Gold and Silver continue to trade in a range, with gold holding unable to break the $1,850/oz. resistance level while support looks strong around the $1,770/oz. I would expect gold to be rangebound the year, trading between $1,780-$1,850/oz. The mining stocks are still trading at fire-sale prices with tax-loss selling, adding some downward pressure. Now is the time to initiated or add to positions as the fundamentals have never been this strong. This may be the last great opportunity. While prices are certainly a lot higher relative to March of this year, quality mining stocks, especially junior exploration companies are trading at extremely lucrative prices.
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$ABRA.V, $AGI, $USAS, $AG, $GBR.V, $GRSL.V, $KL, $LUN.TO, $NEM, $NEE.V, $ODV.V, $VGCX.TO, $WDO.TO, $WPM
AbraPlata: Reported additional high-grade silver, gold, and copper mineralization, including its best intercept to date at the Oculto deposit at its Diablillos project in Argentina. Highlights include:
- 83m @ 289 g/t Ag and 1.45 g/t Au
- Including 60m @ 287 g/t Ag and 1.87 g/t Au
- Including 6m @ 648 g/t Ag and 0.44 g/t Au
- Including 6m @ 735 g/t Ag and 2.42 g/t Au
- 5m @ 98 g/t Ag and 4.16 g/t Au
- 2m @ 55 g/t Ag and 5.29 g/t Au
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Chief Mining Analyst with SilverSeek & GoldSeek. Previously he was the Senior Mining Equity and Economic Analysis at The Morgan Report. He was a Co-Founder and Director of Lemuria Royalties, before it was acquired in March 2018. He also co-authored The Silver Manifesto with David Morgan in 2015.
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