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Posted: Wednesday Oct 14 12:49:59PM 2009
gold 1061, silver US$17.84
CDE 24.11 vs 20.29 on 10/5
SLW 14.49 vs 12.61
FR.to C$3.21 vs 2.57
FVI.v C$1.65 vs 1.44
Very positive two weeks for silver stocks. These are all solid, profitable stocks. Some of the more speculative silver stocks have done even better but I like these names for a core holding in silver.
Posted: Tuesday Oct 6 7:36:56AM 2009
Gold at new record highs of $1,039, silver over $17
CDE +8.5% to 21.90
SLW +7.89% to US$13.54
FR.to +7% to C$2.80
KGN.to +20% to C$5
FVI.v +8% to C$1.54
APG.to +5.6% to C$.55
Posted: Monday Oct 5 12:27:34PM 2009
CDE +1.74 to 20.29
SLW +.54 to 12.61
FR.to +.12 to C$2.57
FVI.v +.04 to C$1.44
Posted: Wednesday Sep 30 9:16:31AM 2009
I have fairly recently converted to the view that silver will probably do better than gold, on a percentage basis going forward.
I bought core positions in CDE, SLW and FR.to a few months ago. All have done ok. FR has been slow due to share issuance. If they get their La Encantada expansion done successfully, they should soar.
Went to Silver Summit 2009 in Spokane Wa last week.
Saw about 30 silver companies. My favorite producer was Fortuna, FVI.v. They are profitable and currently producing. They did 1.6 million in 2008, guiding for 2million in 2009. They did this from one mine in Peru. Have a second mine on the way in Mexico that should boost output over 5 million in 2011 if permitting and construction go well. They have 31 million in cash so need very little financing. On a forward basis, they are very cheap. I liked mgmt. They appear to be excellent operators, steadily improving mine/mill performance.
92 million shares, .012 eps, .062cashflow last qtr.
100 million oz of silver resources, indicated and inferred.
Very low cash costs after deducting byproduct zinc and lead from silver costs. Last qtr was actually negative 2.98/oz but company expects full year 1.89/oz cash costs.