Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

First Majestic Silver Corp T.AG

Alternate Symbol(s):  AG

First Majestic Silver Corp. is a mining company. It is focused on silver and gold production in Mexico and the United States. It owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine, and a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, United States. It also owns and operates its own minting facility, First Mint, LLC, and offers a portion of its silver production for sale to the public. The San Dimas Silver/Gold Mine is located over 130 kilometers (km) northwest of the city of Durango, Durango State, Mexico and consists of 71,868 hectares of mining claims located in the states of Durango and Sinaloa, Mexico. The Santa Elena Silver/Gold Mine is located over 150 km northeast of the city of Hermosillo, Sonora, Mexico. The La Encantada Silver Mine is an underground mine located in the northern Mexico State of Coahuila, 708 km northeast of Torreon.


TSX:AG - Post by User

Bullboard Posts
Post by scissors14on Jun 19, 2006 9:04am
288 Views
Post# 11005843

Money Flow Turns Positive for SLV

Money Flow Turns Positive for SLVMoney Flow Turns Positive for SLV By Gene Arensberg 18 Jun 2006 at 09:07 AM EDT HOUSTON (ResourceInvestor.com) -- Silver holdings for iShares Silver Trust [AMEX:SLV] increased by 93.2 tonnes over the past week from 2,082.9 to 2,176.1 tonnes of silver bars held by a custodian in London for SLV investors. The trust is a continuous offering exchange traded fund designed to track closely with the price of silver. Each share of SLV approximates 10 ounces of silver metal. The amount of metal holdings and the number of shares of the trust fluctuate according to the price of, and demand for the shares relative to the price of silver. The trading vehicle only invests in silver metal and does not use futures, options or derivatives. SLV began trading on April 21, 2006 after a months-long period of anticipation and quickly ramped up in silver holdings to 2,270.31 tonnes by May 18, at the time worth just under $1 billion. By June 7, the trust had sold back into the market 187.41 tonnes to 2,082.90 tonnes held. Negative money flow for the silver ETF apparently stopped June 7 because the amount of metal stayed constant from then until June 14 when the trust began adding silver again. It added 46.6 tonnes of silver both Wednesday and Friday of this week. The price of silver peaked May 11 at $15.21 and then began a sharp retrace. It closed Friday at $10.24 after changing hands as low as $9.48 mid-week. At its recent nadir silver had given back 37.7% from the May 11 peak. The recent sharp plunge in the silver price has apparently triggered increased interest and a return to positive money flow in the silver exchange traded fund from bargain minded investors and speculators.
Bullboard Posts