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« New Zealand Mint – Yer Right! | Main | Silver Wheaton (SLW): Triangle Breakout? »
Wednesday
May062009

Minco Silver Corporation Up 40% Today

Minco Chart 07 May 09.JPG

This has just got to be our chart of the day, Minco Silver Corporation (MSV) catches fire with a whopping $0.52 increase adding 40% to the stock price to end the day at a $1.82.



Minco Silver Corporation trades on the TSX under the symbol MSV.TO, has a market capitalization of $58.46 million, a 52 week high of $4.00 and a 52 week low of $0.30. With this sort of volatility you do need nerves of high tensile steel to be a share holder, however, we are pleased and a little relieved that Minco is heading the right way.

In searching for a reason for this sudden jump in price we can only refer you to the news that they were granted a permit for the Fuwan Silver project located in Guangdong province, China. But this news hit the air waves on 29th April 2009 with little in the way of a response from the markets. Maybe it takes a week or so for investors to appreciate that this is a decent step forward. On the other hand we may have missed something that has happened today. To read the news release in full please click here. Anyway it is a glorious looking chart which will put a smile on the faces of the share holders.

It should also be an encouraging sign of things to come from many of the other silver producers who have yet to have their record day in the sun. Investors who have waited patiently for their stock to lengthen its stride will be handsomely rewarded. This silver bull has been preparing for a serious charge for sometime now and the longer this consolidation period lasts the greater the move will be when it comes.

Keep hold of your core position of silver producers otherwise you might be selling the bargain of the year – to us!

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Reader Comments (5)

Come on guys. The huge jump is due to the latest article from Bob Moriarity on buying silver for $.22/oz in the ground on 321 Gold website. I tried to buy some a month or so ago at $.88/sh but didn't fill. Why am I so lucky? HA HA

May 7, 2009 | Unregistered Commenterbulletbob

I agree with bulletbob, but also note that in that article it was mentioned that there would be news soon about the Sunshine Mine controversy. Maybe someone knows something.

May 7, 2009 | Unregistered CommenterBrunoinTX

I have held physical silver now for 14 years. Where is it headed and what is the time frame? I am getting tired and older. Will it ever get back to the prices when the Hunt brother's tried to corner the market?

Please help with these questions

May 7, 2009 | Unregistered CommenterL

bulletbob,

Better luck next time eh!

BrunoinTX,

We cant add anything about the Sunshine Mine controversy, but hopefully one of our readers might pop up with an insight or two.

May 7, 2009 | Unregistered CommenterSilver Prices

Is that the same Sunshine Mine in So Africa that reorganized several years ago and screwed the shareholders out of their shares??

John

May 8, 2009 | Unregistered CommenterJohn Ell

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