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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