adam m,
I had not even realised that the price rise this week was the best in 12 months! Good pick up! Gold and silver both confirming each others rise so an assault on $14.50 silver and $692 gold looks on the cards! $15.20 silver and $722 gold are the highs but I think they will pose no resistance once the prior resistance levels are broken. Yes I have seen analysis on silver with some projecting US$26 target. Such a price level coenciding with MMN upping production to 4M oz will push the MMN share price well over $1 up towards $1.50. Pure silver produces command a higher P/E than other miners and historically trade on a P/E of 12 to 15. That $1.50 target is a P/E of 13 at 4M oz per year at a cash cost of $13 oz which is well above the projected cash cost of $8.
I suspect the $14.50 and $692 areas will stop the current price advance as it's too much too quickly! Allow a few weeks to trade sideways in a consolidation and then smash those resistance levels! That would put a break of the $15.20 high possibly in mid/late July!
Here's hoping!
Cheers,
PhillW
MMN
macmin silver ltd
