Apogee Silver the next rising star
Yes i know Bolivia is a bit risky, for now. With the recent nationalization of South American Silver, I believe the government is done nationalizing any further, otherwise,they would have nationalized the whole sector. The nationalization in this case was only specific to a few that were strategic to national interest where by in South American Silver case, they have 25% of worlds indium reserves. This fear, which was overblown IMO, forced investors to sell, which let to crippling s.p but, this is not the company i want to talk about. It is Apogee Silver (APE-V) This company has about 117 mil ounces of silver not counting lead and zinc which with conversion would bring it up to about 147 mil with an average grade of 150 gr/tonne A very rich deposit indeed. Apogee, few weeks ago come up with partial FS that confirmed the technical and financial viability of a silver-lead-zinc mine and base metals concentrator at Pulacayo that will form a platform from which full-scale development of the Pulacayo-Paca resource can take place The full FS should come out this month in February. With this, the company then, will be going into production with in a year They have a very large institutional backing such as Sprott Asset mgnt, Cannacord Genuity, PineTree, Ceour d'Alene and few more. Trading at around .07c, it currently offers a huge discount to it's peers on every metric. With it's current market cap around 20.5 mil, the market is only paying .18c for every ounce of silver Apogee has in the ground when the silver spot price is around $31 and when it's peers enjoys premiums over $1.00 all the way up to $8.00 for every ounce. They are a perfect take out candidate as Coeor d'Alene, a large cap miner operating next to Apogee has made intentions of making further acquisitions in 2013 They own over 10% of Apogee Silver.