Silver

[denpal]

A must-read latest update on silver:

 

http://www.kitco.com/ind/maund/jan152007_silver.html

[NightStalker]

Let's see - the long downtrend in the MMN shareprice on the one hand, not to mention all the doubts about the management of this company.....

 

And on the the other hand, the fact that I'm already 10% up on my recent purchase of CXC shares, and they are still trading at a discount to the US/Canada CDE shares, at current exchange rates......

 

Now, given the track record of CXC vs that of MMN.......

 

 

Which one should I stick with? Hmmm - tough question... - NOT.

 

No contest. I'm sitting on a large parcel of CXC shares, and they will stay in my long-term portfolio while the silver bull market really starts to wind up. They have timed their acquisitions perfectly. Looks pretty good to me http://www.sharescene.com/html/emoticons/smile.gif

 

Usual disclaimers, make own decisions, etc etc blah blah...

 

 

[bunyip2]

Nice suprise, Umteen years ago in another world & I had a few bob I bought 2x5 Kilo Silver bullion bars, Perth Mint had just opened puplicly ( Prior Hunt bros fiasco) had them covered padding & material & Made wonderfull Door Stops. Me thinks should unwrap & do somehing more practical thanks to this board. Bit like a Lottery win. "Ta" all.

[woteva]

In reply to: NightStalker on Wednesday 16/01/08 08:07am

NS, each to his own, like I said I was buying CDE back in 2003 just before it took a large run and nobody wanted to anything to do with it then, just as investors want nothing to do with MMN now. Oh let me see, that's right I was buying MMN back in 2001 for .04 and everybody told me I was mad then as well...

 

Like I say, each to his own...CDE will do very well, but I bet MMN outperforms by a country mile over the next few years.

 

Cheers

[woteva]

We have a double-top break out in Ag

 

Silver now heating up, doubled Golds gain in % terms last week and four times the gain so far this week. Watch Ag surprise all in strength the next few weeks

 

[bettyboop]

Do you know of any stocks with potential silver reserves and the mining is also commercial? Thank you.

[macduffy]

 

I'm not an authority on the subject but I understand that the major producers of silver in Australia all mine the stuff as a by product of lead, zinc etc mining, occurring as it does with these other metals. Because of this they usually sell it forward to international silver traders such as Couer D'Alene Mining or Silver Wheaton.

Couer D'Alene is listed in Australia - CXC . The only specialist silver miner in Aust is Macmin - MMN - which has a history of unfulfilled promise.

I have recently taken a small position in CXC. http://www.sharescene.com/html/emoticons/cool.gif

 

Silver hit a 27 year intraday high of US$17-47 yesterday. You wouldn't think so judging by the weakness in CXC's S/P!

[NightStalker]

.... and especially after today's announcement by CXC re the pre-commissioning of the huge mine at San Bartolome. And with the current silver price now well over $US17 an ounce, this summary looks REALLY good to me:

 

QUOTE

Overview of Key Mine Metrics: ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ Expected silver production during remainder of 2008 of over six million ounces ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ Operating cash costs once plant reaches full-scale operations in August through the end of the year are expected to be $4.10 per ounce of silver (excluding royalties and production taxes of $2.03 per ounce) ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ Over ten million ounces of silver production during the first twelve months of full-scale operations ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ 153.0 million ounces of silver mineral reserves and 34.2 million ounces of additional indicated mineral resource ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ Estimated mine life of 14 years

 

I have a reasonably large CXC holding, and it is for the long term.

 

I was a Macmin (MMN) holder a long time ago and made a nice profit from trading them, but they now look to me to be a loser. SP is heading south, more dilution on the way, letter to shareholders trying to get them to stump up even more moeny for more cap raising... it does not look good to me. And they are run by the same crowd that run Frontier (FNT) who want to mine the Kokoda Track... shows really good judgement and PR skills...!! http://www.sharescene.com/html/emoticons/wink.gif

 

MAR is another one to look at, but CXC seems to be the pick of the silver miners on the ASX now, since they floated here.

 

And I'd agree that silver is well and truly on the up-and-up. http://www.sharescene.com/html/emoticons/smile.gif

 

 

[Wossname]

Silver has touched $18.

[Wossname]

I don't fully understand what this fella is saying (see quote below). However, he sounds chock-full of smarts to me, and if he happens to be right about hyperinflation, then it's good news for silverbugs!

 

 

"TODAY IN SILVER - Archives

 

http://www.silveraxis.com/

 

FEBRUARY 20 2008 4:45PM

 

...

 

I have recently noticed a very important new development that actually took place in mid-December--the "Term Auction Credits" introduced by the Fed at that time, amounting to $60 billion currently, are increasingly being used as collateral for Federal Reserve Notes in a reversal of long-standing practice to use only U.S government Treasury and agency securities for that purpose. I have long maintained that when a change in this policy occurs, it would represent an immense shift that would be very friendly for gold and silver bulls. And here it is right under my nose, yet it took me 2 months to notice! This could be the first step in what may turn into a Congressional amendment to the Federal Reserve Act that will be even more friendly to gold bugs because it virtually guarantees a hyperinflationary outcome. As it is, the initial change in Fed policy has shifted probabilities away from deflation toward hyperinflation. I don't have time to explain in full right now, but you could get a head start understanding what I'm talking about by reviewing the H4.1 Releases from the Fed."