{"id":21609,"date":"2020-05-10T11:52:44","date_gmt":"2020-05-10T15:52:44","guid":{"rendered":"https:\/\/capital10x.com\/old\/?p=21609"},"modified":"2020-11-26T09:47:09","modified_gmt":"2020-11-26T14:47:09","slug":"the-gold-metals-navigator-may-10th-2020","status":"publish","type":"post","link":"https:\/\/capital10x.com\/old\/the-gold-metals-navigator-may-10th-2020\/","title":{"rendered":"The Gold &#038; Metals Weekly Navigator (May 10th, 2020)"},"content":{"rendered":"<h2>Gold Mining Stocks Charge into Overdrive<\/h2>\n<p>Gold mining equities had a stellar week in the market, outperforming gold bullion and the S&amp;P 500.\u00a0 Institutional Portfolio Managers are increasing their allocation to gold mining stocks as a way to protect downside risk related to quantitative easing and fiscal budget expansion.<\/p>\n<h4>Gold &amp; Gold Equities Performance May 4th-8th, 2020<\/h4>\n<figure id=\"attachment_21612\" aria-describedby=\"caption-attachment-21612\" style=\"width: 2000px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-21612 size-full\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/GLD_GDX_GDXJ_SPY_chart-2.png\" alt=\"\" width=\"2000\" height=\"1167\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/GLD_GDX_GDXJ_SPY_chart-2.png 1755w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/GLD_GDX_GDXJ_SPY_chart-2-300x175.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/GLD_GDX_GDXJ_SPY_chart-2-1024x598.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/GLD_GDX_GDXJ_SPY_chart-2-768x448.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/GLD_GDX_GDXJ_SPY_chart-2-1536x896.png 1536w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/GLD_GDX_GDXJ_SPY_chart-2-696x406.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/GLD_GDX_GDXJ_SPY_chart-2-1392x812.png 1392w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" \/><figcaption id=\"caption-attachment-21612\" class=\"wp-caption-text\">Source: YCharts<\/figcaption><\/figure>\n<h2>Federal Reserve Keeps on Printing<\/h2>\n<p>The Federal Reserve has continued it&#8217;s massive balance sheet expansion, triggered by the COVID-19 pandemic. Total assets rose another $65.5 billion to a fresh record $6.7 trillion. Bank of America expects Fed&#8217;s balance sheet to rise to nearly $10tn by year-end.<\/p>\n<figure id=\"attachment_21615\" aria-describedby=\"caption-attachment-21615\" style=\"width: 1998px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21615\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/fed-balance-sheet.jpg\" alt=\"\" width=\"1998\" height=\"1212\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/fed-balance-sheet.jpg 1688w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/fed-balance-sheet-300x182.jpg 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/fed-balance-sheet-1024x621.jpg 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/fed-balance-sheet-768x466.jpg 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/fed-balance-sheet-1536x932.jpg 1536w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/fed-balance-sheet-696x422.jpg 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/fed-balance-sheet-1392x844.jpg 1392w\" sizes=\"auto, (max-width: 1998px) 100vw, 1998px\" \/><figcaption id=\"caption-attachment-21615\" class=\"wp-caption-text\">Source: Bloomberg<\/figcaption><\/figure>\n<h2>Gold: History Doesn&#8217;t Repeat Itself, but it Sure Does Rhyme!<\/h2>\n<p>In their World Gold Forum presentation, Novagold presented a heck of a chart comparing gold&#8217;s current run to it&#8217;s run in the 70s.<\/p>\n<figure id=\"attachment_21623\" aria-describedby=\"caption-attachment-21623\" style=\"width: 1411px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21623\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/gold-history-repeats-itself.png\" alt=\"\" width=\"1411\" height=\"1004\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/gold-history-repeats-itself.png 1411w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/gold-history-repeats-itself-300x213.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/gold-history-repeats-itself-1024x729.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/gold-history-repeats-itself-768x546.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/gold-history-repeats-itself-696x495.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/gold-history-repeats-itself-1392x990.png 1392w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/gold-history-repeats-itself-100x70.png 100w\" sizes=\"auto, (max-width: 1411px) 100vw, 1411px\" \/><figcaption id=\"caption-attachment-21623\" class=\"wp-caption-text\">Source: Novagold<\/figcaption><\/figure>\n<h2>Shandong Gold Acquires TMAC Resources (TMR)<\/h2>\n<p>On Friday May 8th, TMAC Resources <a href=\"https:\/\/www.tmacresources.com\/investors\/news-releases\/Press-Release-Details\/2020\/TMAC-to-be-Acquired-by-SD-GOLD\/default.aspx\">announced<\/a> that it had been acquired by Shandong Mining at a price of $1.75 in cash (4% premium to the previous day&#8217;s trading price). TMAC has a market cap of $194 million.<\/p>\n<p>Needless to say this is a negligible premium for a stock that has been over $15 in the last 5 years and over $5 in 2019. The more important takeaway is the interest of Chinese mining companies in gold assets.<\/p>\n<h4>TMAC Resources 5-Year Share Price<\/h4>\n<figure id=\"attachment_21616\" aria-describedby=\"caption-attachment-21616\" style=\"width: 2000px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21616\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/TMR.TO_chart.png\" alt=\"\" width=\"2000\" height=\"1167\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/TMR.TO_chart.png 1755w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/TMR.TO_chart-300x175.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/TMR.TO_chart-1024x598.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/TMR.TO_chart-768x448.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/TMR.TO_chart-1536x896.png 1536w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/TMR.TO_chart-696x406.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/TMR.TO_chart-1392x812.png 1392w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" \/><figcaption id=\"caption-attachment-21616\" class=\"wp-caption-text\">Source: YCharts<\/figcaption><\/figure>\n<h2>IAMGOLD (IAG) Q1 Earnings<\/h2>\n<p>IAMGOLD reported Q1 results on May 4th after-market that were below street estimates, the stock initially fell -7% on the following trading day, however it was able to recoup losses ending the day down -1%.<\/p>\n<h4>IAM Gold Share Price May 4th-8th, 2020<\/h4>\n<figure id=\"attachment_21619\" aria-describedby=\"caption-attachment-21619\" style=\"width: 2000px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21619\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/IMG.TO_chart.png\" alt=\"\" width=\"2000\" height=\"1167\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/IMG.TO_chart.png 1755w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/IMG.TO_chart-300x175.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/IMG.TO_chart-1024x598.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/IMG.TO_chart-768x448.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/IMG.TO_chart-1536x896.png 1536w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/IMG.TO_chart-696x406.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/IMG.TO_chart-1392x812.png 1392w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" \/><figcaption id=\"caption-attachment-21619\" class=\"wp-caption-text\">Source: YCharts<\/figcaption><\/figure>\n<p>EPS came in at a loss of $-0.01\/share versus consensus estimates of $0.03\/share. IAG&#8217;s 2020 production guidance was revised lower to 685-740koz, -2% below their previous guidance 700-760koz.\u00a0 Additionally, cash costs and and all-in sustaining costs were revised higher, 5% and 8% respectively.<\/p>\n<h4>IAMGOLD &#8211; 2020 Updated Guidance<\/h4>\n<figure id=\"attachment_21618\" aria-describedby=\"caption-attachment-21618\" style=\"width: 1421px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21618\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/iamgold-2020-guidance.png\" alt=\"\" width=\"1421\" height=\"561\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/iamgold-2020-guidance.png 1421w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/iamgold-2020-guidance-300x118.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/iamgold-2020-guidance-1024x404.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/iamgold-2020-guidance-768x303.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/iamgold-2020-guidance-696x275.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/iamgold-2020-guidance-1392x550.png 1392w\" sizes=\"auto, (max-width: 1421px) 100vw, 1421px\" \/><figcaption id=\"caption-attachment-21618\" class=\"wp-caption-text\">Source: IAMGOLD<\/figcaption><\/figure>\n<h2>Kirkland Lake (KL) Q1 Earnings<\/h2>\n<p>Kirkland Lake reported Q1 results that were in-line with street consensus pre-market on May 6th, the stock traded down -3% that day.<\/p>\n<p>Kirkland Lake completed it&#8217;s acquisition of Detour Gold on January 31, 2020, Detour Lake is a large-scale open pit mine located in Northern Ontario that will provide KL with a pathway for production growth.<\/p>\n<h4>Kirkland Lake YTD Share Price<\/h4>\n<figure id=\"attachment_21622\" aria-describedby=\"caption-attachment-21622\" style=\"width: 2000px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21622\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/KL.TO_chart.png\" alt=\"\" width=\"2000\" height=\"1167\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/KL.TO_chart.png 1755w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/KL.TO_chart-300x175.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/KL.TO_chart-1024x598.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/KL.TO_chart-768x448.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/KL.TO_chart-1536x896.png 1536w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/KL.TO_chart-696x406.png 696w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/KL.TO_chart-1392x812.png 1392w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" \/><figcaption id=\"caption-attachment-21622\" class=\"wp-caption-text\">Source: YCharts<\/figcaption><\/figure>\n<p>EPS ($US) came in at $0.70\/share which as in-line with analyst estimates.\u00a0 The company had withdrew 2020 guidance on April 1st as a result of COVID-19, in this earnings result the company stated that it will release new 2020 guidance when the Detour Lake and Macassa mines have returned to predictable levels of production.<\/p>\n<h4>Kirkland Lake Q1 2020 Results<\/h4>\n<figure id=\"attachment_21621\" aria-describedby=\"caption-attachment-21621\" style=\"width: 1169px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21621\" src=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/kirkland-lake-results.png\" alt=\"\" width=\"1169\" height=\"430\" srcset=\"https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/kirkland-lake-results.png 1169w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/kirkland-lake-results-300x110.png 300w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/kirkland-lake-results-1024x377.png 1024w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/kirkland-lake-results-768x282.png 768w, https:\/\/capital10x.com\/old\/wp-content\/uploads\/2020\/05\/kirkland-lake-results-696x256.png 696w\" sizes=\"auto, (max-width: 1169px) 100vw, 1169px\" \/><figcaption id=\"caption-attachment-21621\" class=\"wp-caption-text\">Source: Kirkland Lake<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>A weekly review of the most important news impacting the gold &#038; metals industry. This week: Chinese miner acquires TMAC + Kirkland Lake &#038; IAMGOLD results.<\/p>\n","protected":false},"author":7,"featured_media":15916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1755,59],"tags":[1613,1600,1521,116,1612,115,1598,271,272,810,1459],"class_list":{"0":"post-21609","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-growth_navigator","8":"category-metals","9":"tag-fed-balance-sheet","10":"tag-gdx","11":"tag-gdxj","12":"tag-iag","13":"tag-iag-to","14":"tag-iamgold","15":"tag-kirkland-lake","16":"tag-kirkland-lake-gold","17":"tag-kl","18":"tag-kl-to","19":"tag-tmac-resources"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Gold &amp; Metals Weekly Navigator (May 10th, 2020) | Capital 10X<\/title>\n<meta name=\"description\" content=\"A weekly review of the most important news impacting the gold &amp; metals industry. 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