I have just been checking more gold and silver stocks, which traditionally get targeted by the hedgefund crowd. There is none left below the 200 dma.
Thursday results are going to be explosive.
For the totally blind and deaf: a 20% up-day.
The 200 dma of CDE is at $3.60. Gold, silver, the HUI, everything has broken and is speeding up above the 200 dma.
One stock lagging, because it is the target of rather stupid hedgefunds. Time for a counter move.
Volume is increasing fast. Coeur is definatively lagging the entire sector.
Wednesday night Q4 results. Thursday the reaction. So many investors on a wrong footing due to the ridiculous short selling action after the January production guidance.
My bet. We are going to see a plus 20% day.
Just listened to Rick Rule's optionality interview last night. Great interview, lots of lessons. If I want to make some money in this sector I 'd better go for the sleeping beauties than the bleeding hearts.
That is the official short position. Who knows how many naked shares are circulating in the market. My bet is a multiple of that.
Some time ago I recommended IR to stop looking for finance in shark infested waters. They were obviously annoyed with my remark.
And this surprises you? This is what I expected from the beginning. This is how "deep capital investors" play their games with management of miners. With or without a gun at the head. Very positive for Coeur? Not when this happens continuously (what about Paramount?) And certainly not, in case these were nof covered short positions but naked short positions. Anything goes in corporate America nowadays.
My wife comes from the city and is sooooo afraid of spiders. So when I crush them, I gain an awful lot of respect.
That is life. I have to choose between an ignorant spider and my wife.
I am an opportunist.
Production in Q4 has been exactly the same as what they sold in Q3. The 5000+ ounces of gold and 200.000 of silver they sold out of inventory in Q3 must have had a higher AISC than what they sold out of Q3 production.
The AISC per Eq silver ounce should have further gone down due to lower dieselprices, improved recovery
rates and improved grades. Maybe as low as $11.50. But there are a number of unknowns like capex and cost of ore material bought at San Bart. And the realized price of gold and silver.