Santacruz Silver Mining reports fatality at Tres Amigos mine in Bolivia
Tres Amigos mine, a part of the Caballo Blanco Group of mines, has resumed operations after it was shut down following the incident.
We kick off we a quick look at the above table of silver producers, as we can see its been a damn good day to be a silver bug with the majority being 7% to 8% up in this trading session. The smaller caps have done very well indeed so its three cheers for their respective teams who have stuck with it through thick and thin.
The elephant room is of course the Silver Wheaton Corporation (SLW) and they managed to also sprint to a gain of 8.21% as we write, which adds about one billion dollars to its market capitalization, in one day!
Our core position, despite looking like it was going to take a big hit yesterday as the metals headed south, has weathered the storm of both the US elections and Ben Bernanke’s QE2 announcement, to bounce back putting a tight squeeze on the shorts. Silver prices are gaining traction and slowly but surely are getting a little more attention, not a lot, but sufficient for now. So, some of the holders of these short positions that are margined up to the gills will be getting calls. What that means is that they have to put up more cash immediately or their positions are covered regardless of their ‘potential’ which means that silver has to be purchased to close out these positions. So, we now have the newly created believers buying silver and the shorters having to buy, like it or not. We can only conclude that silver prices are low at the moment and are set to go a lot higher from here.
So, get your skates on and get involved in this sector of the market as it is just starting to tick. We couldn’t give a fig about which vehicle you favour, whether its the physical metal itself, the miners or the funds, we have made our decisions are we are comfortable with them. You need to do the same, do not stay on the sidelines and be a spectator, this is it, right here, right now.
Now, both gold and silver traded a lot lower just prior to this spike and looked a tad gloomy as investors were nervous about the possible outcome of the elections and QE2. However, our options team remained focused and issued a buy signal stating which options contract to buy, the series, the strike price and how much to pay for them. These contracts, which are barely a day old are now trading 91% higher than when we fired out that buy signal putting a huge smile on our subscribers faces.
If you have got something better then please tell us about it, if not, then please give some consideration to joining our winning team.
Our premium options trading service, SK OptionTrader, has opened and closed 12 trades in the last 6 weeks, banking an average profit of 70% on these trades.
This brings our total of closed trades to 38, with 36 winners. This means that a subscriber who had invested $1000 in each of our 38 trades would have banked profits of $15,636.00. We have just posted a set of charts demonstrating the importance of timing in any trade on gold-prices, please click here if you are interested.
The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.
So, the question is: Are you going to make the decision to join us today?
Stay on your toes and have a good one.
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Gold Prices makes no guarantee or warranty on the accuracy or completeness of the data provided on this site. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This website represents our views and nothing more than that. Always consult your registered advisor to assist you with your investments. We accept no liability for any loss arising from the use of the data contained on this website. We may or may not hold a position in these securities at any given time and reserve the right to buy and sell as we think fit.
