Agreed. But when can be a long time. It would have come home here in US earlier, but EMEA, China and Japan followed our route and are now making us look good by compare. When one large country has serious problems, then hard assets regain the luster.
bq, Long term accumulation of PAAS continues as dividends are plowed back into buying more shares on dips. Had enough dips for awhile and looking forward to the pops! Average cost on PanAmerican is still well under $8/sh - dcp
It's not going to go ridiculously lower and neither is gold. At some point the fiat currencies of the world come home to roost, not really even a question of if but simply when
Yeah, I would love nothing better. Lock in my divi next week (unless they are exercised early which would be ok too). Look to roll if PAAS is moving up and I got some Jan 10's @.45 back when we were low 9's around Halloween, but I am stuck as ave is $15+ w/o the $9.28 buy and high $14 if I include that buy.
But I still like the story, the divi (strong on con call regarding this as I predicted), and balance for my portfolio. This will pay if/when silver move back strong over $20, so I am thrilled if my last buy goes for 20% profit in 1 month and change and gets my LT position back in striking distance.
Some people don't realize the power of that 5% divi and selective CC sales on hedging a LT position like this.
You still long here or on sidelines?
bq, from a low of $8.86 you may possibly see a rally that carries as much as $2-$3 higher over the next three weeks of Diwalli... That might make you feel exceptionally optimistic! Here's hoping we've got a full tank of gas.
I hedged my additional buy with Dec 10 calls @ .97.
I am longer term but like to trade around core positions.
This is against an add at 9.28. I will look to roll these out (and up if possible) as long as I can. I think PAAS will be under tax loss selling pressure. Of course all things equal and if silver pops then PAAS will head higher.
I am actually a bigger fan of PAAS than CDE but CDE tend to make larger moves in the same directions and PAAS was up in Am trading while CDE was not Figured it would also pop up but missed the entry before it flew I also have to contend with the size of the positions I would like to get in with which can make it hard to get in and out in a timely manner.
Guy, the two greatest PLAYERS in this game are called FEAR and GREED! Of course there are those who are merely spectators but I don't consider them 'investors' or 'Speculators'. You took a profit. Who's gonna argue that profit opportunities are more often rarer than whatever is second place. I know your a CDE fan and I wish you well.
It looks like I might have missed the opportunity to get in lower, I might put what I planed to put into PAAS into CDE today if i can get in at open.
Good going, Guy! Looks like there are a lot of folks hoping to jump-in on the action!! Pool isn't yet full and the water is fine.
Bumps looking to be over topped out at 10.37 look out below should be a significant short term sell off before the price continues upward.
This is the bump I was referring to I expect after this bump there will be a short term selloff which I hope to get back in during before the price continues upward.
See the answer for the dividend question from CEO in the following.
I think it's more a firm dividend policy than perhaps the market has realized. When we first looked at starting a dividend and then increasing it over a period of years to the current level, it was a very much a long-term decision. We didn't just say, look, boy oh boy, look we've got a nice little cash bulge going on here because prices are at $35, let's crank the dividend up to the maximum. That's not the decision process we went through either at management or at the Board level. We said, what do we believe is a long-term sustainable dividend for Pan American and through good and bad times.
While we are in I hope a period of bad times, I hope this isn't the future, I certainly don't believe this is the future long-term, and we are going to sustain that dividend. We have the financial strength to do it and I think it would be an error to cut that dividend, given the fact that for so far about an eight week period we've seen pressure on the precious metals prices. That's not what prudent long-term thinking companies do. Otherwise the dividend just goes up and down with the price and I'm not sure as an investor how you rely on that if you're looking for yield stock.
Having said all that, the Board is realistic. We're going to look at this every quarter. We're going to look at what our future growth capital requirements are. At the moment they are very manageable within our financial balance sheet. And so the decision was, yes, we are going to pay the dividend again. But we're not going to blindly do it – if prices of silver went to $10, we wouldn't blindly keep following that pattern, that's not Pan American's way. But I can say that it was a long-term decision and we're sticking with it right now.
Cash flow and share price discount to book value after they revalue reserves at new silver prices. All in cost and earnings are the last suckers problem....those guys that bought in when silver was 45 and paid for all the capital expenditures...sunk cost now. Cash flow and the price you are paying for the stuff in the ground is all that matters now. Divi important, but driven off cash flow
Dj, don't know what to say except, I'll have to share your post with my wife.. I'm nearly certain that she'd disagree with your analysis of my good nature but I do thank you for your kind words. I too, believe that not enough of them (kind words) are shared in this era of angst and contention. A good weekend is wished for all Pan American silver investors as the week seems to have ended on a stronger note than when it began. Good luck to all.
Would you care to make a friendly wager that it won't be at less than 2 dollars come Christmas.