Tag Archives: First Majestic silver

The Short-Sell Report On First Majestic Silver Is Fraudulent

Financial Markets, Gold, Market Manipulation, Precious Metals, , , , ,

In my last issue of the Mining Stock Journal (Sept 15), I featured trading opportunities in three large-cap mining stocks plus I explained why a recent buy recommendation from the National Inflation Association was a nothing more than a pump-n-dump operation.

Although the sell-off in AG stock was attributed to a highly negative report issued by Kerrisdale Capital, the truth is that the recent price correction in AG is a function of AG revising its full-year production outlook lower plus the correction in the overall sector. In fact, the short report issued by Kerrisdale – headed by a sleazy financial operator who was recently busted for a DUI and cocaine possession – was nothing more than a fraud-filled hit-job:

I noticed several problematic errors in his analysis. In fact, Adrange’s thesis and conclusion is an analytic disaster. I don’t know whether or not this guy has any experience with mining stock analysis but it was clear to me that he does not know what he is doing in this sector. Perhaps the most glaring error – in fact I have to wonder if it was intentional for the purposes of supporting his thesis – is that in valuing AG vs. other miners based on resources, he only uses measured & indicated resources. This is outright incompetence or fraud, or both. – Mining Stock Journal, September 15, 2016.

I further lay out the case for why the current sell-off in AG stock is a great buying opportunity plus I recommend two other large-cap stocks (note: the Mining Stock Journal primarily focuses on relatively unknown junior exploration companies).

The NIA recently was promoting a junior mining stock with which I was not familiar. I did some research on it and had discovered that the NIA had been promoting it. The basis for the “strong buy” was entirely incorrect data presented. In fact, the assertions and data presented were either a product of unintentional incompetence or intentional misrepresentation.  I explain in my analysis:

The bottom line with the NIA report is that is almost entirely inaccurate and full of hyperbole. It’s clearly a report that was designed to facilitate a pump and dump operation. If you own this stock, take advantage of the recent move in the stock triggered by the NIA, and fueled by stock-trading chat board childishness, and unload your shares. I don’t want to assert that this company is a sham, but if it has any intrinsic value, it’s far below 10 cents/share.

In the next issue of MSJ, I’ll be featuring a little-known silver exploration company trading well below $1 that, in the words of the CEO, will eventually be $10-15 stock (Canadian $’s). After reviewing the story with CEO yesterday, I’m amazed that this stock receives almost no attention, even on trading chat-boards. You can access MSJ with this link, which includes receiving all the back-issues (via email):  Mining Stock Journal Subscription.

India’s Silver Imports Up Almost 200% In March

Financial Markets, Market Manipulation, Precious Metals, ,

India’s silver bar imports jumped by nearly 200% in March according to data published by India’s Gems and Jewelry Export Promotion Council – LINK.  On a trailing twelve month basis (April 2016 – March 2016), India’s silver imports jumped 33% over same period a year earlier.

John Brimelow (Brimelow’s Gold Jottings) commented in his early a.m. report that:  “This suggests silver fabrication may have continued during the jeweler’s strike. Silver is not subject to the disputed duty. Silver was also almost unprecedentedly cheap compared to gold in March.”

Silver is poised to explode higher in price, which is why the bullion banks have printed a record number of paper silver Comex contracts with which to throw at the market.  It’s my view that this market intervention scheme, which has sustained for over three decades, is on the verge of failing.

Global silver production declined in 2015, with silver production in Mexico down 6%. Mexico produces 31% of the global mine silver supply,  The Daily Coin interviewed First Majestic’s Keith Neumeyer, who explains why silver is more rare than the market understands – you can access that interview here:  Daily Coin / Keith Neumeyer