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The Company is engaged in the business of acquiring, exploring, and developing mineral properties, those containing silver and associated base and metals.
Oops... once again I was caught buying a little early, and this pick I mirrored in real life as well. Well, after going down 20% with a small real-life nibble, I conducted further DD and feel this one does not deserve the battering it's received. In their own words:Sterling Mining Company has strengthened its status as one of the world's few primary silver producers by restoring the Sunshine Mine in North Idaho's "Silver Valley" to production. The Company acquired the rights to the mine and related assets in mid-2003, and officially commenced initial production in December of 2007.Along with the Sunshine Mine and exploration properties encompassing over 25,000 acres in North Idaho's "Silver Valley" and neighboring Montana, the Company is exploring and developing properties totaling over 62,500 acres in the historic Zacatecas Silver District of Mexico.
For those who haven't been paying attention at what is occurring at Sterling, I would suggest you check out my blog post from June 3rd, 2008:http://caps.fool.com/Blogs/ViewPost.aspx?bpid=58357&t=01000763564022272135I have no position - long or short at this point. There are rumors as of today that the worst has indeed happened in terms of the company being able to finance daily operations. Do your own due diligence, but what I am hearing is not surprising me.
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