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« Endeavour Silver Corp: Finding that entry point! | Main | Silvers Golden Cross »

Minco Silver Corp: Appears to have formed a base

Minco Chart 18jun07

On the 27th April 2007 we acquired our first small purchase of Minco Silver Corporation partly in order to gain some exposure to silver exploration and mining in China.

Well since making our purchase this stock has dropped to trade at $2.17 on the TSE. As we said in our article entitled: “Minco Silver Corporation: An opportunity in China” we were making only a small investment at that time, as this is a precarious business at the best of times and Minco is a more adventurous move us for us as we have preferred to stick with the more solid silver producers. Anyway our intention is to make a further investment in Minco so we are now watching it very carefully indeed in order to detect any hint of a reversal in Minco’s fortunes.

From the chart above we can see that Minco appears to be forming a base, which is good sign. Also note that the technical indicators have visited the bottom of their respective ranges and are now trying to head north.

The company has also has retained SRK Consulting to prepare a Preliminary Economic Assessment for the Fuwan Silver Project. SRK will provide the skills required to reach the level of detail needed to meet Canadian standards in accordance with National Instrument 43-101 guidelines. This should be done in about three months and should certainly add some meat to the bone in terms of raising investor confidence levels.

We expect a buying opportunity to arrive in the next few weeks and we will post as soon as we think that it has arrived.

Hold on through this period of sombre summertime it will soon be behind us.

Minco Silver Corporation trades on the Toronto Stock Exchange under the symbol MSV.

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