Readers may remember I jumped on the Ivanhoe Mines (TSX:IVN) bandwaggon on August 16th when the shares were $1.56. They rallied all the way to $2.59 on September 20th, before falling to where they are today, $2.06, because the company announced a $108 million financing at $2, the gold price has been sucking (a proxy for all metals stocks), and communication from CEO Robert Friedland has been fairly quiet over the past couple of weeks, although he did pony up another $25 million in the IVN financing to keep his personal ownership of IVN over 25%.

R.F.

I added to my core Ivanhoe Mines position today for 2 reasons; the first is promotion. Tonight Friedland is giving a speech in Toronto. I expect media and investors will be present. Friedland at the podium is like Wayne Gretzky with the puck. I expect the market will be reminded of Ivanhoe's merits in the press tomorrow (not that I will sell if the shares rally, I want to own IVN in to the double digits).

Secondly, this chart provided by the CEO technician demonstrates some support in the current range, and potential for a breakout from here.

IVN.TO_Daily_10.10.2013

Mining stocks are highly speculative and highly sensitive to a plethora of factors, both external and internal to these companies. Always do your own due diligence. This is not investment advice.

Related: Billionaire Mining Legend Robert Friedland Sounds Off