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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (62397)	11/29/2008 10:28:37 AM
From: tyc:>	Read Replies (1) \| Respond to of 78407

You're probably right, but I dumped my NGX because of probably unjustified doubts. My sole copper play is TRX. By my calculation (only), even at present prices copper production net of gold credits would have negative cost. Message 25199135

To: loantech who wrote (62397)	12/8/2008 4:55:31 AM
From: goldsheet	1 Recommendation Read Replies (1) \| Respond to of 78407

Have you looked at the Hecla preferred shares ? The 6.5% Series C Mandatory Convertible Preferred Stock looks interesting finance.yahoo.com With HL trading at 1.93 the pfd-C has a conversion value of $16.31 (1.93*8.4502) It is trading at $19.37, about a 19% premium. Here's the interesting part: If someone acquires Hecla, the conversion rate goes to 10.3093, making conversion value $19.90 @ 1.93. If Hecla goes out of business and liquidates, common stock goes to zero, but these cumulative preferred have a liquidation value of $100 plus dividends in arrears. The annual dividend is $6.50, which would make the yield over 33% if they were paying it. It's cumulative so dividends should eventually get paid. Seems like a way to play HL with less risk than common. Check 2007 10-K filing (on HL website) for all the details