Gold dropped below $1,600 an ounce yesterday - its lowest close since July - as technicians talked of a new, bearish phase for the "yellow metal."
Needless to say, the gold-price slide has been particularly tough on mining stocks. Gold-miner ETFs plunged 4% in yesterday's gold selloff, after the latest U.S. Federal Reserve minutes revealed that central bankers are sharply divided about whether to continue the current quantitative easing initiatives.
A look at yesterday's results demonstrated that, in selloffs like that, tiny "junior miners" are extra brutalized.
But one junior mining stock may be primed for a big upside move - even if the yellow metal doesn't rally, resident commodities expert Peter Krauth told me this week.
Money Morning's Executive Editor, Bill Patalon, just found out that a CEO of a lucrative defense company recently snapped up 30,000 shares of his own stock. Bill expects shares to go up 108%. Here's why...