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In this issue...
- Editorial
- Company News
- Premium Snippet
Editorial...
Today we discussed the long-term outlook for silver stocks. We've posted the charts here previously but the piece gives a good update on the long-term setup for silver producers. We will produce more insight in our upcoming premium update.
Company News...
Huldra Silver is testing its mill and the company decided to raise another $6.7M. The market does not like a second financing but in the long run it puts the company in good shape as they begin producing Silver.
Argonaut Gold announced an option agreement with Bravada Gold and its Wind Mountain property, a past producing property in Nevada. This small investment gives Argonaut the option to add another development property to an already strong pipeline. Argonaut management understands that the market wants growth. Wind Mountain also has an updated PEA.
In case you missed it, Corvus Gold announced some drill results from the Mayflower portion of its North Bullfrog deposit.
Not much news on First Majestic Silver lately.....oh well, shares are up 60% in the last two months. That is quite the gain for a company worth more than $1B.
Premium Snippet...
We noted Silver in our last update here. Over the weekend we updated our model portfolio holdings as well as stocks on our watch list. Next up is a Silver update. In any case, both gold and silver equities are ever so close to resistance which we expect will slow down this one-way rebound. If we do get that typical October pullback then it will be a good time to accumulate. For now, we are reassing our positions and our watch list so that we can take advantage if some weakness sets in.
At the end of last week, year to date GDXJ was flat and the model portfolio was up 19%. Since 2011, GDXJ is down 35% but the model portfolio is up 11%.
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Wishing you health and profits,
Jordan
Disclaimer: Sponsor Companies are only sponsor companies of TheDailyGold.com. Do not construe sponsorship with a recommendation. We are not a registered investment advisor and information and analysis provided is for informational and educational purposes only.
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