The move last week in precious metals was fun. I don't know where we go from here near term honestly, though long term it's obvious.
In my last interview I said we could head lower even though sentiment was historically bearish in gold. Specifically I said we could bounce and then roll lower...and I still see the potential for a great deleveraging at some point. But in the interim, bounce we did as Bessent announced further monetization of US debt. Hence, while I've deployed cash to get down to about 15%, I'm still at an elevated cash level because crazy things can happen, especially in resources as many eyes are looking at the space and I want asymmetry, not just leverage to rising metals prices.
Therefore, my focus has been on juniors with market caps to NPV of less than 10% who are either fully funded or who will start small and increase their resources through non-dilutive exploration. (Not investment advice: I like CANX.v, LFLR.cn, ESG.v, BNKR.to, VZLA, MCI.v among others)
Further afield, I keep digging into markets IB doesn't touch. You get non-USD exposure here, interesting compounders, and some companies where I think you can get dividend yields in the 60% to 70% range in a few years (after a specific industrial concludes its capacity expansion). More to come on this. I'm not aiming to be cryptic, but don't have positions yet and/or am not done researching.
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