A 50% rise from here would take us to somewhere below $7.50/sh. That's almost laughable. Well, perhaps not if silver is not destined to go back up above $35/oz. But it seems to me that with all the fiats exploding in volume....just by printing press power, silver has nowhere to go but up.
My prediction: When silver rises back to $35, EXK will visit a price above $9.
All the MACD folks are probably getting giddy as things are turning quite positive on the specie front. MACD is a trailing indicator though and thus I am not sure if this move in silver and gold has been confirmed yet. Anyone following MACD out there? Confirmation seems to be undeniable once it happens. I have been ready for some time now...tough to swallow the drops sometimes. Even though I have seen it before, this year has been pretty trying on me. PEACE
Quailrunrd- The share price in EXK suffered more than many of the other miners DESPITE the company reporting record production, revenues and earnings. Additionally, the take down occurred very rapidly. With this in mind I would not be surprised if the share price were to recover very quickly. We have two events that should occur over the next two to three week to serve as a catalyst for share price appreciation, Q1 earnings and conference call and the start up of the new El Cubo plant. Of course, days like today, silver up $1.047
as I type, are really helpful. The combination of $35 silver and my estimate of 8.5 million SEO production (management projected 7.5 million) combined with a significant drop in costs per ounce from El Cubo would produce a huge increase in revs and earnings for 2013. Once the market factors in these positives the share price should become fairly valued. Seems rational but the beatdown in the share price demonstrated that at time irrationality rules the day..
Sentiment: Strong Buy
“One of my colleagues, who was in Tokyo, just told me there were stunning $500 premiums on one ounce American Gold Eagles, and there were none to be found anywhere in Tokyo. So the Japanese were taking advantage of the price drop to buy seemingly everything available in terms of physical gold in the entire country.
They were dumping their yen and other currency positions and putting massive amounts into physical gold. This was happening as fast as the Japanese could do it, and they did not mind paying quite a premium for physical gold. What we have seen around the world has literally been a run on physical gold. People all over the world are simply turning in their fiat money for physical gold, and silver as well.
What we have seen recently was a manufactured, but complete capitulation in the gold market. This may surprise KWN readers, but I firmly believe that gold will break to new all-time highs this year. I also believe that we will continue to see a split between the paper market and the physical market, and it will be the physical market taking gold to new all-time highs.
There may be a paper market that trades virtually every second, but if you want real physical gold it is becoming harder and harder to come by. This will just translate into people paying higher premiums for the physical metal.
I would also add that right now if you want brand new Silver American Eagles you are going to have to wait two months for them to be delivered. So the retail physical market for the metals is on fire right now, and the same thing is true for the big money buying the 400 ounce fine gold bars as well.”
Keith Barron....KWN website
If silver hits $35/oz again, there is NO way EXK does not hit a double digit share price again. My theory was always silver at $30/oz would put EXK at about $8/sh. So, $35 silver and EXK would fly! It's still hard to believe how far we have fallen though.
Agree that if silver gets to 35 then exk is double digits. It will be interesting to see if exks management is holding back selling some silver while waiting for better prices. I know they are at a capital intensive portion of the el cubo expansion right now so I hope they were not desperate. Anyhow, it'll be interesting to see the price realized for silver this last quarter.anyone know anything about if el cubo will be completed on time?