Member Info for ID78

Gold went on a rip.

It’s pulled back and gold shares are being marked down as a consequence.

$4200-$4300 was the range widely reported as where gold would pullback a bit.

Like in the lower $3000s gold will consolidate around $4000 then push on to $5000. And that is the conservative price of gold….

Yep LW - if you are prepared to risk missing a breakout this can be traded for a healthy profit as the SP continues to trade sideways… and that is what is happening

Re Patrick Karem - between him and his associated at Northstarbadcharts - I really like the weight of evidence that they use to back up their claims on the health of the markets (primarily with respect to gold).

Fundamentally- you are correct the short term moves are hard to call. They more try to paint a broader picture, a road map for where the price is going longer term.

Safe to say they are long both gold and silver. I don’t think they are preferring one over the other, tho I’ve taken my eye off the ball a bit lately - too busy.

I do think Patrick was suggesting if you are trading silver $55 was where to sell (did we get there?)

Again - when I get more free time I will try and post more definitively.

Personally - I’m subscribed to Northstarbad charts for less than £20 a month as I feel they will give me the evidence I need to move my money between the main market, to miners or to crypto treasury shares… so far they have called gold and silver very very well. I think I’m more looking for a way to gauge when to switch out of gold and silver into bitcoin treasuries (and I think that will be a few years away)...

Tempted to move some OMI money into BRES….

Very tempted.

At the start of the year ARCM was one of the shares I had the highest hopes for but as the year progressed I couldn’t understand the lack of news and lack of drilling given the cash unlocked by the JV.

As you say PP - they need money now but the flip side is that drilling can now start.

When is the wet season again?

I couldn’t understand the lack of drill results - so I had sol out of this.

Surely there is some level of compensation for the deal ending? If I remember right there was a payment if the agreed drill budget wasn’t spent in 3 years? Was it £21mill?

So do ARC get this as compensation now?

You’d think they’d have said in the RNS if they were get compensation…

What a nightmare

Hi PP

Umm - usual chartist wait and see sort of comments. I’ll try and rewatch yesterday’s update and get back to you.

Worst case - there could be a pullback to $35 - it is a possibility - before heading north again. But that was absolute worst case.

Too much going on at home - I really can’t remember the rest. So I will re-watch and get back to you. I do know $48 was called out as resistance ($50 was not resistance technically). And so presumably $48 is now the support.

Fundamentally the message is gold and silver are still outperforming S&P, NASDAQ, Crypto, Copper (and on and on)…

I think it was only last week or last 2 weeks he suggested silver had just entered a price zone they he calls ‘the main event’ where silver will go nuts.

Yeah - I’ll try and watch again tonight and post something a bit more useful!

Https://m.youtube.com/watch?v=SMWPGT6m9Rs

Really bullish isn’t he?…. and why wouldn’t he be?!!!

Hey LW - pretty sure we both expected a gold pullback around $4300, $4200 (before heading to $5000).

And look at that - a pullback. I’m not saying the correction is over but the next stop is gona be $5000.

Tho there are plenty out there predicting over $10,000 eventually …

Back to OMI - nice to see 25.8 support hold :-)

Hey big kahuna - happily take a flat day yesterday.

I saw ALOT of shares in the red…

I expect ARV will use the same ASL labs in Perth.

I think the turnaround time for assaying cores (once received) is 6-8 weeks. You can make predictions based on WSBN (not yet received drill results) and UFO…

Hey mediman - hype.

WSBN somehow got a following that ARV and other doesn’t (yet). Obviously the location next to GGP helped to build that hype….

Prices for explorers are all about hype initially and attracting retail.

Rather be invested here than in WSBN - less risk (for all the reasons outlined by bonker99)

Duno but a lot of shares are red today

So be it

Drilling started 5 weeks ago…. First results must be imminent…

‘Tiny company working from our grannies basement’ love the turn of phrase.

‘We aren’t burning through cash, every thing is as low cost as possible’

Hey Napthman - I did. Didn’t like the latest raise… but also I think the safe way to play WSBN is to buy back IF results are good. If they aren’t you lose money. If they are you buy back and make money - maybe not as much as if you just hold.

Fundamentally there are safer places to park your money in the meantime - like OMI (and ARV) 😁

Bid sitting at that 27.6p resistance….

It’s had a couple of bounces of 27.6p, it can’t hold forever!

How long have ASL had WSBNs core and no results as yet.

Best guess results are 6-8 weeks away..