High Grade 🚜⚒🌎🥇🇺🇸🇨🇦

Dad of 3 | Writing & Investing #Metals & #Mining | Sector Focused | #Gold | #Commodities | News | **Not Investment Advice** $GC_F $GLD $GDX $GDXJ | 📧 Q’s

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

What I really want to know is: Why should I continue to hold your stock? And why does it feel like you're actively alienating the retail investors who stood by you when it mattered most?

As a long-term shareholder who's ridden out multiple brutal cycles and still maintains a significant position, I'll acknowledge that the recent Pan pivot transaction was essential. It stabilized the company and prevented a far worse outcome. Credit where it's due.

But the way things have unfolded since then has left many of us deeply frustrated and sidelined. Retail investors, you know, the ones who refused to sell during the darkest periods and helped prevent a total share-price collapse? That loyalty is precisely what kept the stock at a level that made this deal viable in the first place.

Yet since the transaction closed, the dominant tone from leadership has been self-congratulatory. Compensation package, RSUs, stock options, and preferential share placement allocations, appear disproportionately directed toward executives, senior management, and insiders. Many of these same leaders have retained their positions without meaningful accountability, and the board has continued to approve these grants with little apparent restraint.

Meanwhile, the broader shareholder base (especially retail) that enabled this turnaround opportunity has received virtually no tangible upside and scarcely any acknowledgment.

This disconnect is amplified by what seems like a profound lack of self-awareness about optics. Celebrating personal windfalls while long-term holders remain underwater, or at best flat, during one of the strongest bull markets in decades is eroding the remaining goodwill that carried the company through its toughest years.

I'm concerned that genuine alignment with shareholders won't emerge until the last of the early believers and loyal retail holders have finally been driven away. I truly hope I'm wrong.

With a cleaner balance sheet and a clear runway ahead, the company is now positioned to capitalize on favorable market conditions but only if it can execute and regain investor trust. That has been elusive to date yet you wouldn’t know it based on the aforementioned compensation situation optics and no performance management accountability. What it desperately needs next is leadership that demonstrates it truly values the patience and sacrifice of ALL investors including those who never abandoned ship.

I'm still here because I believe in the underlying assets and long-term potential. Maybe I am stupid for it. But that conviction is being tested daily by the perception that management's priorities lie elsewhere.

A meaningful shift that includes improved communication, disciplined capital allocation, or incentive structures that actually tie executive rewards to sustained shareholder returns, would go a long way toward restoring confidence. And of course execution and doing what you’re going to say you’re going to do.

Just because you’re able to grant yourselves generous option grants doesn't mean they should be rubber-stamped without question. Optics matter. Consider setting real performance hurdles before checking the box simply because you can.

I know I'm not alone. These feelings are widely shared among long-term retail and institutional holders who have remained supportive through thick and thin.

We're not asking for miracles or promises that can't be kept. We just want clear evidence that our continued commitment is recognized and valued.

So shame on me for still being here. Now what if anything will you do to keep me on board? That’s the question you should address to your retail audience who is still with you tomorrow.

Regards,
#baggolder

[Nick Timiraos @NickTimiraos]

The Treasury Department says Judy Shelton will become a counselor to Bessent to advise on currency policy, “with a particular focus on evaluating financial conditions in China.”

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

Will be interesting to see where Q3 and Q4 AISC will land. #Mining #Gold

[Krishan Gopaul @KrishanGopaul]

#Gold all-in sustaining costs reached a record US$1,930/oz in Q2 2026, up 22% year-on-year. However, with gold averaging more than US$4,500/oz during the quarter, producer margins remained exceptionally strong. See the charts here: https://t.co/9qKZ2DkHMN

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

Discovery Mining $DSV.TO just received its permit from Mexico on Cordero.

Finally the FUSD can end about Mexico.

“Discovery Announces Receipt of Key Environmental and Land Use Permits for Cordero Project”

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

Lot of doubt in the price. Aggressive development plan. Ambitious. Can they do it all with internal funds or do they have to go external? Can they execute it all without delays, cost overruns, or issues? Rates blowing out, fed hiking, macro risk free picture has changed a lot in a short time. Time will tell.

[Bloomberg @business]

Gold Fields is considering a sweetened takeover bid for Northern Star Resources, sources say, as the South African miner seeks to overcome resistance to a deal that would create the world’s second-largest gold producer https://t.co/6YFvEQBAzh

[First Squawk @FirstSquawk]

Oil extends rally amid ongoing concerns over Middle East supply - CNBC

[zerohedge @zerohedge]

Trump on truth:

Axios just released a story that “Trump” offered Sanctions Relief and Frozen Funds to Iran. This is untrue. I offered them NOTHING! Axios’ story, like most others, is a HOAX, used only for purposes of satisfying their Trump Derangement Syndrome. They should withdraw this fake story, IMMEDIATELY!

… because the market is closed

[Barak Ravid @BarakRavid]

🚨🇺🇸🇮🇷U.S. official tells me: "President Trump is willing to give Iran sanctions relief and release of frozen funds for concrete progress on nuclear"

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

Northern Star Resources responds to Gold Fields rumor speculation.

https://t.co/iTL89Knf57

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

@formerlyaic I think anyone commenting on this should look at themselves in the mirror and worry about their own personal / health situations. It’s a disgusting take.

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

@that_grey_beard You do realize that they have Multimodal AI (MAI) with the Darren’s? That might just be enough.

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

@real_MikeBarnes They had CdO for 2028 for a bit now. It was the analysts that were modeling 2030.

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

Luca Mining acquiring the Cozamin Mine in Zacatecas, Mexico for total upfront consideration of $290M + deferred and contingent consideration.

$LUCA.NE 🇲🇽

https://t.co/KFgcdAesQJ

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

Artemis Gold buying Vista Gold in a stock deal valued at $427M, implying consideration of $2.83 per Vista common share. Represents a 29% premium on 20-day VWAP. Vista Gold shareholders will own 5% of the combined company.

$ARTG.NE $VGZ.TO

Mt. Todd project in Northern Territory 🇦🇺

https://t.co/UL7W6ARudS

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

@fleckcap @Vnyops26 Giving me chills from the old days.

[bill fleckenstein @fleckcap]

i can tell almost no one has seen this video, it goes with yesterday's press release. for all the wdo holders out there, this looks like a new system,and as such is a big deal,imo. (especially given the stupidly low valuation it currently has.)

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

@TedSumAtHome Very nice!

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

MVIS $GDXJ rebalance announced.

44 added.

1. Rio2 Ltd (RIO CT)
2.Hemlo Mining Corp (HMMC CT)
3.i-80 Gold Corp (IAUX UA)
4.Avino Silver & Gold Mines (ASM UA)
5.Omai Gold Mines Corp (OMG CV)
6.Minerals 260 Ltd (MI6 AT)
7.NorthIsle Copper & Gold (NCX CV)
8.Lunr Royalties Corp (LUNR CT)
9.First Mining Gold Corp (FF CT)
10.Benz Mining Corp (BNZ AT)
11.Elemental Royalties Corp (ELE UR)
12.Highlander Silver Corp (HSLV CT)
13.Troilus Mining Corp (TLG CT)
14.Mineros SA (MSA CT)
https://t.co/tJIhkz2SpZ X2 Mining Inc (AUXX CV)
16.Asante Gold Corp (ASE CV)
17.Collective Mining Ltd (CNL CT)
18.Liberty Gold Corp (LGD CT)
19.Forrestania Resources (FRS AT)
20.Turaco Gold Ltd (TCG AT)
21.Banyan Gold Corp (BYN CV)
https://t.co/fqeCBW0F9g Royalty Corp (GROY UA)
23.Thesis Gold & Silver (TAU CV)
24.Talamore Mining Corp (TALA CT)
25.Versamet Royalties Corp (VMET CT)
26.Mako Mining Corp (MKO CV)
27.GoldSky Resources Corp (GSKR CV)
28.Aurelia Metals Ltd (AMI AT)
29.Apex Mining Co (APX PM)
https://t.co/ApKfcJu1Mr Pacific Metals Corp (NEWP UA)
31.Mining Americas Inc (MAI CT)
32.TRX Gold Corp (TRX UA)
33.Meridian Mining (MNO CT)
34.Unico Silver Ltd (USL AT)
35.Heliostar Metals Ltd (HSTR CV)
36.Vox Royalty Corp (VOXR UR)
37.Sinda Ltd (SIND UN)
38.Blackrock Silver Corp (BRC CV)
https://t.co/oabDTuzrsr Gold Corp (VGZ UA)
40.NexGold Mining Corp (NEXG CV)
https://t.co/AfZaxedICz Mining Inc (JAG CT)
42.Guanajuato Silver Company (GSVR CV)
43.Silver Storm Mining Ltd (SVRS CV)
https://t.co/L74j5xwh6U Tower Hill Mines (THM UA)

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

Scotiabank is estimating 41 new additions and 2 deletions to the upcoming $GDXJ rebalance. This would be the highest number of additions since 2010. The rebalance will be announced after market close on September 11 and will be effective after market close on September 18.

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

@WitteWitte30 🤣

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

@DGoalsMusic 🤣

[High Grade 🚜⚒🌎🥇🇺🇸🇨🇦 @EconomicAlpha]

@moneybags2000 @mannymendoza408 About 2m