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General Mines of Idaho (GMO)
General Mines of Idaho, Inc. has been booming the past two days, rising nearly 30% one day and then nearly 20% the next on very heavy volume. There is no news explaining why the sudden interest. I first bought around 2.2, and now it's over 4. I sold about 1/3 of my position yesterday, recognizing that there may be a pullback today or in the next few days, but this could be just the beginning of an extended run. Why? For one thing, GMO is positioned to become a leading producer of molybdenum, with a future value far greater than the current stock price even if the price of molybdenum drops. Their Mount Hope project is so promising, and good progress is being made to bring that into production. I think this is a great stock to own, even after the recent run-up, but I suggest waiting a couple days for a possible pullback, and then adding to your position.
The precious metals sector also looks poised for a violent rally in the coming month or two. If you don't own some silver mines or cold mines, I suggest getting in now. Some top picks are Endeavour Silver (EXK), Silver Standard Resources (SSRI), Silver Wheaton (SLW) and for juniors, consider Clifton Mining (CFTN.pk), Fortuna Silver, Avino Silver (ASGMF.ob), and Impact Silver.
For gold, I like Yamana Gold (AUY) and Minera Andes (MNEAF.ob). A good mutual fund is Gabelli Gold Fund (GOLDX) for less stress and great returns.
And stock up on silver coins!