Gold, Silver, PM's and Markets

PB1   I did something similar to dampen local taxation.  Here it involved splitting the will into two. One subject to probate and one not requiring probate.  After that split then have to deal with assets that Revenue Canada deems as a capital gain.  Capital gains taxes are due at death and it is the estate that is taxed not the individual.  That is very simple description. It is really complex and beyond the consideration of mere mortals.  Estate planners required up here.

https://www.petertheil.com/127154/

Report card on the 1st year of Carney.

Meanwhile a summary of Opposition leader Polievre trip to USA.

https://www.pressreader.com/canada/toronto-star/20260320/281586657120505

PB1   The list you posted was my book I sold a couple days ago to monetize profits. The only one I did not hold is Newmont.  I will start buying back soon but not yet.

Gold Miners: AISC/Profit Margin Leaders Q3/2025 ($/oz) ⛏️🪙
1. Artemis Gold: 2,649 👑 $ARTG.v
2. Lundin Gold: 2,598 $LUG.to
3. Dundee Precious Metals: 2,467 $DPM.to
4. Thor Explorations: 2,406 $THX.v
5. G Mining Ventures: 2,246 $GMIN.to
6. Agnico Eagle Mines: 1,999 $AEM
7. Greatland: $2,100 $GGP.L
8. K92 Mining: $2,031 $KNT.to
9. Alamos Gold: $1,984 $AGI
10. Newmont: $1,973 $NEM
* AISC Margin = Average realized gold price minus AISC (All-in Sustaining Costs) per gold ounce (USD)

Hey more than one member on board hey Holdgold!

PB1  Happy Anniversary.  Many more!!!!!!

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2742-tsx-venture/artg/199367-artemis-gold-appoints-george-salamis-to-board-of-directors.html

https://ceo.ca/@newsfile/gunnison-copper-announces-updated-preliminary-economic?mc_cid=2b2ad15a5e&mc_eid=e2b5b109f6

one of my pups!

On another subject, this kind of reporting really p!sses me off.

https://www.cnn.com/interactive/2026/03/climate/canada-turtle-deaths-otters-cnnphotos/

This is right in my backyard so to speak. This forms part of the Rideau Canal that was built by the British in 1830's to defend against attack from Americans. It is now a UNESCO WORLD HERITAGE SITE about 120 miles long.  This lake was only created as part of the canal between two locks. It is a very shallow lake.  Our biggest university has a research station on the lake.

https://qubs.ca/

The article cites people from another university near Algonquin Park much further north.  There are Turtle do gooder NGO's  all over the place here and turtles are everywhere in our waterways. To suggest that this issue was due to climate change or boaters/cottages is false. By the way, river otters are fun to watch playing around shorelines.

The human interaction is caused by otters becoming dominant due to lack of trapping any more.  If the otter population expands then they have to eat, that is nature. I see that as a good thing.  Also it was man that created the environment in the first place due to building the canal. It is not a natural lake. It is a large puddle created between two locks. Highlighting commercial fishing nets is also a false issue on that lake.  The real threat I have seen personally is homeless people harvesting turtle eggs on the shorelines near entrance of the canal  for food. No one talks about THAT problem though.

So why would CNN publish a story like this 4 years later? To increase readership? To appeal to uninformed environmentalists? To fill space?

A bigger problem I see is the proliferation of swans in this waterway. As little as 10 years ago we hardly saw any.  Now there are thousands of them and they do not seem to have a predator. They went nearly extinct and the government re introduced them to the area.   Same problem with wild turkeys that were also nearly extinct. They were reintroduced and they multiplied so much they are now chasing people and pets in suburbia.  Both disappeared years ago due to over hunting for food early in the 20th century.  Today few people are able or want to hunt them.

Good job I am near the end of my voyage on this rock or I would have been really pissed off!!!

Some times we just have to let things evolve naturally.

Ya know I have seen a few articles the last couple of days about how the oil increase is going to hurt the miners costs.  It may be a bit different from when I was working but we would thumb suck 40% of operating costs for fuel for open pit mines.  AISC for most miners is below $2000 and they are selling gold for over $5000 now. So the question is if oil goes up to say $150 and it is still 40% of operating costs  is that even significant when FCF is $3000 and ounce or more?  Also gold could rise more than oil this year.  In other words these writers are crying wolf when they should be pointing out reality. JMVHO.

So I did an online whisky tasting last night (ZOOM) with my regular group out of Calgary and we featured bottles from an American independent bottler.  The whiskies were very good and the guy was very knowledgeable.  These are the products we sampled and discussed.

             Tasting Order

SCN Glen Garioch 14 Year Old - 50.1%
SCN Glen Spey 14 Year Old - 57.5%
SCN Glen Elgin 17 Year Old - 57.5%
SCN Ben Nevis 12 Year Old - 56.4%
SCN Ardnamurchan 9 Year Old - 59%
SCN Epris Rum 12 Year Old - 52.7%
SCN Caol Ila 8 Year Old KWM Cask - 57.4%
SCN Williamson 9 Year Old KWM Cask - 57.4%

Of course to convert into American 50.1% = 100.2 proof.

This is the supplier:

https://singlecasknation.com/

https://ceo.ca/@newswire/collective-mining-acquires-all-of-the-remaining-surface?mc_cid=bfd901d15f&mc_eid=e2b5b109f6

one of my pups!

Silverfox  any influence from the CPI?

Notna  last time I saw John Disney was in South Africa. I did not hear he moved to Australia and figured he was on the other side of the grass.

https://s23.q4cdn.com/405985100/files/doc_downloads/2026/03/HBMNR6_HudbayAcquisitionofASCU_Final.pdf

I have large positions in both of these companies.   Yippee!

PB1   thanks for the link to wtf happened in 1971  brilliant statistical record thru the graphs.

Ah should have checked this first......

Oil Prices Back to $90

WTI crude futures turned negative in the late afternoon trading after briefly surging to $120 earlier in the session after the G7 said it stands ready to release oil from strategic reserves if needed. At the same time, President Trump said the war with Iran could be close to ending.

Turning off transponders. LSteve.  I remember 2017 when I spent most of the summer sailing around the Gulf of St Lawrence, fishing boats would turn off their transponders so other fishermen would not know where they were fishing.  Then we had to Coast Guard  turning off their transponders so they could sneak up on people fishing illegally. That made it damn scary for me in a sail boat when there was fog almost every morning.

OK as imagined my energy stocks are holding up the PM stocks.  Still down on portfolio however it looks like the PM stocks starting to climb out of the morning sh!t.  There is still hope especially with how the general stock market is behaving. My combined portfolio is still up over 16% in 2026 and both physicals I own are up as well.  Many years I was happy getting 16% for a full year not just 2 months. Onward we go, I guess this mess could be called a black swan?

https://www.cbc.ca/news/canada/montreal/bill-c-3-canadian-citizenship-by-descent-american-interest-9.7112724

I did not see this coming.  Was not aware that law was passed. Liberals will do anything to get more votes!!!!!

Is anyone here using Linox as an operating system instead of windows?  +/-?  I am fed up with Microsoft and thinking of getting rid of windows.

https://www.sprottmoney.ca/blog/gold-price-trends-long-term-bull-market-silver-mining-stocks?utm_source=Sprott+Money+Newsletter&utm_campaign=dd092fe770-Newsletter&utm_medium=email&utm_term=0_-4344335660-293677125&goal=0_0a3cfde35b-dd092fe770-293677125&mc_cid=dd092fe770&mc_eid=53be1a8529

Good advice for all here.

One of my Pups, up almost 13% yesterday.

https://bpsilvercorp.com/pdf/2026-02-27-bpag-nr.pdf

And another that was nicely up yesterday.

https://www.thesisgoldsilver.com/about/

GMIN  MAU   DPM  TXG  all up nicely yesterday. The rest of my portfolio including Ur and Oil sucked!

Sherlock: Oil prices would have to go really high before it would put a big dent into the FCF of miners.  Also I would hope that most miners have hedged out their oil needs for at least a year out so I do not believe it is an excuse for gold miners not going thru the roof. What other industry generates the cash flow of gold miners?

Out of the gate everything getting hit except oil stocks. They are keeping the portfolio green this morning. I do not understand why Ur stocks getting hammered.

It is ugly I know however as I look back I am still up 17% in 2026 just in the portfolio without looking at the physical.  Up to 2025 I would have been excited by that return. Physical gold seems to be up the same amount in 2026, about 17%.  Onward!

Lonestar. I will still be following the site and posting however maybe less effort on gold and more effort on whisky and gardening. I have been in the group since the late 90's and it becomes a part of life. I even won a golden anchovy once($319.90)! Unfortunately, most of the old timers are gone now. There are not many places where a person can talk about a passion for precious metals away from this kind of site. My surgeon the other day asked me what I did for a living before retirement and I said I developed gold projects in remote places and she just looked at me weird like and said, "Oh that is a new one!"

Yes Bufford. While you are investing in Nevada ( so am I)  I am focusing on British Columbia for the same reason.  Now that we do not have Turdhole blocking everything.  He is too busy being Katy's #1 fan.

Do not forget though that the physical reason  companies are taking off is the mineral prices today. What was explored for 20 years and deemed non economic is now economic at today's prices.  SO one needs to grab the companies that have picked up previously explored properties that were in the hands of large companies many years ago.  That is an almost guaranteed win.

https://ceo.ca/@newsfile/tajiri-extends-trench-16-at-yono-project-and-intersects?mc_cid=f0f974f41b&mc_eid=e2b5b109f6

one of my pups!

PB1 why not watch AlJazeera  they will tell you what is going on.

Well I am just back from day surgery. Had Lateral canthal tightening done to both eyes. I am a mess. Saw comments re the markets collapsing so I dreaded opening up my portfolio.  So to my surprise I am down 4% today. I was up 3% yesterday. So not that bad.  Ur & oil not lifting the load today. I think if people look at their stocks on a 3 month chart they will be surprised what most stocks are showing. The large upticks are wiped out but the trend is intact. I cannot look at a screen too long.  Shopping to do but will take time to figure out what to buy. Some of my pups are still green,

So back to precious metals for a while. My portfolio was up 3% today.  I will be happy with that anytime.

MERG is up bigly today at 18.9%  As mentioned earlier ASCU is flying now up 20% today. A couple of the PUPS!

These ones, I did not buy, only because I am at or over my limit $$ for the stock. TAU, NGEX, LUG,, MAU, HBM. Finally dumped my ELD.

Sherlock: we know what way the market will be going over the next while, so I look at this as a buying opportunity in my goldies.  Oil stocks and my pups are up well, Cu, Ur, Ag not so much.  Au mixed bag.  Time for surgical buying.

Are we ready for liftoff?

Course from this afternoon to understand the different non bourbon barrels used for maturing single malt whisky:

Wine number Type Name Cost CAD per 750 unless indicated

Sherry

1 Manzanilla Lustau Papirusa 25

2 Amontillado Lustau Los Arcos 19.95

3 Cream Williams and Humbert Dry Sack 18.10

4 Palo Cortado Gonzales Byass VORS 30 yr old 48.36 .375

5 Oloroso Gonzales Byass Nutty Solera 21.95

6 Pedro Ximenez Gonzales Byass VORS 30 yr old 48.83 .375


Port

7 Tawny Taylors 20 year old 73

8 Ruby Taylors First Estate 19.20

9 Late Bottled Vintage Grahams LBV 2020 21.95

10 Vintage Bulas 2017 46.95


Madeira

11 Malvasia Barbeito 5-Year-Old Malvasia Reserva


Vin Doux

Naturel

12 Vin Doux Naturel Chapoutier Rivesaltes 2015 25.95 .500


Dessert wine

13 Sauternes La Chapelle de Lafaurie-Peyraguey Sauternes 2015 40.95 .375

Sherlock, for clarity what is the difference between a pip and a pup?

By the close AGMR was up 18%.

BPAG 46%.

HART 13.64%

These % helped my portfolio as Ur was not kind to me today.

https://endurancegold.com/news-releases/endurance-gold-files-ni-43-101-technical-report-describing-the-inaugural-mineral-resource-estimate-for-the-reliance-gold-project/

here is another pup that recently put out a maiden resource.  This should work given current Au pricing.

https://frankgiustra.com/posts/the-fatal-attraction-of-gold/?utm_source=Frank+Giustra+Blog+Subscribers&utm_campaign=8b5709efc9-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_566bd50819-8b5709efc9-509775829

I was lucky to get a bottle of his famous olive oil a few years ago.

I missed this earlier!!

https://www.armstrongeconomics.com/uncategorized/canada-fines-man-750000-for-saying-there-are-only-2-genders/

https://www.miningweekly.com/article/nevada-tops-annual-global-mining-survey-rankings-china-ranks-last-2026-02-26

https://www.equinoxgold.com/news/equinox-gold-announces-normal-course-issuer-bid-for-common-shares/

Good news I expect we will see more of this.

AF I remember looking at that area in about 2006-2007.  At the time metal prices were not high enough to justify getting exploration properties.  Could not sell the story.

https://lundinmining.com/news/lundin-mining-announces-vicua-integrated-technical-study-results-highlighting-a-world-class-mining-district


this is good however look at

https://ngexminerals.com/projects/vicuna-district/lunahuasi/lunahuasi-overview/

notice the trend here.  I am long NGEX

So my top 5 stocks today:  All up!

EVER   18.2%
AGMR 15.35%
CNL   12.1
TXG   8.46
HMMC   7.9

AF I think you know all these pups!   I hear you re ELD, problem is I am tight cash and need to free up cash for better offerings.

Surprised after returning from hockey that my portfolio has returned to ATH on a day when gold is tanking.  That is something we do not see every day.

Looks like the hammering is stopping with less damage than usual.

https://ceo.ca/@newswire/collective-intercepts-5455-metres-704-gt-au-and?mc_cid=53c084f0db&mc_eid=e2b5b109f6

results just keep on coming.

https://www.cnbc.com/2026/02/24/panama-officially-voids-annuls-ck-hutchison-contracts-interim-control-maersk-msc-canal-dispute.html

This is big news for me. I lived in Panama late 90's.  My condo looked out over the canal. If I opened my windows for a breeze, depending on wind direction,  I could also get soot from the ships on my condo floor.

Silver Fox  I do not follow those two companies. One thing is clear, in Canada as well as USA is that projects that have been kicked at for years and nothing done due to commodity price, are waking up and able to produce interesting results given NEW prices for the commodities.

The other thing that is happening is the fast tracking of projects.   Fast is relative, however 10 years is better than the 20-25 years we are used to historically.