Nobody loves miners any more - it could be the very good time to accumulate the best stories in the market place. And now it looks like that December was a really good time for it. Still under the radar screens of the mainstream investors best junior miners are turning around from historical oversold levels. Last week CITI went bullish on miners for the first time in three years, so the story will be getting out and new money will be coming into the sector now.
McEwen Mining has been breaking out with the very impressive run from retesting lows of 2013 at just above $1.65 level in mid December to this last Friday close of $2.49 on Volume of 5 million shares. TNR Gold is getting its bids as well now and closed at CAD0.055 last week. Los Azules copper is the key to valuation catalyst for both companies now. TNR Gold holds shares of McEwen Mining after the settlement on Los Azules. TNR Gold is selling its Back-In right with PI Financial engaged and Rob McEwen was relying on Los Azules sale to finance its ambitious expansion plans.
In the recent interview Rob has discussed Argentina situation, which is changing for the better now. Nothing is easy in these markets, but any developments with Los Azules will be the game changer for McEwen Mining and TNR Gold. Rob is talking about potential acquisitions for McEwen Mining, ongoing drilling in Nevada in Q1 and his conversation with "person from the ground in China." Not a lot of people are expecting it, but 5 dollar Copper could be in the cards, according to that source. Needless to say that it will make very happy shareholders of McEwen Mining and TNR Gold and Rob is still standing by his $5,000 price for Gold.
Recent impressive rally in McEwen Mining was fired by the huge short position of over 30 million shares as of December 2013 and should Gold continue its run to the upside shorts will be very nervous. The WSJ article is providing some confirmation of the potential change in the trend for Copper as well.
McEwen Mining And TNR Gold: Report - Argentina Is In The Mood For Change On Investment Policy TNR.v, MUX, LCC.v, SSRI, PAA"Argentina mining landscape is changing for the better according to the report by BN Americas. Lumina Copper is trading above CAD 6.00, McEwen Mining is breaking out to the upside and TNR Gold has found some bids as well recently."
Los Azules Copper - McEwen Mining And TNR Gold: Yamana Gold to invest $450 million in Argentine mine MUX, TNR.v, LCC.v
"It looks like the shift in Argentina for the better is happening for real this time. Rob McEwen has discussed it in his recent presentation and that in his opinion "we have seen the low in Argentina after a lot of disappointment". Shevron special Shale Oil deal, repayment to Repsol and now Yamana Gold investment are certainly the things we would like to see now after elections. Lumina copper is holding above CAD5.00 these days and McEwen Mining and TNR Gold should benefit from Los Azules copper revised valuation now."
The Wall Street Journal:
Country's Appetite for the Metal Grows Despite Slowing Economy; Hedge Funds Help Lift Prices
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