Should I buy Silver and Gold?

[peanuts]

The country is being DRIVEN into depression, and we're supposed to be excited that gold topped $1000?

You shouldn't be excited about this. In fact, I never meant to come off as excited. If you go back through the thread, I have been pounding the table that this is where your money should be... I even correctly called the bottom at $8.50, then showed charts that indicated a good buying opportunity. But I'm not posting this crap to get excited for anyone that is holding gold and silver... I'm posting because there are people who need to know what to do in the time that we are now living. But, it seems that even though I DO post this crap, that nobody really reads it. By the time they believe me, it might be too late.

If I want to throw a party for silver and gold, I might as well hold a funeral for the economy at the same time. This thread is more about a way to balance to these crazy times in the market.

[dmk112]

The country is being DRIVEN into depression, and we're supposed to be excited that gold topped $1000?

If we get a deep recession, wouldn't GOLD go up even higher? Sell all your stocks and put your money into GLD & SLV and you'll be sitting pretty when we get out of this hole.

[New-born baby]

I'm shocked at the lack of interest here

Gold plowed through $1000 today

Silver heading much higher... $20 is on the books soon

The country is being DRIVEN into depression, and we're supposed to be excited that gold topped $1000?

[stockman09]

c

Gold chart(24 hours)

[peanuts]

I'm shocked at the lack of interest here

Gold plowed through $1000 today

Silver heading much higher... $20 is on the books soon

[peanuts]

I forget... did I mention how HUGE I am

joking aside, silver and gold doing quite well today. I'm not sure when it will occur or to what price they will pull back, but some consolidation may be forthcoming.

Anyone want to chart it up? I personally would not use the gapfib method for issues that trade beyond the normal market hours of US stocks. It may offer a map, but overnight moves with no real price gaps will not be accounted for with gapfib. That being said, though, I find gapfib very useful.

Ski.. hold on tight

[peanuts]

MMG - Metalline Mining

Thanks for info., Was poking around in the stock hide out this morn. and picked up on the blue light special for 0.35 cents (MMG) which turns out to be a mineral resource play.

Will make note of the Prec. Metl. Fund, can always use an edge. MEA

You can take my word for it, or I can show you the tranaction snap shot, but I bought 1000 MMG at .24 a couple weeks back. I have been in and out of it for the last 2 years now. Merlin actually sent an email to me a long time back offering warrants, but I declined and decided on the stock instead. It turned out to be a good trade.

The problem with MMG is that they currently do not produce any metals at all. It is simply a leveraged play on a commodity bull run for primarily zinc, but also silver. They recently had a change of exploitation method that took the planned mining from tunnel to open pit. This is due to test results of core drilling. The property which they have rights to is adjacent to currently producing mines and the reason for the change in mining technique is due to the higher than initially anticipated silver content in the ore body. This increases the actual value of the property than what was estimated originally.

In the long run, this may be a huge win, but they will need to acquire financing in order to produce anything from the mine. They will need processing and mining equipment and a reserve of cash to burn until operations are profitable. It will be a long time until they actually begin to process the ore.

Technically, the stock has been pummeled and is a risky play. It won't take much volume to drop the price back to my purchase level.

Fundamentally, MMG has "takeover" written all over it.

From the MMG report issued today:

clip:
During fiscal 2008, the Company completed an initial scoping phase of the feasibility study and developed a preliminary mine plan based upon the Company's initial resource model. The preliminary mine plan anticipated using an underground mining method that would use a long-hole end-slice panel stoping method to perform high-volume relatively low cost mining. The preliminary mine plan projected a minimum daily production rate of 3,000 tonnes (metric tons) per day, and a 17 year mine life. Shortly after developing the preliminary mine plan, the Company started working with its engineering firms to develop a more detailed mine plan and concentrator plant study. In May 2008, the Company selected SNC-Lavalin to prepare the detailed concentrator plant study. While working on the detailed mine plan and concentrator plant studies, the Company contracted with Pincock, Allen, & Holt to complete a new resource model based upon latest drilling results and a suite of silver analysis that were not available when the previous resource model was developed.
In July 2008, the Company announced that Pincock, Allen, and Holt had completed a new resource model on the Oxide Zinc mineralization that more than doubled the estimated amount of zinc present in the deposit. The new resource model increased the estimated size and zinc content of the deposit plus added a potential estimated by-product credit for silver associated with the Oxide Zinc Mineralization. The new resource model required the Company to take a fresh look at the optimum mine size, mining methods, and other economic and engineering factors. Open pit mining is possibly effective on a deposit of this size and geometry and would likely remove the production rate constraints that are inherent in the underground mining scenario that was previously considered. The Company has completed a first pass evaluation of open pit mining of the new resource model and has determined that mining and processing rates might be as much as five times greater than the underground mining method and would result in significant economies of scale and may allow market opportunities that are not available with a smaller underground operation. Preliminary economic evaluation of open pit mining suggests that it would be much more profitable. Furthermore, an open pit mining method may allow the Company to mine the Silver Polymetallic Mineralization, which lies adjacent to the Oxide Zinc Mineralization on the north side of the east-west Sierra Mojada Fault. This mineralization would be mined during stripping to access the Oxide Zinc Mineralization. The Company has been actively evaluating the Silver Polymetallic Mineralization, but does not have enough drill data yet, and in the right places, to create a comprehensive resource model for this mineralization. The Company's current drilling efforts are primarily directed at infilling and defining the Silver Polymetallic Mineralization in order to bring the data to the quality required for a resource model.
The Silver Polymetallic Mineralization is predominantly sulfide in nature and would require a different processing plant to recover the contained metals. The Company needs to gain a complete understanding of the size, grade and metallurgical character of this potentially large silver-rich mineralization in order to understand the impact on the economics of mining the Oxide Zinc Mineralization by open pit. If the Silver Polymetallic Mineralization can be exploited in the course of developing the Oxide Zinc Mineralization, there is potentially an additional, very positive, economic impact on the overall project.

and this clip:

As of October 31, 2008, the Company had cash, cash equivalents and marketable securities of $2,229,000. Since inception, the Company has relied primarily upon proceeds from private placement of its shares and warrant exercises as its primary sources of financing to fund its operations. We anticipate continuing to rely on sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing stockholders. There is no assurance that we will be able to complete any additional sales of our equity securities or that we will be able arrange for other financing to fund our planned business activities. Capital Requirements and Liquidity; Need for Subsequent Funding As discussed under its plan of operation above, the Company has suspended work on mine plan and concentrator portions of the feasibility study while it gathers additional drilling data on the Silver Polymetallic mineralization. As a result of the Company's limited capital resources and the on-going weakness in the capital markets, the Company has scaled back its exploration activities and administrative costs to conserve capital while it tries to secure additional sources of capital to fund its operations and continue exploration of the Sierra Mojada Project. The Company has scaled back its drilling activities from five drills operating at two shifts per day to three drills operating at one shift per day. In addition, the Company's officers and independent directors have agreed to defer a significant portion of their cash compensation until sufficient capital has been raised to continue its operations. Effective February 1, 2009, the executive officers and corporate employees entered into salary deferral agreements for 25% to 50% of their compensation while independent directors have agreed to defer 100% of the cash portion of their director's fees. Management plans to continue its efforts towards reducing administrative costs. However, without any additional funding, the Company may not be able to fund its operations through the end of its 2009 fiscal year.

[peanuts]

hi ho silver!

my GLD is now more than a double and still holding. this economic bs will push it over 100. still physically holding on to all my silver ingots and coin. looks like it was a bargain back at 10 range.

Silver and Gold are really taking off this morning. You picked up the GLD at a perfect time. As long as there is no funny business with the ETF holdings, then this should be a secure way to keep gold. I understand that it is fully taxable...

Coins are one of the best ways to hold silver. They are easily recognizable and there has never been a Philadelphia mint issued silver coin that has been off-spec as far as purity. http://coinflation.com will tell you exactly how much they are worth based on metal content. Right now, a silver dime that was made in 1964 or earlier is worth 96 cents in silver content alone.

eBay bids are going for as much as $12.00 on face value, and even more for the old silver dollars. 999 bullion ranges anywhere from $16 to $21 per ounce to get the physical product. SLV, which reflects spot silver prices is about $13.50.

Coin shops are charging high premiums for all physical bullion product.

[skiracer]

my GLD is now more than a double and still holding. this economic bs will push it over 100. still physically holding on to all my silver ingots and coin. looks like it was a bargain back at 10 range.

On Jan 22, 2009





Silver and Gold today:





Amazing how $920 gold and $13 silver happen at nearly the same time.

Now... who cares? You missed this opportunity. Will you be tuning in for the next?

[peanuts]

HUUUUUGE I tell ya, HUGE

On Jan 22, 2009

If silver breaks above $11.65, then 13 is on the books soon.

If gold breaks $880, then 920 will follow.

Silver and Gold today:





Amazing how $920 gold and $13 silver happen at nearly the same time.

Now... who cares? You missed this opportunity. Will you be tuning in for the next?

[peanuts]

If silver breaks above $11.65, then 13 is on the books soon.

If gold breaks $880, then 920 will follow.

These are areas of resistance, and both metals are clearly in downtrends, so if they get to these resistance levels, and the dollar begins to rally, then be very careful of a long position in either the GLD or SLV. If the dollar begins to tank, then hold for the target levels and set trailing stops to make some quick cash.

Oh yes, I am HUUUUUGE

[peanuts]

PM's seems to be at or near pivotal price levels.

If silver breaks above $11.65, then 13 is on the books soon.

If gold breaks $880, then 920 will follow.

I'm just curious... did anyone make a trade?

[peanuts]

Thanks for info., Was poking around in the stock hide out this morn. and picked up on the blue light special for 0.35 cents (MMG) which turns out to be a mineral resource play.

Will make note of the Prec. Metl. Fund, can always use an edge. MEA

You can take my word for it, or I can show you the tranaction snap shot, but I bought 1000 MMG at .24 a couple weeks back. I have been in and out of it for the last 2 years now. Merlin actually sent an email to me a long time back offering warrants, but I declined and decided on the stock instead. It turned out to be a good trade.

The problem with MMG is that they currently do not produce any metals at all. It is simply a leveraged play on a commodity bull run for primarily zinc, but also silver. They recently had a change of exploitation method that took the planned mining from tunnel to open pit. This is due to test results of core drilling. The property which they have rights to is adjacent to currently producing mines and the reason for the change in mining technique is due to the higher than initially anticipated silver content in the ore body. This increases the actual value of the property than what was estimated originally.

In the long run, this may be a huge win, but they will need to acquire financing in order to produce anything from the mine. They will need processing and mining equipment and a reserve of cash to burn until operations are profitable. It will be a long time until they actually begin to process the ore.

Technically, the stock has been pummeled and is a risky play. It won't take much volume to drop the price back to my purchase level.

Fundamentally, MMG has "takeover" written all over it.

[MEA_1956]

Hay Bud

Thanks for info., Was poking around in the stock hide out this morn. and picked up on the blue light special for 0.35 cents (MMG) which turns out to be a mineral resource play.

Will make note of the Prec. Metl. Fund, can always use an edge. MEA

[peanuts]

precious metals trade idea

PM's seems to be at or near pivotal price levels.

If silver breaks above $11.65, then 13 is on the books soon.

If gold breaks $880, then 920 will follow.

These are areas of resistance, and both metals are clearly in downtrends, so if they get to these resistance levels, and the dollar begins to rally, then be very careful of a long position in either the GLD or SLV. If the dollar begins to tank, then hold for the target levels and set trailing stops to make some quick cash.

I would expect both to at least test these resistance levels within a week or 2, so anything in the VERY short term is a buy below these levels. Target resistance ($87 for GLD, and $11.50 for SLV) for a sell to make a very quick few cents per share.

The A/D trend has clearly been in the favor of accumulating PM's since late Nov 2008: CHART LINK

US DOLLAR CHART LINK