ed wener on the recent strength in the stock:

I would like to congratulate Rich (from the Scarborough Bullion Desk) on his brilliant call two months ago about Silver Standard Resources. Since his call the share price is up almost 40%. I remember his call because I too was watching SSRI. In fact I decided to sell all my Aussie shares and put the money on SSRI. Why? Well I won't go into the fundamentals except to say that the NET present value of their Snowfield project is almost triple the Market Cap of the whole company, the rest of which includes a large silver producing mine and 1.5 BILLION oz of silver in all categories. Rather take a look at this chart of SSRI compared to the price of Silver Bullion. If we go back three years to Nov 26, 2007 when Silver was at $14.80 and BEFORE the great Snowfield find and before they opened their silver mine, Silver Standard hit a high of $40.70 a share. Today it hit $25 a share with the silver price up almost ten dollars. So to summarize, SSRI was trading at 2.75 times the silver price in Nov/07. Today it trades at par. The share price would have to hit $68.75 (without counting Snowfield) to get back to the old high. One final point about SSRI. I did a little research on the major Precious Metal Funds in the USA and Canada and their almost universal exposure to the Silver shares is via Silver Wheaton. It is a good choice. SSRI is nowhere to be seen among their top holdings. Well SSRI has now broken out of a long downtrend if we compare its share price to Silver Wheaton. The momo boys will have noticed this too.
Cheers from Auckland,
Ed Wener ed.na@xtra.co.nz