No Whining
© Nick Migliacco, 6.3.25
Who you know is important — but who knows what is even more important.
And the folks I follow? They definitely know what’s what.
Now, why would anyone bother with the risk and angst of gold miners?
I’ll tell you why — two key reasons that have proven themselves to me:
*not a full transcript follows:
1️⃣ Small Bets, Big Potential
As I shared in my last issue of the DGS Newsletter, shares of gold miners can start at just C$0.20. They can go up to $20. With as little as $100 plus commission, you can take a position in gold’s potential upside.
It’s just a “little piece of the action,” true — but those little pieces have leverage. And that brings us to reason #2…
2️⃣ Leverage & Excitement
When a gold miner hits on a new deposit, excitement and leverage can build fast. The potential for buyouts or rapid stock appreciation increases. That’s where informed selectivity, which I offer in DGS Letter, makes all the difference.
Gold & Silver Metal: A Different Game
If you prefer physical metal — gold or silver coins and bars — the game changes:
- Physical metal is insurance, not leverage.
- If you store it securely, no one can swindle it from you.
- I buy physical metal when I have cash needing a safe place to hold purchasing power — not for speculation.
Today’s 100:1 price ratio between gold and silver changes accumulation strategies. You actually can accumulate more silver metal than gold. In mining stocks, nevertheless, the opportunities vary — so again, stay informed through the DGS Letter.
The Importance of Having “Canaries”
Now here’s where we shift gears — this is not a test, but an essential strategy:
You’ve heard the phrase “canary in the coal mine” — an early warning system for danger.
In the world of gold and silver mining stocks, having your own “canaries” is crucial. These canaries come in the form of favorite charts and indicators. They can alert you to market changes early. It is akin to how a loyal dog senses shifts in its environment.
Recent Market Action: The Huskies Were Howling
Last week, the stocks I track were acting up like a kennel of huskies eager for a sled run:
- I screened 190 mining stocks in just a two-week span. This is an unusually high number. Only about 10% made the cut.
- The choice was surprisingly broad:
- Explorers: 2
- Developers: 5 Gold, 3 Copper, 1 Zinc, 1 Silver
- Producers: 2 Gold, 2 Copper
This diverse mix caught my attention. Four of my trusted commentators were unusually negative about current global events.
But when I checked my “canary” indicators?
No alarms — in fact, those canaries were fat and happy. That also got my attention.
Flashback: Lessons from the Whale
Let me take you back to a major market event: The Whale.
In 2015, the U.S. Treasury lost its AAA+ rating. Someone (still unknown) dumped a massive amount of Newmont Mining’s production onto the futures market. It was equivalent to three years’ worth of Newmont Mining’s annual production in just one day.
The result? Gold crashed from $700+ to the mid-$300s — and it took about three years to recover and climb to $1,900.
The biggest Gold Miner ETF (GDX) was driven down to $12.64 and stayed in that range for two years. It broke free at $26. It then began its run to $46. It tracked gold’s rise from $358 to $1,900 by 2023.
Those who stood their ground? They prospered.
Those who ran for the exits? They missed the recovery.
Final Wisdom: Stand Your Ground
As for what happens next? No one knows for sure.
But here’s what I know from hard-won experience:
If you run, you’re done.
Stay informed. Stay steady. And keep your canaries close.
That’s the way to ride in this game — with no whining.
Till next time,
Nick, Denaliguide
Denaliguide Summit 
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