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speedybure (< 20)

Precious Metals Miners Starting To Trade On Fundamentals



May 21, 2009 – Comments (0) | RELATED TICKERS: SLW , AUY , AEM

Those of you who have read my previous posts know how bullish I'm on G&S miners. I wish to comments on the price action as well as how favorite miners have done.

 Agnico Eagle - Took a brief hit, but has responded nicely, as the market has realized reducing CY production slightly may prove to be a net positive. The fundamentals remain intact and I still think $80-$100 price target by the end of the year is very possible.

 Yamana Gold - My favorite gold miner has broken out as well (relatative % compared to a month or so ago when gold hit $1000. It was likely due to a good quarter than a few candian analysts critisized initially, but the accelerating increase in production in March shows Yamana may be about a month behind schdule, which is nothing. I see this reaching somewhere between 16-22 by the end of the year.

 Royal Gold- Announced a 30% increase in gold reserves yesterday and 25% increase in silver. I know prefer this over franco-nevada and king of the gold royalty equities.  Silver Wheaton - BOY OH BOY.. I think this bad boy can still double by EOY 2009, then the sky is the limit. Production increased again, just a month or two after the annoucnement of the silverstone aquisition. 32-34m oz by 2012.

 jaguar Mining - My favorite junior has more than doubled since Jan, and i don't see it slowing down. I see another double by the end of the year

 Redback- Up 35% since I first mentioned it- Although i think it is very undervalued, i took my initial investment off the table due their mines being located in Africa.  

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