Let me first say there's probably more than a few other contributors to this board more qualified than I to answer your questions.
Silver and silver juniors are far more affected by the whims of the cartel and paper market than fundamentals if you are looking at the share price short term. If you accept that the junior shares are mercilessly punished so that retail barfs shares into stronger hands, then you are more likely to make it through to a period of relative 'overvaluation'.
My premise for trading these shares is based on a long range view that silver will break out to new all time nominal and inflation adjusted highs. This would infer several multiples of the current share price, assuming the company can sustain development resources to maintain Shafter production over the first few years. I will trade based on the ever present influence of the cabal, until silver begins to garner legitimate mainstream attention, then hold on tight for the ride... Good luck!
I waited for the fed minutes before buying more today, and was surprised the offer hung below 80 cents for so long this afternoon. Club, I was glad to read you'd diversified some of your major HL holdings, and still recall your conviction through the fall of 2009 when 'the street" was pegging Hecla for dead. Thompson Creek finds itself in a similar pickle, trying to build out Mt Milligan... I started bottom picking on that one recently, considering it a long hold.
Reloaded here now and will ride patiently, so long as the story doesn't change. We all know the games and the systemic risk, and like david. I will continue to cycle profits out of this casino.
Yeah, thought about buying HL, but been in that one before, and their management is weak. I sold HL years ago and bought EXK, and have no regrets. HL does pay a dividend. Anyway, I bought more EXK today, and holding onto AUNFF, those are my two silver miners. AG looks very good too, missed out on that one.
Silver is flirting with $30, silver is in full breakout mode. So this one will come back strong. Shafter will start up at some point, and will produce a lot silver. Look how the company has done with LN. They know how to mine, how to get the metal out of the ground. It doesn't matter whether the metal comes from compliant ore or non-compliant ore. The bottom line is they can get metal out of the ground.
Brutal day for this stock. Sorry to go on and on.
As I said...pretty darned stupid market for selling ANY of AUNFF this week after that earnings report.
Look forward more than the distance between eyeballs and tip of nose and one can see how short-sighted the selling was.
STILL a great buy, at now 94 cents.
It will STILL be a great buy above a buck by 2 weeks from now.
Sentiment: Strong Buy
awesome dip here on a silver up day, two days in a row.
I just bought another 3000, total of 47,000 now.
Yes, the market is clearly irrational, so why not take advantage of the opportunity to own more of a great company on the cheap.
a year from now...
Yeah, it's ridiculous. I bought more today. At some point increased revenue, increased production, lower costs will translate into a higher share price. And silver is moving up. So buy more if you can, this one is going to become a mid-tier silver producer just through Shafter. And La Negra is a monster of a mine.
The only thing i'm not crazy about is how much the CEO pays himself. It's like over $3M annually. That's probably more than the company pays in federal income tax. It's borderline obscene.