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Mickey Fulp: Junior Mining Stocks Have Bottomed Out

Mickey feels the gold market has bottomed and that a new bull market is developing albeit slowly. Once the rally begins, it will quickly move the mining equities. They are positive on the price of gold, due to global economic outlook being weak, geopolitical risks like Brexit and Venezuela, as well as U.S. and China trade talks. Central banks continue to buy, and a dovish Federal Reserve will likely have one interest rate hike in 2019 are all bullish factors for gold.

His team employs a contrarian philosophy, and they look at sectors with their “Four Un’s” methodology for opportunities. They look for those that are “unknown, unwanted, unloved, and undervalued.” He says, “The key is getting in early on ideas.” Markets function on greed and panic with fear being common for both. People fear missing out on the next rally, and then they panic sell. Don’t buy on a friends advice and don’t even listen to your broker do your own due diligence and research.

The world’s demand for copper will only increase incrementally due to Electric Vehicles. Copper demand has had steady growth since the beginning of electrification and will continue to do so. The supply-demand fundamentals for copper remain compelling. Very few projects are coming online, and world inventories are now low.

Mickey is a uranium perma-bull but cautions that it is a commodity that requires a lot of patience. Many catalysts will drive the market going forward. Long-term contracts are ending so a buying cycle should start soon. It’s difficult to get the complete uranium picture, and it’s possible that a lot of supply may remain in the pipeline.

Time Stamp References:
0:40 – Thoughts on gold and juniors
1:40 – Copper and E.V. Demand
3:30 – Copper supply picture
5:30 – Advice for investors
6:30 – Mistakes investors make
9:40 – Uranium catalysts coming
14:30 – Gold market patterns
15:00 – Bulish on gold

Talking Points From This Week’s Episode
• Copper demand continues to increase.
• Few new copper mines are coming online.
• Higher uranium prices are needed to stimulate U.S. uranium production.
• Bullish on gold due to the world economy, geopolitical risks, Fed dovishness and trade problems.

Michael S. “Mickey” Fulp is a Certified Professional Geologist with a B.Sc. Earth Sciences with honor from the University of Tulsa, and M.Sc. Geology from the University of New Mexico. Mickey has 35 years experience as an exploration geologist and analyst searching for economic deposits of base and precious metals, industrial minerals, coal, uranium, oil and gas, and water in North and South America, Europe, and Asia.

Mickey worked for junior explorers, major mining companies, private companies, and investors as a consulting economic geologist for over 20 years, specializing in geological mapping, property evaluation, and business development. In addition to his professional credentials and experience, Mickey is high-altitude proficient and is bilingual in English and Spanish. From 2003 to 2006, he made four outcrop ore discoveries in Peru, Nevada, Chile, and British Columbia.

Mickey is a well-known and highly respected throughout the mining and exploration community for his ongoing work as an analyst, writer, and speaker. You can find more of his work and his newsletter at: http://www.themercenarygeologist.com

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