When people with money only sell a couple of thousand dollars worth of stock it's the same as the average guy selling $100 worth of stock. It's not important.
Sentiment: Strong Buy
I can understand why you feel that way. It's hard to watch a stock go down for so long. But this is bottoming (IMHO) and the wrong time to sell. The GC project will be coming online soon and production will increase at the other mines. They did some maintence and work at their other mines and production slowed down. I'm getting the feeling they're dragging their feet, no rush, due to the low silver price. If GC has a 12 year mine life why waste a year mining for low prices. Later in the second half of this year if metal prices pick up, GC comes online and production increases, all should happen, SVM will fly. Things will turn around very quickly but probably not tomorrow. A little more patience is required. Sometimes instead of staring at the stock price I read their financial report or look at their website for information to remind myself why i own this stock. It's easy to forget when you're down.
Sentiment: Strong Buy
Good move. I did that over a year ago and much better for it. Asianvest will be next on the chopping block. Even when the price goes to 5,6,7 they will still regurgitate the same things til the end of time.Perma bears. Did either master trader catch the move from 2.18 to 3.30? Nope
So if the manipulators have been in control of the price for the last 25 years why did it ever go up in the first place? How do you know so much about how the price will be manipulated in the future? Are you an insider?
It may be more than a small correction but I will say this. If the metals are truely bottoming then SVM should have some surprising strength on this not so good report either tomorrow or the next week.I think it got ahead of itself alittle this past week so some give back is normal. Now it may need some time to get it's legs back.
If you read the report you will see the decrease is temporary. Shutdowns at some of their main shafts for one to two months.Will go back to normal. This may have bothered me some but as stated, who cares with prices so low. Why give it away? If metal prices increase later this year it will work out better.
Let's see what the BCSC finds in their fraud investigation against Carnes. If he is found guilty ( which he should be) then SVM attorney's have free reign to go after him. Will he flee? Looks like the worm has turned.
They must be clairvoyant!!!! How could they have known the beating the silver price would take over that one year period!!! How could they have known the gold and silver mining index would make new lows!!! Hats off to them for making the wise move to conserve cash during this uncertain time.
Sentiment: Strong Buy
I'll be the first to defend him. He has been on this board for many years and was posting when gold was much much cheaper. So in the the long run he is actually right. Can't dispute that.
A sign of a strong financial company. And management is thinking of shareholders, how many mining companies pay little to no dividends?
Hopefully there's some volatility tomorrow and the next day. I need GDX to trade at $20.40 to get my final shares.
I did, at $2.25 like I said. Only I bought 10k more shares and decided to buy 2k shares of GDX for GTC $20.40 if it gets filled. I'm a little too heavy in SVM and need some diversification. And that's it. No more into PM. I will wait out what I personally believe will be very large percentage gains when the metals eventually rise. My own view. Been through these crash drills many times over the last 18 years. My problem is always selling way too early.
Right ryugo. I thought they said ( AL, asianvest ) that those mines were part of the fraud. Now they're sold for cash? So much for the fraud theory. Oh wait, maybe the sales are a fraud too. And it's also very true that they were unbelievably lucky to be short in the worst PM downturn in 30 years. But it should be coming to an end soon and we won't have to listen to them crow much longer. To try and single out SVM management as bad is a joke. How about HL with there environmental law suit, or their excessive pay package, how about collapsing mines, shutting down one of only two mines for a year, or ABX with their pascau-lama ordeal, EXK hedging, CDE royalties this list goes on and on . The whole sector (GDX) just broke to a new 52 week low. So its not specific to SVM at all. And they've paid a dividend for around 25 quarters consecutive which doesn't support the short case either.
If anyone is smug it is certainly you. You will be long forgotten when gold makes a trend change,(which is very close now). Enjoy your losses.
Ryugo is right and you are wrong. They are ALL down and are briefly switching leadership positions. They are leaves blowing in the wind for now. Just a short while ago SVM was outperforming HL by a large amount.