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Silver rally stops TD Securities out of tactical short

Section: Daily Dispatches

By Neils Christensen
Kitco News, Montreal
Friday, December 2, 2022

After a dismal summer, the silver market appears to be making up for last ground as prices end the week at their highest level since June.

March silver futures have rallied more than 9% this past week, last trading at $23.40 an ounce. Silver is seeing its best weekly performance since August 2020. The week also caps silver's 22% gain since November.

... Dispatch continues below ...



Dolly Varden Silver Intersects 27.44 g/t Gold
and 463 g/t Silver over 9.16 Meters

Company Announcement
Tuesday, November 29, 2022

VANCOUVER, British Columbia, Canada -- Dolly Varden Silver Corp. (TSXV: DV , OTC: DOLLF) is pleased to announce drill results from the 100%-owned Homestake Ridge property in British Columbia's Golden Triangle. The objective of drilling during 2022 at the Homestake Main and Homestake Silver deposits was to expand multiple, subparallel mineralized zones and to upgrade inferred resources. ...

“Our 2022 drill program has truly been exceptional," Dolly Varden President and CEO Shawn Khunkhun said. "The recently acquired Homestake Ridge Deposit has delivered more high-grade gold and silver values, commonly with strong copper mineralization. These intercepts demonstrate strong continuity of mineralization over wide intervals, similar to the recently announced high-grade results at the Wolf and Kitsol deposits, located 6 kilometers to the south.  

"We eagerly anticipate additional assays from all of Dolly Varden's deposits, as well as new exploration targets drilled during the 2022 program.” ...

... For the remainder of the announcement:

TD Securities announced Thursday that it was stopped out of its tactical short silver position. The bank said it is booking a 14% loss after "an epic positioning squeeze contributed to a +25% rally from the October lows."

TD Securities was short silver as it expected that rising U.S. interest rates combined with the growing threat of a recession would significantly weigh on the precious metal. ...

... For the remainder of the report:

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