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Message: Taylor refreshes buy of Silvercrest Mines
Jay Taylor, in the June 17, 2014, edition of Gold, Energy & Tech Stocks, refreshes his buy of Silvercrest Mines Inc., recently $1.85. Mr. Taylor said buy twice -- on Feb. 19, 2010, at 90 cents and on Nov. 12, 2010, at $1.59. He then said sell on Feb. 14, 2011, at $1.94. Assuming a $1,000 investment for each of the two buys, selling the $2,000 position at $1.94 yielded a profit of $1,343. Mr. Taylor said buy again on Jan. 16, 2014, at $1.83. Assuming a $1,000 investment for the new buy, the position is now worth $1,010. Mr. Taylor says Silvercrest is doing very well as a silver and gold producer in Mexico. It recently commissioned a mill to augment existing heap leach operations which have been able to recover only about 35 per cent of silver mined. Mr. Taylor notes that approximately $150-million worth of silver remain on the leach pads. Management plans to run that silver through the mill to recover up to 85 per cent. With less than 119 million shares outstanding, says the editor, the additional low-cost silver recovery should boost per-share profits significantly. Assuming a turnaround in precious metals prices during the second half of 2014, now may be the opportune time to buy Silvercrest, he says.
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