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