Category: Gold
350 Posts
POSTED ON October 29, 2014 BY CEO Technician

Gold stocks were hammered today with many senior producers falling by more than 5%. Barrick Gold (ABX), the world’s largest gold miner, was particularly hard hit; its shares reached levels not seen since 2003 when gold was $330/ounce and copper was below $1/pound: Click to enlarge This chart is truly remarkable. It tells a story… Continue Reading

POSTED ON October 28, 2014 BY CEO Technician

Total assets in gold exchange traded products reached fresh 5-year lows last week: Click to enlarge In addition, total assets in the Rydex Precious Metals Fund (an excellent gauge of retail investor sentiment) reached 12-year lows yesterday as investors continue to flee the space in disgust: It is interesting to note that as funds continue to… Continue Reading

POSTED ON October 24, 2014 BY James Fraser

The bear market in gold stocks continues with many of the more notable names hitting 52 week lows during the past few days. Barrick, the world’s largest gold producer (Barrick Gold: ABX.T) hit a low of $14.80, down from $55 just three years ago. Gold equities have been extremely volatile in the past year, creating… Continue Reading

POSTED ON October 24, 2014 BY CEO Technician

Here are the 5 things that you might see near a market top: 1. Commodities rolling over CRB Index   2. Deteriorating market breadth with leadership sectors (energy, financials, and technology) getting hit especially hard S&P 500 1-month heat map   3. Volatility and volume expansion S&P 500 daily with average true range below  … Continue Reading

POSTED ON October 23, 2014 BY Travis McPherson

The Lundins focus on Chile is continuing today, this time with more news from portfolio company, NGEx Resources (NGQ:TSX). “Chile’s biggest new copper-gold camp” is posted all over NGEx’s website and the company believes that they not only have large deposits (3 of them to be exact), but that they are sitting on an entire… Continue Reading

POSTED ON October 23, 2014 BY CEO Technician

An especially brutal round of hedge fund/mutual fund tax loss selling this week (most fund companies have fiscal years that end on October 31st) has sent gold mining shares tumbling to levels not seen since the 2008 Global Financial Crisis (GFC): Click to enlarge NYSE Arca Gold Bugs Index   Gold shares have performed poorly since… Continue Reading

POSTED ON October 22, 2014 BY Travis McPherson

A relatively unknown European-focused gold developer called Euromax Resources (EOX:TSXV) has a market cap of just $26 million, but yesterday it secured a $175 million streaming deal with the world’s largest gold streamer, Royal Gold. That’s nearly 8x its current market cap. Euromax’s management is made up of most of the former European Goldfields executives who sold that… Continue Reading

POSTED ON October 21, 2014 BY Travis McPherson

In what looks to be a classic example of “first mover advantage’, the billionaire Lundin family is acquiring one of the best gold projects in the world, in the worst market in decades. Lukas Lundin’s Fortress Minerals is acquiring the Fruta del Norte (FDN) gold project in Equador from Kinross Gold for $240 million in cash and stock.  The… Continue Reading

POSTED ON October 21, 2014 BY Travis McPherson

As reported earlier (here), billionaire Swede Lukas Lundin has been in talks with Kinross and the Ecuadorian government for a potential deal on the infamous high-grade gold deposit known as Fruta del Norte. After 5,200 shares traded today, the Lundin Group shell, Fortress Minerals (FST.H:TSXV) was halted pending news. As we speculated earlier, this would… Continue Reading

POSTED ON October 20, 2014 BY Travis McPherson

The opportunity to buy a $1 bill and pay only $0.50 for it was created earlier this year in the shadow of the largest gold M&A deal of the year. The $3.6 billion acquisition of Osisko was announced in April when Goldcorp made a hostile offer for the Canadian gold miner and ultimately saw Agnico-Eagle/Yamana jointly outbid… Continue Reading

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