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In addition to the unlockable secret ending, Paper Mario: The Origami King also rewards players for completing a challenging achievement.
In Paper Mario: The Origami King , there are several different endings to the game based on a player's choices. There is also a secret ending to unlock that will play following the game's end credits. To do this, the player must complete the game 100%, which includes earning all the available Trophies prior to fighting the final boss. There are also two extra unlockable achievements the game never mentions.
One of these special achievements is the Gold Fist Banner, which appears in the background of the end credit photo following the game's completion. The banner only unlocks if specific conditions have been met, and they are somewhat difficult to accomplish. Reaching this accomplishment does not count toward the 100% completion of the game, but it is a neat Easter egg for players who can beat the game without extra help. Here's how to unlock the Gold Fist Banner in Paper Mario: The Origami King .
Like the secret Gold Heart Banner, players must complete the game in a specific way to unlock the Gold Fist Banner. Rather than completing the game without getting Game Over, players need to complete the game without using any Battle Accessories .
This can be an incredible challenge. Battle Accessories are items Mario can purchase and equip from Accessory Shops around town. To access some of these Shops, like the Toad Town Accessory Shop , Mario first needs to find and rescue the shopkeeper Toad . Accessories can increase Mario's strength by boosting his stats in battle. The three most common are Time, Heart, and Guard bonuses, and each Accessory in these categories has different level.
Time bonuses would allow the player a few more seconds to set up the board however they want on their turn. Heart bonuses raise Mario's HP and make him more difficult to kill in battle. Guard bonuses reduce the amount of damage an enemy's hit will do in battle. These are great ways to make the battles easier, but using any of them will disqualify the player from the Gold Fist Banner.
Mario can still use the other available Accessories that do not give him an advantage in battle. These would include the Toad, Treasure, and Hidden Block Alerts, the Membership Cards, and the Confetti Vacuum.
Players who do not equip Accessories may find they reach the Game Over screen more often. While it is theoretically possible to achieve the Gold Heart and Gold Fist Banners in the same game, it would add another level of challenge to the game. Neither accomplishment is required for unlocking the secret ending either, so players can still see the hidden end credits scene without unlocking either banner.
If players do manage to complete the game without Battle Accessories, in addition to the banner, they will also have a Gold Fist badge on their save file following completion of the game.
Paper Mario: The Origami King is available for the Nintendo Switch.
Maria Meluso is a game guide and game review writer for Screen Rant based in New Jersey. She covers everything from massive, open-world RPGs to small-scale indie horror projects. She has a master’s degree in Technical Communication and multiple certifications and national awards in Screenwriting. She’s the kind of gamer who loves instructions and manuals but who is stubborn and competitive enough to wait to consult game guides until she's hit game over at least 15 times. When not writing, you can usually find her playing her favorite fantasy RPGs like Dragon Age, scaring herself by playing horror games like Resident Evil, and writing screenplays.

3 Reasons To Buy Gold Miners Hand Over Fist
Dec. 08, 2021 7:00 AM ET GDX , GDXJ , GLD , GOLD , NEM , ABX:CA , NGT:CA 43 Comments 23 Likes
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Gold miners ( GDX )( GDXJ ) have a checkered past that have resulted in significant long-term underperformance of not only the underlying commodity gold ( GLD ) itself, but also the broader stock market:
Gold miners have underperformed due to a lethal combination of volatile gold prices that have driven poor capital allocation decisions, overleveraging, operational challenges, and geopolitical difficulties.
As a result, many investors have thrown in the towel on the sector. However, where others see perennial underperformance, we see tremendous opportunity. We're growing increasingly bullish on blue-chip gold miners like Barrick Gold ( GOLD ) and Newmont Corporation ( NEM ) and buying them aggressively for the following reasons:
GOLD and NEM are true blue chip miners that operate world-class assets. Furthermore, both of these companies are advancing mining technology by implementing cutting-edge data analytics and autonomous technologies to cut costs and improve exploration and operational effectiveness.
As a result of emphasizing this trilogy of asset quality, data analytics, and advanced operational and exploration technology, the operational risk profiles have remarkably improved. These are not the high risk miners of before where billions of dollars would be sunk into projects that would end up turning into operational quagmires. GOLD and NEM are being very disciplined with their capital allocation.
In addition to implementing advanced technology and insisting on higher asset quality, GOLD and NEM are operating with conservative gold price assumptions (~$1200-$1300 per ounce compared to the current price of ~$1,800 per ounce) as well as high graded return hurdles (typically 15%+).
With all of these factors at play, GOLD and NEM are running industry low all-in sustainable costs of well under $1,000 per ounce even as gold prices continue to hover near highs. As a result, these companies are wildly profitable right now and gushing free cash flow.
Best of all, these profits should not vanish anytime soon, as GOLD and NEM are reducing energy cost exposure by improving carbon footprints and increasing use of renewable energy, continue to invest in new methods and technologies for reducing AISC rates below $900 per ounce, and have also developed lengthy production profiles.
For example, GOLD's proven and probable reserves imply a mine life estimate of more than 10 years of very stable production, giving it plenty of time to benefit from the appreciation that we expect to play out in gold and copper prices in the coming years:
NEM also has a really lengthy production profile as it expects to steadily improve its attributable gold production to ~8 million gold equivalent ounces per year through 2030. Furthermore, they have an extensive exploration and project pipeline that they expect will enable them to sustain production into the 2040s.
source: company investor presentation
Another reason we believe that the blue chip gold miners' best days are ahead of them are that their balance sheets have undergone an incredible transformation in recent years. As these companies have cut costs and gold prices have recovered in recent years, their management teams have prudently prioritized reducing debt to the point where today th ey're effectively de bt fre e:
As a result, their balance sheets are positioned to weather any type of operational, geopolitical, and/or macroeconomic challenge that has dealt them.
These first two reasons for buying blue chip gold miners are so fundamental to our investment thesis because the appeal of gold miners over investing directly in gold is that they: (1) Generate free cash flow and (2) offer leveraged upside to appreciation in the price of gold. However, the main risk is that - with gold price volatility - they may seriously misallocate capital and - if they become overleveraged and fall into losing money - they may not survive the downturns, or at least suffer significant impairments.
However, between de-risked operational profiles, significantly lengthening their production profiles, and all but eliminating financial distress risks, these blue-chip miners have essentially removed the long-term downside risks to the thesis as investors can essentially buy and hold and wait indefinitely for gold prices to appreciate.
Last, but not least, we expect GOLD and NEM to generate very strong total returns. This is due to the two-pronged impacts of the bullish outlook for gold prices and the attractive valuations currently present in GOLD and NEM shares.
GOLD's EV/EBITDA ratio is a mere 5.2x, its Price to Normalized Earnings ratio is an attractive 14.74x, and its Price to Free Cash Flow ratio is just 12.70x. These all compare very favorably to its 5-year average respective ratios of 6.85x, 22.74x, and 16.37x.
NEM also is attractively priced as its EV/EBITDA ratio is a mere 7.19x, its Price to Normalized Earnings ratio is an attractive 19.12x, and its Price to Free Cash Flow ratio is just 16.42x. These compare very favorably to its five-year average respective ratios of 7.83x, 23.10x, and 15.37x. While its multiples are not nearly as attractive as GOLD's, NEM does have a lengthier production profile right now, so the premium is somewhat justified, though we do feel like GOLD overall presents a better value.
On top of these attractive multiples, gold is very likely headed higher due to soaring inflation and persistently historically low interest rates, resulting in real interest rates that are deep in the red. As the chart below shows, interest rates and CPI have generally been somewhat correlated, with interest rates generally exceeding inflation rates by a little bit (as they should). However, over the past year, this relationship has seen a sharp break as inflation has soared far in excess of interest rates.
Based on the chart below, whenever the real interest rate was negative over the past decade, gold was up significantly every time.
source: Author's calculations comparing CPI, Long-term U.S. Interest rates, and Gold Price movements
With the stock market and real estate prices propped up by low interest rates and the U.S. Government continuing to run up record deficits, policymaker's hands are largely tied, preventing them from aggressively hiking interest rates to head off inflation. As a result, even if some of this inflation is indeed transitory, there's clearly some very real inflation underway and meaningful negative real interest rates are likely to remain in place for the foreseeable future. This bodes extremely well for gold, making the current discounted valuations in blue chip gold miners look even more attractive.
With inflation soaring, interest rates stuck at historically low levels, and geopolitical risks rising, Ray Dalio's timeless wisdom embodied in the quote below is more pertinent than ever:
We believe that blue-chip gold miners like GOLD and NEM are one of the most attractive risk-adjusted ways to deploy capital today for the reasons listed in this article and have meaningful exposure to them in our portfolio.
If you want full access to our Portfolio and all our current Top Picks, feel free to join us for a 2-week free trial at High Yield Investor.
We are the fastest growing high yield-seeking investment service on Seeking Alpha with 1,000+ members on board and a perfect 5/5 rating from 100+ reviews:
For a Limited-Time - You can join us at a deeply reduced rate!
Samuel Smith is Vice President at Leonberg Capital and manages the High Yield Investor Seeking Alpha Marketplace Service.
Samuel is a Professional Engineer and Project Management Professional by training and holds a B.S. in Civil Engineering and Mathematics from the United States Military Academy at West Point. He is a former Army officer, land development project engineer, and lead investment analyst at Sure Dividend.
Disclosure: I/we have a beneficial long position in the shares of NEM, GOLD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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