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World's largest pure silver mine about to become nationalized

derrybderryb Posts: 36,793 ✭✭✭✭✭
in Precious Metals
political situation in Bolivia deteriorating

"The government is recovering all the privatized companies”

Look for silver to surger further.

"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

Comments

  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭
    A major reason why PM stocks aren't performing as well as the PM's themselves. image

    My Adolph A. Weinman signature :)

  • cladkingcladking Posts: 28,637 ✭✭✭✭✭


    << <i>political situation in Bolivia deteriorating

    "The government is recovering all the privatized companies”

    Look for silver to surger further. >>



    Oh my!
    Tempus fugit.
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,359 ✭✭✭✭✭


    << <i>political situation in Bolivia deteriorating

    "The government is recovering all the privatized companies”

    Look for silver to surger further. >>




    Could tighten silver supplies. Government corruption and incompetence don't point to increased production.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
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  • halfhunterhalfhunter Posts: 2,770 ✭✭✭
    I hope the companies cave the damn things in and torch all the equipment on their way out ! ! !

    HH
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
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  • jmski52jmski52 Posts: 22,824 ✭✭✭✭✭
    Atlas Shrugged, all over again.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cladkingcladking Posts: 28,637 ✭✭✭✭✭
    I suppose Bolivia probably sold the mine based on a much lower silver price and
    now have sellers remorse. Since they make the laws they believe they are fully
    justified in renegging on the deal. These kind of things should probably be expec-
    ted with soaring prices. If it weren't with this huge mine it might have been sev-
    eral other smaller ones. Obviously the mine will now be horribly mismanaged
    since it will be run by some poiticians' brother in law who's a school teacher rath-
    er than the owner's nephew who's a mining engineer. Costs will escalate and
    silver output will slow. It will be plagued with shutdowns and accidents.

    A suppose the Lucky Friday mine is in a similar situation. With high silver prices
    they are trying to increase production, working overtime, and cutting corners.

    Total world mining will still increase in the coming year but will increase less than
    it otherwise might have. This is exactly the sort of pychological boost that could
    trigger a buying panic. People are in store for a new way to think of silver and
    nothing will bring this on faster than sharply rising prices.

    These are interesting times but I'd trade them for the boredom of the 1950's.
    Tempus fugit.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Bolivia is responsible for 4-5% of world silver output iirc. For now, the govt has said they will only go after mines that were formerly owned by the govt and later privatized. So that means a number considerably <4-5%. But it remains to be seen if they will stick by this. Hard to trust a strongman. CDE's flagship mine was not once govt owned. But no doubt strikes, labor disputes, wars, and nationalization will weigh on miners located in emerging nations. There aren't that many "safe" jurisdictions out there. And it's the safe ones that
    will tax the miners to death rather than nationalize them.

    roadrunner


    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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