Congratulations....I have never made it big on my stock selections but I am always happy when someone else does. The young fellow at work picked up Silver Mines at 1 cent...10,000 of them early last year....currently around 17 cents now. If he holds that baby it will be well over the 1 or 2 million dollar mark in the next 10 years. Good for him, young family, hard worker what a great nest egg for them.
SVL had a 100:1 share consolidation (6.7bn shares to 67m shares on issure) in June when it acquired the Bowdens silver project off Kingsgate. So technically your friend's 1 cent purchase hasn't gone from 1c to 17c profit and the SVL chart doesn't look too enticing over last few years.
I blinked and there has a been a savage drop in SLR the last week or two. My entire portfolio (heavily mining focused) is done 20% recently. Ouch.
What is "flipped"? I don't get it. EDIT: Ah, got it, you flipped the graph for the previous drop. Wishful thinking that I sure hope is true, I'll holding a ton of SLR. 45c seems to have been the bottom though, it's held well for a long time now. So unless some fundamentals change, probably a safe entry point.
I probably should have said, i mirrored it from the bottom point. It seems to be following a mirrored path atm. If (when) gold does a big break out then it will most likely follow it's mirror path all the way up. So there is a chance my wishful thinking will come true. SLR seems to be well hedged, so i can't image it going down much more. But never say never.
Nice, I'm still holding SLR, been a while, and with hindsight bottomed out about 32c, I bought in at 18c previously. Looking back at my previous post, I called near the last top it seems.
"Silver Lake ended the quarter with a cash and bullion balance of A$87.3 million and has no debt. The A$20.6 million increase in cash from 31 December 2017 came despite the Company investing A$8 million in exploration and capital development at Mount Monger during the quarter." Impressive position to be in, and always nice to hold stock that has zero debt and continues to pull money out of the ground. Surely underrated?
That would be a really big leg up. They certainly have the cash position to do it. Up to 52c now, sill bullish.
Ok, I know nothing about this topic but what is the significance of the flip-lines coordinates on the map? Is it just because of the low point or could a prediction also be made by moving the flip-line three squares to the right? Please excuse my ignorance on this but my current lack of understanding of the subject leaves me no option but to laugh at the absurdity of the prediction method or to learn more about it. Was it a joke or is that really a method that people use to determine how their investments will perform?
They could pay a 5c dividend and it would only cost them $25M, still leaving them with $62M in cash with no debt, and continuing to pull gold out of the ground. No-brainer, surely? They can't continue to hoard the cash forever and not give back to shareholders.
There is no significance. For a short time it was following a mirrored path and i was just being wishful. So don't look too deep into it.
Still going: But it's just a blip on the 10yo graph. There is potential to get back to previous years highs.
SLR up almost 10% today, a "safe haven" stock it seems. From the last report $100M cash in the bank, no debt, and pulling 150k ounces out of the ground a year, what's not to like? Oh, yeah, lack of a dividend. If SLR ever starts to pay a dividend then it could very well be on the way up, eventually way up.