All that glimmers has not been gold the past few weeks, but a few leaders in the PM sector have held up well, and a few large cap juniors that needed to hit bottom appear to have done so. We've cherry picked a few of the better performers from the past few weeks to see where to put our money - if anywhere - in the PM sector
Detour Gold - Hit another support level at $15. With gaps in the $14.4 and $13.4 areas, $12.5 looks possible on its own merits, but probably only if gold fills the 1430 gap area.
ANV - Looks like they won the race to the bottom. Finally got flow rates up on their leach pad and put out a press release reasserting the value of their ore body and abililty to fund their $1.3 billion expansion. Shorts went long in a big way on record volume.
This bodes well for the sector as a whole as this major component needed to reverse course for the sector to stabilize. There will almost certainly be positive divergence with gold at these lows, and weakness in the metal should be a great opportunity to get into a new floor on suddenly underpriced assets like this Nevada monster pit project.
B2GOLD - BTO . The largest GDXJ component as of now. Not an especially comforting pattern, as most of the rest that have looked like this have collapsed. Current pattern will likely consolidate, but I don't think it's another h/s waiting to collapse. One could argue the major breakdown already occurred this spring as it regathers in a value area around the 100 fib extension and multiyear support. Things are going well at it's 2 Central American mines - 21c / share annual earnings as of 3/28/ 13 , solid value even with gold at 1550.
TGD - ROE leading gold junior producer. Doesn't look like the gift is going to keep on giving here. This one actually did shoulder whereas most retested lows or cratered further on the recent gold retest. Holding up very well today as gold does some business refilling this weeks gaps. Great positive divergence here bodes very well for sector.
TAHO - We've highlighted TAHO the past few weeks, and they actually broke out on recent news they received their final "exploitation" license. Shorts did a 180 beeline at $15.5 and it hasn't looked back much since.
REMX - Elsewhere, there is evidence that some serious dough has come back into the spec metals sector. Big volume on rare earths that were in freefall, many down 80-90%. Guess we don't need those catalytic converters and regenerative brakes after all.
