Gold and Miners OBLITERATING ALL RESISTANCE – Epic-Scale Cash Flow and Breaking News!
One thing I’ve learned about precious metal investing is that gold always makes a comeback – it’s something you can count on. Institutional investors and central banks around the world know this, and they’re shoring up their gold reserves in record numbers. This renewed interest is driving a historic breakout in precious metals, particularly gold.
Large-scale investors are also seeing what most individual investors don’t pay attention to, but should: inflation, which is deteriorating the value of the U.S. dollar year after year. The smart money knows that the dollar isn’t smart money, plain and simple, so they’re taking huge positions in gold in anticipation of the dollar’s weakness.
Gold’s breakout, which has been in full effect since November of last year, has been nothing short of spectacular. Gold is up significantly versus the U.S. dollar after a multi-month basing period that left some retail investors impatient, but it’s richly rewarding gold holders with a long-term view:
The $1,200s are ancient history now, as gold has made its first technical test of $1,350. That’s a common event, as resistance levels typically get tested before the real breakthrough occurs. And the year is still quite young, with $1,400 and $1,500 being easy targets at this point.
Another driver for gold in 2019 will be the Federal Reserve’s rate hike pause, which is a sure bet due to pressure from the President and because any attempt to meaningfully raise interest rates will result in a severe stock market correction. We saw this in late 2018 when stocks had their first bear market since the financial crisis of 2008-2009.
Gold ownership is an absolute must this year for any fully diversified portfolio. Sophisticated investors are augmenting their own physical precious metal holdings, but they also have an allocation in the mining sector through carefully selected resource stocks. This is because mining shares can substantially enhance returns as precious metals appreciate in price.
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It’s easy to see how mining shares can magnify your gains: consider the fact that in the fourth quarter of last year, gold gained 6% while the gold miners doubled that performance, gaining 12%. The rest of the stock market was tanking at that time, proving that gold mining shares can easily outperform even in the worst market conditions.
The gold mining company I’ve been recommending as a terrific vehicle for leverage in this new gold bull market is Sandspring Resources Ltd. (TSX.V: SSP, OTC: SSPXF), which explores for and develops gold, silver, and copper deposits in Guyana, South America. They’ve got a world-class flagship project called Toroparu, a 100%-owned 10-million-ounce-and-growing gold asset located in the mineral-rich and mining-friendly Guiana Shield region.
Courtesy: Sandspring Resources Ltd.
In addition to Toroparu, Sandspring also has full ownership of the Chicharron Gold Project within the Segovia Mining District of Colombia. With key support from financial partners like Wheaton Precious Metals (which resulted in the project’s finance requirements being reduced by around 30%), Sandspring’s projects are financially de-risked and being fast-tracked to production.
In breaking news, Sandspring and Wheaton are currently reviewing the re-scoping of the Toroparu Project, extending the due date for completion of a final feasibility study. The re-scoping provides the potential for a lower initial capex and the generation of sufficient free cash flow during phase one to finance the expansion of the project to full capacity, as well as the construction of a run-of-river hydroelectric project to provide low-cost power for the project for the expanded operations.
Commenting on this exciting development, Sandspring CEO Rich Munson stated that “the re-scoping efforts have been a team effort and the work has taken a considerable amount of time due to the engineering and environmental due diligence necessary to incorporate the higher-grade gold resources at Sona Hill into the Toroparu Project… Certainly 2019 will be a pivotal year for Sandspring and the Toroparu Project.”
I agree 100%; this will prove to be a tremendous year for SSP/SSPXF shares and the company as precious metals and miners achieve one breakthrough after another, enriching Sandspring investors in the process.
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