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Elemental Royalties Posts US$1.2 Million In Revenue, US$1.1 Million Net Loss For Q2 2021

Elemental Royalties Corp. (TSXV: ELE) shared today its and financial results for Q2 2021. The report highlighted a quarterly revenue
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This article was originally published by The Deep Dive

Elemental Royalties Corp. (TSXV: ELE) shared today its and financial results for Q2 2021. The report highlighted a quarterly revenue of US$1.2 million, up from last quarter’s US$1.1 million but marginally down from last year’s US$1.3 million.

The mining royalty firm reported selling 683 attributable gold ounces for the quarter. The company also announced that the Karlawinda gold project, where it holds 2% net smelter return, will start contributing earnings in the next quarter.

Gross margin for the quarter was maintained at 63.2%, approximately the same from Q1 2021 but a decline from Q2 2020’s 72.6%.

This is relatively reflected in the company’s net loss of US$1.2 million, down from last quarter’s US$1.1 million net loss and last year’s US$0.8 million net loss. The quarterly net loss translates to $0.02 per share.

The company ended the quarter with a cash position of US$6.2 million from a starting balance of US$6.6 million. Total current assets came in at US$7.3 million while total current liabilities ended with a balance of US$0.4 million.

The gold royalty company maintains its production guidance of 4,000 to 4,400 attributable gold equivalent ounces for 2021 from its existing portfolio.

Elemental Royalties last traded at $1.27 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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Precious Metals

These Factors ‘Could Drive Gold and Silver Prices Much Higher’

Source: Crescat Capital for Streetwise Reports   09/22/2021

In a Sept. 10, 2021 Crescat Capital broadcast from the Precious Metals Summit in…

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Source: Crescat Capital for Streetwise Reports   09/22/2021

In a Sept. 10, 2021 Crescat Capital broadcast from the Precious Metals Summit in Beaver Creek, the firm's Portfolio Manager, Tavi Costa, and its Chief Investment Officer, Kevin Smith, talked about the current macroeconomic environment and highlighted the opportunity in gold and silver mining equities.

Portfolio Manager, Tavi Costa, noted that his funds firm, Crescat Capital, believes we are in a secular bull market for gold and silver and because we are now amid a pullback, the time is right to be taking advantage of stocks in the space over time. He showed a slide of silver's weekly candles and noted that the precious metal looks technically sound for taking advantage of.

"Cryptocurrency is getting a lot of attention these days, but Crescat Capital likes precious metals."

Looking forward, Costa added, "I think there are a lot of fundamentals behind what could drive gold and silver prices much higher and perhaps really benefit the explorers and a lot of the companies we have in our portfolio," he added.

Costa purported that we could be on the cusp of a new phase of mergers and acquisitions given the high level of liquidity among the mining majors. They have generated free cash flow at a pace never seen before and have lots of net cash available.

"I truly believe that tangible assets continue to be something very important for investors to own in their portfolios," Costa said.The portfolio manager said platinum is also at a good entry point and showed a slide of the metal's quarterly candles.

"Gold, we believe, has intrinsic value."

Also in the broadcast, he presented three slides depicting how various economic metrics are trending. The first metric was the Taylor Rule to the Fed funds rate Spread, and it showed that the spread today is the largest it has been since about 1975. Costa said the spread indicates interest rates should be at around 6 percent, but obviously they are not.

"It's a good reminder of how trapped the Federal Reserve is," he added.

Second, the cost of ride sharing with Uber and Lyft increased 92 percent between January 2018 and July 2021, Costa said. However, the intercity transportation component of the Consumer Price Index (CPI) that takes into account taxi, Uber and Lyft fares is up only 5 percent during the same period.

"This is example of how the CPI is massively understated in regards to the real inflation in the system," added Costa.

Third, the Duke survey of chief financial officers showed that internal company optimism about wages and sales is at a record high.

"The cost of living rising started to create a demand for higher wages and salaries, and we're seeing this in a lot of fronts," Costa said.

Next, Kevin Smith briefly summarized today's economic macroenvironment and with that as the backdrop today, what parts of the market Crescat Capital favors.

Smith reiterated that inflation is rising, growth is slowing and the stock market is in a bubble. Real interest rates are negative, and money printing continues. Deficits are the highest they have ever been.

Thus, cryptocurrency is getting a lot of attention these days, Smith said, but Crescat Capital likes precious metals.

"Cryptocurrencies, they're faith-based currencies," he said. "Gold, we believe, has intrinsic value, and the junior mining industry has been through essentially a 10-year bear market."

Read more about the companies Quinton Hennigh, Crescat's Geologic and Technical Director, discusses in part two of the Sept. 10 briefing.

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Streetwise Reports Disclosures:

1) This is contributed content from Crescat Capital compiled by Doresa Banning for Streetwise Reports LLC. Doresa Banning provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. Her company has a financial relationship with the following companies referred to in this article: None.

2) The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in any securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. 

Important Crescat Disclosures Provided by Crescat Capital 

Please read Crescat’s important disclosures.

Nothing herein should be construed as personalized investment advice or a recommendation that you buy, sell, or hold any security or other investment or that you pursue any investment style or strategy.

Case studies are included for informational purposes only and are provided as a general overview of Crescat’s general investment process, and not as indicative of any investment experience. There is no guarantee that the case studies discussed here are completely representative of Crescat’s strategies or of the entirety of its investments.

Crescat has compiled its research in good faith and while it uses reasonable efforts to include accurate and up-to-date information, it is provided on an “as is” basis with no warranties of any kind. Crescat does not warrant that the information on this site is accurate, reliable, up to date or correct. In no event will Crescat be responsible or liable for the correctness of any such research or for any damage or lost opportunities resulting from use of its data.

You should assume that as of the publication date, Crescat has a position in the securities discussed and therefore stands to realize significant gains in the event the price of security moves. Following the publication date, Crescat intends to continue transacting in the securities, and may be long, short, or neutral at any time.


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Precious Metals

Palladium One Shares Jump 10.26% After Reporting Drill Results 112 metres of 2.08% PdEq at LK, Finland

Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] reported results of Kaukua South hole LK21-081, which…

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Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] reported results of Kaukua South hole LK21-081, which intersected 4.07 g/t palladium equivalent (PdEq) over 24 metres, within 2.08 g/t PdEq over 112 metres, starting at 171.5 metres depth.

This represents the highest-grade intercept over width that drilling has returned to date, at the Kaukua South zone of the 100%-owned LK project in Finland. In addition, down-plunge drilling is successfully expanding higher-grade core zones to depth as demonstrated by hole LK21-080, which intersected 1.86 g/t PdEq over 40.5 metres, including 2.95 g/t PdEq over 3.0 metres from 229.5 metres depth. Multiple holes now demonstrate increasing grade and widths at depth.

Derrick Weyrauch, president and CEO, commented: “Our Kaukua South discovery continues to deliver excellent results and demonstrates potential for higher-grade core zones within the Kaukua area. We believe there are several other higher-grade core zones yet to be defined based on the significant number of drill targets still to be tested.”

Hole LK21-081 returned 234 gram-metres, surpassing hole LK20-016, which returned 201 gram-metres reported October 22, 2021. These holes are part of two parallel higher-grade, southwest-plunging core zones or shoots at Kaukua South. A similar core zone occurs at the existing Kaukua deposit, where it occupies a linear depression in the footwall contact.

These core zones may represent magma channels, within the marginal phase of the Koillismaa mafic-ultramafic complex, that have thermally eroded the footwall rocks. Induced polarization (IP) surveys have proven very effective at targeting these higher-grade core zones, and two potential new zones have been identified to the west and east of the drill-defined mineralization at Kaukua South, see news release dated July 7, 2021. Refer to company press release for complete drill results.

The company is now calculating palladium equivalent using $1,600 (U.S.) per ounce for palladium, $1,100 (U.S.) per ounce for platinum, $1,650 (U.S.) per ounce for gold, $3.50 (U.S.) per pound for copper and $7.50 (U.S.) per pound for nickel consistent with the calculation used in the company’s September, 2021, National Instrument 43-101 Haukiaho resource estimate.

Spot gold equivalent

Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes using US$2,300/oz palladium, US$1,000/oz platinum, US$1,800/oz gold, US$4.50/lb copper and US$9/lb nickel.

Palladium One Mining’s flagship project is the Lantinen Koillismaa project, a palladium-dominant platinum-group-element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 km of favourable basal contact and building on an established NI 43-101 open-pit mineral resource.


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Precious Metals

How Will the Debt Ceiling Farce of 2021 End?

…OK, folks, let’s get some popcorn and watch “The Debt Ceiling Farce 2021” as it unfolds! Everyone knows how this farce will end. Since 1960, the…

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…OK, folks, let’s get some popcorn and watch “The Debt Ceiling Farce 2021” as it unfolds! Everyone knows how this farce will end. Since 1960, the farce played 78 times. Each time, after everyone got through extorting concessions from the other side, Congress either raised the debt ceiling, extended it, suspended it, or changed the definition of “debt.” That’s how it ends.

…During the debt-ceiling farce, the Treasury Department is allowed to use certain “extraordinary means” – more on those in a moment – to keep the government from defaulting. After the debt ceiling is lifted, new debt gets issued and those entities are made whole. In the end, everything gets caught up and nothing changes.

The suspense doesn’t lie in how it ends, because we know that, but how long they drag it out, and how close “we” get to the out-of-money day and, this time around, the out-of-money-day is in October or November, according to estimates by the Congressional Budget Office.

…It’s a farce because Congress told the Administration to spend this money but then doesn’t allow the Administration to raise the money via debt sales to spend this money as Congress had told it to. It’s just nuts, and foreigners scratch their heads every time, and so do we, but that’s how the system works.

The one thing the debt ceiling never ever does is reduce deficit spending. It just temporarily limits borrowing until default moves into view, and then the floodgates are opened again.

Were Congress to fail to extend the debt ceiling, the U.S. government would  not be able to pay its bills and would default causing financial markets around the world to crash, in turn causing every member of Congress to lose half or more of their assets in no time – and that’s exactly why this will never happen.

As of August 1, 2021, the gross national debt outstanding on July 31 became the debt ceiling, $28.43 trillion, and that’s where the debt now sits. The U.S. government cannot add to it, but it can roll over its maturing debts.

On August 2, Yellen spelled out in her letter to Congress the first “extraordinary measures,” as they’re called, she will take to keep the U.S. from defaulting, as authorized by law – initially raiding the contributions made by members of three big federal retirement systems: The Civil Service Retirement and Disability Fund, The Postal Service Retiree Health Benefits Fund and the Government Securities Investment Fund (G Fund) of the Thrift Savings Fund that are part of the Federal Employees’ Retirement System, and when that has reached the limits, Yellen will inform Congress of other “extraordinary measures” she will take.

The government has $390 billion in its TGA, and it can take some “extraordinary measures” but it is burning a huge amount of money every day, and at some point, it needs to issue new debt, or it’s going to default….If the TGA account gets drawn down…close to zero before Congress votes to lift the debt ceiling, a 10,000-point drop by the Dow will motivate Congress to do anything, even lift the debt ceiling, after which every entity that the government has wrung out will be made whole.

Editor’s Note:  The above version of the original article by Wolf Richter, has been edited ([ ]) and abridged (…) for the sake of clarity and brevity to ensure a fast and easy read.  The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.  Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

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