Thought for the day: "In a market where the marginal buyer is an idiot it doesn't pay to be too smart"

Worth reading for any TSV speculator who wants to understand how the conflict of interest between management and shareholders can sometimes play out in Canada $EMO For once the Ontario Securities Commission is taking action and shareholders of EMO also are waking up. I wonder if @drjimjonesceo, a long time supporter of Emerita, who describes himself as an ‘activist investor’ is a party to the shareholder suit. It remains to be seen how the courts deal with this. newsfilecorp.com/release/297….

If this was a stock you might buy it

culperresearch.com/wp-conten… The Nexgen short report. Says the company is a management enrichment scheme. Who could have guessed?

Unpopular observation: Jim Cramer was right about silver!

The kangaroo ate my homework. Aussie golds underperforming the AUD gold price by 4% so far this year. Is @DebraG_Robins the only bull downunder?

It must be a commodities bull market, even zinc is breaking out!

Equity market convinced these gold and silver prices not real.

Important.

Physical silver now trading at a premium to the December future:

$CTM.ax Centaurus just wiped $40m of their market cap to raise $17m.

$MAI Minera Alamos - it's not the deal in itself that is bad - Fiore is an ok asset, or the price paid - which seems reasonable, but the horribly dilutive terms of the deeply discounted financing warrants. A company that had a good knowledge of its shareholders and good relationships with them would have been able to have a sensible discussion pre-deal and finance this with an at market-price issue. It's ironic that one of the distinguishing features of MAI in the past was the fantastic IR job that Doug @dougcan consistently did and the relationship he built with the shareholders. But he seems to have disappeared from the scene.

Re the $NGEX royalty spinout, these things tend to do quite well. Here's Vizsla Royalties $VROY vs silver and $SILJ since the spin.

Interesting that the de-escalation narrative that has hammered oil has not taken down gold. Maybe because the new defense spending impetus in the US and Europe means that any pretense of controlling deficits goes out the window.