Payback time starting, Snook. Hedge funds, brokers and MM's going under following extreme greed. Not a penny really earned (how can you earn a penny changing money anyway?), but the money already spent. Payback time.
We'll see what this stock gives, when silver reaches above $50 later this year. Then we will see market makers go under and hedge funds disappear. And .... a lot of lawsuits for fraud.
Georgie's or are they snook's bashers are still all over the place. For 10 years now. They effectively killed the message boards. Fortunately, it will be payback time soon for the short hedge funds. The hedge fund managers probably pocketed all short selling profits and will fail to buy back. Top of one cycle, beginning of another.
End of capital expenditures and scaling up of production at Rochestor in 2014 will be key next to the recovery of the silver price. 31 cash cost at rochestor was a temporary, depressing factor.
The market knows what to expect. For the time being silver has taken out a nasty downtrend line and has moved above the 200dma. You take your bets for the future of the silver price, the market takes its bet.
We had a double bottom in silver in 2013, the second bottom being in december, so it's only normal that also the share price bottoms with a 2 months delay. Market is looking forward, so it can start projecting higher revenues. Sorry for my positivism, but I think CDE like all miners have done what they can to bring down costs and in 2014 they are going to reap the benefits of all that cost cutting an production optimalization work. The cycles do their work.
Impairment charges for Iamgold were also $772 mln, for Barrick Gold $2.8 bln. It's the same across the sector.
That's what I also believe, lpet. The bad results are to a large extent due to the silver price and already incorporated in the share price. The upmove in silver is much more important to the share price than these "old" 2013 results. The impairment is an insignificant accounting item as far as I am concerned.
The criminal naked short gang will have to buy back now. Their profit is immense, but 150% criminal. So let them sweat, while the prosecutors start chasing them.
The leverage of Coeur to the price of silver and the momentum of the silver price, which is about to take off. Difference is that in those days Coeur had old mines and wasn't ready for the long run. Now they are.
Ed, I don't think we will need share buybacks. The current situation resembles that of 2003, when the price of silver started to rumble after years of stagnation. Coeur was also dormant during the price stagnation of silver, but once silver started to rise, Coeur rose from $1 to $7 in less than a year due to its leverage to the silver price. There must be plenty of large investors that remember 2003 and are waiting for the right moment to step in. Actually, I think we are at that right moment, now that silver is taking off.
The cowards always short the most in the thinnest possible market, when Europe and Asia are closed and the US is closing early for the weekend. They will try it again on Sunday night. One day soon these low lifes will pay for al their sins.
Well, when there is no miner left that is making money on mining gold or silver, it only makes sense that a turnaround is due. And the safest place to be is in a streamer that doesn't mine itself. 2014 seems to become the year that commodities (hard assets) will be back in focus. While for SLW this is an extremely positive story, for the mining companies themselves that is much less so, because they will also get much higher energy costs to cope with.
My take is that the coming rally may extend for three weeks. Whether it will be $30 for SLW I don't know. Silver is about to explode. If that means $25, I don't think we will see $30 in SLW. If that means $26-27, we might.
"Once JPM and such cover they may not be allowed to reenter the futures markets again, but would count on it, the fight will go on."
Excellent point. I understood that also the Germans decided to examine possible rigging of the gold and silver spot price. Well, when the Germans do a job they do a good job. So JPM better doesn't repeat their old habits. I also believe the CFTC has given JP Morgan enough time to get ready to get long.