• MARA Holdings – formerly Marathon Digital (MARA) $15.15 – This flies on a Trump win
• Gold/Silver ratio says buy silver.

MARA Holdings – formerly Marathon Digital (MARA $15.15
Interesting headlines of note on Mara

I like the company as a business venture plus as a way of gaining exposure to their bitcoin as a reserve asset decision. MARA owns about 27,000 bitcoin. A related account to LOTM owns MARA with call options sold against the position. The premiums are high when the stock rallies as short sellers buy call options to hedge their short position. MARA is not a big position for us but with the high premium on the short duration expiration dates, it is a great way to generate cash.  Continue reading →

• Vizsla Royalty (VROYF*) & Vizsla Royalty Warrants (VRYWF) How I handled this situation
• SilverCrest (SILV*) – buy-out and forward option sale opportunity
• Coeur Mining (CDE*) accumulating a position
• Discovery Silver (DSVSF*) wow it popped 25% on the same day Coeur announced the SilverCrest buy out.
• LOTM Watch list of 42 silver miners. Many if not most are juniors exploration companies.

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October 04, 2024
Over the past three years, our LOTM approach has migrated to a barbell approach as our investment theme. Precious metals on one end of the barbell with Crypto and Blockchain technology companies on the other end of the block chain. 2022 was a difficult year as gold and silver came down from their 2021 highs and Crypto/Blockchain related positions collapsed in a very hard bear market. Both sectors based in early 2023 and by the end of 2023, both sectors moved strongly higher. This shows up strongly in our ZTA partnership account performance history. Three time-line charts below of ZTA Performance –

One-year performance below: Continue reading →

Corporations are starting to hold Silver & Bitcoin as Reserve Assets instead of Cash. We are hearing this more and more often: Fiat cash is for transactions, Gold, Silver and Bitcoin are for stores of value. If corporations and governments are doing this, should we?

Four corporations holding Silver or Bitcoin as corporate reserve asset:

• SilverCrest (SILV) $9.20 is Holding physical silver as a treasury asset. SILV has $91 million in US$ cash. An additional $30 million is held in Physical silver. The company trades at a 12 times trailing earnings and is debt free. SilverCrest plans to increase its silver position. In the video below Ritchie explains the math behind the Corporate decision to hold physical silver instead of US Dollars. They determined that holding reserves in US Dollar cash or any Fiat currency was losing them 8% annually in purchasing power.

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Originally Sent to LOTM paying subscribers September 16, 2024.

Marathon Digital – Now MARA Holdings (MARA*)
I am surprised to see that FINVIZ places Bitcoin Miners in the Capital Markets group as an asset sector. Included in this group are companies like Morgan Stanley (MS), Goldman Sachs (GS) and Charles Schwab (SCHW). Interesting, yes? One of the screens I like to look at is Future earnings predictions. To be specific, one-year out and five-years out. Checking what FINVIZ repots analysts see in their forward looking opinion of earnings is one source. I noticed that MARA is #1 out of 71 in Capital Market group for a five-year forward view in the column titled EPS Next 5Y.

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The numbers below tell me that Institutional Investors are invested in the biggest and best names in the Mining Industry. For the Big Miners to rally higher we will need Physical Gold and Silver price to move higher. The opportunity for larger than average gains in is in the smaller miners and explorers/developers. Most of the interesting small companies (Aya Gold and Silver as example) are not followed by many if any analysts. With the smaller companies the risk level / Volatility level is higher as is the opportunity.

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We’ll try and keep this short. It is tough because this is a complicated game in which we are involved. There are so many variables. Let’s list some of the variables that influence investing.

• Domestic politics
• Geo-political policy and events happening globally
• Macro-Economic policy events
• Money Supply and Liquidity
• Movement of money between asset classes – Define for yourself what are the asset groups for your individual situation? Volatility tolerance is a key sub-factor.
• New and Emerging Technologies
• Inflation / Deflation / interest rate movement – often dictated by peace, war and debt levels.

Continue reading →