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Wednesday
Mar102010

Minco Silver Corporation Up 33% in a Week

Minco Chart 11 March 2010.JPG



As we can see from the above chart Minco Silver Corporation (MSV) has put on about 33% over the last seven days on little in the way of news and no real increase in the volume of stock traded. The technical indicators have moved dramatically and are now in the overbought zone so we could be in for some profit taking.

We bought for this stock many moons ago for $2.80 as a speculative move, it later dropped to trade at $0.40, which was a great disappoint for us, however since then it has been showing signs of recovery when progressing to $1.50 level. The last seven days have seen the stock spike but the reason is not obvious to us at the moment, maybe one of our readers can enlighten us as to what is behind this sudden move to higher ground.

Maybe the run by silver prices from $15.00/oz to $17.00/oz has wet the appetite of some investors and enticed them to acquire some of Minco Silver's stock.

Minco Silver Corporation has a market capitalization of $81.19 million, has a 52 week trading range of $0.99 to $2.45 and closed today at $2.00.



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All the best.

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Reader Comments (3)

I can only assume that the spike in Minco's price is a direct result of their bid for the Sunshine Mine which Alberta star is also bidding for.
The auction date is within a few days time - not sure of the exact date

April 1, 2010 | Unregistered CommenterMike Delaney

They are no longer buying the Sunshine Mine. See Company Press Release "Minco Silver Expects to Receive the Repayment of All Investments Made to Sterling as a Result of its Unsuccessful Bid to Acquire the Sterling Mining Company"

http://www.mincosilver.ca/s/NewsReleases.asp?ReportID=396272&_Type=News&_Title=Minco-Silver-Expects-to-Receive-the-Repayment-of-All-Investments-Made-to-St...

May 3, 2010 | Unregistered CommenterLC

LC,

Thanks for that – we had missed it.

May 3, 2010 | Unregistered CommenterSilver Prices

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