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« High River Gold Mines Ltd: Holding up well | Main | Gold-prices.biz: Portfolio Update 18 June 2007 »
Wednesday
Jun202007

Silverado Gold Mines: Accumulate under 10 cents

The summer doldrums has presented us with a bargain buy in that Silverado Gold Mines Limited is now trading under $0.10.

We put in an order today to Buy at 9 cents which is a little on the cheeky side but we thought that we would try and take advantage of the current sell off in this gold miner come green fuel adventurer. We believe that the fundamentals for gold in the second half of this year still look good and that the Nolan Heights gold mine is getting closer to the dream of hitting the Mother Lode. Even without hitting the ‘Big One’ this company is still generating cash from mining placer gold which is of exceptional quality. With that in mind we will try to find some more cash in order to accumulate more of Silverado’s stock.

The side order isn’t doing bad either! The green fuel project which was another dream not so long ago has finally commenced and if it lives up to expectations when it comes on stream this stock price will really move. Just sit back and imagine it, oil pushing $80 per barrel and Silverado pops up with a form of synthetic oil for around $15 per barrel. The calculator is over heating!

As we can see from the chart this stock has certainly been volatile lately but may just be beginning to form a base from which it can build.

Silverado Chart 20jun07

Don’t go too mad on it though, after all it could still go lower before heading north.

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Reader Comments (9)

I like Silverado and am holding some. I would buy more. I've "lost" money on it to date, but I know when the gold rush begins everything that has been down will revive briskly.

June 21, 2007 | Unregistered CommenterGMiki

Yep, when it hits $.20 a share there will be another 100 million share placement, and then you can declare a tax loss at a nickel. Yep, with a share float of about 700 million you can't lose.

July 3, 2007 | Unregistered Commenterdhofer

Some of these stocks do a reverse split and you have thousands that turn into fewer stocks worth more. Then the stock issue number will be less.

July 6, 2007 | Unregistered CommenterGMiki

huge shareholder ripoff. this will be the next bre-x

October 24, 2007 | Unregistered Commenterjay berg

I have yet to experience a reverse split as being profitable for any stock holder. Any example of success in reverse splits would be appreciated. Where is this stock headed, so far nothing but DOWN!

December 25, 2007 | Unregistered CommenterRobin

I had a reverse split on URRE, which has done quite well. I wonder if this stock is being beaten down by a lot of naked shorts.

December 27, 2007 | Unregistered CommenterGMiki

With 700 million shares outstanding, NSS would be the least probable reason for it being in the basement. Look at plrs reincarnated as psti. After the reverse split, it still goes down.

December 27, 2007 | Unregistered Commenterdhofer

I own a few of these shares---I have done a fair bit of research on the company and believe they have a good chance of becoming a major producer of gold in the near future. Hence my intention is to accumulate more Silverado when I have spare cash. I would not accumulate on margin as developing mines can run into bumps in the road.

January 4, 2008 | Unregistered Commenterbobi

What about the green fuel project? Take low rank coal, dehydrate it, and turn it into usable synthetic fuel. The process is already known to work. Able to produce the synthetic at about $15 per barrel compared to $90+ per petroleum bbl. US has about 25% of known world coal reserves.. enough to supply domestic energy needs for 300 years. For $0.06 per share your risk is minimal with HUGE upside potential.

January 17, 2008 | Unregistered Commentermarketdoc

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