I'm not sure why I'm doing this, but part of me is curious about such an opinionated person. As far as me being dumb, I've never been called that before - I have a very well paying job, beautiful family, travel internationally, yada, yada............
I believe I've asked, but never got a reply, about whether you own or have ever owned HL. Answer me that, and then you can tell ME what the current short interest on HL is.
If you can't answer both questions, kindly quit responding to my posts. I don't like to have to use ignore, but I've had to in the past with a$$clowns.
I'm liking the volume.
Last time HL went UP on volume of 13,000,000 shares was Feb. 2012
If no after hours smash is forthcoming, than I'll be ready to say................................. I'm still cautious.
Hey CF - long time no see!
I stopped even looking at HL when it hit $2.70, but it seems to be recovering a bit. For all the nutty folks out there - Yes, I am down $135K on my HL (bought on the way up, AND back down), but up $210K on my SLW, so up a bit overall.
I was surprised to see that short interest went from 17.5 to 19.7, and is now up to 22,000,000+ shares.
I can see shorting this thing up at $10 - but to ADD short shares at sub $3 is lunacy...........
I'll check back in a year from now, unless anything interesting happens ;-)
Best to you and K.
That is what got me thinking........... Why put that in there?
They already have taken measures to PREVENT the possibility of a hostile takeover, and now they are writing one IN??
I still think J.P. Morgan is somewhere, somehow, involved with HL (possibly the 17.5 million Short Shares?).
Anyhoo - from yesterday:
"J.P. Morgan analyst John Bridges pointed out that Pan American Silver Corp., Hecla Mining Co. and Coeur Mining Inc. all boosted reserves in their Q4 results, even as they lowered their price assumptions. He called the reserve increases “striking.”
“Coeur and Pan American have delivered net organic growth in reserves even as the silver prices used have fallen,” he said in a note. “Hecla benefited from including its new Casa Berardi operation in reserves and other assets in resources.”
Coeur’s reserves rose 16%, largely due to additions at its Rochester operation. Hecla has high-quality assets, Mr. Bridges noted, which protects it from big reserve declines. Reserves went up 13% overall, with new ounces added at the Lucky Friday operation. And Pan American raised reserves by 2%, mainly due to exploration success at the La Colorada mine in Mexico.
Hecla used a silver price of US$20 an ounce to calculate reserves this year, making it the most conservative of the three companies. Coeur used US$25, while Pan American used US$22. Silver currently trades at slightly above US$22 an ounce"
I'm probably just nutty after holding HL all these years.............
Anybody read it yet?
This caught my eye:
"CHANGE OF CONTROL AGREEMENT
AGREEMENT by and between Hecla Mining Company, a Delaware corporation (the “Company”) and [Name of Executive] (the “Executive”), dated as of the 21st day of February 2014.
The Board of Directors of the Company (the “Board”) has determined that it is in the best interests of the Company and its shareholders to assure that the Company will have the continued dedication of the Executive, notwithstanding the possibility, threat or occurrence of a Change of Control (as defined below) of the Company. The Board believes it is imperative to diminish the inevitable distraction of the Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the Executive’s full attention and dedication to the Company, and to the Company currently and in the event of any threatened or pending Change of Control, and to provide the Executive with compensation and benefits arrangements upon a Change of Control which ensure that the compensation and benefits expectations of the Executive will be satisfied and which are competitive with those of other corporations. Therefore, in order to accomplish these objectives, the Board has caused the company to enter into this Agreement."
Hostile Bid Protection????
Yep, still holding 65K shares of HL. I said I wasn't going to sell any HL or SLW when I left a good while back, and I haven't. I'm down about $110K on my HL, but up more than double that on SLW.
I see Short interest dropped 500,000 shares from early this week, and volume is picking up. Both very good signs.
About those clowns that say: "the market can stay irrational longer than you can stay solvent" I say B.S.
Fundamentals will ALWAYS win in the end. Patience is something many here still don't understand, evidently.
Well #$%$ down!!
Getting close to the end of the trading day, and although I said I was going to wait a week, I took a quick peek.
Something is seriously wrong with HL!! This thing is going in a direction I THINK it might have gone in, like 2011!!
My SLW is doing weird things, too.......
I'm going to go lie down for a spell.
That's a kick in the head!
Still 18,500,000 shares short, and thinnish volume, though.
I'm gonna hit the "Snooze" button and come back in a week, see if this is some sort of gravitational irregularity, or an actual trend.
I was pretty certain the pain would stop in 2015, so I'm a bit leery.............
Good post Mike - I too, was dismayed to discover HL hedging heavily at these low prices.
If anyone should be aware of the majors closing their huge short COMEX positions over the last 6 months, it should be management. What else could that mean but higher PM prices??
I've always been flummoxed by insiders lack of conviction by share ownership - less than 1% - REALLY?
Tools, or Fools, come to mind - either way, the $USD seems to be under pressure. Physical PM demand has been outstripping supply for some time now, so I believe that HL share price has way more upside than downside, DESPITE management's apparent lack of confidence in the company.
NXST - you've been around and very patient for quite a while............ I empathize with you.
Not sure what you mean by "selling the back-up donkey" ??
I had 60,000 + shares of HL @ $11.00 per share and bought even more on the way down........... Yeah, I would be quite the genius investor, had I sold all my HL @ $11 a share and bought it all back at $2.80, but I'm now not even close to being considered a "pretty good" investor, being solidly in the red with HL.
My basis on HL is in now the $5 range, after buying at $2.49 many years ago, and buying more @ $8.00, and even more at less than $8 on the way back down....
I have to admit, that just TWO days ago, MY gut was saying: "admit it, you can't fight the Powers That Be"!!
But then again, I thought even if the PM miners were stupid/desperate enough to forward sell a LOT of their production, at THESE bargain rates, demand from China, India, Russia, and yes, the U.S would STILL quickly overwhelm this temporary "downturn" in PM prices.
I thought: "Where ELSE I could deploy my Capital".................... and came up with.... Nowhere that felt safer than this PM sector.
I have to admit, I think HL mgmt. could have done more to increase shareholder value in these trying times, but all in all, I think we have little downside risk at this price point, and much better upside risk.
Oh, I forgot to inform - my investment timeline is 2024 - the year I plan to retire. I'm betting that ten years from now, HL will be selling for more than $15 per share.
Nope - Minty Fresh New Shares................ cost of $0.00
Baker bought some shares in the $3's in May, I believe.
I can't wait to see the next C.O.T. report!!
Wow! Baker gets 170,648 shares of HL for a job well done??
At least he now owns more HL than I do.
Let's see if he can turn a profit with $20 Silver....................
Yep - I own more than 25K shares, and yes, they called me too.
I've owned HL over 4 years now, and have NEVER gotten a call before, asking
me to vote.
I'm concluding this was all about executive comp, and I think they are compensated fairly as is, so no to bumping exec comp.
Wrong board - this is HL, not DUI - but thanks for playing!
Hey, CF - good move. I think we may be close to "max pain" with HL.
Look what the big boys are up to:
"While mainstream news sources continue the war against gold and gold-related investments, three of the world’s top performing hedge fund managers have been busy at work building speculative gold positions during the first quarter.
George Soros, John Paulson, and Steve Cohen, who in aggregate control over $60 billion dollars, have been aggressively buying the most speculative vehicles associated with gold: call options on gold mining stocks.
Starting out with, George Soros, billionaire financier and chairman of Soros Fund Manangement LLC, was the target of bearish gold commentary this week issued by Bloomberg. While Bloomberg journalists correctly reported that he’s been cutting his stake in gold, what they failed to mention (which was articulated here on May 16th), was how he reallocated the proceeds.
Soros indeed cut his stake in the GLD gold fund by about $2.5mm—a paltry sum, especially given the fact that he simultaneously purchased a massive $25mm in call options on the GDXJ Junior Gold Miners Index. This purchase outweighs the physical gold sale by a factor of 10—suggesting he expects much greater gains ahead to be had in the junior mining stocks."
From "Bull Market Thinking" blog, May 18, 2013