Our Call options on Kinross Gold Corporation gained over 100% in price and triggered our sell order as the stock of the Kinross Gold Corporation rose 4.39% to close at $23.23.

In just fifteen days this trade has been very kind to us, as we have achieved our objective by doubling our stake.(read more……)

On the 17th June 2008 we purchased the JAN09 Call options at a strike price of $10.00 for $1.00 per contract for the Hecla Mining Company. At the time we were of the opinion that this stock was oversold having been sold down from the $13.00 level to close at $8.28 when we made our purchase.

On Friday the 27th June 2008 this stock closed at $9.72, up $0.94 or 10.71% on the day. The Call Options responded accordingly and put in a good day by finishing the session at $1.55 (read more…)

Agnico-Eagle Mines up 7.76%, Yamana Gold Incorporated up 6.84%, Kinross Gold Corporation up 11.76%, Randgold Resources up 5.39%, Pan American Silver Corporation up 7.74%, Silver Wheaton Corporation up 9.38%.

We are pleased to report that these are some of the precious metals stocks that constitute a major part of our investment portfolio and have had a great day!(read more….)

As we write silver is trading at $17.39/oz, as it continues to consolidate over the summer period. As we anticipated, silver came within $0.50 of its 200dma before turning north. The 200dma is moving up and now stands at $16.11, which will ultimately support silver prices going forward. If you agree with us that there will be a terrific end of year rally in silver prices then now is the time to be accumulating a few more of your favourite silver stocks (read more…)

Hecla Mining Company has just announced that it is sell its Venezuelan activities to Rusoro Mining Limited for $25 million, of which £20 million is in cash and remainder in shares of Rusoro common stock.

Company President and CEO, Phillips S. Baker, Jr., said that:

“The sale of our Venezuelan properties is part of our strategy to reduce the financing put in place to acquire Greens Creek. Prior to this transaction, Hecla repatriated approximately $39 million in cash that generated a $14 million foreign exchange loss. This transaction generates immediate cash from both the sale of the assets and the repatriation of $25 million of cash from our Venezuelan subsidiaries (read more…)

Charts courtesy www.stockcharts.com

Continuing with the deployment of our opportunity cash we acquired more of Pan American Silver Corporation at $31.06 today. As we can see from the chart this stock has been sold off from a high of $42.00 to around $30.00 recently and hopefully the downside is limited (read more…)

The market reacted positively to Endeavours latest news release with turnover up from an average volume of 118,000 to 259,000, adding $0.27 to close at $3.15. The excitement is predicated on the news that Endeavour has encountered several new zones of high grade silver mineralization, including 6,680 gpt silver and 11.2 gpt gold over 1.15 m in drill hole EPS3-1.

From the companies web site we can glean the following (read more…)

Today we purchased the JAN09 Call options at a strike price of $10.00 for $1.00 per contract for the Hecla Mining Company. As we can see from the chart the stock appears to be oversold having been sold down from the $13.00 level to close at $8.28 today (read more…)

As you are aware our strategy on the way up was to take some profits off the table as various precious metals stocks became overbought. By adopting this strategy we have managed to lock in some profits and also to generate some ‘opportunity cash’, which we can now deploy at cheaper entry prices (read more…)

Having missed out recently in our attempt to purchase call options on Kinross Gold Corporation we managed to bag a few today. We bought the JAN09 series at a strike price of $20.00 for an average of $2.68.

This trade will be funded from the ‘opportunity cash’ that forms part of our trading account. Kinross we believe is undervalued at the moment and as we can see from the chart the stock price is now below the 200dma and the technical indicators suggest that this stock is now oversold.(Read more)