Bump deserved for the man who discovered the San Dimas Mine is striking, 200 of 600 workers, all mill folks, the underground op keeps going.
Until of course, they can't stack product like cordwood anymore, which is an unknown.
Action, danger thrills, and poor House will have to catch up Monday, tomorrow, the 5th of April.
Yeah, although I don't think SLW has a royalty contract associated with San Cristobal, the strike at San Cristobal is taking in the neighborhood of 55,000 ounces of silver/day off the world markets.
Best of luck...
I haven't been able to find anything about the wages for San Dimas, but the is an article about the Bolivian mine that is currently striking.
A miner works 12 hour shifts from 7 in the morning to 7 at night. He works continuously for three months with not one day off and is then entitled to 2 weeks leave. Not known if this is paid or unpaid leave. The monthly wage while working is 2000 bolivianos (equivalent to £200 a month or £50 a week).
At the current exchange rate that is $285.
I hope the miners in Mexico are paid more than that and that their working conditions are better.
I am loathe to predict, but I'm thinking that we will see something close to our last trip down during the Japanese disaster, another situation rife with uncertainty: plus or minus around $38.25 should be the bottom given the status quo on Ag prices and global situation.
But please don't take my guess as gospel. I am not the Rat, who can make absolute predictions with impunity only to rescind them a few moments later.
And who knows, the strike could be settled on Monday and we go back to discussing the price of silver.
I think the drop from $46 to $42 is "explained" by the strike and anticipated shortfall, and I think the 15% figure has teeth.
Considering the selloff already baked in since Tuesday the 29th, we have about three dollars to go downward FMV and $6 for a nontypical but anticipatory overreaction.
Is $37 likely? Nope. Is it possible? Yup. Is is probable? 5% probability. How about $46 to 42'ish? Already there for that first ten percent.
So how does the bottom at about $40 look as a place to start adding shares on a nibble basis?
Outstanding catch. One of SLW suppliers. Action danger and thrills as the mill shuts down when 200 workers walk off on Wednesday, though underground operations (400 workers) continues under a different contract.
The mill guys want more than 8% rise in pay and 8% bonus, given the rise in the POS, so they walked off Wednesday.
The last time the Union pulled this stunt, the Feds opened the mine under force of arms. It took eons, but the Union is aware of Mexico's position on work shutdowns, and is eager to negotiate.
This is not the time, or economy, to give this business the bum's rush. I say pay the guys, and let's get on with it.
Unless their one of our contracted mines thats good news for us! Only the mines we have on contract should concern us at all,in fact thats a good thing if it's not one of ours ,get it?? Man o man ...........lol!!!
San Dimas is one of SLW's streams and a large one. Last year, SD produced 5,157,000 oz of Ag, which represents 21.6% of SLW's production for the year.