Yearn for the Mines

• SOL: Edge short trade idea with entry at 129.57 ran down to create a local low at 117.05 for a 9.6% unleveraged move to the downside.

• SOL: TP1 hit at $131.25 prior to the rest of the position stopping out at breakeven.

• LIF: +25% on the back of a strong Q4 trading update, which validated our high conviction long thesis.

• USAS: +47% for the week, as the squeeze in Silver prices saw the commodity trade above $100/oz for the first time ever. We are trimming 25% of our initial position and will look to take another 50% at $12.

• NXE: up ~30% over the last month and finally reached our initial $12 TP level after first gaining entry at $5.50 back in March (+218% spot return).

• IPX: Trading back to the same levels  (+22% 1W, +50% 1M) it reached prior to the October research report. Cutting 50% of our position size here.

• ERO: Taking 50% of position size here for a ~45% gain in 6 weeks on the back of a strong copper price.

• FCX: Taking 50% of position size here for a ~40% gain in 6 weeks on the back of a strong copper price.

• USAS: Trimming 25% of position size here with the stock trading +36% this week (+60% 1M) as the Silver price continues to go parabolic and broke the $100/oz level and now trades at ~$112/oz.

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