Discussion in 'Stocks & Derivatives' started by 1for1, May 17, 2020.
Any thoughts on PNX metals?...don't know much on there history
I'm a big fan, and shareholder, of MYL. They have a deposit, its not just an exploration play. Yes, sovereign risk is an issue, but the price is very low (was low, starting to take off) to compensate. Risk vs. reward and the price was right in my opinion for the last 6 months or so.
I am in Myanmar metals and a member of the Pig group MYL is a great silver play. 10 th biggest in the world and once MIC Licence is received this is going to be re-rated. it was going to be a lead mine but due to the silver price a silver mine. CEO John Lamb is doing a great job,
What's the "Pig group"?
I'm still of the view that most ASX silver plays will never get into production (at least under current management/share structures). Many of the ASX silver companies have done well recently, only because of the rapid rise in US/AUD silver prices. There needs to be a sustained, multi-year rise in the silver price to underpin the economics behind many of these projects. Very few pure silver plays are economic over the long-term, and its why a lot of silver is mined as a bi-product of zinc-lead mines or copper-gold mines.
I see Manuka Resources (MKR) recently listed which now controls the Wonawinta silver project (near Cobar). I remember a lot of people were gun-hoe for this project under Cobar Consolidated Resources after they spent about A$60 million commissioning the plant. Then it had problems and was sold to Black Oak in 2014. Then Black Oak focused on extracting gold, cause silver wasn't enough, and it too went into financial difficulties and then administration in 2015.
So between the Twin Hills silver mine & Wonawinta silver mine, at various times over the last 10 years considered the best pure-silver projects in Australia, with commissioned plants to extract the silver, both have been in administration several times. How would the banks/soph investors feel today about building new plants for SVL, IVR, ARD, given commissioning of these projects is never smooth-sailing.
IVR, SVL did well to raise $8 million & $12 million recently and shows there is a bit more appetite for silver plays then most years of the last decade.
On MYL, personally I am not a fan of the country/political risk. SE Asian countries in general have not been kind to many ASX mining companies over the years. The minerals in the ground mean nothing if politics gets in the way.
If anyone has been trading the recent 'hype' behind the silver stocks, well done. Short-term trading opportunities often don't lead to long-term success for these companies.
I did exactly that, for MKR, since Monday up about 100%. I think i should get return of initial investment.
Its a private investor group which has a big position in MYL
So, what’s the advantage of a pig group over an individual?
Just go a few blue chip gold stocks guys. These are the ones that will pump/fomo buy in the bull trend. K-I-S-S !
The Twin Hills mine hot-potato game continues. JDR announcing today it will be buying the mine from now defunct Moreton Resources for just $0.5 million.
Like Barrack and Newmount?
What do people think of SLR? Silver lake Resources.
I got advice by my friend in the silver space to think about entering at $2.3. If silver continues going up long term.
He has been with them since their share price was below a dollar.
SLR is a Gold producer, not Silver
Thanks, yeah I read there report and it is. East coast friend didn't make that clear to me when on phone yesterday.
Yeah Silver lake Resources is a gold producer. Not only that, their highest by-product earner is copper, and.. Silver isn't even mentioned in their quarterly statement.
Just because they have silver in their name, doesn't mean they mine silver. Like I said before, there is no such thing as a silver mine (except for a few areas in south america), its a by-product that will usually get extracted with copper after the gold has been extracted.
Just buy the Aussie big cap gold miners. The whole world turns to Aussie gold stocks in these times.
You guys should of been reading this thread.. all the info was there.. lots of posts but...
I'm on 2.5 bags for ARD. Positive drill results will push higher but it's a hold rather than a buy for me right now.
Since I started this thread to promote he buying of silver stocks especially PMY.. most are up few 100% ... PMY from 0.3 to 2c yesterday in around a month and it's just getting started.
Hard to believe people were saying just stick with Goldie's.. most up 20% if they are lucky in the last month... Many not at all.
How high will silver stocks go? Well it all depends on the spot price action but looks like another double digit gain day!
@1for1 I agree mate... I jumped in early on SVL and put a little into PMY both are doing great
I must be holding different goldies to you!?
In the last month, I have:
The only dog I was holding was BCN, and I sold that.
Good to hear you and your Goldie's are performing well.
Funny you mention Beacon resources (BCN).. that is my favourite Australian stock and biggest accummulotor for me.. just a perfect match for my investment criterion.
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