RE: RE: RE: RE: RE: "A Modest Proposal" I gather from the posts that we have a Quorum, but the question is, "How do we now bring the meeting to order??"
Following is a listing of the posts so far on the subject. At this point I would welcome any suggestions as to:
1) Whether you want me to carry on with the project? and
2) If so, how would you like me to organize it, other than just this rehash of the actual posts.
Posts todate:
I will start with some questions
Godman
4/15/2011 6:40:24 PM | | 118 reads | Post #29580682
) how
1much silver are we actually producing
2) what is estimates for near future
3) how many ounces do we have in the ground for sure
4) how many inferred
5) what is the drilling plan
6) what are some potential buys
I need some assurance along with others, when I see silver rising and us falling, I wonder why.
I will email company with these questions also.
elguvu
4/15/2011 8:05:10 PM | | 101 reads | Post #29580922
Thank,s Brucshaw,I will use that address. Godman ,they have stated that they have produced 126,123 silver eguivalent in Q1at 50%mill capacity and plan to reach 100%capacity of our mill at Q4 and produce1 million OZ a years.I guestion why it takes so long but???? I think that what is more important is if they have plans already under way for a bigger mill and more test drilling than they have anounced and if no why not..They also have a good past producing property that Silvermex brought into the deal which I believe has 2 mines ,alot of inferstructure and unexplored areas with good potential,you know kind if like Genco property . They or should I say we have the money to speed this up alot without borrowing or diluting our shares. Did you hear the story of the guy I hired to help me lay my harwood floor????? Good-luck to us all ELGUYU
RE: "A Modest Proposal"
elguyu
Sunwood,maybe being betwwen jobs,I have too much time on my hands but your proposal does interest me.Are you saying you will manage this as that would be good. If we all do come up with something would you present it to all the boardroom bigshots in person as i thing it would carry more weight that way... Elguyu
bruchaw
4/15/2011 11:13:43 PM | | 100 reads | Post #29581438
Thanks for the update. Looking forward to the production updates. Maybe someone can help me out here. I was disappointed to hear Fiona felt that we were "fairly priced".... what I gather from that is don't expect any increase in share price until the end of the year (when the mill gets up to speed). Am I reading this wrong? Is there some sort of SILVER lining? Anybody? Please help out a disillusioned canuck here.
Cheers Bruchaw
RE: RE: Fiona's reply to my questions
Mineshack
4/15/2011 11:52:47 PM | | 91 reads | Post #29581519
Hmm.................that "fairly priced" comment is suspect................................................Maybe she meant ‘barely priced’.......................................................Yeah, that what she said; “barely priced”.
Nothing else could make more sense.
Fiona response
godman
4/16/2011 12:44:37 AM | | 86 reads | Post #29581569
I understand your concerns but we believe we are being fairly valued in the market for what we have produced thus far. I will direct you to the website for answers to your questions:
This corporate update has a large amount of information that discusses our plans for the yearhttps://www.silvermexresources.com/s/NewsReleases.asp?ReportID=441562.
We issued a production update before the end of the quarter to answer questions just like yourshttps://www.silvermexresources.com/s/NewsReleases.asp?ReportID=449534.
Our technical team is working on re-compiling all of the data for La Guitarra into a comprehensive resource model. Once we have a better understanding of the deposit we’ll be able to discuss what our global resource is.
We plan on issuing a proper quarterly production update in the short term with answers to many of the questions you have. Until then I encourage you to call me to discuss any other concerns you may have. My phone number is listed below.
Best regards,
Fiona
RE: RE: "A Modest Proposal"
sunwood 4/16/2011 12:48:36 AM | | 90 reads | Post #29581573
Yes, I guess I would be willing to coordinate the project. Let's see how many are willing to participate! I'm not thinking of myself as directing traffic, but rather as someone puilling together a consensus of thought.
And sure, I would be willing to take it up with Duane Nelson, the CEO of Silvermex.
RE: RE: RE: "A Modest Proposal"
4/16/2011 1:17:10 AM | | 88 reads | Post #29581597
a quick response.........
1) We have more Silver than we need.
2) Production is currently at 50% because of inefficient digging.
3) Acquisitions today should be limited to mills, drills and hoes.
4) The existing drill program will make digging more efficient.
5) Long-term USA dollar debt should be immediately considered for increased production.
6) A dividend program through Goldmoney.com should be initiated.
No wise-arse comments about the "hoes".
Thanks sunwood!
RE: RE: RE: RE: "A Modest Proposal"
mouserman 4/16/2011 1:57:26 AM | | 116 reads | Post #29581618
Inefficient digging?
First i heard of that. I was told a lack of development of new ore was the cause for the production being only 200 tonne per day. You cant blast and mine at the same time, its not rocket science. And there is little use in running the mine fullsteam at 320 tonnes per day if you will run out of ore in 3 months and have to shut down totally while you wait to develop more.
The real development story here should be developing other other ore bodies such as Collosso so that mining can happen simultaneously from more than one area. However despite some proven reserves , ( smaller , rich underground orebodies) showing at Collosso and Nazareno , drilling must be done to give greater confidence in the ore widths etc and a mine plan for each area must be drawn up. It takes time. Collosso had the riches ore according to GGC 's data , with 373,000 tonne of ore at an average grade of 335 gpt silver and 2.65 gpt AU, containing over 4 million ozs SIlver and 31,000 ozs of gold.
Depending solely on La Guitara for big expansion of the production is not feasible imo.
However if bigger orebodies can be proven at Collosso and Navareno, i think there is a great possibility for at least trebling production to near 1000 tonnes per day. One day in the future they may also want to bring in the huge resources /reserves from the open pit at LA Cruz- Creston area into play as well. I think it is getting to be an easier decision with higher silver prices here. Go big or go home.
THE BEST scenerio is a huge , open pit operation with rich, underground production to mix in. But there are still many issues that need to be addressed before an open pit can be considered, such as land use and water permits.
Once i am back in Canada , ( leaving my winter home in thailand this week) i plan to get a hold of J Anderson again and I want to talk for the first time with the ceo, Duane Nelson. I would like to discuss the likely production expansion situations that they are considering.
RE: RE: RE: "A Modest Proposal"
SilverinMyPants 4/16/2011 3:41:03 AM | | 99 reads | Post #29581654
Great post, mouserman,
I second the sentiment: "GO BIG OR GO HOME"
If this is the IR person, frankly, she should be doing better than "We are fairly priced at 72 cents". To me, that sounds like her priority is protecting their asses. It sounds like defensive, reactive thinking from a culture that has been too long insulated at big companies rather than hungry juniors. I am not interested in such reeking, stale complacency. I can't conceive of the IR people or directors at the FRs, the GPRs and so on giving the bird to their shareholders in this way.
I want to hear: "We understand investors' frustration. We feel that the recent share price action has been dictated by a one-off news event and we are keen to clarify our reserves and resources at the earliest opportunity and drive ahead with ambitious plans to increase production fourfold in the coming 24 months. We are confident this will drive our share price forward to new highs."
I want to hear "We want to ADD value to the share price aggressively" rather than "Quit complaining, shareholder suckers." The latter message is what I take from "we are fairly valued at 72 cents", down from 1.03, while silver moves from $27 up to $43.
It's completely ****ing unacceptable. Oh no. I swore again. I DON'T CARE. I'm spitting blood at their arrogance.
Compare and contrast with what Jim Williams of Arian Silver cooked up yesterday: XCap have released their updated research note on the company:
https://www.mediafire.com/?b3y1c8vdjgyvcwp
That link courtesy of Sunjammer over on the AGQ board. Page 28 is the money page.
Unlike SLX, who say "Shut the hell up; be happy with 72 cents, moron", Arian have proactively got XCap to produce a detailed independent analysis which projects out into the future, using Arian's clear and ambitious indications of resource upgrade, to forecast a 1 year target rerate from the current 39p up to £1.41.
That's the difference between these arrogant, stuffed shirted snails at SLX and the people at Arian, who in a revolutionary manouevre, are more keen to drive their share price forward than talk it down.
Perhaps Jim Williams should have ordered XCap to write "We feel that 39p is a fair reflection of Arian's current situation, so suck it up". Straight out of the Big SLX Book Of How To Nurture Shareholder Expectations.
I second these points made by another poster:
1) We have more Silver than we need.
2) Production is currently at 50% because of inefficient digging.
3) Acquisitions today should be limited to mills, drills and hoes.
4) The existing drill program will make digging more efficient.
5) Long-term USA dollar debt should be immediately considered for increased production.
6) A dividend program through Goldmoney.com should be initiated.
A. Yes, we have hundreds of millions of ounces on the existing properties, drilled and undrilled. The LAST thing we should be doing is acquiring other companies and other land packages. Frankly, if I hear that they are buying ONE FRIGGING COMPANY before they get production on the existing packages up to 3m ounces, then I'm out and I'll ride this bull market with AGQ, FR, GPR and so on. If they announce an acquistion that would suggest to me that this is Silver Standard Mark II - just a vehicle for accumulating silver in the ground, with far less interest in maximising
ounces mined and driving shareholder value.
B. YES YES YES. Get in the dollar-denominated debt NOW, FFS. NOW is the time, while money is cheap and before the dollar collapse, to get in the funds to increase production. Silver will be $50 by the end of the month. It's time to commission the mine.
C. The dividend program is a great idea. It originates with Jim Sinclair, who is probably the most on-the-button guy in the precious metals market. This is the guy who in 2003 predicted $1650 gold in 2010. Looks like he was six months out. Sinclair's point is that dividends, even nominal ones, denominated in precious metal, deters shorting.
D. This IR person has started off dropping a complete turd with "We feel we are priced fairly at 72 cents." I don't want SLX to be priced fairly. I want SLX to be priced UNFAIRLY. I want the share price to make people who haven't got SLX shares cry and weep and wail and gnash their teeth. The job of IR is not to take the excitement and prospects and hype OUT of the stock but to inject it. Are they going to do this throughout the rest of the bull market? Every times SLX goes up 20 cents, put out an urgent news release warning against frothiness in the share price? Issue stern declarations that people should not bid up SLX shares?
FOR FRIGS SAKE.
I don't think I have encountered ANY OTHER COMPANY in the junior exploration/ development/ production arena go on record as expressing concern about their share price going up.
Mouserman, please speak to Mr Anderson about getting these MUPPETS to run this company in the shareholders' interests
Seriously
SilverinMyPants 4/16/2011 4:09:09 AM | | 104 reads | Post #29581657
That's the difference between SLX and AGQ.
AGQ serves its shareholders, nurtures legitimate expectations and conditions the share price, whether for a takeover or future fund-raising,by commissioning an independent report which builds the case for the share price moving up from 39p to £1.41. This isn't bluff; it's based on clear indications of two resource upgrades this year based on a 10,000m drilling program that's almost done - while SLX are still in the starting blocks.
This report on AGQ, which came out yesterday, will be circulated in the private investment community, to the newsletters, to funds, to the mainstream national newspapers.
and SLX says "We are fairly priced" at a share price similar to where they were in December 2010, when silver was $20 lower. Without any attempt to provide direction as to where the share price could or should go.
I know some of you moan that I harp on about AGQ, but this is why. One company actively drives its share price forward, and the other are a bunch of arrogant, complacent stuffed shirted snails.
Pretty soon, people start to wonder if there is a substantive reason why one company's share price underperforms. There is NO reason why SLX should be underperforming, other than the fact that the SLX board appears uninterested and unfit to promote the company. Are they planning on doing a new PP to their buddies at a nice cheap price?
They don't have to wait until they have a resource report saying "Yes, we have no bananas, but we DO have 200-250m ounces of silver". They could at least respond to shareholders with something a little more promising and a little less insulting than "72 cents, yeah, that's cool, you should be happy; now **** off."
To be honest, if SLX wasn't a screaming bargain and if they didn't have humungous silver resources, I would be long gone from this stock by now. There are plenty of other decent silver miners with far more switched-on, responsive management. The fact that SLX has the goods and is so cheap is why it's so frustrating. I retain the hope that someone can kick these people into shape. How hard can it be to market a company proactively and dynamically? I cannot fathom why someone would think it a good idea to tell shareholders that a share price 30% down while silver is 80% up is "fairly priced." It's fairly priced if you self-impose a blackout on properly marketing prospective production and resource growth.
Newflash for Fiona the turd-dropping IR lady: the aim of investing in a risky silver explorer during the biggest silver bull market in history is to aim for the most unfair, outrageous, bubblicious, wildly high share price possible. It's good for shareholders, it's good for fund-raising, it's good for fending off hostile takeovers. What it's not good for is doing cheap private placements to buddies that rip off the ordinary shareholder.
RE: Seriously
mcintms 4/16/2011 8:36:52 AM | | 62 reads | Post #29581789
I agree it is disappointing to hear "we are fairly valued". That's just a stupid thing for IR to say, better to say nothing. She just implied that SLX was wildly overvalued at $1 and $25 silver a couple months ago.
Investors are taking a major risk buying these little juniors (espec. with silver WAY above its 200dma), they sure as heck don't want to hear there's 0 upside because they're "fairly valued" as is.
That is such a dumb ting to say, I now wonder if there's an agenda (I dunno, buyout, attempt to issue cheap options ... let your imagination run wild).
Anyhow, GLTA
Sorry to bring that news.....
godman 4/16/2011 9:23:23 AM | | 60 reads | Post #29581850
but like you I am stumped why we are not up to $1.50, at least. Now it appears, what the reason is. I researched a lot of silver companies before I bought SLX and thought this had the best leverage. As I said before I could have bought ERD, at $4.75, but reading their numbers thought they were more than priced to their resources, a friend of mine owns ERD too, which makes it even more embarrassing. Fortunately this is my only dog, but has really screwed up my average. Going to stay in, because every time I sell the stock takes off, PATIENCE. Just happy I have a bag of the real stuff.