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monksnake (40.06)




February 18, 2011 – Comments (8) | RELATED TICKERS: GPL , EXK

Hello all, I've just recently delved into PM stocks and I got a question for you silver bugs.  First I'd like to thank TMFSinchura for his extreme knowledge on metals and his willingness to share his knowledge. His blogs and articles have helped me tremendously. 

I'm running into a problem with valuations on 2 silver miners, Endeavour Silver (EXK) and the much-hyped Great Panther Silver (GPL).  I see that EXK trades at a current price/book value of about 5 where GPL is currently about 10.  Both stocks have major growth ahead of them, however it seems that the current premium is higher for GPL and as a result, there may be more upside potential for EXK.  I have done my DD, but I'm very very green when it comes to evaluation mining companies.  I just think currently EXK looks like a better buy, am I wrong thinking this?


8 Comments – Post Your Own

#1) On February 18, 2011 at 6:32 PM, monksnake (40.06) wrote:

My bad, it's TMFSinchiruna, sorry about that. :(

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#2) On February 19, 2011 at 9:10 AM, catoismymotor (< 20) wrote:

Don't worry, it is an easy typo to commit. Many people call him Sinchy for short. He also goes by my the caps name Silverminer.

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#3) On February 19, 2011 at 9:11 AM, catoismymotor (< 20) wrote:

I wish I had some good input to offer about both companies. I've just started to look at GPL, will devote some time to EXK as well.

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#4) On February 19, 2011 at 11:51 AM, silverminer (29.80) wrote:


GPL has only just begun the process of proving up its mineral reserves, since its ore deposits are so incredibly rich they dedicated drilling efforts until recently primarily to guiding the immediately proceeding mining efforts. Endeavour used to be in the same boat, and it was the official codification of reserves which the company and well informed investors knew they had all along that led to their earlier growth spurt vis-a-vis GPL. Book value for both companies is a rather meaningless metric, since both companies have vast treasures in silver on their properties not yet codified into stated reserves.

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#5) On February 22, 2011 at 12:06 AM, monksnake (40.06) wrote:

Sinchy, thank you very much for the input.

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#6) On February 22, 2011 at 6:40 PM, EKC10 (< 20) wrote:

I too am relatively new to the world of silver miners. I started off with HL at 6.49 last Oct and also bought EXK at about 6.40.  I acquired Great Panther today and US Silver Corp  a few days ago at 0.53. I firmly believe that silver has a long way to go yet this year, although I am not inclined to believe the parabolic hype that many speak of on other fora. That being said,  it is disconcerting and worrying to see spot silver rise so aggressively over the last few days and yet to see the above stocks barely stand still or, worse still, fall. There is much commentary of market manipulation by the shorts which is clearly evident but would welcome the thoughts of more knowledgeable folk on the prospects for the above.

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#7) On February 23, 2011 at 7:51 AM, XMFSinchiruna (26.45) wrote:


Yesterday's stock action requires no such speculative interpretations to understand. 

1. The major indeces experienced a powerful reversal of sentiment and active selling activity in a familiar "flight to safety". What they were flying to doesn't yet seem clear, since the dollar fell as well as gold and silver on the day. But the salient part was a flight from equities, and in their earliest stage those flights always fail to discriminate logically between those stocks like gold and silver miners that would best be maintained as part of that flight to safety they seek.

2. The professional money was likely the main driver there. After a lengthy run of positive momentum play on the markets, they were no doubt repositioning in droves during yesterday's market. Raise cash, and redeploy ... that is their mantra every time momentum shifts.

3. There are a lot of uninformed folks out there who may have seen red on the gold and silver charts Tuesday morning, and not even realized what had transpired the day before. Mark Hanes on CNBC was confused about gold yesterday, for example, remarking that his chart indicated it was down, and wondering why people were referring to it being up. I've seen that before, where U.S. holidays lead to funky action in pms and pm stocks.

4. Don't worry ... these stocks will have their time to shine. :)

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#8) On February 23, 2011 at 5:42 PM, EKC10 (< 20) wrote:

many thanks for your thoughts, Mr S. 

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