High Value Tips
Frank Holmes, July 23, 2021
Cuba and Venezuela Offer Cautionary Tales of Socialism
Frank Holmes, July 22, 2021
Gold Is Catching a Bid on Pandemic and Inflation Fears. Are You Participating?
Crypto Fear and Greed Index
Cryptocurrency / Blockchain: HIVE.V Correlation With ETH
A png version of the HIVE/ETH/BTC graphic is also available for download/reuse here
Gold / Metal Streamers and Cryptocurrencies / Blockchain Updates
GoldMinerPulse is tracking cryptocurrency/blockchain companies and streaming / royalty companies accessing or likely to access Canadian capital markets.
GOAU: A New Way to Invest in Gold and Precious Metals
Watch this exciting interview at Kitco news for a first-hand introduction to GOAU, a gold and precious metals ETF launching soon. Learn more about this game-changing product here and view the SEC filing details here.
Unlike other gold ETFs, GOAU implements a "quant" strategy to guide its stock selection. Drawing from an array of factors that have proven successful, the new ETF seeks, for instance, to discriminate between companies with good and bad management and to identify companies with superior metrics. This active, discriminating approach not only is attractive for its own sake, but is buttressed by back testing results going back 10 years.
I fully expect the GOAU to become a major ETF player as the next gold bull run evolves.
Anyone looking for exposure to the gold sector need look no further than GOAU on the NYSE.
Data Exploration Tools
nged and ngp are available on a custom crafted subscription basis. Updates on the free versions are no longer being provided.
See my contact information at the bottom of the page to make inquiries.
TSX/TSXv Gold Reserves and Resources
Gold reserves and resources for TSX/TSXv listed companies with at least 12.5% of their in situ metal values from gold:
Metric |
Gold Reserves
|
Gold Resources
|
|---|---|---|
Gold Producers |
13655 | 37414 |
Gold Developers |
3435 | 11972 |
Gold Explorers |
2198 | 9094 |
Gold Explorers |
138 | 4405 |
All Gold Equities |
19427 | 62885 |
Based on gold production rates reports over the last 4Q, TSX/TSXv gold producers have 21.5 years of gold reserves.
TSX/TSXv Gold and Silver Equities Statistics
The following table includes TSX/TSXv listed companies with at least 12.5 of their in situ metal values from gold or silver (in US$).
Type of Equity |
Producers
|
Developers
|
Explorers
|
Explorers
|
|---|---|---|---|---|
Enterprise Value |
$72 | $12 | $5 | $22 |
Estimated Discovery Cost |
$13 | $3 | $25 | |
Net Working Capital |
$18,581M | $1,351M | $477M | $819M |
Gold and Silver Miner Market Capitalization Estimates
| TSX/TSXv Grouping | TSX/TSXv Total Market Capitalization (Millions of US$) |
|---|---|
| Gold & Silver Producers | $117,741 |
| Gold & Silver Streamers | $13,420 |
| Gold & Silver Developers | $10,703 |
| Gold & Silver Explorers | $7,812 |
| Total TSX/TSXv Gold & Silver Miners | $149,676 |
| Market Cap Estimate For the World's Gold & Silver miners (Millions of US$) |
$542,645 |
Note: All TSX/TSXv companies with at least 12.5% of their total in situ metal value coming from either gold or silver and which match the category definitions, are included in the above table.
Gold & Silver Producers category includes those companies that report quarterly production counts and revenues for gold and/or silver production.
Gold & Silver Streamers category includes companies focused on creating gold/silver streams or royalty income flows.
Gold & Silver Developers category includes companies with an explicit plan to start production in the near term or which have a spending profile and work plans to imply potential future production.
Gold & Silver Explorers category includes companies that are primarily focused on expanding resource counts at one or more existing gold and silver projects without indicating plans for future production.
Generator and grass roots companies are not covered.
Market capitalization is always computed using closing market price (expressed in US$ using exchange rates in effact at market closing time) and the issued share of each company. Updates are made daily after the TSX market close.
TSX/TSXv Market Share Assumptions: the TSX/TSXv gold producers are estimated
to represent approximately 25% of the world's gold producers since the TSX/TSXv gold producers
report approximately 25% of the world's yearly gold production.
The streamers, explorers and developers are estimated to represent very roughly 50% of the world total for companies in those groupings.
NOTE October 24, 2016: Lowered the TSX/TSXv producer gold production estimate to 25% down from 33% - thus the spike in Market Cap Estimate
for the World's Gold & Silver miners.
The Market Cap Estimate For the World's Gold & Silver miners is computed based on the actual TSX/TSXv market capitalizations, computed on a daily basis here using closing market prices and Sedar.com material filings as available at the TSX market closing time, and applying the market share assumptions detailed above.
Gold and Silver Miner Daily Update Counts
The following plot shows showing a per day count of gold/silver producers/developers/explorers with one or more "metric impacting" Sedar updates (e.g. resource disclosures, financial statements, shares for debt, private placements, options grants, project ownership changes, mergers/acquisitions, etc.).
Note: Snapshots are always taken at 4PM of the current day. Any filings after 4PM will only be counted at the next close.
Gold ETF Money Flows
| Daily Price of Gold changes Money Flows in/out of GLD plus the SGE Premium and Settlement volume |
||||||
|---|---|---|---|---|---|---|
| mon-dd | POG % Chg |
GLD bullion flows$ |
SGE Au(t+d) direction |
SGE Prem. |
SGE Sett. Volume |
|
| July 30 | -0.76% | Long to Short | $16 | 6.77t | ||
| July 29 | 1.05% | $336.2M | Long to Short | -$4 | 6.99t | |
| July 28 | 0.42% | Short to Long | $2 | 5.97t | ||
| July 27 | 0.23% | Long to Short | -$7 | 8.35t | ||
| July 26 | -0.24% | -$100.7M | Long to Short | $13 | 7.08t | |
| July 23 | -0.34% | -$67.7M | Short to Long | $5 | 7.14t | |
| July 22 | 0.23% | Short to Long | -$5 | 6.86t | ||
| July 21 | -0.36% | Short to Long | $10 | 7.79t | ||
| July 20 | -0.09% | Long to Short | $2 | 5.89t | ||
| July 19 | 0.07% | Short to Long | $7 | 6.44t | ||
| July 16 | -0.98% | -$341.3M | Long to Short | $11 | 9.63t | |
| July 15 | 0.06% | Short to Long | -$10 | 8.64t | ||
| July 14 | 1.04% | -$169.7M | Short to Long | -$11 | 10.55t | |
| July 13 | 0.12% | Short to Long | $4 | 7.86t | ||
| July 12 | -0.11% | -$169.0M | Long to Short | -$5 | 6.66t | |
| July 9 | 0.29% | Short to Long | -$2 | 5.84t | ||
| July 8 | -0.04% | -$16.8M | Long to Short | -$0 | 4.15t | |
| July 7 | 0.38% | -$101.8M | Long to Short | $1 | 6.41t | |
| July 6 | 0.28% | -$20.2M | Long to Short | $6 | 8.43t | |
| July 5 | 0.20% | Long to Short | $0 | 10.93t | ||
| July 2 | 0.68% | -$33.2M | Long to Short | -$4 | 11.94t | |
| July 01 | 0.33% | Short to Long | $3 | 9.31t | ||
| June 30 | 0.52% | Long to Short | -$10 | 6.34t | ||
| June 29 | -1.04% | Long to Short | $17 | 8.99t | ||
| June 28 | -0.03% | $167.2M | Short to Long | $8 | 9.19t | |
A ? indicates that the closing data for the ETF is to be released - ETF updates happen typically after 8PM EST. Otherwise the cell is left blank if there was no change from the previous day.
A X indicates the GDX ETF did NOT release the end of day holdings.
POG % Chg is computed based on the Kitco gold spot price bid at TSX market closing time and the price at the previous TSX market close.
For GLD, a positive cell value indicated the value of the gold (in millions of dollars) added to the ETF while a negative cell value indicated the value of gold removed from the ETF. Values are computed from data provided by the GLD ETF operator.
The SGE Prem. (Shanghai Gold Exchange Premium) is computed as the difference between the SGE gold closing price (coverted at exchange rates in effect at the TSX close) and gold spot price as reported by Kitco at the TSX close. SGE Sett. (Shanghai Gold Exchange Settlement Volume) is sum of the Au(T+D) and mAu(T+D) daily settlement volumes as reported by the SGE.
Shanghai Gold Exchange Gold Closing Price Versus Kitco Closing Price
The Shanghai Gold Exchange Yuan Renminbi price of gold and premium/discount in US dollars relative to the Kitco spot price at TSX close follows (yearly average and 1 year rolling time period comparisons):
Note: See China Public Holiday Calendar for the dates of up coming Chinese holidays.
Recent Comparisons of Shanghai Gold Exchange (SGE) Premiums (Δ) vs Kitco Spot Gold Price:| Date | Shanghai Gold Exchange Close - Au(T+D) | Kitco Spot Price at TSX Close | SGE Δ | |
|---|---|---|---|---|
| Yuan Renminbi/gram | US$/oz | |||
| July 30 | 380.25 | $1830 | $1814 | -$16 |
| July 29 | 378.74 | $1825 | $1828 | -$4 |
| July 28 | 377.86 | $1811 | $1809 | $2 |
| July 27 | 375.66 | $1794 | $1802 | -$7 |
| July 26 | 377.37 | $1811 | $1797 | $13 |
| July 23 | 376.40 | $1806 | $1802 | $5 |
| July 22 | 374.96 | $1802 | $1808 | -$5 |
| July 21 | 377.00 | $1813 | $1804 | $10 |
| July 20 | 377.89 | $1812 | $1810 | $2 |
| July 19 | 376.49 | $1804 | $1811 | $7 |
| July 16 | 379.51 | $1822 | $1810 | $11 |
| July 15 | 377.70 | $1818 | $1828 | -$10 |
| July 14 | 377.80 | $1817 | $1827 | -$11 |
| July 13 | 376.90 | $1812 | $1808 | $4 |
| July 12 | 374.99 | $1801 | $1806 | -$5 |
| July 9 | 376.33 | $1807 | $1808 | -$2 |
| July 7 | 375.48 | $1804 | $1803 | $1 |
| July 6 | 375.45 | $1803 | $1797 | $6 |
| July 5 | 372.4 | $1792 | $1792 | $0 |
| July 2 | 371.19 | $1784 | $1788 | -$4 |
| July 1 | 370.00 | $1783 | $1779 | $3 |
| June 30 | 365.50 | $1761 | $1770 | -$10 |
| June 29 | 369.45 | $1778 | $1761 | $17 |
| June 28 | 371.05 | $1787 | $1779 | $8 |
Currency conversions made using spot rates available on the date. The SGE Δ is computed as the SGE closing price in US$ minus Kitco Spot Price (bid) at TSX Close.
A ? indicates that the closing data update is pending.
See the SGE page for daily updates on the Shanghai Gold Exchange, including a comparison of SGE gold delivery from vault in 2014 versus 2013.
Contact Information
twitter: @GoldMinerPulse
e-mail: dennis@goldminerpulse.com
phone: 778-230-3439, Pacific Standard Time (GMT-8)