RE:Why longs?Largely in the hands of institutional investors now, including 'Large' hedgefunds - who continue to manipulate the mining stocks by shaking out the fearful. It may also be because of ELDs recent decision to offer notes at 6+% to reduce/ eliminate debt at 9+%. (A good move!)
They obviously wanted Greece mines to be debt free so that they can attract the right partner to either share in or sell off Greek holdings to say a Barrick or Newmont that wants more gold plus larrge copper holdings.- Greek mines fit the bill. They are in a much better bargain position with any prospective aquisition partner.
Cheers to the patient investors - unloved miners will regain their popularity based on earnings averaging above US $1700+