Don Durrett brings his decades of experience in the gold and silver space to bear in order to determine which metal presents the better value proposition, both in terms of bullion and mining stocks. When it comes to investing, which precious metal is truly the superior choice? Don provides an in-depth analysis, comparing various aspects such as historical performance, global demand, and industrial applications, shedding light on the potential benefits and drawbacks of each.
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00:00 Introduction
01:09 Which is the Better Value, Gold or Silver?
06:38 Gold VS Silver Mining Stocks
12:25 How Don Evaluates Gold Miners
21:36 Importance of Economic Assessments
24:42 How Don Evaluates Silver Miners
33:24 Royalty and Streaming Companies
35:35 Gold Mutual Funds
#gold #silver #preciousmetals
Hello and welcome to commodity culture where our goal is to make you a better investor in the commodity space my name is Jesse day and before we dive in standard disclaimer nothing here is investment advice do your own due diligence and today’s episode is brought to you by money medals.com the most
Trusted online bullan dealer and depository in the United States use muddy medals for purchasing selling or storing physical gold and silver hit the link in the description below to learn more and use coupon code Jesse day to get a $10 discount on your first purchase and today’s guest is the
Founder of Gold stock data.com a guide to the pros and cons of investing in major mid-tier and Junior mining companies we’re going to be discussing gold versus silver which is the better investment both the metal and the miners it’s Don duret great to have you on the
Show thanks for having me on Jesse yeah it’s a pleasure to have you on I interviewed you on the VC Channel with John John fenick you guys gave some great insights into the gold and silver mining space so I really wanted to have you on the show John’s going to be
Coming on again later this month but I want to start off with the broad question and stick to the medals themselves putting aside the fact that physical precious metals are money they’re not really an investment that you make in hopes that they will go up which do you think presents the better
Value proposition at present for stackers silver bullion or gold bullion yeah that’s a good question so I think that silver is probably you you get at least 2x maybe even 3x on your money as far as stacking and the reason why and not everybody agrees with this but the
Reason why is because I think that the GSR will squeeze down to you know I think it’s going to go below 39 which it hit in 2012 so I think it’ll go down to the low 30s and so if it went from 90 all the
Way down to 30 I mean that’s more than you know more than 100% it’s like 100 could you clarify what the the GSR is uh the gold silver ratio right so it’s currently around 90 so if if you cut it in half so two to one leverage would be
45 and then so I I think it’s going to be at least you know you’re getting more than you know 2x your money leverage um buying physical silver than buying physical gold so I’ve always stacked physical silver and not gold for that reason because I just think you’re getting better leverage on your
Money but that GSR might not hold it could turn around and go back the other direction so if you’re a long-term thinking long-term hold you might like you might prefer gold um just because gold is a lot you know a lot um it’s gold is considered money silver isn’t necessarily
Considered money um so gold is is kind of a a better quality asset so if if you want the quality you know instead of the leverage you might go with gold plus I I think that gold could go a lot higher than we than we than we
Anticipate um so I think that silver is going to go up to at least $100 and probably 150 so if we look at you know 150 we’re at you know 20 let’s say we’re at 25 today we’re not we’re like 23 something we just use 25 it’s like what is that 6X
That’s that’s that’s a lot of money you know you get 150 um you got a lot of Leverage there now but on on gold you’re at 2,000 I think I think it could go to to eight and so that’s like three extra money a little bit better than that
And so you know silver even if gold really explodes I don’t think it’s going to get to 8,000 but I think four to 5,000 is is kind of in the ballpark but 4,000 is only one exra money versus 6X and then if it goes you know to 6,000 um you’re two extra money
So you know you can see where silver Sil silver to me just has so much more potential leverage I’d rather stack silver than gold I and that’s what I do stack um also I’m actually in the camp that because of crypto because of Bitcoin and because of kind of the
Younger generation adopting crypto we don’t know what crypto is going to do and is crypto if crypto survives if Bitcoin survives is that going to be the new store of value for the next generation and do they do away with gold and say I don’t want this stinking bar
Of metal I’d rather have a digital money do we go towards a digital future and if that happens then gold could lose its value and so I actually think that there’s going to be a potential war between gold and Bitcoin once Bitcoin gets to about 800 gets to about
100,000 go if it gets to about 100,000 then there’s going to be this tug-of war between gold and Bitcoin of what is the popular store of value and that’s not you know that’s not a war gold really wants to have you know it could lose that war and so gold could become potentially
Irrelevant towards the end of this decade but silver will never become irrelevant because silver has all these usages you know in electronics in medical devices in automobiles so um silver actually has a much better um use case if you will for for long-term survival I think than gold so
I I like silver you you have you have number one you have the leverage and then number two I think it has long better long-term survivability versus gold which is kind of an odd thing but even even with crypto I don’t think crypto touches silver’s value this is where it gets really odd
Is that some people believe that silver will become more valuable than gold which a one to one GSR um so when I add up all the data points I’m like I I want I’m going to own silver very interesting especially what you mentioned about uh Bitcoin potentially competing with gold as the
Pr preferred store of value um I hold both Bitcoin and gold um and I I have some guests on this show that that feel the same way but you’re one of the first um gold and silver experts that I’ve had on the show to actually kind of lay it
Out like that and say that that could be a possibility so that’s a very interesting um scenario to also consider I’d like to now move on to the mining stocks and obviously there’s a lot more Choice when it comes to gold miners as opposed to Silver because so much silver
Is mined as a byproduct of other metals so there’s not nearly as many Pure Play silver miners out there but if you were looking um at let’s say a pure play silver mining company as opposed to gold which on a broad scale do you think presents the the better value right now
Is it silver as well because of the potential for for the price to go up um at a much higher rate than gold oh absolutely because of the leverage you’re getting I think that Silver’s getting ready to run here for this year um from 30 to 50 and once it once it
Gets about $30 I think it’s going to be Off to the Races once you get to $30 silver the margins will be about 30% and until you get to 30% the sentiment basically going to remain very low in in the in in these but once you get to a 30% margin then
It’s going to bring in a lot of investors and so and then every dollar above 30 the margins are going to keep blowing out and getting B bigger and bigger and bigger margins right now in gold miners are much better than silver miners but once you get about $35 silver um they
Basically they’re going to start leaning towards silver the silver miners are actually going to have higher margins uh for instance once you get to $50 silver for instance if your all-in cost is 25 um your margins are are pretty massive you know 25 it’s you know 50%
Margin is it 100% margin so 50 I think it’s even better than that um if you go from $25 Break Even cost and $50 silver 25 and 25 I don’t know I have a cold my head’s not working I don’t know if it’s a 50% margin or it’s a 100% margin I don’t
Think you have 100% margin so I think it’s a 50% margin but they get really really they can get really really big in the silver miners uh versus gold because Gold’s not going to make that kind of run um you know you’re not going to have gold run from 2,000 to 4,000 for
Instance you’re not going to have those kind of margins in Gold so silver has more potential um with margins higher higher margins which I think will push up the valuations of the silver monitor so for me I’ve been talking about this group of seven stocks that I’ve been calling the
Mormons because you want to marry all of them you want to have seven wives so you have uh panamic hecka c um first Majestic Endeavor Fortuna and I think fres Neo is the other one so you want to have these quality producers that the the institutions are going to
Buy the the the basically the brand names so I I call those the Mormons you want to basically own have own all of them and make sure it’s been great opportunity time to buy them because they’re all cheap I mean they’re all basically five Baggers or better which is crazy because they’ve
Gotten really cheap because the margins are so terrible I mean Silver Crest is really the only one that has really good margins of all of those seven stocks but but their margins will improve dramatically as the price of silver goes up so you want to buy those to the
Bottom right now um Endeavor like traded yesterday at1 82 which is just ridiculous I bought it in 2016 at A180 and it’s come all the way back um so that one is one of the ones that just still bouncing the bottom so you you just want to you know you buy it a182
And just if it goes lower but you know buy it a1701 60150 just buy to the bottom um some of these others have bounced off their bottoms I don’t know if they’ll go back down CER is trading about 210 220 it bounced all the way to
350 now it’s back down I think it’s not sure what it closed today but I I think it’s under 350 so it’s maybe it’ll go back to 250 maybe um heckla um if you can get that under $4 but panamer I think is down to 15 if you can get it
Under 14 so a lot of these Mormons you want to buy them as low cheap as you can get to get ready to you know hold those for the Run that’s coming you want to own those from the the move from 30 to 50 silver and the reason why why it’s
Going to go from 30 to 50 is because of technicals um silver hasn’t been above $30 since 2012 so when it gets above 30 it’s like blue sky it’s going to be really hard to stop it be like a train you just you won’t be able to stop it I don’t think
That’s why I think it’ll go from 30 to 50 within six months so it’s going to be a really nice run and and those seven stocks are are all going to participate I’d like to get some insight into how you evaluate gold and silver mining companies um and maybe starting
With the scenario that a new Gold Mining stock crosses your desk let’s focus on gold first um what are the main factors you’re looking for and potential red flags that might turn you away um so you have three different you actually have four different types of miners that and they all get analyzed
Separately differently they don’t and I wrote a book about how to do this when I started doing this 2004 in investing in juniors there was no books available so I had I learned it on my own and then I published my own book it’s on it’s on
Amazon has has a lot of five star reviews like over a hundred um so this is something you know I’ve tried to do this before but it’s so technical I mean it can get really boring about go but I I’ll start you slow me down it’s
Really because so if we start with um like say developers developers I look for certain check like five boxes they have to check all all five boxes or else I basically you know it’s a no-o for me so the first one is is value I since they have high risk I
Don’t want to touch anything that isn’t a potential 10 bagger let’s say $33,000 gold it’s got to have big upside it’s got to be cheap that’s number one number two is the location I don’t want there’s certain locations that for me are non-starters I’m just not going there like I I don’t
Do sou I’ve had bad luck in South Africa I don’t I don’t do South Africa anymore you know um Philippines um bad bad luck there Indonesia bad luck so there’s certain certain places that I just avoid but I I but I I’ll take more I probably
Take more risk than a lot of investors in my book I talk about it but there are certain locations that I will avoid so locations is definitely um you know a big issue there um next one is the management team and the management team I they need to basically have the
Ability to build the mine done it before um I I might make an exception here if they haven’t done it before um if they have a if the CEO hasn’t done it before but he has a good team around him I might make an exception but you
Know I the the stronger the management team the better that that can add some risk uh I find that a lot of these and some of this the management team if I feel the management team is is weak I might not you know invest as much if
It’s you know they’re very you know Green behind the ears you know they haven’t done this before very young I might not be as might be as bullish um about that um the next one is is guidance and guidance to me is is you know all all of these are deal breakers
They all they all basically need to be you know pretty solid if you will so guidance this is probably the one where they miss the most some some but yesterday somebody you know on Twitter I’m on Twitter and he he sent me a company so I did a list of of 10
Baggers and it had had like I think like hundred over 100 names on it and there’s so many cheap cheap stocks right now at $3,000 gold and he gave me a list of this one company I don’t know if it’s on the list or it wasn’t or what I liked it
But I told him I said I don’t own this stock and the reason why is because they’re not giving us strong guidance um and oh I think it was baru but I’m not positive might have been bezra bezra breu is one of those two but I went and looked at it
Um you know it’s it’s it’s they have enough gold that’s that’s not the issue the paa is strong it’s okay there but the company is not giving us guidance on exactly what they’re going to do how they’re going to take it into production and this to me is this is
This is kind of part of the guidance and management are somewhat related here and for me I want a company that’s passionate about taking the company taking it to production so management has to be out there marketing it telling us and they this is like this is our
Plan I love a company that has a plan and they’re telling us what they’re going to do uh silver tiger and US Gold are two really good examples of companies that are basically building projects they’re telling you exactly what they’re going to do this is what we’re going to do
ABCD and and and all they’ll answer questions on all each letter ABCD every every step they’ll answer questions um and so you get a good feeling that not only do they have the the the guidance that you okay this is how we’re going to do it but they have the passion behind
It in other words we’re this is what we’re doing it’s feta compete I I want that feta compete feeling it’s like this is what we’re going to do it’s going to happen and then the final checkbox is Insiders I want them to have enough insiders that they can pull the plan off
So some guy call some company calls him on the phone and says yeah we like your project we want to buy it we’ll give you 100% premium that’s a pretty good offer but you know we’re going to build it ourselves so you have a good
Day that’s what I want so I want them to basically say no they they you know they have Vision they want the profit they don’t want to give it away they want for themselves and so those are the five check boxes that I look for
Now in addition to all that there in my book there are a ton of additional data points that you look at so now we just go and we look at that that top box that valuation box and that valuation box it also has part of that valuation is the
Project and the property being you know how many ounces do they have what’s the grade what’s the capex what’s the nav you know you know what’s going to be the a what the what’s the Asic what’s the irr um you what’s the recovery rate you have all these little data points that
You have to look at that are part of that valuation that gives you that gives you confidence that that cheap valuation actually holds water okay it’s a Tim bagger but it’s a Tim bagger but is it a good project is is the project there and then another one that I didn’t really
Talk about in my check box is that you know how long is it going to take them to build this thing you know the guidance is one thing but what is it gonna are they going to be able to do it in three years it going to take five is
It going to take seven I I like a construction decision within three years but I’ll go longer I have no problem going longer it’s a long-term investment I’m not I I’m not a kind of guy that says that one’s too far I’m just gonna I’m not going to do it if
I really like it but again it gets into the gets into the weeds so there are a lot of decisions you have to make as an investor um you know how at what grade what’s enough what recovery rates enough what MPV is enough so you’re going to compare the npv to the
Capex how close does it have to be before you know it’s okay you um I was I I saw today a news release somebody had a capex higher than the MPV well that’s a non-starter for me I’m not going to buy that stock you want the capex to be about half the
MPV you can you can go higher if it’s a starting mine and they have they’re going to grow this thing there’s so many factors it takes you know it you have to be doing this for at least two years to even come CL get any
Close and inkling to all the all how the little details that come into play when you analyze these companies and I’m right now we’re just talking about development so we can’t really do you know exploration and producers it just it’s too detail oriented if you will and
People get bored to death well I don’t know if viewers here would be getting bored to death you’ve already given some amazing information just in that little snippet what is the name of your book for people who want to look for that um how how to invest in gold and silver a f
Fus on mining stocks with mining stocks yeah yeah have to do is just go to Amazon and type my name in and look for the gold book great I’ll actually put a link to it in the description below so people can check that out if they’d like um you mentioned pea preliminary
Economic assessment there how do you look at economic assessments do you require them before you consider investing in a project and um you know obviously the confidence levels goes goes up when you go to a pre- feasibility and a feasibility study but none of these documents are necessarily
Set in stone so how do you look at economic assessments when evaluating a company pea is is the starting point for a development company so I wouldn’t even consider investing in a development company without pea that would be needed and I really want to know you know where’s the
Guidance for the PFS when’s the PFS coming i’ I’ve actually I probably done a poor this is one of my weaknesses as an investor because I own a lot of positions I probably have bought way too many development stories um on P only on peas and and that’s really not smart you
Should really wait for the PFS because once you have the PFS you have a better feel for the cost you have a better feel for guidance where they’re heading um I’ve seen companies with pasas just linger and linger and linger never and the project never gets
Built and so the one thing that the paa is going to give you is is the difference between the the the nav and the capex which is really which is a really important data point so Pas are important um it can’t it’s basically a starting point for
Valuation it’s kind of a starting point for getting a feel for you know is this m ever going to get built or when it’s going to get built I always like to see him like tutor gold they’ve been drilling forever and they’ve never done a paa and it frustrates me to know in
Because people have told me that you know this mind is is basically going to be too costly to build and mine it’s just not going to be economic because of refractory or and I’m going so and I don’t own it because I’m just been waiting for the paa give me a paa give
Me an idea you know of what your costs are going to be and they they you know they won’t do it and they it’s really their CEO he’s very slick he’s like oh we’re going to do that next year yeah go to their website right now and look for
Guidance that it’s coming out in 2024 even though he told me they’re going to do it next year and it’s going to be very it’s not going to be that it’s not going to be very difficult to do and it’s not going to be expensive but okay where where’s the guidance for the
Pea I always want to see a PA as a starting point for a project both as an exploration um and a development it doesn’t really apply to producers I want to see it um I want to get a feel for the once you have a pea you can get you
Can basically value a company and without it you’re blind so when evaluating silver miners let’s stick to developers here is there anything different about your process are you looking at whether they’re producing silver as the main metal or as a byproduct of another metal is there anything significantly different about
Silver deposits that people who evaluate these companies need to keep in mind or anything else um that differs from the way you look at a gold Company by and large yeah there there’s a significant difference because generally with gold miners the offset medals are not as not
As significant if you will because you don’t see a lot of low grade unless they’re copper unless they’re gold copper projects but if it’s a if it’s a if it is a gold mine if you will generally the gold is economic on its own if it’s an open pit it’s point8
Grams or higher if it’s undergr it’s five grams or higher you don’t see a lot of companies really unless again it’s a gold copper mine but you don’t see a lot of underground gold mines that are not at least five grams or if they’re maybe
Three and a half four but most of them are economic on their own um so it doesn’t really become a big factor if you will what becomes the factor is your cash cost is the cash cost low enough to that they have a good enough margin um where it’s interesting you you
Don’t want a high cash cost mine so as long as the cash costs are about thousand bucks or less you’re you know you’re you’re like and it’s a long life mine and then it basically pencils out to a five plus bagger then I I you know I might be
Interested um now Silver Mines they’re a whole different animal because most of your Silver Mines they actually mine them in silver equivalent they’re not Silver Mines they’re silver equivalent mines and the silver equivalent is combination of silver gold zinc lead and sometimes a couple others those are but those are usually the main
Ones um and you’re not those base metals are those are required if they go down in value they’re generally not going to go up in value so this is this is the the real big takeaway here is that when you have a lowgrade silver mine the one let’s say it’s let’s say
It’s 60 grams per ton silver but it’s 150 grams per ton a agq well the only metal that’s really going to explode in value is silver but you’re not going to get the leverage that you’re going to get over another company that’s highgrade silver because the other minerals aren’t going
To go up in value so your costs are really aren’t going to come down that much your revenue is not going to go up that much because all these base Metals don’t go they don’t go up that much so you have to think in terms of oh
Silver’s going up my revenue must be going up my free cash flow is going up but if it’s a low grade silver it’s not happening so you want so you got to be really careful on these low-grade Silver Mines because you just don’t have the leverage that you’re going to have have
My high one so I like to have at least 120 grams at least 120 grams of silver and then 150 180 once you get to about 180 which is 6 ounces per ton um you’re generally pretty good um as far as leveraging silver you don’t have to really worry about you’re
Not really low grade so about 150 180 and I’m pretty comfortable I’m like that’s a silver mine once you get below 90 90 below 90 is like kind of a cut off it’s not Happy Valley for me but you know 90120 is like that’s like barely
Make that’s like okay City you know kind of thing and then 150 above is you know excellent City and then yeah below below 90 in your Death Valley kind of thing it’s like oh that’s not good yeah they’re making money but they don’t have the leverage that we want
Because we when silver breaks out we want this stock to break out too and investors are going well hey their free Casal is not going up high enough Don I’m not I’m not going to I’m not buying it so your share prices aren’t going up
So you got to pay attention a lot of these Silver Mines are actually silver equivalent mines and um and you know they’re not super leveraged versus like like Silver Crest I mean it’s it’s basically an all silver silver gold mine which is beautiful it’s like 100% leveraged
Silver price goes up it goes up I I love that you know it’s one of the few I is another one I is basically silver gold um first Majestic silver gold um so when you when you got that mainly silver gold you don’t have a lot
Of of lead and zinc it gives you a lot more leverage I mean it’s nice I I would prefer to have like only 20% base metals or less that’s kind of my sweet spot I don’t really want to go 5050 like but I will do it sometimes like I own Santa
Cruz Metals they’re like 30% silver but I think they’re going to get to 40 but they’re producing like 14 million ounces a year s of silver equivalent so when you’re producing that much and they’re that cheap the pro they have a problem with debt huge problem with debt so I’m
Family is a spec bet I’m just giv an example of a lowgrade silver Miner if they can get that debt paid off next year um and survive uh silver prices go to like as long as silver prices go to 35 bucks next year I think they’ll be
Okay um if they can survive next year and kind of fix their balance sheet and then silver prices explode higher silver silver prices get to 50 bucks I think their silver production should be about 40% of the Reven Revenue at that point it should have some really pretty strong leverage from
$50 silver up to $100 silver and if their valuation it kind of works so some of these lowgrade mines and the reason why it works because they have so much of it right 14 million ounces so it’s low grade but they have so much and they
Make up for it in volume versus if they were only mining three million ounces a year and it was 4060 then you know probably doesn’t work that well so you have to be careful on these small miners they’re very risky a small Miner that’s a silver equivalent that’s low
Grade is a very dangerous investment so you got to be careful on that because they just don’t generate a lot of free cash flow um and then silver prices go up and they just don’t have the leverage they don’t work they don’t you know explode higher um but sometimes the volume can
Make it up like silver x has they they have a lot of um it’s a small silver minor and they have a lot of lead and zinc but they have a lot of silver equivalent they’re kind of like Santa Cruz they’re not as big but they can grow production and
Grow volume and volume can make it up so if it’s a small minor and they have a lot of silver equivalent in the ground and they can grow production I don’t mind those plays because as long as it has that volume it can work so small miners that can’t grow production that I
Don’t like unless it’s a company like impact silver is pretty much a pure silver Miner I mean they can mine a million ounces a year and make money because it’s pure and when you’re pure that’s where your Leverage is and so but they just bought a zinc mine I think so
Not so they I don’t like it when these companies go away from their Niche but they just did they bought a high it’s like 133% zinc um but it uh can generate a little bit additional free cash flow for them to help their balance sheet I’m just hoping they can get to 2
Million ounces of pure silver production um but so I don’t necessarily dislike small silver miners but I’m very picky I’ll I’ll basically ignore a lot of them and say it’s a small minor small minor impact’s one of the few impact silver x and Guan those three I’ve kind of okay I’ll
I’ll risk I’ll risk those small ones and when it comes to royalty and streaming companies how do you view those obviously much less upside potential generally speaking much less risk we saw Franco Nevada crater a bit recently due to their 177% exposure to the Cobra Panama mine which is facing all sorts of
Issues um how do you view the royalty in streaming companies well they they don’t fit my strategy my strategy is to go after big Alpha you know I want a company that’s at least 300% and ideally 500% to a th000 I’m actually chasing 10 Baggers I mean that’s kind of my goal I
Have like 164 positions and I’m hoping to find like 20 10 Baggers out of that and so I’m if I’m chasing 10 Baggers I’m not really going to be chasing royalty plays I think royalty plays work really well if you’re an in if you’re a conservative investor you’re after
Dividends and you’re after security you know you basically if you like numont um you you like baric and agnico Eagle then you’re probably GNA like Franco Nevada and Sandstorm and silver weaton I think I think the majors and the big uh royalty plays uh are similar
Stocks as far as risk reward goes and so I think it they fit there they fit in that Niche I I use three Mutual gold mutual funds for my major exposure because thing about I like about M um Mutual ual funds is they actually pay out your capital gains
Annually so those three mutual funds I’m getting if I I’m doing it for dividends I’m doing for income I’m getting paid yearly whenever they do good I do good and so you get out really big returns and so I I prefer mutual funds to chasing dividends on
Majors um because again they the mutual funds actually pay out in the US of a US investor they pay out capital gains annually and so I that’s the way that I do that and so instead of buying a um a royalty play or buy a major I’ll just stick with
My three mutual funds and do these mutual funds hold a basket of minors are they mostly the majors yes well how are they composed okay yeah they’re mostly the majors mutual funds can’t really buy Juniors because they’re not enough liquidity so they stick with large mids
And Majors now they hold 30 to 40 stocks 30 to 45 stocks and they’re basically most of them are dividend paying vast majority of dividend paying so they’re basically going after the Quality Companies I mean I could just do one um mutual fund I mean there’s no reason why they’re all
Basically very similar but the reason why I do three is for diversity and I don’t want to put all my eggs in one basket and have high basically what I did was I put but my very first M mutual fund I I invested in it for 10 years to got to 5,000 shares
Once I got to 5,000 shares I’m like and that was about $65,000 after that I was like I don’t want to put any more money in that I’m gonna go to I’m not gonna so I went to another one I put 5,000 shares went to another and they’re all about $50,000
Another one 5,000 shares so it was all about diversity for me well Don this has been an incredible conversation you’ve provided so many useful bits of information glimpses into your process um for those who want to learn more about your process and dive deeper tell us about
Gold stock data.com and what it is you do there well it’s a fantastic website for anybody that owns a gold or silver Mining stock it’s not really for newbies if you don’t own any I don’t really recommend it um you know but once you own own one or
Once you you start doing gold and silver mining stocks then it makes a lot of sense the database has about 850 it has basically all the gold and silver miners in the world that have a market cap over 10 10 million I’d say maybe there’s only 10 stocks that are missing and they’re
They’re missing because I don’t cover um the Hong Kong um I don’t cover that one and I don’t cover Germany so those two exchanges probably May there might be 10 stocks I’m missing but I cover the rest in the world so the database is very comprehensive the search engine is very comprehensive
I mean you can search by just about anything um and then in tanon with that for every stock that’s in my database I actually do a two three four paragraph analysis of the company so you and then I grade them I have three grading systems you get you get data you get my
Analysis and then you get the grading and then you can search by the grading it’s like okay show me Don every stock that you have rated with a B higher b b plus a or every stock you have with a four or higher I mean there’s so many
Ways to do searches so the database is worth it’s definitely worth if if you if you’re looking you know say I want to go find a development stock let’s go see what Don likes let’s go and then then I have all these links you can do all your
Research uh plus it has a forum with a bunch of smart people in it you can ask questions plus you get a newsletter so it’s a it’s it’s a good value I created it at as an investor for investors great well I’ll put a link in the description
Below to Goldstock data.com as well as your book if people want to check that out as well thanks once again Don for coming on and sharing your knowledge with the audience sure Jesse thanks for having me on and thank you for joining us today as a reminder this episode is
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