Wednesday, January 15, 2014

Eppur si muove, Rio Alto edition

It's a lacklustre day for junior miners, with gold pinned below $1250, and yet:

Rio Alto is still going up.

At this point I don't give a crap if they're in the business of making spam out of little old ladies. It's a horizontal resistance break on volume, and it's up when everything else sucks. The chart is the chart.

There's a couple pivots at $1.95 and another spot at $2.09 or so. Til then, it's free money, I guess.

1 comment:

  1. I guess that the Q4 production number will not be a huge surprise to the market.

    I remember back in 08 when Keegan was selling for less than its cash on hand and you got all its gold in the ground for free. December and tax loss selling was Rio's Keegan moment. Who in their right mind would sell a debt free gold producer that is profitable at gold USD1000 down to a p/e of 3?