We know one thing is certain in 2024

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Compared to the last week of 2023, there wasn't much difference in terms of the market value for the first week of 2024. The only company in the portfolio that had news this week was Benton Resources.

Since the stock traded rather flat this week, we can speculate on a couple of things:

1. There wasn't an overwhelming majority swaying one way.

2. Some speculators were pleased with the results and were happy to buy or accumulate at these levels.

3. There were those in the stock fully intending to ‘buy the rumour, sell the news’ and consequently sold.

4. Perhaps some speculators were hoping that holes 13 and 14 would intersect longer mineralization and sold in disappointment.

Here are the results if you want to have a quick glance at Wednesday’s news release.

Regardless, we were happy with the news and neither added more nor sold any shares.

As we head into the next week, we anticipate a few developments:

1. The closure of First Phosphate’s private placement. The initial announcement set a minimum of $2 million, but they've updated the market, indicating a current standing of $7.5 million after closing the second tranche.

2. The closure of Fathon Nickel’s private placement. Initially set at $4.5 million, they've updated the market on the first tranche closure, generating combined gross proceeds of $3,382,076. We eagerly await the final closure amounts for both.

🤞 Hopefully, Lavras Gold will release some drill results next week as well.

Some noteworthy news outside Wingman’s portfolio involves the anticipated free trading of Dryden Gold, a newly listed company. Currently, it is halted to distribute shares to brokers and individuals, with expectations to resume trading on January 9th.

If you haven't come across this company yet, chances are high that you will by the end of next week.

Considerable hype surrounds this stock, potentially leading to a significant market movement. You can learn more about it through Crux’s interview here or by visiting the company’s website here.

An impressive 53,700 g/t gold over half a meter is undeniably remarkable. Alongside this, they boast a robust lineup of shareholders and a well-credentialed management team, directors, and advisors.

It might be worth taking a quick look at their corporate deck.

Regarding financing, Wingman did not participate, and generally, we tend to be cautious about IPOs or, in this case, an RTO. As a result, we'll likely remain on the sidelines with this play, although it's undeniably an intriguing story.

Keep it on the watchlist.

This year, we're entering the 2024 US presidential elections. While we generally steer clear of speculating on the gold price and macro trends, one thing we are certain are interest rates cuts from the Fed to sway votes.

That’s just how this 💩 works.

What does this mean for the price of gold? Frankly, who the heck knows?

We're not in the business of predicting gold's trajectory. Despite its significant movement, given the events of the past year, some might have expected it to be slightly higher.

The Fed fund rates currently hover around 5.25%-5.5%, leaving room for rate cuts.

Considering gold as a non-interest-bearing alternative, there's a chance we'll witness some money flowing into gold.

If rates are cut, that will almost certainly result in inflows into the stock market. But where in the stock market?

Given the uncertainty and crises all around the world, and the high cost of living, amongst other things, maybe our subsector will garner more attention, especially given the current gold price and the fact that, besides a few winners, the majority of the junior mining sector is severely depressed.

Anyways, that is our two cents on the outlook for 2024.

When writing this, it reminded me of a saying we just heard Rick Rule say: