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McEwen Mining shares: suitable as a strategic "buy-and-hold" investment in the gold sector
- The experts of "Hot Stocks Investor" keep the McEwen Mining's shares for a promising investment.
The price of gold now stands just before a very important buy signal. The price should now rise above the mark of $ 1,790 per ounce, chartists would expect a rally that should be the price of gold in 2013 to rise to new highs of over $ 2,000 an ounce. Scene experts like Rob McEwen expect in the long run even a gold price of up to $ 5,000 per ounce.
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Speaking of Rob McEwen: This was established in 1993 Goldcorp, which today bring a market capitalization of $ 10 billion on the balance. With McEwen Mining he wanted to repeat this success story.
His new company will review the stock market with $ 1.2 billion. Currently, the management focus on developing its five projects in North and South America. Two of them befänden already in production. Total operative McEwen mining resources of over 7 million ounces of gold, 205.1 million ounces of silver and 15.4 billion pounds of copper. The present production of 105,000 ounces should be extended to 2015 to 290,000 ounces. In addition, we wanted to meet by 2015 the conditions for a possible inclusion in the S & P 500.
The company is debt-free and the experts and the very high proportion of insider pleasing to the shareholder. Rob McEwen alone hold 25% of shares and forego a salary as CEO. Analysts at Dahlman Rose in late September had issued a buy recommendation for McEwen mining stock with a target price of $ 7.97.
According to the experts of "Hot Stocks Investor" the McEwen Mining's share is also highly suitable as a strategic "buy-and-hold" investment in the gold sector. (Issue 19 dated 10/08/2012) (08.10.2012/ac/a/a)
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