Here is a company with $700 million in cash and short term cash positions, an operating silver mine making money, fantastic silver properties elsewhere and yet the market cap is 1.18 billion. Strip from this $700 million and all the rest is valued at less than 500 million. This is absurd.........
what am I missing?????
if this is not a buy at this level than I give up....
If it is due to massive short selling (and with the likes of MF Global, I would not be surprised to hear, long after the fact, about a massive naked short position), the cure is simple: issue a dividend. They have the cash. They certainly cannot argue that long-term stockholders do not deserve it. WYNN did exactly this. Call mgmt and demand it.
A better plan is they should act to buy hard silver, or gold. They did it before, it paid off. Just drop the lousy secrecy this time as to where it's stored, huh? Contact IR and ask Co. to buy hard silver---$100 million worth.
Speaking of MF Global, that should be the wake-up call for all the poor souls who have invested in ETF's, including those for silver- some of them are going to be left in the cold, IMO, and all they are doing is serving the short side. I believe silver and the miners would soar if what amounts to another derivative did not exist.
Dead wrong again RichardLee, you just don´t know what you are talking about.
Argentina has signed bi-lateral agreements under strict compliance with Canada, the US, the UK, Germany, France, etc., regarding repatraition of dividends.
Believe it or not, Argentina DOES have its own (albeit small) multinationals that DO repatriate dividends INTO Argentina.
Furthermore, FMI members such as Argentina are bound by FMI by-laws strictly forbidding retention of dividends remitted abroad.
Wrong RichardLee, please do your DD.
Repatriation of dividends up to USD $ 2 million per MONTH is business as usual in Argentina.
Dozens and dozens of multinationals and/or Argentine companies quoting abroad do that all the time.
Beyond USD $ 24 million per year you require permission, which is usually granted if you have your papers in order, etc.
So be careful with erroneous info please.
Let's start with your first error on the amount of cash.
This is from todays press release, unaudited;
'At September 30, 2011, the Company held $355.9 million in cash and cash equivalents.'
I'd watch out for those...equivalents...if I were you.
Vern says Vancouver has many trap doors.
i replied but do not see the posting, second try :
SSRI holds a 28.3 % stake in Pretium
28.3 % x 86.86 million shares x 8.90 cad. $ = 219 M. cad $
this should be part of the liquid assets actually but has not been counted as such obviously.