Just Go With It:

From the HRA Journal Issue 268,
April 27, 2017

Trump hasn’t started a war. Yet. Other market worries like the French election also turned out to be overblown—so far at least.

We’ve seen some zigs and zags in the past two weeks as the market bought into, then dismissed, then bought into the reflation trade.  I remain cautious for both political and economic reasons but I also think we need to be realists.

 

The MIF Issue:

From the HRA Journal Issue 269,
May 12, 2017​

Thanks again to all of you who made the effort to attend MIF last weekend.  We had a great set of talks and presenting companies.  Those of you who couldn't make it can see everything by checking the link on this page where all videos from the event will be posted.

Metals in general and gold specifically had a pretty weak couple of weeks.  That weighed on everything. Everyone has their own downside targets but it looked like we might be putting in another bottom this week.

 

 

 

Is GDXJ "A Thing"?:

From the HRA Journal Issue 270,
June 5, 2017

You can sense the frustration when you talk to anyone trading gold producers or large developers.  Gold has staged something of a comeback and there are good reasons to think that should continue.  You’d never know it to look at the main gold stock indices though.  They are lagging badly.

 

 

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HRA looks for resource companies with the potential to at least double over one year based on asset or reserve growth through development of metals deposits for production or take over by larger companies. HRA also uncovers high risk/high potential exploration plays, the kind of "swing for the fences" trade that can yield returns of hundreds or even thousands of percent. You choose your comfort zone and which type of company you want to follow. Click here to view HRA’s impressive track record and you’ll understand why we believe that resource stocks should be in every portfolio.

But Aren't Commodities Dead?

No. Metals are basic necessities of modern life and the per capita use of metals rises with income levels. In the past decade several of the world's most populous countries underwent accelerated growth. While countries like China, India and Brazil are currently being impacted by recessionary forces, the changes that spurred their stronger growth are not cyclical. These secular changes occur as per capita income reaches levels that require increased infrastructure spending by government and allow for discretionary spending on things like housing. All advanced economies have gone through these high growth secular periods in the past. The difference is that never in history have so many people in the world been entering the "lower middle class" at the same time. The impact on resource use from this massive change is just beginning to be felt. Remember too that there are several other high population countries like Malaysia, Turkey, Indonesia and Pakistan that are just entering this growth phase now. Collectively, these countries have a population roughly equal to China.

Historically, these sorts of Quality of Life cycles last a full generation or more. We are a bit over 10 years into this one. There will be cyclical slowdowns within the secular trend and individual metals will underperform or outperform depending on their particular supply/demand balance. The mining sector, which we have decades of experience in, will have to struggle just to keep up many times during this trend. Economies turn much faster than metals production. In short, there are more bull runs ahead for various metals and they will start much sooner than most people think. Metals producers and explorers will go from pariahs to market darlings and the change will happen fast when it comes. It has many times before. Buying low and selling high means seeking out the right companies before the market does. HRA can help you do just that.

Latest HRA Media

 

Eric Coffin's latest video presentation titled "Shifting Perspectives Will Drive 2017 Markets" from the Metals Investor Forum 

                               January 2017

                      

HRA Testimonials

HRA is great at getting the "real" story out on resource companies by doing their due diligence and keeping on top of maps, news releases and corporate development. I highly recommend HRA...to any investor whether it be an institutional client or private investor.