Staying the Course: Gold, Silver, Valuations — and a New Weight-Loss Pill by NVO

   

Market Talk 

So here we are, closing in on the end of the year and contemplating what may lie ahead. The major stock indices have been anything but calm of late, with renewed volatility following cautionary comments from Oracle regarding overall spending on AI-related buildouts and plans.

Many AI-linked tech stocks suffered sharp corrections, taking share-price hits that shook confidence and broke more than a few spirits. More recently, some of those same names rebounded after memory-chip maker Micron Technology delivered a strong earnings report, pulling sentiment back toward the AI trade.

Still, the larger debate remains unresolved: are we dealing with a developing bubble, or simply early innings of long-term growth? Increasingly, pundits and investment houses are questioning whether optimism has already been fully priced in. At the same time, the enormous energy demands of planned data-center expansion are being scrutinized—and in some cases quietly challenged—by lending institutions.

For today, the bounce in select leaders such as NVIDIA may seem justified. For tomorrow? Still plausible—at least for now.

While we’ve seen some impressive gains in several stocks highlighted here in the Jones Report, markets have a way of catching up. After early potential is recognized and rewarded, stocks often enter what we’ll coin right here as an “evaluation on valuation” phase—where price, not story, becomes the central question.

Meanwhile, the two long-standing mainstays—gold miner Kinross Gold (KGC) and silver producer Hecla Mining (HL)—continue to do what they’ve always done: remain grounded in tangible value.

That doesn’t mean there aren’t trading opportunities elsewhere. There often are. But when valuations begin to outrun fundamentals, stocks inevitably drift from investing toward speculation. That may work for traders—until it doesn’t. The caution is simple: don’t marry stocks that can’t stand up to a basic checklist of real earnings and credible growth.

So far, KGC and HL continue to check those boxes. Many others do not. In a dicey world, if you’re going to dabble, staying nimble may be the most prudent way to operate.

Stock Talk 

After reaffirming KGC and HL as core holdings, where do we go from here?

There’s a wide spectrum of opportunity—ranging from established growth names to higher-risk speculation. Names like Oncolytics Biotech (ONCY) still belong firmly in the “maybe some, but not too much” category: interesting science, real optionality, but patience and position sizing remain key.

That said, it’s worth discussing a new opportunity that’s caught the market’s attention.

Novo Nordisk recently received FDA approval for the first oral GLP-1 receptor agonist for chronic weight management in adults with obesity or overweight conditions—an oral version of its blockbuster Wegovy franchise.

This is not a tweak. It’s a meaningful shift.

What’s been approved?

A once-daily oral semaglutide 25 mg pill, approved by the U.S. Food and Drug Administration for long-term weight management.

Why it matters:
This is the first oral GLP-1 weight-loss therapy available in the U.S., offering a compelling alternative for patients who prefer not to use injections.

Effectiveness:
Clinical data showed average weight loss in the mid-teens (%) over roughly 15 months—far exceeding placebo results.

Timing:
Novo expects a U.S. launch in early 2026.

Cost & access:

Early indications suggest pricing materially below many injectable options, potentially broadening access and adoption.

At the time of writing, NVO is trading in the low-$50s, rebounding sharply on the news. This isn’t a penny stock story or a moonshot—it’s a blue-chip pharma expanding an already dominant franchise. For investors looking to balance innovation with earnings power, NVO deserves a hard look.

As for jumping on that pill? Well, maybe try cutting the white bread for a while—and decide later.

Staying Nimble — and Keeping Dry Powder

Markets continue to swing between AI enthusiasm, resource strength, and defensive positioning. Some weeks it’s tech. Some weeks it’s metals. Opportunity tends to favor those who stay flexible.

When headlines get louder and price swings widen, having room to maneuver can matter more than making the perfect call. Core holdings anchored in fundamentals, selective exposure to growth, and disciplined sizing on speculation—that mix may prove especially valuable in the year ahead.

As always, stay sharp, stay selective, and stay nimble.

— Jones Report

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If interested - scroll back and view notes on other stocks, we watch here at the Jones report.  Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions.  Finally - maintain some dry powder and trade or invest according to your own due diligence.

______________

More later so ....Stay tuned, if you dare!

For now, we close by noting that any view on the market and stocks on any particular day may change in the days to come. That is why we watch and see how our views match up with reality.  Looking ahead a few months may be a way to do things - but thinking too deeply about world events and the recent alliances forming, can make projecting ahead a dicey endeavor. 

All in all - we use the word maybe "some", not "too much" and play it accordingly.  Never get arrogant in our notions because things do change - and individual stocks are subject to many factors outside our control. So, we try to -stay aware.

With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.

___________

ALL in my humble opinion, scroll down and read more.This site does NOT make Buy / Sell recommendations.
________

Jones Market Notes and Special Sunday Edition — Revisited: The Complacent Cancer Empire

    

Market Talk

The recent week was a tumultuous one for many that don’t read this Jones report. For example, many tech stocks related to AI and others suffered a severe correction, taking share-price hits that shook confidence and broke some spirits. Meanwhile, the two mainstays presented here in the Jones report did just fine and dandy. If you have not followed these, scroll back a few posts and check it out — enough said. That’s the way we roll.

Looking forward, some of the same tech stocks recovered after memory company Micron produced a fine earnings report, leading sentiment back toward the AI trade. However, the debate over whether AI is in bubble territory versus long-term growth remains active. Many pundits and investment houses are now questioning valuations and whether optimism has already been fully priced in.

At the same time, the massive energy demands of all these planned data centers are being questioned and, in some cases, quietly challenged by lending institutions.

Market Note Reminder

Looking back over the past year here, we’ve enjoyed some pretty remarkable gains — in a few cases, five-baggers or better. A few stocks first discussed in the teens ran well north of $100 before fading back to more moderate ranges. Those moves may still present trading opportunities. But when fundamentals fail to keep pace with the story, price action can remain volatile — and if valuations stretch too far, downside risk can accelerate quickly.

That doesn’t mean there aren’t trading opportunities in those names. There often are. But when valuations begin to outrun fundamentals, stocks inevitably move from investing toward speculation. That may work for traders — until it doesn’t. The caution here is simple: don’t marry stocks that can’t stand up to a basic fundamental checklist of real earnings and credible growth.

So far, the two mainstays highlighted here — KGC and HL — continue to check those boxes. Many others do not. In a dicey world, if you’re going to dabble, staying nimble may be the most prudent way to trade going forward.

If interested, stay tuned for further Jones trading and investing notions on additional stocks.  That said, the October 5th edition titled “The Complacent Cancer Empire” is worth revisiting. This is not a reprint — it’s a reminder. The same structural dynamic still exists, and the same spark has yet to be embraced.

Special Sunday Edition

The Complacent Cancer Empire

How Big Pharma Keeps Missing the Breakthrough Sitting in Plain Sight
— and the perils born of complacency and profit while a breakthrough from nature — and maybe Providence — continues to be pushed aside.

Some say Providence moves in mysterious ways. Maybe this time, it’s through an ancient virus that refuses to quit — one that nature left waiting for us to recognize. When medicine becomes too comfortable, progress dies quietly. But sometimes, a spark from nature lights a fire that no empire can suppress.

The Illusion of Progress

Checkpoint inhibitors (CIs) have become a hundred-billion-dollar cash cow for Big Pharma — Merck (Keytruda), Bristol Myers Squibb (Opdivo, Yervoy), Roche/Genentech (Tecentriq), AstraZeneca (Imfinzi, Imjudo), Pfizer/Merck KGaA (Bavencio), and Sanofi/Regeneron (Libtayo). They’re marketed as miracle drugs with names nobody can pronounce and results even harder to find.

The truth is stark: in cold tumors like pancreatic, ovarian, and prostate cancer, they simply do not work. And even in “hot” tumors such as lung cancer or melanoma, more than 70 percent of patients still fail to achieve durable benefit.

Big Pharma keeps pushing them anyway. Why? Because the cash cow needs feeding. “Potential” gets spun into endless trials and glossy presentations, while real progress stalls. Over time, those cash cows turned into fat pigs — bloated on profits from drugs that barely work. Big Pharma has grown complacent, slow, and comfortable — a health empire feeding on repetition, not results.            

When Science Becomes a Shield

They’ll tell you they’re just “following the science” or “moving at the FDA’s pace,” but that’s the smokescreen. When there’s profit on the line, these same companies fast-track approvals in months. Yet when a natural immune spark like Pelareorep threatens to expose their limits, suddenly caution becomes the convenient shield. The system lets them hide behind regulation — a perfect cover for complacency.

When HIV was the death sentence of the ’80s and ’90s, the world moved fast. Patients protested, regulators listened, and drugmakers cooperated. Within a few years, the “cocktail” approach turned a fatal diagnosis into a manageable disease. Cancer is no less deadly — millions die each year — yet the same urgency is nowhere to be found. The system has grown comfortable, letting time slip by while people fade quietly in hospital rooms. The science to spark a new era exists, but complacency keeps it on ice.

And it’s not just checkpoint inhibitors. Even the new wave of antibody-drug conjugates (ADCs) are stuck in the same slow lane — testing themselves only against standard chemo, one cautious inch at a time. Those trials will take years, chasing small safety margins while real innovation waits on the sidelines.

A Spark from Nature

Here’s the science. Cold tumors block T cells with a defense mechanism. CIs are supposed to cut that defense, but if no T cells are there to begin with, the drug has nothing to do.

This is where Pelareorep, developed by Oncolytics Biotech (ONCY), changes the story. Originally revealed in Dr. Albert Sabin’s polio labs in the 1950s, this ancient virus — perhaps a quiet gift of nature itself, waiting to be recognized — was later found to infect and destroy cancer cells while sparing healthy ones. Pela is not just another lab-made drug — it’s a clinically adapted virus, a gift from nature, that seeks out and infects cancer cells while sparing healthy tissue. In amplified IV doses, it penetrates tumors, cracks them open, and releases antigens that wake up the body’s T fighter cells — the immune system’s front-line soldiers. These cells replicate and multiply, then fan out to hunt down and attack cancer cells wherever they find them. Pela is more than just a spark plug. This immune platform is the critical missing piece of the Trinity that people need to help beat cancer.

And the proof is already there: when Pela was combined with Merck’s Keytruda in pancreatic cancer — a cold tumor where Keytruda alone does nothing — patients saw about a 30 percent clinical benefit rate. That’s a clear signal of what happens when the spark plug is added.

ONCY is now preparing a larger, pivotal-intent trial that pairs Pelareorep with the standard pancreatic-cancer chemo backbone — gemcitabine and nab-paclitaxel (the GnP regimen) — plus a checkpoint inhibitor. The design aims for regulatory acceptance while bringing Pela’s spark directly into a real-world frontline setting. What’s especially notable is that no checkpoint-inhibitor partner has yet been named, leaving the door open for one — or more — Big Pharmas to step in. But where are they?

Merck Sits Back — For Now

Logic says Merck should be first in line. They already saw Pela lift Keytruda’s results by roughly 30 percent in a cancer where their own drug alone does nothing. Pairing Pela with Keytruda could unlock entire new indications — ovarian, pancreatic, even prostate — each worth billions. But doing so would also expose the truth: that Keytruda isn’t enough on its own. So instead of openly embracing the spark that could expand their reach, Merck sits back — at least for now — protecting the illusion of sufficiency while the opportunity — and the patients — wait.

Roche, with Tecentriq, has even more reason to move. They’ve already seen Pela in action — it was tested with Tecentriq in breast cancer and showed it could turn cold tumors hot. Yet, despite that firsthand data, Roche has stayed silent too. With Tecentriq’s market share fading and its own combination-heavy pipeline, Roche might have the most to gain by reigniting its CI franchise with Pela — but for now, it remains on the sidelines.

The Trinity Approach: Spark → Block → Smash

What would happen if a third targeted weapon — an ADC — were added to the regimen? That’s the Trinity Approach.

In this case, it isn’t the FDA holding things back — it’s Big Pharma itself, guarding its own franchises. These companies don’t need to hide behind regulation when silence works just as well. In choosing that silence, they aren’t just avoiding Pela — they’re suppressing Oncolytics Biotech (ONCY) itself, the small company holding the spark plug that could change the cancer fight.

The Waiting Game

And here’s the irony: ONCY themselves will never call this out. They can’t. A small biotech has to play nice with Big Pharma if they want a partnership or buyout. That leaves it to outside voices to point out the obvious — that Merck and others are knowingly milking cash cows that don’t hit the mark while suppressing the one piece that could truly move the needle.

And make no mistake: Oncolytics Biotech (ONCY) is not built to go it alone. Their resources are limited, which is why they’ve openly said they’re seeking a partner or strategic deal. The science is proven, but it will take a bigger player to scale it into a front-line weapon.

The other side of the coin is that if no one steps up, ONCY will keep pushing forward by themselves — years of more trials, more dilution, and more tears for patients waiting on something that already works. That’s the gamble. Do Big Pharmas keep suppressing, or does one finally seize the spark plug?

An antibody-drug conjugate (ADC) is targeted chemo — it delivers the toxic hit straight to the tumor cells without blasting the rest of the body like broad chemo does. That’s where real durable responses finally show up.

And yet, complacent Big Pharma execs would rather keep knowingly pushing their cash cows that don’t hit the mark.

Merck may not want this because it risks showing Keytruda’s limits. But other Big Pharmas could have a massive advantage by owning the spark plug:
Roche/Genentech (Tecentriq) could reignite a fading CI franchise.
AstraZeneca (Imfinzi, Imjudo) could sharpen its push in lung and GI cancers.
Pfizer/Merck KGaA (Bavencio) could finally stand out in a crowded CI market.
Bristol Myers Squibb (Opdivo, Yervoy) could fortify its lead before patent cliffs.
Johnson & Johnson — no CI of their own, but with an ADC pipeline, they could bolt Pela onto their targeted chemo agents and leapfrog the whole CI club.

Owning Pela means you can either rescue your CI franchise or supercharge your ADC portfolio. That’s not just market share. That’s hundreds of thousands of patients each year who could finally have real durable responses — to live better, longer, and stronger if Big Pharma stepped up instead of knowingly pushing cash cows that don’t hit the mark.

There should be white sharks circling by now — rivals who can smell the weakness and opportunity. The complacent empire may be bloated, but its edges are starting to bleed. The question isn’t whether they see the spark plug — it’s which one will strike first.

Stock Talk — Who Seizes the Spark Plug?

The Trinity is in plain sight. Science has it. The first company to act on it could spark the future of oncology.

And here’s the speculation: Johnson & Johnson, with its ADC arsenal but no CI of its own, may have the most to gain by stepping up on the Trinity Approach — especially with the new CEO of ONCY already having a track record inside J&J. But they wouldn’t be alone. Novartis, with its cell-therapy programs and growing ADC pipeline, could leap in. Gilead, sitting on Trodelvy but no checkpoint inhibitor, could bolt Pela onto its arsenal and suddenly have a Trinity cocktail of its own.

While Merck protects Keytruda and the rest of the CI club keeps knowingly milking cash cows that don’t hit the mark, the real question is which outsider will seize the missing piece — Oncolytics Biotech (ONCY) — and change the game.

Feature Opinion Story by Spider J. Jones

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More later so ....Stay tuned, if you dare !

For now, we close by noting that any view on the market and stocks on any particular day may change in the future days to come. That is why we watch and see how our views match up with the reality of the time.  But trying to look ahead a few months into the future may be a way to do things.  If you think too deep about world events and the recent alliances forming, projecting ahead can be a dicey endeavor.  In all -  we use the word maybe "some", not "too much" and play it accordingly.  Remember, never get arrogant in our various notions because things do change in the market and individual stocks are subject to many factors outside of our control.. So we try to -stay aware.

With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.

___________

ALL in my humble opinion, scroll down and read more.This site does NOT make Buy / Sell recommendations.
________

Sunday Special Jones Edition: Why Isn’t Kinross Minting a Gold Coin JUST for shareholders of record? (Update 12/8)

   

Why Isn’t Kinross Minting a Gold Coin JUST for shareholders of record?

Important Update (Eligibility & Coin Sizes)

Eligibility could reasonably start at 50 shares at the proxy record date—enough to show real participation without shutting out smaller shareholders as KGC rises in price. When it comes to coin size, not every shareholder can buy a full ounce at once, so Kinross could offer 1/4 oz, 1/2 oz, and 1 oz options, with a maximum annual purchase equal to one total ounce per shareholder. This keeps things affordable, fair, and still genuinely scarce.

If Kinross ever chooses to pursue this idea, they’ll design the details their own way. The point is simply to spark the thinking—and highlight what’s possible.

Gold miners keep missing the moment:  Crypto invents digital scarcity out of nothing, while Kinross produces real scarcity from the ground—and still hasn’t leveraged it. That could change with one simple move. 

While Bitcoin floats in the digital ether—and new celebrity tokens appear every week—Kinross is sitting on the one asset those fantasies are trying to imitate: real physical gold. Not code. Not marketing. Not blockchain buzzwords. Gold you can actually hold in your hand. So here’s the idea: What if Kinross minted a gold coin  that ONLY eligible Kinross shareholders could purchase? Not another Maple Leaf. Not a public bullion product. A Kinross coin for Kinross owners. Something real, not imaginary.

Blockchains Don’t Change the Core Problem

Crypto has recently tried to rebrand itself as “blockchain infrastructure processing”—as if that somehow transforms digital tokens into tangible value. The technology may be real, but the token usually represents nothing but belief. Owning a crypto token is not owning a data center. Owning Kinross is owning a gold mine. Big difference.

Collectible Scarcity

There are two kinds of scarcity: 1) the physical scarcity of gold 2) the access scarcity of who’s allowed to purchase the coin. Anyone can buy a Krugerrand. But with this concept, only a verified Kinross shareholder could purchase a Kinross Gold Coin made from the very gold produced at the mine they already own a stake in. Bitcoin tried to manufacture scarcity with code. Kinross already has geological scarcity.

The Proxy Cycle: The Hidden Power Move

Most retail shareholders don’t vote. Companies beg for higher proxy participation every year. This concept solves verification AND boosts engagement at the same time: vote your shares, system confirms ownership automatically, receive a shareholder access token, use that token to purchase a Kinross Gold Coin. Clear: the coin is NOT free - voting only grants eligibility to BUY one. This verifies shareholder status, increases proxy voting, and gives investors a physical connection to the metal they already own a piece of. That’s alignment.

Eligibility Matters (Update 12/8)

Eligibility should require at least 50 shares held at the proxy record date—high enough to prevent one-share opportunists, yet realistic for smaller investors, especially if the stock price moves higher over time.

Reasonable Guardrails

• minimum 50 shares

• eligibility tied to proxy cycle

• annual purchase cap equal to one ounce

• token expires annually

• new token issued at next proxy cycle

• shareholders choose 1/4 oz, 1/2 oz, or 1 oz (up to one ounce total)

Simple. Clean. Limited.

Kinross Being First Is the Advantage

This isn’t about other miners. This is about Kinross doing something no gold miner has done before. Being first instantly makes the coin unique and bonds shareholders to the company in a way crypto never can. Crypto offers bits in the ether. Kinross could offer the metal the world has trusted for 3,000 years. Investors don’t need another digital fantasy. They need something real.

What About Hecla?

Hecla is primarily a silver producer—they could mint a silver coin for eligible holders. But the symbolic weight—and the disruptive potential—belongs with Kinross and gold. That’s where this idea truly lives.

An Idea Too Obvious to Ignore

Here’s the remarkable part: this concept has been suggested to Kinross before—and never even acknowledged. That alone says something about how traditional mining thinking overlooks simple opportunities to drive loyalty, identity, and engagement. This idea is already complete. Kinross doesn’t need a task force—it just needs a decision.

The Real Question

Do they have the imagination to see how a shareholder-only gold coin could bond an entire community of traders and long-term holders together—exactly at the moment digital fads are collapsing and investors are looking for something real?

Closing Thoughts

Kinross has the metal. Kinross has the refining. Kinross has the shareholders. Only the minting remains. Bitcoin sells belief made of code. Kinross could sell value made of gold. Sometimes disruption doesn’t require blockchain. Sometimes it just requires imagination—and a mint.

If Kinross ever chooses to pursue this idea, they’ll design the details their own way. The point is simply to spark the thinking—and highlight what’s possible.

Spider Jones — Stocks to WATCH, Sunday Special Edition

If interested - scroll back and view notes on other stocks, we watch here at the Jones report.  Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions.  Finally - maintain some dry powder and trade or invest according to your own due diligence.

______________

More later so ....Stay tuned, if you dare!

For now, we close by noting that any view on the market and stocks on any particular day may change in the days to come. That is why we watch and see how our views match up with reality.  Looking ahead a few months may be a way to do things - but thinking too deeply about world events and the recent alliances forming, can make projecting ahead a dicey endeavor. 

All in all - we use the word maybe "some", not "too much" and play it accordingly.  Never get arrogant in our notions because things do change - and individual stocks are subject to many factors outside our control. So, we try to -stay aware.

With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.

___________

ALL in my humble opinion, scroll down and read more.This site does NOT make Buy / Sell recommendations.
________