well my good luck at work. Bought some HL and now it is down almost $2 a share. Closing the mine for a year and 2 ml less silver for the year. Should I sell now and take my loss or just wait?? Please advise. I will take final responsibility but would sure welcome your opinion.
I mile of shaft said to take one year to power wash....sounds like thats a little to long, but what do I know. I do know this.....anyone long HL should hope that the Govt. doesn't decide to inspect their other mines as well....also, another after shock could come in the form of stockholder lawsuits,accusations of negligence, etc....just say'n...you need to watch this situation closely...mgt. seems to have dropped the ball here, or, got somebody in the wrong govt position very mad at them.....good luck to all HL longs....
I'm under water too but I'm going to hold. I'm looking to see where the bottom may be. At that point I may add to my position. I feel that this may be over reacted to as similar situations usually happen like this.
Well, for better or worse, I decided to buy more at the reduced price to average down. Don't see anything happening anytime soon to cause the price to go up except sanity setting in but who knows? Eventually prices seem to find their right level and this seems really under-priced when you compare its production and price to other miners. Where can you find 7 million ounces of silver (2012) for $4.61 a share, with a dividend even?
Old Hickory is right here.....I think this is a short term issue...once the mine is back in operation, price goes back up...still, it is and has been a laggard in the industry, and will continue to be until there is new mgt, or they are bought out...just MHO.
i still think management can prove themeselves.
i mean, half their issues revolved around the Greens Creek acquisition. and the real problem with that was the '08 collapse which almost bankrupted them...i'd say was out of their control.
on a 10-15 year horizon that deal should pay off in spades. and that's the only time frame you can judge it over.
jury still out on management imho.
and this Lucky Friday situation...well, seems like we've become the first company to have to power wash a mining shaft. (i mean, really...the hits keep coming...you have to laugh)
perhaps management should've seen that coming? people would've had them arrested if they shut operations down to power wash the shaft.
now if you'll excuse me i'm going to go bang my head against a wall.
not to AXU management: keep the shaft clean.
i think you've got to at least dial into the conf. call before you make such a decision.
IF there is no question about them getting Lucky Friday back up and running then i'd say this is an opportunity long term.
going to weigh on them for a while in the near term no doubt. could you sell here and buy back at $4 or lower?
Thanks for a reply. It has already dropped 23% and probably will become oversold, if not already, but who knows how much lower it will go since market not always logical. Perhaps it has hit its bottom? It is already at $4.50. I think I may have waited too long already to sell. It will eventually come back so just a matter of time (and "opportunity cost") I guess, what else is new? Just a longer wait perhaps. Maybe my best bet will be to average down?