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🚨 Keith Neumeyer's Favorite Gold Mining Stock -- First Mining Gold · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:00
  So we had a 10 year bull market in resort stocks from 2002 to
• 0:05
  2012 and there's an amazing time.
• 0:08
  But again it must straight up. There was many times during that
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  10 year bull market that we were shaking our heads saying wow is
• 0:14
  this bull market over, but then next next thing you know it
• 0:17
  keeps going higher. Keith Neumeyer is a respected
• 0:24
  name in the precious metal sector.
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  He's the CEO of First Majestic Silver, but he also founded a
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  gold company back in 2015, First Mining Gold.
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  He still serves as the chairman. And today we have the honor of
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  having Keith join us to talk about gold, talk about the
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  general gold equity market and specifically about first mining
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  gold and the attractive opportunity that the share price
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  now offers. Keith, welcome to Ron's
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  Basement. Well, it's great to see you
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  again, Ron. It's been quite some time.
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  Yeah, it's great. Great to have you back in the
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  basement. So what do you think about the
• 1:03
  gold price right now, Keith? Are you, are you happy with what
• 1:06
  you're seeing? What are your thoughts on that?
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  Well, you know we, we sold some gold like yesterday.
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  When I say we, I mean first first Majestic, you know we're
• 1:15
  we're producing gold and silver. So of course we have to sell our
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  metal as as as part of our our business of course and it's nice
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  to sell it in these kinds of prices.
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  It is surprising how quickly it's moved and then and you know
• 1:32
  but I guess you know with all the geopolitical events that
• 1:36
  that are underway and you know the central banks have become a
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  such a large buyer. I I listened to a podcast the
• 1:43
  other day that one of the Gold Council members said that 65% of
• 1:47
  all world production on gold right now is going to central
• 1:50
  banks. That was an enormous number, if
• 1:53
  that's correct. So there's a huge bid under the
• 1:57
  market right now by big sticky buyers and we haven't seen that
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  for a long time and for probably 30 years we haven't seen that.
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  So it's really nice to see. It was something we've been
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  waiting for for a long time. Yeah.
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  And and I think it's important to point out as well that if the
• 2:15
  Western investors show back up to the market because you know
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  all the technical data shows that the the Western
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  institutional and retail investors have been quite
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  subdued. If they were to show up, that
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  could be, you know, even you know, a much larger additional
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  source of demand for for gold as well.
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  Well, I know we're going to get into talking about it, equities
• 2:38
  and then first mining of course. But you know that that goes to
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  really the absence of the investor, the North American
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  investor. And you know, I've been in this
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  market for a long time and I remember back in the 90s when,
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  you know, I'm running around raising money for First Quantum
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  Minerals and and you know, you had pension funds, Canadian
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  pension fund, you had insurance companies, a variety of pension
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  funds who you could rely on, who would write checks for
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  financing, was for, you know, projects around the world and
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  including, you know, all the projects that were being
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  financed. Back then, it was the same
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  investors, mostly pension funds, really sticky money.
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  All these funds, all these pension funds, including the
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  government pension funds, you know, had a portion of their
• 3:25
  money, their, their assets in metals, the gold and silver,
• 3:28
  copper, whatever the case may be.
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  And today, these funds have 0 allocation to metals.
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  They've actually got very little allocation to energy period as
• 3:40
  well. So it it's quite unusual because
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  yeah, they they must be these fund managers that that are
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  running these trillions of dollars around the world in all
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  these pension funds that have no investment in this sector at
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  all. They must be, you know really
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  getting a little bit nervous now because this is going to be the
• 4:00
  best performing sector I think over the next 5 plus years.
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  And without with them not having exposure, it's going to be you
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  know job job crushing. A lot of these guys are going to
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  get fired and so they're gonna have, they're gonna be forced to
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  come into this market just because of what what we're
• 4:20
  seeing today. Yeah.
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  And it and it could be like a, a flood of money because you know
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  the the total market cap of the precious metals mining sector is
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  quite small right now compared to, you know, let's just compare
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  it to Apple computers market cap or any of these companies that
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  have garnered so much attention that that if we get just a small
• 4:42
  portion of what you talked about, it did result in big, big
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  moves for the mining stocks in particular.
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  So I want to ask you about the mining stocks.
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  Do you, I find myself often times because I do invest a lot
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  in mining stocks kind of exacerbated frustrated that
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  we've seen especially with gold great moves and gold.
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  But there's this massive disconnect with the mining
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  stocks and I think it's set up a very attractive, you know
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  potential for for for capital appreciation down the road.
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  But right now, do you see it as a as a very opportunistic
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  pricing environment for the, for the, for the mining stocks, the
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  entire sector? Well, it depends if you're a
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  mining company or or an investor.
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  You know if you look at and I've got a portfolio of mining stocks
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  including First mining and and you know of course 1st and
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  Jessica and others. But you know they they've not
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  really performed great, you know up maybe 20% over over the last
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  you know three months call it you know first mining is
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  basically flat. You know, I've got a number of
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  other companies in My Portfolio that are maybe flat to maybe up
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  10%. So so the the market is turning
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  around but there's a big reluctance of investors out
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  there to really start allocating capital to the sector.
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  And you know, I, I don't really know all the reasons it could be
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  ESG related. It could be you know, you know,
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  risk related. You know, I I think that you
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  know what happened in Panama, you know was quite a negative
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  situation for a lot of big investors.
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  They look at that and they go wow, you know what land tenure,
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  you know, claim claim issues or or whatever the case may be.
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  And you know other countries around the world are are putting
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  clamps on mining as well. Even here in Canada, you know,
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  the, the, the, you know, the Trudeau government doesn't like
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  extracted industries. So there is, you know a move
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  around the world that, you know, extracted industries are
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  somehow, you know, bad, which is completely nonsense.
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  I think the mining sector is probably, you know, the one of
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  the most cleanest sectors in the world and people might be
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  surprised to hear that. But you know the US and
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  Canadian, Australian miners are are so on top of of
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  environmental issues that you know, people, it's unfortunate
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  that, you know mining executives around the world don't pat
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  themselves on the back a little bit more to really garner the,
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  the, you know, recognition that they deserve.
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  But, you know, you get caught in, you know, this political
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  environment where politicians find it easier to allow Levi's
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  manufacturer to open up in their backyard.
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  Who's just going to, you know, pay minimum wage, you know, to a
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  bunch of slave laborers to create jeans.
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  And, you know, that Jean company can just up and go if they don't
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  like the environment. You know after the government
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  has built you know roads and infrastructure and you know even
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  some cases build towns you know to to to bring you know these
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  types of manufacturers in into their area.
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  Yeah a miner you know has to build it all itself and and and
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  is is there for the next 30-40 fifty years you know at the at
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  the mercy of the government so and then the miners put up with
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  it and you know we we're we're you know long term players in
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  this sector and you know we it's nice to see the prices doing
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  what they're doing because it's gonna allow us to reinvest
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  capital and put capital into some important assets around the
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  world and create more employment and you know bring some of these
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  metals to the market that are are are very critical to to
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  consumers. Yeah.
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  So if we, if we focus in on 1st Mining Gold, you founded the
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  company in 2015. I was thinking before we went on
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  here, if I'd if I told you back in 2015 that, that we'd be
• 8:43
  talking today and the gold price would be at $2260 per oz, would
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  you have believed me? And would you have believed
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  that? And again, this is not something
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  specific to 1st Mining Gold, it's the entire sector that
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  there'd be such an opportunity right now for investors to get
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  in at at what appears to be very, very attractive entry
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  points. Well first mining was the
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  darling of of House St. you know House Street is a major
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  financial St. in in Vancouver, Canada is where most of the
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  brokerage firms and most of the mining companies exist.
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  And so you know I remember when I was putting the company
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  together, you know back in 2014, 2015 and I I, it came public in
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  early 2015 and I was raising money and buying assets.
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  And you know from early 2015 into early 2016 the gold price
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  fortunately started to move. And you know I was full on
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  acquiring assets at dirt cheap prices as far as I was concerned
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  and buying good quality assets that no one really wanted to
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  finance. And we ended up with a pretty
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  darn good portfolio. The stock was trading every day
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  for probably 12 months. I have to go back and look at
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  the exact data, but just from memory it was in the top ten
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  trading companies on the on the TSX Venture Exchange for pretty
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  well every day for a period of 12 months.
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  And we raised a lot of money. We had a market cap of over $600
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  million at the peak and and the assets that we bought as far as
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  I'm concerned you know became one of the best quality gold
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  portfolios are used in the space.
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  And I don't know of another junior company that owns such a
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  portfolio as as first mining gold.
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  And you know we were able to do that because these junior
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  companies they're all single asset companies and I'm not a
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  huge fan of single asset companies because they always
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  seem to be you know run into a ripple now and then.
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  So you know I I like to have multi asset companies and that's
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  what I've built with first mining and then these companies
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  that we bought had run out of money.
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  Their market caps are quite low. Management had you know thrown
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  in the towel basically and we are able to put this package
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  together you know eight companies and which are you know
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  our, our, our, you know we've sold portions of some of them
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  off. But you know our two core assets
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  Springport and Duper K has become our primary drivers of
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  you know our future success or is what we consider to be our
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  future success. So it's pretty exciting but
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  today you know we have a market cap of I don't know 120 million
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  or something and and these assets are much more advanced
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  than they were you know back you know eight years ago when we
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  first put this company together. So I think it's you know it's
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  they're cheap and I was I I've been a buyer I'm approaching 30
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  million shares of of that I personally own I'm I'm buy buy I
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  think virtually every month I buy some more stock you'll see
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  my insider trading and and you know I I think the stock is you
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  know is is easily A5 bagger. I know it's part time.
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  You're not supposed to say that kind of thing, but in my view
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  that's the kind of, you know, upside I believe it has.
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  Yeah, I'll say it's a six bagger that way I'll get you out of
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  trouble. Anybody's going to take the heat
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  for that one. Yeah, it's, it's, it's, it's
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  it's an interesting situation as as I look at the two major
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  projects right, spring pole multi million ounce project in
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  Canada, Du Parquet right, which was just recently kind of
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  consolidated about a year and a half ago in in in Quebec both of
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  which are multi million ounce projects in Canada.
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  And then there's four additional projects.
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  I know Cameron the company still owns 100% of big position in
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  treasury metals, the Pickle Crow project and then with Big Ridge,
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  I think the the company still owns 20% of that.
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  These are big gold projects in Canada and that are moving well
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  in the case of Spring Pool and Dupar Cave moving through the
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  development process. So catalyst rich environment as
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  we move into the next couple of years.
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  But I want to ask you a question, Keith, about another
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  catalyst that we might see for development stage companies in
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  Canada. And that is, I keep hearing that
• 13:26
  the big major producers that their pipelines are are running
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  a little thin, that over the last 10 years, they didn't
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  invest a lot in exploration, they didn't invest a lot in
• 13:39
  development stage projects. So as we look out, let's say
• 13:43
  over the next two, 3-4 years, you have a situation where first
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  mining has two big projects in Canada that could be nearing
• 13:53
  the, the, the, the permitting process being completed.
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  At about the same time that we could have some big companies
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  who are going to be in the market to buy projects that are
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  at that stage. Is that, is that a fair
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  assessment? Is that one of the catalysts
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  that maybe you look at is something that could be exciting
• 14:11
  here in the next few years? Well, absolutely.
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  And you know we, we still haven't seen a lot of move, you
• 14:17
  know, a lot of activity, you know B2 Gold recently bought, I
• 14:22
  forget the name of the company up in Northern Canada.
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  There's been a couple other acquisitions over the last 12
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  months, but it's been pretty quiet.
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  But I think you've got to see that speed up.
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  You know, these juniors like the first mining's out there, There
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  they, they haven't moved much. The majors have moved, you know,
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  out proportionally 'cause you know, the money has started
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  coming into the sector. So the first money is always
• 14:50
  going to going to be going to the majors, you know the new
• 14:52
  monster barracks and you know and eco Eagles and and so on and
• 14:56
  so forth, you know and then and as their market cap increases
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  and as the pressure starts coming to them because the
• 15:03
  institutions who are buying their stock.
• 15:05
  So you know say to management, hey look your market caps you
• 15:08
  know gone up 50% in the last you know 6 to 12 months.
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  You know what are you doing like you know why are you out there
• 15:14
  by some of these juniors who are you know struggling and you know
• 15:18
  needing capital and have good projects.
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  So that's we're just at the beginning of that.
• 15:24
  It'll be interesting to watch the next 12 months.
• 15:27
  You know I, I, I, I don't run the day-to-day management of the
• 15:31
  first mining gold. You know Dan Wilton, the CEO
• 15:33
  does all that. I'm the Chairman of the company.
• 15:35
  So and and I obviously don't want to disclose you know
• 15:39
  details or you know over a podcast of you know what's going
• 15:42
  on behind the scenes. But you know, I can tell you
• 15:45
  that you know, there's always talk and you know at First
• 15:49
  Majestic, for example, you know I am the CEO of that company and
• 15:53
  you know we're always looking for juniors.
• 15:55
  We're always looking for places, how do we expand our production,
• 15:58
  how do we get more silver into our portfolio.
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  And you know, if we're doing it, you know, I can tell you the
• 16:04
  other majors are doing it in the gold sector as well.
• 16:06
  And you know I've got evidence that is happening.
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  But you know it does take two to tango and you never know when
• 16:11
  the transaction occurs quite frankly at $0.13 a share, I'm
• 16:15
  not a, you know, avid seller. So I I would like to see things
• 16:21
  improve a little bit more before, you know, we start going
• 16:23
  down that path. If you're looking to buy gold,
• 16:26
  silver, or platinum, do yourself a favor and check out Pimbex,
• 16:30
  the online precious metals bullion dealer and sponsor of
• 16:34
  Ron's Basement. I was a happy customer before
• 16:38
  they offered to support the channel.
• 16:40
  You'll find they have the best prices, quality, and service.
• 16:44
  I think Pimbex is best, and you will too.
• 16:47
  And be sure to tell him that you're from Ron's basement.
• 16:50
  And I think it's important to point out to these majors over
• 16:53
  the last 10 years, the reason they weren't doing as much
• 16:56
  exploration and development work is because they were working on
• 17:00
  building really strong balance sheets, paying off debt.
• 17:04
  And right now, I mean, Keith Heck, if if gold, if the gold
• 17:07
  price stays above $2200, I mean the the the big producers were
• 17:12
  really happy with $2000 gold. I would think the amount of cash
• 17:16
  that they're generating at some at some point they're going to
• 17:18
  run out of debt to pay off. They're going to need to do
• 17:21
  something with that money and just at the at the time again
• 17:26
  when their pipeline of their their resources.
• 17:29
  I I heard something a few few weeks ago someone mentioned that
• 17:33
  the major gold mining companies now compared to 10 years ago
• 17:39
  that their level of resources was down by like 30 to 40%, you
• 17:45
  know so, so it just, you know, I think as we look at the catalyst
• 17:49
  as we move into the next couple years for first mining, you know
• 17:53
  I I think there's some, some, some interesting developments
• 17:56
  that could occur and I appreciate you given a slight
• 17:59
  another one, money could come just back into the sector,
• 18:03
  right. I mean even independent of this
• 18:05
  high gold price, just more money coming back in, you know the the
• 18:10
  permitting process, I don't know, I know Dan Wilton
• 18:14
  obviously runs the company, but it feels like and I think I
• 18:17
  heard him say this recently that like spring pole is almost 7580%
• 18:23
  through the permitting process. I know there's some big
• 18:26
  milestones coming up. Will the stock move and and of
• 18:30
  course, we're not giving financial advice and neither of
• 18:33
  us can predict the future. But has it been your experience?
• 18:37
  You know, I think a lot of times people wait like, oh, I want to
• 18:39
  wait until this happens until I buy the stock.
• 18:42
  But isn't it usually the case that a lot of times the stocks
• 18:45
  move in anticipation of big catalyst events?
• 18:49
  Does that does that make sense? Well, for sure, you know, the
• 18:52
  market's not stupid. The the market kind of knows
• 18:56
  what's going on and you know you never know what catalyst is
• 19:01
  going to drive a stock. You know there's there's usually
• 19:06
  it's it's probably rarely 1 catalyst.
• 19:09
  It's it's a multiple of different things coming together
• 19:12
  all at the same time. And then the market just wakes
• 19:15
  up and says hey the stock is cheap and they and they say and
• 19:18
  then the market comes into and floods into that stock and next
• 19:21
  thing you know it's up you know 3-4, five, 100% and people go
• 19:24
  back and say how did that happen?
• 19:26
  Well we've been we've been talking about this for the last
• 19:29
  five years. We told you it was going to
• 19:31
  happen and and you haven't listened and and blah blah,
• 19:34
  blah, blah, right. So you have that discussion and
• 19:36
  then people kick themselves you know on on and say shoot I
• 19:40
  should have you know bought some or I should have bought more And
• 19:43
  I don't know how many times I've had that discussion with
• 19:45
  investors. You know throughout my career.
• 19:47
  You know, you know, at First Quantum I was, you know, there
• 19:50
  were many years where we're struggling trying to raise
• 19:53
  money. And at first and just like, you
• 19:57
  know, the same kind of thing, you know, inside we, we went
• 20:00
  through 20 years in September of 2023, our 20th year anniversary
• 20:06
  and and it wasn't all, you know, fun and games over that 20
• 20:10
  years. There's a lot of hard times, a
• 20:13
  lot of sweat, a lot of, you know, you know, focus.
• 20:18
  From the management team to you know, get through difficult
• 20:21
  times and you know, you know continually build the business
• 20:24
  and the same thing is going on 1st mine and gold.
• 20:26
  You know, there's, you know the burn at first mine is quite
• 20:28
  high. You know, to permit a gold
• 20:31
  project, you know in Ontario or Quebec, it's not a cheap process
• 20:34
  you got to go through. You got to keep financing it and
• 20:37
  you just got to keep plugging it out and plugging it out and
• 20:40
  plugging it out and and and eventually you know the market
• 20:43
  says hey these guys might actually get have a chance to
• 20:46
  get there. You know five years ago I I, I
• 20:49
  would probably guess that many, many people would have thought
• 20:53
  you know or betted against us you know and and and as as
• 20:56
  people start to bet with us then that's start to see things
• 21:01
  change and it's going to happen. You know the gold price will of
• 21:04
  course will help but you know other things will help but I
• 21:07
  think it's a lot of just attitude as well.
• 21:10
  You know people are still making money on NVIDIA and you know,
• 21:14
  you know Apple and Nike, whatever, you know they're
• 21:17
  they're still making, you know look at the S&P, you know what
• 21:21
  what has done over the last, you know, three months, It's
• 21:24
  shocking. You know the this is the, you
• 21:26
  know the biggest market in the world and you know, you don't
• 21:28
  see markets like that move like that.
• 21:30
  So you know why, why would you invest in in the resource sector
• 21:35
  really, you know, you look at the GDX and it's with with gold
• 21:38
  where it's trading at GDX has to go up I think 100% to its old
• 21:43
  highs. So you know the, the and the
• 21:46
  mining sector, it's not exactly screaming to invest in US but
• 21:50
  you know once you know and I've said this many times and you've
• 21:53
  heard me say this wrong, but you know back in 2000 when the when
• 21:58
  the NASDAQ hit 5000 in March of 2000 and then over the next
• 22:02
  three years it dropped 80%. You know the NASDAQ went from
• 22:05
  5000 to 800. You know think about that and
• 22:10
  and where did all that money go? It all went into the resource
• 22:13
  sector and well and real estate as well.
• 22:16
  So, so and the resource sector is so small you know so we had a
• 22:20
  10 year bull market in resource stocks from 2002 to 2012 and
• 22:27
  there was an amazing time. But again it was straight up,
• 22:30
  there was many times during that 10 year bull market that we were
• 22:33
  shaking our heads saying wow is this bull market over.
• 22:36
  But then next, next thing you know, it keeps going higher.
• 22:40
  It was a lot of fun and a lot of people made a lot of money.
• 22:42
  But I think that we're going into exactly the same period.
• 22:46
  I don't know if we need a stock market crash, you know, that's
• 22:51
  that's up for debate. But well, you know, we do
• 22:55
  definitely need the institutional money to come into
• 22:57
  the sector. And as I said earlier in the
• 22:59
  interview that they're going to be forced into this sector
• 23:02
  because they're losing out. Yeah, yeah, yeah.
• 23:06
  And when you I have so many things I want to say.
• 23:08
  Now you've stimulated so much thought, but when you talk about
• 23:11
  the valuations in the in the general markets, I'm an old
• 23:15
  accountant. So I like to compare, you know,
• 23:17
  what do I get for each dollar that I put into first mining
• 23:21
  gold stock, What do I get for each dollar that I put into
• 23:23
  first majestic stock or any, almost any of the mining stocks.
• 23:27
  Now for every dollar you put in, you're generally getting at
• 23:32
  least a dollar or more of assets.
• 23:35
  And if you compare that to every dollar that you put into NVIDIA
• 23:39
  or every dollar that maybe you put into Apple or Microsoft,
• 23:43
  maybe with those companies, you're getting a nickel or two
• 23:47
  or three cents worth of assets. And a lot of hope and a lot of
• 23:50
  promises that they're going to deliver big profits in the
• 23:53
  future. I mean the, the entry point in
• 23:57
  my opinion and I'm a financial advisor not giving financial
• 24:00
  advice, but in my opinion the entry point in the mining sector
• 24:04
  right now is incredible. I know first mining gold, if
• 24:06
  you, if you, if you kind of break down the, the the market
• 24:10
  cap and divide it by the number of Oz of gold that the company
• 24:13
  has in Canada. I mean it works out to seven or
• 24:17
  $6 per ounce of gold. It's it's just incredible right
• 24:20
  now. Yeah, yeah.
• 24:23
  That's very, very true. And you know, I think investors
• 24:26
  probably don't realize how important these two assets are.
• 24:30
  You know there there's, you know there's a variety of million
• 24:33
  ounce assets around and you know a million ounce gold asset, you
• 24:38
  know is is not that uncommon maybe whether it's in Mexico or
• 24:43
  or or the United States somewhere Arizona in Nevada or
• 24:46
  or you know in Canada versus Columbia, Ontario or Quebec or
• 24:49
  whatever. You know there's probably a
• 24:51
  couple of dozen you know that are around that you could
• 24:56
  probably pick up if if you're so inclined.
• 24:59
  But the majors don't want those million ounce assets, they want
• 25:03
  5 million oz assets. That's kind of their number.
• 25:07
  And because they needed they need a minus going to produce
• 25:09
  you know 253 hundred, 400 and 500,000 oz a year to to make a
• 25:14
  dent on their cash flows. You know they need new assets
• 25:18
  for them to you know build a mine for a billion dollars is
• 25:21
  nothing if if it's going to produce you know 3 to 500,000 oz
• 25:24
  a year. You know as I said earlier, you
• 25:28
  know there's no other company on earth that I'm aware of that has
• 25:31
  two very large projects like this in their portfolio and
• 25:35
  being in the jurisdictions that they're in, you know one being
• 25:37
  Quebec, Columbia, Ontario, this is highly unique.
• 25:41
  So or any of these majors who are looking around, you know
• 25:47
  this is a company, these are two assets that they just have to
• 25:50
  look at. Yeah, Yeah.
• 25:52
  And and there just aren't that many.
• 25:56
  I know there's a a graph on the first mining investor
• 25:59
  presentation. There's just a handful of other
• 26:01
  projects that size And Canada, earlier you mentioned about the
• 26:05
  fact that the company is burning through some cash.
• 26:08
  But I think it's important to point out that yes, but these
• 26:11
  are big, big, big projects. So they're going to take more
• 26:15
  manpower, they're going to take more work and there's very few
• 26:19
  projects in that area that are as advanced through the
• 26:23
  permitting process as what we see at Spring Pool and and
• 26:28
  Duparque. So Keith, thank you so much for
• 26:31
  joining me today. I I will be remiss if I don't
• 26:35
  mention that if people want to learn more about the company
• 26:37
  they can go to the website or I think you know a guy who works
• 26:42
  with the company named Paul Morris who they can reach out to
• 26:44
  as well. Paul's been a long time friend
• 26:47
  of mine and you know great guy and she's like when I say long
• 26:52
  time it's probably like 30 years.
• 26:54
  So he's I'm, I'm so happy he's on board and you know for those
• 26:58
  who would like to chat with him, please reach out and you know
• 27:01
  we'll definitely connect you. But on a podcast like there's a
• 27:05
  difficult really get into you know all the nuances.
• 27:09
  You know there's lots of moving parts and there's a lot of
• 27:12
  effort going into the development of both of these
• 27:14
  assets. And I can tell you the team is
• 27:17
  very focused and you know these assets in my view will become
• 27:21
  producing gold mines, both of them, and even even gold on the,
• 27:25
  you know, treasure medal you mentioned and your hope Brooke,
• 27:28
  which the other company owns, one owns a.
• 27:33
  Forget Big Ridge. Big Ridge.
• 27:34
  Sorry. They they they'll I I'm, I'm
• 27:37
  glad you knew that, 'cause they would give me shit if I didn't
• 27:41
  at least know their name. And then of course, Karen's 100%
• 27:45
  owned. And so, look, we got a great
• 27:47
  portfolio, a lot of energy going behind the company.
• 27:49
  It's just it hasn't shown up in the stock, but I'll I'll
• 27:52
  continually buy it and and others I'm sure will come in,
• 27:56
  but we'll be in Europe next week meeting investors and you know
• 28:01
  the interest is increasing which is nice to see.
• 28:04
  Yeah, well, you know, you know we, we've all, all of us have
• 28:07
  always heard the same actions speak louder than words.
• 28:11
  So you and I have shared a lot of words today about the
• 28:14
  company. But if you look at publicly
• 28:18
  available filings, you will see, like Keith mentioned earlier
• 28:23
  that he has been actively buying the stock and I've been actively
• 28:26
  buying the stock as well. So if we look at what the
• 28:29
  actions are, it shows that that you continue to have confidence
• 28:33
  in the management, continue to have confidence in the
• 28:36
  properties. And it'll be exciting to see how
• 28:39
  things develop here in the coming months and years.
• 28:42
  And especially if we get even the slightest continued
• 28:48
  improvement in the overall gold equities market, I think we
• 28:53
  could be in for some real fun, exciting times.
• 28:55
  Keith, thank you for joining me here in the basement and I'll
• 28:58
  look forward to seeing you next time.
• 29:01
  Well, it's a great time, a great, great opportunity to
• 29:03
  speak to you again, Ron. And particularly on a day like
• 29:06
  today when we have, I think silver prices are up like $0.80,
• 29:09
  which is highly unusual. Gold gold's up, 20 bucks.
• 29:13
  It's been up. I think gold has been up $20 a
• 29:15
  day for the last week or something.
• 29:17
  Yeah, yeah, yeah. I was just talking to my wife,
• 29:21
  Susie, who's over the last couple.
• 29:23
  She helps with the channel and she's now she watches the gold
• 29:26
  and silver price and she said what's going on with gold?
• 29:28
  And I told her, so I've noticed and I think it's a really good
• 29:31
  thing like the last few days it's shot up overnight kind of
• 29:36
  in the morning and then it almost comes back to being even
• 29:39
  and then like strength comes back into the market, it goes
• 29:43
  back up. It really feels like a different
• 29:46
  market than what we had a year or two ago.
• 29:50
  And I, you know, I guess before I wrap up, I'll just, I'll, I'll
• 29:52
  show you this Keith, because you talked about you know kind of
• 29:56
  the differences in the GDXJ and the gold, silver price.
• 29:59
  I I explicitly remember the last two Easter Sundays, Easter
• 30:04
  Sunday of 2022, Easter Sunday of 2023, where my mining stock
• 30:09
  portfolio had hit like a recent all time high right and then
• 30:13
  immediately fell back. So I did some analysis and that
• 30:16
  was indeed the case. The GDXJ Easter of 2022 was at
• 30:21
  51 U.S. dollars per share immediately dropped to 30.
• 30:27
  Last year the GDXJ had come back then to 42 immediately again
• 30:32
  dropped back to 30. Same thing with the gold and
• 30:34
  silver price. And I'm thinking that this year
• 30:37
  I'm hoping that we broke the Easter curse because feels like
• 30:42
  these first few days we're we're, we're continuing to show
• 30:44
  strength in the metals and the equities prices.
• 30:47
  You know, that's a super good point, Ron, because this time of
• 30:50
  year between March to May is usually kind of a weaker, weaker
• 30:55
  period that's you know usually and then you go back 30 years
• 30:59
  and look at the charts. Usually your strong period is
• 31:02
  from kind of October to February or or September to February or
• 31:06
  whatever. And then it gets weak for a few
• 31:09
  months into the summer and then it starts picking up again at
• 31:12
  the end of August and then the ending to October, November,
• 31:14
  December and and and you can almost bank on it and and and a
• 31:19
  lot of people trade around that as well.
• 31:22
  I don't particularly pay that much attention to it, but I just
• 31:25
  look at charts and but this time around it's not the same.
• 31:30
  You know we have a different kind of market.
• 31:32
  There's there's a bit out there coming into that sector and it's
• 31:37
  something something's changing and I think there's going to be
• 31:41
  a flash of capital coming into the mining sector over the next
• 31:43
  couple years. Yeah, it'll be.
• 31:45
  It'll be exciting. I saw a political cartoon the
• 31:47
  other day. It hit China on one side, a big
• 31:50
  wall in the USA on the other, and the Chinese were throwing
• 31:54
  bundles of U.S. dollars over the wall and the US was shipping
• 31:58
  over silver and gold. So who who knows?
• 32:01
  You know, a real simplistic way to look at things.
• 32:04
  Yeah, well, you know it it's, you know, there there was an
• 32:08
  interview that was done and then, you know, I don't want to
• 32:11
  replug another channel, but. Oh, you're fine.
• 32:14
  By By Frank Giustra and Pierre They did a round table
• 32:19
  discussion last week with Michelle, Forget it, Michelle
• 32:24
  from. Kitco.
• 32:25
  That's right from Kitco and it was quite fascinating and and
• 32:29
  I've said said similar things as well, but they were they were
• 32:33
  very concise and they they really laid it out on what's
• 32:37
  happening in the institutional world and and the pension fund
• 32:40
  world and and how these big groups are not invested in the
• 32:45
  sector at all. And it kind of goes back to what
• 32:48
  I said earlier and I would, I would suggest to your listeners
• 32:51
  that they try to find that on on YouTube and listen to it.
• 32:54
  It's quite fascinating. Yeah, Yep.
• 32:57
  I listened to the the first part of that last night before I went
• 32:59
  to bed and exactly right. Like there's just no money in
• 33:02
  this sector and you know as you've already said like just
• 33:05
  the smallest amount could could make a huge difference.
• 33:08
  So we'll be, we'll be keeping our eyes out and really looking
• 33:13
  forward to next time Keith that we can have you back in the
• 33:16
  basement. And I also want to throw in, I
• 33:17
  will put a link to Paul Morris to his e-mail address in the
• 33:22
  description of this for anybody who wants to reach out.
• 33:25
  Paul, like Keith said, is a great guy, very friendly.
• 33:29
  You can actually talk to somebody at first mining gold if
• 33:32
  you want to learn more about the opportunity.
• 33:34
  Thanks a lot Keith. I hope you have a great a great
• 33:37
  rest of your day. Great.
• 33:38
  And thanks again, Ron. Appreciate it.