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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

SVM (Silvercorp)
PostPosted: Wed Sep 14, 2011 2:06 pm Reply with quoteBack to top

Anybody watching this? -- or like me, living it?

http://www.miningweekly.com/ar.....2011-09-14

The gold newsletter that I subscribe to still has a 'buy' on this, and they are standing behind it (actually suggesting that this dip is a great buying opportunity). I'd love to post their analysis, but its a paid subcription. This is actually the second such accusation in the past month, and last month they said 'close your eyes, hold your nose, and BUY', or something along those lines. I didn't, but I didn't sell either.

I ended up selling 30% of my position yesterday afternoon. I bought at $8, so I' not getting killed ... yet. I've never had an investment actually go to 'zero' before - I hope this isn't the first.

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: SVM (Silvercorp)
PostPosted: Wed Sep 14, 2011 5:02 pm Reply with quoteBack to top

the FBI is getting involved now ...

http://www.mining.com/2011/09/.....um=twitter

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: SVM (Silvercorp)
PostPosted: Wed Sep 14, 2011 5:58 pm Reply with quoteBack to top

I had been considering a buy the last few days...but looking at the weekly charts it appears as a bearish down sloping head and shoulders pattern with a break below the neckline and I have held off. Dunno, it might be a good buy but I'm waiting to see what PMs look like in Mid Oct to buy more.

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There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: SVM (Silvercorp)
PostPosted: Wed Sep 14, 2011 7:07 pm Reply with quoteBack to top

dreamer wrote:
I had been considering a buy the last few days...but looking at the weekly charts it appears as a bearish down sloping head and shoulders pattern with a break below the neckline and I have held off. Dunno, it might be a good buy but I'm waiting to see what PMs look like in Mid Oct to buy more.


I don't get it -- Silvercorp is being accused of out and out fraud, and you're looking at its chart patterns?

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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dreamer
Demolition Man


Joined: 09 Aug 2007
Posts: 2101
Location: Northern California

Re: SVM (Silvercorp)
PostPosted: Wed Sep 14, 2011 7:26 pm Reply with quoteBack to top

Yep. The maket knows it all and I believe that the charts reflect what knowledge the inside buyers and sellers have long before the sheeple do...like us. I think the chart pattern showed that those in the know knew before U.

_________________
There isn't anything so bad that the Government can't make worse...

The 4-functions of government today are the same as a criminal enterprise: Lie, Cheat, Steal, and Kill...
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: SVM (Silvercorp)
PostPosted: Thu Sep 15, 2011 4:06 am Reply with quoteBack to top

http://chinastockwatch.com/

From what I see, there are some questions that really need to be addressed.

_________________
“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: SVM (Silvercorp)
PostPosted: Thu Sep 15, 2011 1:08 pm Reply with quoteBack to top

achtung wrote:
http://chinastockwatch.com/

From what I see, there are some questions that really need to be addressed.


Here is Silvercorp's fairly detailed response. As far as I'm concerned, this thing could still go either way based on the "facts", but my gut is telling me its not good.

http://silvercorpmetals.com/_r.....1_to_4.pdf

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: SVM (Silvercorp)
PostPosted: Thu Sep 15, 2011 3:14 pm Reply with quoteBack to top

I read SVM's response.

One of the glaring accusations was not about what money was held in overseas accounts, but rather the amount of money held in Chinese Banks. This was not addressed.

The higher than average silver yields was not addressed

The lower than average extraction costs were not addressed

For SVM to come back and say "look at our tax receipts" does not make me feel any better. I am sure Madoff paid taxes too.

What the average investor has to go on, is the average metrics of other companies in the same field. If the latter two points do not throw "red flags" and make one get out of the stock, then the investor deserves all the pain that is coming.

This would be an aggressive assault by a short seller. To continue their assault on this company under 6.70 a share would lead me to believe there is fire under all the smoke.

_________________
“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: SVM (Silvercorp)
PostPosted: Tue Sep 20, 2011 1:20 pm Reply with quoteBack to top

the latest from SMV -- letter from the CEO of SMV yesterday (who personally bought 100,000 new shares of SMV stock on Friday @ $6.99):

http://silvercorpmetals.com/ne.....ent_id=318

The plot thickens ....

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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achtung
Nitroglycerin


Joined: 03 Jun 2010
Posts: 716
Location: Germany

Re: SVM (Silvercorp)
PostPosted: Thu Sep 22, 2011 4:46 pm Reply with quoteBack to top

It looks, more and more, like short sellers attempting to crush this stock thru misinformation.

If it is "short sellers" this companies response would have to go down as the textbook way to respond to the accusations.

_________________
“Debt and deficits are not inventions of ideology. They are facts of arithmetic.”

– Paul Martin
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