Gerardo Del Real,
Editor
Sept. 30, 2024
This is your Resource Stock Digest editor Gerardo Del Real here with some Monday coffee talking points.
What am I watching for this week?
All eyes are currently on the lithium space with lithium equities being very oversold. The lithium spot price seems to have bottomed, and the equities are finally now trekking upward.
Plenty of bargains are available. If you're going to buy the lithium producers, buy producers that were able to hang in there during the downturn and consolidation. If you're looking to buy the explorers, you have the luxury of being able to load up near 52-week lows. It's an opportunity that I, as a contrarian, will most definitely be taking advantage of.
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I’m watching for a healthy correction in the gold and silver space. As you know, the precious metals have been red-hot and are overdue for a temporary and short-lived correction. Again, healthy corrections within a bull cycle are perfectly normal and actually welcomed. I believe we’re going to see that shortly here.
Copper has been on an absolute tear of late and is now very close to topping US$4.50 per pound. I’ll be watching out for news from some of my favorite copper explorers this week.
The red metal looks primed to head even higher due in part to stimulus out of China that includes a combination of lowering rates and injecting stimulus. China’s doing it. The United States is doing it. Everyone’s doing it! I believe we’re going to see other governments following suit… so I expect the copper price rally to only strengthen from here.
That's what I'm currently watching. I hope everyone has a great week.
Let's get it,
Gerardo Del Real
Editor, Resource Stock Digest