First Majestic held back...then sold all of it lower...Its a ridiculous game. Miners are closing down high cost operations but unfortunately most silver mined is a by product.
Be patient and buy the dips and don't cry...in a year you should do ok on these shares at just over 10 bucks.
I dont care how i come across
If you dont think that 5-10 miners getting together and announcing sales hold will have a huge psychological effect on the market than you dont understand how things work.
Its not the amount of production. Its the fact that the miners are willing to stand up and show they are going to look after shareholders
You must be in the weeds in what you do and not in a position to make strategic decisions. Sorry for the insinuation just appears that you dont understand that the impact of the majors holding back is not about dollars and cents, but about sending a message to investors and the users of the product.
I didn't notice any relative outperformance in AG share price comparing to other miners. Holding fraction of production on hold for a quarter won't affect market silver price at all. It is enough to say that pure silver producers deliver less silver than copper and zinc miners. However, taking operating steps, such as closing the higher-cost mines, would reduce production gradually and it could become a factor in due time.
Also, I would suggest you to think a bit before giving out estimates of other people experience or abilities. Communicating with people in careless way will just reduce your chance to hear better informed opinions.
I call BS
First Majestic held back
PAAS has plenty of money to hold back sales for one quarter
You get PAAS, AG, CDE, HL, EXK, SVM, etc all to hold back for one quarter and the price moves up 20-25%
I understand business very, very well. Obviously you don't.
Im not saying never sell. Im saying hold back for one quarter. AG CEO was the one that proposed this first, not me. You obviously are not in tune with this sector or the business.
Companies have to sell below cost because they have to make payrolls and pay vendor bills. The alternative means closing the business. Hopefully, you understand that in case business is closed, shareholder equity goes to zero.
Despite the general consideration above, PAAS and other silver miners could take few steps to address low silver price. After all, low silver price is not something new, it continues for long time already. The could consider closing the worst (higher-cost) mines and canceling dividend. It seems that most mining companies prefer to swim along hoping than metal prices will recover without any actions on their part.
Yet for some reason the silver miners allow these tech companies who need the silver to make obscene, historical profits while they languish at 10 yr lows
It is truly amazing the silver miners allow their shareholders to be raped while apple's products couldn't function without their product
Yes I know, a lot of silver comes from other metals as a byproduct and there will be silver on the market, but if the silver majors all didn't ship this would have a massive impact on the silver industry
Why are silver miners allowing tech companies to hoard all of the profits when they couldn't function without their unique product? Because management is crooked and corrupt.
It's not rocket science its basic supply/demand for the product you sell. Who in their right mind sells their product below cost especially when one of the biggest users of their product has an obscene $750B market cap?
What a joke
After this OMG Q from hell-o and continued pressure on commodities, at this point I'm deferring any price target because simply I don't want to own this stock, period. Not at this time. If the price falls hard and fast like it should, it's just another indicator of avoid...DANGER Will Robinson!
And just reported loss of $525 million! This company is going to struggle as the price heads toward $2 where the nice departing gift of a paltry dividend...will be cancelled. Avoid/short for now.
Folks long, I'm going to be honest here. Get out for now. Believe me, I have liked PAAS in the past, but I'm short, add more on way down and have absolutely no reason to cover. So for what it's worth....BFG
I wonder why mining companies do bot reduce productions when metal prices are depressed and only produce enough to generate the minimum funds required to keep them going. This way they will preserve their metal in the ground to advantages when economic conditions improved.
Tried to warn my POOR sweet amateur SILVER DUPES and SILVER RETARDO FOOLS, again:
Girls, I can not emphasize this FACT often enough.....ALL these rotten silvers/golds FAILED completely as "flight to safety" during ALL recent financial storms, in which the Dow and Nasdaq experienced sharp drops..... and ALL recent international political crises, as today's RED trading action clearly indicates.....thus proving WITHOUT DOUBT that they are WORTHLESS WORTHLESS WORTHLESS. Every weak gain is an OBVIOUS DEADCAT BURP in a ZERO VALUE pile of silver trash and every smarter pro recognizes that FACT, especially since the smaller junior silvers continue to perform very BADLY!!!
The absolute proof: the silver JUNIORS (e.g. Alexco, Great Panther, etc. etc) refuse to confirm each and every BOGUS GAIN in the silver SENIORS (e.g., PAAS, AG, SLW, etc., etc.), because the silver CALL WRITERS at the sleazy banks and funds only contrive BOGUS gains in the silver SENIORS (that trade heavy volumes of options) solely for purposes of SUCKERING purchases of WORTHLESS silver call options, again and agian.
Time to accept REALITY instead of gold/silver BAGHOLDER DELUSIONS......and re-read my usual GENIUS posts and EDUCATE yourselves how markets REALLY trade, as opposed to the DISINFO NONSENSE purveyed by financial big media, especially the airhead clowns at CNBC
The #$%$ of the federal reserve helps the banks rape the metal holders when asia has a major holiday and it is a gift to the criminals when it happens in options expiration week. Personally I would not touch anything smelled up by the comex but maybe someone can make a case for crimi nal bankers. Physical is all I do now and I mostly gather it from coins and melts.
All mining companies are controlled by Wall St. banks and have to do what they say.