David Finch

Thought for the day: "In a market where the marginal buyer is an idiot it doesn't pay to be too smart"

Same chart with S&P added

I saw the Dow Jones just passed 50,000 for the first time. Here's the chart of the Dow vs Gold rebased to zero from the day that Nixon closed the Gold window.

culperresearch.com/wp-content/upl… The Nexgen short report. Says the company is a management enrichment scheme. Who could have guessed?

@BlackAlex58 @Pete__Panda Sounds like a Con. Detestable idea!

@Pete__Panda Gold companies chasing copper diversification 😉

Eldorado swallowing up Foran in a C$3.8 billion deal (nihil premium for ants) #Copper #Gold

Unpopular observation: Jim Cramer was right about silver!

The kangaroo ate my homework. Aussie golds underperforming the AUD gold price by 4% so far this year. Is @DebraG_Robins the only bull downunder?

It must be a commodities bull market, even zinc is breaking out!

Equity market convinced these gold and silver prices not real.

Important.

@real_MikeBarnes Gold?

Is there a product that acts like a money market but doesn't pay interest just adds the interest to the NAV and cash can compound without tax?

And here is the Junior Silver Miners ETF massively underperforming silver since November.

There's widespread scepticism in Western equity markets about the sustainability of recent moves in metals prices. Chinese investors on the other hand don't seem so cautious. Chart shows the three producing tin stocks and Shanghai tin futures rebased to 0 as at 1st Nov. Only Yunnan has provided any leverage to the tin price while AFM has undeperformed the metal badly. Let's see who is right.

@casperj33081634 @Sustainabledud1 Mining stocks -> meme stocks. Enjoy

@Sustainabledud1 Yet its still up 50% today 🤷‍♂️

There we are.

Physical silver now trading at a premium to the December future:

@moneyofminepod Everyone should watch this. Great episode.

Western miners face a brutal reality: their cost of capital is up to 66% higher than peers in Asia. That gap is reshaping who gets to build the next generation of mines. Imagine trying to finance a billion-dollar copper project while your competitors borrow at half your rate. The result? Asian industrial capital (Japan, Korea, China, Indonesia, Saudi etc.) is stepping in where Western markets can’t. In this episode, veteran banker Michael Willoughby explains how a multipolar world of capital is changing the game: • Why Western equity markets are structurally capped • How Japanese trading houses and Middle Eastern funds are reshaping deals • Why metals may become the new “store of value” for sovereign capital seeking inflation hedges Listen now to hear how geopolitics, capital flows, and mining strategy intersect, and what it means for the next decade of resource investment. YouTube 👉 youtu.be/h6JpJVmZjNc Spotify 👉open.spotify.com/episode/3pPHD3…

$CTM.ax Centaurus just wiped $40m of their market cap to raise $17m.

@WVerily As @YellowLabLife points out in his reply above, it is a transfer of value from exisiting shareholders to new shareholders without the exisiting shareholders' consent.

@DavidFi_ This is happening so often with junior miners, one wonders whether there is not some form of extortion going on.

$MAI Minera Alamos - it's not the deal in itself that is bad - Fiore is an ok asset, or the price paid - which seems reasonable, but the horribly dilutive terms of the deeply discounted financing + warrants. A company that had a good knowledge of its shareholders and good relationships with them would have been able to have a sensible discussion pre-deal and finance this with an at market-price issue. It's ironic that one of the distinguishing features of MAI in the past was the fantastic IR job that Doug @dougcan consistently did and the relationship he built with the shareholders. But he seems to have disappeared from the scene.