Rob McEwen is pushing forward despite all market hesitation towards his goal - to be included in S&P 500. Now this dream looks to be as far away as his prediction for the Gold to hit 5,000 dollars. But Mr Gold Corp stands by his grounds and says that Gold will go to 5,000 and "even higher".
Some investors have become quite sceptical and short interest in McEwen Mining is hitting all time high on par with all time high short interest in Gold on COMEX. And here where Rob can pull up couple of aces from his sleeve again. He managed to reduce the expectations without big discount to previous growth plans for the company, the necessity to finance its growth right now or to sell Los Azules at the fire sale prices.
We are following Los Azules, TNR Gold and McEwen Mining here and do not provide any investment advise. For us it is interesting to see how this time total desperation in Junior Miners will be turned into the Greed once Gold will surpass 1300 and Silver will be solidly above 20 dollars.
Here where Los Azules can become the game change for McEwen Mining and TNR Gold. Rob was talking about "few hundred millions" for the asset and it could become a reality at some point contrary to total discount in the market place at the moment.
TNR Gold & McEwen Mining: Ross Beaty Buys 1 Million Worth of Shares In Lumina Copper TNR.v, MUX, LCC.v
"Recent research note from Mackie with target price of CAD 13.7 puts valuation of Lumina Copper and Taca Taca respectively at the 600 million us dollars and Raymond James has even higher target price of CAD 20.00. Whether Taca Taca and Los Azules will be able to achieve these valuations in the market remain to be seen, but certain insiders are voting with their money that recent valuations by Mr Market could be wrong again."
This week events in Argentina with OIl Export decree in place and Chevron moving with 1.2 billion investment can show that the situation in the mining will change there as well.
Rob McEwen is not just waiting for the stars to be aligned, but on track to deliver the valuation changing PEA on Los Azules in September. Company has reported the record production and very impressive increase in the resources in Mexico recently as well.
McEwen Mining Sets Quarterly Production Record; 35,955 Gold Eq. Ounces Produced Q2; On Track for 130,000 Gold Eq. Ounces in 2013
McEwen Mining Announces Measured & Indicated Resources Grew by 38% at El Gallo 1 Mine in Mexico
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