Mining companies are starting to shut down their mines now till the metal prices come back up. They can't afford to mine metals that cost more to get out of the ground and process than they can sell it for on the market.
Mining companies are starting to shut down their mines now till the metal prices come back up. They can't afford to mine metals that cost more to get out of the ground and process than they can sell it for on the market.
Golden Minerals did just a couple of days ago. Their stock immediately nose dived, then started to come back up some. I am happy that I didn't buy any before they announced this, but I sure was thinking about buying.
Golden Minerals did just a couple of days ago. Their stock immediately nose dived, then started to come back up some. I am happy that I didn't buy any before they announced this, but I sure was thinking about buying.
My Dad always pegged the price of silver mine stocks to whether we were going into recession. If the price of a stock hit its low for any given period, then he would say the U.S. was heading into recession.
It was just recently, when the price of silver went to half of what it had been a short time before that the prices of those mining stocks went much lower.
I look for the end of the funny money paper regimes we have been used to fooling with, and the resurgence of money of real value.
Remember, you cannot "pay" a debt with a debt. You can only "discharge" it.
When FDR abrogated the gold standard in 1933, he set into motion some very real things which we will soon find out are going to catch up with us all. ;)