Gerardo Del Real,
Editor
Nov. 25, 2024
This is your Resource Stock Digest editor Gerardo Del Real here with some Monday coffee talking points on this Thanksgiving week.
A lot going on this morning.
Leading with Bitcoin… the bellwether coin has yet to breach the US$100,000 level and has, in fact, pulled back to just above US$95,000, which is probably a healthy pullback given its recent run.
Speaking of recent runs followed by healthy pullbacks, gold is currently lower by about US$83 per ounce, or roughly 3%, at US$2,630.
Now, the question everyone should be asking themselves is do we get back into the US$2,500s or do we buy the current dip? I think we buy the dip. Reason being… I think, longer term, the yellow metal is headed much, much higher.
The dollar index remains strong near the 107 level. I think it's a heck of an opportunity to add some physical gold if you aren't already topped off on your physical gold holdings. Ditto for silver, which is currently down some 3.5%. Let's see if silver is able to hold that US$30 per ounce level.
Turning to company-specific news, we have big news out of Aldebaran Resources (TSX-V: ALDE)(OTC: ADBRF), which just reported a very significant resource increase at its Altar copper-gold project in San Juan, Argentina.
The company just announced an updated mineral resource estimate (MRE). And look, the bottom line is that this is a company that’s headed much, much higher. We’re talking Measured & Indicated resources of 22 billion pounds of copper, 5 million ounces of gold, and 94 million ounces of silver. Plus, Inferred resources of an additional nearly 10 billion pounds of copper, nearly 2 million ounces of gold, and 49 million ounces of silver.
The stock is currently up some 10% on the news and justifiably so. It's going to be really interesting coming up here in 2025 to see Aldebaran likely get taken out, and it'll likely be at a significant premium especially if copper can gain a bid, which I suspect it will in 2025.
I just got back from the New Orleans Investment Conference. The mood there was cautiously optimistic. A lot of companies doing a lot of quality work, and I think 2025 is going to be a banner year in the junior space for companies that are executing and delivering with the drill-bit.
That’s all for this Monday’s coffee talking points. Have a wonderful Thanksgiving for those of us here in the States.
Let's get it,
Gerardo Del Real
Editor, Resource Stock Digest