Theta Gold Mines: 29-Month Payback on Paper. Execution Is the Trade.
In today deep dive series, we explore Theta Gold Mines (ASX: TGM), a producer that is building the TGME gold project in Mpumalanga, South Africa, on a 6.1 million ounce
Deep Dive Series
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Norsemont Mining – 2.74Moz AuEq, a 3,000 tpd Mill, and a C$81M Market Cap, What’s the Catch?
In this deep dive episode, we go through Norsemont Mining (CSE: NOM), a company that owns 100% of Choquelimpie in northern Chile, a past-producing gold-silver system with 2.18Moz indicated and
Maronan Metals, Australia’s Next Silver Mine? PEA Uses Only 22%, Dilution, and the Reality Check
In this deep dive series, we review Maronan Metals (ASX:MMA), one of Australia’s largest undeveloped silver-lead projects. We audit their Starter Zone PEA, JORC resource, metallurgy, and the A$377m NPV
Inventus Mining, 564oz From Surface: Why McEwen and Sprott Own 51% of It?
In this deep dive series, we breakdown Inventus Mining (TSXV: IVS), a company that processed 9,842 tonnes at Pardo and recovered 564ounces. Sales beat direct costs by 53%. McEwen, Sprott
Excellon Resources: Fully Permitted Silver Restart, Tiny Inventory, and a $70M FCF Claim With No PEA
In this episode of deep dive, we discuss Excellon Resources (TSXV: EXN), a company that has restarted Peru’s past-producing Mallay silver-lead-zinc mine and already made first concentrate without a PEA,
STLLR Gold: 16 Million Ounces, $265M Cap, Why Sprott and Agnico Are Here?
In this deep dive series, we check into STLLR Gold (TSX: STLR), a company that controls Tower, Colomac, and Hollinger, about 7.8 Moz indicated and 8.8 Moz inferred in Canada.
Macro charts
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The Mining Sector Has Almost Disappeared From the Stock Market
This chart tells a powerful story. Gold became dramatically more expensive, yet mining companies became dramatically less important inside the global equity market. In the mid 20th century, mining represented a much larger share of global equities. That made sense.
Gold Prices Drop, ETF Holdings Rise. Something Is Brewing
This chart tracks 2 different things. The black line shows total known gold ETF holdings in millions of ounces. The gold line shows spot gold prices in dollars per ounce. Separate scales, same timeline. At the far right, holdings climb
When the 2-Year Yield Peaks, What happens to Gold? 1999, 2004, 2016 & 2023 Reveal
What this chart is really showing is a battle between gold and the price of money. When the Federal Reserve tightens policy, short-term yields rise, real borrowing costs increase, liquidity becomes more expensive, and gold suddenly has competition. Gold does
