IKN

Tis rigor and not law

Franco Nevada (FNV) and sixty

We’ve mentioned Franco Nevada’s issues with the U$60 level on a couple of recent occasions (here and here to be precise). So the chart today…
…has my attention. There you see:
1) FNV moving significantly above U$60 this morning.
2) On real fundies too, it’s the reaction to its 4q15 and year-end results.
3) Volume strong.
Can FNV make this stick? Only time will tell (and if gold reverses all bets are off, por supuesto) but to my eye this time has a better shot than previous occasions. And if it does, it would be a strong bullish signal not just for Lassonde/Harquail but for the whole sector, as FNV has proven and franked lead indicator credentials.
Reality, y’see.

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