/biz/ - Business & Finance

>>25368788
Very nice OP to start off 2021. Here's to precious metals and /pmg/!

>>25368788
Graven images!

Showing off my birfday stuff again :)
Thanks dad.

Based and Doubloon pilled!
Happy New Year everyone!

>>25368788
Checked again op and thanks for baking a new thread. I just made my first silver purchase ever and plan to purchase a couple of ounces of silver with each paycheck to set aside money for the downpayment for a house. Thank you /pmg/ and Happy New Year!

>>25368885
is the one on the right a necklace made around that gold coin? Your dad is pretty based btw

>>25368839
>Very nice OP to start off 2021. Here's to precious metals and /pmg/!
Based and you beat the bot
Cheers M8!

Happy New Year /pmg/!

Happy New Year, anons. Hope we continue to be a community that is helpful to one another, and that is continually educating ourselves and others on the PM and mining industries, investing and trading, financial markets, economic policy, and self-sufficiency. Wishing you all health, success, and happiness in 2021.

>>25368968
I’m not a bot

>>25368839
cheers lad

>>25369107
>>25369018
>>25368968
>>25368921
>>25368885
>>25368839
Happy new years!

>>25368961
Yeah they’re called bezels, it shits on the coin’s value but I’m never selling so it doesn’t matter.

Happy (almost) New Year PMG!

Just remember, no matter what happens in the future, we still have our gold, our silver, our based threads and our miners.

Toast to 2021, great riches lie ahead!

>>25369609
we all should have something we're not willing to sell, you'll probably look back on that bezel gold coin necklace and think back to the good old times when gold and silver were so cheap lol

Happy New Years' /pmg/!

Happy New Year to all my frens in the best general on all of half-chan! It's been a fugged year full of uncertainty, anxiety, schizoid musings, obsessive pharma hoarding, prodigious scrapsperging and smallcap bag filling. It's been a pleasure sharing the wild ride with you fellas, we're all gonna make it and hopefully be able to help others in our lives make it through the coming uncertainties too. Thanks for everything comrades, I'll toast to your health and happiness with my sterling chalices and look forward to sharing the joys of fat gainz and our mooning shiny rocks with you all through 2021. God bless and prosper anons.

>>25369696
>think back to the good old times when gold and silver were so cheap lol

There will be many wonderful stories for our future grandchildren fren!

>>25370417
What purity is all that, Sterling?

I saw this and thought youd be interested

Happy new year fellas, I’m glad we all decided to start using names in this general

>>25370546
There he is. There he goes again. Look, everyone! He posted it once again! Isn't he just the funniest guy around?! Oh my God. I can almost see your pathetic overweight frame glowing in the dark, lit by your computer screen which is the only source of light in your room, giggling like a like girl as you once again put “Ser Stackalot” into the name box. I imagine you little shit laughing so hard as you click it that you drop your Doritos on the floor, but it's ok, your mother will clean it up in the morning. Oh, that's right. Did I fail to mention? You live with your mother. You are a fat fucking fuckup, she's probably so sick of you already. So sick of having to do everything for you all goddamn day, every day, for a grown man who spends all his time on 4chan filling in the name tab. Just imagine this. She had you, and then she thought you were gonna be a scientist or an astronaut or something grand, and then you became a namefag. A pathetic unfunny namefag. She probably cries herself to sleep everyday thinking about how bad it is and how she wishes she could just disappear. She can't even try to talk with you because all you say is "Ser Stackalot”. You've become a parody of your own self. And that's all you are. A sad little man laughing in the dark by himself as he prepares to indulge in the same old dance that he's done a million times now. And that's all you'll ever be.

>>25370639
Okay KiD, u confirmed gay

Been looking at some potential microcaps because one anon last thread was grimacing that there just aren't that many good microcaps that haven't pumped yet. Just looking and skimming through their stuff nothing too deep... I'll do a thorough DD on the ones I get more interested in. In any case I felt like sharing what I've found. I was looking at some exploration plays in Newfoundland since there is a gold rush going on there after NFG's discoveries. Here's two pretty interesting microcaps for you guys, look into them

There is Sky Gold (SKYG) that have small adjacent assets to NFG, these assets are also along strike and on the same fault lines as NFG's high grade hits, also along the same fault lines as LAB's Kingsway project. The main asset, Mustang Project, has a drilling program ongoing and a drill core intersected visible gold just before year end, assays pending. Mustang could either have a low sulphidation gold deposit or possibly even a Carlin type deposit, as proposed by Altius Minerals in 2003. This might be a good way to get exposure to Newfoundland as the market cap is still just under $13M.

Another company in Newfoundland, this one a silver-base metals play that I found interesting is Sterling Metals (SAG). They have a very tight share structure, only about 30M outstanding (about 50% in retail too), market cap $20M. Their Sail Pond Project was previously optioned by NFG and is located a little farther away from the gold rush claims around NFG. The area is total greenfield, no drilling done before. There are very high grade silver-copper-lead-zinc grab samples distributed evenly in two zones. These large mineralized zones have been confirmed with soil geochemical surveys. The zones are 7km and 2km long respectively, and are trending from SW to NE. They also have large quartz veins in the property. They will do a Phase I exploration program and will try to do a maiden drilling program afterwards. Very promising greenfields play imho

>>25370639
tasty!

>>25370639
based as fuck
namefags get the rope

Its been one rocky 2020 pmg. I wish you guys the best for next year. Keep stacking!

>>25370765
dam that map looks worse than the golden triangle does. I ve got Sky Gold on my watch list for drilling and Newfoundland Gold as well. The finds these companies have been making are superb, and shows what modern tech can find in previously explored territory. I cant wait to be able to say Newfoundland is once again a gold producing province.
Now if only we could get the Canadian government to stop selling off all our raw gold the moment it leads the mint we would be set.

>>25370639
Why! I’ll never! This shan’t do good ser.

I don’t know about you all... but because of the 2nd variant of Corona this is the first time since college that I’ve felt alive. I have lots of silver and been waiting for something like this to happen for 5 years. The point where things get so bad that 1 silver merc dime will buy me a blowjob from a formerly well to do housewife and her 18 year old daughter at the same time. I’ve been waiting in the shadows laughing at these cuck husbands who buy their wives range rovers instead of buying silver bullion... that I’ll be face fucking their wives mouths for the 1.30$ it cost me to buy that silver dime.

Just yesterday at Whole Foods I seamlessly entered into conversation about Corona with a roastie milf that had a ring on her finger in the water aisle... and I said this is all a cover for trump to bring us back on a gold standard. She started looking at me in amazement like she wanted me to paint her lips in cum. At the end of the conversation I’m like take my number l have plenty of protection and freeze dried food if you ever need it and she took it from me

Happy NYE fellow PMG stackers. appreciate every minute with you guys

>>25370875
It's a total gold fever there lol. Everybody wants a piece of the Queensway Pie. I'm thinking about buying some of these companies' shares just for the sake of it even though I haven't done any thorough research yet. They both seem very promising to me. Sky Gold's pending VG assay is making me feel the pressure lol. The idea that this might be a Carlin type is intriguing although it's probably just a low sulphidation deposit.

>>25370999
nice get and yes i am leaning to low sulfidation too, thats fairly typical for the regional history as well. Its very interesting to see micro free mill of that scale in core too, thats very rich material.

>>25370765
Thanks anon. I believe you're referring to a post I made. I'll look into both of these companies. I'll reintroduce a couple microcaps I've stumbled on:

Tri Origin Exploration (TOE). 6m market cap gold explorer with four properties in Canada. Management seems "shareholder focused." Total properties are 500 sq km.

CEO.CA chat: "TOE is not a grassroots play. This is not 100% uncertainty and pure hope. For a stock with 1) a historic resource, 2) very good historic grades rivaling early results from companies like GBR and AMX who have exploded, 3) being on trend with Casa Berardi, 4) having management that is smart and is not willing to kill the company to stroke his own ego and 5) having mineralization throughout the properties, an $8.5 (now 6) million cap is pretty darn de-risked in my opinion."

Starcore International Mines (SAM). 15m market cap, gold and silver properties in Mexico, producing and exploring, and according to the (active) CEO chat, no debt and cashed up. The sentiment seems positive on management.

CEO.CA chat: “According to the last year's result, they produced about (229,830*30.49*0.5436/31.1035=)122,000 ounces of silver and (229,830*1.82*0.8767/31.1035=)11,790 ounces of gold. That production result can reasonably support a 100 million C$ of market caps. It is 2 dollars a share already.

They produced over ten times more ounces of silver than gold. The coming silver bull market will be a strong tailwind behind Starcore. The current silver recover rate is only 54.36 percent, which means there is a large space for improvement.

If the management keeps cutting the cost and improving the efficiency and step-out drilling for new resources, Starcore can be another ten bagger.”

Do your own DD. Not saying these are necessarily outstanding choices, just a couple interesting companies I stumbled upon.

>>25368788
Checked and based OP

Happy new year PMG! My tantalum came in, reminder to stack some while it's cheap! Nice new years gift

Peter Schiffs bitcoin wallet. You losers got played.

>>25370999
If anyone can find it, there was a fantastic documentary done by Knowledge Network some 15 years ago on the Newfoundland gold mines, I ve been hunting for it for years to no success, but it showed some of the incredible surface VG showings across trend in this very district which is now being reprospected. It went into great detail which mines produced the best grade ore, and showed a team of miners draining a shaft to access workings not seen in 100 years. Someday I ll find it.

>>25371254
That’s based as fuck. Do you have any praseodymium on the way? No stack can be complete without it

Silver was up 47%+ on the year for 2020, is there any doubt that 2021 will be an even better year for silver? Not in my mind. A repeat of last years returns would be an increase to $38+/oz.

>>25371113
It is interesting that the mineralization seems to be hosted in breccia in addition to quartz, meaning there could be a high-grade feeder zone at depth. The previous drilling results show long intercepts of low grade gold, probably due to the brecciated stockworks spreading mineralization all over the place. Meanwhile NFG's Keats and JBP areas have yielded high-grade gold over long distances hosted in quartz and very near surface. I guess tectonic movement or something could have pushed the higher grade mineralization closer to surface there? My knowledge fails me here a bit.
>>25371148
I'll have to have a look at Starcore at some point. Tri Origin is very promising but I already have exposure to the area since I own their neighbor Metals Creek.

Here's another one I skimmed through:
Fabled Silver (FCO) are a brownfield explorer in Mexico. They have an old mine in their Santa Maria Project, which they have optioned from Golden Minerals (AUMN). They can obtain 100% ownership. Santa Maria is located inside Mexico's Epithermal Silver-Gold Belt which is home to many many current and old mines. They have nice infrastructure there, an airport just ~20km away and lots of roads and three mills operated by majors in close proximity. Also major mining company projects in vicinity. They already have a recent MRE (12/2020) done: Indicated 3.2Moz Ag; Inferred 1.1Moz Ag. The deposit remains open along strike and at depth. Silver grades are high and intercepts tend to be short, as is typical for the area. Veins also carry lead and zinc and a little bit of copper. The company commenced a new 8km drilling program in December following an IP survey that showed multiple potential mineralized areas. Financials are alright although the share has a lot of warrants and options so it will be diluted a bunch. Still, very interesting silver exploration play with good prospects

>>25371254
>>25371439
Honestly you can’t even call yourself a stacker until you have a solid base of Praseodymium. Praseodymium has been artificially suppressed by the big banks for decades now, and they can’t keep on doing it for long. History’s largest bull run on Praseodymium is just starting, and you’re gonna kick yourself forever if you don’t get in on it now

>>25371639
more likely higher grade gold at surface in this area is due to enrichment from oxidation of the vein structure from surface water infiltration, and yes your likely right about the brecciated stockworks, any movement during fluid intrusion would likely re-concentrate the gold elsewhere in higher quantities. There were several old surface workings in that region which produced some of the richest ore in Candian history, including one small mine whos name escapes me right now which had two shipments of ore carrying 34ozpt gold. More work is sourly needed to trace these deposits to depth.

https://stocktwits.com/symbol/CLF

>>25371254
That shit is expensive af. Wow.
How the fuck people digging around in the Earth see these different metals and don't think they are all the same thing is beyond me. I can't tell the difference between platinum and silver by looking at it. How would I know copper from zinc from anything else. wtf

>>25371799
for a time many of the rare earth elements were considered the same metal due to our inability to process and refine out the different elements. A fun fact about platinum too, for many centuries it was considered a waste product as we did not have smelters hot enough to melt and purify it. Hundreds of tonnes of platinum were dumped off the coast of Spain after it was used as ballast in Spanish treasure ships. Copper ore is actually rather easy to tell from its green / blue color, while the zinc minerals such as sphalerite grow as black or dark gray shiny crystals of different shapes. Early man figured this out fairly quickly but again it was not until the 18th century that we developed purifying smelting tech that could remove metals like zinc from other metals.

Graven images

Um guys why is my dealer suddenly quoting very high prices? I just made an order for gold yesterday at 2479 AUD gold

>>25371732
Mmmmmm its so delicious to see my pastas being used

>>25371752
Alright you'll have to teach me again. Sorry but I'm getting curious.

>more likely higher grade gold at surface in this area is due to enrichment from oxidation of the vein structure from surface water infiltration
Alright let's see if I understand this correctly. So the veins have been in contact with surface water (rivers, streams, etc.?) over time. This has caused oxidation which enriches gold grades? I thought that high sulphidation yields higher grades of mineralization?
>yes your likely right about the brecciated stockworks, any movement during fluid intrusion would likely re-concentrate the gold elsewhere in higher quantities
Sweet, nice to be right sometimes even if I don't understand these processes that well. Why does surface water intrusion re-concentrate gold elsewhere though? What's the reason? Pressure?

>32ozpt Au
That is unheard of these days. Insane. I wonder, will NFG be able to find a "Swan Zone" in their property? It's very similar to Kirkland Lake. Is the "Swan Zone" caused by these same breccia/fluid intrusion processes by the way?
>>25371376
I'll see if I can find it. Doubt it if you couldn't though

>>25372072
Idk. Very weird. Markets should be closed for 67 hours.

>>25372072
Maybe they increased premiums after the year changed? Probably something they had planned in advance. Cheeky fucks, they know people will be running for precious metals this year

>>25372123
basically your highest grade gold / silver on almost any VMS or similar deposit will be at or near surface within on average 100m due to water from the surface leaking into the ore body through cracks or surface erosion. The ore near surface interacts with oxygen and water and begins to break down, pyrites break down into iron oxide secondary forms. Due to this the water becomes very acidic allowing it to carry micro particles of gold deeper down into new enriched zones. This is also part of how gold nuggets grow, the fluid finds cavities already containing a particle of gold and the micro particles fuse to this existing blob, growing a nugget until the host rock erodes away. This process is different all over the world, and depends greatly on surface temperature, pressure and all sorts of other side effects as well. We also dont understand the process entirely.

>>25372238
Thank you, I understood everything perfectly. Very nicely said in a nutshell, now I get how these deposits form a little better once again.

>>25372123
to best describe how these breccia's work in changing where gold is deposited, you need to think of the different drop out temperatures and pressures involved. Gold cant be suspended in solution without the right heat and pressure working on the transporting solution, however often in these structures the fluid only partially cools, allowing dropped out gold to actually sink down back into the transport solution. The solution is becoming less fluid and more plastic, think a slurpy type material. The gold being dense wants to sink back down, but the fluid continues to move and so only a minor amount of gold is left behind in the original cooling zone, and is transported elsewhere until the fluid temperature drops and solidifies.

Happy new year /pmg/

May 2021 bring us another 22%+ in gold and 44%+ in silver.

Even more would be nice since I have $40 SLV calls for June.

>>25372332
Ooooohh so the reason why there is high grade gold near surface could be because the geothermal processes are intruded by surface water which cools the geothermal fluids down so quickly that the gold doesn't have the time to sink lower underground while the fluid slowly cools. Yes, it all makes sense.

>>25372343
How much did you buy those calls for? I'd like to learn a lot more about options this year and hopefully use them as a small speculative tool to capitalise on a lot of my predictions which have come correct.

>>25372466
so quickly that the gold doesn't have the time to sink lower underground like it would when the fluid normally cools slowly*

>>25372466
not quite, the fluids cool and become veins than far later down the line they become eroded by close contact with the surface allowing the gold to be reconcentrated. Its two separate events. You can also have multiple remineralization events too, usually stockwork veins are generated by dozens of infills of fluid, and you can read them like tree roots in the veins themselves. This is an imperfect science too, we dont have a clue about all the variables involved in generating these formations but were getting there.

>>25372567
Oh alright then. Yeah seems like there are a dozen and a half variables at work at any mineral deposit. I guess you'd have to be trained in geology a little to be able to estimate how deep the gold is deposited only based on knowledge of the deposit type and surrounding geochemistry. Probably easier to estimate those things in known Greenstone Belts and the like.

>>25372665
heres a few shitty semi drunk diagrams for you, i really should make an MS paint version of this one evening.

Part 1.

hey bros, am positioned well with metals and miners, and starting to expand into energy commodities (Uranium, Lithium, and Manganese) and steel. How applicable is metals DD for these companies?

Looking at P/NAV, P/CF, TAC, $/oz as primary metrics, to be weighed against market cap to determine amount to risk. Should I look into other valuations for U3O8 and Steel, and if so, where to start looking?

Starting out with
Uranium: $UUUU, $UEC, $FCUUF
Steel: $CLF, $X
Manganese, $MNNXF, $AMYZF

>>25372836
And part 2.

>>25372343
>in gold and 44%+ in silver
Oh, please. Please, God.

>>25372868
Glad to see you learning about valuation metrics. No, with other commodities you just replace the "ounce" part with the commonly used metric. Basically just use the same metric that the metals are presented to you in the technical report, as opposed to the usual "Moz" in precious metals. Also fully diluted EV/resource is better than Mcap/resource, use that one instead -- it's more conservative. And P/NAV remains the single best metric to evaluate a project but you need to have an NPV estimate (or make your own if you can -- I sure can't)

Also, about TAC: If you're reading the miner pastebin it seems that the TAC there is a bad calculation because when you increase total ounces the acquisition cost per ounce actually goes down. Doesn't seem to work that way in reality so maybe don't use that as it is presented there. You'll have to speculate the different takeout multiple for different acquisition $/resource prices. Use this calculation instead:
Takeout multiple = Acquisition price per unit / FD EV/oz

>>25372836
>>25372869
Thanks for the images Pan Man. Really helps me understand better.

>>25372343
not yet I'm not done accumulating

>>25373148
i ll try and either make or find a gif image of how this works, its just hard to describe in words but once you visualize it properly everything makes complete sense.

>>25373217
If you can, I'd be glad to see it. I do feel like I understand pretty well how this works. The only part that I'm scratching my head about now is how gold can just "grow" due to changes in the temperature and pressure though.

>>25373255
best way to visualize this is to go and get a coffee and dump a bunch of sugar in it. The gold is suspended in the fluid at atomic scale particle size and can only stay in this solution so long as the chemistry is right. In your coffee the fluid can only pick up so much sugar until the remainder is left on the bottom of the cup, and if the temperature and fluid state changes the sugar will drop back out and grow crystals. Again though I am keeping this in lay person terms, there is a whole subsection of igneous geology for this and I really dont want to try and explain that, it will cause a whole class of students to fall asleep.

>>25373148
Thanks. Using this as an assist to the pastebin since I'm a graphical guy: https://www.pgo.ca/uploaded/files/events/webinar-2019-mining-financial-model-valuation.pdf

What do you mean doesn't work that way in reality? The theory of TAC is sound, no? I understand that accounting for diluted market share accounts for the possibility of insiders dumping bags on you, so you should account for this...have you seen this happen with established players like AG, NEM, and FSM? If so, I'll be re-evaluating some holdings.

Can you guys explain something to me? Forgive me, I've been debating a family member over this. At some point in order to survive, cryptos will have to decouple from fiat and anchor themselves on precious metals in order to stabilize, store value, and not got destroyed through fiat debasement, i.e. having a $1 million in BTC doesn't do much good if a loaf of bread costs $50,000. As such, having an ounce of gold is far better than having a BTC because not only can you convert it into whatever currency the U.S. creates after the dollar collapse, but also whatever cryptos survive. The relationship might actually become three fold - new U.S. currency is valued in precious, and cryptos are valued in the new currency, so precious metals now anchor and control both.

As a consequence, it seems the only real value in cryptos is speculating, and then converting profits into gold and silver before the crash, which will wipe most of them out. Am I wrong in my thinking here? Trying to convince a young family member not to put all of his eggs in the crypto basket.

>>25373413
That's actually more simple than I would've guessed. I always forget that these are geothermal FLUIDS we're talking about, it's so easy to think of gold and the earth as something physical but while a deposit is forming they're actually liquid... So the same rules of simply mixing sugar or salt to water can be applied. So most of the mineralization is just spread across the liquid evenly, making it uneconomic to mine. But if the concentrations get high enough then they don't simply get spread out all evenly.

Of course it's more complicated, there is pressure and geothermal currents and stuff to consider and probably many other things too. But this visualization makes the gold "growing" clearer to me, thank you!
>>25373483
>Using this as an assist to the pastebin since I'm a graphical guy: https://www.pgo.ca/uploaded/files/events/webinar-2019-mining-financial-model-valuation.pdf
Ooooh this is good. This is going to the pastebin 2.0, thanks for sharing this. Very easy to understand and presented in an easily digestible way! In fact I might just delete the other one from the pastebin and put this in its place. I'll have to study that pdf and see if I can learn something new myself.

>What do you mean doesn't work that way in reality? The theory of TAC is sound, no?
No, the TAC calculation which I was referring to was the one in the pastebin, seems to be incorrect: https://corporatefinanceinstitute.com/resources/knowledge/valuation/mining-asset-valuation-techniques/
>I understand that accounting for diluted market share accounts for the possibility of insiders dumping bags on you, so you should account for this
Yes, correct. I'm not sure whether it has happened before but it's just better to assume that things go badly for you. Assume that every single warrant and option is exercised and that shares will be fully diluted. You'd rather be positively than negatively surprised, right?