare technologies?
BM: The insanity lies in America repeating Israel’s mistakes. Their arrogance suggests unlimited capabilities. In purely conventional warfare scenarios, America would deplete everything within two to three months — completely emptying warehouses.
RM: Would strategic planning change, arrogance diminish, or would fabrications and denials escalate if I revealed replenishment impossibility?
If I explained how restricting American access to rare earth elements effectively cripples military capabilities — that current stockpiles, once depleted, remain irreplaceable?
BM: They’d dismiss such warnings, but you’ve identified the critical vulnerability. This explains why American current trajectory remains so dangerous.
American arrogance guarantees defeat. I cannot fathom challenging China, yet Trump’s entire administration advocates precisely that. Trump attempts maintaining American global economic dominance but has instead demolished international economic structures.
RM: Fundamentally, American military cannot risk engagement presently. Conflicts with Iran, China, Russia — essentially anyone except Panama or Greenland — would consume semiconductor and rare earth stockpiles, leaving America precariously vulnerable.
BM: Completely accurate— America would become defenseless.
Everyone suggests Russia intends attacking European Union nations. Russia harbors no such intentions — what benefit would they derive?
This represents warfare between Western debt-based systems versus Eastern resource-based systems. Western powers refuse acknowledging defeat.
RM: I perceive American myopic focus on China while being manipulated into unwinnable conflicts because China controls essential rare earth supplies.
Without rare earths, stealth technology becomes impossible. Without rare earths, engine turbine blades overheat and melt, computers become inoperable without necessary chips and elements. Missiles lose precision, standoff capabilities, and guided munitions features. That’s merely sampling what rare earths enable in single weapons platforms like F-35s.
Rare earth applications permeate throughout modern military systems, integrated within all high-technology equipment. Without Chinese resupply, modern warfare becomes impossible.
BM: Every electronic component incorporates rare earths. China supplies nearly 85% of American rare earth requirements and derivative technologies. Trump’s actions demonstrate astounding foolishness.
RM: Bond markets communicate clearly — they demonstrate greater intelligence than equity markets, revealing underlying problems.
BM: Beyond intelligence comparisons, they’re eight times larger than stock markets.
RM: People increasingly recognize potential global financial catastrophe if bond markets continue deteriorating. If presidential temperament fails over perceived insults, what remains afterward?
BM: Completely correct —10-year notes exceed 4.5% yields while 30-year instruments approach 5%. These conditions spell disaster. Previously I described gold as global financial system thermometers indicating potential conflicts. Gold appreciating $300+ within three days signals catastrophe.
RM: Indeed, we’ve long maintained we wouldn’t want inhabiting worlds with $5,000 gold prices, understanding conditions creating such valuations. We appear well-positioned toward that destination, friend.
BM: Let me emphasize something crucial. During 1929, average investors accessed information. Today, how much additional information becomes available to typical investors?
RM: I’d suggest greater quantities exist, but quality suffers — most represents pure nonsense. Supposedly 85% of statistics materialize spontaneously. Information abundance creates overload, mostly incorrect. During 1929, perhaps superior circumstances prevailed because available information remained trustworthy.
BM: They received information via radio and newspapers twice daily. We access 1,000-fold more information, and while substantial misinformation exists, genuinely valuable information abounds too. Several years hence, we’ll recognize our initial interview demonstrated remarkable accuracy and candor.
RM: Current events will likely unfold as predicted despite our preferences. Reviewing daily developments, I’ve never witnessed comparable situations. Having invested 24 years — beginning with junior resource sectors and starting Ahead of the Herd simultaneously with you and your wife launching 321Gold.
We’ve reached this juncture, transitioning from technology bull markets through commodity bull markets centered around China. We’ve witnessed tremendous transformation during recent decades: repeated collapses, numerous recoveries. You might describe us as battle-hardened market veterans experiencing everything between extremes, recalling dramatic challenges, chaotic periods, and prosperous seasons throughout these years.
Surely we’ve gained insights from these experiences, making our accurate assessments unsurprising during conversations.
BM: It frightens me because transformation rates exceed anything previously encountered or studied. Quinton Hennigh represents my closest colleague; we constantly discuss investments and pursue ongoing projects. When gold appreciates $100+ daily, that’s extraordinary — gold doesn’t typically fluctuate 3% daily yet has moved 9% across three days — both amazing and terrifying.
RM: Both amazing and terrifying indeed.
Today we’re discussing two gold companies. You wanted examining New Found Gold Corp. (NFG:TSX.V; NFGC:NYSE.American), which released resource estimates causing selloffs. What’s your perspective regarding New Found Gold, Bob?
BM: Excellent question since I appreciate that story. Would you accept that Qualified Person resource estimates involve considerable interpretive elements? Different QPs can produce entirely different calculations. Historically mining enterprises would select preferred QPs, and during past 25 years numerous 43-101 reports appeared clearly unreliable.
RM: Resource estimates can reflect varying conservatism levels.
BM: Practical considerations emerge — imagine encountering high-grade sections measuring 75 grams across 3 meters. Using those precise measurements guarantees inaccuracy because analysts halve drill cores, sampling 3-meter sections where gold distributes unevenly between halves, requiring maximum value limitations.
Instead of reporting 75 grams across 3 meters, they might cap values at 8-10 grams across 3 meters. Advantageously, with numerous nugget-rich high-grade deposits subject to capping, actual production typically yields higher grades than resource indications.
Every QP maintains certain biases, which company executives recognize. Seeking exceptionally conservative 43-101 reports, instead of reporting 10 grams, they might report 5 grams.
I believe New Found Gold management excessively capped values deliberately producing exactly 2 million ounces. Examining hundreds of high-grade intersections, you’d question how they measured merely 2 million gold ounces.
They necessarily possess greater quantities. Indeed, I consider their 43-101 exceptionally — deliberately — conservative, offering investors tremendous acquisition opportunities for quality enterprises at reduced prices. Consider additionally:
When New Found Gold acquired Labrador Gold’s project, they exchanged approximately 5.2 million shares, which Labrador Gold subsequently liquidated throughout recent months. Consequently, excessive share supply combined with extraordinarily conservative 43-101 reporting artificially suppressed valuations.
Without Labrador Gold releasing those 5 million shares, New Found Gold might command substantially higher valuations — perhaps two or three times current levels. Essentially, both New Found Gold management decisions and Labrador Gold management actions have artificially depressed New Found Gold prices.
New Found Gold represents deposits resembling Fosterville, which transformed Kirkland Lake from $3 billion enterprise into $18 billion corporation—New Found Gold possesses identical potential.
RM: Let me discuss Storm Exploration (STRM:TSX.V).When acquiring companies featuring competent management, excellent properties containing existing gold deposits, priced at pennies — CA$0.03 — with micro-market capitalizations of CA$2 million, trading below shell values, and financing imminent exploration programs like this summer’s drilling, with reasonable success probabilities targeting previously explored areas showing decent grades and intersections — that describes STRM perfectly.
Examining Storm Exploration, they’ve identified gold within banded iron formations across Miminiska-Fort Hope Greenstone Belt. They’ve confirmed high-grade gold zones separated by 14 kilometers — Frond eastward and Miminiska westward — with central gold showings scheduled for summer drilling.
Bruce Counts serves as CEO with John Williamson participating, combining quality advisors and management experienced with gold in banded iron formations. I appreciate this project—14 kilometers containing potentially mineralized gold zones, favorable share distribution, strong ownership, available at $0.03 with $2 million market capitalization.
BM: How much further could valuations decline? Annual operational costs approach $1,000,000. We’re approaching circumstances — and I monitor sentiment — where average investors completely miss resource stock opportunities. Consider current gold stocks.
With gold approaching $3,300, nearly all deposits become economically viable. Nobody incorporates these factors into market valuations. Current gold resource stock prices relative to gold prices represent 45-year lows, conditions that cannot persist indefinitely.
RM: Certainly not, which underlies my emphasis on encouraging investor attention toward our discussions. Where does junior resource company value exist?
Examining companies like Storm, I evaluate market capitalization growth potential — could values multiply 3-5 times following successful exploration programs?
Today’s greatest investment opportunities involve acquiring penny-level juniors financing imminent drilling programs. That’s where value exists, where I prefer investing. Single promising discoveries from microscopic market capitalization enterprises yield what consequences?
BM: Let’s calculate mathematically. With Storm’s $2,000,000 market capitalization, what’s the minimum possible valuation?
RM: Probably won’t decline further.
BM: Theoretically, values could reach zero. Following positive results, what maximum valuations become possible?
RM: With $2 million market capitalization potentially reaching $8-10 million post-financing following successful exploration amidst favorable precious metals environments, such projections seem reasonable.
Let’s conclude here. Thank you, Bob.
BM: Let’s reconnect soon.
You can view more from Rick and Bob at Ahead of the Herd and 321Gold.
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Important Disclosures:
Silver47 Exploration Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Snowline Gold Corp. and Silver47 Exploration Corp.
Rick Mills: I, or members of my immediate household or family, own securities of: Harvest Gold. My company has a financial relationship with Harvest Gold and Silver47 Exploration Corp. I determined which companies would be included in this article based on my research and understanding of the sector.
Bob Moriarty: I, or members of my immediate household or family, own securities of: Sitka, Trifecta, Harvest and Silver47. My company has a financial relationship with Harvest Gold, Trifecta Gold, and Silver47 Exploration Corp. I determined which companies would be included in this article based on my research and understanding of the sector.
Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. 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. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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Prosper Gold Corp. (TSVX: PGX; OTCQB: PGXFF) announced it completed more than 1,600 meters of drilling and 16 line kilometers of induced polarization (IP) surveying last winter at its Cyprus copper-gold project. Read why one analyst recommends buying the stock right now.
Prosper Gold Corp. (TSVX: PGX; OTCQB: PGXFF) announced it completed more than 1,600 meters of drilling and 16 line kilometers of induced polarization (IP) surveying last winter at its Cyprus copper-gold project in north-central British Columbia.
Three holes totaling 1,602 meters were drilled at Target A on the project. The company said all of the holes intersected “quartz-sericite-pyrite (phyllic) alteration, porphyritic intrusions, hydrothermal breccias, and intermittent pyrite mineralization.”
The IP survey outlined a 2- by 1.2-kilometer “high chargeability anomaly” 1.2 kilometers southwest of the nearest drill hole, where follow-up drilling is planned for this summer.
“The maiden drill program at Cyprus was designed to target coincident magnetic and conductivity anomalies outlined from our 2024 property-wide ZTEM survey,” said Chief Executive Officer Peter Bernier. “The drill core and the recent IP results indicate that we drilled the margin of a hydrothermal system. We are very excited that the next phase of drilling will utilize all the data we have acquired to more effectively target this covered porphyry system.”
The Cyprus Project is a district-scale porphyry copper-gold project with several historically defined copper ± gold porphyry prospects and significant historical drill results, including 138.2 meters at 0.55% copper (Cu), Vancouver-based Prosper has said.
The results from the winter drilling and recent funding with Bernier increasing his stake in the company to 15.7%, a clear vote of confidence for Prosper, are possible catalysts for the company, Technical Analyst Clive Maund noted on Tuesday, writing that the stock is “an Immediate Strong Buy for all time horizons.”*
“On the three-year chart we can see how the bear market continued over the past several years but decelerated to the point that it looks like it hit a final low last December and with upside volume improving this year and volume indicators tentatively climbing it looks like the price has just made a Double Bottom with the December low, following the latest dip, a view that is certainly reinforced by the big trade last week that caused the Accumulation line to spike,” Maund wrote.
Drill Holes Intersected System With Porphyry Potential
In a release, Prosper announced that initial drilling at Target A targeted “coincident magnetic low and conductivity high anomalies outlined in the company’s summer 2024 ZTEM (z-axis tipper electromagnetic) airborne survey.”
After that, the deep-penetrating IP survey outlined the distribution of disseminated sulfides within the hydrothermal system. IP results, along with alteration, lithology, and pyrite mineralization observed in drill cores suggest the northeastern margin of the system was drilled.
Technical Analyst Clive Maund wrote that the stock is “an Immediate Strong Buy for all time horizons.”
“The survey results indicated the vast majority of disseminated sulfides occur 1.2 kilometers to the southwest of the nearest drill hole,” Prosper said.
The three holes intersected variable amounts of quartz-sericite-pyrite (phyllic) alteration spatially associated with porphyritic intrusions, the company said.
“The presence of hydrothermal breccias, fracture-fill and disseminated pyrite mineralization and sericitic alteration suggest the drill holes intersected the periphery of a hydrothermal magmatic system that has the potential to host a porphyry copper deposit,” Prosper noted.
The company said follow-up drilling is scheduled for early summer 2025.
‘Extraordinary Upside Potential’
Cyprus is a porphyry copper-gold project comprising 623 square kilometers of contiguous claims in part of an Eocene porphyry belt. It is on trend with American Eagle Gold Corp.’s (AE:TSXV; AMEGF:OTCQB) NAK Project, 60 kilometers to the south in the same metallogenic belt.
It includes the historical Kaza and Northstar copper prospects and represents a district-scale copper-gold porphyry exploration project, the company said. At the historical Kaza copper-gold prospect, soil samples up to 5.09 grams per tonne gold (g/t Au) and 10,000 parts-per-million (ppm) copper were found, along with surface rock chip samples from 1973 including 0.88% Cu, 15.4 g/t Au and 120 g/t silver (Ag) over 4 meters coinciding with a 2,000-by-600-meter area of high IP chargeability and low magnetic response.
With two district-scale projects (Cyprus and its Golden Sidewalk project in Ontario), Prosper’s stock is “considered to have extraordinary upside potential from its current low level with potential for massive percentage gains,” Maund wrote.
“It therefore looks like pressure is rapidly building in Prosper Gold stock for an upside breakout into a major new bull market so that the time window for buying it at this price is rapidly closing,” he wrote.
The Catalyst: Bull Market Keeps Rising
Gold continued its bull market Monday, surging above US$3,400 to a new record high as the dollar weakened and uncertainty over the economic impact of U.S.-China trade tensions spurred demand for safe-haven bullion, according to Ashitha Shivaprasad and Daksh Grover writing for Reuters.
Spot gold rose 2.6% to US$3,414.91 an ounce at 09:26 a.m. ET after hitting a record high of US$3,424.25 earlier in the session, Reuters said.
Gold, which is considered a hedge against uncertainties and known to be a highly liquid asset, has scaled multiple record highs and gained more than US$700 since the start of 2025. It surpassed US$3,300 last Wednesday and its strong momentum pushed it up by another US$100 in just a few days, Reuters reported.
“As tariff tensions continue to move at a fevered pitch, we continue to see gold prices move to the upside as a safe haven response,” said David Meger, director of metals trading at High Ridge Futures, according to the Reuters piece. “There’ll be pullbacks and profit-taking at times, but we still believe in the underlying trend to be on sideways to higher trajectory.”
Some predicted gold could go even higher. Garth Friesen wrote for Forbes on March 15 that DoubleLine Chief Executive Officer Jeffrey Gundlach said, “I think gold will make it to US$4,000. I’m not sure that’ll happen this year, but I feel like that’s the measured move anticipated by the long consolidation at around US$1,800 on gold.”
And according to an April 10 post on Goldfix, Goldman Sachs has revised raised the upper boundary of its forecast range for the end of the year to US$3,520 an ounce and even introduced a “tall-risk scenario” as high as US$4,500 an ounce.
“The revision stems primarily from upside surprises in ETF inflows and persistent, large-scale central bank gold purchases,” the article noted.[OWNERSHIP_CHART-6200]
And with just about every leg of the energy transition depending on copper and its importance as an electrical conductor, the hunt for the red metal is also important and “has been accelerating, as companies involved in all parts of the copper supply chain realize the structural supply deficit,” wrote Rick Mills, author of the newsletter Ahead of the Herd.
“They understand the need to find sources — existing mines, expansions, brownfield projects, greenfield projects, etc. — and are making deals to acquire the base metal, which is not only essential to electrification and decarbonization but industry in general,” Mills wrote.
Ownership and Share Structure
According to the company, 19% of Prosper Gold is owned by management and insiders. Of those, CEO Peter Bernier owns 17.19% and Director Jason Hynes owns 1.24%, according to Refinitiv.
About 26% is with institutional investors and the rest is with retail investors.
According to Reuters, the company has about 56.76 million shares outstanding. Its market cap is CA$4.53 million and it trades in a 52-week range of CA$0.08 and CA$0.16.
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Important Disclosures:
Prosper Gold Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Prosper Gold Corp.
Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any 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. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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* Disclosure for the quote from the Clive Maund article published on April 22, 2025:
For the quoted article (published on April 22, 2025), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$1,575.
Author Certification and Compensation: [Clive Maund of clivemaund.com] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing the article quoted. Maund received his UK Technical Analysts’ Diploma in 1989. The recommendations and opinions expressed in the article accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed
Clivemaund.com Disclosures
The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.
