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Seacoast Banking Corp. of Florida Message Board

thesoothsayers 1 post  |  Last Activity: Feb 13, 2014 7:10 PM Member since: Aug 18, 1999
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    How Does SVM Compare vs Other Silver Miners?

    by silverstoneowl Feb 13, 2014 6:38 PM
    thesoothsayers thesoothsayers Feb 13, 2014 7:10 PM Flag

    I think you better learn the difference between a balance sheet, cash flow statement and an income statement. They did make money, they actually had to pay taxes on their earnings. That is in the income statement and the cash flow statement. The balance sheet shows a write down of mines based on what they paid for them as they sold them for less then they paid. That dropped the book value of the company. Is that good? NO. But, in this #$%$ environment, they are not burning cash, and cutting the dividend is the right thing. If silver prices go up, the stock will go up. Why mine anything at these prices right now? To do so, would just be spinning the wheel and going nowhere. We need higher prices. That is the bottom line. Fact is, they did not lose money, they are doing the right thing. The fact that their mines aren't producing at good grades should be the concern.

    Sentiment: Hold

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