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« The Case for Gold | Main | Send in Your Questions for Jim Sinclair Ask the Expert »
Sunday
Nov102013

Brutal Past 24 Months For Precious Metals Investors, Nearing A Bottom – Rob McEwen

 

(Kitco News) - McEwen Mining Inc. (TSX, NYSE: MUX) swung to profit in the third quarter of 2013, posting a profit of  $3.3 million, or 1 cent per share, compared to a loss of $2.7 million, or -1 cent per share, in last year’s comparative quarter.

Gold equivalent production jumped 45% to 36,494 ounces of gold year-on-year, breaking down to 20,483 ounces of gold and 832,594 ounces of silver, the company said.

Rob McEwen, chairman and chief executive officer of McEwen Mining, was blunt about the past few years for precious metals investors on a conference call late Friday morning.

“The past 24 months for precious metals investors has been brutal, but I feel like we’re nearing a bottom,” 


To read this interview in full please click here.


In September 2011 the Gold Bugs index, the HUI stood at 630 as gold prices peaked, since then both have trended lower with the HUI losing about 65% of its value. The bottom has been called a number of times and after such a dramatic decline its difficult not to think that we are there now. However, as we all know the timing of any investment is crucial to its success and that is exactly what we are trying to do here, trying to pick advantageous entry and exit points. If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

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