I generally stay well away from mining / metal stocks (to be honest I stay away from single company stocks, I just generally stick to ETFs). A friend recommended this to me though, so am taking a little punt. It is supposedly Australias largest (and one of the worlds largest) untapped Silver mines. If/when they get going it could be big. Anyway, mostly just a bit of fun / long shot, but hopefully it pays off.
I stay FAR away from these highly speculative stocks. They have a high tendency of making your money disappear. You're better off going to the casino and dumping your money on black.
I do agree, have never purchased one before. This tip just came from someone I trust on the matter, however this doesn't really mean much I know.
That's normally how it happens. Someone you know gives you a tip (based on BS), next thing you know all your money is gone. I know this story to well with CCU
haha yeah, well definitely treating it as part of the entertainment budget, and not the savings/investment money.
Make sure you have an exit plan. I made a decent figure speculating on junior silver and gold companies in 2009-2011, but held too long with some or re-entered way too early and lost most of the gains. Ride the trend, but make sure you get out when it's looking like a mania (and stay out until the correction has played out properly). There are very few resource companies on the ASX that have leveraged exposure to silver (like SVL), so if they do run, they'll probably rise fast. Good luck!
Cheers. Yes I am ideally planning to get out my initial investment while still leaving a bit in there for further speculation.
Can anyone name any ASX primary silver companies that has actually done well in the last 10 years? (don't have to look far for an answer) Those ASX silver companies which didn't flop (yet) along with the others almost all have terrible, terrible charts. The market doesn't trust them (just like many small-mid cap gold stocks). On SVL's Bowdens Project: Discovered 30 years ago, with multiple owners since then. * CRA Exploration (1989 - 1994). Discovery and initial drilling. * Golden Shamrock Mines (1994 - 1997). Bowdens was sold when Golden Shamrock was bought by AngloGold Ashanti. * Silver Standard (1997 - 2011). * Kingsgate Resources then paid $75 million for Bowdens in 2011 (from Silver Standard), then sells it for $18 mill in 2016 (to SVL). Just a small blunder..... (KCN thought it could be in production by 2014...) Silver companies have a long history of 'mining' shareholders.
I also have this stock. I used the $600 I had found with my metal detector and took a punt.......at 17 cents.... Now I am down only about 60% instead of the 85% recently. Things are looking up.
didnt see it at 11, but saw it around 10. I am in at 7.8 so can't complain, was the only green on my screen though!
Was always coming I suppose. I bought at .078 and it is currently .081 - I wonder if I should bail out? Meh not my style! I will say though, it has always traded in the opposite direction to the bluechip / etf stocks, which have all had very strong days / weeks lately, so it could just be that.
I am currently waiting for golds overbought condition to remedy itself and then I will make a decision to invest again in this Titanic stock.
Alright Alright Alright. Not sure if now is the time to hop out for at least 50%, or just keep riding the punt?
I'm not sure if it is time to hop out for my 5%.......it is better than the 70% down that it was. 5% in 3 years....hmmmm 1.5% per annum. Maybe I should keep my day job for a while.