➡ The price of gold has reached a record high of over $2,200 per ounce, sparking interest among investors. A Harvard-trained geologist discusses various ways to invest in gold, including ETFs, physical gold, and mining. He also mentions that central banks and smart money are buying gold as a hedge against potential future crises. However, he warns that the U.S.’s actions against Russia’s dollar-denominated assets could have serious repercussions.
➡ The text talks about the increasing value of gold and bitcoin as alternatives to the dollar, which is seen as unstable. It explains that in the past, the dollar was as valuable as gold, but now people are looking for more stable options. The text also discusses the process of buying gold, including the markup price and the importance of buying standard, recognizable coins if you plan to sell them later. The main point is that gold and silver are bought not to get rich, but to protect wealth over time.
➡ This text talks about the value of gold as a way to keep your wealth safe over time, even if the journey is a bit rocky. It explains that gold’s value has increased more than the cost of things like cars, beating inflation. The text also discusses the benefits of physical gold, which can be kept secret unlike cryptocurrencies. It ends by giving advice on buying gold and silver, suggesting to buy from reputable dealers and to avoid overpaying for branded mint coins if you just want to accumulate metal.
➡ Freeport McMoran, a large producer of gold and copper, is doing well as the prices of these metals rise. Smaller companies like Contango are also noteworthy; they’re mining ore in Alaska and will soon start processing it to produce gold, which will generate cash flow. Another company, K 92, has a large amount of high-grade ore in Papua New Guinea and is expected to benefit from rising gold and copper prices. Lastly, Dolly Varden, an exploration company in British Columbia, is a potential takeover target due to its rich silver ore findings.
➡ The article discusses the current economic situation, highlighting the growing national debt and suggesting that investing in precious metals like gold and silver could be a safe alternative. It also mentions the potential of other metals and minerals, such as uranium and lithium, and the need for more investment in these areas. The author believes that a shift of funds from tech companies to these underinvested sectors could lead to significant growth. The article ends by encouraging readers to learn more about gold and its potential as an investment.

Gold just hit all time highs above $2,200 an ounce. We’ve got tons of investors and market watchers wondering what’s next, and importantly, how to make money from gold. So we brought in our Harvard trained geologist, gold bug extraordinaire, amongst other things. The man is a legend, a former navy pilot, recovering lawyer, and all things. But importantly, today he wants to dive into how to play gold. Can we play EtF’s? Can we play physical gold? How do you look at miners? We’re going to dive into it all.

If you want to know how to play gold with all time highs here, we’re going to do it. Byron, get us caught up. There’s a bunch of things about investing in gold and what people need to know, a bunch of different ways to do it. Let’s hear it from you. Where should we start, Brian? Okay, thank you. Thanks, Matt. And for everybody out there, we have to say this is not personal financial advice.

You know, that’s channeling the lawyers here. So we’re going to talk about a lot of things. If we mention anything, it’s not personal financial advice. We have to say that. Those are the magic words. Okay, so let me just start anecdotally. A couple weeks ago, I was up in Toronto at the, at the PDAC conference, the prospector Developer association of Canada conference, you say, what kind of name is that? I don’t know.

It’s been around for 100 years, 90 years, I guess. It started 1932 in the depths of the Great Depression. It’s the big mining conference. It’s global. People from all over the world are there, except for Russia, for obvious reasons, they’re not invited anymore. But everybody was there. China was there, you name it. Every country in Africa, South America, whatever. It usually it starts on a Sunday afternoon. So on Sunday afternoon, I’m there.

The place was like a funeral home. Okay. It was like, oh, you know, the aisles were empty. Lots of empty booths and stuff. You know, just, where is everybody? It’s like, you know, that was sort of like the barometer, the pulse of the industry. People are in the doldrums. Monday morning, when the exhibit hall opened up at 10:00, the price of gold had just spiked above $2,100. And the place was starting to get busy and people were like, hey, hey, did you see the price of gold? Hey, price gold, 2100 bucks.

Wow. And as this conference unfolded over the next couple of days and the price of gold held above 21, people were getting excited. And that’s good, because when the primary industry where they mine. This stuff is getting excited. That’s good. The price of gold to silver has gone up in recent months but it has not dragged up the miners, the mining side of it. I mean with very few exceptions the mining guys have sort of lagged, you might say, the metals.

The price is what it is when gold is 21 and it was 22 just yesterday. It was 22 20. I think it was like 21 75 today. Yeah, go ahead. I’ll go ahead and share the gold chart. And this is a long term, this is obviously this is back to 2004. Look Byron, this is like around where we started working with each other, right around here. We should have been buying way more gold with, with everything we had with two fifths.

But yeah this just talking over this chart from the, from what I’m seeing at Paradigm press and some of our technical trader types. Right, I know Sean ring, I know Greg Gunther, Al Nachman. Like those guys are a little bit more trading mindset and looking at technical. So obviously we had this huge bull market here in the, in the late, you know, two thousands or whatever. Uh, 20 to 2007 up to you know, 2011 or so.

But then there was this big trough and what I think Sean was the first one to bring this up. But this is like a, a five or six year, like a huge, what they would call like a cup and handle. So it’s like this big cup and then there’s this little handle and that normally you know, technicals don’t always work out but a lot of times that means you know, there’s, there’s something very positive happening.

And then you started going if we go like maybe five year, you look at this, you had this triple. Every time it tries to get up to 2000 it just couldnt do it. And now for the first time ever, if you go over here, this is November 2023. So this is over on this side of the chart. Its finally saying, you know what, I want to sit above 2000.

And this is where we were talking about on these calls saying if you want to get in, its a good time because like you know, if it goes down into the 19 hundreds again, you know, you might be, you know, getting choppy and whatnot but you know it’s a decent time to set a lower limit and then you can look at the upside. And now we’re finally seeing the upside.

We’ve got a bunch of stuff here. Like Byron said, went up to 2200 and above a couple of days ago and things are looking good. So anyway I just want to pull up that chart just so everyone could see sort of the history of where gold’s been and then why right now is a time to be excited about it. Yeah, well, thank you. Yeah, great. Thank you, Matt.

Now just talking about gold in particular, but I’ll throw silver in as well. I talk to the metal guys, to the people who actually sell metal, you know, I mean they, industrial metal and you might say retail or bullion metal for monetary reasons. The industrial guys are, they deal in long term contracts, two and three and five year contracts with reference to spot prices and escalators and things like that.

Big, huge industrial demand for silver, if not in so many things, but certainly in solar panels, that is a, I mean there is a, there is not enough supply of silver out there to meet the forecasted demand. So silver is headed upwards just on industrial demand reasons alone. On the gold side, when you talk to the people who sell bullion metal, it’s not, you know, Joe Blow or Susie schmo walking in wanting to buy a gold coin or two or three.

No, no, no. The people who are buying gold right now, the central banks are buying it just hand over fist. Maybe not the US central bank or the canadian central bank because they’re captive to their own economic philosophy, but pretty much most other central banks in the world are buying it’s big, huge demand coming from there. And then a lot of really smart money is starting to buy.

Not the big sort of public money that shows itself off all the time, but I mean, family offices that are quiet for a reason, keep quiet for reason. Certain very leading edge hedge fund kind of people are starting to accumulate gold and that’s part of that price rise and say, well, gee, why are they doing it? Well, because they’re hedging against whatever could happen. People do, oh, it’s going to be World War three.

I sure as hell I hope not. But they’re hedging against that. But other things that people are hedging against are things like the weaponization of the dollar. Here’s a Wall street journal from Wednesday, as in like two days ago. And the headline says, us tightens the vice on russian money. This is a page one above the fold. The US tightens the vice on russian money. Like we’re tightening the vice on russian money.

What are we doing to the ruble? We’re doing nothing to the ruble, okay? What we’re doing is we the west, not me, not you. But you know, but our political powers are jerking around dollar denominated assets owned by the government of Russia, the state of Russia and we’re talking about we’re going to seize those $300 billion that we froze when they invaded Ukraine. That money is not sitting around in big wads of cash or anything.

It’s all little electronic ones and zeros on treasury bills. It’s all on a computer. Much of it is traded or deposited in banks in Europe, not in the United States. But the US and the Europe are, are tightening the screws on money that has been frozen, that is the property of Russia. But now they’re talking about we’re going to seize it and we’re going to give it to Ukraine or whatever.

Wait a minute, there’s a word for that. It’s called stealing. It’s called piracy. It’s called banditry. It’s not a good thing. Bismarck himself, the iron chancellor, once said that the Russians always come for their money. If you swipe $300 billion from the Russians, something’s going to happen. It’s not good. Meanwhile, you can say, well, it’s Russia. We don’t care. You better care, okay? Because first of all, they have 6000 nuclear weapons.

We don’t need to go there. Second of all, when you do that to Russia, who else are you going to do it to? Do it to Russia today, we’re going to do it to somebody else tomorrow. The rest of the world is saying, listen, you guys in the west, you’re crazy. Your culture is breaking apart. Your whole system is breaking down. You’ve weaponized your money and what you’re doing to Russia is just proof that we’d better get away from your dollars and find something more stable with us.

Back to why is gold going up? Why is bitcoin going up? Something that’s an alternative to the dollar? Now in the olden days, the dollar was as good as gold. I hold in my hand here a US dollar ten gold piece, 1889. Uh, $10. It was about a half an ounce of gold in there. You know, that was, that was perfectly valid coinage in 1889. You know, here’s, I’ve showed this one before.

Here’s a 19, oh, $820 gold piece. No motto. It doesn’t, it doesn’t have the in God we trust on it because Theodore Roosevelt took that off for like two years. But it’s a. This was perfectly good money. This is a $20 gold piece. People used to trade this. They would, you know, back. Back in the days when $20 was a heck of a lot of money. I mean, this $20 gold piece today, the gold in it is worth about, you know, $2,200 just for the.

Just for the metal value of the gold, you know, now there’s a numismatic value as well. This thing is worth far more than just the gold, just because it’s a rare piece of coinage. But, you know, own gold. If you don’t own some, get some, you know, gold and silver. And now we get into the issue of how do you buy gold? Or what kind of gold do you want to own? I mean, if you want to buy coins, that’s one thing.

I mean, you’re getting into numismatics where you’re going to pay the markup if you just want to buy gold bullion coins. Us West Point mint bullion coins, the gold eagle, 1oz 0. 99 purity. And you get onto the coin shop and you say, I see that gold is 21 75 today. I want one of your coins. They’ll say, fine, it’ll be $2,400 or maybe more. What’s the difference? Why the delta? Because that’s the markup.

There’s the spot price of gold, and then there’s the markup to actually obtain it. If you’re buying it from a gold dealer, they have a store, they have a shop. They’re earning a living from that. You’re always going to pay the markup when you buy the gold, the physical gold, you’re not going to buy that so that you can trade it. It’s not going well. I’m going to buy a coin this week, and when gold goes up next week, I’m going to sell it.

No, that’s ridiculous. You don’t want to do that because you’re going to pay the markup on the way when you buy it, and you’re going to pay another markup mark down, you might say, when you sell it, unless gold goes up a whole lot, like we were talking earlier on that chart, the dollar 600 gold from dollar 20 years ago is now $2,200 gold. Okay, yeah. If you bought coins then and you want to sell them now, okay, fine.

But you’re not going to trade that kind of gold. That’s generational wealth. You’re buying that stuff and you’re going to bury it in the backyard. You’re going to put in the safe deposit box, you’re going to do something with it, but you’re not going to trade that kind of gold. If you want to trade the price of gold, that’s where you get into the ETF’s, like the GLd ETF’s, things like that.

Let’s stay with physical because we’ll talk physical, and then we can get into the markets and ETF’s some stocks. And Byron, you’ve been to gold and silver mines all over the place, so we want to talk about that, too. But let’s stick with physical real quick, because a lot of people, that’s the question. And some people, you know, it’s something that you kind of put away. It’s the generational wealth.

And the. Some of the things I think about when, if you want to buy physical are, uh, you know, Byron held up different things there. One was in just like a little sleeve, like a little plastic sleeve, but then one was in like a graded case. So some of these things. Plastic sleeve. Yeah. This is an 1889 $10 us gold piece that was minted at the Denver Mint, actually.

And it’s valuable as an old coin, but it’s the old us currency. This is what the US economy used to run on. This is what they call slabbed. It’s been graded. Some professional looked at it under a magnifier and said, okay, there’s not that many scratches on it or whatever. So it’s graded. This is an MS 65 or something like that. You look at it, and if I tried to take this thing out, I’d have to break the plastic.

I don’t want to do that. So once they’re graded, they’re easier to sell as numismatics. But you’re in that numismatic sandbox of how much do you want to pay? More than the value of the gold. You know, I want to say, like, to get them graded. Like, even so, say the big metals buyers, like app Max and some of the other ones, like, I think when they buy from the mint, and then they’re like, we want to get it graded.

It’s probably like 2030, $50 a coin to get it graded and put in that little thing. But what Byron was saying is one of the important parts here. If you ever need to sell these things, there is some, some value in having a very, like, fungible version of physical gold. And that could be, Byron said it with us mint stuff, because if we’re here in the US, you might not.

And again, you’ve got, let’s keep collectibles on the side. If you want to buy something that’s collectible, that’s like, cool, that’s different. That is not going to be fungible. That’s not fungible on purpose. But this is stuff like, if you’re here in the US and you want to have the ability to buy and sell this if you needed to. Again, what buyer’s saying is true. If you buy it today, sell it tomorrow at a pawn shop, you’re probably going to lose four or $500 overnight because that’s going to be the ups and downs of it.

But if you want to buy it and hold it for a while, you want to get something fungible that’s very common so that it’s much more liquid. Like if you get some weirdo coin, even the like, I mean I don’t want to poo boo on people that buy the Costco coins, but even the Costco coins like you buy a Costco coin, I’d rather have a us mint coin that is just standard american eagle, american buffalo.

And then I think that grading adds another level of fungibility to it where it’s like you know exactly what you’re getting and if you need to sell one of those on eBay or you know, and eBay is going to take a percentage so it’s like just in their fees. So it’s never going to be super, super liquid. But those are better than some people might go out there and be like, I want to get the cheapest ounce I can ever get.

That logic might bite you if you need to sell it because if you find the cheapest ounce youre going to be sort of getting weird coins in all year like this and that. And if you ever need to sell it, you kind of want to have something thats very standard that everyone understands and its like, oh thats just the main american eagle. Its announced and its graded ill give you exactly this much for it, which I think really does help if youre trying to buy it and then sell it.

Now the US eagles, they have a higher markup, you might say, than say canadian mint maples for example, or australian Perth mints, austrian Philharmonics for example. Britain, it used to have Queen Elizabeth, I was going to say Queen Elizabeth, but King Charles now and even the King Charles’s have a markup because they’re new. But you can buy krugerrands from South Africa, you could buy british, you could buy austrian.

I mean a lot of countries have mints that do. You buy chinese pandas? I mean they actually sell those. But in terms of just what the markup is, if you just want to stack gold, you want to pay as little markup as possible, anticipating that you’re going to take it, you’re going to put it away for years generationally. Nobody’s going to see it again for a long time.

You might take it out every six months to look at it and say, oh, isn’t that pretty? You know, but you’re not going to, you’re not buying it to sell it. You’re buying it to preserve wealth over time, because gold and silver, they are wealth. You don’t buy gold and silver to get wealthy. You buy gold and silver to protect your wealth. And to the extent that the dollar declines over time, whatever, you are preserving your wealth over time, it’s, you know, it just might be a little bit of a bumpy chart along the way, but over the time of long moves, big moves, the gold will protect your wealth.

That $600 gold from 2007 and 2008, Matt, when you and I started working together, that $600 gold is now $2,200 gold. It’s almost a quadruple. I mean, we have definitely beat inflation. But if a car costs, I don’t know, $20,000. 25 years ago, know, a new car costs $60,000. So, you know, cars have gone up three times, gold has gone up four. So, you know, we’re a little bit ahead of game.

But yeah, another, another thing that I want to make sure I say, because I see this as the value of physical, right. A lot of people when cryptocurrency came out like its name is cryptocurrency and they’re like, oh, it’s secret. No one knows about it. Cryptocurrency is literally the opposite of crypto because it’s, everything is calculated, everything is on a ledger and everything could be followed. Gold, on the other hand, because if youre talking about preserving wealth, some of that, and again, im not advising anything on taxes and im not saying for you to do anything to ever avoid taxes, you do everything legally at home.

However, if you have gold that say you get a couple ounces of gold or whatever, and youre like, hey, I want to preserve my wealth or whatever as a generational thing, and then you want to give that to someone or if you want to hide it or if you want to, whatever, that’s as crypto as it gets, in my opinion. You have to physically do something with it, but no one knows where those coins are and you can do with that information as you want.

But I would worry if I was someone in California, like this is just a made up scenario, but, right, California, and they’re like, hey, we want to do a wealth tax. Like if you got your money in all these like cryptocurrencies, ir’s knows where that is, your bank account, your house. And they just start coming for stuff. You know, maybe gold kind of stays off the books there.

And again, do whatever you want legally. Like, that’s. That’s. I’m not saying to do anything illegal, but, like, that is actually crypto. Like, that is you can’t find where the. That gold is. And in days, like now, and maybe we go into the future where that trait of gold becomes more valuable. It’s probably way more valuable for someone like Russia right now. Cause they, you know, if we’re trying to seize all their money and do all this stuff, they’re like, hey, one, we’re gonna send a plane or a boat or something with some gold somewhere or get some gold or one, one or the other, and no one can really keep track of it.

It’s really hard. So that’s the other thing about physical. Again, you can use that however you want, personally. Um, Byron, anything else on physical? Cause I think we agree. You find a dealer that’s reputable, you buy it. And this is not a fast thing. This is not because, oh, my gosh, I think it’s going to go up this little bit amount in the next six months. This is like decades.

You’re assuming you’re going to hold it. So any other words on physical? Well, there are a lot of companies out there. They range from mom and pop shops down the street, the coin shop down the road there, all the way to really, really big companies. A company like Appmex, Apmex, the american precious metal exchange in Oklahoma City, which is a humongous operation. Hundreds and hundreds of millions of dollars, billions of dollars in sales.

Or Andy Shekman’s group, billions of dollars in sales over the years. At paradigm, we’ve had this long term relationship with a group called the Hard Assets alliance. Hard assets alliance. We, the company has a relationship with them. Very reputable group, though. We wouldn’t have a relationship with them if we didn’t think they were fair and square. You know, those are ways to buy it. One piece of advice.

Whenever you buy gold or silver, whatever, from a coin shop or from exercise, ask them, do you buy it back? It’s one because everybody’s happy to sell you a coin. Yeah, sure, we’ll take your money. Yeah, here’s your coin. Do you buy it back? It’s like, well, yeah, we do. Well, ask a few more questions about that. There are a lot of really weird coins out there. You know, Marvel Comics coins, all these weird things that the mints are just doing kind of gimmicky and, yeah, they might be fun.

And if you enjoy collecting Marvel comics coins or something, I don’t know. Okay, fine. But the aftermarket might not be so great. The primary metal might be worth something, should be worth something as time goes by. But you want to be careful about just sort of overpaying now for something that might take years to catch up unless you are doing it as a collectible for collectible reason. That’s a really good point, too, because with Haa, again, we have a relationship with hard assets alliance.

But if you find somewhere that. Cause if you don’t wanna say you’re actually trying to put, like, 5% of your net worth into gold, that is a lot of money. It’s important. You might not wanna hide that in a coffee can, and you might wanna have somewhere where it’s stored. Um, that’s a. That’s an important part, too, of the people that could buy it back or, you know, the.

The place that’s holding it, can. Can they trade in and out of it if you want to sell a little bit of it or whatever, and that probably gives you a benefit, because if they’re holding it, they know it’s real. They know what they gave you, so they don’t have to re essay it or whatever that may be. So let me make one more point. This is just on the silver point right now.

Silver, I think this morning was like $21, I don’t know, $0. 60 or, I’m sorry, $24. 60. If you go to buy a us silver eagle, a West Point silver eagle, that $24 spot price might be a $35 coin just because of the West Point markup. If all you want to do is stack silver, then. Then go for the, you know, just sort of the private mints. I mean, here’s a.

This is from the Asahi mint. It used to be the old Johnson Mathie, but you can buy this kind of stuff on Apmex or hard asset alliance, things like that. You’re paying a very, very small markup over the spot for something like this. If all you want to do is stack the metal, be careful about paying the high premiums for the mint brand. If all. You know, if all you want is just.

I want to get as much silver as I can, bury it in the backyard or, you know, drop it in the lake in a waterproof, you know, container or something like that. Till I, you know, till the. Till the war is over, and then I’ll go get it back. You know, this is the kind of stuff you want to get, you know, just basic stuff. I mean, here’s one from the Sprott group of Canada.

Just 1oz of silver, 1. 999 silver. It’s $24. 75 with a very, very, very tiny markup just over and above that. If all you want to do is accumulate metal, don’t overpay in the spot department. All right, Byron, let’s switch gears here. We’re still in gold and silver, but now instead of physical, we want to go into some sort of market based way of playing it. So what are some ways that you think of doing that? If you just want to play the metal in, you know, play in that sandbox, that would be something like GLD, the gold ETF.

If you think it’s going up, you buy shares in the GLD ETF and, you know, as it goes up over time. There you go. I mean, is there downside risk? Yeah, sure, because it’s a share of stock and it trades, you know, it trades on the market, and if the market’s having a bad day, everybody hits the sell button and things will drop. But theoretically, the SPDR gold trust, which Matt has just helpfully put up on there, it is reflected theoretically by the fact that they’re supposed to own gold in a warehouse with legal claims on real life gold to back up every share of what they claim to sell.

That’s one way to play it. Another way to play it. We’ve often mentioned the big guys, the big golden, Barrick Gold, and Newmont. They’re big. They’re well established. They’re out there. When the under invested rest of the market, the 99. 5% of the market that doesn’t own a single molecule of gold, when they do decide to buy gold, one of the first go to, the first go to place that they go to would be Barrick and Newmont, because they’re sort of like the bow of the ship, so to speak.

And then you’ve got the other guys right behind them, Kinross and Agneco, Eagle, well run companies, things like that. Some big gold companies also are copper companies. For example, Freeport. Freeport McMoran is one of the world’s big gold producers, or copper producers, but they produce a lot of gold, too. So when the price of copper is going up as it is now, and the price of gold is going up as it is now, Freeport tends to do well.

A lot of people trade in and out of Freeport. They write a lot of call options on Freeport. There’s a lot of ways to play an idea like Freeport. But my sort of real sandbox is the smaller sized companies. One company that we’ve mentioned a couple of times here in the past, it’s right on the cusp of being a producer. It is a producer in the sense that it’s actually mining ore, but it hasn’t processed it.

But it’s called contango, CTGo. Contango. Look at the last three months chart of CTGO and it’s a nice rise. The reason is that Contango has an operation in Alaska. And let’s see, that goes way back. Go back, like in the last year or so. Yeah, there’s one. Yeah, there’s 2024. Yeah. Early in 2024 here. Where the low spot on that chart. In January, they started actually mining ore in a place.

Let’s just say it’s south of Fairbanks. They mine the ore Mancho at a place called Mancho, Alaska, and they truck it up to Fairbanks to the Kinross operation at Fort Knox. That’s a different Fort Knox than the one in Kentucky. It’s just. It’s called the Fort Knox mine outside of. Outside of Fairbanks, Alaska. I’ve been there and they’re trucking the ore up there right now as we speak today.

This morning, there are trucks driving up the road hauling ore from Mancho to this site. They’re stockpiling it there and then around May or so, depending on the weather and depending on a couple other just operational issues, they’re going to start processing. Kinross is going to start processing ore for Contango and they will be pouring gold within a very short amount of time. And Contango is actually going to become a cash flow producing operation.

I had a wonderful talk with Rick van Neuenhaus in Toronto about this just a couple weeks ago at PDAC. Theyre going to be a cash flow positive company. By the middle of the summer, were looking at three, four, five months out here. It’s all very, very, very doable, and everything that’s supposed to happen in terms of execution, operations, it’s all happening, knock on wood. Everything’s going well, and then they’re going to have this cash flow and what are they going to do with it? They’re going to become sort of a very interesting, sort of a royalty play.

Once you have cash flow, an entire new type of investor can come in. I’m looking for some nice upside on. On that. Contango is a producer, but not quite pouring the gold. Yet another company that I visited with in Toronto, and I mentioned it a couple weeks ago in one of my articles and it’s on the other side of the world. It’s in Papua New guinea, but really cool company.

It’s a western legal system. It’s not. It’s not primitive at all. I mean, it’s a western parliamentary government legal system or anything else. It’s called k was built around a project that Barrick. I don’t want to say gave away, but walked away from a couple of years ago when Barrick almost went bankrupt. K 92. I recommended them a few years ago at $0. 37. They went up to $12.

We sold them. They came down. They’re drifting around. They were drifting around in the $4 range. Yeah, this I’ve got. I think this is the Toronto version, so I might have to. Wrong. Yeah, this would be. Yeah, those are canadian. Canadian dollars. You can buy OTC shares. I just want to show you some of the ore. This is ore from the k 92 projects. Chalcopyrite. If you think that gold is going up, and if you think the copper is going up, this is a company that’s just going to be.

This money is going straight to their bottom line. This is the ore. It is extremely high grade. Chalcopyrite. Iron, copper sulfide mineral. They got a mountain of this stuff, and while I was in Toronto, they were nice enough to tell me about their exploration program, which has just found another mountain of this stuff. In terms of the ability to just mint cash flow out of operations, K 92 has a lot of upside.

If you think that gold and silver, or if you think that gold and copper are going up, which they are, and which I also believe this is the kind of company that’s going to benefit from it. The price earning ratio is a little bit high just because of. Just. They’re still sort of digging out from some operational issues that were left over from COVID But, I mean, I hope you can sort of see here this kind of brassy looking thing.

This isn’t gold as such, but this is a gold rich chalcopyrite, which is a copper mineral. And like I said, they got mountains of this stuff down there. It’s. There’s an idea for you, so I’m going to throw another one out here just real quick. I had a nice visit with the people from a wonderful exploration company. It’s an exploration company. Okay. They are still exploring. It’s called Dolly Varden.

And they’re up in the British Columbia Northwest triangle. The golden triangle right up there. Or like, Alaska. It’s like, straight across street east from Ketchikan, you know, across the mountains into the. Into the. Into British Columbia. Here is a sample of the silver ore that this. I was up there last summer that I literally, I picked this rock up off the ground, and then I went back to the rock shop, and I, you know, back in their site there, and we took a rock saw, and we cut it open just to kind of see what’s in it.

This is the kind of silverish. This is a. This is a lead silver ore here, but very, very rich. This is what they’re finding up there. This is what they’re drilling. And I, you know, as an exploration play, they’ve got a lot of upside as a takeover play. They are a very, very attractive takeover play for somebody else who would like to, you know, consolidate the district. So there’s a couple, I think that’s the OTC version there.

And again, all these charts are going to have different looks on them. And that’s the same thing, similar to physical, where we’re like, you know, there’s so many different variations in the coins and the types and the grading and the mints and all that stuff. It’s the same thing with stocks, whether it’s gold or silver, they’re all different. They have different management teams. They have different goals. Some are producing metals, some aren’t.

So all these charts look different. And you got to get in there. You got to have someone that knows what they’re doing. Again, what we like about you, Byron, is you go there and check these places out. I go there with my boots and my hat on and my Rockhammer and my Brunton compass. And so there’s my Brunton compasses right there. And. Yeah, I go. I talk to the geos.

I talk to the engineers. I walk around, I pick up the. I look at stuff. I go into the core shack. I look everything. It’s real. I mean, we’re not. It’s not. It’s not smoke and mirrors, you know, when you. You know, I mean, when you. When you can. When you can walk away with. When you can walk away, when you can throw a sample in your backpack or a couple samples and, you know, bring them back through customs and everything, and Mexico is a pain in the butt.

They always. They always grab. They always steal my samples out of my suitcase. But, um. Long story there. But, uh, yeah, when. When you can bring this, like, that’s like, the one thing you can’t get across the southern border. Yeah. The one thing you can’t bring across is you can’t bring mineral samples back from Mexico. That, yeah. Anything else? Oh, what is this? You can’t bring this. Oh, for God’s sakes, why not? You know.

You know. Yep. So. Yeah. All right. So, Byron, what? Um, let’s do some last words on gold and silver. Anything. Do you have any predictions for where things might go? Anything for we’re in an election year or just the fact that inflation’s going crazy? Anything. What are some last words there? Well, I mean, gold and silver are bulking up for a reason. I mean, there are industrial reasons I mentioned earlier for silver because of the electronics revolution, solar panels, things like that.

Most electronics, I mean, your iPhone or whatever, there’s plenty of precious metals inside your iPhone, your computer screen, your computer. When I say there’s plenty of, I mean, it might be measured in grams or one or 2 grams, fractions of a gram, but you make hundreds of millions of these things. It adds up. Solar panels are a big demand source for silver going forward. The gold and the monetary silver are out there because people are just trying to get to safety.

If you’re watching this broadcast, the show, you’re probably getting into the idea that, gee, maybe we’d better look for an alternative to what we’re doing here. What are we doing? Well, $34 trillion of national debt speaks for itself. A trillion bucks every three months, which is what they’re talking about, speaks for itself. Way over a trillion dollars a year of interest on the national debt pretty much speaks for itself.

Talk about Thelma and Louise driving off the Grand Canyon in their car, in the convertible. Yay. You know, down they go. I mean, we are being run by, you know, political crazy people. It’s out of control. Congress. Congress. Is the country too big to govern, too complex to govern? I don’t know, maybe, you know, but we can talk about that all day. But if you have the slightest concern that this whole thing is not going to work out, well, you know, 5% into precious metals is, is probably not too much to ask.

And like the man said, it’s not that you will get wealthy on gold and silver, although, you know, when it goes up and you bought it, you bought it here and it goes there, you’re going to feel good about it, but you will, it is wealth and you will preserve your wealth, your purchasing power, your buying power over time, you know, while, while everybody’s watching tech and Nvidia and, you know, all the big techie things and everybody’s watching bitcoin.

But for the hard asset, metals, gold, silver, we could talk platinum, palladium, I hope you’re there, and I hope you, if you’re not there, get there. I hope you get interested in it, get educated in it. And that’s just the monetary metals. I mean, copper is doing really well. Nickel has sort of found a bottom. I mean, lithium, I mean, lithium had a real bubble earlier and it dropped.

But lithium is still out there. You know. You know, rarest uranium has been doing really well. There’s a little bit of a pullback right now. So now’s a good time if you’re not into uranium, you know, don’t, you know, not a bad time to get into it. Energy fuels is, I guess, one of my favorite companies. Energy fuels. Uuuu. Energy fuels. I visited their facility in Blanding, Utah, southeast Utah, where they do, they process uranium, vanadium, which is a very, very important.

It’s a battery metal and a steel hardener. It’s an alloying agent. And they have, they have just as we speak this month, they’re opening up a rare earth line, processing rare earths which go into magnets. So there’s a lot to talk about in the mines, metals, minerals, materials, space. It’s wide open and it’s so underinvested. I mentioned earlier, maybe half a percent of the s and p is mines and minerals.

It’s ridiculously low. And when you think about how much money is sitting there in these tech things and vaporware, software things like, okay, maybe these are great companies. I’m not going to say anything bad about the Microsofts of the world or anything else, but there is so much over there and so little over here that the asymmetry is just ridiculous. And all we need is just a small amount of sector rotation.

Our colleague Dan Amos talks about sector rotation. Wrote a little bit of this money out of here, put it into here. And these guys, these guys have explosive upside. All right, there you have it. That is a full rundown of gold. I know we went all over the place. We’re talking physical, we’re talking on the market all over the place. But if you want to know more about gold, how to keep playing it, how to stay up to speed now that we’ve hit all time highs, make sure you give us a like subscribe to our channel.

And if you’ve got any thoughts on gold or gold versus bitcoin, love to hear it in the comments below. We’ll see you next time. Thank you, Byron. .

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