Sitka Gold is likely to be sold within the next few years for well over $1bn as major producers circle its growing gold discovery. It has found over 5 million ounces since 2022, and its current 50,000-meter drill program might add a few million more this year. Several major producers sent geologists and business development and evaluation specialists on a recent site visit and showed great interest. The market cap has already risen from under $15mln to over $300mln. x.com  x.com 

Freegold's weekly chart is building a classic inverse head-and-shoulders base that points toward a breakout to the neckline on surging volume. The left shoulder declined on heavy volume, and the head and right shoulder formed on lighter volume. Fundamentally, Freegold has a lot of gold in Alaska next to an existing mine that is near depletion. x.com 

Domestic precious-metal miners are favored, because as gold moves into its next leg up, things will get rough in some places and some governments will get greedy. @CandidMacro adds energy supply issues at mines in Mali and probably Australia. Favorites are Coeur Mining, Hecla Mining, Endeavour Silver, Blackrock Silver and FGOVF. x.com  x.com  x.com 

Gold miners have not yet priced in what record gold prices mean for the sector, and the window to get in is shrinking. Newmont beat Q1 profit estimates even though output fell, showing the gold price tailwind is covering operational shortfalls; earnings should rise further when production normalizes. The majors have pricing power they have not had in years and operating leverage is building, while most investors remain in tech. x.com  x.com 

The gap between gold miners and the metal is the trade most are missing. Producers carry operating leverage, central banks haven't stopped buying, and the paper price doesn't set the physical demand curve. @OJRenick spots GDX calls outpacing puts 5:1 as gold tries to break its multi-month downtrend. The gap closes both ways. x.com 

Gold miners look like most of the damage is done: gold is down over $1,500 from its top and miners about 40%, with sentiment and positioning near capitulation. Gold's Daily Sentiment Index fell to 14% bullish, speculative open interest is below the late-2015 bottom, the miners' bullish percent index hit 0% and gold's RSI is the lowest since October 2023. Gold could still fall on Hormuz, dollar strength and seasonality, but Chinese buying, de-dollarization and miners' cash flows remain. x.com 

Gold mining stocks are worth owning heavily because the sector is generating extraordinary profits at current metal prices. Per Tavi Costa, gold miners are doing more share buybacks than at any point in history, on a scale never seen before, as a direct result of that profitability. You can't own enough gold stocks in view of what is coming. x.com 

Gold miners Agnico Eagle, B2Gold and Newmont are worth buying aggressively because, per Willem Middelkoop (@wmiddelkoop), gold mining shares are dirt cheap again compared with gold. x.com 

Gold royalty and streaming companies remain worth adding even with gold far above $3,200-3,700, because their valuations are low versus history and they can still generate alpha even if gold is unexciting over 3-5 years. Silver and rising industrial demand add support. Unlike miners, which are boom-bust, they earn from mines without operating them. Buying Wheaton Precious Metals, Royal Gold, Osisko and Franco-Nevada is on hold after gold's recent jump. x.com 

Newmont is basically levered gold with little potential for discovery upside, and it is likely to pay high prices buying other companies. x.com