Hochschild Mining Share Discussion Threads

[hard work] 30/1/2021 11:06

Re silver to $1000...
I'm no where near intelligent enough to think this through to the unintended consequences, but some of the narrative I've seen seems to suggest that the volume traded in GameSHop in one day was enough to buy a year's silver production.
IF there was a co-ordinated "attack" on the silver shorts, and IF this was successful, the financial pain on the big banks would be immense.
Would it actually destabilise the banking system?

[misterbluesky] 30/1/2021 09:02

Headline maybe misleading but good conversation about silver?

Can silver be short-squeezed to $1,000? Peter Hug

[misterbluesky] 30/1/2021 08:41

Gold price is riding silver's new attention wave, but is that good news?

Friday January 29, 2021 14:37



(Kitco News) Friday's rally in precious metals saw gold rise more than 1% and silver rally more than 5% on the day. But this time around, it is gold chasing silver, as the latter sees a wave of new interest.

"We had a nice move in silver and gold. It seems like there are a lot more silver enthusiasts out there now," said TD Securities global strategy head Bart Melek.

Usually, silver follows in gold's footsteps, but not this week, analysts told Kitco News.

"The price action on Friday has nothing to do with gold. It is more due to what is going on with equity markets and the Reddit posts. There are now posts encouraging investors that there is a short squeeze on silver while suggesting much higher prices," said Kitco Metals global trading director Peter Hug. "Generally, silver reacts to gold. This time around, gold is reacting to silver."

Silver rose from around $25 on Thursday to nearly $27.80 on Friday, with March Comex futures last trading at $27.36, up 5.55%. Gold, in the meantime, advanced from $1,840 level to nearly $1,880 in the last two days, with April Comex futures last trading at $1,860.60, up 1.05% on the day.

"There is significant retail interest in silver both in the physical market and in the ETFs. Also, some of the mining stocks that might have short interest in them exploded to the upside, the same as the GameStop phenomenon. It is a frenzy. Everyone is chasing the market. If that continues, gold is going to be higher," explained Hug.

There is evidence of Robinhood traders invading the silver market, said Walsh Trading co-director Sean Lusk.

"If you look at the action on call volumes on the options, they exploded — massive explosion in call volatility and option volatility. There are signs that new investors are entering the space. In some way in the gold market as well," Lusk said.

The precious metals market, especially silver, is starting to garner a lot of attention. This could keep pushing prices higher, especially considering that the fundamentals are favorable as well, Lusk noted.

This interest in silver is spilling into gold and could help prices reach $1,900 and higher next week, said analysts.

"There is some correlation trade with it. Fundamentally, we also saw the U.S. dollar relax a bit Friday. But when there is interest in silver, there is interest in gold," said Melek, who is bullish on gold in the short-term. "Talking about silver is reenergizing gold investors. The metals have many of the same drivers, but silver is much more volatile."

And whether or not this increased interest will lead to a massive surge in prices, it does bring the attention of a new audience that was not looking at precious metals before, added Melek.

"This could produce more indirect interest as opposed to direct. The Reddit phenomenon has just alerted the broader market to silver and got people paying attention," he said.

[misterbluesky] 30/1/2021 00:00

How WallStreetBets Is Fueling A Rally In Silver Stocks
Fri, January 29, 2021, 4:23 AM·

Silver stocks such as First Majestic Silver Corp (NYSE: AG) are shining amid speculation that the Reddit-fueled frenzy will extend to the precious metal and companies associated with it.

What Happened: First Majestic shares closed 21.56% higher at $16.86 and gained 12.69% in the after-hours session on Thursday. The iShares Silver Trust (NYSE: SLV), an ETF that tracks silver closed 5.55% higher at $24.72.

Spot silver traded 0.71% lower at $26.227, while March silver futures were up 1.38% at $26.28 at press time.

On Thursday, a WallStreetBets post claimed that banks are “manipulating gold and silver to cover real inflation.” The post went on to say that the inflation-adjusted price of silver should be ,000 and not .

“$AG is essentially $GME for Silver, highest short float in the sector, nice leverage to silver, and just broke out above 10 year resistance too,” said another post on the Reddit investor forum.

Other silver stocks that have seen a surge include Hecla Mining Company (NYSE: HL), which closed 16.84% higher and gained 3.2% in the after-hours session, and Fortuna Silver Mines Inc (NYSE: FSM), which closed 13.73% higher at $7.62 and rose 7.09% to $8.16 in the after-hours trading.

Why It Matters: Investor Chris Camillo said on Benzinga’s Short Squeeze videocast that he owns a $500,000 position in First Majestic and also owns iShare Silver Trust.

The Reddit investors are clamoring for vengeance against the likes of JPMorgan Chase & Co (NYSE: JPM), which they allege have manipulated the silver market.

If the investors on the forum are successful in moving silver prices, ETFs associated with silver-like ProShares Ultra Silver (NYSE: AGQ), and Aberdeen Standard Silver Shares ETF (NYSE: SIVR) could see gains.

AGQ closed 11.42% higher on Thursday, while SIVR saw gains of 5.46%.

[hector_p] 29/1/2021 20:17

silver is one of the new robinhood consortium trades always long I believe so silver to $30 soon

[petebreeze37] 29/1/2021 19:08

A big re trace next Monday and then off, or a continuation of today from the off.
Any ideas, I'm thinking from the off, this made more gains, I think, than other miners today.

[petebreeze37] 29/1/2021 19:05

Probably was shorted and with jpm involved the whole think stinks.

[ifthecapfits] 29/1/2021 16:50

What a great day with this, SAVE & MARS.

[ifthecapfits] 29/1/2021 16:41

The 'market' always throws up anomalies and opportunities, its down to whether you are brave enough to take them.

[banj] 29/1/2021 16:37

Lovely volume again c.7m!! Was this being shorted by the "suits" as well?? 240p next target.

[farrugia] 29/1/2021 15:21

why is this going up so sharply when Fresnillo and Polymetal aren't moving??

[juju44] 29/1/2021 14:51

Look at those yank mafia fkkers rip the metals apart as usual

[kanwar] 29/1/2021 14:42

Good luck all, I'm out.

[imastu pidgitaswell] 29/1/2021 14:19

Lousy? How very dare you...

The narrative very quickly came out that they were 'sub-optimal' - they really weren't, it's a spin for a nefarious purposes, as the pending rip up will show. Just as soon as I say I have sold out...

[sotolo] 29/1/2021 14:15

First Majestic is small and most purely silver so most geared and a little buying moves it fast
Fres tumbled on recent lousy figures so dented confidence but will come back as they all do
Hoc has suffered from lower production and the chairman selling 12% but now coming out of that cloud

[misterbluesky] 29/1/2021 13:49

McEwen Mining: Progress Update
January 29, 2021

Argentina

The San José mine, which is operated by our joint venture partner Hochschild Mining, has resumed production after being temporarily closed during Q4 2020 due to government-imposed quarantine measures. The mine performed well in 2020 despite interruptions due to COVID-19 issues. We are pleased to report that we have just received our first dividend for the year from our 49% interest in the San José mine.

On January 20th, Hochschild released encouraging exploration drilling results from San José including: 1.3 m @ 13.8 g/t Au and 3,149 g/t Ag (SJD-2188, Ramal HVNX vein), and 1.6 m @ 5.6 g/t Au and 648 g/t Ag (SJD-2210, Isabel vein).

[imastu pidgitaswell] 29/1/2021 13:12

It's because I own quite a lot of the latter 2 but very few of HOC...

😫

(FRES is the world's largest silver miner, but actually more of its total income comes from gold mining - for the moment anyway)

[farrugia] 29/1/2021 12:44

So Fresnillo is the largest silver producer
and HOC is the third largest right?
so how does first majestic compare to fresnillo? Why is moving so much compared to us? Is it just because they're based in the USA and they're caught in the frenzy? Or are they the biggest silver miner or what?

And the key question why has HOC moved so much yet Fresnillo and Polymetal are lagging?

[sotolo] 29/1/2021 12:41

Fres and Hoc are the first and third largest primary silver producers, however both are now gold miners with silver as well partly because of the higher gold/silver ratio; first majestic is a silver miner with gold.

[farrugia] 29/1/2021 12:32

is Fresnillo the world's largest silver miner??

[imastu pidgitaswell] 29/1/2021 12:20

Erm, Fresnillo? The world's largest silver miner?

[farrugia] 29/1/2021 12:19

are there any other notable silver miners like Hochschild apart from First Majestic?

[xcap1] 29/1/2021 12:01

240 looking a distinct possibility, today/Monday

[djb3] 29/1/2021 10:09

Yeah 240 I reckon. Gutted last time bought in less than 200 was waiting for it to hit at least 240, but started falling around 232 hopefully it get there this time around.