This is truly a stock picker’s market: Chen Lin focuses on self-funded miners #Gold

Some of his picks are: Orvana, Alacer, Pretium, Petaquilla, Ocena Gold 

The gold and silver miners are going through a terrible time. Some of the problems are due to the weak gold and silver price, but a lot are due to mismanagement. The miners could be weakened further as we head into the summer, which is the traditional weak season. This is truly a stock picker’s market because people are throwing out the baby with the bath water. Right now, I’m focused on special situations. The one thing I hope comes out of this correction is that miners learn lessons from their past failures and that they can run lean and efficiently. Then if gold and silver take off, we can have some huge rallies in the stocks, just as in 2009. -

Some of his picks are: Orvana, Alacer, Pretium, Petaquilla, Ocena Gold

Raed the whlo interview online on JuniorMiningNews.com here: Chen Lin focuses on self-funded miners | JuniorMiningNews.com

The MasterMetals Blog

#Inmet Bondholders Raise Question of Covenant Breach in Takeover -$FM Bloomberg

Any more news on this?

Investors and analysts are questioning whether First Quantum Minerals Ltd. (FM) created a breach in terms of $2 billion bonds of Inmet Mining Corp. when it acquired the Toronto-based miner.The bonds carried restricted-payments covenants, which limit the amount of cash an issuer may use for distributions to shareholders such as stock repurchases or dividends.In the C$5 billion ($4.8 billion) acquisition in April, Vancouver-based First Quantum employed a bridge loan to buy Inmet, using the target’s assets to support the financing, then paid off the short-term debt with cash, creating a “strong argument” that First Quantum breached the payments provision, according to a report by the researcher Covenant Review today.“It certainly raises concerns, and we’re currently examining this,” said Kevin McSweeney, portfolio manager at CI Investments Inc., which oversees about $74 billion of assets. “We know that they couldn’t have paid out Inmet shareholders directly. We have questions and doubts about how the company structured these transactions to get around the restricted-payments limits and whether compliance with this covenant was maintained.”

Read the whole article on Bloomberg:  Inmet Bondholders Raise Question of Covenant Breach in Takeover - Bloomberg

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BofA: '#GOLD BEARS BEWARE'

"The downtrend remains for 1212/1200, but this decline is in its final stages. Bulls need a move above 1270 to indicate a base and turn.”

BofA: 'GOLD BEARS BEWARE'

Business Insider Australia

Matthew Boesler Today 9:32 AM

 

If you’ve been betting on gold this year, watching it fall day after day – including a few spectacular crashes, like the one we’ve seen over the past few trading sessions – has probably not been fun.

Click to enlarge.

As the daily candlestick chart at right shows, the shiny yellow metal hasn’t spent many days in the green.
Today, the price of an ounce of gold dropped below $1200 for the first time since August 2010, hitting a low of $1196.10 this afternoon before bouncing back to current levels just above $1200.
BofA Merrill Lynch technical strategist MacNeil Curry argues today in a note to clients that “further gold downside [is] limited.”
“While Gold has been on a relentless downtrend, the weekly ADX (a measure of trend strength, not direction – see chart 1 for additional info) says further weakness is limited. Indeed, previous ADX readings of 50 have resulted in reversals of between 35% and 36% of the flat price,” writes Curry. “GOLD BEARS BEWARE. For now, the downtrend remains for 1212/1200, but this decline is in its final stages. Bulls need a move above 1270 to indicate a base and turn.”
The chart below shows the ADX, or “Average Directional Index,” that Curry references.

The second chart shows the potential support levels flagged by Curry.

 

 

BofA: 'GOLD BEARS BEWARE' | Business Insider Australia

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