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In this update...
- Links of the Week
- Company News
- Silver Producer Index & Toronto Venture
Links of the Week...
How Much can GDX & GDXJ Gain in 2014?
We've had a big rebound already but how much is left? We try to tap into the current chart patterns and history in order to form a projection.
Capital, Retail Investors Returning to Junior Golds
The FinancialPost has good coverage of the mining sectors. Good article.
Tiho Brkan: Are Commodities Breaking Out?
This is a few days old but Tiho looks at various commodities and their current technical outlook. The CCI has broken out but to confirm that we should see how the various groups (energy, industrial metals, precious metals, ags) are looking.
Tommy Humphries Talks Mining Investments in Africa
My friend Tommy Humphries of CEO.ca speaks to why companies are finding value in West Africa. Bookmark CEO.ca as it has excellent daily coverage of junior mining.
Company News...
Podcast: An Update on Balmoral Resources
Darin Wagner, founder & CEO of Balmoral Resources gives us an update on the company and its plans for 2014. Balmoral is cashed up (~$10M) and has a growing high-grade deposit in Quebec. The stock surged off a strong double bottom in December and has barely paused. Darin also comments on the latest M&A in the industry.
Podcast: An Update on Corvus Gold
Corvus' results at Yellow Jacket continue to get better and better. The company will have a new resource estimate out soon and a PEA to follow. CEO Jeff Pontius believes Yellow Jacket has a chance to be a major discovery. Given how the shares of Corvus Gold have performed, it's safe to say the market agrees. Corvus is one of only two precious metals stocks to recently make a new all time high.
Bear Creek Files Notice of Intent to Arbitrate Over Santa Ana
The minister of mines in Peru in October said the government was very willing to facilitate the untangling of the project (Santa Ana). The two parties have six months to come to a resolution or it could get tied up in the courts. Bear Creek's Corani is well on its way to production but it appears the company wants to resolve Santa Ana first.
Silver Producers Index
This is a weekly chart of our Silver Producers Index. It contains 14 stocks and is partially weighted. This past week the index broke out from 10-month resistance, dating back to April. The index has about 15% more upside until the next resistance.
If you look at that index as well as SIL, GDX, GDXJ and GLDX you'll notice that on average there is about 15% upside until the next strong resistance. This strong short-term rebound that began in late December could still have legs in the short-term. Moreover, the outlook for the rest of the year continues to be very good.
Here is another chart to consider. Canada's Venture Index looks very bullish. It recently hit a nine month high and then pulled back to retest the breakout. That pullback held the now rising 200-day moving average! The index closed at 996 and won't face resistance until the high 1100s.
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Thanks for reading. I wish you all great health and prosperity in 2014.
-Jordan
Disclaimer: Sponsor Companies are paid sponsor companies of TheDailyGold.com website and this free newsletter. Do not construe sponsorship with a recommendation. The author of this newsletter is not a registered investment advisor. This newsletter is intended for informational and educational purposes only and should not be considered personalized and individualized investment
advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and due your own due diligence. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that can cause results and outcomes to differ materially from those discussed herein.
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