meant miners in general...SSRI is free cash flow positive and making money...but not much. My point was that gold needs to go higher to see gains as at these gold prices we are overvalued by a lot.
do u look at #s...free cash flow, earnings? You should. Doesn't matter where they were trading in 2007, today they are all overvalued and making no money at these metal prices. Im long many shares, but realistic.
anything is possible in markets so Im not foolish enough to say that it cannot go to 15...It can also go back to 4...u simply never know.
I agree that the bottom is in and PM's are the place to be...I have been following the sector for a VERY long time and know it well.
I have been well rewarded this year ( finally ) in my biggest holding AG, my second SSRI and PAAS as my third as am up 200% this year on these 3 combined as did have some leverage at play mostly in AG. I have removed all leverage now as did sell some AG at 10 ( cost 3.32 ).
All I am saying is all my miners are overvalued to where the price of gold/silver are presently so we need the metals to move.
I doubt very much its going up 50% in a few months. I actually predict a summer of up and down and hopefully not lower than 9. Gold needs to break 1300 for good for us to see further momentum. Stock is not cheap on valuations and free cash flow.
Im over it...and added a ton of shares at 5.80 so doing very well...just saying they overpaid UNLESS real new reserves are proven...so its up to management now.
I would never EVER buy anything in South Africa...incredibley corrupt and huge problems with workers..been burned in that country once in a private deal and had to deal with massive corruption...be very careful.
Sandy, I agree with you on SSRI, its my second largest holding after AG....but Id rec SSRI over AG as AG ruin has been insane. The one drawback on SSRI is if the neighbouring silver deposit proves to be non economical, its 10 mil oz producing asset will be shut down shortly...thats the risk.
stock certificates are expensive to replace if they are lost or stolen. I assume you are asking because you do not trust your brokerage in case of bankruptcy...or you don't want others borrowing your shares to short.
If those are your concerns, simply tell your brokerage to deliver your shares to direct registration..for a fee your shares will be removed from your broker ( street name ) and put in your name into Direct Registration ( Computershare )...this is essentially the same as having paper certificates except they are electronic.
Your negatives are...if you want to sell...you need to re deliver them to your broker in order to sell...so this takes about 3 days...also you do not get leverage on your shares.
its a great deal for AG and longterm shareholders as the balance sheet was weak and they placed it at a very high price. It will take some time to absorb but well be over 10 within a few months IMO.