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"Juniors" for a Gold Rebound
12/28/2016 8:00 am EST
The technical evidence for a gold bottom continues to build, explains Brien Lundin, editor of Gold Newsletter and an expert in the speculative area of junior gold miners.
The gold price continues to follow the lower Bollinger Band down, and the 14-week stochastic remains in deeply oversold territory
In the last few weeks the latter two have barely budged, while Almaden has inexplicable declined quite a bit. All three remain buys, with Almaden an even more attractive opportunity now.
Another to add to the list is Mariana Resources Ltd. (MARL.V), a company in which I personally have a position.
Mariana controls 30% of the Hot Maden project in Turkey, where drilling has outlined 3.43 million ounces of high-grade gold resource in the indicated category, with about another 450,000 ounces of interred resource.
This is already a world-class gold project and there remains considerable potential for new discoveries as much of the prospective area remains untested.
Mariana represents a very large, extremely high-grade gold resource that is being severely undervalued by the current depressed gold market. That offers us tremendous leverage to a gold rebound in the new year.
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