The first installment of Q3 dividend of $PBR & $PBR.A, to be paid on February 27 has been fixed. The net amount is $0.151763/ADR. Note that there is 15% dividend withholding tax by Brazil government.

UST yield curves of 3 months before the first rate cut (06/17/2024), the day before the rate cut (09/17/2024) and today (12/11/2025).

The first installment of the Q2 dividend of $PBR and $PBR.A, to be paid on December 1, has been fixed. The net amount is $0.100746 per ADR share after tax and fee.

“Gold bull markets are designed to shake off all but the most determined and knowledgeable investors.” “The gold bull is the toughest bull to ride. It bucks you off at every opportunity.” --Richard Russell https://t.co/gtvQ1mtk0G

A great interview of Rob Mullin of @MRAfunds by @moneyofminepod that every resource investor should give it a listen/watch. https://t.co/TDhCEWgeMg

At time mark of 33:15 of this recent interview with legendary investor and fund manager Peter Lynch, he said: "...we bought some gold stocks when people hated gold" https://t.co/sGuoMHkeoZ

The 2nd installment of the Q1 dividend of $PBR and $PBR.A, to be paid on September 29, has been fixed. The next amount, after dividend fee and 15% tax on return of equity interest, is $0.156549

The first installment of the Q1 dividend of $PBR and $PBR.A, to be paid on August 27, has been fixed. The net amount, after 15% tax and ADR fee, is $0.135929 per ADR share.

Despite the significant rise in most gold equities YTD, large gold producers are still trading at a substantial historical discount to the yellow metal 👇 Discount/Premium to Bullion History (2015-Present): Senior Gold Producers 🪙⛏️ "On average, gold producers are still trading

For people who complain too much about the underperformance of miners, please note that miners have outperformed spot gold (not counting any dividends of miners) by ~75% since middle of January 2016.

In the entire history of XAU index, its ratio to gold averages ~0.17. The low of the ratio is 0.04, in January 2016. It is 0.07 now. If the ratio returns to the historical average, miners will need to outperform gold by 140%. The outperformance will come in next few years.

Here is a great road map of asset allocation as a function of inflation rate from Michael Howell @crossbordercap. I screen captured it from an interview of him.

Dr. Marc Faber on the upside of platinum (from the interview linked below that was aired on July 18, 2025) https://t.co/inX7x7XN8l

"If you go into a trade for the wrong reasons, you’re asking for trouble." The intro note to IKN843 this weekend, "Beware of the Dog", got plenty of positive feedback So for fun let's share it here as well (1/4) 🧵

As the left chart (h/t @minenergybiz) shows, many so-called silver miners are actually gold miners. The silver revenue of $PASS will rise to ~55% after $MAG acquisition and reopening of Escobal mine. Based on valuation (right chart), $SVM and $PAAS are my primary silver play.

Buy what China is buying! Simon White at Bloomberg published an outstanding blog on gold with some killer slides that I share herewith and to which I subscribed for the past 18 months: Gold should resume its rally before the year is out as doubt persists over the integrity of

Dr. Marc Faber, in his monthly commentary for July, suggested to accumulate platinum, which he believes to have ~200% upside potential and ~25% downside potential. https://t.co/S4krIXA3xj

The payment in USD for the 2nd installment of the Q1 dividend for $PBR and $PBR.A has been fixed. An amount of $0.130497 per ADR share will be paid on June 27.

1) Secular Bear Market in Bonds This is the major difference that few recognize. From 1920 through 2020, a 100-year period, the only time you lost money in Bonds was from 1965 to 1982. The yellow in the chart highlights secular bear markets. The 80-month moving average of

Something we hear a lot: "I missed out on the stock rally from Oct 2022." What did you miss? Gold is up ~100% Silver is up ~100% GDX is up ~130% GDXJ is up ~150% SIL is up ~100% AEM is up ~220% WPM is up ~200% AU is up ~270% AGI is up ~320% CDE is up ~200% EGO is up ~280% GFI is