It's often checks and not charts which determine the next move for miner stocks. We've seen hundreds of millions of dollars flood into the GDXJ space in recent weeks. That should firm up the base for a lot of the free-falling late developers /early producers. (right click "view image" for larger charts)
Detour - DGC.to .... Took a little detour over to BMO with hat in hand for $150 million right at the bottom, $8.75. If it's a buy signal for the banksters, it's good enough to me. Reworking an old low grade mine and supposedly ramping up to 600k oz in the next few years. Huge volume in this week after the financing
KGI.to - Kirkland says , "Beam me up Scottie!" We have a significant breakout here after the overdone naked shorting from 20 to 2.
Another underperformer in the junior producer space, but they look to double production from 90k to
150-180k in 2014. $90m in the bank. Low share count and tightly held by institutions and mrgs. No need to chase, but anything under $4 looks like highway robbery at this point. Management sounds serious about keeping their salaries down and engaging in dividend program asap. Sounds like they don't need to go to the shareholder well anymore.
Torex - txg.to ... Taking back the 4/12 breakdown area, which is also spring 2013 and summer 2012 lows
EMXX - Eurasian , serious volume coming in and the smackdown bar on 4/12 being overtaken. New trading range from gap below 1.60 to gap above around 1.87
ANV - Also financed at $10 + , and good thing they did, but things are looking better here. Should be able to snap to the gap at $9.0 on any lift.
True Gold - True to form, raised a cool $10 mill from Teck in a vote of confidence, at least at 33c / share. Not in our wheelhouse , but it's good to see they can raise money above 5 year lows.
RR.to - Looks like its done precipitating on Rainy River's gold parade. Very nice flat base forming here. $90 m in the bank and 4 mm p/p, but needs $700 m in scratch to get this puppy up and running in a few years.
AR.to - Argonaut may rinse back to 6, but looking good. $190 m in the bank and $11 million net profit at $1500 gold. 130k oz yr now, hopefully headed to 300k + . Canada and Mexico.
AKG - Continues lovely rounded base formation, much healthier pattern than we've s een for a long time
KGC - Leaving some gaps the past few days, but also forming a nice cumulative pattern and outpacing gold .
LIWA - Lihua. Chinese copper wire mfgr. Stunningly low p/e of about 3, with earnings growth as they open another smelter or two. Superb chart and another chance to buy the dip after earnings breakout last week. Hit 5.68 this morning for a bit
REMX - MCP ... Gave a shout out for Molycorp and the rare earths a few weeks ago and we got a blowout
on MCP lack of "earnings" a few days ago. Looks like it might be good for another throw under $6
MDW - Starts the post holiday period with a nice base breakout against a weak gold opening