Portfolio Manager, Gold & Precious Metals, VanEck
4 dated public stances tracked since 2024-09-06, most recently 2024-09-06. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of Imaru Casanova's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Imaru Casanova is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances. “% correct” is the share of those scored calls whose direction-aware return was positive at the horizon — in a rising market a bullish call is correct by default, so read it beside the market, not alone.
Scored calls
Every tracked call with at least one matured horizon: the rows behind the Returns
line above. A dash is a horizon that has not matured yet.
| Date | Name | Call | 90d | 180d | 1y |
|---|
| 2024-09-06 | SILVER | bullish | +12.1% | +16.8% | +47.2% |
| 2024-09-06 | Gold Miners | bullish | +3.3% | +16.2% | +87.3% |
| 2024-09-06 | GOLD | bullish | +5.3% | +16.9% | +45.2% |
| 2024-09-06 | AGI | bullish | +7.7% | +34.9% | +81.7% |
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|
| AGI | 1 | | 1 bullish | 2024-09-06 |
| GOLD | 1 | | 1 bullish | 2024-09-06 |
| Gold Miners | 1 | | 1 bullish | 2024-09-06 |
| SILVER | 1 | | 1 bullish | 2024-09-06 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2024-09-06
GOLD
bullish
Forward Guidance · video
Central bank buying at record levels, Asian physical demand strong, and Western investment demand has been absent from the current rally — a return of ETF inflows alone could add ~$400/oz based on historical AUM peaks
“if we get both central banks and investors together this could be the perfect store for gold”
90d +5.3% · 180d +16.9% · 1y +45.2%
Gold Stocks Are Undervalued | Imaru Casanova (VanEck Fireside Chat #4)
2024-09-06
Gold Miners
bullish
Forward Guidance · video
Gold equities are pricing in roughly a 20% discount to spot gold ($2,500+) while all-in sustaining costs are contained near $1,400, implying record margins that the stocks have not yet reflected — GDX sits at the same level as when gold was $1,800–$1,900
“gold equities are discounting about a 20% discount to the current spot price”
90d +3.3% · 180d +16.2% · 1y +87.3%
Gold Stocks Are Undervalued | Imaru Casanova (VanEck Fireside Chat #4)
2024-09-06
AGI
bullish
Forward Guidance · video
Alamos Gold is an exemplar of disciplined capital allocation — the acquisition of Argonaut added adjacent infrastructure (Magino mine) to the Island Gold expansion, creating material synergies, while Canadian jurisdiction and a consistent track record of…
“Alamos is the perfect example of a company that we consider very well-run”
90d +7.7% · 180d +34.9% · 1y +81.7%
Gold Stocks Are Undervalued | Imaru Casanova (VanEck Fireside Chat #4)
2024-09-06
SILVER
bullish
Forward Guidance · video
The gold-to-silver ratio is ~85 vs a historical norm of ~65–70, implying silver is cheap relative to gold, while inelastic mine supply and secular growth in solar panel manufacturing — a major silver consumer — create an incremental demand tailwind that gold…
“silver has the potential to return to historical gold-to-silver ratios”
90d +12.1% · 180d +16.8% · 1y +47.2%
Gold Stocks Are Undervalued | Imaru Casanova (VanEck Fireside Chat #4)
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