Saturday, March 14, 2009

Bob Moriarty on Fortuna Silver. FVI.v, SLV, SLW, SSRI

Always take write ups from guys paid to do it with grain of salt, but Bob Moriarty has his name and it is interesting to follow him. His recent write up on Fortuna Silver is covering one of our potential candidate for Silver Consolidation M&A game in Mexico.

"Readers who have been around for a while may well remember my first write-up of Fortuna in September of 2005. You owe it to yourself to go back and reread the piece. I did, I had to, to figure out what I had said. It was interesting reading, I did a good job. The stock ran from about $1.04 a share to almost $4 over the next couple of years.
Fortuna got hammered last year but it has nothing to do with the caliber of the projects or the caliber of management or the price of silver. It got hammered because people had to sell anything and everything to raise money and they threw out the baby with the bath water. It got to a point in October that even with a producing mine making money, they were selling for less than the cash they had in the bank. They are still absurdly cheap. (Here we are in a full agreement S.)"
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