Themes / Cluster
Inactive · established relationshipLatest completed snapshot · Oct 5 · 18:24 ET

MARKET-DISCOVERED GROUP

Gold Mining

THE TRADER READSSRM dominates an otherwise mixed group path

2 of 4 measured session-normalized paths align to the upside across 2.3 effective names. HYMC is also moving with filing-linked members. Capital-flow agreement is 13%, so the basket is not yet clean. No verified headline preceded the measured move.

Price breadth2 up · 2 down+0.8% session-normalized median path
Capital-flow alignment13%Price breadth is not yet confirmed by flow
Activity nowCalmActivity score 14/100 · lift 0.8×
Evidence depth4 episodesLow sample—context, not a validated playbook
EVIDENCE CLOCK

What happened, in timestamp order

4 timed events · 09:30–15:55 ET
TIMING READNo verified timestamped headline was found within 24 hours of the first measured price move in the available common-bar window. The move currently reads as market-led or unexplained.
  1. 5-minute inferenceASM registered the first material downside path

    -0.90% session path at the threshold · ASM

  2. 5-minute inferenceSSRM registered a material upside path

    +0.43% session path at the threshold · SSRM

  3. 5-minute inferenceEQX registered a material upside path

    +0.54% session path at the threshold · EQX

  4. 5-minute inferenceIAG registered a material upside path

    +0.35% session path at the threshold · IAG

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.
THEME CONSTRUCTION

Broad move or one-stock disguise?

Session-normalized 5m paths

Observed movement is concentrated across 2.3 effective names. SSRM represents 49.7% of absolute path energy; 2 of 4 members align with the up relative path.

ConstructionConcentrated49.7% from the largest path
Effective names2.3 / 4Movement diversity after concentration
Direction breadth2/4 alignedupside relative path · 1 counter-moving
Largest moverSSRM 49.7%93.0% from the top two paths
SSRM49.7%Dominant mover · path +1.66% · basket +0.42pp
EQX43.3%Dominant mover · path +1.45% · basket +0.36pp
ASM5.4%Counter-move · path -0.18% · basket -0.04pp
IAG1.6%Flat / inactive path · path +0.05% · basket +0.01pp
Top six names by movement share are shown. Movement share measures absolute 5-minute path energy; signed basket contribution is equal-weight. Neither is a portfolio weight or causal attribution.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
HOW THE PRICE MOVE SPREAD

Observed session sequence

5-minute bars · inferred
  1. ASM moved lower firstFirst member to clear the material path threshold · path -0.90%
  2. SSRM registered a material higher path65m after the first price move · path +0.43%
  3. EQX registered a material higher path75m after the first price move · path +0.54%
  4. IAG registered a material higher path295m after the first price move · path +0.35%

Sequence inferred from aligned 5-minute price paths; it is not a causal ordering.

RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized
Oct 5 · 09:30 ETMove visible 09:35 ETOct 5 · 15:55 ET
Group median +0.75%Strongest relative path SSRMWeakest relative path ASM

Observed member paths normalized to the session. The dashed marker shows when the median move first cleared a material threshold; shading marks the latest 20% of the observed window.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

No high-confidence shared filing driver is available. The market relationship is observed, but the cause remains unexplained.

CONFIRMATION NETWORK

Outsiders and cross-asset links

1 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

HYMCMoving with group

SSRM · text peer

CDENot confirming

SSRM · text peer

CTGONot confirming

SSRM · text peer

NGNot confirming

SSRM · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
IAGEQXASMSSRM

4/4 active2 rising · 2 falling

MemberUnusual activityToday's moveRead now
IAGIAMGOLD Corporation
Most unusual · 100/100
-0.5%
Flow divergenceActive in 33.3% of observed group sessions
EQXEquinox Gold Corp.
Elevated · 73/100
+0.8%
Dominant path moverActive in 22.2% of observed group sessions
ASMAvino Silver & Gold Mines Ltd.
Elevated · 65/100
-0.5%
Counter-move / dispersionActive in 0% of observed group sessions
SSRMSSR Mining Inc.
Elevated · 33/100
+1.9%
Dominant path moverActive in 11.1% of observed group sessions
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
IAGIAMGOLD CorporationMost unusual-0.5%33.3% of 9 sessionsMost unusual activity in this snapshot; performance direction may differ.
EQXEquinox Gold Corp.Participating+0.8%22.2% of 9 sessionsPrice participation with distributing signed flow.
ASMAvino Silver & Gold Mines Ltd.Participating-0.5%0% of 9 sessionsPrice participation with distributing signed flow.
SSRMSSR Mining Inc.Participating+1.9%11.1% of 9 sessionsPrice participation with distributing signed flow.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Early observed follow-through

1/1 events completed
30 minutes-2.13%0% continuation · n=1Median MFE +1.05% · MAE -2.13%
60 minutes-0.06%0% continuation · n=1Median MFE +1.05% · MAE -2.13%
Next-session close+0.88%100% continuation · n=1Median MFE +1.05% · MAE -2.13%
Only point-in-time live watcher observations and conservative same-day EOD observations are included. Later backfills and replay runs are excluded.
Low structural sample

Only 4 completed episodes across 9 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support109 daysHow often the cohort identity was observed
Completed episodes4Separate periods of broad group activity
Active sessions9Completed session observations, not trades
2026-08-03 → 2026-08-075 active sessionsNo name was active through every recorded session
2026-06-051 active session100% composition consistency through the episode
2026-05-15 → 2026-05-182 active sessions25% composition consistency through the episode
2026-05-011 active session100% composition consistency through the episode
MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS
IAG33.3% · 1 episode
EQX22.2% · 1 episode
SSRM11.1% · 1 episode
ASM0% · 0 episodes