Anyone familiar to the gold mining business knows about the acquisition of mid-tier producer Osisko Mining by Agnico Eagle and Yamana Gold. Excess working capital of Osisko was pooled in a new gold streamer named Osisko Royalties.
Tuesday, 24 May 2016
Monday, 9 May 2016
Gold miner rally: Bull market logic
Wild gyrations
Ever since bottoming barely above 100 on Jan 19, 2016, the HUI gold miners index more than doubled. It closed at 226,1 on Friday May 6, up 125% from its trough or 103% year-to-date. However, after peaking at 233.5 by the Apr 29 close, we witnessed a week with wild gyrations, starting with a three days losing streak culminating in the 10.25% landslide loss on Wednesday May 4. Much overdone so it seems, since the Thursday recovery rally was in fact anticipating precious metals eventually firming on Friday May 6.
Subscribe to:
Posts (Atom)