Mining Stock Quotes and Mineral & Metal Prices
June 2021 by Staff
Last month saw the mining industry take center stage as Toronto, Ontario was once again host city for the giant PDAC annual mining convention. We take at look at that gathering below, focusing on some of the negative industry sentiment on display.
I find it difficult to recall a period when the world has encountered so many simultaneous threats which “should” have driven gold and silver higher, and yet the precious metals markets—so far—have failed to rally to any significant extent.
While many prospecting or mining operations don’t have sufficient profits to benefit from accelerated write-offs or even the full 100% “bonus” depreciation write-off, other options can be equally rewarding.
The most important question, of course, is when these deteriorating fundamentals (positive for the precious metals) will overcome the lengthy deterioration in the long-term trading charts for gold and silver and their associated mining shares.
Just as we were sitting down to write this column, a political bombshell was released when Rick Santorum announced he was terminating his efforts to win the Republican Presidential nomination, virtually assuring the nomination will be to Mitt Romney. The remaining candidates, Ron Paul and Newt Gingrich appear to have no realistic chances.
When governments are hit by a barrage of such economic news, they usually react by attempting to stimulate economic activity by spending money, as some might say, “like drunken sailors”…
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