Copper, gold and more

This is your Resource Stock Digest editor Gerardo Del Real here with some Monday thoughts on what I’m watching this week.

I am most definitely keeping an eye on copper, which is now flirting with the US$4.60/lb level — an important one technically.

And listen, let me be very frank… whether or not we break through US$4.60 this week or next week, it is absolutely going to happen and then heading much, much higher from there. 

There are some very high-leverage stock plays that I'm keeping an eye on that subscribers of the premium publications, of course, have access to. 

These are stocks that have market caps of C$2 million, C$3 million, C$4 million that, in this kind of copper market, and in the one I see developing, can absolutely go up five-fold, ten-fold, and even twenty-fold with a little good luck and a lot of hard work.

Beyond copper, I am also paying very close attention to the lithium space. The recent auctions by major producers have all fetched pretty significant premiums. 

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To me, the lithium bottom is absolutely in. And we're definitely starting to see some of the equities respond, including some of the major names like the Albemarles of the lithium world getting good volume and price action.

The same goes for uranium, which looks to have put in a solid bottom at right around the US$90 per pound level. I’m expecting triple-digits once again in the uranium price pretty soon here. 

Last but not least, I’m definitely watching gold and the dollar index. Those two have been pretty evenly correlated here over the last several quarters.

I’ll be watching to see if that continues or if we get a bifurcation. We currently have the dollar index close to 106, and, yet, gold is still trading firmly at the US$2,335 level as we speak.

A couple of names to watch: Southern Cross Gold continues to report phenomenal results; Mawson Gold, of course, owns 51% of that Australian subsidiary.

And it’s no coincidence the stock is up some 10% today, some 12% for the week, some 35% for the month, and over 127% over the last quarter. So absolutely keep an eye on Mawson Gold and Southern Cross Gold.

That's what I'm watching this week. Folks, take care out there.

Let's get it!

Gerardo Del Real

Gerardo Del Real
Editor, Resource Stock Digest