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Dow 1929 Vs. Dow 2021?

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Dow 1929 Vs. Dow 2021?
Bob Moriarty
Sep 11, 2021

The DOW JONES Index peaked on September 3, 1929 at 381.17. It ran lower into October 24th, 1929 when the market plunged 11% on the open from the preceding day. We call that Black Thursday even though the market closed only slightly lower.

The crash continued Monday October 26th when the Dow tumbled 13% and another 12% on Black Tuesday October 27th. The Great Depression had begun. The crash didn’t stop until July 8th, 1932 with the Dow down to 41.22, an incredible 89.2% drop.

I think it is going to happen again.


Very, very soon.

For months I have been suggesting that I believe the bubble is going to burst and we would have tops in the Indexes from mid-August into September before declining into a crash in late October.

So far, so good. The S&P peaked at 4545.85 on September 2nd. The DJI topped on August 16th at 35631.19. The Nasdaq high point was on September 7th at 15,403.44.

Most investors today have never been through a real market crash and have no idea of what is coming. You cannot have the extremes that we have today without a full reset back to the norm. Since the market is more out of balance than it was in 1929 and 2000 I would not be surprised to see a market crash of similar dimensions, that is to say a 89-92% decline.


Bob Moriarty
President: 321gold

321gold Ltd


The Covid Shot Wins a Gold Star For Attendance

Bob Moriarty
Sep 13, 2021

Never before in our nation’s history have we been ruled by such a collection of so many massive fools and swindlers. In 2020 we had the most fraudulent election in the US yet the MSM and most observers just nodded their heads. I am not a pro-Trumper so this isn’t a Rah Rah Trump rant. But guys, unless you can neither see nor think, it was a stolen election. I am very much a fan of fair elections. For sure we did not have that in 2020.

Just recently we got to see the long-term effects of handing children gold stars for showing up for class in the debacle surrounding the fall of Kabul. For now we can safely ignore the wisdom or lack thereof in conducting a war in the “Graveyard of Empires” and focus on the utter lack of planning on how to escape the Briar Patch we insisted on jumping into.

When you fail to reward success, when every child receives a gold star just for showing up, you make everyone equal as a failure. But we have important positions where we need people comfortable with success and winning. War, certainly, is one unless you have a country that fights wars just to fight wars as the US has turned into.

The only reasonable reasons to ever go to war are to defend your country and to achieve peace. You fight for peace, not for more and continuous war.

So we have legions of pompous over decorated clowns in uniform who know what it is like for a man to walk in high heels because that is a new element in training so men can understand what it is to be a woman. Why would I want to know what it feels like to wear high heels? Women wear them under the theory that appearing taller makes them more sexually attractive and isn’t that what it is all about?

I don’t think anyone finds men wearing high heels attractive. Actually it makes them look like idiots. Women volunteer to suffer the physical effects of wearing high heels. Men do not. It is a required part of officer training today. What a wonderful idea.

General Mark Milley is the ultimate recipient of gold stars no doubt going back to when he was in 1st grade. He showed up for everything and was taught we are all equal. Which is stupid. We are not created equal, we may have equal rights but some are tall, some are short, some bright, some stupid but none equal.

So we have populated our entire “leadership” class with overeducated and over decorated fools who never won a third grade hop scotch game much less anything of significance. Why don’t we question why we haven’t won a war since WW II? We didn’t even win that, the Russians did. Yet we continue to pour gold and the blood of our children into fighting minor countries who are and never were a threat to the US. And we lose every time.

If you have a few minutes to spare look at the obscene hardware decorating our top military officer. Is it any question as to why we get our butts kicked by squads of goat herders actually willing to defend their country, unlike Americans today? Why bother planning on how to exit a stupid war?

Milley looks like a cross between a North Korean border guard and a Pomeranian bellhop. On his chest he has twenty-two medals for attendance and nine bits of silver washed tin showing that he turned up for class. But he’s never won a battle, much less a war.

So it is with the Covid “vaccine.”

We have known for over a year how to prevent the bad flu that we now call Covid. And we have known for over a year how to treat it without people dying of kidney failure because they were treated with a drug owned by Fauci and Gates called Remdesivir that even the WHO admits is ineffective. “The panel made a conditional recommendation against the use of remdesivir in hospitalized patients with COVID-19, regardless of disease severity.”

Bill Gates and Fauci have a dog in the fight. They don’t want cheap and convenient, indeed long-term tested drugs to treat what is really nothing more than a bad flu that you don’t want to catch. Gates brags on video about making twenty times his investment in “vaccines.” So when Orange Man suggested that a magic potion to cure Covid would be available before the end of 2020, Fauci and the MSM immediately jumped on his case with a full court press. How absurd of the president to make such a silly prediction. So the election came and went and on December 11th the first “vaccine” was released.

There is a bit of a problem calling the jab a “vaccine”. Until 2015 to be called a vaccine, it required a killed or weakened infectious organism to ‘PREVENT” the disease. That morphed into “The act of introducing a vaccine into the body to produce “IMMUNITY” to a specific disease. By September of 2021 after billions of doses of the Covid jab the powers that be realized that in fact the shot didn’t prevent the disease and didn’t provide immunity to the disease. Actually the shot made Covid a lot more contagious. The majority of new cases were from those “vaccinated” so now the definition of a “vaccine” effective September of 2021 says, “The act of introducing a vaccine into the body to produce “PROTECTION” from a specific disease. We have gone from prevention to immunity to protection in short order. No doubt soon the definition will say “any drug designed to make more money for Fauci and Bill Gates because they are so concerned with our health.”

When you award medals for attendance you get generals like Milley who couldn’t fight his way out of a wet paper bag. When you hand out high office to the most mediocre based on paper qualification without any sign of real leadership you get a totally useless Secretary of Defense appointed because of his color not any real talent. You get a giggling Vice President appointed because she is part black and female. You get a PINO who can’t remember his own name or what day it is.

The Covid “vaccine” got a gold star for attendance. It doesn’t actually prevent Covid; actually it makes those who have taken the jab super spreaders of a far more contagious variety of the virus. We are in the midst of an explosion of new cases of Covid crowding out hospitals. Fauci and the MSM want to blame those who have chosen to not take the shot. But if they haven’t changed anything, how can they cause new cases? No one seems to have thought that through. It’s those who took the jab that made the difference.

Indeed, it is common and accurate knowledge that the flu, any flu, is worse in winter and least in summer. Here we are in the late summer and Covid cases are exploding. It hasn’t occurred to anyone that a chart of new cases and a chart of the number of people taking the shot are identical. Cases are skyrocketing because people take a shot that makes them more susceptible to the disease, not less. Now the definition of “vaccine” means the protection of Fauci and Gates from not having enough money yet.

Here is how the Covid shot has earned gold stars for attendance.

  1. The shots have killed tens of thousands of people and caused severe side effects in millions. That’s certainly worth a star.
  2. The shots have forced the virus into changing to protect itself in exactly the same manner as does over prescribing antibiotics makes germs mutate in a deadly way. Another gold star.
  3. It contains no weakened form of the virus so it doesn’t prevent the disease. One more star.
  4. It doesn’t bother providing immunity to the virus. Another star.
  5. It not only doesn’t provide protection to those who took it, it almost guarantees they will catch it again.
  6. It’s a free lottery ticket to ADE. You will love getting ADE. That’s another star.
  7. Those who actually got Covid prior to the “vaccine” picked up a natural immunity to the virus and many of the later variations after mutation. Take the jab and your natural immunity to the virus plummets. In Israel those who took the shot were thirteen times more likely to catch the virus again. Some protection. Such a deal. Another star.
  8. A Navy doctor with access to the military records of Covid deaths and adverse effects from the jab concluded that taking the series of shots increased the probability of mortality by fifty to sixty fold for those in the military. Young men and women in the military are at near zero risk from Covid but at substantial risk from the “vaccines.” That ought to be worth fifty to sixty gold stars for the “vaccine” showing up.
  9. The “vaccine” is the only medical treatment in history where its utter failure is blamed on those who didn’t take it.

Making everyone equal does not mean everyone is going to succeed in life. Actually it means everyone is going to fail together because they no longer understand what succeeding actually means.

Many governments around the world are trying to force people into taking the experimental gene therapy because they fully understand exactly what I am saying in this article. They need to have everyone to have the experimental medical treatment because when mass dying begins people are going to be very angry with those who caused it. Blame the non-jabbed means an attempt to deflect responsibility in exactly the same manner that Biden, Harris, Milley, Austin and the entire chain of command over the botched war and withdrawal in Afghanistan refuse to accept any responsibility.

But we will hold them responsible and many of the experts are going to find their heads stuck on pikes. People around the world are angry and demand someone be accountable for this disaster that is entirely man made.


Bob Moriarty
President: 321gold

321gold Ltd


A Sole Marine Stood Up to Defend America. He stands alone

Bob Moriarty

Sep 6, 2021
In response to the clusterfuck going on in Afghanistan recently a US Marine Lieutenant Colonel posted a video asking why no one had been held responsible for the biggest military failure in American history surrounding the poorly planned and executed withdrawal. He demanded accountability. So his superiors fired him. He has since resigned leaving a multi-million dollar retirement on the table. Wouldn’t it be wonderful if we had more than one guy in the military demanding accountability?

I was in the service, the Marines, for almost six years. I served from July of 1968 until March of 1970 in Vietnam. I’m reminded today of a mission flown by a Huey Gunship squadron out of the Hue Phu Bai air field in March of 1970. The CIA had these Marine gunships escort some troop choppers into Laos where they inserted a small recon team made up of SOG people. The intent was to determine what the NVA troops were up to as they strolled down the Ho Chi Minh trail.
One of the gunships took heavy fire and crashed in flames. A roommate of one of the two pilots kept flying out to the site in the hopes of finding survivors. Nearly a week after the crash he was flying over the scene and someone almost naked, just wearing green skivvies shorts ran out of the trees and waved his hands back and forth. The chopper pilot flew over the man and recognized his roommate and friend.

The lieutenant flew back to the Marine base and reported what he found. He wanted to launch an immediate rescue mission. The request literally went to the top of the CIA and the decision was made to leave the survivor alone in the jungle to die. After all, lives of Marine chopper pilots were pretty cheap to the CIA. And while boots are taught in Boot Camp that the Marines never leave their dead behind, in this case it didn’t mean anything because after all, the pilot wasn’t dead yet.

The Marine pilot who found his friend out in the jungle hit the roof. He grabbed a crew chief and the first fully armed Huey he could put his hands on. He took off and immediately called the tower and told them he was going to blow the headquarters building up with all his rockets and then strafe any survivors unless a rescue mission was launched. The Group Commander, a bird Colonel realized the Lieutenants had a lot of experience shooting up the jungle so blowing up a nice command post was not a problem.

The mission was launched. They rescued the downed pilot and returned him to the base. For keeping his mouth shut he continued to be promoted until his retirement. The lieutenant who threatened the base headquarters was never again promoted and he left the service. But there was at least one brave Marine who would stand up and demand accountability and forced people into doing what they should have done in the first place.

While it’s true that when people sign up for the service they have certain legal obligations to their superiors, their superiors have unwritten but just as meaningful obligations to the troops under them.
Today the PINO, the President In Name Only, cannot speak a paragraph without reading from a card in front of him. He came into office fully senile and everyone simply ignores it. Years ago he was confusing his granddaughter with his dead son. I suspect that the plan was for him to hold the position for a few months only to be replaced by his Vice President, Kamala Harris. She is the closest thing to a hooker that has ever held such high office. She climbed the ladder of political success one rung at a time, on her knees. Her sole talent seems to be a propensity to giggle at inappropriate moments.
It’s what happens at end of empire when people take office as a result of the most corrupt election in US history. I’m not supposed to mention that, of course. Arizona held a full audit of the vote. The Democrats were so concerned about the integrity of the election in Arizona that they fought the recount at every step of the way. We don’t have the full results yet but the recount has pointed out that there were 74,000 more ballots by mail counted than were mailed out. In an election where about 7,000 total votes made the difference between winning and losing it seems to me that 74,000 mystery ballots pretty much proves fraud on someone’s part.

There are people today who believe the US had a moral obligation to invade a country that was no threat to them and kill as many people as possible in the name of making sure Lockheed Martin and Northrop Grumman could continue to increase their dividends and share price. There was the additional advantage to the US generals that there were always directorships in the massive companies supplying military equipment opening up. A nice fat paycheck comes their way after their retirement for selling crap to the same guys they used to command while on active duty.

I should point out here that a clump of goat herders just kicked the butts of “THE MOST POWERFUL AND WELL EQUIPPED MILITARY IN WORLD HISTORY.” With units no bigger than an average girl scout troop and armed with little more than AK-47 rifles and RPGs they whipped the US with all their space age toys and F-35s.
It would almost be tacky of me to point out that I was an F-4B pilot in actual combat. The F-35 procurement program is not only the most expensive weapons program in history, it is also the biggest piece of shit airplane the US has ever built. No one supporting the program ever flew a single mission in combat.

There are people who approved of the war. That would include the Neocons who never saw a useless war they didn’t think just spiffy. You can toss in the NYT, Washington Post and Wall Street Journal. The WP even had the gall to print a series of articles about Afghanistan in 2019 where they showed that the Pentagon and politicians in Washington DC had been lying all along about progress in the war. They, of course, were prime supporters of the war back in 2001.

A lot of people always against the US involvement in Afghanistan would be those who had read history books. While a reputation of being “The Graveyard of Empires” has an interesting ring to it, none of our generals had read it before. And after all while a single defeat in a meaningless and useless war in far off areas doesn’t directly lead to the collapse of an empire it does give a powerful hint about the future.
No one ever won any war. All that happens is that one side loses more than the other. But when an empire begins to engage in military adventurism, the end is nigh. It was true of Alexander the Great, the British, the USSR and now the US.

Lt Colonel Stuart Scheller wasn’t directly being critical of the US involvement in the war. He was responding to the utter chaos of the last month or so in the US withdrawal. The war was begun in 2001 by a president who was a drunk, a draft dodger and a crack head until his forties. Naturally he thought of himself as a latter day Alexander the Great. Crack heads tend to think that way.

People still argue about who really ran the White House. From the actions of Vice President Dick Cheney on 911, it would appear Cheney was really the brains in the White House. He was another draft dodger. Indeed I can’t find a record of a single person in the Bush administration who ever spent even a day in combat. Bush is a contemporary of mine, he being six weeks older. While I was flying fighter missions over North Vietnam he was down in Mexico snorting coke.

Then we had the Obama administration. The Military Industrial Complex was firmly in control of his administration. We continued to pour hundreds of billions of dollars into the cesspool we call the Afghan War. I’ve read figures that said that the cost of keeping one American soldier in the country for one year was a cool $1 million. Fuel had to be ferried in from Pakistan and would cost $75 to $100 a gallon. Wars aren’t cheap, you know. Not a single US General stood up and demanded accountability. Hell, they didn’t even point out it was an expensive and meaningless war against people who were no threat to the US. Not a single one.

In turn Trump continued the war for the longest time. The number of dead Americans was up to over 4,000 but no one was really counting. Granted, Trump, another draft dodger, did come to the understanding that when you have been in a war for nearly twenty years, you lost. The cost climbed to over $2.3 trillion. Trump wanted the US out of the country. The US sat down with representatives of the Taliban in something called the Doha Agreement. Trump wanted all Americans out of the country by May 1, 2021 but the CIA and warmongers at the Pentagon dragged their heels.

PINO Biden takes office in January of 2021 with the intention of removing all US forces by September 11, 2021. By the 8th of July 2021 his so-called administration changed the date to August 31st.

The Secretary of Defense, the Chairman of the Joint Chiefs, all of the chain of command in the military down to the lowest E-1 knew for eighteen months that the US forces were going to be pulled out of Afghanistan. After twenty years of losing a war to goat herders, was anyone really so stupid as to not understand the Taliban were going to march right back into Kabul and begin their Reign of Terror?

Lt Colonel Stuart Scheller believes those responsible for planning and executing the withdrawal of US forces should be held responsible for the biggest military disaster in American history. The US left Americans behind who couldn’t get to the airport. We utterly failed to even consult with our allies who contributed both gold and the blood of their children to what was a fool’s game from the very beginning. We totally deserted those in Afghanistan who worked with American forces. We spent over $85 billion on the worthless Afghan Army and delivered billions worth of munitions to the Taliban. It is far worse than a failure. It was a mistake.

We just proved the mighty US, the Exceptional Nation, is nothing more than a paper tiger led by a gang of fools and incompetents.
Lt Colonel Scheller hasn’t gone far enough even though he just threw away seventeen years of his life for nothing in return. It is not sufficient to bemoan a total failure of leadership in Washington up and down the chain of command with regards to the disaster in Afghanistan.

While crocodile tears are being poured in gallons from the MSM about the poor Afghans trapped in the Taliban Reign of Terror, we have our own Reign of Terror in America led by Bill Gates, Tony Fauci, and the legions of liars at the CDC, FDA, NIH and MSM.

There has been an effective coup d’état on the part of the WEF and the elites on we, the peasants, since the fall of 2019. Bill Gates held a planning secession called Event 201 at exactly the same moment the first delivery of the gain of function virus was made in Wuhan. Pure chance no doubt just as it was pure chance that the French outlawed over the counter sales of HCQ on January 1, 2020 just when it would have been most useful.

Afghanistan is a direct analog of the Covid Cult. In Asia we attacked a country that had not attacked us on the basis that they gave shelter to someone who might have participated in an attack on the US. The Taliban had the audacity to ask for proof of the involvement of OBL. Naturally the US promised to deliver. And never did. Later we learned that the attack on Afghanistan was planned years in advance and had far more to do with an intended pipeline. In other words, from the very beginning of the conflict everything the world was told was a bold faced lie.

In March of 2020 we were told that 50 million people would die from one of the deadliest medical disasters in all of recorded history. If we would agree to a two-week lockdown we could “flatten the curve” and the virus would be under control until a “vaccine” could be produced. It was all a lie. Even today the inflated number of total deaths is only 4.5 million and it includes gunshots, premature birth, suicides, car accidents, strokes, heart attacks, cancer and any other potential cause of death. Even the CDC admits only 6% of deaths came “from” Covid as opposed to “with” Covid. It was a massive propaganda campaign of “fear porn” over what is and was no more than a bad flu that you don’t want to catch.

The PCR test was being misused according to the inventor and Nobel Prize winner Kary Mullis who outright calls Fauci a fraud. Of course Fauci is a fraud and has never told the truth to the American people from the beginning. He is the head of the NIH that funneled $3.7 million to the Wuhan Lab for gain of function research and another $39 million of DOD funds. It was his position that while there was some risk to the gain of function research, it was worth it.

That’s very similar to the voice of Secretary of State Albright talking about the 500,000 children who died in Iraq as a result of US sanctions. “We think the price is worth it.” I wonder if Fauci would be so casual about the deaths of millions if the question were asked again.
The PCR test has been obviously flawed for eighteen months and anyone with eyes would have noticed. The cycle rate was set far too high to be accurate yet was the basis for shutting down the economy of the world. Elon Musk questioned the validity of the test so took exactly the same test four times on the same day and same conditions. Two tests proved that he had Covid. Two tests showed he didn’t have Covid. That’s a fifty percent error rate. Many real doctors have concluded the error rate is far higher.

Anyone who can both think and add would have questioned just how it would have been possible for the US with 5% of the world’s population to have 25% of the world’s cases and deaths. It is not possible unless we were really doing something different from the rest of the world.
Even the CDC now admits the PCR tests are meaningless and will no longer be allowed to be used after December 31st of this year. Well no shit, we shut down the world’s economy, bankrupted millions of people and killed an untold number of people as a result of a worthless lockdown based on bad data from the beginning.

Fauci and Bill Gates have a hidden vested interest in pimping the so-called “vaccine” that every day seems to have another headline about how it has killed tens of thousands of people and doesn’t actually protect those who took it. Also it probably puts them at greater risk from Covid and we have yet to determine the longer-term effects. Gates brags about his 20-fold return from his investment in “vaccines” even though his foundation has been thrown out of both India and Africa for the unknown at the time damages to those people used in the experimental “vaccine” trials.

Fauci, Gates, the CDC and the NIH own a piece of the pie for both Remdesivir and the various “vaccines”. That gives them a giant financial self interest in prescribing medicine that they know doesn’t work and a reason to put down any cheap and inexpensive alternatives. Indeed if Fauci actually admitted both HCQ and Ivermectin can cure Covid, the “vaccines” with their EUA would be forbidden. Fauci himself co-authored a paper in 2005 praising HCQ for its antiviral potential. But when Trump repeated the results obtained by a French doctor in mid-2020 Fauci immediately went on the attack and mocked the same sixty-five year old inexpensive alternative that he supported in 2005.
In May of 2020 the FDA issued an EUA for use of Remdesivir. Fauci pimped the far more expensive Remdesivir without disclosing his own personal financial interest. The drug had been through a trial for antiviral potential against Ebola in 2018 and the drug dropped from the trial due to the number of patients it killed through kidney failure. True to its nature, tens of thousands of the dead in both New York and New Jersey credited to Covid actually died of kidney failure due to poor medical treatment. Fauci doesn’t bother mentioning that. By November of 2020 the WHO recommended against the use of Remdesivir for Covid “ as there is currently no evidence that remdesivir improves survival.”

Later in 2020 it turned out that some doctors were treating patients successfully with a miracle drug named Ivermectin used in both human and animals for its anti-parasite values. Over 40 studies showed a decrease of up to 90% or more in fatalities by use of the cheap medicine. A two-day course in Mexico costs $120 pesos or $6 USD. So Fauci, the pimps in the media and even the FDA mocked use of the inexpensive alternative to “vaccines” that don’t work and have killed many thousands and injured millions more.

If the lies and deceit sound like an instant repeat of those told in the Afghan war it is because it is identical. The world has been lied to every step of the way. Covid is not and never was an accident. The NIH and Fauci financed the gain of function we now see. Fauci forced Remdesivir on the medical community despite knowing the high death rate from the drug. At least and at last the WHO has removed its recommendation for use of the drug. The WHO also no longer supports the idea of booster shots.

We were told we didn’t need masks. Then we were told we did need masks, then we were told we not only needed masks, we needed face shields. Then Fauci claimed two masks were better before retreating to only suggesting one. So if you “follow the science” what do you do?
Now we know by comparing countries that didn’t use masks to those that did, masks accomplish nothing.

We were told we needed to lockdown for fifteen days to “flatten the curve.” It accomplished nothing.

We then locked down for many months while the governors and mayors went on their vacations to exotic locals while we stayed trapped in our homes. Do as I say, not as I do, I suppose.
The lockdowns didn’t work. The demolishment of our economy took the lives of thousands of American through youth suicide, murders, and premature deaths due to a lack of prompt medical care even while hospitals sat idle, alcoholism and drug abuse. The list of “collateral damage” could go on for pages.

The WEF, the Military Industrial Complex, all of social media, the MSM, Bill Gates, Fauci, the NIH, CDC and FDA have been lying all along and they knew it. Just like the Afghan war.

Part of the problem is sheer greed on the part of Fauci, Gates and Big Pharma on a new massive historic scale but by refusing to even try cheap and effective solutions the entire medical community has by and large participated in mass murder.

The American experiment in freedom and democracy ends on September 15th, 2021. That fat fraud that claims to be Secretary of Defense has ordered the entire US military to be “vaccinated” by the middle of September. If the gutless and useless generals commanding our 2.2 men and women on active duty and in the reserves bend over and follow what is obviously an illegal order, the US is finished.
This is a coup and we will know on Sept 15th just who runs the country. It is time to man the barricades.

A former Navy surgeon did a short two-minute clip and pointed out that the young men and women who make up our military have a hundreds of percent higher risk of dying from the “vaccine” than from Covid. If those young people are jabbed, it will kill fifty to sixty times more of them than have died of Covid. All for Big Pharma, Bill Gates and Fauci.

Congress has authorized up to sixty general grade officers in the US Marine Corps. If every swinging dick wearing stars stood up and said, “not on my watch” and “I demand accountability” we could retake our country and end eighteen months of Covid Cult stupidity overnight.
Biden, Harris, Austin, Milley all need to go. We need to defend our borders and go back to the reasonable concept of one man, one vote. In the end this coup on behalf of the Elite and the WEF will fail. It’s merely a question of just how many people will die in this insane wet dream first.

Bob Moriarty
President: 321gold
321gold Ltd

Copyright ©2001-2021 321gold Ltd. All Rights Reserved

Base Metals Eloro Resources Junior Mining Precious Metals

Eloro Delivers Universe Class Results

Bob Moriarty
Jul 30, 2021

I wrote about Eloro about three weeks ago and pretty much covered the story. The Iska Iska project in Southern Bolivia will be a mine. It is far too big and far too rich not to be a mine under any commodity prices.

The company released drill results on July 28th that probably would not qualify as just world class but it would be more accurate to call it universe class results with 300.75 meters of 129.65 g/t Ag eq.

(Click on images to enlarge)

As I did in my last piece a few weeks ago on Eloro I’m going to cheat a little bit and convert the silver eq into grams of gold. The intercept had a value of about $106 USD per tonne and while 2 grams per tonne gold eq would be about $117, it’s close enough for government work to use 2 grams for ease of understanding.

If you cube the 300.75 meters and use a s/g of 2.7 you get just over 54 million tonnes. Factor in the 2.0 grams and the POG right now of $1831 you have a hole showing about 3.5 million ounces of gold and a total value of $6.4 billion. Since 2 grams of gold is worth about 10% more than the 129.65 grams of silver, reduce that to about $5.8 billion for one hole. In every other case I have used this technique of cubing a hole I say that of course that is the very maximum value you could get out of one cube of that grade. In the case of Iska Iska, it’s entirely possible, indeed probable that they will have cubes of that size and that grade.

Sorry folks but the market just doesn’t get it.

I took the highest gram meter intercept from New Found Gold, which is also a mine in the making, and did the same cube trick because I want potential investors to understand how important long intercepts are. New Found Gold had a world class intercept of 146.2 grams of gold over 25.6 meters for an incredible 3,742 gram meter. That is $8,600 rock. A cubic meter would be worth $23,220.

When you cube it and compare it to Eloro’s hole you get an amazing difference due to the giant length of the 300-meter Iska Iska hole. Eloro had a 54 million tonne hole, NFG had a 45,298 tonne hole. Iska Iska had about 3.15 million ounces compared to 213,000 ounces for NFG. Now I do not want to take anything away from New Found Gold. The company has put in an incredible discovery program and is one of the greatest gold discoveries in the last five years but Iska Iska has a $6 billion hole compared to a respectable $389 million hole for NFG.

As of the close on July 29th, ELO had a market cap of $257 million and they are holding $23 million in cash. The only thing holding them back from bringing in more drills and increasing the speed of exploration is the backlog of 26,000 samples due to Covid.

As an aside, Cartier Iron holds about 2.4 million shares of ELO worth right at $10 million. At a close of $.13 on July 29th, CFE has a market cap of only $11.7 million.

Eloro is an advertiser. I have participated in several private placements in the past and bought shares in the open market. I am naturally biased so do your own due diligence.

Eloro Resources Ltd
ELO-V $4.17 (Jul 29, 2021)
ELRRF-OTCQX 61.7 million shares
Eloro website


Bob Moriarty
President: 321gold

321gold Ltd

Base Metals Eloro Resources Junior Mining Precious Metals Uncategorized

Underestimating Eloro

Bob Moriarty
Jul 12, 2021

We seem to be in the midst of a minor correction in gold stocks. Gold goes down a little and the gold stocks go down a lot more. It must make sense to someone but not to me. In any case, we are due our typical summer low soon as I talked about in an interview recently.

We are moving into the strongest period of the year for the general stock market in the next few weeks. I expect the S&P and NAZ to shoot higher on the DSI, now 84 and 85 into the peak followed by a decline into September/October and a major crash. By almost every measure, the overall stock market is at peak stupidity. Once it starts going downhill, nothing will stop it. A lot of paper resources are about to disappear permanently.

Eloro Resources (ELO-V) put out a brilliant press release last week that clearly no one understood. The stock dropped by 10% over the next few days and is down about 30% from its all time high in February.

That’s nuts. Eloro is quoting the intercepts in silver equivalent basis that creates part of the confusion. It’s actually a silver/zinc rich tin system. Drilling to date in 43 holes has all taken place over a 2km by 1.2km area but the system is obviously far larger. The Covid issue in Peru has led to 2,600 samples sitting gathering dust waiting to be tested in Lima. Eloro is told things are improving but instead of having three drill rigs turning, the company should have fifteen, it is that big.

Hole DSB-08 showed a massive 252.89 meters of 69.89 silver eq. I’m going to convert it to gold because people are a lot more comfortable thinking gold in grams than silver in grams. I’m going to show you two different ways of determining just how good a drill hole is compared to others.

I think most of my readers are familiar by now with the concept of gram/meters. Multiply grams in gold times intercept length in meters to get a number. For hole DSB-08 I’m going to use 1 g/t Au since that is almost exactly the ratio to silver right now. So hole DSB-08 would be an easy 253 gram/meters and anything over 100 g/m is a giant home run.

I use another way of measuring really deep holes because it shows investors just how important long intercepts are. I’m going to cube the hole that is 253 to the 3rd power. Then give it a SG of about 2.7, in grams we will use a factor of 1 for the assay in grams of gold and divide by 31.1 to get ounces and times the price of gold.

If instead of a simple drill hole of 252.89 meters we had a cube of 252.89 meters with the same grade, that single hole would have a value of $2,541,928,701 in USD. Of course we do not have a cube but it will show in relative terms just how valuable long intercepts are to a resource.

Now lets use hole DSB-10 with an incredible 29 different mineralization intercepts over the 1019 metres of the full hole. The best intercept was 56.12 meters of 114.96 grams silver eq. I’m going to use a figure of 1.64 g/t gold to reflect the intercept in gold rather than silver. That would give a gram/meter reading of just over 92 in gold terms. Not quite as barn burning as hole DSB-08 but considering it was one of 29 different intercepts of mineralization, hole 10 is a giant home run.

So again we cube 56.12, multiply by 1.64 since we have converted silver grams to gold grams, then 2.7 for SG, divide by 31.1 to get ounces and multiply by $1808 for the current POG. That makes the 56-meter hole in theory worth $27.7 million in USD if it were a cube.

On this intercept we are going to use the 74.39 meters cubed with a gold conversion from silver grams of 1.14 g/t Au, same SG of 2.7, divide by 31.1 and times POG of $1808. In gram meters, it is about 85 compared to 92 for the previous hole.

Here is where it gets really interesting and valuable to an investor. While the intercept is only about 18 meters longer, the grade is lower by about 35% but working out the theoretical cubic value of $64.6 million in USD. Investors tend to think that grade is key but in fact to a mining engineer, the length of an intercept is much more important. Two intercepts with similar gram meter measurements show one is more than twice as valuable as the other because of the length of the intercept.

With really giant mines, mining and milling costs drop a lot with tonnage. Tonnage is far more important than grade. $68 rock may not seem like much but at the end of the day when they start putting numbers on the back side of an envelope I suspect mining and milling will be in the $20-$25 range in USD. There will be a lot of economies of scale here. This is going to be a great mine.

I think Eloro should have said something about the total length of the 29 intercepts in the 1019-meter hole. It would be interesting to know if 30% of the hole was mineralized or 70%.

By using the two methods I have suggested, I think investors can come up with a reasonable idea of the value of drill intercepts. To a certain extent the company may have overplayed the hole 10 and created a buy the rumor, sell the news situation. However I happen to be the most bullish on this company’s potential. Every hole they have drilled has hit mineralization. Every single hole. And there are some real world class intercepts.

While Eloro has rocketed higher in the past year, I think the future is even brighter. I’ve pounded the table again and again with management. With a project of this size they need a lot more drilling going on. But when a company does exploration, they have to have the data from prior holes before knowing how to position their rigs. The 2,600 overdue assays are the only thing holding the stock price and exploration back. And someday the labs will catch up.

I happen to believe the company will end up with 1-2 billion tonnes of $100+ rock. Being far more professional, the company will never say that even if they do think it. By the end of the year when they come out with an initial 43-101 resource, the majors will be lined up with checks in their hands wanting to partner with Eloro.

The single most important purpose of any drill program is to fill or kill. Is this a mine or should we kill it? Eloro is way past that point. I think this is going to end up in the top five projects worldwide discovered in the last ten years. It is a giant project to anyone who can both see and think at the same time. That may be its saving grace. Certainly resource nationalism is a problem in Peru, Chile, Ecuador and even the Dominican Republic. But this is going to be so big and make such an important contribution to the government of Bolivia that I think they will keep their hands off.

Eloro has no problems other than 2600 assays gathering dust in Lima. They are well cashed up with $25 million in the bank. Run by a great team of the strongest geologists in South America on this sort of system and they continue to deliver excellent results under trying circumstances.

Eloro is an advertiser. I have a big position I have taken part in prior placements and bought a lot of shares in the open market. The success will continue. Someday investors will realize they have a tiger by the tail. Do your own due diligence.

Eloro Resources Ltd
ELO-V $4.00 (Jul 09, 2021) 
ELRRF-OTCQX 61.7 million shares
Eloro website


Bob Moriarty
President: 321gold

321gold Ltd