Silvercrest Mines Inc (SVL)

[investor15]

Greg McCoach Says Keep the Best and Dump the Rest

TICKERS: CZN; CZICF, CXO, EXN; EXLLF, REX, SVL; SVLC, TK; TLD; TKRFF

Source: Kevin Michael Grace of
The Gold Report (10/9/13)

Section of article:


GM: SilverCrest Mines Inc. (SVL:TSX.V; SVLC:NYSE.MKT) is probably the top company I'd like to talk about. It has more than $40 million ($40M) in cash and growing. The company is making money whether gold or silver prices go up or down because it is mining higher grade rather than lower grade ounces. SilverCrest keeps finding more ounces as the Santa Elena mine grows, and it has made another discovery that is moving along quite nicely in another area of Mexico.

The market is so bad currently that SilverCrest is not performing as it should. It's holding its own, but is at a great discount to where it will be. This is a great situation to play because at current prices I see at least a four or five multiple when the market fully recovers.

TGR: SilverCrest was down to about $1.50/share in August, and then the price soared to over $2.20/share. But now it is back down to $1.73/share.

GM: And it could go lower. I would say that even the best companies will move lower. Tax-loss selling is going to come up. People need to clean out their portfolios. Everybody's situation is different. I've never experienced losses like this before, and I've been doing this for a long time. But once it's cleaned out, it will have to recover. If the world wants to have iPhones, computers and high-tech cars, it takes base metals, precious metals and rare earths to build these things.

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http://www.theaureport.com/pub/na/15653