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Friday Conversation - Denver Dave Kranzler

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It's always great fun to visit with our old friend, Denver Dave. In the absence of your regular daily content today, please carve out some time to give this podcast a listen.

Over the course of this call, Dave and I tried to focus upon three main topics:

  • the current situation and the continuing Bank efforts to control price
  • what's next for The Fed and the other CBs as they fight deflation and illiquidity
  • where the mining shares are headed in Q4 and into 2021

And here's that long-term chart of the GDXJ that we discuss:

Once you've listened...and if you're looking for additional audio...I ask that you turn your attention to the podcast below. It was recorded back in Wednesday and I recall feeling like it went pretty well. Trevor does a great job and yours truly felt particularly well-rested and lucid that day.

Thanks again to Dave and Trevor for their help with these podcasts. I hope you have a great Friday and a relaxing weekend.

TF

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BlackwatersailorTF
Oct 9, 2020 - 3:01pm

Every time

You go on a va-ca prices go up. Therefore Turd needs more va-ca's. haha. Remember liquid libations help with your golf game or at least you worry far less about your score.

DeaconBenjamintheskier
Oct 9, 2020 - 3:01pm

Klondike

Were they bought out by Eskimo pies?

bpetetheskier
Oct 9, 2020 - 3:00pm

MAG

Just hit its 52 week high!

bruinjoe
Oct 9, 2020 - 2:59pm

Thanks for recording this interview

Dave Kranzler is one of my favorite gold experts. His gold newsletter is worth buying. He shares a lot of trading tips and does an excellent job with profiling junior miners. For example, he told subscribers he was selling some miners (I'll keep the names private) a few months back. Those miners have gone down a lot and now he is buying those same miners again. He picks miners that have long term potential but shows how to play the short game as well. Even if you don't want to trade in and out it's still valuable to learn how a fund manager trades. I'm not much of a trader so I use Dave's picks for longer term investments.

stingbee
Oct 9, 2020 - 2:57pm

$DXY

Looks like it was fall to around $92.50 by next week. SLV should get to $24.00... Spot Silver should reach $26 next week. Then, we will see what happpens.

Wizdum
Oct 9, 2020 - 2:50pm
theskier
Oct 9, 2020 - 2:04pm

klondike

Down 25% .... anybody see any news on them?

H8FiatRickshawETF
Oct 9, 2020 - 1:53pm

Re: Old miner purchase

Been there done that. I purchased a number of miners that have seen serious dilution. Pretty sure they will never come back unless Au / Ag go up 1000%

Ones that still concern me is PSLV and PHYS. I purchased both of these when the metals they represent were at lower values and PHYS just now even while PSLV is much lower.

H8

RickshawETF
Oct 9, 2020 - 1:44pm

Boy, did I miss the train!

Today, in Eric's Sprott Money podcast, he (and Craig) mentioned Silvercrest Metals, and how well they've done recently. Well, I knew I owned some shares, so I looked back through my time machine . . .

Back before the dawn of time (ok, actually July 31, 2013) I purchased 1,000 shares of Silvercrest Mines at $1.61 per share, for an investment of $1,626.90

On October 9, 2015 (Happy 5th Anniversary!) there was a "reorganization", and Silvercrest Mines became Silvercrest Metals. The share ratio in the reorg was 0.1667:1, so my 1,000 shares became 166 shares. My brokerage statement for the end of October, 2015, showed I owned 166 shares of Silvercrest Metals -- with a total value of . . . drum roll . . . $20.60 !!! WTF?

Yup, I'd managed to hold this stock while it lost 98.7% of its value! On October 31, 2015, Silvercrest Metals was selling for $0.1241 per share! So, did I pile in, and buy up a ton? No. I just held on to my measly 166 shares . . .

Today, Silvercrest is at $9.48 per share, so I only need another 3% gain to break even -- after 7 years of holding this stock! If I'd just thrown in another $20 when the reorg happened, I'd be close to a 2-bagger on this puppy . . .

Angry Chef
Oct 9, 2020 - 1:25pm

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