Wednesday, October 23, 2013

Gold: Rally Or Retest $1,200; 35 Stocks For Your Bottom Fish Radar -

Gold's Next Big Move?—Depends On Your Chart

Gold technicians are likely feeling woozy these days—just try and find a trend line to rely on. Up, down and all around, recent gold charts are starting to look like they were drawn by a drunk.

Gold's short-term charts have been trending down again and look somewhat bearish. The 3-month bullish up-trend from the June 28 $1,179.40 gold futures low—topping $1,400 late in August—now teeters close to August's low $1,271.80 support as it completes a bearish Head & Shoulders (H&S). We all know the yearly chart will be down unless there's a yearend golden miracle—it's first annual drop in 13-years—with gold's 2-year price now down over 31% from its 2011 $1,923 all-time high.

Zoom out and gold looks totally different. From $260 in 2001 to its 2011 all-time high, gold's long-term chart is a fairly smooth and consistent rise—however you will see two bumps in the road in 2006 and in 2008 with significant corrections of 22% and 29% respectively. Still above its long-term trend-lines, I see no reason technically or fundamentally why gold can't recover again to even higher highs.

Instead of a bearish 3-month H&S, others look back to the sudden $200 sell-off in April and see a bullish inverse H&S completing soon. The shape of the former charts seem more regular, while this chart's volume pattern may be more important. That's why technical analysis is considered subjective, although both H&S perspectives consider the August low gold price support a key level to hold.

As markets do often overshoot their trends, the sobering conclusion might be that even if gold retests $1,200, now or going into yearend tax loss selling season may be the time to Bottom Fish gold mining stocks. This is more about fundamental all-in costs, as most gold producers can't make money below that level. Many have already lowered forecasts and as they say the cure for low prices is low prices.

I also find support in knowing that the $850 1980 gold high works out to over $2,500 in today's CPI Adjusted dollars—with a whole lot more than three times as much fiat money around now. We also haven't seen a parabolic gold price spike yet—like we saw at the end of the 1970's gold bull market.

Start Your Own Gold Stocks Bottom Fish Radar

Monthly statements are an afterthought, and I don't always have time to login somewhere to track how my stocks and potential trades closed that day. One quick, easy and free solution is to signup at our website to set-up your personalized portfolio and watchlist. After logging in, look under our My Preferences tab, select My Watchlist & Alerts, and edit the sample stocks and price alerts the way you want them—under the Action column. Your watchlist is automatically emailed after any price alert is triggered—or select to also have it emailed after the markets close every weekday, or just on Friday's.

Below are 35 of the gold stocks on our bottom fish radar—filtered since late June's gold price low, for our homepage's Mid-Day Market Movers section and for our daily Hot Sheet then, and later in our Weekend Recap e-newsletter that is also posted at our website and to our syndicated News Blog.

Most of these small to mid-cap gold companies have established resources with producing mines or one in development. Notice how several of them have recently completed financings at prices higher than their current share price—some are even trading at or below their cash value!

Stocks are listed in descending order from the largest to smallest by market cap. Each includes its ~2-Year High, 52-Week High, 52-Week Low, Current Share Price and Market Cap. Ticker symbols and company names are also Quote Links for further research or to comment at our website. There's also a brief company description with the recent news headlines that caught our eye at that time.

 ~2YH |  YH  |  YL  | Now | MCap |       Tickers & Company Name       |       Description & News Headline
$22.00 $16.30 $3.81 $4.98 $1.88B (NYSE: IAG)(TSX: IMG) IAMGOLD
- mid-tier gold producer (6 mines on 3 continents) + REE and top 3 in niobium, lower power rates extends mine life at Rosebel
$23.00 $11.64 $2.99 $5.03 $1.2B (TSX: CG) Centerra Gold
- largest Western-based gold producer in Central Asia and focused on emerging markets worldwide, Updates on Kyrgyz Gov't
$3.25 $1.68 $0.42 $0.88 $969M (TSX: CEE) Centamin
- expanding its large scale, low cost Sukari Gold Mine in Desert Egypt and targets 450-500k-ozs per year, Q3 Preliminary Production Results
$2.40 $2.28 $1.12 $1.20 $728M (TSX: TXG) Torex Gold Resources
- well funded with 100% of the 29K-ha Morelos Gold Property (75% still unexplored) 180km SW of Mexico City, Q2 Results
$9.50 $4.94 $1.63 $2.38 $626M (NYSE: MUX)(TSX: MUX) McEwen Mining
- high growth gold producer in the Americas: San José/Los Azules in Argentina, El Gallo in Mexico, Gold Bar in Nevada
$14.76 $14.76 $4.71 $5.19 $518M (AMEX: SAND)(TSX: SSL) Sandstorm Gold
- streaming co. providing upfront financing for the right to purchase a percentage of a mine's gold at a fixed price
$45.00 $41.02 $3.54 $4.10 $426M (AMEX: ANV)(TSX: ANV) Allied Nevada Gold
- Achieves Record Gold Production and Sales in Q3 2013, Q2 2013 Net Income of $4.2M or $0.04/Share
$2.75 $1.17 $0.67 $0.85 $264M (TSX: SUE) Sulliden Gold
- 100% of the Shahuindo Au-Ag Project in N-Peru, $40M bought deal financing at $1.02/share; Ministry of Energy & Mines Approval
$3.48 $3.48 $1.36 $1.50 $216M (TSX: TMM)(AMEX: TGD) Timmins Gold
- 100% of its San Francisco open-pit heap-leach mine in Sonora Mexico targets 125-130Koz 2013, Record Q3 29,139oz
$5.60 $4.85 $0.56 $0.73 $184M (AMEX: BAA)(TSX: BAA) Banro
- (DRC Africa) Q3-13 Twangiza Mine Production Update, Operations Overview & Comment on Addl. Funding for Namoya Project
$2.75 $2.43 $1.10 $2.12 $160M (TSXV: PRB) Probe Mines
- with ~$38M cash continues to intersect high-grade gold at its Borden Gold Zone, plus 100% of the Black Creek chromite deposit also in Ont.
$4.50 $0.99 $0.165 $0.38 $158M (AMEX: LSG)(TSX: LSG) Lake Shore Gold
- 3 wholly owned, multi-million oz. plays in the Timmins Gold Camp, Solid Q3, Completes Mill Exp., 3K+ TPD Prod.
$6.00 $2.11 $0.39 $0.47 $121M (AMEX: GSS)(TSX:GSC) Golden Star Resources
- focused on its Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana, Prelim. Q3 2013 Production Results
$9.00 $5.75 $0.52 $0.58 $102M (TSX: CSI) Colossus Minerals
- bringing its 75% owned Serra Pelada Gold-Platinum-Palladium Mine to production, Completes C$37.95M Bought Deal Financing: $.75/sh.
$1.00 $0.72 $0.21 $0.33 $88M (TSXV: TGM) True Gold Mining
- Receives Burkina Faso Enviro. Permit for Karma Project; Final Metallurgical Results Validate Heap-Leach Process; Drill Results
$1.50 $1.50 $0.60 $0.85 $78M (TSXV: AOT) Ascot Resources
- drilling continues at its Premier and Dilworth Au-Ag U.S. properties, Intersects 23.72 Meters of 5.09 Grams/Tonne Gold at Martha Ellen
$6.00 $1.72 $0.62 $0.69 $61M (AMEX: XRA)(TSX: XRC) Exeter Resource
- focused on its 100% owned Caspiche Au-Cu project in the Maricunga Gold district of Chile, Embarks on a New Strategy
$3.50 $1.04 $0.09 $0.16 $59M (TSX: SGR) San Gold
- producer, explorer and developer with the Rice Lake Mining Complex near Bissett MB, Drills New Gold Zones; $4M P.P. at $0.125/sh.; Q2
$0.75 $0.39 $0.05 $0.08 $56M (TSX: CPN) Carpathian Gold
- developing near-term production on its 100% owned Riacho dos Machados Gold Project in Brazil, $16M Bought Deal, 114M+ shs. at $0.14
$1.60 $1.03 $0.185 $0.23 $42M (TSX: IRL) Minera IRL
- Latin American focused precious metals mining and exploration, $80M Financing for Don Nicolas Gold Project From Argentina Sources; Q2
$0.40 $0.28 $0.07 $0.15 $40M (TSXV: MTO) Metanor Resources
- 4-Quebec and 1-Ontario gold properties, 30K Meter Drill Program at Bachelor and Barry; Produces Record 4,312 Oz. in August
$1.40 $0.42 $0.065 $0.09 $37M (TSX: CRK) Crocodile Gold
- 3 operating mines in Australia, Ups Gold Production 14%+ to 55,206oz.; $11M Operating Cash Flow on $65.6M Q2 2013 Revenue
$1.50 $0.35 $0.10 $0.11 $37M (TSXV: VIT) Victoria Gold
- 100% of Dublin Gulch which hosts the Eagle Gold Deposit in the Yukon, Achieves Major Milestone with Receipt of the Quartz Mining License
$2.75 $0.79 $0.16 $0.19 $33M (AMEX: CGR)(TSX: CRJ) Claude Resources
- 100% owned 17.2K-ha Seabee gold production + exploration & development at Madsen and Amisk, to Amex Delist; Q2 Results
$10.50 $2.81 $0.30 $0.33 $32M (AMEX: THM)(TSX: ITH) International Tower Hill Mines
- 100% of the world-class Livengood Gold Project NW of Fairbanks Alaska, Files NI 43-101 Technical Report
$1.10 $0.45 $0.16 $0.29 $30M (TSXV: CGT) Columbus Gold
- Drills 133m 1.28 g/t Au (30.5m 3.24 g/t Au) +Ag at Bolo in Nevada; Options 50.01% of Montagne d'Or Au Project Valued at $30M Min.
$1.50 $1.35 $0.095 $0.13 $25M (TSX: ATN) Atna Resources
- with a North American focus, Briggs Mine Reports Strong Q3 Production; Closes $5.8M P.P at $0.16/share; Near Record Gold Oz. Mined
$0.69 $0.69 $0.045 $0.50 $19M (TSXV: TXR) TerraX Minerals
- 3,562-ha on the prolific Yellowknife belt, Assays 62.90 g/t Au Over 5.00 m Less Than 50 M From Surface at Northbelt Property, NWT
$1.50 $0.58 $0.18 $0.20 $17M (TSX: LPK) Lupaka Gold
- focused all across Peru with 100% of its flagship 5.5k-ha Crucero Au and Invicta Au-Ag-Cu projects, plus 17% of V.LCY AntaKori Cu-Au
$0.40 $0.40 $0.025 $0.21 $17M (TSXV: GEG) Ginguro Exploration
- focused on its Pardo paleo-placer gold property in northern Ontario, Samples 40.1 g/t Gold Along 22.5 Meters at Pardo 007 Zone
$1.50 $0.75 $0.10 $0.20 $16M (TSX: OMI) Orosur Mining
- gold producer/exploration co. focused on South America with the only producing gold mine in Uruguay, Q1 Production up and Costs down
$0.15 $0.135 $0.02 $0.08 $13M (TSXV: EGX) Ecuador Gold & Copper
- Condor Project and Santa Barbara Au-Cu porphyry, ups indicated mineral resources to ~6.4Moz. Au + inferred ~2.1Moz
$0.10 $0.06 $0.01 $0.03 $6.4M (TSXV: GAL) Galantas Gold
- 100% interest in Ireland's only operating gold mine, Drills 2.8 Metres High Grade Gold on Joshua Vein
$1.20 $0.26 $0.04 $0.04 $5.7M (TSX: EVG) Evolving Gold
- focused on Nevada's Carlin Trend and its gold discovery at Rattlesnake Hills WY, Corp. Update; Closes Non-Brokered P.P. 6M $0.05 units
$0.60 $0.17 $0.04 $0.07 $2.6M (TSXV: BG) Barisan Gold
- two gold and gold-copper properties in Indonesia's Aceh Province—northern tip of Sumatra Island, Begins Drilling at Upper Tengkereng

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