The Gold Miners Bullish Percent Index drops to zero. Yes, you read that correctly. Historical 👀🔥 Total capitulation.

@LRL2017, a very well-informed author, had an excellent column on $PXT about 2 weeks ago on Seeking Alpha. This gifted link by-passes the paywall of his column: seekingalpha.com/article/490…

The first installment of the Q1 dividend of $PBR & $PBR.A, to be paid on May 28, has been fixed. The net amount is $0.103067 per ADR share after tax and fee.

🚨@ParexResourcesis about to 2X production thru accretive acquisition of @FronteraEnergy assets farming into 2 high-potential @ECOPETROL_SA fields. Add a 5.7% #dividend yield, serious upside with income. Election in 10 days 🚀 $PXT $PARXF Don’t sleep on this. Link below👇

You hear this all the time that miners don't beat the metals, they get diluted, juniors are particularly crap. Some will tell you to avoid stock picking and just buy the ETFs, others will say NO, you MUST stock pick... And yet. We're going to be fair here, and start from January 2016. Why, because that's when MSA called the cyclical bear market lows for monetary metals and miners. So let's say you followed our advice and threw your money into every mining stock that was around then, the mining ETFs, gold, silver. And just for fun, you also bought the SPY, QQQ, and all the top tech stocks. Mining stocks must be garbage, right? The mining ETFs must be even worse! Well, $SILJ is beating the NASDAQ100. I saw that ETF getting a ton of hate heaped on it the other day. $GDX and $GDXJ aren't far off. All of the mining ETFs ($SIL, $SILJ, $GDX, $GDXJ) are beating silver, gold, and the S&P500. $PAAS is beating $MSFT. $NEM and $GDXJ are matching $META. $AG is matching $MSFT. $CDE is beating $MSFT, $NFLX, and $AMZN, and matching $GOOGL. $HL is doing even better. $SCZM, a junior, is beating all of the top 10 stocks and Mag7 except $NVDA. I picked on those because they're some of the most hated miners. Everyone always says NEM, CDE, HL, and AG have terrible management, their finances are garbage, blah blah blah. There's over a dozen juniors trading blows with the top tech stocks, even beating most of them, like: Guanajuato, Idaho Strategic Resources, Anglo Asian Mining, Santacruz Silver, Silver Storm Mining, Silvercorp Metals, Amex Exploration, Patagonia Gold, Eloro Resources, Orvana Minerals, Golconda, Skeena, Southern Silver Exploration.

$EC dividend, to be paid on May 7, has been finalized. The net payment is US$0.649290 per ADR after a small (0.027%) tax.

Comparison of 5-year (03/30/2021-03/30/2026) & 10-year (03/30/2016-03/30/2026) total returns of $PBR.A and $PBR vs $XOM, $CVX, $CNQ, $SU, $BP, $SHEL & $EQNR.

The 2nd installment of Q3 dividend of $PBR and $PBR.A, to be paid on March 27, has been fixed. The net amount, after tax and fees, is $0.167926 per ADR.

Sell the S&P 500 and Buy Gold Mining Stocks I think the recent correction in gold mining stocks presents a timely buying opportunity. For the reasons outlined in this research thread, I believe now is a great time for investors to consider selling their S&P 500 Index funds and buying gold mining stocks. Since February 28, when Israel and the United States began a series of missile strikes against Iran, front-month West Texas Intermediate crude oil futures have risen 46.7%. On Thursday, CNBC ran the headline: "Gold and silver sell-off accelerates as inflation fears grip global markets." It reads like an oxymoron. Normally, one would expect new inflation fears, even from an oil shock, to be a bullish catalyst for gold and mining equities. Such fears can also be a trigger for a selloff in an overvalued large cap US equity market. That was the case on both counts from the start of the 1973 Yom Kippur War and ensuing Arab Oil Embargo, as I show in the chart below.

10-year total returns (from 03/16/2016 to 03/16/2026) of $PBR.A & $PBR vs other supermajors.

PBR actually broke out 5 years ago! It has also broke out of tis continuation pattern 2 months ago.

The first installment of Q3 dividend of $PBR & $PBR.A, to be paid on February 27 has been fixed. The net amount is $0.151763/ADR. Note that there is 15% dividend withholding tax by Brazil government.

UST yield curves of 3 months before the first rate cut (06/17/2024), the day before the rate cut (09/17/2024) and today (12/11/2025).

The first installment of the Q2 dividend of $PBR and $PBR.A, to be paid on December 1, has been fixed. The net amount is $0.100746 per ADR share after tax and fee.

“Gold bull markets are designed to shake off all but the most determined and knowledgeable investors.” “The gold bull is the toughest bull to ride. It bucks you off at every opportunity.” --Richard Russell gold-eagle.com/article/richa…