Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

The Ultimate Proxy for the Destiny of the Gold Price

Our good friend John Kaiser put out a note about Midas Gold (TSX: MAX)(OTC: MDRPF) recently that I wanted to share with you.

Midas has been a top pick of two of the contributors to Hard Asset Digest — our premium monthly publication. 

Shares have broken out recently from below C$0.70 to above C$2.00 as Midas approaches the end of a long permitting road for its massive Stibnite gold project in Idaho.

In a recent note, John outlines a case for Midas shares to climb to C$8.12 based on current gold prices… and much higher based on higher gold prices.

I point this out for a few reasons…

First, you could have seen a triple-bagger already if you’ve been reading Hard Asset Digest every month.

Second, John is no stranger to the junior mining market. He spent six years as a research assistant with Continental Carlisle Douglas, a Vancouver brokerage firm that specialized in Vancouver Stock Exchange listed securities. Then he went on to Pacific International Securities where he was research director for five years before branching out into newsletters and going to work for Bob Bishop (another friend of this publication).

And he’s agreed to share some of his insights on the current gold bull market with us. He’s saying Midas Gold “is destined to become the ultimate proxy for the destiny of the gold price.” And that:

At the current gold price the stock would be worth $5.26-$8.12 once a permit is in hand. But look what happens if you plug in a $3,000 price: a $10-$15 price range.

He outlines his case as well as covers the macro gold market in his recent note, which you can find for free here. 

And I’ll be having him on as the September guest for Hard Asset Digest next month. So if you haven’t checked that out yet… you should do so now by clicking here. 

The guys who’ve been giving us gold picks every month have been absolutely crushing it!

Yours in profits,

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.