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Nickelless
Administrator
USA
5580 Posts |
 Posted - 04/15/2009 : 03:24:50
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I'm seriously thinking about moving a little cash (less than $1000 at the moment) into silver mining stocks given the huge upside most of us silver bulls are expecting in terms of metal price, but I'm not very familiar with any major silver mining companies or what to look for in terms of strong mining companies. I realize nobody on this board is qualified to act as a financial advisor, but I'd at least like to know what I'm looking at before I start perusing listings on eTrade. Any of you have much experience with silver mining shares?
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 04/15/2009 : 06:09:18
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I want to know as well. Do tell.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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Gumby_5
Penny Sorter Member
USA
52 Posts |
Posted - 04/15/2009 : 08:26:54
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| SLV is the most common traded stock. EFT though. |
2000 halves Sorted
0 Silver of any kind
97 marked coins of various colors |
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No82s
Penny Pincher Member
USA
198 Posts |
Posted - 04/15/2009 : 11:12:20
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| Take a look at Hecla Mining (HL). I got in a month ago at 1.31 and its at 2.31 now. Mostly American mines. Do your own due diligence though before investing. There are a few others out there, but companies having alot of foreign interest make me leary, that nationalization thing ya know...kinda like what Obama does with banks. |
The difference between an optimist and a pessimist is that the pessimist is better informed. |
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Nickelless
Administrator
USA
5580 Posts |
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No82s
Penny Pincher Member
USA
198 Posts |
Posted - 04/15/2009 : 14:19:12
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| If I remember correctly Silver Wheaton isn't actually a miner, they buy futures or something similar from miners on the silver the miners have in the ground. Another I thought of after my other post was CDE Coeur de Alene Mines Corporation. |
The difference between an optimist and a pessimist is that the pessimist is better informed. |
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 04/15/2009 : 18:23:07
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goto: finance.yahoo.com and use the following stock tickers for the silver industry:
AGQ CDE GORO.OB PAAS SLV SLW SSRI
AGQ and SLV are electronically traded funds (ETF) AGQ is essentially a double SLV... whatever SLV does, AGQ does twice as much- up or down
PAAS and SLW are not "miners" but they do contract with miners for silver at very good rates (how would you like to buy silver for $4.50 an ounce for many years to come?)
CDE GORO.ob and SSRI are miners of silver and other PMs, but primarily silver (in ounces)
Of the 3 silver miners, I like CDE for leverage on current price, and SSRI for solid long term potential without the huge roller coaster ride. GORO.ob is for speculation.
Another one that I did not list above, because they do not mine anything yet, is MMG. They have interests in Mexican property that has been in the feasability stage for the last 3 or 4 years. The results are promising for zinc and silver, but I am sure they will find it difficult to gain financing to open a new mining operation. To me, they are a buyout target.
The big miners are a great way to diversify your PM mining stocks... FCX BHP AZC BVN GG GRS GSS HL HMY NEM NG NXG RGLD RIC SA SWC are good ones to look at. Most of these have a good mix of metals and mine locations.
The only places that you should be worried about socialization of mining is Bolivia and Venezuela. The rest of the countries are so poor (in leadership and wealth) that they will take any money they can get.
You've got your work cut out for you  |
goto the new and improved realcent: http://realcent.org |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 04/15/2009 : 18:31:16
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| HL looks pretty good. Weird though how it's stock price right now is right where it was before 9/11/01. It would be nice if it paid dividends since it looks like something worth holding onto for a while. |
"99% of all lawyers give the rest of them a bad name" 
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Nickelless
Administrator
USA
5580 Posts |
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hector6man
Penny Pincher Member
USA
129 Posts |
Posted - 04/16/2009 : 10:50:40
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| I think you should diversify you money into different silver stocks! I had bought CDE at .65 2725 shares had it for about a month and it didn't move so I sold. Well this always happens to me so the next day it went up and up and up. Know its at a dollar 16. HL also made a big jump too. In my opinion I wouldn't purchase SLV because its reflects Silver Bullion. On that note just purchase physical bullion. Hope that helps. Heres a website that will help. Silverstockreport.com, this guy is great and will help you with your journey in investing. |
"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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WIZARD1
Penny Sorter Member
USA
48 Posts |
Posted - 04/19/2009 : 09:05:07
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| cheaper side great panther resources around .45 a share mid id go first majestic silver 1.80 and higher mag silver around 4.40 you will do fine in all of the above id wait about 2 more weeks most experts are looking at a bigger run after gold settles around 840 also the more you diversify into different stocks the more fees you pay buying and selling |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 04/19/2009 : 23:17:57
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quote:
Originally posted by WIZARD1
cheaper side great panther resources around .45 a share mid id go first majestic silver 1.80 and higher mag silver around 4.40 you will do fine in all of the above id wait about 2 more weeks most experts are looking at a bigger run after gold settles around 840 also the more you diversify into different stocks the more fees you pay buying and selling
I'll have more money to put down for stocks in about two weeks anyway, as I'm just going to use a few weeks worth of what I'd normally set aside to buy silver and use it to buy stocks instead, and I plan to hold them indefinitely at this point. But thanks for the timeline.
And commissions will only be about $10 on eTrade, so that shouldn't set me back too much. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Nickelless
Administrator
USA
5580 Posts |
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n/a
deleted
478 Posts |
Posted - 05/02/2009 : 12:01:17
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Hecla Mining ticker HL . They are taking silver out of the ground for LESS THAN $5.00 an ounce. They are also profitable. Gold, Lead and Zinc are also produced by HL. USA and overseas exposure. Risk tolerance: HIGH
You must be logged in to see this link.
You can buy 100 shares for less than $300. TD Ameritrade has 500 free trades for new accounts but read the fine print before signing up.
SLV is an exchange traded fund. There are most likely minimums associated with your initial purchase of SLV. |
Edited by - n/a on 05/02/2009 18:06:30 |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 05/03/2009 : 01:11:35
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| Nickelless and I are both proud owners of CDE now that he made the move. They have mines in multiple countries and a new one just came online. I think they are looking to get 20 million ounces out of it. Its still cheap at $1.45. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/03/2009 : 11:00:07
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quote:
Originally posted by CuproNickle
Hecla Mining ticker HL . They are taking silver out of the ground for LESS THAN $5.00 an ounce. They are also profitable. Gold, Lead and Zinc are also produced by HL. USA and overseas exposure. Risk tolerance: HIGH
You must be logged in to see this link.
You can buy 100 shares for less than $300. TD Ameritrade has 500 free trades for new accounts but read the fine print before signing up.
SLV is an exchange traded fund. There are most likely minimums associated with your initial purchase of SLV.
Thanks for the tip about HL, CuproNickle. Someone else mentioned them to me this weekend as well. I definitely plan to check them out in the next few days.
quote:
Originally posted by AGgressive Metal
Nickelless and I are both proud owners of CDE now that he made the move. They have mines in multiple countries and a new one just came online. I think they are looking to get 20 million ounces out of it. Its still cheap at $1.45.
And hopefully soon we'll be thousandaires! |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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hector6man
Penny Pincher Member
USA
129 Posts |
Posted - 05/03/2009 : 12:47:10
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| CDE all the way! |
"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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n/a
deleted
478 Posts |
Posted - 05/04/2009 : 18:57:48
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Nice moves today in both CDE and HL. Don't forget to take some profits off the table when dealing in high risk stocks.
When the stock doubles, sell enough to cover your initial purchase price (including capital gains taxes) and let the rest ride. Free stock! Just a suggestion. Don't get too greedy. |
Edited by - n/a on 05/04/2009 18:59:42 |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/04/2009 : 20:18:19
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quote:
Originally posted by CuproNickle
Nice moves today in both CDE and HL. Don't forget to take some profits off the table when dealing in high risk stocks.
When the stock doubles, sell enough to cover your initial purchase price (including capital gains taxes) and let the rest ride. Free stock! Just a suggestion. Don't get too greedy.
I'm buying and holding until the Dow passes its current record high--any bets on if that will ever happen?? I have total confidence in Obama's plan to rescue the economy.
**sobers up and gets rid of the drugs**
I'm not selling anytime soon. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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n/a
deleted
478 Posts |
Posted - 05/05/2009 : 07:30:46
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Just a reminder of what can happen to silver mining stocks. I got burned by this one. Now I take profits. I'll never buy and hold again.
October 1, 2000
Silver's continued poor performance finally caught up with Sunshine Mining and Refining as the company filed for Chapter 11 bankruptcy protection in August. In its filings in the US Bankruptcy Court in Delaware, the company listed $33 million in assets and $55 million in debts. Sunshine Mining said that "a severely depressed" silver market during the past 12 years and high operating costs led to the filing. |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/05/2009 : 11:00:20
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CuproNickle, if I remember correctly, October 2000 was near the lowest price silver has been at for at least the past 15 years. The market dynamics in general and in precious metals in particular are totally different now in 2009. We're worlds away from what the business scene looked like nine years ago.
I'm not using any "investment" money to buy mining stocks at this point, and the only stocks I plan to own at this point are mining stocks because of the likely probability that gold and especially silver will soar in the near future. I'm not planning to buy a lot of stock, probably just less than $1,000 worth at the time of purchase, just to see what happens. I'm not planning to put these in my 201(k) |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
Edited by - Nickelless on 05/05/2009 11:02:47 |
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n/a
deleted
478 Posts |
Posted - 05/05/2009 : 11:45:33
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| I hear you nickelles. Just posting this info so people know the risks. I have some "play money" in silver stocks also. Good luck! |
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Nickelless
Administrator
USA
5580 Posts |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/19/2009 : 11:22:11
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quote:
Originally posted by Nickelless
Y'know, the 10 calendar day lag time between the time eTrade pulls money from my checking account and when I can actually buy stock is driving me crazy. I think I'll trudge over to my old broker's office here in town next week and set things up to buy stock through her instead. This should save me a bit of frustration on having to wait.
A little while ago this morning, I talked to my broker at the former A.G. Edwards (I think they're owned by Wachovia now) and she quoted me a commission of $29.95 on a $150 trade! So I did some surfing around and it looks like Scottrade will be a bit cheaper and with a lot less lag time than eTrade. Any of you guys ever use Scottrade? |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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Nickelless
Administrator
USA
5580 Posts |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 06/06/2009 : 11:37:21
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quote:
Originally posted by Nickelless
quote:
Originally posted by Nickelless
Y'know, the 10 calendar day lag time between the time eTrade pulls money from my checking account and when I can actually buy stock is driving me crazy. I think I'll trudge over to my old broker's office here in town next week and set things up to buy stock through her instead. This should save me a bit of frustration on having to wait.
A little while ago this morning, I talked to my broker at the former A.G. Edwards (I think they're owned by Wachovia now) and she quoted me a commission of $29.95 on a $150 trade! So I did some surfing around and it looks like Scottrade will be a bit cheaper and with a lot less lag time than eTrade. Any of you guys ever use Scottrade?
I use it with no problems. |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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What to look for in silver mining stocks
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