Rob McEwen is pushing forward despite all market hesitation towards his goal - to be included in S&P 500. Now this dream looks to be as far away as his prediction for the Gold to hit 5,000 dollars. But Mr Gold Corp stands by his grounds and says that Gold will go to 5,000 and "even higher".
Some investors have become quite sceptical and short interest in McEwen Mining is hitting all time high on par with all time high short interest in Gold on COMEX. And here where Rob can pull up couple of aces from his sleeve again. He managed to reduce the expectations without big discount to previous growth plans for the company, the necessity to finance its growth right now or to sell Los Azules at the fire sale prices.
We are following Los Azules, TNR Gold and McEwen Mining here and do not provide any investment advise. For us it is interesting to see how this time total desperation in Junior Miners will be turned into the Greed once Gold will surpass 1300 and Silver will be solidly above 20 dollars.
Here where Los Azules can become the game change for McEwen Mining and TNR Gold. Rob was talking about "few hundred millions" for the asset and it could become a reality at some point contrary to total discount in the market place at the moment.
TNR Gold & McEwen Mining: Ross Beaty Buys 1 Million Worth of Shares In Lumina Copper TNR.v, MUX, LCC.v
"Recent research note from Mackie with target price of CAD 13.7 puts valuation of Lumina Copper and Taca Taca respectively at the 600 million us dollars and Raymond James has even higher target price of CAD 20.00. Whether Taca Taca and Los Azules will be able to achieve these valuations in the market remain to be seen, but certain insiders are voting with their money that recent valuations by Mr Market could be wrong again."
This week events in Argentina with OIl Export decree in place and Chevron moving with 1.2 billion investment can show that the situation in the mining will change there as well.
U.S. oil company Chevron Corp (CVX.N) signed an agreement with Argentina's YPF (YPFD.BA) on Tuesday to invest $1.24 billion in the Vaca Muerta shale oil and gas formation, thought to be one of the biggest reserves in the Western Hemisphere.
Rob McEwen is not just waiting for the stars to be aligned, but on track to deliver the valuation changing PEA on Los Azules in September. Company has reported the record production and very impressive increase in the resources in Mexico recently as well.
Please Note our New Legal Disclaimer on the Blog, including, but Not limited to:
There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.
We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.
Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.