Shoshone Silver/Gold Signs Option To Lease Agreement On World Class Exploration Properties In Southern Idaho
1:30p ET August 15, 2012 (PR NewsWire)
Shoshone Silver/Gold Mining Company (OTC: SHSH) (OTCQB: SHSH) announced today that it has entered into a 90-day due diligence option with Silver Leaf Exploration to lease 54 unpatented claims in Owyhee County, Idaho which comprise almost all of the historic Flint Mining District. Shoshone has paid Silver Leaf $15,000 as an option payment and will cover the BLM filing costs on the unpatented claims which are due by the end of August.
"We are very excited about this opportunity for Shoshone," stated Howard Crosby, Shoshone's president. "The Flint District has not been explored in any significant way for nearly 100 years, and we believe there is excellent potential for high grade silver and gold deposits analogous to the Silver City/Delamar District some 20 miles to the north," said Crosby.
No serious exploration or development in the Flint District has occurred since the early 1920's, and many of the exposed veins are unexplored both along strike and down dip. After exercising its option, Shoshone plans to conduct detailed surface mapping of the veins, conduct a geophysical survey of the claims, and develop drill targets to test the downward extension of the veins.
Upon exercise of the option to lease, Shoshone enters a mining lease with a 15-year primary term and agrees to pay Silver Leaf a 2.5% net smelter return royalty on metals produced, with advance minimum royalty payments ranging from $15,000 in the early years and increasing to $25,000 in later years. The lease also commits Shoshone to a schedule of work commitments beginning at $125,000 per year for the first three years, increasing to $175,000 in the next three years, and $225,000 annually thereafter.
The Silver City/Delamar District to the north of Shoshone's optioned property has produced over 34,000,000 ounces of silver and 1,600,000 ounces of gold, in a very similar geologic setting to that of the Flint District, which is characterized by high grade epithermal veins hosted in a granodiorite intrusive, with a suite of high grade silver minerals. According to Bulletin 11 from the Idaho Bureau of Mines, veins in the district range from 2 to 15 feet wide, and average grades within the ore shoots range from 20 to 50 ounces per ton silver and up to 1 ounce per ton in gold. A flotation concentrate from the Flint District in the 1920's averaged 635 ounces of silver, 1 ounce of gold, 1.3% copper, 2.4% lead, 2.4% zinc, and 7.6% antimony.
"We believe that this deal exemplifies our business strategy for revitalizing Shoshone," stated Greg Smith, Shoshone's chairman. "Having realized real value from our legacy asset in the Lakeview district through our deal with Black Mountain, we are dedicated to finding and acquiring high quality precious metal assets in the western United States," said Smith.
Shoshone Silver/Gold Mining Company is an exploration stage company based in Coeur d'Alene, Idaho. The Company was founded in 1969, and holds mining properties and mineral claims in Idaho, Montana, Arizona, and Washington.
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct.
These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others: general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; risks of junior exploration and pre-production activities; maintenance of important business relationships. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC, including the Annual Report on Form 10-K for the year ended September 30, 2011 and Quarterly Reports on Form 10-Q for the quarterly periods ended December 31, 2011, March 31, 2012, and June 30, 2012, and each subsequently filed Current Report on Form 8-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Contact: Shoshone Silver/Gold Mining CompanyHoward Crosby, CEO(509) 526-3491
SOURCE Shoshone Silver/Gold Mining Company
This guy must multi task well..
Current Active Postions
Black Mountain Resources Ltd. (The company that is planning on leasing the Lakeview Mill)
Chief Financial Officer, Principal Accounting Officer and Director
Big Bear Mining Corp.
Chief Financial Officer, Treasurer and Director
Shoshone Silver Mining Company
Chairman and Chief Executive Officer
Independence Resources Plc
Chairman of The Board, Chief Executive Officer and President
Silver Scott Mines, Inc.
Chairman of the Board and Director
Silver Verde May Mining Co., Inc.
Chief Financial Officer, Principal Accounting Officer, Vice President, Secretary, Treasurer, Director, Member of Compensation Committee and Member of Audit Committee
Trend Mining Co.
Former Secretary and Director
Western Goldfields Inc.
Former Director, Chairman of Compensation Committee and Chairman of Audit Committee
White Mountain Titanium Corp.
U.S. Silver Corporation
Former Commercial Director and Director
TomCo Energy Plc
Executive Vice President and Director
Former Chief Executive Officer and Director
Gold Crest Mines, Inc.
Gold Finder Explorations Ltd.
I really don't know EasyBet. The Pinksheets Authorized and Outstanding shares total is out of date.
The 10Q for 1st quarter came out a month and 21 days into the following quarter, so if history were to repeat itself, I'd say we can expect to see the next one by approximately August 21st (ish).
I believe Van Voorhies was brought in to find the buyer. Do you have any Idea when the 10Q is due and do you know for sure what the O/S is now?
Old or new is what I was looking for... sorry!
SHSH lol... see yesterdays 8k
I haven't heard. What do you mean? With SHSH or with the European summit or ...?
Who is that, that just resigned?
Spot Gold 1553.20, Silver 26.38, Silver Extend Losses on EU Caution
Jun 28, 2012 By Matt Day
--Comex August gold recently down $25.20, or 1.6%, at $1,553.20 a troy ounce
--Silver hits 2012 low, recently down 2.1% at $26.38 a troy ounce
--View that new central bank liquidity measures aren't imminent continues to weigh on metals
NEW YORK--Gold and silver extended their earlier losses Thursday, as traders bet that a closely watched meeting of European leaders this week wouldn't result in new liquidity measures that could increase demand for an inflation hedge.
The most actively traded gold contract, for August delivery, was recently down $25.20, or 1.6%, at $1,553.20 a troy ounce on the Comex division of the New York Mercantile Exchange. Futures fell as low as $1,550.80 a troy ounce, the lowest intraday price since June 1.
Silver also slumped, touching the lowest point since Dec. 29, before paring those losses. August-delivery futures recently traded down 2.1% at $26.38 a troy ounce.
Gold and silver were pressured Thursday by the view that though global economic growth has slowed and Europe's banking crisis remains a threat to the financial system, leaders in Europe and the U.S. are unlikely to imminently implement new crisis-fighting measures. Precious metals can gain when central banks or governments act to increase the flow of cash in the financial system, as investors seek a hedge from the inflation that can result.
"It's been the central bank liquidity measures that have been one of the major legs of support for the gold market," said Dave Meger, director of metals trading with Vision Financial Markets. "As you undermine one of those legs, it gets a bit wobbly."
Much of gold's moves this year have come in response to expectations on monetary policy. Futures have tended to rise when investors were betting that world central banks would take new steps to support growth, and retreated when it seemed bankers would stand pat.
Many market participants aren't expecting dramatic action to result from the two-day summit of European Union leaders scheduled to begin Thursday.
Economists at Barclays "expect the discussions to draw a roadmap for fiscal, financial and political union, but do not anticipate any major decisions on concrete short-term measures to reduce market stress beyond what has already been agreed," Barclays analyst Suki Cooper said in a note.
Gold has struggled at times this year when euro crisis worries escalated. The potential for a financial freeze in the currency union has made some investors more comfortable holding cash instead of precious metals futures, and economic fears have sparked investment into the perceived safe haven of the U.S. dollar.
A rising dollar can dent demand for gold by limiting investor appetite for a hedge against declines in the currency. The dollar rose again against the euro Thursday, hitting its highest point since June 8.
Write to Matt Day at firstname.lastname@example.org
(END) Dow Jones Newswires
Copyright (c) 2012 Dow Jones & Company, Inc.
Why Are We Certain that Gold Producers Will Soar?
Posted Wednesday, 27 June 2012 | Source: GoldSeek.com
By Jeff Clark, Casey Research
For the past eighteen months, gold stocks have been pummeled.
They showed some life from mid-May to mid-June – GDX, the gold miner's index, was up 21%, while gold rose 5.5%. That bounce was exciting, but they've still got a lot of lost ground to make up. Since January 1, 2011, GDX is down 28%, while gold is up 10%.
So what's going to move these darn stocks? Will their day ever come? Could our research – gulp – be wrong? Jokes have even started circulating…
What's the difference between a seagull and a gold stock investor? The seagull can still make a deposit on a Mercedes.
Gold equities may be bad, but I slept like a baby last night. I woke up every hour and cried.
Laugh or cry, underneath this heap of stock-certificate debris is the contrarian opportunity of a lifetime.
That's a strong statement, I know, but there are numerous well-researched reasons why I'm convinced gold stocks are one spark away from igniting the portfolios of those with the cash to buy, courage to act, and patience to hold. And it's not just because they're undervalued, something that's been the case for at least eight months.
Let's review the core reasons why gold stocks are the place to invest right now, and why I'm convinced much higher prices will be had before this bull market is over…
Reason #1: Gold stocks have leverage to gold bullion prices. In spite of what's occurred recently, history is on our side here, as the track record of precious metals equities demonstrates they can reward patient investors tremendously. They rose:
950% from January 2001 to January 2008.
700+% from 1970 to January 1980, including 289.5% in the last thirteen months of that period.
211% in less than 24 months in the mid 1990s.
Even during the Great Depression, the two largest producers at the time – Homestake Mining and Dome Mines – rose 474% and 558% respectively.
It's normal for gold stocks to demonstrate this kind of leverage to gold. It would completely contradict the historical pattern – and common sense – for gold stocks remain where they are until this bull market ends.
(And sometimes, even when the price of gold bullion falls, gold stocks can still offer big upside. Case in point: in the 24 months from January 1, 1981 to January 1, 1983, while the price of gold bullion fell by 25% – from $597 to $446 – gold stocks rose 72%. A series of giant gold discoveries in Canada set off a mini-mania in the equities.)
Check out the historical record, which includes some mind-boggling performances by juniors.
Reason #2: Gold stocks are grossly undervalued. Gold stocks aren't just inexpensive, they're stupid cheap. Their current undervaluation is more than just compelling… it's fire-sale attractive. It should have your full attention.
Just look at the data and you'll see what I mean:
Relative to gold, the equities have not been this cheap since the waterfall selloff in 2008. The HUI/gold ratio is roughly 0.27, close to its bottom of 0.24 in October 2008. It hovered between 0.50 and 0.60 for most of a five-year period from 2003 to 2007, and exceeded 0.60 several times.
On average, and in spite of weak gold prices at present, industrywide margins are roughly $1,000 per ounce. The price of gold wasn't even $1,000 30 months ago.
As a group, gold stocks are selling for less than their net asset value… by 20%. They traded 60% above their NAV in 2007, a common level for precious metals equities.
Average P/E ratios of the 10 largest gold producers are less than half what they were just two years ago.
As we mentioned a few weeks ago, for a $1,000 investment right now, you can get about 0.6 ounces of gold. For the same $1,000, however, you'd get four ounces of gold by buying shares of Goldcorp or more than five ounces by buying Eldorado Gold.
This undervaluation cannot and will not last. Even the trader who knows nothing about Newmont or Barrick or Goldcorp will sooner or later want to jump on this – and if he doesn't, his boss will want to know why. Read what one Sprott fund manager thinks about gold stocks.
Reason #3: Gold stocks are universally under-owned. There are plenty of reports about how little gold and silver the average mainstream investor owns – which likely means they own even less of gold equities. But the disconnect is bigger than you realize…
In the institutional world, pension funds sit at the head of the table. However, the typical fund devotes only 3% to commodities, and of that 3%, only 5% is committed to gold and gold stocks. In other words, only 0.15% of assets are in gold and another 0.15% in gold mining stocks, a pathetic total of less than one-third of one percent. Ditto other institutional investors.
Given the gamut of sovereign risks in virtually the entire world, even the developed world, the lack of gold and gold stock ownership is appalling. That will change as the growing fiat currency risks around the world impact investors more deeply.
Reason #4: All that cash has gotta go somewhere. It's one thing to say gold stocks are under-owned, but is the money available to buy them? One could make an argument that any rush into gold equities would be muted if no one has any savings or if demographics dictate that a fifth of the developed world will soon be retired.
At the end of Q1, S&P 500 corporations had $1.7 trillion in cash and another $4 trillion in short-term investments. The M1 money supply is currently $2.2 trillion. Pension assets exceed $31 trillion, more than twice the size of last year's GDP in the US.
Contrast those figures with the market cap of all primary gold producers trading in North America: about $800 billion. Or the market cap of all primary silver producers: a measly $32 billion.
If corporations moved 5% of their "short-term investments" into gold stocks, the market cap of the industry would increase by 20%.
If they chose silver stocks, it'd grow by a factor of six.
Five percent of M1 would increase the market cap of gold producers by 14%; it would be 3.4 times bigger than the entire current value of all primary silver producers.
If pension funds doubled their allocation to gold stocks (making it a puny 0.6% of total assets), it would amount to $93 billion in new purchases. If they went to 5%, $1.5 trillion would flood the industry.
Check out the chart of these data. And by the way, don't forget other corporations in the US and around the world, insurance companies, hedge funds, sovereign wealth funds, mutual funds, private equity funds, private wealth funds, ETFs, and millions of global retail investors. There are, quite literally, tons of cash available for investment in whatever sector the mainstream targets.
What if they all enter the gold market at or near the same time?
Reason #5: Physical gold may become hard to get. The gap between supply and demand isn't letting up. Since 2001, worldwide production is flat, despite a sixfold increase in the gold price – and demand has grown from $3 billion to $80 billion.
I'm in touch with bullion dealers on a regular basis, and they're all saying the same things. Andy Schectman of Miles Franklin insisted that the bullion market "will ultimately be defined by complete lack of available supply." Border Gold's Michael Levy cautioned, "If an overwhelming loss of confidence in the US unfolds, the demand for physical gold and silver will far outweigh all known inventories." And Mike Maloney of GoldSilver.com warned that if shortages develop, "physical bullion coins and bars might become unobtainable regardless of price."
As increasing numbers of people view gold as a must-own asset, and as supply is not keeping up with demand, where is the next logical place for investors to turn to get exposure? Gold stocks.
Imagine the plight of the mainstream investor who calls a bullion dealer and is told they have no inventory and don't know when they'll get any. Picture those with wealth finally becoming convinced they must own precious metals and being informed they'll have to put their name on a waiting list. Imagine a pension fund or other institutional investor scrambling to get more metal for its fund and being advised the amount it wants is "currently unavailable."
Mining equities would be the fastest way to meet that demand. It'll be the next logical step to take – maybe the only sensible step available if the supply of physical metal remains constrained. It will feel like the most natural thing in the world for them to do. It is indeed the overlooked reason gold stocks will soar.
Reason #6: Gold has a lot further to climb. This is why I'm convinced gold stocks will soar again: a rising gold price. Many investors have focused on gold's lackluster movement for the past eight months, forgetting that it rose a total of 2,333% in the 1970s – with much less currency dilution than we have today. For gold to match the same percentage rise from its 2001 low, the price would hit $6,227 per ounce. Nothing says it has to match that price – but neither does it have to stop there. Given the ongoing caustic actions of politicians, we see much more upside risk in gold than downside.
And here's the key for gold stocks: once the gold price resumes its uptrend and begins making new records again, all sorts of investors – from large market-moving institutions to small retail buyers – will return to gold equities. I suggest beating them to it.
Reason #7: "The boat" has a leak. The dilution of our currency is on a nonstop – and scary – trajectory. Just since January 1, 2000, US dollars have lost a whopping 26% in purchasing power. The Canadian dollar has lost 23%. This is a serious and gross devaluation of what we use for money. Meanwhile, gold has gained 325% in purchasing power (after accounting for inflation as measured by the CPI, which understates the amount of inflation by a considerable amount). And this is while the gold price has gone nowhere since last September.
The problem is, the leak in our economy is only going to get bigger. The monetary base now exceeds $2.6 trillion, up 215% since January 2008; the national debt is over $15.7 trillion and will conservatively reach $20 trillion in just three years; the $1.3-trillion US budget deficit, which is more than the entire US budget was just 20 years ago; the approximate $4 trillion in US Treasuries held in foreign central banks, many of which continue making arrangements to bypass the dollar; the vulnerable and propped-up economies around the globe; the still-unresolved European debt crisis; the many negative real interest rates that show no sign of reversing course anytime soon.
These are massive megatrends that won't be reconciled without further, serious dilution of the currency – it's the only politically acceptable way to decrease the debt burden. This is why we're convinced more money-printing in the US and around the world is highly likely – whether they call it "quantitative easing" or try to hide it under some other guise – especially if we get another deflationary scare. With the only logical choice being to print, gold will be forced higher by an order of magnitude.
I say all this about gold because I think that is the key to gold stocks. If gold and silver are destined for higher levels, gold stocks will follow. I know they haven't demonstrated that for a while now, but slumps don't last forever.
The bottom line is this: Gold stocks do respond when gold goes higher – and gold is going higher because of completely unsustainable fiscal and monetary actions of governments all around the world.
So, will gold stocks really soar again someday? The historical record of gold stock manias… the extreme undervaluation of gold equities… the lack of mainstream participation in our market… the abundance of available cash… dwindling supply and rising demand… the massive disconnect between gold and gold stocks… the likely trajectory of the gold price… and last but not least, the political compulsion to dilute the currency further… all these factors point to an incredible opportunity to buy gold stocks at extremely low levels and someday realize potentially life-changing rewards.
Hang in there, my friends. Our time will come. In fact, I predict that someday we'll wonder why anyone doubted it in the first place.
Being a successful investor in this sector requires much more than simply buying some companies – one must sift through company data and filter the hype to uncover those with the best chance of producing outsized gains. That's exactly what Jeff Clark and his team do to bring the best gold majors to light each month in BIG GOLD. Right now, for a limited time, when you subscribe risk-free to BIG GOLD, you'll receive a bonus special report highlighting the most promising and least risky gold stocks to buy. Get the details now.
-- Posted Wednesday, 27 June 2012 | Digg This Article | Source: GoldSeek.com
Spot Gold 1573.90, Silver 27.11 Prices Bounce on ECB Rate Cut Hints
Jun 27, 2012 By Tatyana Shumsky
NEW YORK--Gold prices shot higher Wednesday on comments by a European Central Bank executive board member that hinted at potential interest rate cuts by the bank.
Gold for August delivery, the most actively traded contract, was recently up $1.50, or 0.1%, at $1576.40 a troy ounce on the Comex division of the New York Mercantile Exchange. The contract touched a high of $1584.60 on the ECB news.
Peter Praet, the chief economist and a leading member of the ECB's executive board, said that "there is no doctrine that the main interest rate can't be under 1%" in an excerpt of an interview with Germany's Financial Times Deutschland.
The central bank aims for consumer price inflation of just below 2% over the medium term. Recent inflation data from Germany released Wednesday showed inflation easing, potentially opening the door for the central bank to cut its main rate below the record low of 1%, at the upcoming meeting July 5.
Gold prices shot higher, climbing into positive territory on the remarks. Periods of low interest rates favor gold, which doesn't earn interest, over interest bearing assets like government bonds, whose return is diminished.
The comments caught gold traders by surprise, said Charles Nedoss, a senior market strategist with Olympus Futures.
"I don't think that people were looking for Europe to lower rates," Mr. Nedoss said, adding that moves to cut interest rates would be seen as inflationary and thus beneficial to gold prices.
Gold is widely considered a store of value and a hedge against inflation.
Write to Tatyana Shumsky at email@example.com
-Todd Buell contributed to this article.
(END) Dow Jones Newswires
Copyright (c) 2012 Dow Jones & Company, Inc.
Comex Gold 1603.30, Silver 28.35 Shrinks Back to $1,600 Ahead of FOMC
Jun 20, 2012 By Tatyana Shumsky
-- Comex August gold down 1.1% to $1,605.70/oz
-- Traders brace for upcoming Fed policy statement, Bernanke press conference
-- Investors worry gold will sink if no policy changes are announced
NEW YORK--Gold futures retreated to $1,600 on fears that the Federal Reserve will keep its policy unchanged and that Fed Chairman Ben Bernanke will avoid hints of more easing.
The most actively traded contract, for August delivery, was recently down $17.50, or 1.1%, at $1,605.70 per troy ounce on the Comex division of the New York Mercantile Exchange.
Investor attention is firmly focused on the Fed, as markets await the Federal Open Market Committee's monetary policy statement due out at 12:30 p.m. EDT, followed by revised economic forecasts and Mr. Bernanke's press conference.
Gold futures dropped back to the psychologically important $1,600 level as fears that the bank won't hint at any change in policy gripped markets.
"The market has already priced in a change," so if policy is left unchanged gold prices are set to fall amid disappointment, said George Gero, senior vice president with RBC Capital Markets Global Futures.
"Most people think there's going to be some kind of stimulus down the road, whether it's now or later," Mr. Gero added.
Analysts at Standard Bank forecast that the Fed will most likely extend Operation Twist, in which the central bank sells short-term bonds and uses the funds to buy long-term securities with the aim of lowering long-term interest rates and encouraging borrowing and investment.
"We could see a slight pull-back in gold and other precious metals," they said in a report, adding that "if the Fed should announce more aggressive monetary accommodation, the complex will no doubt rally."
Gold gained little support from the weaker dollar, which slipped against the euro. The euro was recently trading at $1.2700, up from $1.2662 earlier. Gold futures are traded in dollars and become less expensive for investors who use other currencies when the dollar eases.
Elsewhere, lower prices lured Chinese traders back to the physical gold bullion market overnight, though overall demand for physical gold remains "fragile," said analysts at Barclays in a note to clients.
Write to Tatyana Shumsky at firstname.lastname@example.org
(END) Dow Jones Newswires
Copyright (c) 2012 Dow Jones & Company, Inc.
I never thought we'd see these levels again, but as the dormancy drags on, it seems possible to snag SHSH back at around a nickel.
Spot Gold 1627.40, Silver 28.78, Up A Tad; Fed Meeting In Focus
Jun 19, 2012 By Francesca Freeman
--Spot gold treads water as investors await the start of the Federal Reserve's two-day rate-setting meeting
--Gold seen vulnerable to selling, should the Fed fail to stoke stimulus hopes
--Euro performance seen key gold driver in coming weeks
Spot gold is slightly higher in Europe Tuesday, but lacking momentum as investors tread cautiously ahead of the start of a much-anticipated meeting by the U.S. Federal Reserve later in the global day.
At 0910 GMT, spot gold was just 0.2% higher on the day at $1,630.15 a troy ounce.
Gold is currently in a "holding pattern" ahead of the Fed's two-day rate-setting meeting, said David Govett, head of precious metals at Marex Spectron. Market participants will be looking for any clues on whether the Fed will act to support the economy, given recent poor U.S. economic data.
"I think the market is positioned long ahead of the meeting and if tomorrow afternoon there is no mention of quantitative easing or such like, we will definitely see disappointed selling," said Mr. Govett. "Ahead of any announcements, the market will remain thin, nervous and jumpy," he added.
Gold is often sought as an alternative currency and hedge against inflation at times of loose monetary policy.
A firmer euro-dollar is also providing some support for gold Tuesday, according to analysts. Since gold is priced in dollars, it is more affordable to other currency-holders when the greenback softens.
The relative strength of the euro against the dollar is likely to remain a key driver of gold prices in the weeks ahead, said HSBC analyst James Steel.
Either a sharp boost in market confidence regarding the euro zone or increased expectations of U.S. quantitative easing is required to buoy the euro significantly, according to HSBC.
"A limited near-term upside to the euro would be likely to limit upside for gold, too, we believe," said Mr. Steel.
At 0909 GMT, the euro was trading at $1.26036, up 0.2% on the day. Euro resistance currently sits at around $1.2750, according to HSBC's currency strategists.
In other precious metals Tuesday, spot silver was 0.4% higher at $28.820/oz, spot platinum was up 0.6% at $1,484/oz and spot palladium was up 0.1% at $628.25/oz.
According to Commerzbank technical analyst Axel Rudolph, silver prices remain in danger of slipping further within the next couple of weeks.
While the metal may still retest the psychologically important $30/oz level, support at $27.21/oz and $26.74/oz should eventually give way, bringing the major support area at $26.36/oz-$26.02/oz back into play, he said.
"Failure here will lead to the 200-week moving average at $23.30/oz being eyed. We retain our medium-term bearish view while silver stays below $31.49/oz," Mr. Rudolph added.
Write to Francesca Freeman at email@example.com
(END) Dow Jones Newswires
Copyright (c) 2012 Dow Jones & Company, Inc.
Good post, Cork. The operatives behind this one are not minor miner players. (LOL) It's odd that this one seems dormant and you have to wonder what's going on behind the scenes.
I live about 4 hours east of Coeur d'Alene. Some day we should all get together and tour the silver valley. (Wallace is a cool town to visit).
They are pretty sketchy on a lot of fronts. I can put up with a little bit of that BS because that's why a guy can still buy shares at .08 in a company with three mills.
With a new management team in Smith, Crowley, and Ryan, one would think they could at least get photos to the website bios at some point in the last 8 months.
Crosby and Ryan are President and CEO respectively of Senetek PLC. I just hope this isn't some sort of back door acquisition.
That might be one reason they don't feel any sense of urgency or at least an obligation to the shareholders to update information.
We haven't had a PR since February.
Information has always been sparse at best out of Shoshone, and these new guys don't seem to be breaking with that pattern of neglect.
Anybody live within driving distance of Coeur d’Alene?
Maybe we should pay them a little visit!
Do you know the true share structure? Was around $50 million and the 10k said + about $50 million exactly like that. Totally incomprehensible. The next 10Q ought to be interesting.
I sent an email to the Investor Relations guy last week, with no reply.
The phone number for the IR guy isn't current.
That's the same contact number as for the company.
I tried another number and got barely functional answering machine:
I encourage everybody to call and leave a message.
Perhaps we can create some "investor awareness."
Thanks buddy, have always appreciated your posts. I will look into this company more deeply.
The projections are in the press releases associated with the acquisitions.
Noteworthy is the JV with a gold producer and a silver mine near an existing mine the company owns. Additionally the reopening of the Rescue Mine to gold production. All of this as we write this in 2012.
Other than that, the company plays it close to the vest as far a release of any interim production data.
I doubt that we will learn much until the next 10Q that should be in July or August.
Very little is known about the potential from the Rescue Mine. The silver mine resource is well defined as well as the gold mine JV.
The most important fact is who is now running the company. A big departure from the laize a fair management of the past. These guys built US Silver from nothing to a $1.00 per share company a few years ago.
I think this is worthy of your studied DD. I hope to buy more at what I perceive these very low prices. With the favorable share structure any reasonable production should move this one pretty fast.
Hey what's up everyone, I stumbled upon this one, so why the low PPS and quiet board. They have quite a few properties, do they have any projections, drillings, results from their properties...
When is SHSH expecting something to tell its shareholders...
Thanks in advance
There is no telling what this company is doing except for the filings. It seems that it has always been a stock held close to the vest so to speak.
I don't think management is going to release any news until there is something in it for them.
We know there are three projects underway and probably two of them producing at this time but they are not screaming about it from the rooftops. Probably won't until they can take a lot of pictures and get them on the website.
Because of the current share structure, even the most modest revenue production can easily move this one into the $ range and probably multiple dollar range. If this is true then .07 is a great price. Because of the low volume it is most likely the market makers are buying up anything that comes on the market.
SHSH somebody capitulated
this has been the worst year in the history of penny precious metals stocks.. there's just no telling if your stock is going to stop going down before it gets to 0.01
these haven't stopped going down yet: NJMC USPR SURE NBRI IROG PIED GNMT GPXM SIRG and many have gone to the 0.01
gold normally does poorly in june and july, so perhaps in august look for which ones gain on volume
I believe you are right about the potential.
Realistically, resistance has broken down for some reason. Maybe it's just leathery. I can see no real reason why the pps should be where it is. Nothing supports this level for an exploration stage company that does not promote it's good stuff to the the shareholders.
Leads me to believe that the MM's will take control, short it and take it down, way down and when something good is reported they will take it up. Way up. They have already tested the bottom a number of times and can't find support so why not, that's how they make money.
It's ok with me. It will let me buy lots of cheapies that I know will be worth $3.00 per share in 12 months.
ask under a dime. ready to load up ? :)
PUMA with .101 on the bid. Gotta wonder why the extra .001!
Very low volume continues. It may never break that dime.
Sounds like a rubber LoL!
I have allocated my investment in SHSH at 50,000 shares. Sometimes I get near it and sometimes I sell out and play the swing. If I can make more money somewhere else before this moves on a run to $3.00 I will always do that. Once the wrapping is off the package this one runs.