The Panic-Proof Portfolio (Stockchase Research)Equinox GoldEQX.TOTOP PICKSep 12, 2024

Gold prices are hard to predict. EQX just merged and will become the #2 gold producer in Canada to $1.9 million in production in the future. The challenge will be their execution. The gold price will likely take a breather or even pull back.

Newfoundland is a good, as opposed to great, gold province. Balance sheet looks much better. Will do well going forward. Investors need to be prepared for shocks, rewards will be episodic. Market will be afraid of some of its moves, but the current CEO will ensure those things work out over time.

Doesn't own this one, but 6-7 weeks ago he reduced his gold exposure after this wonderful rally. Thinks we're in for a period of some consolidation. We're in the very early stages of a long-term bull market, it's just taking a breath. Past gold markets have tended to move in 3 legs. The intermediate and small companies will have lots of opportunities in the next leg higher.

He has some Kinross and some AEM. He likes their jurisdictions, where he's comfortable with the risks.

In the very near term, may trade off because it's acquiring CXB. Looking out over 1 year, suspects Canadian operations will ramp up and they'll do very well as they generate more free cash. Larger size means likely included in more indexes.

It had mixed results over the past few years but is ramping up production in Ontario and paying down its large debt. It could pay off its debt over the next three years at the price of gold even a few months ago at around $2700 which would be good for the stock price. Gold could reach $3000.

They've had mixed results in past years. They are, though, ramping up an Ontario project to fill capacity, as they pay down their heavy debt. At $2,800 gold and at full capacity, the company expects to pay down all debt in 3 years. Stick with it. It's expected for gold to keep rising, some saying $3,000.

Recent projects that are not on time very disappointing (market turned out to be correct). Problems with operations elsewhere in the company also a concerned. Investors could see another equity issue - but isn't sure. Company has a lot of debt. Will continue to hold share - believes in management. 

Gold's pulled back along with the market correction of the last couple of days. Looking at the chart, steady uptrend of higher lows, quietly working its way higher. At this point, looks like a correction within the trend.

Owns shares, and is a long term investors in the company. Share prices have been punished due to skepticism on mine build out - but is recovering. Expecting a higher share price if company is able to execute on latest mine prospects. 

Their intrinsic value is rising rapidly. The stock is an interesting breakout point, possibly to $13-14. He's bullish the junior gold names and the price of gold.