Eric Sprott in his Weekly Wrap-up: Prophecy Dev. PRPCF
“Invest on small level, interesting silver project in Potosi in Bolivia, has 43-101 50 million oz silver very high grade, company will focus on the asset, good deposit, will get a lot bigger with drills, looking forward to hanging on to that company and perhaps increasing my investment.”
Right now you can get $9.50 of silver in the ground for 21 cents per share.
even less today.
There was a post a few months ago that really didn’t get much review. It had an unusual title which few in the US are familiar with. It was last November that Elrac posted a presentation that was subtitled “Things that make you go Hmmm…” - a more appropriate title than Crikey! There were a couple of comments on the forum, but little other interest. I repost it here as I found it very informative and entertaining. It does not tell you which stocks to buy.
Can’t blame you if you aren’t interested in the keynote speaker’s presentation at a Precious metals Conference a couple months back. After all he only talked about history and parallels to the roaring 1920s with it’s rapid social and political change, bubbles, and interventions on monetary policy since 1933, or actually since the FED was created in 1913. If you prejudged the important content and message because of the forum of where it was presented you may have missed an opportunity to be entertained and gain an insight. After all, we’ve got a full plate of things in the news; Covid-19, worldwide political unrest, trade relations …. Fill in your own list.
Things That Make you Go Hmmm… is a rather thought provoking short video that draws parallels to the exuberance of the roaring twenties and today… Here’s the link again, if you are at all interested in your retirement accounts. Good correlations graphically and easily understood historical notes.
Here is a screen shot of one of the opening Power Point slides:
If you can pardon the commerciality of the site, I found the articles in the link below follow my outlook on what to expect over the next 2-3 years and beyond. The super cycle that is just beginning in the PM markets is predicted to be full of volatility, is being led by Gold, with Silver soon to follow. The Bull in PMs should last the next 7-8 years.
Follow-up articles that this forum has avoided, but should be looked at for long term investing in the PM is IMF policies and the SDR rebalance coming about in October 2021. Yes, SDR rebalance is largely determined by the gold reserve backing a country’s currency. There are only five countries that have SDR allocations that many other countries depend on for global trade.
Market seems to be on sale today (again), anyone buying anything?
MDMN has been my safest mining play today. lol.
From 20 days ago! 
I think I would have been much better off at shorting than actually buying stocks over the last twenty years. And what gives; even gold(or gold mining stocks for that matter) are in the toilet. With it not even doing well as a safe haven investment, what good is gold anyway? Ugh.
There was no safety in the market this week, even with the best of stocks.
PMs took an even bigger smash-down!
Post deleted by me.
Are we seeing a short relief rally predicted for Friday’s market overreaction?
I think most Funds have up to 10 days to rebalance specific stocks in their Funds that suffered from such a smash-down. Is it shorter for ETFs like the 3 day rule? There’s also a problem with stocks that have been borrowed from a margin account that need to be replaced back into the brokerage account. Expect volatility to persist that will be largely news driven. If you sell ETFs, the individual stocks within that ETF will be sold pro rata.
By request, a new topic has been created for discussion of global health issues affecting the markets. Prior comments that deal primarily with that have been moved to the new topic.
For anyone not keeping up with news releases on Novo Resources Corp. (TSX-V: NVO; OTCQX: NSRPF) from yesterday, March 02, 2020 (GLOBE NEWSWIRE):
Novo Agrees to Acquire Significant Stake in New Found Gold Corp.
… New Found is focused on exploring its wholly-owned Queensway project (the “ Queensway Project ”) located near the town of Gander, Central Newfoundland. The first hole from its late 2019 drill program (NFGC-19-01) on the Queensway Project intersected 92.86 g/t Au over 19.0 metres including 285.2 g/t Au over 6.0 metres . This intercept is near surface, starting at 96 m down hole depth. The true width of this intercept is estimated to be 70% based on drill core angles and correlation with historic drilling. The information in this paragraph and the next has been provided to Novo by New Found and has not been verified by Novo.
https://www.novoresources.com/news-media/news/display/index.php?content_id=381
This acquisition diluted NOVO by approximately 7M shares for a 17% stake in New Found.
New found will own approximately 3.7% of NOVO.
Don’t know how that deal makes sense for NOVO. Seems like they should concentrate on their Australia projects unless they really don’t think they are viable?!
Words of encouragement for the junior miners and exploration stocks. This paragraph comes from Gold-Eagle:
The myth is that the stocks lead the metals. But this is not true for periods when longer-term sustainable moves occur. Gold leads, typically followed by the larger cap miners, followed by silver. Bringing up the rear are the risky juniors, which can provide huge returns in a short period of time. Currently the mining stocks – and especially the micro-cap junior exploration “venture capital” stocks – are extraordinarily undervalued in relation to the prices of gold and silver.
WOW - No one posting today!
Shell shocked for sure.
High frequency trading partially to blame for the extreme volatility? I’d put part of the blame on ETFs for sure, also. Options are another matter. Yes, Covid19 is a catalyst for many things, including the stock market.
Just wanted to mention that the GDXJ rebalances on March 20 with a few new tickers to be added. The GDXJ had a low today of 19.79, high 27.85, and close of 26.68. An individual stocks’s price contained within an ETF may show great volatility. The GDX closed today at 22.49, with a low of 16.18 and high of 22.95!
There were some notable trades possible today for any one with some cash on hand to make a bid. I especially noted KL (L18.03, H28.14, C26.17) and GOLD (L12.65, H17.15, C16.33). I didn’t pick those up, but certainly would have liked to! I did pick up a few shares of NEM, though (L33.00, H43.19, C40.73).
Just buying a little at a time in a market with all that’s going on. Mostly staying with producing companies with decent cash flow.
Miners really got crushed today, but eventually they’ll be back when things get settled down. A few I hold that were rather extremely volatile were WPM, PAAS, RGLD, SAND, NG, FNV and AEM.
MUX, GBL, MTLFF, NSRPF, RNKLF are more speculative plays. Buying incrementally in this volatility is something to be considered for those with a longer time horizon and risk tolerance for investments that should do well in the long run. Brokerages with no trading fees have made purchases of small lots much easier for anyone averaging down in this environment of high market volatility. Hoping for only a few typos as this post is is made on my phone (out of town for a while). GLTA and blessing to stay safe.
Just for fun, I checked out Kitco bullion today, man I’ve never seen so many out of stock labels on the various products and I’ve been buying since the early 2000’s FWIW
It is reported that US Mint can’t keep up with the demand. Paper trades destroying the spot commodity price?
Elrac just posted a link for an excellent Jim Rickards interview on the Covid19 thread. It’s really one of the most up to date informative interviews on what the market is experiencing (and the Gold and Silver markets).
Jim Rickards: The Economic Freeze is Here… on Kitco.com
Australian gold stocks should be a good buy right now as gold is at an all time record high in the local currency: Gold Price Australia
Fuel savings are in the $25 to $100 per ounce range so profitability will absolutely improve. (Unless there is a production stoppage locally due to sick workers of course.)
RNC (Royal Nickel) is my favorite at the moment. It is located in the middle of nowhere which should mitigate virus risk.(Only 35 cases in Western AU so far.)
Silver Elephant Begins Trading on OTCQX under SILEF on March 23, 2020
Vancouver, British Columbia, March 23, 2020 – Silver Elephant Mining Corp. (formerly “Prophecy Development Corp.”) (“Silver Elephant” or the “Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N) i s pleased to announce that at the opening on March 23, 2020, the Company’s trading symbol on the OTCQX® Best Market in the United States will change to SILEF (from PRPCF).
About Silver Elephant
Silver Elephant is developing its premier Pulacayo silver project in Bolivia. Further information on Silver Elephant can be found at www.silverelef.com.
SILVER ELEPHANT MINING CORP.
ON BEHALF OF THE BOARD
