We were missing the very important sign of the bottom in Gold and Silver markets - M&A activity with industry insiders bottom fishing for the distressed assets. Today we have an important development confirming observations of Rick Rule in the market place. Big money are looking for deals now. Rob McEwen's new play McEwen Mining is breaking out to the upside today on some volume with Gold crossing $1250 level.
"Rick Rules discusses the recent bear market in Gold and what is going to happen in the beginning of the new bull phase. Money are coming into the resource sector again. It is the very big money, which are circling this sector now. Who are the investors? You can guess - they are mostly from Asia - China and Korea, new type of long term investors. There are a lot of opportunities in the market now - we have learned from our previous experience and the valuations are very appealing now for the right plays."
Rob McEwen: “The Next Run Will Be Driven By Gold Moving Higher, As Well As New Discoveries” MUX, TNR.v, GDX, GLD"Rob McEwen gives his view on the Gold market and what will be the driving force behind the next Bull Run. He is looking for the deals in this market environment and that new discoveries will be driving the successful companies backing them. Meanwhile Gold is under pressure today testing the recent lows. Equity markets are drifting lower and Interest Rates higher. Rob reminds us, that turnaround can be very fast as we saw this summer after Gold has bottomed out and miners were spiking up. Equity markets are very high now and Gold sector is very undervalued, people will start looking at the relative values at these levels."
The Globe and Mail: