We are in the early stages of a commodities bull market,...gold, silver, copper, uranium, and REE. I like Joe Granville's OBV as an indicator of buyers/sellers. You can use a shorter time frame to see when it is turning up or is bottoming.
Liberty bottomed in Nov 2023 and OBV didn't turn up until Sept 2025 on heavy volume. It was the announcement of Sept 2025 about the Black Pine leach pile.
Highlights
Consistent Gold Extractions and Leach Performance: Weighted average column leach gold extraction of 81.9% at an average head grade of 0.65 parts per million (“ppm”) gold (“Au”), with individual composites ranging from 52% to 94.5%. Phase 5B composites exhibit the typical Black Pine leach result of greater than 80% of the eventual gold extraction achieved in under 10 days. The feasibility recovery model has been updated with these new results and shows gold recoveries in line or slightly better than previous results across Rangefront and Discovery Zones. Corroborated Bottle Roll Data: Gold extractions from direct leach coarse crush bottle rolls (P80 of 1.68 millimeters (“mm”)) are aligned with column leach results (P80 of 16.9mm) at 78.4% vs 81.9%, respectively. This relationship further validates that gold leaching at Back Pine is highly insensitive to crush size. Confirmation of Recovery in Primary Mining Phases: Phase 5B testing focused on infill sampling within the primary mining phases of Rangefront and Discovery Zones. Feasibility level metallurgical work will be completed in H1, 2026. It is anticipated that with resource growth at Rangefront, additional test work may be required to achieve variability coverage.
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