McEwen Mining has retested the MA200 after breakout and closed right above it on Friday. This week action will be very interesting.
We do not believe that this news was the reason behind The Double Volume spike in McEwen Mining on Thursday. We will continue to monitor the situation on who and why was covering short position or maybe even taking the new long position in this company.
"McEwen Mining is strongly Up today - more than 11% on 7 mil shares. With Gold and Silver markets down after recent breakout we can anticipate some news from the company. Rob McEwen was taking about upcoming Los Azules Copper PEA in September and M&A ideas to combine with another Gold Mining company to reach his goal of being included in S&P 500.
"TNR Gold provides even more risky and leveraged special situation play and now depends on Rob McEwen's Midas Touch - company holds 1 million shares of McEwen Mining and have back-in right into the part of Los Azules project. Insiders are accumulating the company shares, holding the majority stake in the company and provided long term debt which has financed Shotgun Gold project 43-101 resource estimate in Alaska this year."
Rob McEwen Shares his Views on Market Conditions and Future of McEwen Gold Mining Projects in Mexico, Argentina and Nevada MUX, TNR.v
Update 27.08.2013 P&F McEwen Mining Chart has printed $5.00 target price after yesterday Double Top breakout.
"The whole picture has been set up for the major move in Gold and Silver now. McEwen Mining will enjoy its high leverage to the Gold, Silver and Copper price. Rob McEwen is on the road telling his story and delivering results.
Shorts are busy now covering their 27 million shares Short Position in McEwen Mining as of August 15th, 2013 and it will provide the fuel for the upside breakout."
McEwen Mining Inc.: El Gallo Regional Exploration; Twin Domes Drilling Intersects Significant Near Surface Gold Mineralization MUX, TNR.v
"His observations about the changing trend in the commodities are extremely important - he is widely followed by the institutional investment community and they can start to reallocate their assets accordingly. The help to the commodities markets came from the places least expected: China reviving growth and Europe coming out of recession.
This move will be highly beneficial for our darlings: McEwen Mining and TNR Gold with world class Los Azules copper deposit unlocking its value."
"To make this dramatic and pleasant for Survivors picture come true we need just one thing - Pros with the money coming into the market, without them it will always be only the wishful thinking. We can see them coming now."
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