Yesterday's 19% discount to NAV broke the record set on 10/10/2008, the day the TARP was introduced during the Global Financial Crisis.
Before Friday's collapse, SLV had about $60 billion in assets.
The chart above shows that the silver market is now broken, meaning there is a high risk that a financial firm heavily involved in this market is either bankrupt (causing the large discount above) or in serious trouble (due to the large discount above).
It doesn't mean we will automatically see a firm fail, but the silver market needs to correct itself quickly; otherwise, it probably will.
Quickly correct itself = Monday or Tuesday.
🧵 The price of gold has just hit a new all-time high. However, gold miners are trading well below their 2011 record high - see chart below.
What has caused this massive underperformance?
Let's look at some of the key reasons. ⚒️🪙
#gold#mining $GDX
Going by where copper is headed during this energy transition, coupled with the current weak sentiment in this space
I had to take advantage of this by buying a company that has 3 irons in the fire
A $1.8Billion NPV asset
A new discovery
Hunting for the source of all this
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As we gear up for our webinar, Climbing Higher Through Discovery, we highlight panelist Brandon MacDonald @YukonBrandon, CEO & Director of Fireweed Metals. $FWZ's Macmillan Pass & MacTung projects host some of the world's most significant #zinc & #tungsten deposits.