Silver Chart Showing Massive Upside says Don Durrett
Professional mining stock investor Don Durrett of GoldStockData.com returns to the show to discuss the current precious metals market and share his thoughts on today’s junior gold sector. Don’s technical analysis of the silver chart concludes that “the silver chart is actually stronger than the gold chart” in regards to its potential upside. Don has been investing in mining stocks since the early 1990’s. He is the author of “How to Invest in Gold and Silver: A Complete Guide with a Focus on Mining Stocks” which conveys Don’s well-thought out and tried approach to mining stock investing.
0:00 Introduction
1:30 Silver chart massive upside
4:32 When to sell silver stocks
9:27 Gold goes up whether economy goes up or down?
12:20 Ideal merger or acquisition
15:33 Kirkland Lake Gold’s share repurchase program
19:05 Market rewards free cash flow
21:25 Large bulk-tonnage deposits
23:49 Feedback from subscribers
Don’s website: https://www.goldstockdata.com/
Don’s book on Amazon: https://amzn.to/2WBHKPP
Follow Don on Twitter: https://twitter.com/DonDurrett
Great Interview. I would like to comment on a couple of Don’s points.
1. Kirkland Lake acquisition of Detour and Share buyback: KL acquired Detour with Stock. I believe KL issued approx 400M shares to execute the acquisition. They are currently buying back shares at a discount to the SP when acquisition was made…I think very shrewd move by management. It is important to recognize that KL great margins are due to the Swan zone at Fosterville. They have not clearly shown that they can replace these high grade ounces…This has also put downward pressure on SP. I recall a reserve report earlier this year that showed this problem, Hopefully, their exploration efforts are successful in delineating more high grade ore at Fosterville.
2. Guyana Goldfields: Don indicated GUY could be a 5 bagger…For those who don’t know the history, this company was a “scam” in that the mine plan was built on a faulty model….and the gold was not there! I was invested through the mine build and had a 4x return in 2016…I did not take profits and eventually sold at a loss…lesson learned. I don’t follow GUY in the last year, but they seemed challEnged to overcome the misrepresentation of the ore body and executive infighting…Maybe the underground potential was working out. I considered it dead money
3. Totally agree with Wesdome