Monday, December 6, 2010

Aurcana silver

I bought another junior Silver miner on Friday, Aurcana Silver, for the following reasons:

  • The mines are located in Mexico and Southwest Texas, mining friendly environs.
  • Aurcana is expecting ther production to quadruple to 5 million ounces of silver.
  • Sprott Asset Management have just  entered into a debt financing deal with them to complete these projects.
  • I like U.S. production, as our mints must buy U.S. production for their coins.
Although, I think silver may take a short pullback here, and this stock has run ahead, the juniors in my opinion will hold their value due to their take out values. 

I intend to buy more on any touch of the 50 EMA.

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