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Just to have it on here too.

 

 

At first glance GPR's resource looks low, however it has recently increased substantially. However, is it not due to the epithermal nature of the deposit? Often maangement know there the metal is there but they concentrate on getting production up to speed rather than building a huge deposit first. Here's a link the website.

 

http://www.greatpanther.com/s/Guanajuato_Mine.asp?ReportID=411947&_Type=Guanajuato-Mine-Complex&_Title=Exploration-Program-ResourceReserve-Estimate

 

It's similar with narrow vein gold miners such as Medusa (MML). Due to the nature of their deposit they are highly unlikely to ever have more than 5 years worth of reserves. MML has reserves of 500k and are only looking to replace mined output each year. However, the grades are exceptionally high and cash costs are $190 an oz. This is what makes it one of the best mines in the world imo. Apolgies for going off topic.

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At first glance GPR's resource looks low, however it has recently increased substantially. However, is it not due to the epithermal nature of the deposit? Often maangement know there the metal is there but they concentrate on getting production up to speed rather than building a huge deposit first. Here's a link the website.

 

http://www.greatpant...eserve-Estimate

 

It's similar with narrow vein gold miners such as Medusa (MML). Due to the nature of their deposit they are highly unlikely to ever have more than 5 years worth of reserves. MML has reserves of 500k and are only looking to replace mined output each year. However, the grades are exceptionally high and cash costs are $190 an oz. This is what makes it one of the best mines in the world imo. Apolgies for going off topic.

 

I just wanted to free up some cash from a 10 bag gain on GPR , have still kept a sizeable holding but the constant want to do financing worries me. I bought into medusa after you mentioned them recently and up 30% already, thanks for the tip. smile.gif

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I just wanted to free up some cash from a 10 bag gain on GPR , have still kept a sizeable holding but the constant want to do financing worries me. I bought into medusa after you mentioned them recently and up 30% already, thanks for the tip. smile.gif

 

 

That makes sense to take a profit! There is plenty more to come from Medusa over the long term. They are aiming to increase production from current 100k oz pa to 400koz pa by 2015/6. You should have a look at the thread on advfn. Chip's earnings forecasts are useful and he is forecasting eps of 120p for the 2014 year, and this does not account for production from Bananghilig (their second potential mine, which would be open pit).

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Just don't do it on margin :)

 

http://www.zerohedge.com/article/interactive-brokers-advises-traders-yet-unknown-certainly-scary-silver-margin-increase

Out Come The Big Gunz: Interactive Brokers Advises Traders Of Yet Unknown, But Certainly Scary, Silver Margin Increase

If you don't know what to hike your silver margin to, just tell your clients cryptically you will hike it to some number (very high if possible) and leave it at that. Best to just leave them guessing.

 

To NYMEX,NYSELIFFE traders:

 

Wed May 4 10:50:37 2011 EST

 

Margin Increase: Silver Derivatives

 

In light of the recent unprecedented volatility in silver markets, the exchanges that offer trading in silver derivative contracts are increasing the margin requirements on these products. In an effort to adequately address the inherent risk resulting from this volatility, we are increasing margin requirements on silver derivative contracts to a level exceeding that which the exchanges are implementing.

 

You will be notified as more information becomes available.

 

Please monitor and manage your risk accordingly.

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They are already mining on a small scale to fund their drilling of the property. The location of the property is very well situated right next to a dual lane highway and grid power, they are also surrounded by other mines by big players like Goldcorp & Pan Amercian.

 

They are concentrating on the drilling, proving up the deposit I think they will leave the move into major production to a large player via some sort of joint venture. If they can carry on growing the measured & indicated they will become very attractive to the large miners local to them IMO. The issue is is wether they can do this without much more dilution, they now appear to be using small scale mining to fund the extensive drilling.

 

Here's a link to a presentation from March which has a lot of info about the location and potential size of deposit - http://ecu.ca/images/stories/ECU%20March%20Presentation-Mar.2011.pdf

 

I have started a thread which has a bit more info and some links on 24k - http://www.24knews.com/viewtopic.php?f=8&t=533

 

I looked at ECU a while back as Goldlion over at Stewart Thomson's place suggested it. While doing my research I discovered the chap over at IKN has a real beef with ECU:

 

http://www.incakolanews.blogspot.com/

 

I decided against buying after reading his posts on the company and just as well as it has been a total dog since Jan. Now maybe things have turned for ECU and they are now a screaming buy. However, I would tread with caution and at least look at what IKN has to say. Good luck.

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I looked at ECU a while back as Goldlion over at Stewart Thomson's place suggested it. While doing my research I discovered the chap over at IKN has a real beef with ECU:

 

http://www.incakolanews.blogspot.com/

 

I decided against buying after reading his posts on the company and just as well as it has been a total dog since Jan. Now maybe things have turned for ECU and they are now a screaming buy. However, I would tread with caution and at least look at what IKN has to say. Good luck.

OK, thanks.

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CME Hikes Silver Margins By 17%: 4th Hike In 8 Trading Days

 

They are getting really desperate now ...

 

As Max Keiser says:

 

“The total silver open interest shocked the living daylights out of bankers today. The total OI rose by 1340 contracts. The bankers were hoping to see huge number of silver leaves fall from the tree. They were shocked as there was no liquidation whatsoever.”

 

http://maxkeiser.com/

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agnewlongtermlog2.gif

 

update (with adjustments)

 

aglogyearlyiv.gif

 

 

well done pix on recognising the andrews pitchfork and producing an excellent chart worthy of the midas report.

 

ps - the cheaper the physical price the better!

 

we should start monitoring the cost of a physical coin like an eagle and keep updating it here.......

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well done pix on recognising the andrews pitchfork and producing an excellent chart worthy of the midas report.

 

ps - the cheaper the physical price the better!

 

we should start monitoring the cost of a physical coin like an eagle and keep updating it here.......

Thanks but I wouldn't have noticed it without your cool charts. cool.gif

 

Trouble with listing Eagle prices is they are getting quite rare, on Tulving they are spot + $3.49 for a minimum of 500.

 

They have this offer on currently;

 

Ship Us Your Monster Box Of Silver Eagles

And We Will Ship You $750 Face Value 90% (Our Choice Dimes Or Quarters)

That's 36.25 Ounces Of Silver For FREE

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Thanks but I wouldn't have noticed it without your cool charts. cool.gif

 

Trouble with listing Eagle prices is they are getting quite rare, on Tulving they are spot + $3.49 for a minimum of 500.

 

They have this offer on currently;

 

Ship Us Your Monster Box Of Silver Eagles

And We Will Ship You $750 Face Value 90% (Our Choice Dimes Or Quarters)

That's 36.25 Ounces Of Silver For FREE

 

thanks, it's nice when the charts work. However, i think i should stick to metals because the charts i did on eur/gbp, are looking a bit err., wrong! (though, i am going to stick with the overal direction) lesson learned = stick away from fiat vs. fiat.

 

re. physical costs, i note what you say re. eagles, so i have included phillies as well (anyone can add to this with prices from other sources)

 

all price ex. vat and no postage costs added!! (as of 5 mins ago)

 

Phillie price (gbp) / Eagle price (gbp)

25.09 (cid) / 27.14 (cid)

25.41 (kitco) / 25.80 (kitco)

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I just BTFD

€27.50 (net) Libertard cid was the cheapest

been watching the physical prices all week

and lots of fluctuation between diff coins

Philis have been quite expensive at times as have Libs

must be down to supply situation imo

hope I havent jumped in too soon

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I just BTFD

€27.50 (net) Libertard cid was the cheapest

been watching the physical prices all week

and lots of fluctuation between diff coins

Philis have been quite expensive at times as have Libs

must be down to supply situation imo

hope I havent jumped in too soon

 

Strange thing is that ebay prices don't seem to have dropped much. The buyer of small quantities has no problem buying at these low prices from places like CID so for the little guy, there is a connection between the spot price and the physical price but the story may be rather different for someone wanting to buy some tonnes!

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http://jsmineset.com/2011/05/04/silver-being-silver/

Silver Being Silver

Posted: May 04 2011 By: Jim Sinclair Post Edited: May 4, 2011 at 9:42 pm

...

Margins will continue to rise on the COMEX until it reaches the cash price of silver. This works for the shorts as their hammer on the silver market reduced the equity of low cost positions. The efficacy is short term and made no difference whatsoever in 1980 as the silver market made its highs. What broke silver in 1980 was a unilateral change (novation) of the silver contract which went to "sellers only." Under contract law that is simply not permitted. They got away with a violation in 1980, but the corporate changes in structure at the COMEX that have occurred since 1980 makes the COMEX less able to pull that trick off successfully in 2011.

 

Silver is simply being silver. Silver did help gold therefore the 25% drop in value has to pressure the gold price.

 

The USDX is simply having a weak rally off a totally oversold on every internal indicator short side trade. The dollar has no future. The supply wishing to diversify is simply too big to allow any rally to have legs.

 

I have told you silver is a game. That being said, it it is a great game. Certainly as the silver price approached the 1980 high, you might have considered selling 1/3. [That's sorta what I did, but ratio-based, not fiat value based.]

 

The high trade on silver was $54 in 1980. Silver’s round numbers are at $50 and $100. Both will function as such in trading.

 

Silver is not money. It is simply too bulky to be freely and universally fungible. After this short play, which had to follow the spike intermediary top, silver will rise as fast as it did again.

 

The Hedgies are having their way with the gold shares, but logically this is coming to an end. When you can buy companies whose resources are three times the company’s present capitalization, the share is getting unreasonably cheap.

 

The ratio of GDX versus GDXJ is starting to favor the juniors which is a major heads up event.

 

What you have witnessed is not at all shocking. If you traded 1968 to 1980 you would know this is just silver being silver.

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"Three Peaks and the Domed House" Pattern Suggests Gold Going to $1,290!

 

the “Plunge” phase has now begun and gold should experience a 17% decline to $1,290 per ozt.by the end of June.

 

we could see silver correct down to the $39 level (i.e. -15%) and possibly go down to the $33 level (i.e. -28%) which would correspond to the “Plunge” phase of the gold index.

 

http://www.kitco.com/ind/Yu/may042011.html

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"Three Peaks and the Domed House" Pattern Suggests Gold Going to $1,290!

 

the “Plunge” phase has now begun and gold should experience a 17% decline to $1,290 per ozt.by the end of June.

 

we could see silver correct down to the $39 level (i.e. -15%) and possibly go down to the $33 level (i.e. -28%) which would correspond to the “Plunge” phase of the gold index.

 

http://www.kitco.com/ind/Yu/may042011.html

 

Could be so and a great opportunity to get rid of any fiat still remaining.

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Maybe some of you guys will find this here as useful as I:

 

(1) Copy the code/text below into an empty "notepad" file.

(2) Save it e.g. to your desktop as "gold_silver.html" under type "All Files".

(3) Double-click it and enjoy. Just hit reload for updates.

 

<html><head>
<title>Gold:Silver</title>
</head><body text="#000000" bgcolor="#ffffff" link="#0000ef" vlink="#51188e" alink="#ff0000">


<img src="http://www.chartseeker.com/images/XAUXAG-24HR-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAUXAG-5Dy-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAUXAG-1Y-LG.png" nosave="">
<br>

<img src="http://www.chartseeker.com/images/AG-24HR-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/AG-5Dy-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/AG-1Y-LG.png" nosave="">
<br>

<img src="http://www.chartseeker.com/images/AU-24HR-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/AU-5Dy-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/AU-1Y-LG.png" nosave="">
<br>

<img src="http://www.chartseeker.com/images/XAGGBPOZ-24HR-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAGGBPOZ-5Dy-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAGGBPOZ-1Y-LG.png" nosave="">
<br>

<img src="http://www.chartseeker.com/images/XAUGBPOZ-24HR-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAUGBPOZ-5Dy-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAUGBPOZ-1Y-LG.png" nosave="">
<br>

<img src="http://www.chartseeker.com/images/XAGEUROZ-24HR-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAGEUROZ-5Dy-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAGEUROZ-1Y-LG.png" nosave="">
<br>

<img src="http://www.chartseeker.com/images/XAUEUROZ-24HR-LG.png" nosave="">

<img src="http://www.chartseeker.com/images/XAUEUROZ-5Dy-LG.png" nosave="">
<img src="http://www.chartseeker.com/images/XAUEUROZ-1Y-LG.png" nosave="">
<br>

</body></html>

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PRECIOUS-Silver dives for 5th day, set for worst week since 1983

Thu May 5, 2011 4:33pm GMT

 

* Silver set for biggest weekly slide since at least 1983

* iShares Silver ETF holdings drop, most since early 2008

* Gold dragged down as much as 2 pct in commodities rout

 

Silver has now lost more than 20 percent, the conventional

criteria for a bear market, since it surged to a record high

near $50 an ounce last Thursday. Silver's sharp decline for a

fifth day appeared to trigger sharp losses in crude oil and

other commodities. The Reuters/Jefferies CRB index .CRB was

set for its biggest weekly fall since late 2008.

 

"It's going to be a long time before silver can find a

bottom to turn higher again," said Dennis Gartman, publisher of

the Gartman Letter.

 

"When you have this kind of damage, it will take several

weeks or maybe several months for people to be taken out, and

for confidence to be rebuilt," said Gartman. "It's not the end

of the commodities cycle, not even close."

 

Spot silver XAG= fell as much as 8 percent to a six-week

low of $35.82 an ounce, down about 25 percent so far this week.

 

Was silver a bubble? I think to a large extent it was. It's

notoriously volatile. The fundamentals of silver are simply not

as good as gold's," said Stephen Briggs, analyst at BNP

Paribas.

 

Investors scrambled out of physical silver, as reflected by

the 15.3 million-ounce fall on Thursday in metal holdings in

global ETFs, with the world's largest -- the iShares Silver

Trust staging the second-biggest one-day fall since its

inception in 2006. [GOL/ETF]

 

http://af.reuters.com/article/metalsNews/idAFLDE7440RL20110505

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I am looking for the silver bottom.

502e_silver.jpg

 

I haven't dived in yet, but a -12% in a day fall doesn't half look tempting.

I bought a little gold and a single ounce silver coin today to reward myself for picking the intermediate "electronic" silver top over the last week..

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