That is good news. Fidelity does their homework as much as anyone, so it's a nice endorsement.
I talked to Rick Rule today, & he is a fan. Surprisingly he admitted he wasn't very internet savvy, so I gave him the address here & told him how good a forum this was. His thoughts? SSRIF was a good buyout play. Has lots of reserves, & can be had for 40 cents/oz while silver has gone up $2. Apex was a logical candidate as they just came public & had capital to blow, while SSRIF was big on opportunity but needs more capital (some of which they now have). They also have big projects right near each other in Bolivia, & apparently the deposit in Australia is a prize holding too. Apex is basically run by George Soros, so it would seem he saw the same thing Warren did, & SSRIF would add a lot of reserves in a hurry. George is a mover, so I think if anything were to happen we'd see action soon. To date, there hasn't been any "unusual" activity in the stock.
He liked FSR, but was disappointed they were using capital to improve production vs adding reserves (I don't know enough yet to really comment there), & we agreed reserves will eventually play a major role in valuation, just like they are in the gold industry. Said Intl. Penoles in Mexico was probably the best pure-play in silver, but that PAASF & SSRIF were the must-owns for US mutual funds.
I should add, too, that he knew of several mutual funds in Canada that were forced to sell SSRIF positions (among other things) near year-end due to heavy redemptions, and that it's created a lot of short-term overhead. In my opinion, if we can close at a new high, it opens up the gates. ID |
