I Broke My Rule To Buy InMy 'rule' is to invest in a profitable producer. I'm a silver bull and own a producer which has done quite well for me and i expect it to continue as silver makes it's way into the thirties.
While i have nothing against explorers they do have two strikes against them. One: they have to hit with the drill bit. Two: the market has to like what they find which doesn't always happen for various reasons--timing, mgmt ineptitude, etc.
As the old line in the movie goes 'I'm not looking for miss right. I'm looking for miss right now!
Emerita has proven hits with the drill bit. Dozens of old pipes that weren't extended as the 90's plan was near surface mining. The size of the hits and their grades are proven.
They only worked the property for 18 months before the tailings dam collapse put the whole thing on ice. It takes ten years to build a mine from the first drill hole. Emerita can be in production in two or three...just on what's already proven.
That's miss 'right now'.
And there's every indication there is plenty more for them to discover...at these bull market prices. Yeah, I broke my rule on this one.
Cheers!