silver down big ayn strongly up???, page-26

http://www.theaustralian.com.au/business/mining-energy/why-did-two-silver-stocks/story-e6frg9ex-1226051199484

ONE commentator called it "a swoon in silver".
It sure did that. And already the requiem masses are being read for silver although no doubt the short sellers couldn't erase their smirks.

So why did two silver stocks head north this morning?

Well, there are some interesting points to be made about silver and next Monday?s print edition of Pure Speculation will traverse those.

In the meantime, this morning we saw Alcyone Resources (AYN) head north by 19 per cent at midday to 12.5c. This is a stock that has begun to move in a serious way in the past few weeks - partly helped, no doubt, by some recent and very heavy promotion in some sections of the financial media.

The other stock that headed north this morning was Peel Exploration (PEX) after announcing results from its NSW projects. There were some encouraging rock chip samples from the Ruby project 30km east of Armidale, one assaying at 1370 grams/tonne silver, along with gold, lead and zinc. Then there was a silver-lead-zinc discovery 100km south of Cobar with intersections including 5m at 21 grams/tonne silver, 0.15 g/t gold, 27 per cent copper, 0.87 per cent lead and 1.88 per cent zinc.

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The stock rose 21 per cent to 11.5c. This is interesting because not only did silver get chopped off at the knees overnight, but copper was down 5.4 per cent, lead fell 8.1 per cent and zinc by 5.1 per cent. So PEX sure went against the market trends in all respects, and will clearly be a stock to watch.

Yet all the other mainly silver plays - Silver Mines (SVL), Argent Minerals (ARD) and Cobar Consolidated Resources (CCU) - were down in morning trade.

As we say, more on the silver story come Monday.

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