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Hecla Mining Co. Message Board

  • deepcreekcapitalist deepcreekcapitalist Aug 9, 2004 8:26 PM Flag

    I'm out, to friends of the board


    For the first time since late 2001, I'm holding zero pure play PM miner stocks, including my friends...Hecla Mining. HL has been a great friend rising from 77 cents to over $9 the last few years. CDE was a great friend also, I believe I bought some for 50 cents a share in December 2001. Since that time I have become disillusioned with a variety of things; Chavez, big pay for execs, preferred div'd pushed off, and of course...Wheeler and his takeover antics. Todays loser quarter was the last straw for CDE. The decision was not made in a vacuum. It, CDE, rose nicely in late afternoon, as Berkshire was sinking. That was my trigger, plus Zeke has been raising a caution flag. The cash raised was redeployed into BRKb. Buffett has silver. Buffett has large foreign currency positions.
    BRKa and BRKb are currently on-sale...Susan Buffett died...1,500 A shares will be sold over the next 2 years, and then this quarterly report for BRKa indicates a zinger of a headline...Berkshire profits down 42%.
    Her small sale is for tax and estate purposes, the bulk of her holdings are not being sold...however, I think BRK is suffering from the fact that the great man himself is mortal also. Closer examination indicates a profitable cash machine that was simply not able to overcome the prior years bond peak bonanza sale by Buffett. I've gone from over 60 holdings in the last few weeks down to 6;
    I hope you folks will consider me post here. I do still have approx 2,000 ounces of physical silver :)
    I say approx. because frankly, it could be more. I just keep buying and hiding it.


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