Re: Sell your ECU shares?
in response to
by
posted on
Jul 25, 2008 02:34PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Priggly I admire your optimism but with all due respect that chance is probably only outdone by the lotteries.
I am much more pragmatic and my question is for today, or at the very most next week, with no silver price of $50 or more, nor a fabulous news release that shows most of the potential billion ounces of Ag to be verified, or a buyer in the wings.
Here is my background for asking:
I day trade a small part of most of my stocks if they vary enough on a daily or weekly basis. ECU is no exception, however I have not traded any ECU for quite a while though doing so with my golds. ECU is my only, what I characterize as pure silver play, most are mainly golds with silver and copper etc. as byproducts.
The present share price in range of $1.70 is not only a joke but outright ridiculous.
The company is in no way at fault, it is the state of the market.
Sooner or later the market will wake up BUT in the mean time we could get an offer that many could consider a blessing and part with their shares leaving the die hards holding, per Priggly's comment ( No put down on you, I only wish it could be true).
My 'pragmatism' asks where do the other shareholders stand. Could there be many that would take a $5 offer or perhaps sell all together at $10.
Currently I have a few shares that I would part with in the 2$ to 2.20 range. These are the short term trades and have been aquired with petty cash in my account which I prefered to have instead of the cash gathering less than one percent interest.
Then there is the long term hold part;
I would sell about a quarter in the 2.50-3.00 range with the intention of buying back if the price were to drop again.
Next quarter in the $5 range with similar intentions about buying back.
With the remaining half I need to be hard nosed about - $10 and above with the hope of keeping at least the last quarter for the $20 plus range.
Should the implied part of the billion ounce resource be upgraded so that we have about half a billion ounces verified (doubled) then my above prices automatically double.
Aurelian has a buyout offer of only 63% above current price range. How many of you would accept a two third premium of $2.70 for your ECU shares today. That scares me.
Hence I welcome your comments and expected sell prices. Thanks.