DamnGood PennyPicks Newsletter
LRDR Is My New Pick
Hello Wall Street Maniacs!
Here’s a play that deserves your urgent and undivided attention. I came across this gem while doing some research in the gold market and discovered that Wall Street has completely missed this company`s incredible gain potential.
LRDR is a must-see. The play’s 52-week high of 84 cents looks ready to be eclipsed based on the recent trading undercurrent. I am talking no less than 393% being added to the company’s lower valuations and a massive explosion in volume.
Market valuation has been racing towards the first resistance point and my due diligence tells me even the second resistance point may be in jeopardy soon. We are talking nothing less than a breakout here folks so fasten your seatbelts.
The technical setup on this one is a dream, and right now traders who act quickly can benefit from a huge discount on LRDR’s true value. Put another way, if you get in now, the gain potential on LRDR is more than 1,000%.
But there’s more.
You see, LRDR delivered spectacular news last week, announcing its intent to start testing gold samples before shipment. This news is yet to be priced in and with gold prices hitting a 5-week high; LRDR should see a huge spike in valuation.
The opportunity for profits here is huge folks, so don’t let this play slip through your fingers.
LRDR is in line for potentially huge spikes in valuation given the extremely buoyant bullion market. Gold is spotting at a 5-week high and analysts expect the bull-run to continue for at the next few weeks.
LRDR has just announced plans to conduct geological sampling tests on its gold deposits ahead of any shipment. This means of course that the company can benefit directly from the rising price of gold.
LRDR is trading on an extremely bullish setup, with rising volume and market valuation trending off support. Recent trading saw volume spikes of 1.866 and 3M+ shares changing hands.
LRDR delivered a taste of what’s to come last week with market valuation delivering combined gains of nearly 20%.
LRDR is aggressively exploiting its 4,000 acre Pony Mountain Gold property package. The company is in the advanced stage of securing a crushing plant with a 100-ton an hour capacity.
LRDR has a RSI of 49 and strong neutral grounding for trades to exploit its gain potential.
LRDR gain potential is now more 1,058% courtesy of its 52-week high of 84 cents.
LRDR has seen a huge boost in its underlying moving averages and right now the play’s 50-day MA is up 224%.
LRDR (Laredo Resources Corp.) is a publicly-reporting Nevada corporation in the business of mineral exploration.
LRDR On November 2, 2012, the company entered into a letter agreement with Magna Management Ltd. (“Magna”) under which Laredo has been granted the exclusive right, to purchase all rights held by Magna in the property known as Pony Mountain Gold.
LRDR’s Pony Mountain Gold property is comprised of a approximately 4000-acre package of properties containing several previously-mined, underground hard-rock vein systems, such as the Mountain Cliff, Strawberry-Keystone, Amy, and Atlantic-Paciﬁc (A-P) mines.
LRDR has already engaged qualified miners to help with the excavating work needed to capitalize on Pony Mountain Gold’s proven mineral deposits and this thing is primed to explode.
Rising Gold Prices Excellent News for Mining Companies
The prospect of generating huge revenues from gold deposits just got a whole lot brighter courtesy of the rising price of the yellow metal.
The gold spot price has been trading around five-week highs since Monday, supported by bets that the US Federal Reserve will this week keep its ultra-loose monetary policy at its current levels. The Fed policymakers meet today and Wednesday to review the central bank’s policy stance and the state of the US economy.
Gold was trading yesterday at $1,350.64 after having risen to $1,355 an ounce on Friday, its highest level since September 20.
The focus this week will be on the Federal Open Markets Committee meeting, which is expected to provide some sort of guidance on the Federal Reserve’s plans for its quantitative easing programme. The stimulus programme, through which the Fed currently buys $85 billion in Treasury and prime mortgage debt every month, has in the past several years been a key contributor to gold’s 12-year streak of gains.
The precious metal has struggled this year since expectations – generated by the Fed itself – that wind-down of the stimulus programme would start at some point later in the year. This sentiment has been reversed though as a result of the partial federal government shutdown and recent releases of mixed US economic data. The prevalent market expectation now is for the Fed to postpone tapering until well into 2014.
Reuters quoted Brian Lan, managing director of GoldSilver Central Pte Ltd, as saying: “We believe the tapering will definitely be delayed and that`s positive for precious metals.” Lan expects that the gold price “will close above $1,400 by the end of the year”.
This week traders will also be monitoring closely physical demand in Asia, which has been softer because of the higher gold prices.
In India, the world’s largest gold buyer, premiums soared to a record high last week, driven by government restrictions on gold imports that are squeezing supplies ahead of the Diwali festival of lights in November.
Premiums on the Shanghai Gold Exchange fell into negative territory on Monday, although they later recovered to about $1 an ounce, far off the highs seen in April-May when premiums in Shanghai reached $30 an ounce.
“Physical demand is quiet because of higher prices. The only market that is buying is India,” said Brian Lan.
Mr Lan may be muted in his expectations but elsewhere analysts are quite upbeat. HSBC for instance in a research note released in September, said it is raising its 2013 average price estimate for gold to $1,446 an ounce, up $50 from its previous forecast, based on the surge in physical buying. It left its 2014 and 2015 forecasts unchanged at $1,435 and $1,395, respectively, and its long-term forecast unchanged at $1,500.
“We see a broad price range this year of $1,500-$1,225 for the remainder of this year. This compares to our previous range of $1,375-$1,125. We are raising our trading range in response to strong physical demand and reduced scrap supplies. This increased physical demand should offset the drop in investment and along with stagnant mine output, should put a floor on prices and help buoy prices,” they said.
The “massive” increase in physical demand, particularly in China, staved off further losses for gold caused by investors selling their holdings of exchange-traded funds and net-long positions on the Comex, based on the reduced demand for safe havens and expectations of U.S. monetary policy shift, the firm said.
Laredo Resources Provides Pony Mountain Update
PONY MOUNTAIN, Mont., Oct. 16, 2013 (GLOBE NEWSWIRE) — Laredo Resources Corp. (LRDR) (“Laredo”) announces that M & W Milling and Moen Excavation are now hauling from dumps of ore material located on the Pony property to a staging area at the base of the property, in order to be prepared for crushing and shipping. The Department of Environmental Quality DEQ has issued a permit for this activity.
The material will undergo testing by a resident geologist to determine the exact grades of gold in the stock piles to assist in monitoring the material before any shipment.
The dumps have already undergone bulk sampling under the direction of Moen Excavation over the past several months, and samples have been ICP scanned, which involves laboratory testing for any levels of impurities and/or contaminants, in order to eliminate any risk in subsequent processing. It is intended to move and locate a crushing plant to the staging site later this month.
The crusher has a capacity of up to 100 tons an hour depending upon the nature and size of the material.
Dumps are low grade ore material that have previously been excavated from tunnels drifted in to high grade zones located at previously mined locations on the property.
The Pony Mountain Gold property is located in the premier gold-producing Mineral Hills District in South Western Montana. This 4000-acre package assembled over decades by a local partnership.
LRDR’s focus is your catalysts because right now there’s no telling what sort of breakout gold will see in the coming weeks. The company’s decision to focus on sampling and readying its deposits for shipment is excellent for its share price and I expect nothing less than a spike.
This spike has a potential for no less than 1,000% in gains folks so you can’t afford to nod off on LRDR.
Begin your LRDR research immediately! I expect the stock to make moves and I want my readers on their toes and prepared to capitalize. LRDR is trading at undervalued levels and wants to move so don’t let the play race north without you.
To learn more about LRDR please visit their website: http://www.laredoresources.com/
Reach out to me with any questions.
Jeff “The Mirkinator” Mirkin
I Answer All Email
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