Wall Street Unplugged
Episode: 819November 11, 2021

Invest alongside ‘the Tom Brady of mining’

Gold hasn’t been a particularly exciting asset class recently… but that’s quickly changing. Gold prices are approaching their six-month highs… near $1,900 per ounce. And Ed Karr—former chairman of U.S. Gold Corp. and fan-favorite guest—predicts the price will hit $3,000 next year. 

Today, he’s back on the show to discuss current market conditions—including two factors that will lead to a rally in gold prices. [1:30]

Listen as Ed shares some positive news—and a huge catalyst—for his company, U.S. Gold, and what investors should expect over the coming months… including a major under-the-radar boost from the infrastructure bill. [10:00]

Ed’s built an incredible team at U.S. Gold… and he recently turned over the reins to CEO George Bee. He recounts George’s successes… and explains why he’s excited to see a man he describes as “the Tom Brady of mining” in the driver’s seat. [20:45]

One thing I love about Ed is he isn’t your typical goldbug… Today, he shares why he’s bullish on crypto… and what he expects as this innovative asset class matures over the next several years. [25:05]

Inside this episode:
  • Ed Karr of U.S. Gold Corp. predicts gold will hit $3,000 next year [1:30]
  • U.S. Gold will get a major boost from the infrastructure bill [10:00]
  • Why Ed calls George Bee “the Tom Brady of mining” [20:45]
  • What Ed expects from crypto—and why he’s bullish on its future [25:05]

Wall Street Unplugged | 819

Invest alongside ‘the Tom Brady of mining’

Announcer: Wall Street Unplugged looks beyond the regular headlines heard on mainstream financial media to bring you unscripted interviews and breaking commentary direct from Wall Street, right to you on Main Street.

Frank Curzio: What’s going out there? It’s November 11th, and I’m Frank Curzio, host of the Wall Street Unplugged podcast, where I break down headlines and tell you what’s really moving these markets. So it’s interview day, and I have a great one set up with Ed Karr. You should be familiar with Ed. He’s been on the podcast for a while. He’s the founder of US Gold Corp. USAU’s the symbol, a company now many of you own. It’s also in one of our portfolios. And someone whose been on this podcast numerous times. Big Bitcoin fan, I’ve been telling you for two to three years. Look, this is for real, this technology’s for real, the innovation’s for real, telling you to buy Bitcoin, which you don’t see often, right? People who are in the gold industry telling you also you can, oh, both Bitcoin and gold. It’s usually either or and these people fight each other on Twitter. But I really love interviewing Ed because he’s a former investment banker, decades of experience. So, he’s able to talk about lots of sectors, companies, really exciting stuff coming out with US Gold. Also, he is got some great updates on Bitcoin and cryptocurrencies and some ideas there, which we’re going to get to right now. So Ed, thanks so much for coming back on Wall Street Unplugged.

Ed Karr: Frank, it’s great to be here. It’s always a pleasure. Thanks for having me.

Frank Curzio: You know, I was looking back and we’ve done plenty of interviews now over the years, but one of them was special and it was when you were in Italy, you travel a lot and you were on lockdown. And I looked at that, that was March 25th before we were locked down here and going over and you just became a great source for me, but interviewing on lockdown, what was going on in Italy, what you was seeing and it was like a precursor for what happened in the US. Pretty crazy times back then, huh?

Ed Karr: Yeah, it really was very scary when the whole world starts going off a cliff and you see police and military and lockdowns and lines for pharmacies and supermarkets and masks and lot of uncertainty, just a lot of uncertainty. And thank God, we’re starting to get through that and a little more normalization towards the world. But it just shows you how fragile the whole world is.

Frank Curzio: It really is. And crazy times. I’ve had you on numerous times and one of the things I love having you on because we don’t see a lot of people like this. Gold background. Of course, you have an investment banking background for decades, but a lot of people in gold, which we’ve seen, and I make fun of Peter Schiff. Doug Case’s a good friend, another guy, but these guys are like gold and nothing else. And you were really touting Bitcoin and you are investing in Bitcoin. And this is over the past two, three years when we talked about this, when I was launching my… So much so that you became an investor in Curzio Equity Owners, which we are going to be trading on tZERO platform in a few weeks.

Frank Curzio: But let’s go into the macro picture here because we’re looking at gold where I see real interest rates or the 10-year real interest rate, which accounts for inflation is negative one point, whatever, which is pretty close to like its lowest level ever. We see tons of inflation everywhere in every single reading. You don’t even have to know what the PPI/CPI is. Anyone listening to this understands what inflation is, because they are paying much, much more for everything. Gasoline, food, everything, and all their bills.

Ed Karr: Yeah.

Frank Curzio: Now you have the infrastructure bill on top of that, you have a government that’s spending an unlimited amount of money, who doesn’t even care. They don’t even know how they’re going to pay for it. And they’re telling us by the infrastructure bill being passed, that that’s going to actually lower inflation. If that was the case, they should do 5 trillion, 10 trillion.

Frank Curzio: Anyway, but the point I’m getting to here is, I don’t think we’ve ever, ever seen conditions is great for gold. And yet, we haven’t seen the move that many people expect. Outside of the past two months, we’re finally seeing a nice trend, that was after the infrastructure bill. But what’s going on with that, and related, is Bitcoin stealing some of its thunder as historic value and inflation hedge, but why hasn’t gold been moving higher? And do you see that changing going to next year? Because it seems like it’s changing actually over past two months.

Ed Karr: Yeah. I really do see it changing Frank and even today, we see the US CPI number come out 6.2%. That’s a big print. I think even more importantly before that, you saw the Chinese PPI, yeah, their PPI, producer price index come out. And that was a huge print. That was 16%. Absolutely massive 16 versus about a 13.7% expectation. And China, as we all know, is the manufacturer of the world. They’re certainly going to pass those prices on that’ll ultimately in time wind up in US inflation. So, we’re starting to see a little pop today to gold. But you’re exactly right, man. It has been a rough 2021 for the yellow metal. It was okay first quarter, and then from May time period until just recently, we did nothing but slide down, and it’s kind of a head scratcher.

Ed Karr: Everyone’s out there wondering, what’s going on with gold. Is it dead? Is it just this old relic metal? Has Bitcoin replaced it or some of the cryptocurrencies, because it really has not been taking off. And I personally do not think that’s the case. I am still as bullish as ever. I think in this environment that we’re into now, when you start looking 6% consistent year over year inflation, this is inflationary environment. I do not believe it’s transitory. And I think gold’s going to start making a big move. I really do. I’ve been on record a long time, Frank, saying, I thought it would end $2,000 an ounce by the end of this year. And I think next year in 2022, gold goes from 2000 to 3000, maybe higher, but I think that 2000 to 3000 next year will be very reasonable. And if that happens, the entire junior exploration gold mining sector could really, really take off.

Frank Curzio: Now, do we need other factors to happen before people get back into gold? Because we’re seeing in companies of good projects like yourself, we haven’t really seen the price movements or anything. It seems like nobody really cares, and it’s out of favor, just like uranium has been out favor for a long time. But when you’re able to buy some of these stocks and we’re seeing it with Rivian, Rivian is incredible with valuations of whatever, a hundred billion plus and they’re going to do million of revenue. Expecting a lot of growth in the future. Maybe that happens, whatever. Again, but we are seeing a market where it’s very easy for people to make money and make money quickly, especially when it comes to cryptos and things like that. Do we need to see a pullback in the market where people… We see money shifting like crazy, not only from stocks where, if they come out of favor, they’re down 20, 25% in a day to where when they’re in favor, they’ll go up 200, 300% in weeks. But now, we’re looking at sectors and the shifting in sectors, everybody hate financials.

Frank Curzio: I like financials because of inflation. I mean, do we need the market to really pull back here before people say, okay, wait a minute. What about gold? And maybe then we’ll see that money pouring into it because, again, for the reason and the conditions that we have, and you’re surprised, I’m surprised, everyone else is surprised we haven’t seen gold a lot higher and we saw Bitcoin go higher. But I figured it would happen by now, but I don’t know if that might be a catalyst that we need to see before people really stop pouring into this thing.

Ed Karr: I don’t think so. I really don’t, Frank. I don’t think you need a big pullback in the general equity markets or even in the cryptocurrencies to have gold and the precious metals move significantly higher. And I do think there’s smart money out there that looks at relative value. The cryptos as you know, have been on fire. They’ve done so well. And if you’ve bought Bitcoin, Ethereum, any of the cryptocurrencies in the last couple years, the only strategy you should have did was hold on and buy more because they’re at all-time highs. I mean, Bitcoin right now is north of $68,000. I don’t think it has to go down. I think actually the cryptos are going into that parabolic phase, which might be the final phase of this bull leg up, but it could go up another 50, a hundred percent on Bitcoin. I don’t know. And it could happen very quickly.

Ed Karr: Bitcoin might be $75,000 by the end of November, we’ll see. There’s a lot of momentum right now. But some people that have been in that for a couple years, they’re going to start looking and rebalancing some portfolios and say, hey, where’s the value out there right now? I’ve made an incredible score on my Bitcoin or my Ethereum or my tech stocks, my Tesla, whatever it is. Okay, I’m going to take some chips off the table and rebalance my portfolio, and where should I allocate these idle funds? Because cash, as you rightly pointed out, Frank, is giving a negative yield right now. So, you’re not going to sit in cash.

Ed Karr: And one of the real relative values out there right now is gold, silver, precious metals, and the mining and exploration stocks. They have not moved yet, but they can. And when these moves happen, they can happen explosively and violently. And I think your example of the uranium market is a perfect example. That market was a dead man’s pulse for many, many, many years going on almost a decade, and then all of a sudden, it turns around and explodes. And I think that’s what we’re looking at soon in gold and silver.

Frank Curzio: Now, you are the founder of US Gold. And if guys listening to this through iTunes is cool, but if you’re watching through our Curzio YouTube page, you could see a nice shirt that you wear US Gold. So yeah, unfortunately you get to see my ugly face when you do that, and listen, I have a face for radio, definitely, but I like your shirt. Now, I know we have a lot of people listening this podcast who invest in US Gold, and it’s been kind of stagnant for the last six months. And there’s a lot of gold stocks that have pulled back tremendously, Kinross and things like that. But it’s basically between 11 and $9 over the past six months. Again, gold has been kind of whatever, but we’re waiting for this catalyst to happen. And it’s a catalyst and yeah, it’s a re-valuation of the current asset that you have, which is copper king, which is, it’s something I went to go visit personally. And I was blown away by it.

Frank Curzio: And the last time you had a study on this was I think 2012 and update 2017, but it was something like 1250 gold prices on it, if I remember correctly. And it’s a much better project now and you’re drilling and people are expecting good things from this, but it’s been delayed little bit. And I don’t know if that’s due to a COVID related thing, essays, stuff like that. But talk about that, because people are waiting for this to happen and it is going to be a pretty big event for you guys. So when are you expecting that study? I know it’s late, but that’s the question I’m getting from subscribers and people listen to the podcasts.

Ed Karr: Yeah, no, it really will be, we hope, Frank, a big catalyst and value driver for US Gold Corp. So, the pre-feasibility study coming out, we’ve tried to tell the market now by the end of this year. So, sometime in the next couple of weeks, we hope to have this report finalized and out. And you’re exactly right, a lot of the delays that happened in the pre-feasibility study were out of the company’s control, assay laboratories that had limited staffing and safety protocols due to COVID. So, your assays take more time than you would hope. And there were a lot of drilling that that took place in 2020 and also 2021. Moving that PEA to a PFS to a pre-feasibility study. You look at metallurgy, you look hydrology, geotechnical studies, resource expansion, and all that’s going to be incorporated. So, a lot of drilling, a lot of assays, a lot of geotechnical studies.

Ed Karr: We’re quite excited about this report, Frank. At PEA, I think you and your listeners know, it is preliminary, a preliminary economic assessment. It shows, okay, you got a deposit. You might have something that’s economic, but that’s kind of all a PEA is. A PFS, a pre-feasibility study takes it to a whole other level. And when I say that, this pre-feasibility study is going to show a real reserve for US Gold Corp. We did not have that in the PEA. So, we will show proven and probable ounces of gold and proven and probable pounds of copper. So, that should give us real value, and if you go out, your subscribers, all the listeners, Frank, they do a screen on their Bloomberg right now of all the companies across North America that have proven probable reserves, you’d come up with an average of about $160 ounce.

Ed Karr: That’s the average for all those companies right now in North America, because it’s a good jurisdiction. So, I don’t know yet what the proven and probable gold equivalent ounce number will be, but your subscribers should certainly be looking for that. And again, as we push this project towards this pre-feasibility study, we’ve got a field season going on right now in Wyoming. We’re going to move towards a full bankable feasibility study, file a mind plan permit and get this project into production in the near term. We think we could have an approved permit on this project, Frank, by probably early to mid-2023. That’s not too far away. So, it’s on all state of Wyoming ground and state of Wyoming has statutory time for frames on project permit approvals. So, it really should add a tremendous amount of value to the project and to the company once it’s permanent.

Frank Curzio: The way I look at this is, when I see a market cap at 70 million based on this study, just if we use today’s prices, we’re looking at 250 million for NAV of it. But you did a good job explaining the difference between these studies and how important it is. But to me, this is like people looking at as this as a catalyst. I mean, I wouldn’t be surprised if you see the stock go higher and then maybe use a liquidity event and then maybe people would sell and go into, but this is like phase one. This is like a drug passing phase one. And what you do that, it’s a whole other level because now that you pass phase one, it’s onto phase two, it’s more safety, there’s more… Now it’s for real.

Frank Curzio: Now the institutions start looking at you. It’s a real actual study data valuation of those assets go much, much higher. Explain that part because you showed how $160 an ounce for approval probable compared to other classes of it. But explain the post-study and what happens afterwards, the PFS. Because not only that, you’re in a great place, which I went to visit in Wyoming, which is extremely mine friendly where you get permits very, very quickly. Explain the process afterwards because a lot of people might see this and say, wow, let’s hit it and whatever. If it comes in at 300 million, comes in at 250, it comes with 400. That process is necessary. And now you’re going to see the investments come in, because people take it more seriously. But talk about that process afterwards because you have that all planned out and I feel like a lot of people sometimes don’t. It’s like that’s the event and they may, and then people are sitting there waiting and okay, what happens next?

Ed Karr: Yeah. And it’s a great point, Frank. Thanks so much for bringing that up is that this PFS is just the first step in a long value creation process for the company. So, PFS coming out before the end of the year, the next six weeks or so. Like you say, that’ll put a number out there on the net present value. When you look at it, moving it now with all of the field work that’s been taking place. As we speak right now in Wyoming, we still have drills turning, we’re drilling more holes, we’re collecting more data, environmental baseline studies. Getting all this data, a full bankable feasibility study and filing the mine plan permit. So, every one of these reports, de-risks the project. De-risks the project from a valuation standpoint. And just like your analogy in the biotechnology industry, when you have phase one and you move to phase two on a drug, that drug has been de-risked. You get more value, then you move on to phase three and guess what happens at that point?

Ed Karr: Big pharma comes in and takes you over. Because they know you’ve got phase three, the next it’s an approved drug for sale and marketing. So in our industry, we get this PFS. It’s going to show strategic institutions, big gold funds. Wow. There’s real value in this company. Then we put out a bankable feasibility study probably first half of next year, that even tightens it up more and we’re going to have upside from our pre-feasibility study into our full bankable feasibility study. In this pre-feasibility study, we know, Frank, that we’ve got a lot of aggregate. Aggregate is this really nice granite looking rock, and there’s a huge market for that. Guess what just happened, guys? Congress passed a stimulus bill. There’s going to be more infrastructure, a lot more infrastructure, especially around Cheyenne. Well guess what, they need this granite, they need this rock and our southern neighbors, just three miles south of us, Martin Marietta Materials, they’re in New York Stock Exchange, publicly traded company.

Ed Karr: You can go look at them. If you read their latest 10K, they’re selling their aggregate at $16 per ton. Well, we’ve got tens of millions of tons of aggregate that won’t show any value in our PFS. So, we might get a huge valuation bump going into our full feasibility study off that aggregate, so that you really want to look for. But also, once we get the permit on this project, Frank, once you have a permitted project, I’d invite any of your listeners right now, pick up the phone and call a credible mining investment banker at any of your top banks. Up in Canada, they know mining real well. Call a banker at BMO, call a banker at RBC, at TD securities, at Scotia, at Tanner Fitzgerald, projects in North America that are permitted are trading right now, one to one and a half times, NAV, net asset value.

Ed Karr: And let’s just assume, Frank, that the net present value comes in on the PFS, I’ll use your number, we’ll be conservative of 250 million. Well, we get that permit, the company’s worth a minimum of $250 million. We only have 7 million shares out. So, you can do the math. That’s north of a $30 stock price and that permit could happen by early to mid-2023. It’s not that far of a timeframe out there, so it’ll be a huge value creation event. And then once we get that permit, I’m sure you’ve been watching the industry, Frank, we’ve seen a flurry of M&A in the last couple of weeks. I mean, we just saw Pretium being taken over.

Frank Curzio: Yeah.

Ed Karr: Before that, Caliber took over Fiore. So, we saw the merger of Agnico and Kirkland. I mean there’s a lot of action taken place right now. And as the price of gold continues to go up, the mining companies are gushing free cash flow. They’re going to look at more acquisitions, especially in mining-friendly jurisdictions like Wyoming. So I think this will be an incredibly valuable asset. I think our shareholders that have a little patience, that don’t sell out, maybe on a little stock pop on the PFS. If they’re willing to hold for another 12 plus months, they’re going to have a chance to make some real significant gains on US Gold Corp.

Frank Curzio: Talk about the importance here because you hired George Bee, who’s a seasoned veteran, I met personally on my trip there and I loved him. He wasn’t a guy that was bragging about the asset. He is saying how he’s going to develop it. For me being in this industry, guys, I want to say this. And I think at you’ll agree, this is one of the craziest industries where you can get burned very, very easy. You think crypto’s bad, forget it. This makes crypto look great. I’ve been deep in the woods in this. And one of the things that I’ve learned is when companies, and you have great entrepreneurs and they’re buying projects and they buy these great projects, they’re looking to develop, but their mindset is, we’re going to sell this to a major. That’s their mindset.

Frank Curzio: And that’s all good. And companies and people have made livings doing that. But when you have a market in gold like it is right now, which is not that exciting. Now you’re sitting on that and it’s going to get destroyed because you’re not going to have a lot of news. You’ll have some drilling results here and there. But when you have an asset where you have someone like George Bee, that’s looking to develop this thing, He’s looking to make this a mine, or if the right price comes in for the shareholders, and we’ve seen the M&A, I mean, how important is it? To me, that was always a big deal now in junior miners, where we’re not just a management team that’s trying to build an asset and trying to get in and get out and do the same thing over and over again. There’s an asset you’re looking to develop, and to me that gives more credibility to, this is why I liked it so much. But I don’t know if that means so much to you, but maybe you can talk about George Bee a little bit because his history, his background, definitely one of the reasons why I recommend this stock to subscribes and why I’m an investor myself.

Ed Karr: Yeah. Without a doubt, Frank. And I like to say that George Bee is the Tom Brady of mining, because he’s a winner. He is a winner. Look, the guy’s been in the business for 42 years, 16 years of those with Barrett Gold as a very senior executive. And George has put some major mining projects all around this planet into production. He’s got the experience, he’s got the credibility. He knows what he’s doing. This is not some Vancouver promoter. I’m not trying to offend your Canadian listeners, but with a piece of moose pasture saying how great it is. George Bee has real street credibility. And he’s built projects, Frank, in south America, thousands of meters up in the Andes Mountains with hundreds of kilometers of roads, they had to bring in power. They had to build work camps.

Ed Karr: This is a relatively easy for a guy of George’s capability. And he knows that the time has come. So, when I reached out to George originally, Frank, it was spring of last year. And I brought in George as a consultant just to take a look. And when he fell in love with the project, he was semi-retired in Park City, Utah. George doesn’t have to work. He’s done extremely well in his life. He can just sit back and powder ski every day. But George was like, wow, Ed, look at this. At $1,850 gold today and almost four and a half dollars copper, this is a big money maker. And I said, “George, God bless here’s the keys. You are now the president and CEO. I am than happy as a significant shareholder to take a backseat, to have someone of your stature, credibility, push this project forward.”

Ed Karr: And Frank, I don’t think the market really understands or appreciates how fast George is moving this project towards production. He’s already got meetings with big major EPC companies, engineering companies. We’re looking at schematics. The study that’s going to come out, this PFS, it is not a lot of companies will do what I call a PFS lite, pre-feasibility study lite. You can buy some mining software and do a study just on a computer. Well, George has done real engine on the mill. He’s contracted with a group out of Chile called Alchemia. He’s worked with them in his past. They’re fantastic engineers. They’ve already designed the mill. We’ve got an easement for the land from the surrounding landowner. We’ve had multiple, multiple meetings up in Wyoming engaging with the local stake holders, letting them all know what’s going on, the state regulators.

Ed Karr: We’re in the position to file the mine plan permit early part of next year with capturing all of the environmental baseline data. George fully intends to push this project forward to production. And when you see the PFS, everyone’s going to see this mine plan, this is going to show a 100,000 ounce gold equivalent production per year for probably 10- to 11-year life of mine. That is a really, really nice project. I don’t know what the all in sustaining cost is, but I guess it will be under a thousand dollars an ounce. So this will be a big money maker for the shareholders of US Gold Corp. Our market cap and our share structure is so tight that as this gets into production, starts throwing off really nice cash flow, this company could pay a very significant potential dividend in the future.

Frank Curzio: Nah, it’s all great stuff. And I wish you guys luck again. I’ve been there to that project that I saw personally, and I know you guys very, very well, the management team. So again, there’s always risk to every investment and if you have a bad market within gold, I don’t think anything’s going up, doesn’t matter. But you realize they say what’s the most important thing in mining in buying a company’s management, it’s actually the market, because I have companies with great management teams and great assets, if the market doesn’t go in your favor, I saw that with uranium, riding these things down 30, 40%. They’re up three, 400% now, but I’m talking about 3, 4, 5 years riding that train. So, if we do get a market, then you’re going to see the cream rise to the top if we see a positive market with gold. And it seems like you guys are in great position for that. So, I appreciate that.

Frank Curzio: Now before you go, I want to ask you, because I know you have a love for Bitcoin and I know you have a love for cryptos and DeFi and the trends within this industry. What do you see in this industry, we’re starting to see it in lots of adoptions from banks, from institutions, but where do you see it going? I’m not talking about next couple months or stupid predictions, but maybe like two, three years. I mean, is this going to change the landscape of finance? We’re seeing the Metaverse is going to go through crypto, NFTs are more than just paintings. It’s non-fungible tokens, security token industry starting to take off now. There’s just so many trends within crypto, I think, that are just beginning, but I want to get your thoughts on it. Are you like more excited than ever? Are you saying, hey, I made money on Bitcoin. I’m pulling some off the table. Do you see more innovation coming and things that have you excited?

Ed Karr: Yeah. I think that it’s an extremely exciting time period for the crypto industry, Frank. And what we’re seeing now, you know, the last big run 2017 in crypto, boom, then the market go goes up pretty significantly. And then it sold off 90%. And we had the crypto winter, which set up actually the next bull market, which we’re at today, over 68,000 all-time high on Bitcoin. I think this is even more exciting because the cryptocurrency industry right now has a three plus million dollar market cap. So, this is not just a bunch of millennials speculating in their parents’ basement, drinking Red Bull while they’re not playing on Fortnite. I mean, this is real institutions. This is real innovation. This is real big hedge funds. This is even money center banks, central banks, government getting in on the issue.

Ed Karr: So, crypto is becoming institutionalized around the planet. It’s becoming 100% adopted and appreciated by everyone out there and people aren’t dumb. they are not. Jerome Powell can sit there and tell us all the lies he wants that inflation is transitory. And anyone that owns Bitcoin would call bullshit on that. We believe that inflation’s probably here for quite a while and we see what’s happening on all the central bank money printing. It’s catastrophic. We’re seeing the effects in cryptocurrency. I think that they certainly are at a point where they’re going parabolic, technically. I think we’re going to get an even more upside between now and the end of the year, and then we’re going to get a pullback. But I don’t think, Frank, it’s going to be like the crypto winter again. I don’t think this industry goes down 90%.

Ed Karr: You might get a 30%, 40% pullback. It’s not going to be a 90%. It’s too adopted. It’s too institutionalized and going towards everything right now. And you look at some of these projects that are happening. You mentioned decentralized finance. I mean, even a company like you, Frank, and your STO, Curzio Equity Owners, fantastic. You go out and you raise money through this alternative route. You’re going to list your token on tZERO, one of the most liquid exchanges out there, pays a dividend, token will trade probably extremely well. And I think it’s just amazing these innovations that we’re going to see, not just in NFTs, in smart contracts, in blockchain application and technologies. It’s a paradigm shift that, in my opinion, has the potential to be as big as the whole internet. And we know how that’s changed the entire world. So, we’re probably in the second inning of a nine inning ball game. Hold on, because it’s going to be exciting in the next two to three years.

Frank Curzio: No, that sounds great. You can tell how excited you are, definitely can tell how excited you are. This is a trend that you’ve been into a very long time. And I love, guys like Frank Holmes, yourself, they come on. Both of you, you talk about you can’t own both, guys. It’s not this big fight, especially through Twitter where you’re an idiot if you own Bitcoin and you’re an idiot, if you own gold, you don’t have to pick and choose. Both of these things seem like they’re going to be good investments. Bitcoin, obviously it’s leading that right now, but you’ve seen that move up in gold prices right now. And a lot of it, I think, has to do with infrastructure, that bill just passed. So, it’d be interested to see how high gold goes into next year.

Ed Karr: You know, Frank, good portfolio advice, when you look at it for people out there wondering, should I go into crypto? Should I go into gold? I mean, just some general allocations. I think someone having, depending on your age and your risk tolerance, but, and again, I’m not a financial advisor, this is just what I kind of do for myself. Look, if I want to think about having 10% of my net worth in crypto, 10% of my net worth in actual physical gold in case the world melts down, another 10% allocated towards junior gold stocks. And then I get 70% to put into the blue chip companies and tech stocks and other things like that. And if crypto really runs, I got to rebalance from time to time, take some profits off the table to, sell little Bitcoin, sell little Ethereum. And maybe I deploy those profits to gold because it’s a pretty good value right here. And if I keep some of those benchmarks, whatever worked for you, I think, long-term, you’ll have a real shot at some significant wealth creation.

Frank Curzio: Yeah. That’s great advice. It is great advice. Just to rebalance the portfolio, even if the stock part of it going higher and real estate, if you’re investing in all lots of classes are pretty much at all-time highs here. And just rebalancing, yeah, it makes a lot of sense. So, if someone wants to know more about US Gold or more about you, how could they do that?

Ed Karr: Yeah, Frank, website’s by far the best way. That’s www.us goldcorp.gold. So, we got gold in there twice. Check out the website. You can send an email to management. We love to get on telephone calls with interested investors, shareholders anytime. If anyone wants to get deep in the weed, technically talk about metallurgy, mine engineering, anything like that. Love to set up those calls with George Bee or our VP, Kevin Francis. Just reach out, watch the company, next couple weeks that PFS coming out could be a pretty good catalyst. And again, just the first stage in some real value creation over the next 18 to 24 months.

Frank Curzio: Definitely call Ed about the metallurgy and all that technical and yeah, no. They’ll call you about that, not me. I’ll talk about the fundamentals of the stocks, so that’s awesome advice. Ed, as always, you’ve been a guest on this show many times, you’re a friend. Hopefully, we get together pretty soon, but I appreciate you coming on and I know you join us again soon. Thanks, man.

Ed Karr: I really appreciate it, Frank. Thanks so much.

Frank Curzio: All right. Great stuff from Ed. I really like USAU. I love the management team. I love the asset. I love where it’s located in Wyoming. I saw this asset personally. But what I love the most is what I mentioned towards the end of that interview is that they’re looking to develop this. And meeting George Bee, he is a no-nonsense, very serious guy, who’s cool, to the point. And it’s refreshing because you see so many promoters and you got to buy this. He’s not like that, right? He’s like, I’m developing this thing. This is what I do, I have done it 40 years. But going there and seeing how they’re structuring this company for success. And what do I mean by that? I meant they were able to get someone of importance, who I took that trip with. I won’t mention his name. I mention his name, some of you may be familiar with it, but I don’t want to mention it here.

Frank Curzio: Very high profile person who actually, when I went down and met with the governor of Wyoming and talked about this project, but more importantly, which something I really love, which you don’t see, there’s two families that own almost all the property around this project. And a lot of times these families really get screwed. You have these assholes that are just going to have this big mine and develop it and they’ll tear up the land. And even when it gets developed, it’s kind of like oil royalties and everything, they’re going to give you a crappy deal. And when I was there, they met with the two families and said, look, I know you guys got screwed, but if this works out, everything’s going to work out and everyone’s going to make money off of this. And it was refreshing for those families to hear.

Frank Curzio: And it wasn’t just one or two people. It was like five from each family that came over, and they’re kind of like not the best of friends, but it was a great business like dinner. I was in the restaurant with them, but I said, hey, this is between you and the management team. I’m going to go over here with someone else and hang out and eat separately. But just to see the whole process of like, we got something really good here. We’re going to develop it. It’s not just going to be produced so we could sell to somebody else or whatever. It’s being significantly undervalued. You got a lot of catalyst up with this company. I think it’s significantly undervalued. To me that attracted to someone that actually went there and saw it and saw the asset.

Frank Curzio: I picked up gold off the ground. It was unbelievable. It was great. With that said, a lot of people buy this and you might say, wow, this thing looks really good. If gold doesn’t go higher from here, it’s not going to be a good investment. So don’t go crazy. These are junior miners. He brought up good case for uranium. I held on to uranium for a long time. Some of these things we stopped out of. It was 12 years, 13. Uranium was garbage. Nobody wanted it at all. I outlasted it and stayed. And I at a lot of private placements and things like that, where I had five year warrants and after three and a half years, you kind of forget about it. The next thing you know, these stock go up tremendously.

Frank Curzio: And a lot of these things are cyclical. And if you see gold come back into favor, which it looks like it is right now. I’m not just talking about a little two month trend here. It’s over 1800. No one’s really talking about it, and a lot has to do with even more inflation. It’s not transitory. They just released the infrastructure bills, so we’re going to see wild, wild inflation. And Bitcoin’s getting to the levels where people are like, whoa, holy cow, approaching 70K now. And they’re looking for alternatives and gold is one of those alternatives. So yeah, if you see gold prices go higher, this thing’s going to skyrocket. And I love the upside here. With that said, could it go, oh, absolutely. So you don’t go crazy. Put speculative money in here, if you’re interested, if not, it’s perfectly fine. I just don’t want to ever have a CO come on here or anything, just highlight, this is the greatest thing ever without risk. There’s risks, and we talked about that. I mean, it’s always the market.

Frank Curzio: If the market within a particular sector, if it’s not good, I don’t care who you are, I don’t care who you know, I don’t care the asset, I don’t care the catalyst, if the market is out of favor, that stock is going down. It might not go down as much as the garbage in the industry, but it’s going down. Just like Bitcoin, when Bitcoin declines, all the garbage goes down. Bitcoin goes up, a lot of the stuff goes up along with it, all the shit coins. I think gold’s going to come back into favor. This is one of the names I really like, been following for a long time. I know management, I’m friends with them and I’m not recommending this because they’re my friends, but I’ve done a due diligence on this. And I think it’s a really great opportunity. It’s taken a little longer than expected. We thought we’d get the original study, the pre-feasibility study. I thought we were going to get it three months ago, then two months ago and they pushed it out. Now, it’s a couple weeks away. And it’s not their fault. It’s not like, hey, we got a study and we don’t like it. And we’re going to go back to the market.

Frank Curzio: It’s that there’s delays in that, which is frustrating. But once this comes out, that’s just one small catalyst where you’re going to see a lot of institutions come in, you’re going to see this thing get re-rated. And I think that there’s huge, huge upside for this name. A lot of upsides. So again, I’ve been through junior miners where some of these things are terrible at this price. I think you have, I don’t want to say no downside risk. You always have downside risk, but just the risk reward is very, very, very favorable, extremely favorable because you’re looking at gold, the market coming back into favor and plus these guys are coming out with a lot of catalysts and that’s what I like to see. So again, be cautious if you’re investing it, it is a speculative name. I don’t want you to go all in. This is the greatest thing ever, but if you do decide to invest it put a little bit in it, maybe slowly scale into it because I think long term, if you have a two year outlook, just 24-month outlook, I think you’d be pretty happy with this one.

Frank Curzio: So guys, look, that’s it. For me, we are launching our first new service in a very, very long time, Big Money Trader. This is Luke Downey’s service, brand new product from off his Big Money Report, which I know a lot of you, a lot of you have subscribed to and very, very happy. Performance is really great in it. I’m not going to say every single stock is up. It’s got like two losers, like eight or nine are higher and doing great.

Frank Curzio: I talked about this a week ago with him, just some of the names in that portfolio. You’re not going to see where his system’s following the big money or investing alongside of it. But these are names that a lot of people are afraid to get into. And I’ll use the word afraid, that kind of ignore the stocks that, the snowflakes, when it pulled back to 250, 275, and now it’s like 360. I mean, names that have huge momentum, but are seeing that massive growth potential and the earnings potential. Just, these are the names that continue to go higher and higher and higher in this market. It’s a growth market. We have low interest rates. It’s going to continue for a while. And Luke’s performance has been absolutely fantastic.

Frank Curzio: This isn’t just in his newsletter right now in The Big Money Report, but it’s been like that for a very, very long time where he was able to get into Netflix early, a lot of big names that you see in today and FAANG names very, very early and bringing that to the Curzio Research brand, I think is really, really important. I think that’s an element that we’re missing in terms of growth investing and it’s a way you can make a lot, a lot of money. And he’s doing it through simple option strategies, also just going long. And he explains all of that. He’s going to have this, toolbox that you’re in Big Money Trader of what you’re going to get with it. So, it’s a Big Money Trader guidebook, how to capitalize on mispriced stocks, educational videos. So, we’re going to start selling this next week at huge discounts, just like we did with Crypto Intelligence, which we want our best subscribers and people listen to us to get at the best price. We don’t want to pay the retail price that’s going to go to everyone outside who doesn’t listen to us. This is the first time. So, if you’re interested, fine, if not, no worries, but you’re going to see some promotional material on it.

Frank Curzio: You’re going to see a really cool video on it. And if you have questions or comments or want to learn more about Luke, you could just go to our site, curzioresearch.com, where he writes a lot of free content. You could even go to bigmoneyreport.com. There or curzioresearch.com, but you’ll see the free content. You’ll see what he writes. And you’re going to see how good of a market timer he is, which attracted me to him, which is why I hired him. So, I’m very happy to have him under the stable. I think this newsletter is going to do very well because anyone that bought The Big Money Report is probably going to upgrade to this because it’s putting option strategies on top of those stocks and even new recommendations, which is going to be a lot of fun.

Frank Curzio: So, if you’re interested, fine, if not, no worries. We get excited here because we’re a small company and we’re starting to launch lots of products, Curzio One members get all of our products and services for free going forward. And also you’ve seen this product because we launched beta versions for you and we’ve gotten some excellent, excellent feedback. So, we’re excited to launch again. Any questions, comments, even before you subscribe, make sure that you’re 100% on board. Don’t go in and go, wait. No, make sure if you have any questions, that’s what we’re here for. That’s where the relationship begins with us, when you buy one of our products and we have to show you, you’re paying us, we don’t get paid. We’re independent. We don’t get paid by anybody else. Nobody pays us to recommend their stock.

Frank Curzio: What our job is to do when you pay us is to make you money, provide great ideas and educate you, and find ways that we could do that. And if you have questions about that at all, we’re here for you, frank@curzioresearch.com. But really excited times, more products coming. Again, thanks to you, thanks for all support, really growing this company and hiring more people. So lot, lot of fun and looking forward to that launch, which is coming out next week. So guys, that’s it for me. I really appreciate all the support. And as always, I’ll see you next week. Take care.

Announcer: Wall Street Unplugged is produced by Curzio Research, one of the most respected financial media companies in the industry. The information presented on Wall Street Unplugged is the opinion of its host and guests. You should not base your investment decisions solely on this broadcast. Remember, it’s your money and your responsibility.

Frank Curzio
Frank Curzio, founder and CEO of Curzio Research, is one of America’s most respected stock experts. His research is regularly featured on media outlets like CNBC’s Kudlow Report, The Call, CNN Radio, ABC News, and Fox Business News. His Wall Street Unplugged podcast—ranked the No. 1 “most listened-to” financial podcast on iTunes—has been downloaded over 12 million times.

Editor’s note:

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