Trader Tracks coverage on Santacruz Silver
A few weeks ago Roger put out a report on Santacruz Silver. He went in depth and has some interesting comments regarding how the company is positioned in the silver space.
all-in sustaining cash costs of $23.68 per silver equivalent ounce
Dec.02,2014
Kitco NR
Congrats Guys!
As promised Glen mentioned precisely today we would attack 200+on Hui 🙂
Price appears having been capped everyday. Movement has been muted. The pattern repeats every day. However as long as it moves in same direction, the trend is good
Agree about your comment regarding “same direction”
Dollar will break 93 shortly and attack that Gap someone spoke about.
It seems that the cash cost is down a bit. Does 17$/oz cash cost or all in? Low oil price will help too
I guess people are excited by the price move and don’t have time for SantaCruz
Maybe, but I think that is short-sighted!
I’d like to see silver close above 17.36 —today!
Matt,
I’d like to see gold close above 1350 🙂
I think the current intermediate term rally will see gold touch that level.
+1 Here we go again lol
I personally agree with you Matthew.
DITTO ON $17.36……
$17.70 holding strong…………………..
17.75 close………..there you have it
Yesterday took a good look at gold when doc said we might correct 10-15 points today but here we are and first point of attack is 1275 and I believe we stretch to about 1285-1288 before resting. Let’s see.
Glen
Resistance is currently about 1297.
http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=1&mn=9&dy=0&id=p00263884150&a=361926967&listNum=1
I agree!
I believe 1288-1297 possibly by Tuesday the that correction I mentioned before ecb?
I should have said NEXT resistance since gold is still dealing with a resistance zone from 1268 to about 1278 (today’s high so far).
Seems like a good place to park and then attack again on Monday/Tuesday that 1288/1299
The miners are just getting started from a weekly chart perspective.
http://stockcharts.com/h-sc/ui?s=$SPTGD&p=W&yr=5&mn=3&dy=0&id=p83343429129&a=374056948&listNum=1
Gold now $1532.83 Canadian, on the heels of targets announcement Sony is immediately closing 14 stores, the snowball is alive and well in the great white north.
Thanks for update Tracy 🙂
Gold 1533 and silver 21.08 in cnd$. Gold price is very close to the price before the crush of April 2013. Silver still have 5$ to go.
No surprise. Canadians sit at the border for HOURS to go shopping in the US, here in BC/WA. It has not really abated much with the Loonie dropping from 1.05 to 0.85 exchange rate.
Everywhere you look all you see is endless retail, and expensive condominiums by the tens of thousands but nowhere do you see industry, we haven’t seen our real estate collapse here yet but the snowball is building in Alberta. The Rocky Mountains will be a great building base for the coming real estate snowball.
DT, Alberta is building a refinery. It is the first one in 33 years in North America. Alberta is most pro-business province in Canada and it suports two conservative parties, while a lot of other provinces favor socialism. Alberta economy will revive in the long run even oil does not come back. I remember Alberta was called miracle when oil was in the teens in 1990s. But I agree housing price is too high. However, where is the 18% money supply growth going in Canada. Think about it. Even we don’t have a 40% growth like US, but 18% growth is enough to erode purchasing power in a midium term. Where do we put our money when everything is not doing well, including stocks, oil, commodities, bonds. At least house is something real.
Alberta is a dynamo that has many eggs in its basket. My apologies for a corny mixed metaphor.
No problem DT. I do feel that Alberta is mis-understood in the central and east canada. People think it is a red neck province. I am not native Albertan so I am not offended at all when people make fun of Alberta. I actually have laughs. Due to my special background of being lived under communism, I like capitalism in its pure form (not the current wall street type). So I choose to live here despite its harsh weather.
Matt,
How do you like 206-207 target for hui on todays run?
I like your precise targets that why I refer to you.. I was more of a rounding off type of guy in school 🙂
Matthew
Alexco (AXU) has been VERY disappointing as an investment in a silver miner so far in 2015 (I restrict myself to pure Canadian companies for investing, by the way). I think there are fundamental problems with AXU that keep buyers away, rather than a chart/technical pattern. I really think AXU is a high probability candidate for M&A in 2015 for $1/shqre, unless they announce the beginning of production this summer. Do you have any insights?
Brian
I think it is being held back by mostly by the silver price. Once we get the bottom confirmed, I think it will go back to providing its usual leverage.
Remember that things always look the worst at the major lows and best at the major highs AND that markets are forward looking. So, despite investor jitters about all sorts of things (share offerings, SLW deal, etc.) I think we should focus on AXU’s current valuation based on what you expect from silver itself. If you don’t expect silver to do much anytime soon, then you might sell strength until you’re out. I DO expect a good enough showing from silver this year to continue to buy weakness or at least hold. As far as speculations in this space go, I do not consider it to be all that risky.
Notice that silver is up more than 3 times as much as gold today, at the moment, and that silver will confirm gold if it closes anywhere near the current price. Nothing can rescue AXU from investor fears like silver putting in some convincing moves in which it outperforms gold.
Next week could be very good for AXU and its peers.
Brian, I agree with this guy:
http://www.321gold.com/editorials/hamilton/hamilton011615.html
a quote on line..
Gold is now 1% up on the 12 month chart
Silver is 16.5% down.
If the table tilts to deflation, that gap will not narrow. unquote
Yeah. My SBT.UN has also jumped today. My first profit taking target is only 30 cents away. Canadian $ off course.
What an impressive run by silver today!
Silver has a long way to recover. If anyone who has everaged down, he can see a lot of profit even before it returns to its old high. I am sure silver is going into 3 digits (excluding decimal). It has a lof of usages not impacted by its price rise.
Matt
Gdx broke the 21.80 i believe you said. What is target now?
$24.18 is the double bottom target. We could very well go straight to it before pulling back to let anyone climb-on the gravy train.
http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=0&dy=0&id=p04528827942&a=384422366&listNum=1
That’s a big move..
It is, but the setup is perfect. The shorts AND wannabe longs are feeling the heat.
Matt,
1285/1288 🙂 next?
This made me laugh out loud this morning.
One of my stocks, Victoria Gold, has only traded 14 shares today. With a share price of 0.1146, the total value of traded shares today is $1.60. This is one of those investments that can go nowhere but up from here !
Hello Brian,
One thing to keep in mind:
assuming the company is solvent and can fulfil listings requirements… maybe the company does (has to do ?) a reverse split… and then the stock may go lower again…
Best to you, and GL investing/trading.
LPG
Today should put this ratio firmly below its’ 50MA. (;-)
I have been doing some reading on the history of the gold:silver ratio. Apparently, the first ratio was 13:1. With gold representing the SUN (or one year phase) and silver representing the MOON (or 13 moon phases per year). Modern monetary history was a 14 or 15:1 ratio (e.g., Adam Smith)
I never heard of that before. I know that the ratio of silver to gold in the ground is approximately 16 – 1. It is the monetary aspect of these PMs that skews the simplistic ratio.
The mention of ratios………one might look at the available stock pile of silver , which is reported to be LESS than gold. Silver is USED UP or consumed……which makes these ratios questionable………..
Additionally , some have suggested that since the available stockpile of silver is less, the value is considerable understate……and suggest a ration of 10 to 1 is more appropriate.
oops ……understated…..
The ratio of ~15:1 is the monetary ratio. Since money demand is infinity, the only factor is the cost of producing the money, which is also the content of the metal in the ground using the old mining technology. However, the silver tends to concentrate on the surface and gold is more uniformly distributed, the ratio is 9:1 as I heard of, partially due to the fact the easy mines are depleted and modern technology allows deeper exploration. Since silver has lost most of its monetary nature and gold still has most of it, the ratio has been large in last 100 years. This is due to many factors such as central banks dumping all the silver to the market, silver market is easier to manipulated, etc. When the monetary nature returns, the ratio will get a lot lower. But it may be in the long term. In the near term, I am counting on the depletion of the silver inventory and wide use of silver to boost silver price. Once we suddenly find that all the available silver is actually paper, the market will panic.
GOLD LOOKING GOOD………………………………….
where are the SHORTS…………………..
LONDON FIX 1277…………did the manipulators give up till Monday………..
Glen, with silver getting as high as 17.83 today, it made it into my guesstimate zone for 1275 gold…
On January 12, 2015 at 11:25 am,
Matthew says:
Glen, at 1350, I think silver will be about 19.50 or so. At 1275 I think probably more like 18 (no less than 17.75 and no more than 18.25).
+1
So you think the cap is here for gold at 1277/1280 for rest of day?
I think we got a shot at 1285/1288
I think there’s a 56% chance that we’ll see your target reached by the bell. 😉
That’s why I love you buddy 🙂
Not in that way :)lol
😐 lol
Matt:
I agree with the setups and target. $24.18 might even be a bit low. This move is solid.
I agree, but I bet we’ll at least get a short-lived reaction at that target.
Love reading the ecitement guys..I can FEEL the emotion is your emails…very very refreshing!
Marc,
Thanks..
For myself there is nothing more gratifying then reaping the rewards of hard work and around the clock. Im literally at times running on 4 hours sleep and bet the rest of the boys are not to far behind. That is what you do to succeed and for us all to gather information as to the truth of what the economical situation is and where it’s headed. Not the phony numbers the fed gives us.
For myself everything I share in here is from the heart because that is who I’am. I get satisfaction in helping others if i can.
cheers
🙂
glenfish,
What a heartfelt – awesome comment!!! Keep up the great work!
Thanks Buddy 🙂
I appreciate all you do as well!
Lunch time in Toronto; trading falls off a cliff. Payday yesterday may help extend an afternoon rally.
Don’t most get payed on friday’s?
Looking for that 2pm push higher and definately would love to see a strong push and white candles at the close.
But im going to keep my mouth hush 🙂
Thanks for the Santacruz report, Roger
IMHO, the big boys are trying to keep things somewhat under a lid.
One day they let gold run.
The next day it’s silver’s turn.
Pretty obvious over the past few days IMHO.
GL to all investing/trading.
LPG