Gold Miners’ Q1’20 Fundamentals

By Adam Hamilton – Re-Blogged From Gold Eagle

The major gold miners’ stocks have rallied dramatically out of mid-March’s stock-panic lows, soaring to new bull-market highs. Their just-reported Q1’20 operational and financial results reveal whether today’s higher gold-stock prices are fundamentally justified. They also illuminate whether this gold-stock upleg is likely to continue powering higher, despite the catastrophic economic damage from governments’ lockdowns.

With officials around the world waging a scorched-earth war against this COVID-19 pandemic, the gold miners’ latest quarterly results are more important than ever. While this earnings season covered Q1’20, most gold companies didn’t release their quarterly reports until the last couple weeks. In them they had to disclose the ongoing impact of governments’ COVID-19 lockdowns current to those quarterlies’ release dates.

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Silver Miners’ Q4’19 Fundamentals

By Adam Hamilton – Re-Blogged From Silver Phoenix

The carnage in the silver miners’ stocks has been apocalyptic, fueled by the astounding COVID-19 stock panic.  As terrified traders frantically dumped everything and ran for the hills, silver and its miners’ stocks crashed.  That catastrophic anomaly has potentially created epic contrarian buying opportunities.  The silver miners’ recently-reported Q4’19 results reveal whether their fundamentals support a massive rebound.

As long-time silver-stock traders are painfully aware, this tiny sector is no stranger to adversity.  Only the most-hardened contrarians dare chasing the white metal’s occasional monster skyrocketings.  Back in late February, silver was rallying nicely as gold surged over $1600 on mushrooming COVID-19 fears.  But over the next 17 trading days silver collapsed 35.8%, with nearly 3/4ths of that loss in the final week alone!

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Gold-Miner Valuations

By Adam Hamilton – Re-Blogged From Gold Eagle

The gold miners’ stocks have spent the past half-year mired in a high consolidation.  They haven’t been able to break out, but aren’t breaking down either.  This technical purgatory is working to slowly bleed off overboughtness and rebalance sentiment.  This necessary process to eradicate greed from the last upleg peak is never exciting.  But today’s low gold-miner valuations reveal great upside potential in their next upleg.

The world’s leading and dominant gold-stock trading vehicle and benchmark is the GDX VanEck Vectors Gold Miners exchange-traded fund.  It commanded $13.2b in net assets in the middle of this week, 2.7x larger than its next-biggest competitor GDXJ.  The major gold miners’ stocks included in GDX soared this past summer, blasting higher after gold’s decisive breakout to its bull market’s first new highs in several years.

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Gold Mid-Tiers’ Q3’19 Fundamentals

By Adam Hamilton – Re-Blogged From Gold Eagle

The mid-tier gold miners just reported their results for a phenomenal gold quarter.  In Q3’19 this metal surged after its first bull-market breakout in years, driving much-higher prevailing prices.  That should’ve led to soaring profits for these mid-tiers in the sweet spot for stock-price upside potential.  Last quarter’s results are the most important this sector has seen in a long time, a key fundamental test for gold miners.

Four times a year publicly-traded companies release treasure troves of valuable information in the form of quarterly reports.  Required by the US Securities and Exchange Commission, these 10-Qs and 10-Ks contain the best fundamental data available to traders.  They dispel all the sentiment distortions inevitably surrounding prevailing stock-price levels, revealing corporations’ underlying hard fundamental realities.

The global nature of the gold-mining industry complicates efforts to gather this important data.  Many mid-tier gold miners trade in Australia, Canada, Mexico, the United Kingdom, and other countries with quite-different reporting requirements.  These include half-year reporting rather than quarterly, long 90-day filing deadlines after fiscal year-ends, and very-dissimilar presentations of operating and financial results.

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Climate Socialism – or Eco-Fascism?

Green New Deal climate alarm socialism is really intolerant, totalitarian eco-fascism

By Paul Driessen – Re-Blogged From WUWT

Green New Dealers have convinced themselves that our planet faces an imminent, existential, manmade climate cataclysm – that can be prevented solely and simply by government edicts replacing fossil fuels with biofuel, wind, solar and battery energy. They achieve this state of absolute certainty largely by propagating constant scare stories, while ignoring and suppressing contradictory evidence and viewpoints.

They deliberately and deceptively talk about “carbon pollution.” Carbon is soot – what our cars, factories and power plants now emit in very small quantities. The honest, accurate term is carbon dioxide: the colorless, odorless, invisible gas that we exhale and plants need to grow, by using the tiny but growing 0.04% of Earth’s atmosphere that is CO2 to grow faster, better and with greater resistance to droughts.

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Past, Present and Future Progress Requires Mining

By John M. Clema – RE-Blogged From WUWT

Metal and mineral needs are constant, constantly evolving, requiring new mines

Civilization’s progress has always been heavily dependent on farming and mining. The Stone Age didn’t end because mankind ran out of stones.

Instead, the discovery, mining and processing of metals like copper, bronze and iron, followed by the development of steel, led to progressively sharper, more effective tools, improved construction techniques, and other engineering and technological achievements. Nonmetallic minerals have also been and remain vital to civilization and progress.

Minerals – or their scarcity – have precipitated wars, but more often have led to certain countries becoming dominant in manufacturing vital products such as computer chips.

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Modern Societies Require Minerals, and Mining

Paul Driessen and Ned Mamula – Re-Blogged Frm WUWT

When OPEC imposed its 1973 embargo, the United States was just over 40% dependent on foreign sources for its oil. But sudden price hikes and shortages severely disrupted families and businesses.

Today the USA relies on foreign sources for 100% of 14 minerals considered to be “critical” for modern technologies and societies, and 50-96% for 19 other “critical” minerals; only two are in the 14-25% dependency range, an updated report from the US Department of the Interior (DOI) cautions.

Congressional bills would end US mining and leave USA dependent on foreign critical materials

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