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Strategies & Market Trends : Fundamental Value Investing

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polarisnh

To: polarisnh who wrote (3240)	8/9/2013 7:40:56 PM
From: Sergio H	1 Recommendation Read Replies (2) of 4719

Hi Steve. I have reviewed what has changed with SLW since we added it and withdraw my suggestion to drop it from the portfolio. Eventually silver prices will go up and SLW is in good position to withstand the drop in price until silver prices rice. They have little political exposure and long term contracts with major firms. What's new is their dividend policy and the warrant expiration, both positives. The warrant expiration will close out a lot of short positions and the new dividend policy should put more cash in shareholders pockets. I would like to see SLW use their cash flow to pay of the Vale acquisition debt. The increased debt and commitment to pay 20% of revenues as a dividend are not substainable in my opinion. Sergio

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