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Thanks to the fine research of Taylor Dart, who is well thought of in the sometimes seedy world of gold stock analysis, I’d like to combine that value analysis (with the Mali political caveat still in play) with the weekly and daily charts.

Despite its Mali political disadvantage (mining concessions to the government), which has long-since been factored into the price, BTG is performing operationally and my original reason for interest was its takeout of Sabina Gold and Silver, which is still a big catalyst for the future. You can read more about BTG’s fundamental situation here. Taylor’s analysis is dated (June), but the theme remains the same, despite a 28% rise in price since then (GDX has risen by more than 28% since then and of course gold has also been steaming upward).

The weekly chart shows a falling wedge break and an attempt (still in-week, after all) to break above resistance in the 3.23 area. RSI and MACD are on a bullish script. Big volume drove the spike up and out of the wedge, an impulsive positive. The stock then declined and successfully tested the wedge top and associated support. Not bad.

The daily chart dials in the situation, showing that the wedge retest also tested the 50 day moving average, which has turned up (SMA 200 still flat). RSI and MACD reset from overbought and the objective – if we are right about 375+ for HUI’s next objective – would be to around 4, which was the 2023 high.

Bottom Line

BTG is a stock trading at a value to its peers, but with political risk in some of its operations. Hence the valuation relative to a purely Canadian producer, for example. My interest is mainly due to its future with Sabina’s Goose project, now in construction. Sabina was a stock I’d probably be holding now if it were still independent.

The stock is attempting to break out of a base and could play some catch-up, although in my opinion it will likely continue to carry a lower valuation than peers with less political risk. I have it on watch, so that’s my disclaimer. I am not talking my book because I don’t own it. But if I do buy it, I’ll be talking my book.

Just presenting some ideas on items that have not already blasted off, here and in updates/reports to come, while holding what I hold with HUI 375+ in view, currently.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.