JULY 11 2007 1:00PM - The latest paper by Prof. Fekete is now available. I'll provide my comments later.
I also wanted to point out the eye-popping drill results that MAG Silver has just released, which are some of the best that I have ever seen. Here it is in a nutshell:
"Hole GD has returned a core length of 21.1 metres (16.2 metres true width) grading 1,175 grams per tonne (g/t) silver (34.3 ounces per ton (opt)), 3.66 g/t gold and 13.56% lead/zinc."
The stock is already on a tear based on news that it will soon trade on the AMEX and I must say this is one company I should have focused on more (and had more of it in my portfolio). Around US$500 million market cap, the stock is not quite the bargain it was last year but it could very well see another 50% rise from current levels before the year is out. I hate buying on such monstrous strength, however, so I would look for a pullback before indulging.
Next up is Endeavour Silver, which seems to have regained its footing on the operational front. In fact, today's announcement that silver equivalent production for 2007 should exceed 3 million ounces may represent the confirmation of a turnaround. The market has yet to react with any degree of fervor but the stock is arguably due for an upward revision and it would be reasonable to expect a 50% or bigger move to the upside before year-end. In terms of Don Hansen's analysis from last November, operations are still somewhat behind expectations but barring any major disappointments, there may be quite a bit of momentum in the positive direction.
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