RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Tudor start moving up….
Cobra I think we just have to endure slow and indifferent markets for PM's. But they are in the long run probably a gift of plenty of opportunity to accumulate. We will be diluted, hopefully not severely, but the kinds of multiples you are talking about (profitable mineable ounces selling for a small fraction of a reasonable NSR in a PEA) are what light a fire when the market turns.
It is interesting that rising rates have not done more damage to the gold price, they have definitely hurt the juniors. The typical winner is dollar-denominated treasuries or bonds when there is a flight to safety that bypasses gold. It is also interesting how many younger people are carried away with magical thinking about crypto, and how their substitution of crypto when an older generation would have turned to gold has no doubt hurt the gold market. My take in both is that the value lies in avoidance of regulation, international politics and government scrutiny, but gold has no counterparty, whereas I don't buy the suggestion crypto is without various intermediaries and counterparties. Governments shying away from the US dollar as a portion of their foreign exchange reserves definitely still like gold bullion. They can afford to have it stored and shipped - many keeping portions housed in safe jurisdictions like the USA, Switzerland, Canada, some of the more stable tax havens.
Don't want to rain on anybody's parade, I am long Treaty Creek and a believer in a payoff at a better valuation. I like the steady progress that has been made drilling. It isn't some fly by night promotion, they really are working towards development of a mine or several.
But I don't think any regular progress short of bonanza grade discovery will beat the current market malaise. What I do believe is that rising tides lift all boats, and a rising tide for PM's is coming. Crypto has looked overly volatile and suspicious. The US debt ceiling and possible bond default, but also the brinksmanship politics to be expected, is a potential catalyst of a move towards gold. So too is the new global monetary system split caused by Russia and antagonism of many sovereign states towards American dominance and thus aversion to the dollar. Young people may take an interest in this old fashioned investment when it begins to move and add momentum. But when? No idea. I do believe when it moves it will be much like the 2002 -2006 period when there was a strong irresistible trend that lifted the entire junior mining sector, and it will be no different when it next happens. And when money is flowing into the leverage of the juniors to PM's, and happily at Treaty Creek also copper which looks poised to rise for the green revolution reasons we all know, there is an excellent story to tell at Treatt Creek, in the right jurisdiction, with robust potential numbers, and a probable catalyst to monetization in a major mining company take-out.
But I won't hold my breath about 2023, have to see how it plays out. I do think if th3 shenanigans in Washington follow the playbook we saw about Kevin McCarthy securing Speaker of the House, then that might be enough to start the ball rolling for gold.
Accumulate. TUD and TUO are cheaply priced. Do your own DD, my opinion, my money, my timeline.
cg