Trader Rog’s Miner of the Week
In his weekly newsletter, Trader Tracks, Roger highlight a company each week as his “Miner of the Week.”. Here is his choce for this week:
Please remember that Big Al is a shareholder of Silvercrest Mines and that Roger’s report is not to be taken as investment advice.
Silvercrest Mines, Inc. Has Dramatic Production Increase.
Silver prices have settled with support at $31 and resistance at $32.18 on 11-6-12. The recent futures trading range
between $30 and $35 gives us a broader perspective. With silver’s companion gold in a new breakout for the 4th
quarter of 2012, we can see silver rising to $38.48 after $35 is broken. Our 2005 longer range price forecast for silver
is $156 with gold’s price rising to $2,960.
Recent technical calculations have confirmed those numbers, that we discovered, in an intense analysis we produced over several
days.
Other top analysts have confirmed our forecasts as well with some projecting much higher prices.
We suggest new and faster inflation will arrive with higher interest rates in 2013.
This bodes well for silver producers like Silvercrest Mines, Inc.
“SilverCrest Mines Inc. (TSX VENTURE:SVL) (NYSE MKT:SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC.
SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, which is located 150km northeast of Hermosillo,
near Banamichi in the State of Sonora, Mexico.
The mine is a high-grade, epithermal gold and silver deposit, with an estimated life of mine cash cost of US$8 per ounce of silver
equivalent (55:1 Ag:Au).
SilverCrest anticipates that the 2,500 tons per day facility should recover approximately 4,805,000 ounces of silver and 179,000
ounces of gold over 6.5 year life of open pit phase of the Santa Elena Mine.” –Company website
Silvercrest Mines, Inc. has all the tools for growth and success.
PEOPLE: Management team has accumulated a century’s worth of international mining success
PRODUCTION: Santa Elena Mine (Mexico) high-grade gold & silver, open-pit heap leach mine
Financial: Strong balance sheet with growing free cash flow
Planning: Expansion Plan to double Gold & Silver production
Project: La Joya
Silvercrest shares were US$2.69 per share on 11-6-12 noon on 11-4-12.
Daily cash physical silver chart on 11-6-12 1:45 PM PST.
SilverCrest Mines, Inc. (NYSE) Technicals signal a breakout set-up.
Daily chart has a bullish RSI Cup and Handle pattern fully formed. Price is resisting
just under the 50-day moving average but will breakout, up and through when silver
futures can hold above $33.48. In the bottom box moving averages crossed over to the buy side. The blue vertical histogram bars are now positive above the zero line.
On Wednesday, 11-7-12, silver futures are mildly down as the US Dollar and long bonds are in the green. This will change as the US Dollar has a massive bear head and shoulders top fully formed and in place. Give your trading some time and this should work out nicely.
Trader Tracks technical price objective is US$3.00 or better in the first quarter of 2013. As the price of
silver rises, we suggest these shares should breakout, up and through the US$3.00 resistance.
Our next higher objective after the $3.00+ breakout is US$3.75 per share.
570 GRANVILLE STREET, SUITE 501, VANCOUVER, B.C. V6C 3P1
Telephone: 604-694-1730 TOLL FREE: 1-866-691-1730 TELEFAX: 604-
REQUEST INFORMATION: INVESTOR RELATIONS: Fred Cooper 604-694-1730 X 108
INFO@SILVERCRESTMINES.COM
Marc…I love it when people say ..NOT INVESTMENT ADVICE….When really they want to shout like me …..LOOK YOU MORONS BUY SILVER IT’S A NO BRAINIER….& YES THIS IS INVESTMENT ADVICE…… substitute the word silver for your own word…….as i’m not a registered investment adviser , & i dont live in the US can the regulators still prosecute me ?………….if they can then “SORRY SIR’S” i promise i wont do it again . ………………………………………………………………………………………………………NOT.
I have heard talk re: both of them.
Big Al
Irish,
Exactly…but, can you lead a HORSE (Moron) to water and make him drink!? N..O..P..E! Haha 🙂
marc, to be honust (as i am easily confused) i am not sure if you like ssl or svl better.
Personaly I picked up some sandstrom today. what can i say? i like gold.
now you can be carefull, i usually buy things at highs. lol
MARC…..This is one moron you can lead to water & yes you can make me drink……but only if the said water has been use’d to make GUINNESS…….Sure its time for a song , WHEN IRISH EYE’S ARE SMIL…………………………………………………………………………………………..
You silly boy , benb…..you’r supposed to buy low ..haha
Benb,
Go to hear from you as always. I will be adding to my (humble) positions in both sooner rather than later! The way things look now..you cant lose with either…but, I like diversity in this game. As a point or reference: A while back I sold some Silver Wheaton (people will say I am crazy) and diversified into:
1.Alexco
2.Endeavor
3.Fortuna
The news on 2 and 3 has been good and getting better. Alexco is also a top notch company that Jay Taylor has recently targeted as an A1 investment. So….I spread my stuff around a little to try to play different “angles”. Silver Wheaton is my largest holding – I have tip-toed into the Miners about two years ago. But, has you might now know, I am a BIG, BIG fan of physical gold AND my favorite…yes, MR. IRISH…SILVERRRRRR. Irish – you crack me up…
1.Alexco.
Can somebody comment on their financials and the industry noting their silver deal with SLW that is really hurting their bottom line?
2.Fortuna.
Would not and never will invest in them after the Continuum deal and recently ,their troubles in Mexico with the locals.Consider karma.
3.Endeavour.Great company but fully valued.
There is this notion that if a mine can produce more silver per ton, it will be able to generate more profits. Unfortunately, for Alexco Resources this is not case.
Alexco Resources’ Bellekeno project is Canada’s only primary silver mine producing silver at over 800 g/t (24 oz/t), which is twice the ore grade of the top two silver mines in the world.
However, Alexco recorded a NET INCOME LOSS of $2.6 million in the second quarter of 2012.
http://www.silverdoctors.com/high-grade-silver-mine-produces-a-staggering-24-ozt-records-net-income-loss/
Matt,
Don’t know about the karma angle…will have to look into that. Endeavour – my research indicates otherwise. Alexco I invested in along time ago base on a recommendation from some reliable sources. You could very right…time will tell. I will tell you that MAG was probably the smarter choice along with First Majestic…but, live and learn…and the game isnt over.
Hi, marc, since your listing some stuff you like, i figured i would mention timmins.
i have been waiting for this to be bought out since maybe $1.
i do believe i have been in and out of edr and fvi.
I dont blame you for holding slw, imo it should be a “no brainer” holding, if you figure PMs are going up. ssl might be a “no brainer” too.
Physical is my biggest holding, i know about leverage but i just dont like the chance of the entire market and or banking system collapsing. as well as the market being entirly corrupt. What can i say? I dont trust either.
Benb,
I am right there with you..my thoughts too. Yes, I own Timmons Gold and I will add to it when I can.
BTW,
My holdings in individual miners is modest in relationship to my entire PM holdings…however, I do hold a little more in GDX, GDXJ and SIL. I have never indicated I am a brain with respect to individual ones. I have accumulated quite a MASTER list of companies to consider, but have only pulled the trigger on a few.
Sorry…Timmins..:)
JERRY , me old partner, in mirth & joviality, come & join your little irish pal in a drick..HICK
Jerry is gone back to ALcatraz, those Moosehead beers and movies and meals that they serve in The Korelin posting jail are just to good to want to leave. Cmon man embrace the socialist lifestyle. DT
I think Jerry would be a shoe in for the remake of “The Trailer Park Boys”!!! DT (HA HA)
DT…….i like your sense of humour…..HI DIDDLY DE A SOCIALIST LIFESTYLE IS NOT FOR ME . I have never seen the trailer park boys…but i gather it must be funny…In the mean time you take care, & dont let the b£$%£$dS get to you.
They tried to get Jerry out of Al’s lock-up but the warden and guards are hav
ing the best time ever! DT!
TR,
Silvercrest HAS NOT disappointed…even in this dull/bear cycle we are in..that’s for sure…..I think IMHO….the company to look at, although not a direct competititor, of course, IS SANDSTORM GOLD LTD…if I was FORCED to pick one “miner” (for accuracy sake it is a streaming company) it think that is the one..It is a ROYAL GOLD waiting to happen can you say..ultimately at 8 bagger or higher…again IMHO..not investment advice 🙂