Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / Gold & SILVER STACKERS 🚨 ALERT! 🚨 -- STUNNING Massive NEWS Update for GOLD Miners & SILVER Price!

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Gold & SILVER STACKERS 🚨 ALERT! 🚨 -- STUNNING Massive NEWS Update for GOLD Miners & SILVER Price! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

0:00
It was really good for gold to have that correction.
0:04
I think it's as I spoke this morning before you and I put an
0:08
update to my readers and clients.
0:10
I really think much of that correction is over.
0:21
You might be wondering what does the future hold for gold,
0:24
silver, the precious metal mining stocks?
0:27
None of us knows for sure, but today we have a special guest,
0:30
Peter Grandich. He has decades of experience on
0:33
Wall Street analyzing the precious metals, analyzing the
0:37
precious metal mining stocks. One thing we can count on from
0:40
him is his true honest opinion about where we've been and where
0:44
we're going. Peter, welcome to Ron's
0:46
basement. Ronnie, I say this in all
0:49
sincerity. You're one of the few people
0:50
that I most look forward to speaking with.
0:53
But I'm a little concerned since our last chat.
0:56
Your basement looks a lot more clogged.
0:59
So maybe you had a really good move in that metals move or
1:04
maybe you need to do a little spring cleaning in the fall.
1:07
Yeah, I'll, I'll be sure to clean it up, Peter, before our
1:10
next our next meeting. So, you know, I remember you 678
1:14
weeks ago listening to you during interviews and, and you'd
1:18
predicted that we might have a pull back in the metals prices,
1:22
that it would be healthy. And you said that independent
1:24
of, you know, obviously any knowledge of how the
1:26
presidential election would turn out.
1:29
Obviously, since Donald Trump has been elected president,
1:32
we've had a a bit of a pullback in both the gold and the silver
1:36
price and the precious metal mining stocks.
1:38
What do you make of all this when you look at the big picture
1:41
and and, and where do you see us potentially heading as we go
1:44
into 2025? South, Those of us who
1:49
supposedly make a living look into a crystal ball.
1:51
The only thing we really become experts on is eating a lot of
1:54
broken glass from a broken crystal ball because we end up
1:59
being wrong. But in this case it was
2:00
fortunate. I had been long gold from under
2:02
$1300 and it really got to a point where it's very
2:08
overextended. All the people with predictions
2:11
of five and 10,000 around the corner and all so almost
2:16
literally at the high for myself, I decided it was time to
2:20
take my physical bullion profits.
2:22
Also, major mining shares that have been bought early in the
2:25
year when they bottomed around February on the belief that two
2:31
of the things that were accelerating gold were peaking
2:34
at the moment, not knowing whether it will get to Trump and
2:37
the Harrison in a minute. 1 was we were just finishing up the
2:41
brick movement and a lot of the movement in the gold market was
2:45
anticipation of that meeting. And what people tend to do is
2:49
they kind of sense buy the rumor and sell the news.
2:52
I felt once that meeting took place, it won't be till next
2:55
spring or summer that we start hearing from them again about
2:57
the next things they're going to be doing.
2:59
That was number one. Number two was there were signs
3:02
that at least for the time being, the bullion banks, I'm
3:05
sorry, the central banks were slowing their purchases down,
3:08
particularly China. So that was 'cause enough.
3:12
It just so happened that after I took those profits, the Trump
3:17
win or what I like to call this to some the second coming of
3:21
Christ seems to be Trump based on all the optimism that has
3:26
come about. That also has been a negative
3:28
because the world somehow thinks it's going to be a safer and
3:31
better place and gold maybe not be as needed.
3:34
But here's the most important thing of all that, Ron.
3:37
It was really, really good for anybody that's still bullish.
3:41
We we, we rose 40%. Gold is not, you know, people
3:46
talk about Bitcoin being a reserve currency.
3:48
You know, reserve currencies, true reserve shouldn't move 40
3:52
or 50% in a year, let alone in a week up and down like Bitcoin
3:56
can and all. So it was really good for gold
4:00
to have that correction. I think it's as I spoke this
4:04
morning before you and I put an update to my readers and
4:07
clients, I really think much of that correction is over.
4:11
Is it still possible we dip towards 2500?
4:14
Yeah. Is it theoretically possible we
4:17
can go all the way to 2300 and still being a bull mark?
4:20
Yes, I don't think that's the case.
4:22
I think the bottom is being made now.
4:25
But on the other hand, Ron, I also think at least for the
4:28
balance of this year, we're going to go into a trading
4:31
range. There's nothing catalystic that
4:34
I see that could suddenly vault it back up, but that's all good
4:39
for any of us like me who still think 3000 plus is going to be
4:43
the number, if not higher. That's all good for the future
4:47
if you're looking just past your nose.
4:50
Yeah, yeah. And, and you and I talked before
4:52
we before we came live here about the fact that over the
4:57
years, over the decades, and you've watched gold and silver a
5:00
little bit longer than I have. Even pull backs are normal,
5:03
right? I mean, it feels like everyone
5:05
in the precious metal sector, not everyone, but a lot of
5:08
people are like, oh gosh, it's over and out, you know, But I
5:11
mean, gold is down what, 7 percent, 8% from its recent
5:15
high. And if you look at it past
5:17
performance during gold, gold and silver bull markets for that
5:21
matter, all of the metals will have numerous, numerous
5:25
occasions where they pull back 891012, sometimes even 15%
5:30
during these multi year bull markets.
5:33
If you're looking to buy gold, silver or platinum, do yourself
5:37
a favor and check out Pymbek's, the online precious metals
5:40
bullion dealer and sponsor of Ron's Basement.
5:44
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5:47
channel. You'll find they have the best
5:50
prices, quality and service. I think Pembex's best and you
5:55
will too. And be sure to tell him that
5:57
you're from Ron's basement. The largest whiners are the
6:01
people that tend to also own the largest junior resource stocks.
6:04
I know that I'm one of them. There's a 2.
6:07
So what happened was when we see the pullback, we go.
6:11
My shares never got to go going. Now gold's going down.
6:13
I'm done. There's no way they're going to
6:15
go up without, you know, gold going up and all.
6:18
They tend to be the loudest of those calls.
6:20
But here's the important thing to remember in a cyclical bull
6:23
market, which gold has been in for several years.
6:26
OK, sharp but hard corrections are the norm.
6:32
I'd be more concerned if we were dripping down 20, rally in 10,
6:36
dripping down another dirty rally in 15, a rolling over
6:40
effect. These type of sharp and swift
6:42
corrections. Let's remember one other thing.
6:44
This is important. I'm not going to get into all
6:47
the conspiracies about gold cartels and all this stuff and
6:50
all, but gold is still treated like kryptonite by the major
6:54
financial world. Has always been, always will be,
6:59
and there's always those people poke their heads out during the
7:03
corrections. I told you, I told you you
7:05
shouldn't own gold. And now it has a steal.
7:09
A competitor, so to speak, where most of those people are pushing
7:12
real hard on Bitcoin, trying to say steal again.
7:15
Let's not forget it was just a couple years ago when gold was
7:18
at 1600 and crypt and cryptocurrency Bitcoin was near
7:22
70. Gold's going to 0.
7:24
It's a relic. Bitcoin's the new gold.
7:27
Well, you know what? All right, Bitcoin made it to 90
7:29
from 70, but we've gone from 1600 the 28 trading around 2600.
7:34
So all these things, your your viewers and I, and I know this
7:38
fits also for silver. All your viewers need to know
7:42
this is just a correction in the cyclical bull market that still
7:46
has a way to go in my view. Yeah.
7:49
Yeah, and, and, and yes, we've had this.
7:52
I, I termed it yesterday morning the, the Trump slump in the
7:56
precious metals market. But when we look at the big
7:59
picture of what's going on in this country, you know,
8:03
regardless of whether Donald Trump is president, whoever
8:06
would have been president just this morning, we rolled over or
8:10
achieved a new $36 trillion national debt level.
8:14
That's not going away. And, and as we, you know, it
8:18
seems like I could like, like you said, like everyone thinks,
8:20
oh, this is the, the new Messiah, you know, the new
8:22
savior and everything's great now in the world.
8:25
But that doesn't erase the $36 trillion debt in the interest
8:29
payments that are going to be made and the fact that we still
8:32
have a deficit. Any thoughts on on as we head in
8:35
the next year, how how things even like looking at the bond
8:39
market, how things might be impacted by by what is a just
8:42
incredibly high debt level at this point?
8:45
Well, I went to look at Bible verses where the second coming
8:48
is spoken of and there were no pictures of Trump there.
8:52
As much as some people want to believe that.
8:53
I think it's 1000 times better than he won, than Harris won,
8:57
but nevertheless. But one thing I think you can
9:00
count on, no question about it, he and the Senate and the
9:05
Congress, Republicans, whatever, they are just going to keep
9:10
spending more than we make and accelerate because you can't
9:14
make all these promises as he says, well, I'm not going to
9:17
have this person pay taxes and those that pay Social Security
9:20
owner to pay taxes. And if you own cryptocurrency,
9:22
you're not going to pay taxes at all.
9:23
You still need money to run the government, OK.
9:26
And you talk about efficiencies and guys are going to come in,
9:29
Musk and all, and we're going to save hundreds of billions of
9:33
dollars maybe and so forth. Easier said than done.
9:36
And remember this, these bureaucrats that he talks about
9:40
the swamp or what everybody wants to call, there's a lot
9:43
more of them. It's not just one or two people.
9:46
It's a way of life for people. And they can do a lot to
9:49
sabotage that ability to do that.
9:53
And it's not like you can just pull them out and get new people
9:56
and replace them to do what they do.
9:57
So there's a honeymoon period. Now this is very important.
10:00
If you mind me sharing this wrong.
10:02
It's a honeymoon period. It's, it also gets enhanced by a
10:05
period that I call to say no to Bah, humbug advice.
10:10
Meaning between Thanksgiving and New Year's, people don't want to
10:14
hear any negative news. Doesn't matter whether you were
10:16
absolutely right or whatever. You can't speak to people and
10:19
start saying, hey, listen, I really think the, the economy is
10:22
going to crash. The debt's going to kill us and
10:24
all because the most average people are in a positive mood
10:27
that the other eleven months they're not.
10:30
So this honeymoon period will be enhanced this melt up period
10:34
that's going on because of that. But if you're looking past this
10:38
year and really looking well into 2025 and 2026, a lot of the
10:43
key issues that were out there before his win are there and
10:47
they're not likely to get better.
10:49
They're only get worse. And the number one is the debt.
10:52
No. And, and, and, and I always say
10:54
that I'm not at this is not a political show.
10:56
And what we do is analyze what's going on kind of from a big
11:00
picture is I think for you and I, one of the things we're
11:04
focused on is the value of silver and gold.
11:06
And when I look at Trump, OK, I love I, I, I love the fact that
11:10
you called it a honeymoon period because that's what it feels
11:12
like. You finally put into words what
11:15
I've been feeling here for the last 8-9 ten days that like
11:19
everything's wonderful. You know, everybody's in love
11:22
and well, not the Harris by Harris Walls supporters, but
11:27
everything in the world's going to be great.
11:28
And the remains that that that this debt level's not gone.
11:32
And I want to point out one more thing about Trump as well.
11:35
I'm going to be curious to get your thoughts on this because he
11:37
has made a lot of promises, right?
11:38
No more, no more taxes on tips, no more taxes on Social
11:41
Security, no more, you know, just a whole slew of grandiose
11:45
promises. But when you look at Donald
11:48
Trump's background as both a president and a businessman, do
11:52
you think it's safe to say that he's he's not a person who is
11:55
generally, he has not embraced austerity, that he's been a guy
12:00
who's spent a lot of money and racked up a lot of debt and even
12:05
gotten himself into some trouble with debt over the years.
12:07
So why suddenly everybody thinks that he's going to kind of
12:11
revamp the government and, and balance the budget and, you
12:15
know, even think about making a dent in the national debt?
12:17
To me is is a little bit, you know, of a fantasy well.
12:24
What he has going for him and like you said, remembering this
12:27
is not a political show and nor do I get too political compared
12:31
to what he was running against The absurdity of literally what
12:37
they had done for four years and then not present any rational
12:42
plan other than we're going to make change.
12:46
You're going to make change. You're the part of the reasons
12:48
of the things that we're changing from.
12:50
So he gets that extra boost too. But also understand this and
12:53
this is going to come to focus after the honeymoon period's
12:56
over as we get into 2025. There has been a core of people
13:01
that ever since that man came down the escalator in 2016 to
13:05
announce he was going to run for president.
13:07
Absolutely despise everything about him.
13:10
Hate, hate that's evil filled. OK.
13:15
I from what little I've seen since the election, they're only
13:18
accelerating that hate. They're not getting to the
13:21
point. You know, maybe it's time we try
13:22
to work it out with him. Maybe we got to try to find ways
13:25
to mutual. No.
13:26
So past this honeymoon period, past the inauguration, getting
13:31
into spring of next year, he's going to be challenging.
13:34
Let me just close with this on the political end.
13:37
He doesn't have four years. He has two years.
13:39
Ron. The reason I say that is we have
13:41
the congressional election again in 2026.
13:44
There always tends to be a little bit of a reversal when
13:47
the other from the past one. We also have a series of
13:50
senators up for election and there's far more Republican
13:54
sitting senators up for election in 2026 than there are
13:59
Democrats. If he doesn't hit the ground
14:01
running and get a lot of success, those guys and gals are
14:04
going to be worried about their re election.
14:06
They may not stand with him as much if it doesn't all work out.
14:09
So it's not this is of honor that the don't worry, be happy
14:13
crowd on Wall Street. Like I said, it's like a second
14:15
coming as if Christ has already arrived here.
14:19
They got a period. This melt up could last, you
14:21
know, several weeks, especially in through the holiday season.
14:24
But it's not a slam dunk. And I, again, I always go back
14:28
to the number one problem is America, because I see it in my
14:31
planning group, has been living beyond its means.
14:34
The average family spends more than they take in, and the
14:37
government does that 10 times worse.
14:39
And that can't continue. There's not an endless supply of
14:42
being able to do that, irregardless of who the
14:45
president is. Yeah.
14:46
Yeah. So when you look out to 2025,
14:49
Peter, I'm going to ask you a a big blanket question.
14:52
Is there anything that scares you as we look out in the next
14:55
year? I think 2024, a lot of people
14:58
were predicting, you know, some big turmoil, the big election.
15:03
We didn't have, you know, we had some big events, but I don't
15:05
think any big major events. Is there anything that scares
15:07
you when you look out to 2025? Other than that, I'm getting
15:11
older and approaching mortality faster.
15:17
I would just tell you that when you set a bar high, because the
15:20
market now, since this election has really set the bar very
15:23
high, you have very little room for error.
15:26
And in fact, slip UPS, which would have been viewed as slips
15:29
up now look like major falls. I think that would be the
15:33
biggest. But the thing that I've been
15:34
eyeing that I've been Speaking of and spoken again today in,
15:37
in, in a, in a commentary I made to my readers and all, the
15:42
biggest fear for the stock market right now is interest
15:45
rates. And despite the Fed cutting
15:48
twice, the 10 year is actually gone substantially higher and
15:53
not lower. And when you look at one of the
15:55
handful of brilliant people in the world tomorrow, this guy
15:58
would take my money. I would sell all my juniors and
16:01
just give it to him because that's how good he is.
16:04
Stanley Drunken Miller is my biggest hero.
16:07
He has really, he's gone very short this the bond market, very
16:11
concerned about rising interest rates in an environment where
16:14
everything is going lower. And then you got a guy like
16:16
Warren Buffett who you can make fun of, you can make all the
16:19
jokes you want. How many people have done better
16:22
than him in the last twenty, 30-40 years?
16:25
This man is selling a lot of stocks, not buying a lot of
16:28
stocks and all. So I think that the, the concern
16:32
would be is interest rates. That's what we have to watch.
16:35
We, we, we're being told by the Fed inflation's controlled and
16:39
you know, same people had said it was never coming in the 1st
16:41
place. And then of course, the change,
16:44
the people who remember now we're going to get a wholesale
16:47
change of people running government and all, and all, we
16:50
all know yet what their exact plans are going to be.
16:53
I, I really think the surprise is going to be is that he's
16:56
going to be more open to spending money than even the
17:00
Biden administration was. Because if you remember this,
17:03
the key to Trump before COVID, he did a huge tax.
17:08
But if you remember and he said, well, I'm willing to spend
17:11
trillions of dollars more because it will grow the economy
17:15
and the higher growth of the economy will help pay down that
17:19
debt in the future. Well, we never knew if it could
17:21
work because COVID came. So you can't blame COVID that it
17:25
didn't work for him at all. I think he's going to take that
17:27
same attitude, especially since he's not worried about running
17:30
again. So I think one of the other
17:32
things that will concern me is Trump could become a big, big
17:35
spender, bigger spender than some thought of.
17:38
But we won't know that until the, you know, the several weeks
17:40
pass by and his administration takes hold and we start to see
17:44
the what they're actually trying to accomplish in the Senate and
17:47
Congress. Yeah, yeah, 2.
17:49
Two more questions, Peter. And what the 1st?
17:51
Relate allow three Ronnie that's.
17:54
OK, Thank you. But as, as we talk about these
17:57
interest rates going up and we talked about Trump spending and
18:00
obviously we've already talked about now $36 trillion in debt,
18:04
is that debt is that spending increases and potentially
18:08
deficits increase and interest rates at the same time, because
18:12
we know that the world is not as receptive to buying our debt as
18:18
they were in the past. I mean, could we get into a
18:20
situation like we're, we're really truly in a debt spiral?
18:24
I mean, if the, if the national debt level continues to go up
18:28
and the interest rates continue to also go up, I mean, don't we
18:32
like pretty quickly reach a point where the managing that
18:35
debt is, I think the correct word is untenable.
18:38
Like it just doesn't work anymore.
18:40
Did you? Do you have any any thoughts on
18:42
that, Peter? First Mining Gold is a
18:44
development company advancing 2. Of the largest gold projects.
18:48
In Canada, Spring Pole in Ontario and Duparque, located in
18:53
Quebec, each already has 5 million ounces of gold reserves,
18:58
but exploration initiatives are underway at both projects to
19:02
find even more gold. First Mining is well financed,
19:07
has zero debt and owns an interest and four additional
19:11
Canadian gold development projects.
19:13
Yeah. So the Congressional Budget
19:15
Office earlier this year, which is if there is anything left to
19:19
bipartisanship in Washington, it is it.
19:22
They came out with a forecast that the the debt is going to go
19:25
to 54 trillion. And I would be surprised that
19:29
they come up with a new forecast where it may come to that even
19:33
faster than they thought over the next eight to 10 years.
19:36
And their forecast also didn't include a major recession, which
19:40
if it happens, that'll speed it up.
19:41
But let's just say it gets, let's just say it gets to 50
19:44
trillion in the next 3, five or whatever years.
19:47
At $50 trillion in a 5% interest rate, that's 2.5 trillion in an
19:53
interest expense. The bestest government has ever
19:56
done was in 2022. We did just around 5 trillion in
20:01
revenue. So we'll be talking half of
20:06
revenue from 20 and even that gets boosted up and increases
20:09
somewhat. It's unsustainable.
20:12
We're going to pay anywhere to 40 to 50% of our income just to
20:15
pay our national interest debt. That's the big concern.
20:19
That's why I believe central banks around the world have been
20:22
big buyers of gold. That's why the bricks are
20:25
forming for that and a lot of other reasons.
20:27
And while this is a. I have a storm like we went
20:30
through a hurricane and now Trump is the eye.
20:32
So it looks like things are, oh, look, the sun came out again.
20:36
We haven't seen the second leg of that.
20:38
And what you speak about is where the second leg would be
20:41
formed. And I'm still concerned that
20:43
that is going to happen because there's no movement.
20:45
In fact, like I just said a few minutes ago, I think we're going
20:48
to accelerate thanks to Trump on the debt level.
20:51
Yeah, Yeah. And then I mean, we could get to
20:53
a point where just in order to get the interest rates down to a
20:57
manageable level, the only option is for the Fed to
21:00
monetize the debt, to print money and for the Fed to buy the
21:03
debt, which obviously would be tremendously supportive to the
21:07
gold and silver price. Well, I'll tell you when people
21:10
say the Fed isn't political, I believe the 50 point basis cut
21:14
had a lot to do with the hope that Biden would be in.
21:17
All you have to do is look at Rome Powells answer at his
21:19
latest conference when the word Trump is mentioned.
21:22
OK, so here you got to cut A50 basis point, you get a cut a
21:27
.25. And then he says in a conference
21:29
this week, well, you know, I don't think interest rates are
21:31
going to have to go lower that anytime soon and you know,
21:34
yadda, yadda, yadda. And so I think the surprise is
21:37
going to be is that interest rates will not go as low as
21:40
people thought they would be. They'll actually bump higher.
21:43
And I again, tell your viewers watch the 450 on the 10 year we
21:47
get a few days above that. We're going to one of the things
21:50
that that's going to cause if there's still regular investors
21:53
out there and not trading the casino like atmosphere where
21:56
it's just algorithms and some stuff.
21:58
Bonds have become for the first time in 22 years based on models
22:03
more attractive than stocks based on historical going back,
22:06
you know, 100 years, a further bump up in rates while the stock
22:11
market still valuations go higher.
22:13
Those type of traders that still exist, investors out there are
22:17
going to have to start to look at bonds over stocks.
22:19
So we could get a fairly sharp downdraft after this melt up.
22:23
Yeah. Yeah.
22:25
OK. My second question and I have
22:27
one more after this is you became famous back in the late
22:32
80s around 1987, correct me if I'm wrong, because you predicted
22:37
the 1987 kind of stock market meltdown and you were on the
22:43
CNBCS of the day. You know, we're on every major
22:46
news network. And I want to ask you now, today
22:50
as compared to 1987, which was what 40 years ago or 30 years
22:56
ago, how did things feel now to you compared to back then in
23:02
any, any commentary on that, Peter?
23:04
Well, you know, I'm not one to pat myself on the back, but I
23:07
was not only fortunate to step aside in 87, I stepped aside in
23:11
2000 and in 2007. This is so much more.
23:17
I'll tell you the two things that are dramatically different
23:19
from them. First of all, understand I was
23:21
28 years old. What?
23:23
No, I was like 20. No, it's true.
23:25
I was 30 years old. I was in the business three
23:27
years, how I forecasted it and then the next day to tell
23:29
everybody we're going back to a new high in two years.
23:32
What I knew then and what I knew now, It's just, it's just so
23:35
much different. I God had his hand in that
23:38
because there's no way my intelligence should have
23:40
generated that thought. But having said all that, the
23:42
two big differences are the fundamentals of far, far worse
23:46
that we didn't have the debt, we didn't have a we were still
23:50
popular in the world. All sorts of fundamental
23:53
arguments I think you can make now that there's so many more
23:56
concerns. And then, but the single biggest
23:58
thing now, the level of complacency among investors and
24:03
the professional community right now, this skyrocketed higher
24:08
than anything back then. In fact, what didn't exist then
24:11
that exists now. Do you know that four out of A10
24:15
licensed financial advisors right now weren't even born when
24:19
I made that forecast in 1987? And I'm not making fun of them.
24:23
I'm not saying that some of them can't be brilliant at all, but
24:26
these younger folks have been brought up on driving on a one
24:30
way St. run in their careers other than, Oh my God, they're
24:34
doing construction. So they turned.
24:35
It was a, you know, a serious correction or, you know, the
24:39
COVID hit. But they didn't have to stay
24:42
that long on the detour and they were back on the road and
24:44
putting back cruise control and just sitting there going, wow,
24:47
this is easy. This is good.
24:49
If and when there ever becomes a bear market that's sustainable
24:53
past a few weeks or a few months, I don't think they or
24:56
the investment community. And I'll tell you one last
24:58
thing, if I may, in the planning group that that we're part that
25:02
I'm part of in the US still 7 out of 10 families walking in
25:07
are spending more than they they make.
25:09
They're living a lifestyle above.
25:12
They're borrowing for the future.
25:14
They're buying, borrowing for car leases, they're deferring
25:18
maintenance to their homes. They're not adding to their
25:20
retirement savings and all so they can live a lifestyle higher
25:24
than they should be in all. And one of the engines that's
25:27
allowed them to do that is the above average returns they were
25:30
getting in the stock market. Even if the market doesn't go
25:33
down a lot, but it doesn't start to keep high single digit,
25:37
double digit returns. These people's lifestyle are in
25:40
a big traumatic problem. So these are things that are not
25:43
going to be discussed clearly in the non bond humbug period
25:47
between Thanksgiving and New Year's.
25:49
But if you still invest for years and not minutes and hours
25:53
and days as long term they should be something that you
25:56
should be concerned about. Yeah, Yeah.
25:58
Thank you. Thank you, Peter.
25:59
Now you and I love to invest in junior gold mining companies,
26:04
exploration companies or resource junior resource
26:07
companies. I want to talk about something
26:10
which is good, which happened recently and that's with a stock
26:13
that you and I both own Cantera. We aren't giving financial
26:17
advice. Neither of us obviously are are
26:20
full disclaimer in that it is a stock I know that I own and I
26:23
think I can say that you own as well.
26:25
Any commentary on that? That's really been moving lately
26:28
and I've talked with the CEO, you've talked with the CEO seems
26:32
like a great story. What are your any thoughts you
26:35
want to share with with us regarding Cantera?
26:38
Fortuna Mining is a global intermediate gold and silver
26:42
producer since 2005. Fortuna's best in class
26:46
management has delivered impressive growth and profits.
26:50
Fortuna's solid financial position and operational
26:54
expertise allows for performance in any precious metals price
26:58
cycle, but also provides a foundation from which to harvest
27:02
robust profits in more favorable metals markets.
27:06
Investing in Fortuna is an investment in quality, long
27:10
term, sustainable production of in demand precious and base
27:15
metals. So first, let me make a couple
27:18
disclosures. 1, you have to be mentally and financially
27:22
prepared to lose part of all your capital.
27:24
And if you're not, don't even think about this consideration.
27:27
2, I am beyond any legitimate whole level of holdings in
27:34
juniors. I bet the ranch.
27:35
I bet the basement I was in the other room so I can't talk that
27:39
loud because she's already concerned about how far I've
27:42
gone. But having said all that, the
27:45
bulk of my investments now are in junior resource stocks.
27:49
And the reason is this, the metals have moved greatly and
27:52
like we just discussed, the correction is ending could go
27:56
higher. The major mining companies are
27:59
cash flow cows now. They are just remember and and
28:03
two of their biggest costs are going down, particularly oil.
28:06
So they're going to just they're going to be cash, free cash flow
28:11
machines. These majors whether they
28:13
produce 1,000,000 oz a year, some produce as many as 5
28:16
million oz a year, that's 5 million oz this year that they
28:20
produce. They got to find 5 million for
28:22
10 years from now and so forth of trouble.
28:25
They have not spent a ton of money over a lot of years
28:27
looking for new resources. They're going to have one and
28:30
really only one option, go find ready made resources and all.
28:35
So I'm expecting M&A to be really, really increased in
28:39
2025. The junior market which we can
28:42
spend hours on why it hasn't done what it should and all the
28:45
other stuff and all. There are projects out there now
28:49
where metals in the ground for gold are as little as $5 and no
28:54
more than $20.00 an ounce. The estimate is if a major
28:59
wanted to go out now and start on their own, by the end of the
29:02
day they'd spend between 100 to $200.00 an ounce to get that
29:05
medals. So I think juniors in general
29:09
are going to finally have the year we've all waited for and
29:12
expected the last two years. But everything is set up now for
29:15
them. And in that, this particular
29:17
company that you speak of, Canterra Minerals, they did
29:20
something. And of course it's led by
29:22
Michael Chantelius. He's the person that identified
29:25
it to me is they used the adversity in the junior market
29:29
to create opportunity themselves.
29:31
They went out and got areas where different people that own
29:36
different projects, etcetera, etcetera, who in a bull market
29:40
would never consider giving up their projects.
29:43
But things were so tough, they couldn't raise money.
29:45
They had they were at the they were running on fumes and
29:48
consolidated a land package in Newfoundland, where in the last
29:54
two years, significant majors have gone in mid tiers have gone
29:59
in and and paid a lot of money now for projects that were
30:03
successful and identified good resources.
30:07
And they did this under a stealth like market where no one
30:13
was really looking at them. So the other day they announced
30:18
their first drill results from their major.
30:21
I was blown away by it. Stock was, it was a 10 to $12
30:26
million market cap. I, I haven't even had a chance
30:28
to publicly announce this. So I am going to, when we're
30:31
done, put it out. But it's now come my third
30:34
largest holding it. And it's, it's a dream that you
30:38
hope for all the things that are being set for.
30:40
But again, I want your, your viewers, you're in the basement
30:44
because from some of your losses, you're not up in the
30:46
penthouse. I know that feeling.
30:48
I've been there, but it is one of several stories like that out
30:53
there. And I just feel that if I'm
30:55
going to take a shot and gamble because that's what, listen,
30:59
when you hear people, can I tell this to your viewers?
31:02
You hear people say we're speculating.
31:04
No, we're gambling. Wall Street created the word
31:08
speculating, so it doesn't say gambling.
31:10
You have to be prepared mentally and financially to lose part of
31:14
all your capital. If you are and you're honest
31:16
with yourself, that company and others to me are extremely
31:20
attractive. If you're going to speculate,
31:22
slash gamble. Yeah, yeah, yeah.
31:25
And I and I love how you just described kind of the macro
31:28
situation that the junior sector finds itself in.
31:32
You have the big companies that have not invested in their
31:36
resource pipeline right there were more focused over the last
31:39
decade or so of paying off debt, shoring up their balance sheets.
31:44
But every day they are eating through their quote UN quote
31:48
inventory of available gold, silver, copper, whatever metal
31:52
you want to describe and they need to replace that.
31:56
And the, the valuations are still so incredibly low in the
32:00
junior sector that, you know, like you said, with these
32:03
companies, if they want to go out and try to explore for gold,
32:06
copper, silver, whatever it is, it's going to, it's going to
32:09
cost them multiples more than what they can just go purchase
32:13
these junior companies. And these junior companies, I
32:16
want to add as well, a lot of them depending on the company,
32:19
you know, if it's a pure exploration company, this may
32:22
not be the case, but a lot of these are even development stage
32:25
companies that have already, I mean, the drilling's been done,
32:29
the, the resource has been defined.
32:31
It's, you know, that it's already in the ground and it's
32:34
still a lot of times trading, you know, with gold, you know,
32:38
10 dollars, $5.00 an ounce, $20.00 an ounce in the ground.
32:42
To me, the value, I'm a value. I like, you know, what do I get
32:45
for each dollar that I put into a company?
32:47
The value. And I know it's risky and you
32:50
always remind me of that and I could lose all of my capital.
32:52
And but at the same time for me when I look at the value that I
32:57
can get in a lot of these junior mining sector companies, it far
33:02
exceeds really anywhere else that I look in the market.
33:06
But I would have said that I want to say give this
33:09
disclaimer, I would have said that same thing 18 months ago
33:12
when a lot of the stocks were a much higher than they are right
33:16
now. So.
33:16
Thank you. Let me close on this when you
33:18
say that, and you're actually right what you said.
33:20
But here's here's an old thing that I learned from a master
33:23
investor 25 years ago that became my mentor.
33:26
Back then, he used to say I'd rather be two years too early
33:30
than a day too late. Yeah.
33:32
So we were two years too early on the juniors don't, I won't
33:35
argue with that. But could we be a day too late
33:38
if we started buying things now for the first time like Bitcoin
33:41
or the stock market with 27 forward PE and all that?
33:46
That's where I'd make the argument and why I put so much
33:49
in the junior market. Yep, Yep.
33:51
Thank you, Peter for joining me today.
33:54
If people want to learn more about you, you have like a daily
33:57
blog post that you put out and they can register for that at
34:01
petergrandich.com. Is that correct?
34:03
Blog? But I do most of my work on on
34:06
Keep Saying Twitter on X page, the X page, if you're going to
34:10
follow one thing on me, because if I do a video, I put it on X
34:13
page. If I make a blog post, it goes
34:15
on my X page. So the X page you know Peter
34:18
Grandich is the best. Peter's also written a book,
34:22
Confessions, Confessions of a former Wall Street whiz kid.
34:27
I'd highly recommend it. I've read it.
34:29
Can I tell you why the word former was added in the fifth?
34:33
It wasn't. It used to be called Confessions
34:35
of a Wall Street Whiz Kid. When you end up losing millions,
34:38
not once or twice, you should not call yourself a whiz of
34:41
anything. So that's why it says a former
34:44
Wall Street whiz kid. Yeah, well, you know, the game's
34:47
not over yet, Peter. We're still we're, we're still
34:50
kicking. And thank you.
34:51
Is there anything else, anything I missed that you'd like to to
34:55
share with the audience before we sign off?
34:57
Some will say this is sucking up, but Ronnie, you are so you
35:01
are so humble and so in love. What you what you do.
35:05
Making money is really secondary in in what you doing all.
35:09
And we got 1 bear. Yeah, I see that little silver
35:14
bear. I always told you to.
35:15
There was going to be a tougher chart to get to 85.
35:19
But I can just tell you this, if I had to buy one sector right
35:24
now versus any other sector, it'd be metals related in
35:27
mining. And I think, and I say this with
35:30
fingers crossed, I think the junior resource market's finally
35:34
going to have the year we've looked for the last couple of
35:36
years. Yeah, yeah, I, I, I feel that
35:39
too, Peter. And, and I appreciate you
35:41
sharing that with me and with the with the audience, you know,
35:45
because it's been a rough ride. Oh, gosh, over the last, what,
35:48
two to three years? And it just feels like we're in
35:52
a different environment. But, you know, we'll, we'll,
35:56
we'll catch up during 2025 maybe sooner and see and see where we
36:01
are. Thank you.
36:02
Thank you and God bless you, Ron.