American Eagle Gold drills, stock pops
I noted in NFTRH 899 that I am pretty much done adding gold/silver stock positions for obvious reasons. But that I could possibly pluck an exploration position here or there as several of them that I hold or watch have not yet gone vertical (often an ending stage of a larger metals rally). In fact, I increased my AMEGF (AE.V) position on Friday, when looking for those rare, decent buying opportunities.
Today, AE is nice enough to release drilling data that has excited the market this morning. Or, as CEO Tony Moreau says “all I have to say to that is giddy-up” in this video recorded well before this latest drill data release. Ah, mineral exploration guys. All I have to say too, Tony, is giddy the hell up, baby.
AE is breaking out of its base to the tune of 30+% this morning.
An NFTRH subscriber, who is an exec * with two exploration companies that I hold personally (neither of which are AE) drove home to me the importance of sponsorship by large miners, where exploration is concerned. It lends legitimacy to the project. AE has partnerships with both South 32 and Teck. That played into the reasoning why I increased my positions.
So today we’ve got a 30% doink. Mineral exploration; it taketh away and it sure do giveth at varying times.
* Whenever I get settled enough, I want to figure out the best way to present Podcast interviews with this gentleman along with another geologist (who actually brought AE to my attention a year or two ago) and a few other market people, along with my own blathering.
For “best of breed” top-down macro analysis and market strategy covering Precious Metals, Commodities, Stocks and much more, subscribe to NFTRH Premium, which includes a comprehensive weekly market report, detailed NFTRH+ updates and chart/trade setup ideas, and Daily Market Notes. Receive actionable (free) public content at NFTRH.com and subscribe to our free Substack. Follow via X @NFTRHgt and subscribe to our YouTube Channel. Finally, watch for A New Situation coming soon!
