RE:Gentlemanly WitThank you bovalena, I was watching some of the new Chef’s Table BBQ series on Netflix and some Texas style brisket had me salivating! Some day, ten-bagger Treaty Creek permitting I’d love to get down to your neck of the woods and poke around old Comancheria. We might break bread then. I’m in Vancouver and we can’t even drive across the border to spend our little mini dollars these days.
Not dumping on the blue sky possibilities ... the KK thesis of continued periodic large ore bodies along sulpherets seems to be shaping-up, so between Goldstorm and Iron Cap ... game changer to come? As for Goldstorm, looking very solid, and my focus has been on the likely bottom line value. And I too am a fan of Walter and think he is a steady hand on the advancement and realization of value. The solid value in hand plus juicy drill targets has lots of upside possibilities. Just not there yet and will total up “my ounces” very conservatively. Not trading my position, probably not dipping into my cash unless we got a big dip that could induce me to back up the truck volatile markets be damned ... but man I would prefer to keep some insurance whether it is bullion and/or cash. Can’t pay bills with mining stock, and when cash is tight, forced liquidation in a frightened market can be ugly.
Given a wide sell-off today (jittery markets!) when you factor in the NSR and even applying some pretty pessimistic discounts, shares look to me to be going cheaply. The only uncertainty is the forward price of gold, and maybe copper, and though we appear to have broken primary support on the path towards $2500 this morning, you and I and probably most gold longs are on the same page - we can’t see an exit strategy for central bankers that doesn’t involve monetary inflation and currency debasement in a very low or negative real rate environment. Gold should be an asset in favour and the long chart looks fine.
The gyrations are just noise to me right now. If you played your cards right in 1987, in 2000, in 2008, in 2011, there were juicy juicy buys or holds that paid off big time for steady Eddie value-driven speculators. One thing that is interesting about the supposed big sell-off to come is big-sell offs are rarely so well advertised. Which means maybe it is more likely choppy wall of worry ahead than some zombie apocalypse collapse and return to a new Dark Age.
All the chickens have their feather’s ruffled and are clucking up a storm these days! The media is a really loud echo chamber ... as tragic as it is for the unfortunate few, a 1% mortality increase makes hardly a dent in humanity. Elections come and go. Technology, rural modernization, urban migration, and world population growth creating expanding middle class consumption remain the dominant themes. And contrary to alarmist predictions the world is more cooperative, less violent, healthier, more connected ... than ever. And we are on the cusp of some technological advancement in clean energy I’d bet. Like the silicon revolution where memory and storage were a limiting factor until cloud-based solution provided a step-up, seems like we are tantalizingly close to some battery innovations that should mean non-carbon fuel renewable energy can be collected, stored and distributed much more efficiently.
But there will will be days like today. Ugly, but it will pass?
cg