Continental Gold IncOTCQX
Yesterday, 12:05 PM
- Overstuffed bears are taking some profits in gold and silver today as the strong November jobs report confirms what most already knew - the economy is cruising along and a rate cut is coming this month.
- Gold is higher by 0.6% and sliver by 1.5%.
- The precious metals miner ETFs: GDX +3.7%, SIL +4.1%
- Barrick Gold (ABX +5.3%), Newmont Mining (NEM +3.7%), Goldcorp (GG +2.4%), Silver Wheaton (SLW +2.9%), First Majestic (AG +10%), Continental Gold (OTCQX:CGOOF +7.9%), Detour Gold (OTCPK:DRGDF +11.1%), Northern Dynasty (NAK +16%)
- ETFs: GDX, NUGT, GDXJ, GGN, DUST, JNUG, GLDX, JDST, SGDM, ASA, RING, PSAU, SGDJ, TGLDX, GDJJ, GDXX, GDXS, MELT, SIL, SLVP, SILJ
Mar. 20, 2014, 1:26 PM
- The rally in large gold miner names (GDX +0.8%) may have gotten ahead of itself as the companies still have plenty of work ahead of them as they move to repair balance sheets and focus on cash flow over growth, writes Liam Denning. The smaller miners (GDXJ +2.7%) have rallied faster this year, but they fell further last year, and their attraction now would be the potential for deals - the larger players are pushing off projects, and thus need another way to replenish resources.
- Not all are good targets, but those with projects closer to completion and for higher grade ores are most attractive, says CIBC's Jeff Kileen, highlighting Continental Gold (CGOOF +0.5%), Premier Gold Mines (PIRGF +1.1%), and Pretium Resources (PVG -0.8%).
- Other smaller players with attractive projects starting up this decade include Asanko Gold (AKG), Golden Queen Mining (GQMNF +0.6%), and Orezone Gold (ORZCF -0.2%).
- ETFs: GDX, GDXJ, NUGT, DUST, GLDX, JNUG, RING, GGGG, JDST, PSAU