this dog must've scared everyone away.
even today, with silver up $.47 at this writing and the dow way up - svm quickly grew hillary clinton legs slogging through swamp water. heavy.
don't know what it will take to unleash the shorts and get long investors back in here. and the court action is moving slowwwwwly. maybe too slowly to instill much confidence.
Not worried. We will be right in the end.
Loaned Shares Hat Tip! 1 From my understanding, if your position is in a qualified plan (401k, IRA) your broker can't borrow those shares. Outside a qualified plan, your broker can borrow against those shares. That is only hearsay from a friend, so I would call your broker and confirm and tell them what you desire to do. Please report back what you find out so I can be sure as well.
What I do in both cases, is to put in a limit sale 40% higher than current stock price and keep that in place so they can't do that. And if it executes, good for me, I take the gain and look for another opportunity to buy a bargain.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2012) - Silvercorp Metals Inc. ("Silvercorp") (SVM.TO - News)(SVM -News) announced that it expects to release its audited annual financial results for the fiscal year ending March 31, 2012 after the close of the market on Thursday, May 17, 2012.
"VANCOUVER - Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM), a Vancouver miner which operates primarily in China, says its fiscal fourth-quarter profits fell 19 per cent as it booked $1.5 million in audit and legal fees in an attempt to fend off allegations of fraud.
The company, which has been fighting fraud allegations for much of the last year, said net income attributable to shareholders fell to $9.7 million, or six cents per share. That was down from $12 million, or seven cents per share, in the year-earlier quarter."
It is a little strange to have miners go up when silver goes down... Any body else have thoughts?
SVM Fiscal Year 2014 At A Glance Production is forecast to increase 64.4%. Production is increasing from 5.9 million oz (FY 2013) (March 31, 2012 to March 31, 2013) to 9.7 million ozs for FY 2014 ( March 31, 2013 to March 31, 2014) Operating cashflow is forecast to increase 55% or $88MM Operating Cashflow FY2013: $160MM
Operating Cashflow FY2014: $248MM Capital Expenditures are forecast to drop -54% or $41MM Capital Expenditures FY2013: $90MM
Operating Cashflow FY2014: $49MM Also, analyst estimates are for a increase of earnings of over 100% from FY2013 to FY2014 Keep in mind SVM's fiscal 2014 starts March 31'st 2013. EPS FY2013: .26 (Est)
EPS FY2014: .55 (Range of .52-.61 EPS) In summary Silvercorp is setting up for some spectacular growth starting March 31st 2013
Wednesday, 13 Feb 2013 05:05pm EST
Silvercorp Metals Inc announced that for fiscal 2014, the Company expects to increase ore production to 1.5 million tonnes, and will produce 6.7 million ounces of silver, 20,800 ounces of gold, 104.7 million pounds of lead and zinc, 300,000 pounds of tin and 20.5 million pounds of sulphur.
Not much has been said about SVM here lately. Although it is hitting a 52 week low and a multi-year low, I still like this stock and the quarterly dividend which figures over 2.5% at todays price.
The guidance released for 2014 looks lower than what was projected in battle beagle's november post so I thought I would update. It still looks to be about a 15%? increase in silver production, but nothing effects this stock as much as the price of silver itself.
It really seems like a bargain to me at $3.92 so I doubled my position today. I think I'll have a chance to sell half of todays purchase within 7 months when it goes above $5 and let the rest ride long term. I see SVM reaching 5 again when silver gets back above 33.
WARNING: I usually catch falling knives. (but I've been very patient on this one)
News release from their website. This PR is more than a month old, but I wanted to mention it. From Feb 1,2013 to Jan 31,2014 they will buy back and cancel approximately 5% of their issuance. With the shares price depressed it will be an excellent time for the buyback.
Also was this press release on Feb 20 about a massive 33 meter interception of 151g/ton silver ore at their GC project.
Unfortunately I caught the knife two weeks ago (again) but as Rick Rule just said, after you buy a stock and it goes lower you must ask yourself if the same reasons for buying it still exist. If no you need to sell it and cut your losses, but if yes - you must buy more. I will wait until annual earnings are released soon before I go further in. At this price it is really hard not to use up all remaining dry powder but I keep hearing the voice of Jeremy Granthom saying "cash gives you optionality."
P.S. This is my favorite miner at a great price. ($3.40)
I agree with you Hayman.
Watching all the miners fall in the past 2 years has made me super cautious as to what constitutes a bottom zone for bargains to buy. Looking at SVM's chart, from last year it looked like 5 would be a solid bottom, as it blipped just below, to 4.89 or thereabouts. and held 5 for a long time.
Short and distort manipulation has made 5 break down this year, and now 4 broke down.
Now the chart is looking like 3 becomes the bargain bottom, and my charting has a target zone of 3 to 3.30 . It hit that zone 3 weeks ago, rallied to the current resistance zone now , where it meets the 50 MA at 4.10 and I see the top of the zone at 4.50
Between 4.10 - 4.50 I expect failure , signs of the typical algorithmic capping in the last 3 trading days at the 4.10 area shows the same old story . The wave structure in the latest upwave looks to me like a subwave 3 has completed,and subwave 4 is ongoing, which suggests another subwave (5) would make a higher pop to target between 4.15 -4.50 as a completed wave structure. From that resistance point, I expect to see the next short attack and selling pressure, to retest the whole price rance from 4 to 3 dollars. My own target zone to buy is 3.30-3.00 and 3.10 as a stink bid. Looking at the whole downwave that started in last October/november around 6.20 area, where the 200 MA and 50 MA conjoined , the price was around 6.20, and a 50% haircut from there is 3.10
That's my next target to buy more SVM.
and then, to sell the excess around 6 dollars. I never expected to see SVM at 3 dollars without a market meltdown . This is whats been done to the mining sector. an isolated sector melt down. I never knew there could be such a thing.