Silver usage for electrical industries to drive demand
Effective 7/1, the European unions RoHS directive goes into effect, which mandates elimination of certain hazardous materials used for electrical/electronic industries. Silver is the substitute metal to be used.
Also, I agree with other posts that the shorters are artifically driving down silver prices short term. Cannot hold this pattern with such global demand up for this metal, especially when it is used in applications such as electronics.
Plus, IMHO the price of this stock dropped so because the small position traders with 5-50000 shares cannot withstand waiting to hear the next great news on the 3 remaining silver veins and their potential reserve and production capability. Ive seen even the smallest sell of 5000 shares drop the price. No other new blood with substantial volume had come in yet to replace this. I believe this is about to change.
My understanding is that FMNJ is to be out shortly with additional news on the 3 remaining veins and their serious reserves (as with the 1st vein of over 150K oz estimated silver reserves). Also, full finalization of the JV's on both the silver mines and with YPFB on the refinery.
FMNJ recently hired Behre-Dolbear to complete review of the mineral reports and hired Pricewaterhouse-Coopers for audit and assurance services. This is real progress!
And the reason FMNJ has not got onto the OTCBB yet is it just recently completed its financials to submit and even after that it takes a while to get approval to be on the OTCBB. But FMNJ is proceeding with this process.
As always, this is my opinion only so please do your own due diligence
Best Regards
