Lundin Mining (TSE:LUN) Down as Base Metal Stocks Take Hit

Lundin Mining (TSE:LUN) (OTC:LUNMF.PK) dropped 7.89, or $0.30 a share in Toronto, and 9.84 percent, or $0.36 a share in New York, as metals stocks continue to have downward pressure on share price with investors going temporarily to cash for safety with gold going through a correction with investors taking profits.

Another key element in metals prices and miners taking hits is the uncertainty surrounding how the battle against inflation in China will hurt metals demand, as well as the fallout in Europe from their debt crisis, where it is uncertain whether or not the region can handle it, and that, too, could have a dramatic impact on demand for precious metals.

Lundin reported recently that they had turned things around since last year, generating a profit of $38 million, against a loss last year during the same quarter of $8.6 million.

They also reached an agreement last Friday with unions concerning their Neves-Corvo copper mine in Portugal.

International Tower Hill Mines (AMEX:THM) Continues Strong

International Tower Hill Mines (AMEX:THM) has been a solid performer among gold mining stocks while the gold correction was going on, and that speaks well for the company.

It's possible International Tower will reach a low that is higher than in the past, and from there find a much higher high than it has in its relatively short history.

The range over the last twelve months has been from $2.35 to $8.08, and has been moving sideways so far in 2010, and could be ready to go up in price and break through the $8.00 barrier on a consistent basis.

This is a gold mining stock worth taking a look at and watching closely. A significant dip of any kind could be a strong buying opportunity.