OK thanks everyone for the updates on Cu, Al, and Ag but let's talk about the elephant in the room... Au!
Check out the 2019 quarterly Gold chart. Why? Because it cuts out all the 'noise' of other shorter term time-frames AND it will probably lead the pack of the current break out commodities including Ag.
Note, Gold is currently $1744 (not $1414 in 2019 ie $300 increase) AND we're now 10 days away from the next monthly close.
$1733 is 18 month moving average = 1st safety net.
$1777 is 15 month moving average = 2nd safety net.
Also, like Cu, there's no major Au discoveries in the last few years and exploration budgets are at an all time low.
And why is this important?
"It is now cheaper for global miners that are holding large cash reserves to buy developing or developed projects via acquisition, rather than to develop projects themselves given shortages of capable development teams and timeline pressures.With precious metals juniors trading at attractive valuations, global producers are beginning to concentrate on replacing depleting reserves. After the gold price has corrected 20% from its all-time high, this is a great time to consider accumulating a basket of junior developers controlling large projects being de-risked into the finance stage.As senior gold producers face declining production profiles, shrinking reserves, and a return to rising production costs, I expect more news of miners targeting acquisitions to supplement their depleted pipelines." - David Erfle, 19 March 2021
Enter Inca and the next gen deposits in Peru...
Go the green and gold...
OMG remember the purple haze Copper soil analysis too...
Not to forget the elephants in Oz, of course. See deposits E and F regions below (note high minerisation of yellow and red areas of FW and JE)... it's not called IOCG (G=Gold) for no-thing. Hence, 4-day conference next month looking at the East Tennant area (again, once 3rd largest gold postcode in Oz)...
Eyes on the prize. Our own drill hole 4 had a direct hit of copper @ 250m (6,000ppm) and a potential 20-30km x 5-10km target has been identified (not including Roadhouse target near MDI)...
Oh, btw plenty more Cu at JE IOCG too (note red symbols >10,000ppm!)
With all these Gold / Copper giants waiting to be drilled AND in the middle of a once in a generation commodity bull market is almost unbelievable.
I'm pinching myself actually as we are fortunate to have so many 'options' going forward in this favourable environment.
Talk about low risk, hign reward entry. Whether it's plan A (Peru) and/or plan B (oz), the only way is up imo!
End of the Sunday sermon, Poet.
