Elon Musk sent crypto soaring today with his announcement that Tesla bought $1.5 billion in bitcoin. Also, uranium continues to catch a bid with stocks trending much higher today on the back of gains on Friday.
Our crypto kinetic rocket Canaan ($CAN) was up big today, along with our uranium kinetic rockets Energy Fuels ($UUUU) and Denison Mines ($DNN).
Finally, Denison did announce some ramp-up of its Wheeler River evaluation plans today here.
Well, not much is going on in the Uranium and Silver markets these days. Uranium and Silver are rangebound and don’t seem to want to do much of anything these days. For us, thats OK since part of our kinetic rockets strategy is writing out of the money covered calls – which will expire without being assigned if this sleepy action continues.
In other news, bitcoin seems to be retracing some of its surge as of late. As of this writing its at $30,943. We would love to see it retrace all the way back to $23K – for us, that would be go time, however that may never happen. We’ll see.
Alexco Resources ($AXU) which is one of our new kinetic rockets, announced some exciting drill results today:
ALEXCO EXTENDS BERMINGHAM HIGH-GRADE MINERALIZATION AT DEPTH, INTERSECTS 3,583 G/T SILVER OVER 8.76 METERS TRUE WIDTH AND OTHER SIGNIFICANT RESULTS
We are excited to see this extension of mineralization at depth and look forward to more news as Alexco continues to add to their existing silver resource at Bermingham.