The gold miners’ stocks are rallying on balance again, following their recent multi-month correction. For several weeks now they’ve been carving both higher lows and highs, which sure appears to be forming a nascent uptrend.
As a result of the distribution, Gold Resource shareholders of record will receive one (1) share of Fortitude Gold for every 3.5 shares of Gold Resource Corporation common stock they hold. The ex-date is expected to be December 24, 2020, one business day prior to the record date.
Then, if things go the way it appears they will, 500 +/- will be like shooting fish in a barrel because there is no notable resistance between 375 and 500.
The behavior of the mining stocks since early August is the reason why I am emphatic in recommending to never go “all in” and to keep plenty of cash on hand to take advantage of market pullbacks. The sector had a massive up-cycle since mid-March.
Equinox Gold announced a friendly takeover of Premier Gold, which along with its development stage projects and those which will undergo expansion, will create a high-growth mid-tier producer with a declining cost profile. $EQX
The gold miners’ stocks are finally perking up again, after spending months slogging through a grinding correction. Contrarian traders are taking notice, starting to redeploy capital in this high-potential sector
The Metals look like they've bottomed but what next? As the end of 2020 is nearing, it likely the metals and mining stocks trade in a range before the seasonally strong begins in early Q1.
