financing completed and exploration programs underway.no follow up work despite high grade drill intercepts (157 g/t over 1.5m).low-sulphidation epithermal gold & silver property on prolific Nevada gold belt.new management recently took control of company.It has the potential to be a company maker just like the Midas.īlackrock Gold TSXV:BRC OTC:BKRRF Recent Price - $0.12 Blackrock Gold Corp.'s (BRC:TSX.V) property is near Midas with the same kind of structures, but has seen little exploration since 2002. What first drove the early success of Franco Nevada was the famous Ken Snyder Mine that is still in production today as the Midas Mine. I mean buying at $1 to $3, which was considered a gold penny stock in those days. Old subscribers will remember the fortunes we made with Franco Nevada and Euro Nevada back in the 1990s as penny stocks. Initial drilling by Placer Dome, a senior company since bought out by Barrick and Teck Cominco, hit some high grade intersects. Back then, we were at the depths of the gold bear market when gold had dropped under $300 per ounce. It has an excellent property in Nevada that has not seen a targeted drill program since 2002, despite multiple high-grade intercepts. I have come across another exceptional junior explorer and now is perfect timing to get a position in this stock. Now is perfect timing to buy quality junior explorers, the ones that will appreciate the most. The juniors can move several 100% in just a small move on the HUI, as we witnessed in 2016. This is about the level that sentiment will start to improve and the junior explorers start moving. The index has cleared the first resistance and a little further and it will breach the second resistance level. The HUI consists of more senior gold producers and this index leads the junior explorers. However, as sentiment above shows, there is little belief in this rally so far. It is up 34% since the 150 low in May and up 87% from the 2015 low. The HUI (NYSE ARCA Gold Bugs Index) around 200 has just made fresh highs in this rally. Today's reading at 0.27 is not much above the 0.20 bottom in 2015 and has not responded much at all to the recent rally in gold. Many use the GDXJ (VanEck Vectors Junior Gold Miners ETF) to gold price ratio as a measurement and I believe it is an accurate indicator of sentiment with gold stocks. No matter how you slice and dice it, gold has started a new bull market.Īll bull markets start with skepticism and disbelief. At the recent high of $1441, the price is up 37% from that low and up 22% from the $1180 low in 2018. That is a 30% rise, easily qualifying as a bull market, which is defined as a 20% rise. From the $1050 bottom in gold, late 2015, prices ran up to $1360 in about 6 months to July 2016. Gold and gold stocks have technically been in a bull market since the bottom in late 2015. Global monetary policy has shifted 180 degrees and will continue to be a driving force toward higher gold prices and gold equities. Gold-backed ETFs captured US$5 billion or 108 tonnes year to date, led by European funds. Central banks continue as big buyers in the market, accumulating approximately 247 tonnes though May.
It states the central banks across the globe have signaled a more accommodating stance, bringing bond yields to multi-year lows-and in some countries all time lows. The World Gold Council issued its mid-year outlook last week and trends are very bullish.
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