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Precious Metals Take a Breather

Precious metals are taking a healthy breather after an impressive first half move as I expected.

 

By Jeb Handwerger

Look for pullbacks to the 20 and 50 day moving average to add to positions.  Remember in bull markets in junior miners if you hit a double or triple take partial profits especially when very overbought so one can play with the house’s money and look to add into positions which are correcting to their upward trends.  For instance, take a look at K92 Mining (KNT.V or KNTNF).

Since K92 went public in May and had its initial run-up to a $1.30 it has been basing for six weeks between $1.30 and $1.  Notice the bullish MACD Crossover and increase in volume.  This could indicate a breakout past $1.30 into new highs.

K92 just announced news that they increased their financing from $5 million CAD to $12.5 million CAD.  This tells me big money is gaining interest in this near term producing gold asset and believe this project will get back into production in the near term possibly this year.

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http://www.k92mining.com/2016/07/k92-mining-increases-financing-to-12-5-million/

See my recent interview with K92 Mining (KNT.V or KNTNF) CEO Ian Stalker by clicking on the following link:

https://www.youtube.com/watch?v=cPSq_8LsQHU

Ian has around four decades of mine development expertise successfully starting eight major mines.  Ian became famous in the summer of 2007 when he sold his company UraMin to Areva for $2.5 Billion executing a great exit for shareholders at the top of the uranium bull market.

Could K92 be Ian’s next big win in the mining sector as the project comes back into production?

“I think the Kainantu project is one of the most prospective in Papua New
Guinea.  The strength of the structures and veins are most impressive. And
they contain significant high grade gold(NYSEARCA:GLD)!”

– ALEX DAVIDSON, K92 Mining Advisor & Former Executive Vice President
Barrick Gold Corporation

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