Founders AM: Bank Asks, "Which miners are most exposed to Gold?"

Founders AM | Change is Coming

Housekeeping: Good Morning.

---

Intro: This is brand new stuff

The last few weeks we noted that in light of Hartnett’s: Gold bullishness, his Tech bearishness, and EM stock bullishness in combination— that this has to put Miners on his radar now. The attached report may be the beginning of it all at his bank. Full write up later in the week for Premium.

We would note: These type of reports come out when a bank is either thinking like we just suggested BOA was, or clients start asking since they are thinking the same way. Either way.. Miners are (finally) on the agenda at one bank as a direct result of the price of Gold.

Bottom Line: This report gives backdrop of Gold situation as we all know here. It then discusses miners and their exposure to gold price. Finally it differentiates among miners on a fundamental basis.

Miners are undervalued, and this bank is now looking at it. Some wonderful mining stuff here. It was less than a month ago RBC basically threw in the towel on miners…

Again, full Premium breakout later in week. A lot to absorb. Here is the pdf in full.