Early this morning, silver blew through $17.89 (Liberty, Fraternity, oh never mind.) The French Revolution and the Reign of Terror were in the rear view mirror as silver surged past $18 into the nineteenth century. It was just last month I was talking about the Spanish Armada, and here we are in the Napoleonic Wars. How time flies when you're making lots of money.
One stock that didn't make money today was my bellweather, Silver Standard. It fell a couple of points on 2.6 million shares traded, very heavy volume. It appears the verdict is still out on the proposed convertible bond offering.
Another company that should be reporting news soon (always next week, it seem) is Eastmain Resources (EANRF or ER.TO in Canada.) This one isn't on my list of recommendations, but it is in my portfolio, big time. The core samples they sent to the lab a couple of months ago had dozens of veins of visible gold, and the assays should be out soon. The stock was around 70-75 cents then, and they did a placement of 100K shares at $1, all of which was taken by officers and directors of the company, at a hefty premium above the share price. The president himself bought 50K shares. If they have that much confidence, so do I.
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