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Gold/Mining/Energy : Silver prices

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To: Ray Hughes who wrote (1863)5/27/1999 4:08:00 PM
From: Alan Whirlwind  Read Replies (1) of 8010
 
Ray,

I've been buying lots of junk silver between $4.85 and $5.15. My suppliers were private so no tax and I paid an average of 5X face for the US junk and some Canadian silver dollars. 3 1/2 times face for the other Canadian stuff. And the US silver dollars I picked up were 9.75 each.

I averaged down on UKH at .17 Ca. on the ask, though I'm sure you could get some at .15 if you cared to wait for it. I bottom fished a few K of SILVZ, the Sunshine Mining warrants expiring in May of 2001 at 1.38. With SSC at 7/16 the stock itself is a steal, though I got my one K at 9/16. Anybody, put a bid in at 7/16 and it's yours in a day or two. The warrants are harder to get. Half of mine I picked up at 1/8. A bid at 5/32 would probably go through after a few days.

My gold hopes are in ZPA. A small, pretty much debtfree Mining Company with a great gold property in Ecuador with heavy silver credits in the proven ore. Has a pile of Ecuadorian Minerals shares in its treasury. Needs further drilling to prove up a viable mine. At .10 Canadian it's a steal considering its assets and very small debt. I also picked up a used metal detector from an acquaintance to find 1960's silver coins. I continue to pick up plate silver at yard sales where the weight is apparent and the price is small.

Anybody else out there? --Alan
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