Investing News Network
- Top 5 Canadian Mining Stocks This Week: Giant Mining Gains 70 Percent (2026-02-06)
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
Statistics Canada released January’s jobs report on Friday (February 6). The data showed that the Canadian workforce shrank by 25,000, or 0.1 percent.
Manufacturing experienced the largest decline, losing 28,000 workers, followed by education with 24,000, and the public sector, which decreased by 10,000. These declines were balanced by increases of 17,000 across information, culture, and recreation; 14,000 in business, building and support services; and 11,000 in agriculture.
Despite the declines, the unemployment rate fell 0.3 percentage points to 6.5 percent. While the rate was the lowest since September 2024, the agency notes that the decrease was driven by fewer people looking for work through the month, and coincided with a 0.4 percent drop in the labor force participation rate, which came in at 65 percent.
The release came just a day after the US Bureau of Labor Statistics (BLS) released its job opening report on Thursday (February 5) that showed that labor demand had decreased to its lowest level since September 2020, as December’s figures fell by 386,000 openings.
The report differs from the employment situation summary, which is typically released on the first Friday of each month. The report has been delayed due to the extended US government shutdown in late 2025 and will be released next Wednesday, February 11.
Employment data is an important metric for assessing the overall health of the Canadian and US economies and plays a significant role in helping central banks set interest rate policy.
For more on what’s moving markets this week, check out our top market news round-up.
Markets and commodities react
Canadian equity markets were mixed this week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 1 percent over the week to close Friday at 32,470.98, while the S&P/TSX Venture Composite Index (INDEXTSI:JX) shed 5.38 percent to 1,015.34. The CSE Composite Index (CSE:CSECOMP) dropped 1.22 percent to 167.56.
The gold price gained 4.84 percent to close at US$4,951.69 per ounce on Friday at 4:00 p.m. EST. The silver price didn’t fare as well, closing the week down 1.78 percent at US$77.32 on Friday.
In base metals, the Comex copper price recorded a 0.85 percent rise this week to US$5.93.
On the other hand, the S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) was down 3.7 percent to end Friday at 587.55.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Giant Mining (CSE:BFG)
Weekly gain: 69.57 percent
Market cap: C$27.51 million
Share price: C$0.39Giant Mining is an exploration company working to advance its Majuba Hill District copper, silver and gold project north of Reno in Nevada, US.
The site consists of 403 federal lode mining claims and four private property parcels that cover an area of 3,919 hectares. Mining at the property took place between 1900 and 1950, resulting in the production of 2.8 million pounds of copper, 184,000 ounces of silver and 5,800 ounces of gold.
Extensive exploration work has been carried out at Majuba Hill, with 89,930 feet being drilled since 2007.
The most recent news from Giant came on January 30, when it reported that it planned to drill up to 10,000 feet in a multi-phase drill program at Majuba Hill, targeting three breccia zones.
Following the first phase of 5,000 feet of drilling, the program will include underground and surface sampling to support follow-up drill targeting for the remaining holes.
2. CGX Energy (TSXV:OYL)
Weekly gain: 64.71 percent
Market cap: C$66.02 million
Share price: C$0.28CGX Energy is an oil and gas exploration company with 27.48 percent ownership of a portfolio of wells in the Corentyne block off the coast of Guyana. Frontera Energy (TSX:FEC) is the company's joint venture partner in the Corentyne block and also holds 76.05 percent interest in CGX.
The Kawa-1 exploration well was drilled in 2021 and 2022 and encountered an active hydrocarbon system extending to a depth of 6,000 feet, mirroring trends in the Guyana-Suriname Basin. CGX’s Wei-1 well was drilled in late 2022 and is located on-trend between the Kawa-1 well and Exxon's (NYSE:XOM) Pluma discovery.
CGX and Frontera are currently in a legal dispute with the government of Guyana, which believes the petroleum prospecting license for Corentyne expired in 2024, a stance the joint venture disagrees with. The most recent update on the matter mentioned plans to meet and discuss the situation, with potential dates in November or December of last year.
Shares in CGX posted gains this week, but the company has not released news since November 13, when it announced its third-quarter financial statements. However, Frontera announced on January 30 that it divested its producing Colombian assets while retaining its interests in Guyana, news that may signal that the Corentyne block permitting situation could still be resolved.
3. Saba Energy (TSXV:SABA)
Weekly gain: 61.11 percent
Market cap: C$12.07 million
Share price: C$0.29Saba Energy is an oil and gas exploration company with operations in British Columbia, Canada, as well as the Philippines.
The company’s primary Canadian operations consist of the producing Boundary Lake and Laprise oil and gas fields, which have a net present value of C$43 million as of its September quarterly report.
The most recent news from Saba came on January 27, when it announced a heads-of-agreement with Nido Petroleum for a farm-in arrangement on a pair of offshore assets in the Philippines.
Saba will earn 60 percent of Service Contract 54 (SC54). SC54 covers an area of 550 square kilometers to depths of 50 to 110 meters and hosts three discovery wells and one production well, which previously produced 270,000 barrels at 19,000 barrels per day before it was closed due to water encroachment.
The company will also earn a 52.73 percent share in the DPPSC Cadlao, which covers an area of 914 square kilometers to depths of 93 meters. The site has 6.8 million barrels in reserves and produced 11.1 million barrels between 1982 and 1992.
If the transaction is completed, Saba will become the operator of both assets. The company plans to open a US$7.5 million convertible debenture private placement to achieve the requirement of raising US$7 million by mid-April.
4. Copper Giant Resources (TSXV:CGNT)
Weekly gain: 60.66 percent
Market cap: C$157.77 million
Share price: C$0.98Copper Giant Resources is an exploration company advancing its Mocoa copper-molybdenum project in Southern Colombia. It changed its name from Libero Copper and Gold last year.
The property covers 1,324 square kilometers and hosts a copper porphyry system originally discovered in 1973.
A November 2025 mineral resource estimate significantly increased its resource. Mocoa now holds an inferred resource of 7.6 billion pounds of copper and 1 billion pounds of molybdenum, at 0.31 percent copper and 0.039 percent molybdenum, from 1.12 billion metric tons of ore. The upgrade made the project South America's largest undeveloped molybdenum deposit.
The most recent news from Copper Giant came on January 29, when it reported results from the first drill hole at the La Estrella target. While assays returned low-grade mineralization, the company noted that the significance was geological, as it confirmed continuity of the porphyry system beyond the established deposit.
The release also reported results from a second hole at the southern edge of the Mocoa footprint, which the company said were stronger than previously interpreted at the southern margin of the deposits. Grades in the hole were 0.13 percent copper and 0.01 percent molybdenum over 804 meters starting from surface, which included an intersection of 0.44 percent copper and 0.05 percent molybdenum over 33 meters.
5. Benz Mining (TSXV:BZ)
Weekly gain: 50.46 percent
Market cap: C$749.9 million
Share price: C$3.25Benz Mining is a gold exploration company that is focused on advancing projects in Québec, Canada, as well as Western Australia.
Its Eastmain project consists of an 8,000 hectare property located in Central Québec within the Upper Eastmain Greenstone belt. The most recent resource estimate from May 2023 reported an indicated resource of 384,000 ounces of gold from 1.3 metric tons of ore grading 9 g/t gold, and an inferred resource of 621,000 ounces of gold from 3.8 metric tons grading 5.1 g/t.
In 2025, Benz acquired the Glenburgh and Mount Egerton gold projects in Western Australia from Spartan Resources (ASX:SPR). It spent much of 2025 exploring Glenburgh, which covers an area of 786 square kilometers and features 50 kilometers of strike. The site hosts six priority extension targets and 5 kilometers of exploration trend with over 100 parts per billion gold.
A November 2024 resource estimate for Glenburgh showed an indicated and inferred resource of 510,000 ounces of gold from 16.3 million metric tons of ore with an average grade of 1 g/t gold.
On January 28, the company announced a shallow, high-grade discovery at the Glenburgh project's Icon trend. Assays returned grades including 29 g/t gold over 13 meters starting at a depth of 60 meters. Additionally, results showed wide mineralization as well, including 200 meters grading 1 g/t gold starting at 76 meters.
The most recent news from Benz came the next day, when it announced it received firm commitments for a AU$75 million bought deal placement, which it said was led by strong demand from two global institutional fund. The company said the investment increases its pro forma cash position to AU$94 million, which will be allocated across its portfolio, particularly focused on the Glenburgh project.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of December 2025, 898 mining companies and 71 oil and gas companies are listed on the TSXV, combining for more than 60 percent of the 1,531 total companies listed on the exchange.
As for the TSX, it is home to 175 mining companies and 51 oil and gas companies. The exchange has 2,089 companies listed on it in total.
Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
- Editor's Picks: Is Gold and Silver's Price Correction Over? (2026-02-06)
It's been a wild couple of weeks for gold and silver.
After surging to record highs at the end of January, prices for both precious metals saw significant corrections, creating turmoil for market participants.
This week brought some relief, with gold bouncing back from its low point and even trading above US$5,000 per ounce for a brief period of time.
Silver, which is known for outperforming gold on both the upside and the downside, was more volatile, but seems to have found support around the US$70 per ounce level.
Why did gold and silver drop, and more importantly, what's next? As always, there are a variety of different factors at play, but I'll give you a rundown of what I've been hearing.
Starting with the pullback, I spoke with Joe Cavatoni of the World Gold Council, who pointed to speculative players as a key reason for gold's price decline. Here's how he explained it:
"At the end of this, you're looking at a lot of people who were pushing the price higher — speculative in nature — pulling back and taking money off the table. That's why I think we're seeing a correction in the price. I don't think that we have an issue with, fundamentally, what's going on in the gold market."
Gary Savage of the Smart Money Tracker newsletter made a similar comment, saying that there are times when sentiment gets so bullish that eventually there's no one left to buy.
However, on the silver side he saw signs of market manipulation as well:
"Some of it is just (that) we got way too bullish, ran out of buyers. We were due for some kind of correction anyway, and I think the banks took advantage of that and coordinated a huge overnight attack that dropped silver ... I think it was almost 30 percent, or maybe it was 30 percent, almost overnight. That allowed them to get out of their shorts, because a lot of those contracts were going to stand for delivery, and they were going to have to buy physical silver at US$120 an ounce to to deliver."
Adding more nuance to the silver story this week was the news that billionaire Chinese trader Bian Ximing has reportedly established the largest net short position on the Shanghai Futures Exchange, with his bet against the white metal clocking in at US$300 million.
Bloomberg analysis of exchange data shows he started "ramping up silver shorts" in the last week of January, although he initially began shifting from a long silver stance this past November.
Aside from silver, Bian is known for his moves in gold and copper.
There's also been commentary suggesting that the nomination of Kevin Warsh for the US Federal Reserve chair position has weighed on gold and silver prices.
President Donald Trump announced his choice on January 30, with market watchers quickly pointing to Warsh's hawkish reputation and questioning whether he will fall in line with Trump's calls for lower interest rates. Rates have been a sticking point between Trump and current Fed Chair Jerome Powell.
However, in the days since the news broke, the tone has shifted, with Trump himself saying that Warsh wouldn't have gotten the job if he said he wanted to raise rates.
Taking a step back from what's happening now, I want to emphasize that the majority of the experts I've been speaking with recently don't believe gold and silver are topping.
In a January 25 interview, Adrian Day of Adrian Day Asset Management said exactly that, pointing to previous bull markets where both metals moved steeply down before continuing up. This quote is from before last week's correction, but I think you'll see why it's still relevant:
"A pullback is always in the cards. And people forget, everybody talks about ... 1974 to 1975, when gold dropped almost 50 percent. But people forget, the same thing happened in 2006. Halfway through the bull market, you had a 30 percent correction in gold, which of course means a much bigger correction for gold stocks.
"So a pullback at some point is always not just a possibility, but it's almost a certainty. But if we rephrase the question to, 'Is this a top?' You know, absolutely not. In my view, we are absolutely nowhere near a top."
With that said, a point that's come up repeatedly in my interviews lately is personalization — while it's valuable to listen to other people's views, what's really important is to form your own opinions and understand why you own the assets in your portfolio. If you can do that, you'll be better equipped to weather any storms, and to buy and sell when it's time.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
- Tech Weekly: Chip Stocks Pop to Close Volatile Trading Week (2026-02-06)
Welcome to the Investing News Network's weekly brief on tech news and tech stocks driving the market.
We also break down next week's catalysts to watch to help you prepare for the week ahead.
In this article:
- This week's tech sector performance
- 3 tech stocks moving markets this week
- Top tech news of the week
- Tech ETF performance
- Tech catalysts to watch next week
This week's tech sector performance
Tech stocks extended their selloff into their second week, with the Nasdaq Composite (INDEXNASDAQ:.IXIC) posting its steepest two‑day decline since last April.
Monday (February 2) saw an early rotation out of tech ahead of Palantir Technologies (NASDAQ:PLTR) earnings report. NVIDIA (NASDAQ:NVDA) slipped on news that its proposed OpenAI‑backed investment hit a snag, dragging AI‑chip names like Advanced Micro Devices (NASDAQ:AMD), Broadcom (NASDAQ:AVGO) and other semiconductor leaders.
Palantir’s earnings, which beat expectations and included an aggressive revenue growth guide, lifted shares in an early surge on Tuesday (February 3); however, Nvidia’s OpenAI‑investment‑snag news, plus general AI‑disruption worries and positioning, weighed on the broader tech stack, sparking a tech‑growth selloff that impacted NVIDIA, Microsoft (NASDAQ:MSFT) and other software‑heavy names.
The Nasdaq fell deeper on Wednesday (February 4) as influential tech names such as AMD and other chip and software stocks reversed post‑earnings gains. AMD saw a sharp intraday plunge following its after‑hours earnings print on Tuesday. Its losses dragged the broader index lower.
Tech selloffs extended into Thursday (February 5), with the Nasdaq closing down 1.6 percent as major tech stocks saw profit‑taking and forward‑looking capex‑related concerns, later crystallized by Alphabet (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN) aggressive 2026 spending plans.
The Nasdaq made an impressive recovery on Friday (February 6) as a rally in chip stocks helped pare earlier week losses, despite ongoing volatility in the mega‑caps.
3 tech stocks moving markets this week
1.Teradyne (NASDAQ:TER)
After reporting Q4 2025 earnings results and strong AI-driven guidance on Monday, the stock rose sharply. The semiconductor‑test and robotics‑automation company makes equipment used to test chips, including AI‑related compute and memory and industrial robots.
2. Skyworks (NASDAQ:SWKS)
The analog and RF‑semiconductor company, which designs and manufactures components used in smartphones, 5G infrastructure, automotive and IoT devices, reported Q1 fiscal 2026 results on Tuesday, beating expectations and guiding up, which helped it outperform the broader tech selloff.
3. Apple (NASDAQ:AAPL)
Apple’s strong performance this week was driven by a wave of analyst upgrades and bullish notes that reinforced the positive narrative from last week’s record‑breaking Q1 print, especially around iPhone demand and China‑market strength.
Top tech news of the week
- Oracle (NYSE:ORCL) said it's raising US$45 billion to $50 billion in gross cash proceeds during 2026 to fund additional capacity for its largest Oracle Cloud Infrastructure customers' contracted demand.
- Canada led an AI delegation to the 2026 World Governments Summit (WGS) in Dubai this week, led by SCALE AI.
- Bloom Energy (NYSE: BE)reported Q4 2025 results after the market closed on Thursday, beating both earnings and revenue expectations. The stock rose sharply in after‑hours trading on very bullish 2026 guidance tied to AI data center demand; the company has secured major deals with Oracle, American Electric Power Company, Brookfield Asset Management (TSX:BAM,NYSE:BAM).
- Alphabet Q4 numbers were driven by search revenue growth, which accelerated by nearly 17 percent, and Google Cloud revenue that jumped 48 percent YoY, helping ease fears that AI chatbots would eat into search. Despite the strong print, the stock dipped as the company said it plans to increase capital expenditures to between US$175 billion and US$185 billion, more than its 2025 cash generation.
- Palantir’s earnings triggered a pop on Tuesday as it beat revenue expectations and laid out an aggressive 2026 growth guide. The company reported Q4 2025 revenue of US$1.41 billion, up 70 percentYoY, with US commercial revenue surging 137 percent and government revenue rising 66 percent, while guiding full‑year 2026 revenue to about US$7.2 billion
- Amazon also posted a solid quarter, but said it will spend roughly US$200 billion this year on capital expenditures, a 56 percent jump from 2025, to fund AI‑related infrastructure, data centers and custom chips for AWS. Revenue rose approximately 14 percent to US$213.4 billion, driven by AWS reaccelerating to 24 percent growth and advertising increasing by 22 percent, despite free cash flow collapsing due to a capex surge.
- Qualcomm (NASDAQ:QCOM) reported a mixed quarter, with AI-enabled mobile and automotive chip demand supporting revenue near expectations, but earnings missed. The company maintained focus on next-gen Snapdragon, automotive, and IoT expansion. However, the stock declined post-report due to general tech growth concerns.
Tech ETF performance
Tech exchange-traded funds (ETFs) track baskets of major tech stocks, meaning their performance helps investors gauge the overall performance of the niches they cover.
This week, the iShares Semiconductor ETF (NASDAQ:SOXX) advanced by 1.89 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) advanced by 1.66 percent.
The VanEck Semiconductor ETF (NASDAQ:SMH) also increased by 0.75 percent.
Tech news to watch next week
Next week is another earnings‑heavy, tech‑adjacent stretch, with a mix of big‑name reports and key macro data that will like keep markets sensitive to AI capex and earnings.
Coinbase (NASDAQ:COIN) and Robinhood Markets (NASDAQ:HOOD) will be among the most‑watched names tied to crypto and retail trading. Cisco (NASDAQ:CSCO) also reports midweek.
In addition to US wholesale inventories, Employment Cost Index and CPI reports, the FOMC minutes will be released on February 11, so rate policy and inflation will stay front‑of‑mind.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
- Crypto Market Update: Bitcoin Price Ends Week Higher Following Earlier Losses (2026-02-06)
Here's a quick recap of the crypto landscape for Friday (February 6) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin (BTC) was priced at US$70,178.66, up by 11.3 percent over 24 hours.
Despite Friday's gains, Bitcoin has fallen over 14 percent this week to lows below US$62,000.
Antonio Di Giacomo, senior market analyst at XS.com, told the Investing News Network that the cryptocurrency's sharp price decline confirms a structural shift from a market dominated by speculation and leverage to one focused on capital preservation and adjustment across risk assets.
Bitcoin has stopped behaving as an alternative safe-haven asset and has realigned with the risk asset cycle. Its high correlation with traditional financial markets, including a broad selloff in technology stocks, precious metals, and equities, suggests a scenario of systemic stress and scarce liquidity.
Downward pressure intensified after breaking key technical levels, causing nearly US$770 million in leveraged long positions to be liquidated in 24 hours, suggesting the market's "cleansing phase" is ongoing.
The decline was exacerbated by a strong dollar and rising bond yields, which reduced the appeal of non-yielding assets like cryptocurrencies, prompting a rotation into defensive assets.
In the short term, price action will be limited and vulnerable to renewed selling pressure as long as restrictive financial conditions and a defensive tone prevail in global markets. Stabilization requires an improvement in global financial conditions and Bitcoin's ability to rebuild solid technical support.
Ether (ETH) was priced at US$2,052.03, up by 10 percent over the last 24 hours.
Altcoin price update
- XRP (XRP) was priced at US$1.46, up by 25.2 over 24 hours.
- Solana (SOL) was trading at US$87.37, up by 10.4 percent over 24 hours.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
- After Major Gold Payout, Bian Ximing Turns Bearish Sights on Silver (2026-02-06)
A Chinese billionaire trader known for profiting from gold’s multi-year rally has turned sharply bearish on silver, building a short position now worth nearly US$300 million as prices slide.
Bian Ximing, who earned billions riding gold’s multi-year rally and later turned aggressively bullish on copper, is now positioned for a sharp reversal in silver—a bet that is already paying off as prices retreat from record highs.
According to exchange data analyzed by Bloomberg and people familiar with his positions, Bian has assembled the Shanghai Futures Exchange’s largest known net short position in silver, held through Zhongcai Futures Co.
The position, composed of roughly 30,000 contracts, or about 450 metric tons, has swung sharply into profit following silver’s more than 16 percent drop since late January.
The contrast with Bian’s copper strategy just a year ago could hardly be sharper.
In 2024, Bian emerged as China’s most prominent copper bull, building the largest net long position on the Shanghai Futures Exchange at a time when many traders were retreating amid trade tensions and growth concerns.
His thesis then centered on copper’s central role in electrification, grid expansion and industrial upgrading. That trade was built patiently and scaled over months, with Bian accumulating long positions across multiple contracts.
By the time copper prices surged, the position had generated hundreds of millions of dollars in gains.
Silver, by contrast, appears to have triggered Bian’s skepticism. While silver often trades alongside gold, its recent surge was increasingly viewed by market participants as driven by speculative positioning rather than fundamental shifts in industrial demand.
Unlike copper, where supply bottlenecks and electrification narratives were front and center, silver’s rally accelerated rapidly by drawing in leveraged traders and momentum funds.
Exchange data show that Bian began building silver shorts in the final week of January, as prices pushed into record territory in Shanghai. His exposure expanded quickly from about 18,000 contracts on January 28 to roughly 28,000 two days later, even as prices continued climbing.
The timing was costly at first, as volatility forced partial liquidations and earlier losses trimmed gains from prior silver longs.
However, Bian’s patience was rewarded when silver broke sharply lower.The short is now estimated to be worth roughly 2 billion yuan (US$288 million) in paper gains. After accounting for earlier losses, Bian’s net profit is estimated at around 1 billion yuan based on recent prices.
Whether the current selloff proves lasting remains an open question. Bian, who resides largely in Gibraltar and rarely speaks publicly, did not respond to requests for comment. Zhongcai Futures also declined to comment.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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