I was buying more this a.m. down just below the 50dma in low $21s.
It is a ridiculously tantalizing idea that AUMN may be sitting on well over 100M oz. (60M oz. already proven) of really high-grade silver at El Quevar (including the sub-parallel zone at ManiSub and probably a better resource at Carmen than indicated by less-than-stellar initial drilling results)....
And this doesn't even include the properties in Mexico and Peru!
We're looking at more dilution down the road to get more properties developed (or a JV on one or more properties) but the sharecount is so small it won't make much difference to the whopping EPS in a few to several years to come for AUMN...
Naturally, there are risks on some of their properties, but the rewards clearly seem worth it....
I was looking to add to my position today, but since we broke the 50MA support, I'm going to wait out the chart until it strengthens. I bought near the high last week when it look poised to break to the upper 20s, but that didn't happen. Now I'll accumulate more conservatively.
This is a great long-term prospect though, so I'm not in any rush.
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