Last time I saw Katlayn on television, I admired him at the Olympics of ....when was it? The world has become crazy.
Waiting for Boone Pickens to become an environmentalist.
Take care, Ed, don't work too much and make some more trips to Majorca. Olive oil is good for the vessels.
I was positively surprised that finally a company has the vision to not sell all production at the bottom of the market. Agreed, Silver Wheaton is one of the few companies that can afford to wait for higher prices.
"During the three month period ending March 31, 2015, payable silver equivalent ounces attributable to the Company produced but not yet delivered increased by 1.6 million ounces to approximately 6.5 million ounces."
"CDE and/or some other silver miners will be tucked away as long term gems by me and by some friends"
Another excellent call IMO.
"may well be up in coming days."
I agree and would like to make it 6 weeks with a correction in between. But, you don't always get what you want (Mick Jagger).
Pass your vision on to your children, Snook. They have no idea of the future and may need some savings. They live in the present (once very well appreciated as being the only real thing) by watching their screens 24/24.
Exactly. A miner could just put mines on care and maintenance, as long as they have proven resources in the ground. All that is left is to pay for the concession. Even management can be put on maintenance. The problem is that miners like Coeur are always fishing in shark invested waters, whether it be shareholders or note holders, because management wants to keep its well paid job.
Since when is a miner a derivative? They are the only thing in the market that is not a derivative, because they have collteral at 100% or more.
If you have totally given up on free markets, you are right. If you think (as I do so far) that this manipulation is meant to transfer hard assets from the average guy to the manipulating 0.01%, you are wrong and you should buy here, i.e. if you still can. 3 Ton elephants don't easily survive in markets.
They paid in shares and far too much, because they paid against existing Coeur assets valued as if gold will be at $1200 for ever and silver at $16 forever. They can say now, that at today's PM prices 20-25% of net profits will come from PZG properties in 2016-2017. However, when PM prices rise substantially within that time span and net margins will be five fold, the other mines will contribute much more than 75%. Unless, they will find a motherload in PZG territory, they have paid too much. I think, that they have bought PZG at the price they did as compensation for past mistakes (paying too much for resources at/ investing too much capacity at Palmarejo in the past and now trying to compensate for that by overpaying for resources to make the initial investment viable). How could they have paid so much and invested so much on the basis of existing resources. Sunk costs are sometimes to be considered sunk. That's my opinion.
I must admit that sticking to a long term strategy in today's markets can also be very dangerous. We have markets that are moving from above, so price setting is totally flawed.
They have gone for the short term escape route (buying PZG at any price, pressured by idle engineers), so any long term strategy concerning small participations has gone overboard. Well, when the precious metals recover, Coeur will be well positioned. They have made plenty of errors of inconsistent planning, but that is inherent to mine management, which has been pampered for too long.