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Santacruz Silver Mining Ltd V.SCZ

Alternate Symbol(s):  SZSMF

Santacruz Silver Mining Ltd. is a Canada-based company, which is engaged in the operation, acquisition, exploration and development of mineral properties in Latin America. The Bolivian operations are comprised of the Bolivar, Porco and the Caballo Blanco Group, which consists of the Tres Amigos, Reserva and Colquechaquita mines. The Soracaya exploration project and San Lucas ore sourcing and trading business are also in Bolivia. Bolivar Mine is located in the state of Oruro in Bolivia, and municipality of Antequera. Paved roads connect Bolivar to the capital city La Paz (298 kilometers), Oruro City (75 kilometers) and Poopo Rail Station (22 kilometers), which is the concentrate warehouse and dispatch. The Caballo Blanco project consists of three separate mines and one process plant operating as one to produce Zinc and Lead concentrates. The mine is 34 mining concessions covering an area of 5,139 hectares, including the highly prospective 337-hectare Santa Gorgonia 1 concession.


TSXV:SCZ - Post by User

Post by greendayyyyon Sep 27, 2021 1:56pm
145 Views
Post# 33924760

Decline

Decline
Last week, mining stocks fell quite visibly, and this happened without significant help from the USD Index and the general stock market. Silver and gold were virtually flat week-over-week, as was the USD Index, and the general stock market (S&P 500) was up 0.51%. This means that gold and silver stocks should have closed the week relatively unchanged (as gold and silver did), or moved slightly higher (in the same way that other stocks do, as sometimes miners get ahead of themselves).
Instead, all the major proxies for mining stocks fell and closed the week at new daily and weekly lows of 2021. The HUI Index and GDX ETF fell about 3%, silver stocks (SIL ETF) fell 3.6% and the GDXJ ETF (proxy for junior miners) fell 3.83%, meaning our short position in the latter became even more profitable.
More importantly, it means that mining stocks continue to show weakness against gold, which tells us that the medium-term downtrend remains well intact. It also tells us that what I wrote earlier about the medium-term link between the general stock market and mining stocks was most likely correct. Namely, that miners can decline without a decline in other stocks. A decline in the latter (as I always expect to see sooner or later) will only exacerbate the volatility of the decline.
I believe that mining stocks should now decline deeply. The 3% decline we saw last week is probably just a small start to the whole slide.
Yes, the stochastic indicator is very oversold, but please note that the same was true in 2013 during the powerful post-head-and-shoulders slide. And that did not cause the decline to end or be reversed.
 
 
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