Silber Companies - Liste und Neues

    • Offizieller Beitrag
    Zitat

    Original von Tschonko
    (....)
    Eldo hat mich überholt!
    Wo ist denn der, hat sich der schon in Kärnten vergraben? :D
    (....)


    Moin ;)


    Eldo hat sich bis zum 9.06.abgemeldet, u.zw . im Rohölsräd.
    Seine lange Forum - Abstinenz ist aber schon ungewöhnlich. :)


    BZA ist effektiv schwach, auch kürzlich verkauft.


    Aber auch FR, hatte das im FR Sräd kürzlich schon befürchtet.


    Sztaba hat sich zu den Käufen um ATH hier geäussert :


    http://www.321gold.com/editorials/sztaba/sztaba042407.html


    Aber wie schön, er hat auch nicht immer Recht. =)


    Grüsse
    Edel Man


    "Die Märkte haben nie unrecht, die Menschen oft." Jesse Livermore, 20.Jh.


    "Die Demokratie ist das Paradies der Schreier und Schwätzer, Phraseure, Schmeichler und Schmarotzer, die jedem sachlichen Talent weit mehr den Weg verlegen, als dies in einer anderen Verfassungsform vorkommt." E.von Hartmann


    Dieser Beitrag ist eine persönliche Meinung gem. Art.5 Abs.1 GG und Urteil des BVG 1 BvR 1384/16

  • Hab heute wie angekündigt, meinen letzten im contest FR.V nachgekauft.
    Möglich ein Griff ins fallende Messer.
    Da war heute Flucht angesagt in D....


    Hab mich beim Zironenrisotto mit ultrascharfem Japanmesser aber auch nicht geschnitten. :D


    Grüße
    Tschonko

  • Hallo Nugget,
    ich kenn beide nicht sooo genau.
    Über Tara gibt´s glaub ich, was auf Goldseiten.
    sind halt noch pink sheet.


    Paramount: das Mexico Gebiet ist sehr gut - Chiahuahua.
    Peru Projekt kenn ich nicht so gut.
    Streben ein höreres Listening an.
    Sind halt sehr gut gelaufen, aber zu Recht.


    Grüße
    Tschonko


    Ahja vergessen: Silver eagle hat trading halt
    Ob´s damit zusammenhängt
    http://biz.yahoo.com/ccn/070427/200704270386836001.html?.v=1
    oder ein böser Finger.....??


    Zu FR.V: da hab ich grundposition seit 05. Nicht angetastet.


    Dann bin ich bei FSR rein, die übernommen wurden von FR.V und kam mit dieserr Position ziemlich ins Hintertreffen (3,28€)
    Hab dann noch mal eine selbe Position zu 3,04€ gekauft.
    Die 3,28 er dann im März 07 verkauft zu 3,56€.
    Und heute wieder selbe Anzahl zu 2,84€ gekauft.
    Gfällt ma..... :D

    "Confusion is a word we have invented for an order which is not understood." Henry Miller

    3 Mal editiert, zuletzt von Tschonko ()

  • FR.V: gestern in D über 1,3 Mille gehandelt.
    In Kanada nicht ganz 600000.
    Da haben sich gestern schon einige selbst in den 1. Mai geschickt.


    (Am 1. Mai schickt man traditionell den Esel ins Heu (Hei)


    Grundsätzlich sollte man skeptisch sein, wenn in D mehr Handel als an der Heimatbörse ist.
    Außer man weiß, was gespielt wird... :D
    Waren ja einige Börsenbriefe in D beteiligt.


    Miners day in Leoben (Ö). Fährt da wer hin?
    FR.V ist auch vertreten u.a.


    SEG.TO: hab keine Meldung (trading halt) gefunden, die diesen rechtfertigte. Vielleicht ein Financing??


    Grüße
    Tschonko

  • Silver Eagle Announces Pricing of Proposed Financing
    4/30/2007


    TORONTO, ONTARIO, Apr 30, 2007 (CCNMatthews via COMTEX News Network) --
    THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.


    Silver Eagle Mines Inc. ("Silver Eagle") (TSX:SEG) is pleased to announce that it has agreed to pricing for its previously announced public offering of units. Silver Eagle's offering will consist of up to 17,400,000 units at a price of C$1.50 per unit, for aggregate gross proceeds of up to C$26,100,000. Each unit shall be comprised of one common share and one-half of one common share purchase warrant. Each full warrant will entitle the holder to purchase one common share for a period of eighteen months following the closing at a price of C$2.03 per share.


    In connection with the offering, Silver Eagle will also grant the agents an option to purchase up to an additional 15% of the offering (up to 2,600,000 shares and 1,300,000 warrants) for a period of 30 days from the closing of the offering, to cover over-allotments, if any, and for market stabilization purposes. If the over-allotment option is exercised in full, gross proceeds of the offering would be approximately C$30,000,000.


    The completion of the offering is subject to, among other things, the approval of the Toronto Stock Exchange, and the applicable Canadian securities commissions. Completion is expected on or about May 10, 2007.


    Cormark Securities Inc. and Blackmont Capital Inc. are acting as co-lead agents in connection with the offering, together with a syndicate that includes Fraser Mackenzie Limited and TD Securities Inc.


    The Offering is being made in all provinces of Canada except Quebec by means of a short form prospectus, and is subject to, among other things, the approval of securities regulatory authorities, the approval of the Toronto Stock Exchange and the termination rights granted to the Agents under the Agreement. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements.


    This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.


    ON BEHALF OF THE BOARD OF DIRECTORS OF SILVER EAGLE MINES INC.


    Terrence H. Byberg, President and CEO



    Die PPs werden immer größer, 30 mio für die mcap schon riesig.


    Grüße


    Silbernugget

  • Zitat

    Original von Tschonko
    1. Mai schickt man traditionell den Esel ins Heu (Hei)



    Grüße
    Tschonko


    Tschonko


    ..vielleicht auch am 1. April ??? :D

    Grüße
    Silberfuchs


    ----------------------------------------------------------------------------------------------------------------
    "Stirbt ein Bediensteter während einer Dienstreise, so ist damit die Dienstreise beendet."
    (Kommentar zum Bundesreisekostengesetz)

  • @fuchs,
    am 1. Aprül schickt man den Esel in die Mühl.......


    Die haben sich wohl gewundert, dass im April nichts war und haben sich freiwillig ins Heu begeben.......
    Wenn man sich FR heute anschaut (Minihandel) werden sich einige beißen wollen...


    Nugget,
    30 mille ist gewaltig. Was haben die vor?
    Nur zum produktion rauffahren brauchen die nicht so viel.


    Vielleicht ssieht man da was?


    http://www.silvereaglemines.com/map.php


    [Blockierte Grafik: http://www.silvereaglemines.com/map.php]


    Bring das Bild nicht rein!!!


    Die Vision von Silver Eagle:


    "To create an Americas focussed, multi-mine, mid-tier silver producing company."




    Impact und Yale:
    Rechne mit den Ergebnissen Mitte Juni.


    http://biz.yahoo.com/iw/070501/0246554.html


    Yale and Impact Finish Phase One Drill Program at Zacatecas
    Tuesday May 1, 12:53 pm ET


    VANCOUVER, BC--(MARKET WIRE)--May 1, 2007 -- Yale Resources Ltd. (CDNX:YLL.V - News) (Frankfurt:YAB.F - News) is pleased to announce the Company has been informed by the operator, IMPACT Silver Corp. (IPT-V), of the completion of the initial drilling program at the Zacatecas Venture in Mexico. The program consisted of 16 diamond drill holes totalling 1815.75 metres. A total of 299 samples (including blanks and standards) have been sent to the lab and results will be reported when received and interpreted.



    UC Resources mit einer Meldung zu dem zugekauften Ontario Gebiet.


    http://biz.yahoo.com/ccn/070501/200705010387641001.html?.v=1
    UC Resources' Update on McFauld's VMS Project in Northern Ontario

    "Confusion is a word we have invented for an order which is not understood." Henry Miller

    5 Mal editiert, zuletzt von Tschonko ()

  • ...mir ist der Neckar näher :D

    Grüße
    Silberfuchs


    ----------------------------------------------------------------------------------------------------------------
    "Stirbt ein Bediensteter während einer Dienstreise, so ist damit die Dienstreise beendet."
    (Kommentar zum Bundesreisekostengesetz)

  • Und weiter geht´s!
    So vieeeel Land!



    Garibaldi Extends District Scale Acquisition Strategy Into Durango State and Expands Hyperspectral Survey
    Wednesday May 2, 9:00 am ET


    VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--May 2, 2007 -- Garibaldi Resources Corp. (the "Company") (CDNX:GGI.V - News) is pleased to announce the acquisition of another district scale, Sierra Madre exploration project to add to its portfolio of Mexican projects. Garibaldi now controls seven regional scale projects totaling over 4,000 square kilometers.


    ADVERTISEMENT
    click here
    The new Sianori concession was acquired by staking and consists of a 65,513 hectare concession application situated in north western Durango State. The project adjoins Great Panther Resources Topia Project and is located approximately 30 kilometers northwest of Chesapeake Gold's Metates Project and Penoles La Cienega Mine. Metates is a very large, low grade gold/silver deposit previously drilled by Cambior Inc. In 1996, Independent Mining Corp. of Tucson Arizona estimated tonnage and grade at 492 million tonnes at 0.74 g/t gold and 18.2 g/t silver, however, this estimate predates NI 43-101 and cannot be relied upon. A concession map showing the location of the Sianori concession is attached to this release.


    Like many of the other major projects in the Sierra Madre the concession covers an extensive erosional window in the Upper Level volcanic rocks and hosts numerous, historic, epithermal vein style, gold, silver and base metal occurrences. More importantly, however, is the fact that recent government mapping (2000) indicates there are several large zones of hydrothermal alteration within the concession area, some of which were sampled by the Consejo Recursos Minerales "CRM" (Mexican Geological Survey) and reportedly contain anomalous gold and silver values.


    Management believes these large alteration zones have seen little if any prior exploration work and that they represent excellent potential for both lower grade, bulk tonnage and vein style, high grade epithermal targets. According to Chesapeake Gold, Metates is the largest undeveloped low grade gold deposit in Mexico. On the southern boundary of the concession application Aurelio Resources have identified extensive hydrothermal alteration zones containing elevated gold values on their 1,000 hectare Gavilanes project and are planning a drill program to test the bulk tonnage potential of this zone in 2007.


    The Sianori concession will form part of the upcoming fixed wing hyperspectral survey described in the Company's news release dated March 22, 2007.


    GARIBALDI RESOURCES CORP.


    Steve Regoci, President


    To view the map showing the location of the Sianori concession please click on the following link: http://www.ccnmatthews.com/docs/ggi0502.pdf



    The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release


    Contacts:
    Garibaldi Resources Corp., Steve Regoci, President
    (604) 488-8828
    (604) 488-8871 (FAX)
    Website: http://www.garibaldiresources.com

  • @ all


    Hat jemand von euch News zu Minco Silver, der Kurs kennt wohl seit geraumer Zeit nur eine Richtung. Meint ihr, es lohnt sich ein Einstieg mit einer kleinen Position. Produzieren immerhin seit ein paar Monaten...


    Gruß
    Lenz

  • News keine, halte MSV.TO selber und habe mehrfach gekauft.
    Silver Standart hält 19% mit der Option auf 30% aufzustocken.
    Im Fuwan Projekt sind bereits 130Mio Unzen Silber an Ressourcen vorhanden bei durchschnittlich 180g/t und es gibt weiterhin erstklassiges Explorationspotential. Ich sehe keinen Haken, meiner Meinung nach derzeit immer noch billig.

  • Coeur d'Alene Mines, Bolnisi and Palmarejo Announce Agreement to Merge in Transaction Valued at Approximately $1.1 Billion
    5/3/2007

    COEUR D'ALENE, IDAHO & SYDNEY, AUSTRALIA & LONGUEUIL, QUEBEC, May 3, 2007 (Canada NewsWire via COMTEX News Network) --
    To Create World's Leading Primary Silver Company


    Coeur d'Alene Mines Corporation (NYSE:CDE) (TSX:CDM) ("Coeur"), Bolnisi Gold NL (ASX:BSG) ("Bolnisi") and Palmarejo Silver and Gold Corporation (TSX-V:PJO) ("Palmarejo") announced today that they have entered into agreements, which have been approved unanimously by their respective boards of directors, as well as a special committee of independent directors of the Palmarejo board of directors, to merge creating the world's leading primary silver producer. Pursuant to the agreements, Coeur will acquire all of the shares of Bolnisi, and all of the shares of Palmarejo not owned by Bolnisi, in a transaction valued at approximately US$1.1 billion (the "Transaction").


    Under the terms of the Transaction, Bolnisi shareholders will receive 0.682 Coeur shares for each Bolnisi share they own (or, at the election of the Bolnisi shareholder, CHESS Depositary Interests representing Coeur shares), and Palmarejo shareholders will receive 2.715 Coeur shares for each Palmarejo share they own. It is anticipated that this will result in Coeur issuing a total of approximately 271.3 million new shares. In addition, Bolnisi and Palmarejo shareholders will receive a nominal cash payment equal to A$0.004 (US$0.003) per Bolnisi share and C$0.004 (US$0.003) per Palmarejo share.(1)



    Grüße


    Silbernugget

  • Hallo Nugget,
    das ist ja ein Hammer!
    Für die CDE mit ihrer Bolivienlastigkeit ein gutes Ding.
    Für die Übernommenen??
    Ist aber ausbaufähig.....


    Mich freut´s, dass Gammon Lake dadurch wieder steigt... :D

  • Hallo Tschonko,


    mich juckt es in den Fingern mehr GGI zu kaufen, nach dieser Übernahme, und nach der GGI news von gestern. Jedes ihrer Gebiete ist aufgrund der Größe und Lage ohne Exploration schon 10 mio Wert.
    also 1.5-2 CAD konservatives Ziel . Falls sie was finden dann siehe PJO ;)


    Grüße
    Silbernugget

  • Sei vorsichtig mit Garibaldi.
    Wollen die überhaupt bohren?
    Ich mein, ich hab sie auch und hab die schon im Nov 06 erwähnt, weil mir die Kombination so gefallen hat.


    Manche meinen ja, wenn man diese Bilder vom Satelliten hat, dann weiß man schon, wo man zu bohren hat! :D
    Großflächig richtig.


    Die sind jetzt dort , wo palmarejo vor Jahren war.


    Glaub auch, dass die noch mal zurückkommt.



    Guter Artikel zu Gammon Lake:
    da find ich mich wieder in dem Schreiber, noch dazu in besserer Qualität! :D


    http://biz.yahoo.com/seekingalpha/070503/34359_id.html?.v=2
    gute Hyperlinks!!!


    Gammon Lake Resources: Another Mexican Treasure
    Thursday May 3, 4:03 am ET



    Trey Wasser (III-D Capital) submits: I recently wrote about the "Treasure of the Sierra Madre" focusing on the “bootstrap” mining methods being employed by some of the junior mining companies. Re-opening old mines with smaller mills and re-built infrastructure is proving profitable for many juniors. However, I do not want to leave readers with the impression that this is the only “treasure” being uncovered in the Mexican Mining Industry.

    Mexico is very mining friendly. They have reasonable environmental laws and are consistent in their assessments and permitting. Mexico’s long history of mining has produced a large labor force that is very talented. Labor costs are reasonable and foreign ownership of Mexican Mines is widely accepted. Social programs are helping to cement local relations and stimulate the economy. Several junior companies have recently discovered and are developing some very productive and profitable mines in Mexico.


    One of my favorites is Gammon Lake Resources (AMEX: GRS - News). Gammon Lake discovered a significant gold/silver deposit in the Ocampo District in 1998. Production at Ocampo began in 2006, and after a few problems with metallurgy, is now in full commercial production. What is especially impressive about GRS is that in only 8 years they went from initial discovery to becoming Mexico’s largest gold producer.


    The Ocampo Mine is an excellent example of the extraordinary potential of newly developed mines in Mexico. Ocampo is located in the Northern Sierra Madres in the State of Chihuahua. Historically, Chihuahua is probably the most under-explored states in Mexico. What makes Ocampo particularly attractive is that it is actually two mines, an open pit heap leach operation and a very high grade underground mine with a mill and flotation system. Recovery rates at both mines are extremely high.


    The open pit mine has high grade veins that average as much as 19.7 GOE per ton as well a low grade overburden. Even the overburden pays to be mined, so Ocampo has literally no waste rock. In addition, the highest grades from the pit are taken to the mill where recoveries are 96% for gold and 93% for silver. Conversely, the lower grades from the underground mine are taken to the leach pad. The Ocampo silver ore is a silver sulfide, which is cyanide-soluble. This results in extremely high recovery rates for silver. This efficient operation allows GRS to maintain cash costs at under $200 per gold equivalent ounce.


    The feasibility study, released in 2004, indicated production for the first several years of 170,000 ounces of gold and 6MM ounces of silver. However, 2007 production is now estimated at 200,000 oz gold and 10MM oz silver. The underground mine currently is out-producing the mill. The stopes are much longer than originally estimated. Plus a second underground mine is already being added this year. By adding a filter press, for $2.4MM, 2008 production will grow to 240,000 oz gold and 12MM oz silver. Next year, they will add 3 new leach tanks and increase 2009 production to 280.000 oz gold and 15MM oz silver. Mine life has grown from 7 years in the Feasibility Study to over 13 years today. Resources continue to grow as GRS drills the property. Total resources are now 8MM ounces of gold and 400MM ounces of silver. While about half of these are inferred resources, they are already mining one vein of inferred mineralization and seeing grades averaging 11.5 GOE per ton. Only about 30% of the Ocampo District has been drilled.


    The infrastructure at Ocampo is state of the art. They have their own power plant and a modern hotel for workers. Ocampo is already one of the largest and most profitable precious metal mines in Mexico. Steven Saville, of TSI, likens it to Goldcorp’s Redlake Mine which is considered the highest grade gold mine in the Americas.


    Gammon Lakes also owns the El Cubo mine. El Cubo was acquired through the Mexgold merger last year. GRS has increased production by 100% since 2005 and more improvements are on the way. Recent drilling results indicate that the El Cubo complex will see significant resource increases and may validate an open pit operation. Production for 2007 should be 83,000 GOE growing to over 132,000 GOE by 2009.


    Overall production is projected to grow, organically, about 50% from 420,000 GOE in 2007 to over 610,000 GOE in 2009.


    GRS also has a very promising prospect at Guadalupe y Calvo. This is a historic mine where grades were so high that the Mexican government erected a mint right at the mine-site. The Company has really not focused on this project since the Mexgold merger as they have been concentrating most of their drilling dollars at Ocampo and El Cubo. But this very rich district has been underexplored and historic mining always stopped at the water table.


    April 2007 was a very busy month for GRS. Early in the month, the Company announced the appointment of Richard Barwick as the the CEO. Barwick is a seasoned veteran with 33 years of experience. Most recently he was COO of Wheaton River-Goldcorp. This news was followed by the announcement of a $200MM secondary offering. The Company issued 10MM new shares at $20 (Canadian) with no warrants or other incentives. The funds will be used to payoff the Ocampo debt (about $132MM0 and speed up the improvements at Ocampo/El Cubo. This will accelerate production growth at least 6-8 months, according to the Company. This means that GRS could be producing close to 50,000 GOE per month by late 2008 or early 2009.


    At today’s price of $16, Gammon Lakes is selling at 13 times 2007 earnings and 12 times cash flow. They were one of the companies I highlighted in my report titled “Gold Stocks Earnings to Shine in 2007”. While the majors struggle with declining production and skyrocketing costs, there are selected mid-tier producers, such as Gammon Lake Resources, that offer extraordinary fundamental value.


    GRS is a solid core holding in my portfolio with a 12 month price target of $26 per share.


    GRS 1-yr chart




    http://biz.yahoo.com/ccn/070503/200705030388255001.html?.v=1


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    Press Release Source: ECU Silver Mining Inc.



    ECU Silver Announces New Development and Drilling Results in the Mineralized Corridor at Santa JuanaThursday May 3, 10:30 am ET
    Highlights: ECU has confirmed large packages of veins within the Mineralized Corridor.



    TORONTO, ONTARIO--(CCNMatthews - May 3, 2007) - Mr. Michel Roy, Chairman and CEO of ECU Silver Mining Inc. (TSX VENTURE:ECU - News) is very pleased to announce new development and drilling results from the Santa Juana area of the Velardena Project in Mexico. These results have had a positive and significant impact to the Company's progress in the evaluation of the Mineralized Corridor (MC) as first announced on December 18, 2006.

    Today's results strongly suggest that certain vein packages within the MC have grade profiles that are comparable to the corresponding narrow veins at Santa Juana as previously reported in the Company's N.I 43-101 in October 2006. However, equally important is the vein packages have significant widths which are essentially up to 24 times that of the narrow veins. This suggests that the vein packages are potentially amenable to bulk mining applications. However, the reader should be cautioned that until a pre-feasibility study is complete there can be no assurances of this happening.............................den letzten Satz kennen wir schon! :D

    "Confusion is a word we have invented for an order which is not understood." Henry Miller

    Einmal editiert, zuletzt von Tschonko ()

  • Danke werde vorsichtig sein.
    Ich setze auf die connections von Megaw : MAG,EXN,Penoles...
    Außerdem werde ich engmaschig sedar und Insideraktionen beobachten. Bei signifikanten Verkäufen kommt ein anderer Wert ins Depot. Hab ja noch ein paar andere Pferde im Stall.


    Hör Dir mal diese Interviews mit Regoci an:


    http://opportunityshow.net/podcasts.html


    Vom 03.04 und vom 18.04. machen einen guten Eindruck.


    Grüße
    Silbernugget

  • Hommel über KS.V, TM.V, IMI.V, MTB.V, SVG.V, mit ein paar klaren Worten:


    None of these companies are making money mining. None of these companies are even close to mining anything, except Klondike. First, exploration companies have to locate drill targets, which may take up to a year or more. Then, they have to do a small first round of drilling, which also may take up to a year or more. If they are blessed, they may end up doing further rounds of "resource" drilling to prove up a resource which may take up to a year or more. Then, they may conduct a pre-feasibility study which may take up to a year or more. Then, they may have to secure a mining permit which may take up to a year or more, and do environmental impact studies which may take up to a year or more. Then, they have to do a final feasibility study which may take up to a year or more. Then, they have to raise the money to construct a mine which may take up to a year or more. Then, they have to spend that money to build a mine which may take up to a year or more. Then, they have to hire all the people to run the mine which may take up to a year or more, assuming that their project is good enough to attract top people away from other less exciting projects. And if they are very fortunate, after 5-15 years, hopefully when silver prices are higher, they may show a profit from mining silver, or gold, or maybe something else that they may find, such as zinc or molybdenum. But in this environment of low silver prices; hardly anyone makes money mining silver today, which is why these companies are so cheap, and are being mostly cautious about not spending too much money too quickly. 8)


    VG heron

  • heron,
    das passt ja hervorragend zum Thema mit Garibaldi.


    Nugget
    Die müssen jetzt mal klar sagen, was sie wollen.
    Dr.Megaw ist ja Berater und der kennt sich aus.
    Aber arbeiten müssen andere.
    Die stakes und ide Idee ist genial.
    Regoci hatte ich mir zum teil schon vorher angehört.


    Die IMI.V hab ich zwar eingebucht aber noch immer nicht handelbar.
    Wie schaut´s bei euch aus?


    Szabo zum CDE Deal:
    Fett: das frag ich mich auch schon länger? :D
    Warum gehen die fast aus dem Valley raus?
    alle anderen wollen rein????




    An astonishing development has taken place in silver stocks today with Coeur (CDE) announcing a friendly takeover of Palmarejo and its parent company, Australian Bolnisi for US$1.1 billion in stock. Assuming it can maintain the current share price, which is a big if in my mind, this deal would catapult CDE into the ranks of Silver Wheaton, Pan American and Silver Standard in terms of market value and resource base. Recently, I spoke of CDE's low price and P/E ratio as a possible opportunity to acquire a major silver stock on the cheap. The Palmarejo deal, however, creates a lot of uncertainty and dilution, essentially changing everything. I will have to analyze the implications in a bit more detail than I have so far, but for now I would say that CDE shares are likely to have plenty of trouble and resistance moving substantially higher in the next few months. With a growing universe of silver stocks to choose from, I just don't see any compelling reasons why CDE should be a major component of one's portfolio even when considering how cheap it is.


    Here is what I wrote about this deal for Resource Investor:

    This is not a bad deal for Palmarejo shareholders in the short term, but does carry the risk of deflating deal value given that CDE has just plumbed a new 52 week low. From CDE's perspective, the Palmarejo property is pretty exciting and obviously justifies a premium to account for exploration upside and expected low production costs. Is it too expensive? I suppose the market will determine that.
    On the other hand, I am having a hard time understanding what CDE is trying to accomplish. Last year, they sold their Silver Valley, Idaho properties including infrastructure for $15 million to U.S. Silver after allowing the operation to languish due to underinvestment, uncontrolled costs and a dwindling resource base. Since then, a basic exploration program has increased reported resources to around 60 million ounces of silver equivalent while production continues to ramp up. In contrast, CDE is acquiring a development project for approximately US$1 billion containing roughly 150 million ounces of silver equivalent. One of the stated benefits of the merger is the mining expertise CDE management brings to the table, but judging by the failure to extract full value from the Silver Valley properties, that claim is not very convincing. It may very well be worth the price in the longer run, but the strategy and timing appear highly suspect to me. I don't think the major issue is replacing reserves but rather the lost production from the Galena and Rochester mines, so in that sense I suppose CDE was desperate to make something happen. On the other hand, the deal with Palmarejo smells of "me too" and ego given that the combined silver company will have a market cap (based on today's share prices) similar to the trifecta of Silver Wheaton, Silver Standard and Pan American. Yet the fact remains that if separately CDE and Palmarejo were each having problems surmounting a market cap of $1 billion, they are going to have at least as much difficulty conquering a combined market cap of $2 billion together.

    "Confusion is a word we have invented for an order which is not understood." Henry Miller

    Einmal editiert, zuletzt von Tschonko ()

Schriftgröße:  A A A A A