The Mexico-focused miner has benefitted from an ongoing silver rally and even more so than many of its peers, as it chose not to diversify into other metals.
Having hit a target, silver has formed what is believed to be an intermediate top over the past five weeks or so, which it should soon start to descend from, says technical analyst Clive Maund.
For those unfamiliar with french, Val d’Or translates as Valley of Gold. And it’s an appropriate name: the city grew up around two gold mines and mining remains the only significant game in town.
The U.S. electric power sector burned through a record amount of natural gas in recent weeks, a sign of the shifting power generation mix and also a signal that natural gas supplies could get tighter than many analysts had previously expected.