back inGot out of Minco back at 3 bucks per share.
I find that with the pullback of the last couple of days it is only modestly higher than what I got out at even though there has been a huge runup in precious metals during that time.
So I think there is value here.
Counting resources these guys are about $1 per ounce of silver in the ground. That's as good a buy as you can get on silver these days.
Now when an explorer goes into production there is a lot that can go wrong. Not like a major like Barrick, if they bring a new mine online and its has hiccups initially, they can easily ride the waves and get things straightened out without much impact to the company as a whole.
So there is certainly risk with a "one trick pony" company going into production. How do you deal with that reality? In my view it means you don't invest too much in any one such company. But by all means put some chips on the table, because they should have better than even odds of being successful, and if they ARE successful this thing is going WAY higher.