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It can be hard to keep caring. Day after day, it feels like the same story: gold moves up or down a touch, pundits keep fretting over interest rates and earnings and the strength of the dollar, a few explorers or developers release news to muted response, and perhaps a junior gets taken out for a small fraction of what it was worth three years ago.

It feels boring, repetitive, like everyone is in a holding pattern until the markets improve.

Until you pay closer attention.

Up close the mining sector is busy as, adding value to current assets and positioning new projects for startup. Sure, there are lots of inactive companies with little to no money. But there are many companies determined to maintain momentum no matter how long this bottom lasts.

I will admit: I was starting to feel a bit nonplussed by it all, a bit bored by the lack of activity and a bit annoyed by the endless wait for the next bull. But a stream of interesting news over the last few days broke me out of that funk and reminded me of two vital considerations:

1. Good companies keep advancing their assets, guided by the more stringent parameters that the bear market imposed.

2. Investors are starting to return to the sector, looking to establish positions before the bull begins. That means good news now often sparks a share price rally.

Seeing share prices rally on good news is heartening. For years, good news has been treated as a liquidity event as often as not, resulting in share price losses even when announcements were positive. That tide seems to be turning.

Goldquest Mining is a good example. The company released a revised PEA for its Romero project in the Dominican Republic outlining a mine that would produce 117,000 oz. gold annually for nine year and generate a 34% after-tax internal rate of return on a $143-million capital cost.

Key points: the new PEA cut capex requirements in half and almost doubled the rate of return compared to the initial Romero plan. This is a huge improvement, a game changer for Goldquest – and the market took note, boosting GQC shares more than 80% in recent days. (The study only came out yesterday but pre-news promotion meant the official announcement just validated expectations.)

Seeing GQC's rise feels good – and bad. It's great in a general sense: we need the mining markets to start operating effectively again.

It's bad only in the selfish sense: I hadn't bought GQC.

It was my own fault. I knew the revised PEA was going to reframe the story and give reason to re-rate the stock. But I got complacent – convinced myself that the market would once again fail to react to news, so there was no rush.

It's an easy mindset to get mired in. Markets have been lousy for so long that it's easy to keep putting off putting money down. For years, mining investors have been rewarded for procrastinating: share prices kept declining so there was never any rush.

But now that mentality is dated. Things are as cheap as they're going to get, in general, and good news is getting rewarded. Missing a rally or two is a good reminder.

And a good impetus to start putting money into that list of companies you have been gathering. I have a list. It's time for my subscribers and me to start buying into it.

After this long, lousy market, the absolute worst would be to miss the ride back up. I still don't expect that ride to start tomorrow. But the best explorers and developers start ascending before the pack and that is underway.

Need another example? UEC. Uranium Energy Corp, an in-situ leaching uranium producer in the US southwest, popped 80% in the last two weeks following positive news on the potential to restart nuclear reactors in Japan. Uranium prices still haven't moved – for good reason, as I explain in the uranium piece I'm working on – but the market knows that low-cost uranium operations in stable jurisdictions will be the best way to profit when uranium does return. UEC is the best of the best in that sense and – voila – a major share price pop.

Mega Precious Metals got taken out last week by Yamana at a fraction of what it was worth a few years ago. But the deal offered a 100% premium to its share price over the last few months. Anyone with the gumption to buy a 5¢ stock for its 4-million oz. of Canadian gold doubled his or her money.

It's time. Build positions in companies with experienced, invested management and top-notch assets. We have returned to some sense of normalcy, where good news and best-in-class results get rewarded. Finally.

Good thing envy is such a great motivator.

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Thank you for the update. I am actually quite glad that you are flexible with your letters to enable you to get your readers the best information. And, I appreciate your offer to join the premium newsletter. I hope to continue to build my portfolio, with the help of your newsletter, to the point where I am able to take advantage of your offer and join the pp world in the not too distant future. I have really enjoyed your newsletter, read it with interest and have aligned my commodity portfolio with your recommendations, which has worked out very well. You are clearly a very trustworthy person, which is not always commone in the world of commodity investing. Thank yo for doing what you do so the small retail investor/speculator like me can have a better chance at success.

-RR (September 2019)

Thanks for all your hard work, but especially your honesty and integrity. I can feel your desire to take of us through your writing. As you have recently written, that is not always the case in this sector….I’m sure your new subscribers have no idea what they are in store for. I have almost doubled my portfolio since the lows in March. I would have done even better if I could have exited my positions when you recommended them, but I was overseas and unable to act. I was okay with it as I knew from experience it would bounce back. and boy has it AND ITS JUST STARTING!... After many years in the red, all but of a couple of stocks are in the green. The daily rise in my portfolio is unbelievable. And a lot of that is happening is because I trusted you. I’m afraid I’m going to need the benefits of your hard work and wisdom to once again help my family and because of all your hard work I’ll be able to if they need it. I can’t thank you enough for the sacrifices you make to make what you do possible. If your religious at all, you really are doing God’s work. You are making a difference in many peoples lives.

Blessings upon you and your family.



-PM (June 1, 2020)