Categories: General Market Commentary
Topics: General Market Commentary

Uranium dips and a cup'a Joe

Hey everybody,

This is Gerardo Del Real… your Resource Stock Digest editor. I wanted to reach out and give you a bit of insight into what I'm looking at this week.

I’m definitely keeping a close eye on the uranium price. It has now dipped below US$100 per pound, which, in my opinion, is a perfectly healthy correction.

The Twitter-verse, or X-verse, I suppose I should say, is most definitely waiting for the next shoe to drop in the uranium space. I think that shoe drops sooner rather than later, and I think it drops with a spirited surge above the US$110 level, the previous interim highpoint we saw just a few short weeks ago. 

The current pullback in the uranium equities, I think, presents a heck of an opportunity for those of you that may have missed out on the first two legs up in this new uranium bull market.

I’m also keeping an eye on the dollar index, which has dipped below 104. The dollar has great support all the way down to the 100 level, and I don't think it's a coincidence that gold is holding steady at US$2,030 an ounce — not far from all-time highs.

I just released my brand new 2024 gold investing report… click here to access now!

Bitcoin continues to outperform and is now flirting with the US$54,000 level. We could see even higher BTC price levels as we approach “halving” in the coming few months.  

There’s also quite a bit of company-specific catalysts that I'll be watching for this week.

I’ll be talking with Almadex Minerals (TSX-V: DEX)(OTC: AAMMF) CEO Mr. Morgan Poliquin later this week. He seems to be onto yet another potential copper-porphyry discovery — this time here in the US — in the highly-favorable jurisdiction of Nevada. 

T2 Metals (TSX-V: TWO)(OTC: AGLAF) just expanded its land position following the release of high-grade results at the Sherridon Volcanic-Hosted Massive Sulphide (VHMS) copper-zinc project in Manitoba, Canada. The acquisition strengthens T2’s position in the Sherridon VHMS camp and brings with it a brand new set of untested targets for the company’s upcoming field season. 

I’m also looking forward to catching up with Patriot Battery Metals (TSX: PMET)(OTC: PMETF) CEO Mr. Mark Saxon following the company’s recent release of additional results from the CV13 Pegmatite as well as an infrastructure development update at the Corvette lithium project.

CV13 is shaping up to be a very solid 20-million-to-30-million-tonne near-surface lithium deposit that appears well on-track for adding some optionality on future mine plans. The main event for me from Patriot will most definitely be a combination of results from CV9, which I'm eagerly anticipating, and, of course, the potential for a major to come in. 

It’s looking like another interesting and exciting week with our eye on uranium, lithium, gold, Bitcoin, and the US dollar, and, as well, all of the company-specific news here at Resource Stock Digest.

Let's get it!

Gerardo Del Real
Editor, Resource Stock Digest