Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Thom Calandra of the Calandra Report shared his thoughts on the resource sector, focusing first on gold and gold stocks.
He pointed to the ongoing strength in the gold price, and said gold stocks are finally beginning to respond.
‘When we see more momentum as we’re seeing in the physical price, that will translate (to the gold stocks),’ he said. ‘It’s already started translating into the gold equities. It’s a stealth gold rally, as my friend Simon Catt in London says.’
Calandra also spoke about uranium’s run, cautioning investors not to chase stocks in the sector, and touched on copper’s potential. His largest holding is Robert Friedland’s Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF).
He gave his perspective on silver and platinum, and emphasized the importance of owning physical metal.
‘When it comes to owning physical, of course there are the physical trusts. I own the abrdn Physical Platinum Shares ETF (ARCA:PPLT), I own trusts that own physical copper. I own the Sprott Physical Gold Trust (ARCA:PHYS) and Sprott Physical Silver Trust (ARCA:PSLV), and I own one uranium trust. It’s very important to own the physical,’ he said.
In closing, Calandra outlined the possible lithium, cobalt and graphite opportunities.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.