with apologies to alan greenspan, i think the junior mining shares are now reflecting irrational pessimism. sso is trading near levels it reached in the panic of last august, when it looked like the entire banking system might implode. first majestic, one of the juniors i mentioned a few days ago, just reported finding new high grade ore yesterday, and its price went down 18 cents.
memo to first majestic shareholders: that's what your company is supposed to do, find more silver.
esperanza traded at $4 last year, and now is quoted about $1.30. if you put handbags on sale for 2/3 off, you would be trampled by little old ladies trying to buy them. but even at $1.30, there isn't a lot of interest in esperanza. it is as though the market has decided the san luis will never grow any larger, there is nothing economic at cerro jumil, and of course all of the company's other properties are worthless.
if you're looking for another small play, take a look at eastmain resources. a couple of months ago they reported finding 55 examples of visible gold in their core samples. they just got the assay results in, and the stock actually went up 15 cents! this is one of the few juniors that is being rewarded for doing the right thing, so i believe it is worth a look.