On the 18th June 2008 we made an additional acquisition of Pan American Silver Corporation (PAAS) as our research suggested that the downside for this stock looked limited. Since then PAAS has increased by $3.62 to close today at $34.68 (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…)

Some of our readers are stockholders of Apex Silver Mines Limited and have written expressing their concern about this stocks performance. Firstly, we must point out that we are not financial advisors; we represent a small group of investors in the United Kingdom and also invest our own funds in the precious metals markets. However we will throw our humble opinion into the ring in an attempt to answer our reader’s requests (read more…)

Bradford Cooke, Chairman and CEO of Endeavour Silver Corporation is suing Canaccord for not following their instructions to buy bonds and instead purchased $5 million dollars worth of Asset Backed Commercial paper (ABCP) (read more…)