Vince Lanci: Banks Are Looking At The Silver Miners Now

Vince Lanci: Banks Are Looking At The Silver Miners Now

all the analytical firms that have
mining on their books they’re going to
start putting out reports so that’s
going to be very good for Minds as
institutional interest increases uh
unlocking uh their undervalued and
hopefully getting up to a relative value
so I think mind should outperform
bulling in the next leg provided bulling
remain stable welcome to the morning
markets and medals with Vince Lancy
where each day he brings you the
precious medals in financial news to get
you ready for your day and now here’s
Vince good morning I’m Vince Lancy and
this is the morning meeting today we’re
going to be talking about Silver Mines
before we get started on that let’s do
the markets themselves the dollar is up
15 10 year olds are flat uh S&B 500 is
down five handles the vix is 1484 up 16
gold is down 24 bucks at 2311 silver is
down 57 cents at 2655 copper is down
almost 6 cents at 457
WTI is the only commodity
actually uh pushing against all this up
26 Cents at 8349 natural gas I’m sorry
is also up
187 Bitcoin and ethereum both destroyed
61,000 in Chains Down four and 4.3%
ethereum is down over 6% closing in on
seven at 2998 Platinum plaum are both
down plaum down 20 at 950 Platinum down
12 at 9936 grains are also down wheat is
the weakest I think down 8 cents at
600 okay so uh before we get that if
you’re looking at the uh the commodity
markets notice that the commodity
markets are weak and the stock market is
relatively stable and the dollar really
isn’t doing much to Warrant these type
of moves if you’re looking at
correlations so I’ll give you uh uh some
some framework to look at there commodes
have had a very nice run
um uh recently and that’s a a factor a
result of a couple things one is the
world has gone from in its recovery it’s
gone from consumption to manufacturing
so all the uh manufacturers are buying
Commodities and all the speculators are
buying Commodities ahead of them and
China is supposed to be coming out of
its uh problems with some stimulus
bazooka if you want to call it that has
been part of that reason copper is an
example of that very recently uh it had
a very big move now the things pushing
back against that are okay you have a
healthy possibly healthy uh uh
retracement what would be causing that
well maybe something is faltering in
China and certainly something could be
faltering in China when you consider
that the Yen keeps debasing if the Yen
keeps getting weaker the Chinese Yuan
may have to weaken Chinese Yuan does
weaken then that’s less buying
Commodities out of China so you got to
wrap all that together the thing that’s
easiest to grasp I think for Americans
is while the FED is going to
be uh doing their rate decision tomorrow
now while I don’t think there’s a chance
that they’re going to be uh a reasonable
chance that they’re going to raise rates
I think that people are a little bit
nervous and trying to book some profits
so there’s the markets themselves let’s
get to the story uh there’s two things
today uh well there’s one thing today
plus a a little story uh by me there’s
the fromont page uh again this report is
really something you want to look
at the silver Pages all right before we
get started on the silver page I want to
tell you a little Echo Bay mind story
when I was a market maker on the floor
trading silver options that’s where I
got my start having mastered silver
options and being uh the best there ever
was at it
um uh I decided to go back to my
fundamental roots and I started looking
up Silver Mines and Echo Bay mines was
uh the first mine that I bought uh and
and well years go by and in
2008 I started a business well having
booked a big profit I started a business
Consulting and I wanted to go back to
mines and I started visiting mines I
started Consulting with them on their
production and I said you know what I
want to buy something that reminds me of
when I when I started so I looked for
Echo bay.com and it was owned by one of
the mins I’m not sure if it was kin Ross
or or cord Delane I forget who who owned
it but it it had rolled up into some
bigger mind and I bought the name Echo
bay.com and so there you have it Echo
Bay Partners is uh an homage to Echo Bay
Silver Mines and that’s my initial
silver pedigree that’s really OG stuff
incidentally Echo Bay Echo Bay mins Echo
Bay was going to be the name of eBay
initially but because it was owned by
someone else he went with eBay as
opposed to Echo Bay anyway moving on to
the main events that my story Bank of
Montreal big natural resources uh bank
they have a report called the silver
pages and the silver
Pages uh as you would think is about
silver mins right so it is a
comprehensive review of operating
evaluation metrics for a broad Universe
of North American and Global silver
companies the data set can be used to
evaluate the relative investment merits
of global silver stocks based on
consistent and rigorous analysis over
range of valuation and commodity price
scenarios that’s their self- description
now this is a very dry report very
balance sheet oriented very Excel
spreadsheet oriented with some very
helpful charts but not very userfriendly
looking if you’re uh a retail investor
like I am I’m gonna go through a couple
of the slides there uh one thing I’ll
say is that there’s not a lot of writing
in this but it’s what comes out of this
you know this is this is put out on the
29th of April look at the date there two
days after Newmont right after UBS all
the all the analytical firms that have
mining on their books they’re going to
start putting out reports so that’s
going to be very good for Minds as
institutional interest increases uh
unlocking uh their undervalued and
hopefully getting up to a relative value
so I think mind should outperform
bulling in the next leg provideed buan
remain stable down $24 in Gold that is
stable okay let’s not get crazy
down UH 60 cents in silver that is
stable within a range all right so let’s
look at a couple slides give you an idea
some color for this uh there’s the table
of contents table of contents is pretty
thorough I put a red rectangle around
stuff that I’m looking at as a Trader
silver price sensitivity makes it makes
it more of a uh of a beta play uh next
chart uh there’s a silver price Sensi
sensitivity uh showing uh by mind some
of the mines are core mining first
Majestic Fortuna hea
panamerican Gatos go gold mag silver and
Silver
Crest all right and they go through all
those based on different price scenarios
for silver uh here’s a chart implied the
red in the middle that’s the price of
silver okay uh to the left is uh imply
Net Present Value sensitivity so it’s
kind of like if silver
moves are they less or overly or or more
sensitive to Silver so if you want a
pure play on Silver if you want a play
that’s more leveraged to the price of
silver you’re going to go with uh
uh mag SL and G right okay so
so your your companies that are
leveraged to price of silver uh will be
companies that have a lot of probably
financial leverage um well no actually
I’m not necessarily sure about depends
on the company right it’s been a Wason I
looked at these and on the left uh you
have uh GGO CDE fortun uh
Fortuna and uh pass and Heckler okay so
you have all these all these uh uh
mines and what are these Stripes here
okay the large are with the uh stripes
and the medium size are without the
stripes so you could see that in general
the larger mines are less sensitive to
the price of silver now that could be
because they have other metals in their
portfolio it could also be because they
have uh uh uh different type of hedging
books they’re more mature so they’re
going to be more stable and you’re
buying a business that is in silver on
the right hand
side uh a lot of a lot of uh the miners
will be more sensitive uh because they
have an under hedged book they might be
more Junior although I’m not sure all
right so that’s that’s my rambling
comment on that here is the
commodity forecast
assumptions nothing spectacular there
they haven’t really raised them they’re
looking for $28 by the end of year in
silver uh key valuation metrics uh this
is probably the most interesting thing I
think for um uh for people looking at
these producers core is a market
Behavior Uh market performance I should
say first Majestic market performance
Fortuna overperform outperform hecka
outperform panamerican outperform Gatos
Market uh go gold outperform with an S I
don’t know what that s means mag silver
uh Alper form silverrest Alper form you
could see that it would seem to me that
the bigger the mine uh the less uh
they’re expected to outperform which
makes sense because those are the mines
that are the only people only put their
money into the bigger mines of mining
companies if at all you know it’s the
this is consistent you want to see this
that means these smaller minds or or
Majors that haven’t been discovered yet
are the ones that are undervalued and
this is consistent with things and
that’s their that’s their pick of what
what they like also we have a medals
brief uh this is actually very good I
haven’t seen this in a long time uh but
you know silver on everyone’s radar
getting to the news uh Elon Musk uh
wrapped up his visit to China uh again
what did I say yesterday don’t short
Elon Musk well there you have it uh he
got what he wanted out of them I don’t
know what that means you know what he
gave to get it but you know he may end
up buying Tik Tok for all I know
currency Traders warn Japan’s government
that it will need to repeatedly act to
boy the baguer Yen driven economic Force
everyone talking about the Yen yesterday
well that’s because the bank of Japan
seem to come in to uh not get back in
place which means they’re getting a
little bit nervous Federal Regulators
find wireless carriers Verizon AT&T
mobor Sprint they 200 million for
sharing customers location data without
consent again bigger incumbent
technological companies are getting
attacked by the federal government not
that they don’t deserve it
geopolitics uh it’s more the same and
it’s just not good you know the IDF you
know uh on a good note right
uh they’re talking it says the The
Invasion possible they’re talking but
everything else
here you know uh the hooes are just
attacking uh our ships at will now uh
China is pushing back against the
Philippines
uh Shanghai Maritime safety
administration said military activities
will be carried out in part of the East
China Sea everyone’s pushing back
pushing against uh American uh presence
right all right data today is the S&P
ker home price index 20 cities uh
Wednesday is the federal uh interest and
there’s the reports promised for premium
subscribers have a great day I’m Vince
catch you later Echo Bay mines and by
the way I own Echo Bay I had to pull it
down when I closed my CTA down years ago
but echo.com it’s not for sale thanks
for watching this morning’s markets and
metals update with Vince Lany brought to
you each day by Miles Frankton precious
metals where this week’s special is junk
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#VinceLanci: Banks Are Looking At The #Silver #Miners Now

Gold and silver prices are down sharply this morning, with gold down $38 and silver down 85 cents. But even with the precious metals off from the highs of the recent rally, the banks are continuing to write about the value in the mining stock sector.

So in today’s show, in addition to going through the latest precious metals news and levels, Vince covers some of the bank research, what they’re saying about the miners, and what you can take away from their comments.

To find out more, click to watch the video now!

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