Giovanni
4月前
good luck
buy some silver and gold
The banks have lost control: Eric Sprott on the $300 silver squeeze and his massive mining sweep
Kitco Media
By Jeremy Szafron
Published:
12:53
Updated:
13:08
Kitco News
The Leading News Source in Precious Metals
Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.
On Friday, February 27, 2026 at 10:58:35 PM EST, jsuther781@aol.com wrote:
commodities
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gold
The banks have lost control: Eric Sprott on the $300 silver squeeze and his massive mining sweep
Kitco Media
By Jeremy Szafron
Published:
12:53
Updated:
13:08
Kitco News
The Leading News Source in Precious Metals
Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.
The banks have lost control: Eric Sprott on the $300 silver squeeze and his massive mining sweep teaser image
(Kitco News) - Gold has firmly established itself in the low to mid $5,000s, a level the market is now pricing as the new normal. But the real story unfolding in the precious metals market is the violent breakout in silver. With spot silver showing incredible strength and pushing into the low $90s during a massive morning surge, the structural shift in global capital allocation is becoming impossible for the broader market to ignore.
Billionaire investor and Sprott Inc. founder Eric Sprott sat down for an exclusive interview with Kitco News Senior Anchor Jeremy Szafron ahead of the 2026 PDAC convention in Toronto. Sprott detailed the mechanics of the current physical squeeze, a monumental shift in Eastern trade flows, and his aggressive multimillion dollar sweep across the junior mining sector.
The CME Interruption and the Physical Squeeze
The explosive price action coincides with mounting stress on Western exchanges. This week, the CME experienced a Globex technical interruption that halted metals and natural gas trading for approximately 90 minutes.
In a statement provided to Kitco News, the exchange confirmed the exact timeline and impact of the outage. "Due to a technical issue, the CME Globex Metals and Natural Gas futures and options markets were halted at 12:15 p.m. yesterday. Natural gas futures and options markets reopened at 12:50CT. Metals markets reopened at 1:45CT," the CME stated. The exchange added that all day orders and GTDs with yesterday’s date were canceled, while all acknowledged GTCs remained working.
While the exchange attributed the event to technical issues, it follows a similar disruption last November, raising serious questions about physical market liquidity.
"There's no doubt there's a physical short squeeze going on," Sprott told Szafron. "We can track the inventories of the LBMA, we track them on the CME, we can track them on the Shanghai Gold Exchange".
Sprott noted that the physical drain is accelerating globally, specifically pointing to recent outflows in the East. "Shanghai today, they lost 10% of their inventories," he said. "Today they're down to about 11 million ounces. I mean, that's almost zero for a country the size of China."
He emphasized that major Western institutions are largely trapped in their paper positions as the physical supply vanishes. "There's still a short position of, I think, roughly 500 million ounces of silver on Comex," Sprott explained. "And I don't see the miners doing that, it's mostly banks."
The East Rewrites Global Pricing
Global pricing power is shifting rapidly away from Western paper markets and moving directly to the East. Sprott's claims regarding a massive influx of Indian capital are directly corroborated by breaking regulatory shifts. On February 26, the Securities and Exchange Board of India (SEBI) overhauled its mutual fund rules, officially allowing actively managed equity funds to allocate their residual portion up to 35% of their total assets into gold and silver instruments.
"The Indian government came out and said, yeah, we're gonna mandate that mutual funds and ETFs in India can now own up to 35% of their assets in gold and silver," Sprott explained. "And this pool of assets is 385 billion".
This regulatory change formally creates a massive new pipeline for institutional demand in India, opening up the country's $385 billion actively managed stock fund sector to precious metals.
Furthermore, SEBI has officially decoupled its valuation framework from Western benchmarks. Starting April 1, 2026, Indian mutual funds will be mandated to value physical gold and silver using domestic polled spot prices published by recognized local stock exchanges, marking a definitive shift away from the London Bullion Market Association (LBMA) pricing standard.
This move perfectly aligns with Sprott's assessment that the country plans to circumvent Western exchanges entirely. "We are not going to price off of the LBMA or the Comex," Sprott noted. "We don't want to, we're going to use prices established in India."
Kitco YouTube
The 15 to 1 Ratio and the Path to $300 Silver
As industrial consumption accelerates, Sprott maintains that a massive reversion in the gold to silver ratio is imminent. Historically, silver is mined at roughly an eight to one ratio to gold, but the market has strayed wildly from historical norms.
"I've always thought that we should go back to 15:1, and in our weight in going to 15:1, we'll overshoot, so we might go to 10:1," Sprott said. With gold trading in the low to mid $5,000s, a 15 to 1 ratio implies a fundamental silver price well over $300 an ounce.
This demand is exacerbated by direct automaker and tech manufacturer interventions. "Samsung did a deal with Silver Storm Energy, that they're going to buy all their silver output and then advance them like $5 million to get started," Sprott revealed, pointing to these industrial requirements as proof of the growing physical scarcity.
Hycroft Mining and Sweeping the Juniors
As for his own capital deployment, Sprott remains highly confident in his massive position in Hycroft Mining. He recently expanded his stake, acquiring an additional $6.3 million in shares to bring his ownership into the low 40 percent range.
Sprott noted the immense leverage of the Nevada asset at current spot prices, particularly given the sheer size of the deposit. "Their reserve calculation went from 1.6 billion silver equivalent ounces to 2.6 billion ounces," he stated. "I believe that's more than Hecla has, I believe it's more than First Majestic has".
He views the deposit as a coiled spring waiting for proper market valuation. "We're not selling it at cheap prices, we'll be selling it at 150 and 200 when we get there," he said.
Beyond Hycroft, Sprott has anchored a $3 million placement for Rio Silver, deployed $10 million into Silverco, and put $40 million into Highlander Silver in Peru. He expects a historic rush into the broader junior mining sector, drawing direct parallels to the tech boom of the late 1990s.
"We are going to get into what I call the Nortel Effect, and the Nortel Effect is when the world decides they want to own something, as they did when they all wanted to own Nortel," Sprott explained. "There's going to be a shortage of impact here and the stocks have massively underperformed the price of gold and silver. There's a lot of catching up to do".
The Missing Majors
Despite the historic free cash flow being generated right now, Sprott criticized the major gold and silver producers for sitting on the sidelines rather than pursuing aggressive mergers and acquisitions.
"I'm thinking that the seniors are proving they don't understand metal markets," he said. "They might understand mining, but it's not the mining that's important. Most of these guys, their production never goes up anyway."
Ultimately, Sprott believes the era of paper market suppression is ending. As systematic-trend-following funds cut their US equity allocations to absolute zero and rotate aggressively into safe havens, the physical tightness in silver is poised to trigger a historic repricing.
Watch the full exclusive Kitco News interview with Eric Sprott below to dive deeper into his $300 silver thesis, his top junior mining targets, and why he believes the physical metals squeeze has officially broken the paper markets.
The Banks Have ‘Lost Control’: $300 Silver, India’s Bid & the End of Wes...
k9narc
1年前
From "The Globe and Mail" today ......
In a research report released Monday titled From Overlooked to On Guard, Ventum Capital Markets analyst Amr Ezzat initiated coverage of Toronto-based Xtract One Technologies (XTRA-T +1.25%increase
) with a “buy” recommendation and a target price of 80 cents that implies a doubling from current levels.
“While unprofitable today, Xtract One has reached an inflection point – its proven AI-driven security platform is gaining rapid traction, and the Company is on the cusp of positive EBITDA within the next two to three quarters,” he said. “A new management team took the reins in late 2020, refocusing the Company on disciplined execution and long-term commercial viability. While we’ve followed Xtract One from a distance over the years, we were never drawn in due to the Company’s earlier, spending-heavy approach. Today, we see a different story unfolding – this team has built a credible track record of cost control, strategic clarity, and consistent progress. We believe the market is still treating Xtract One as a cash-burning startup, creating a disconnect between the Company’s fundamentals and its valuation. In our view, this presents a compelling opportunity to invest ahead of a rapid swing to profitability.
“Xtract One has roughly 5xed revenue, 10xed bookings, and 8xed backlog since F2022, reflecting the accelerating adoption of its platform. Importantly, gross margins have consistently remained above 60 per cent, and operating expenses have grown modestly – strong unit economics that support a clear path to breakeven EBITDA within the next few quarters. Yet despite this progress, the stock continues to trade as if it were a cash-burning startup, a disconnect we expect to correct as Xtract One turns profitable and demonstrates operating leverage.”
In justifying his bullish view, Mr. Ezzat argue high-profile customers and strategic partners are “validating Xtract One’s technology and amplifying its go-to-market reach.”
From The Globe and Mail .... Monday’s analyst upgrades and downgrades.
“Madison Square Garden Entertainment (MSG-NYSE, NR) – an early customer and 16-per-cent equity owner — has deployed Xtract’s system at iconic venues and lends significant credibility to the product. The Company’s partnership with Oak View Group (a major arena developer/operator) further extends its sales channels, turning marquee venue deployments into reference sites that attract new customers,” he said. “These relationships create a powerful flywheel effect, accelerating commercial traction across sports and entertainment markets.”
He said his 80-cent target “reflects the Company’s strong growth outlook and pending profitability inflection.” It is narrowly under the $1 average on the Street
“In short, we believe Xtract One offers a rare combination of high growth, a near-term path to profitability, and strong competitive positioning – at a valuation that fails to reflect this progress,” he concluded.
k9narc
2年前
Xtract One Selected by Bowie State University to Strengthen Campus Security
Xtract One Technologies Inc. - GlobeNewswire - 1 hour ago
TORONTO, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Xtract One Technologies (TSX: XTRA)(OTCQX: XTRAF)(FRA: 0PL) (“Xtract One” or the “Company”) today announced its SmartGateway has been selected by Bowie State University, located in Bowie, Maryland, to enhance safety across campus, including at athletic facilities and on-campus housing. The initial deployment, which took place this fall, was made possible through Xtract One’s partnership with Core Secure LLC, a security solutions integrator and hardware provider.
“At Bowie State University, we recognize that advanced security measures are crucial for protecting our community,” said Mark Cummings, Director of Public Safety and Chief of Campus Police at Bowie State University. “It’s important for us to foster a safe campus environment that still feels welcoming and conducive to a dynamic learning experience. Working with Xtract One and Core Secure allows us to stay ahead of potential dangers and enhance the safety and well-being of everyone who steps foot onto our campus.”
“In a digitally transformed world, modern problems require modern solutions. This deployment at Bowie State University allows the school to leverage our advanced SmartGateway technology to better monitor the premises and identify potential threats before they turn into emergencies,” said Peter Evans, CEO of Xtract One. “We're excited to work with Bowie State and expand our presence in the campus and school sector, to ensure that students can focus on their education and campus life without worrying about their personal safety.”
The implementation of SmartGateway across campus demonstrates Xtract One, Core Secure, and Bowie State University’s shared commitment to proactively detecting and addressing security challenges and creating safer environments for the community that allow individuals to enjoy campus life, experience an optimal learning environment, and have peace of mind.
SmartGateway revolutionizes security by discreetly and accurately scanning individuals for weapons and prohibited items upon entry, enabled by AI-powered sensors that detect threats without the need for guests to remove personal items. The advanced system replaces traditional metal detectors, ensuring fast, reliable, and unobtrusive screening, as well as critical security insights that maximize screening outcomes. SmartGateway enables seamless passage through checkpoints and ensures uninterrupted flow of movement.
To learn more, visit www.xtractone.com.
About Xtract One
Xtract One Technologies is a leading technology-driven provider of threat detection and security solutions leveraging AI to deliver seamless and secure experiences. The Company makes unobtrusive weapons and threat detection systems that enable facility operators to prioritize and deliver improved “Walk-right-In” experiences while providing unprecedented safety. Xtract One's innovative portfolio of AI-powered Gateway solutions excel at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, X, and LinkedIn.
About Core Secure LLC
Core Secure LLC (Core Secure) is a woman owned Disadvantaged Business Enterprise (DBE) certified small business, Core Secure consists of (25) twenty-five team members specializing in Turnkey Electrical and Security projects. With over seven years of being in business and working with some of the largest Transportation, Universities and Government agencies in the USA. Core Secure has learned the steps necessary to perform and complete tasks efficiently and safely in some of the busiest and harshest of environments. Core Secure specialize in helping clients reduce risks within their projects and facilities all while thinking creatively to help them achieve their goals. Core Secure may be a small, disadvantaged company, however, Core Secure continues to raise the bar by providing excellent teams to accomplish larger and extraordinarily complex projects. Core Secure works closely with their customers to ensure they are receiving the best solution possible all while maintaining budget integrity.
About Bowie State University
Founded in 1865, Bowie State University is the first Historically Black College/University (HBCU) in Maryland and one of the ten oldest in the country. As a leading institution of higher learning, Bowie State offers more than 65 bachelor's, master's, doctoral and certificate programs across arts and sciences, technology, business, education, healthcare and related disciplines. University provides high-quality and affordable educational opportunities in a supportive environment that empowers students to think critically, make new discoveries, value differences, and emerge as leaders in a highly technical, rapidly changing global society. For more information about Bowie State University, visit bowiestate.edu.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans,” “expects” or “does not expect,” “is expected,” “estimates,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
For further information, please contact:
Xtract One Inquiries:info@xtractone.com, http://www.xtractone.com
Investor Relations: Chris Witty, Darrow Associates, cwitty @unixdude-9385
Media Contact: Kristen Aikey, JMG Public Relations, kristen @manfred-1645
Core Secure LLC: Jason Tibbetts, President of Business Development, jtibbetts @777BW-4198
doug777
3年前
Letter from Evans:A Note to our Investors,
Recently, a number of you have reached out to me, expressing concerns that we have been noticeably quiet over the past few months.
The tone of these letters has expressed concern, fear, and worry. These letters also seem to demonstrate that the excessive negative chatter of the chat boards is, once again, weighing heavy on them. It seems to be an interesting cycle that repeats itself every 3 or 4 months.
The business is doing fine. In fact, we are doing more than fine, we are doing excellent.
The quieter period over the last few months was somewhat intentional. The investment bankers, institutional investors, and market analysts all pause for the summer months and every one of them advised us that news during this time gets little attention. Those that excessively spend on over-hyped marketing during this time are wasting their investors’ money, and my commitment to our investors is to spend judiciously, not irrationally like some competitors might do. When it comes to marketing, sometimes more is not necessarily better.
We have our upcoming earnings announcement on October 19th. I cannot share the results of that announcement at this time, but I am confident that the investors in Xtract One will be pleased to see that we are continuing the trajectory previously discussed in prior earnings announcements.
I have been wanting to hold another investor fireside chat, and plan to do so timed with some business announcements so that those can be discussed in detail during that chat.
I am also cautious about what we say and when. It is clear that our innovative approach to the industry, the thought leadership, the roadmap ideas, and even my own words used in interviews are being mimicked by competitors. The saying goes that “imitation is the finest form of flattery”, but not in this situation where our original ideas are being used against us.
The past few months have been very very busy, and highly productive. Locations like Radio City, MSG, and The Sphere going live. In the prior months we have installed new schools, hospitals, and arenas, converting bookings to revenue. We have executed pilots at a pace of about 2 per week with sports and other organizations. The business is growing, we are managing our Opex costs and now that the summer is over, we will be ramping our market communications, starting with last weeks Sidoti conference to bring our continued success to the market. When we are allowed due to NDA’s to discuss news, we will.
Overall, we are doing very well, and I encourage all quality investors to ignore the arm-chair quarterbacks on the chat boards, and focus on the facts – the business performance metrics and critical milestones achieved, as will be discussed during our earnings calls.
It’s a good time to be an investor in Xtract One. Our stock price is down, our business is growing, which just means that this is a good time to buy, which I plan to do once my blackout period is past.
Peter
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FinNewsNow
8月前
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