Hi Ho "SILVER"

[Skol]

Not yet but we our close to a deal on our Qtn property ...likely invest round 10% of the profit from the sale into bullion should get me another 1000oz

Queenstown? You need to be in AKL, everyone's making millions doing nothing.

[BFG]

Like Quinn & Ben on "The Block NZ", which built a house over the coarse of 3 months and ended up with $10K in pocket for their efforts?

2 people x 100 hrs/wk x 13 weeks = 2600 hrs.

$10K / 2600 hours = $3.85 per hour per person.

Isn't that a wee bit below minimum wage?

Lol amen. Don't tell the die hard "we adore real estate" Kiwi public though. Wonder how many of them realise they're only rich on paper and that unless they sell and move outside the bubble areas they are caught in a never ending loop of higher prices without actually banking any gains?

Irrational exuberance? Check (shown by Auckland CC website crashing for DAYS on end).

Society full of ques that owning a house is the only "rational" thing to do and anyone who says otherwise is stupid? Check.

Everyone willing to load up to the gunwales in debt? Check.

Just waiting for articles like "Burning Up" from 2000 or those warning of sublprime debt in 2007 to frighten the herd and cause an implosion...

[JBmurc]

Queenstown? You need to be in AKL, everyone's making millions doing nothing.

I'll be happy enough with a 200k profit ....and access to the large amount of capital that was tied up..

most likely build again....but this time without a loan..

As for auckland ....it's only a matter of time before that bubble bursts

[Skol]

I'll be happy enough with a 200k profit ....

I'll be making $100 profit off you at year's end, I hope you've budgeted for that.

[JBmurc]

I'll be making $100 profit off you at year's end, I hope you've budgeted for that.

silver up 4% overnight....still a few more days to run ...but yes $100 won't break the bank

[Skol]

silver up 4% overnight....still a few more days to run ...but yes $100 won't break the bank

Gold/silver/oil are somewhat correlated, this won't be good for precious metals. Western countries could benefit hugely from this plunge, spurring on the DJIA and other stockmarkets. Hope so, can't wait for begging letters in the mail from the OPEC gougers.


http://www.ft.com/intl/cms/s/0/c32cc...#axzz3J6e0yrMP

[BFG]

Silver down over 10% in opening trading in Asia today.

[Skol]

Ya backin' the truck up JB?

[JBmurc]

Ya backin' the truck up JB?

Not till the house funds come in .....will certainly be loading up in ASX resource stock just pure crazy .....for one the AUD gold price is $1450oz etc ....back when gold was on the uptrend along with AUD/USD 1450 was a record price ....I think on the spike AUD gold got to 1700oz etc ....now throw into that picture

#1-Oil is much lower so diesel costs of the ASX producers is much better than on the way up 1400oz+ etc

#2- Value SP of ASX gold producers ..even though they are going be making more profit than 3yrs ago their share prices are like 5% to 20% of what they once were like RMS $1+ now 4.7c .....

[JBmurc]

Coeur Mining Reports 4Q Loss On Impairment Charge
By Kitco News
Wednesday February 18, 2015 5:17 PM
(Kitco News) - Coeur Mining Inc. (NYSE:CDE) reported a net loss of $1.079 billion in the fourth quarter, or $10.53 per share, largely due to an after-tax non-cash impairment charge of $1.022 billion.
The company said the impairment stems from a reduction in asset carrying values due to lower silver and gold prices. Coeur's adjusted net loss in the fourth quarter was $37.5 million, or $0.37 per share.
Fourth quarter revenue totaled $140.6 million, with adjusted EBITDA of $7.8 million. Adjusted costs applicable to sales per silver equivalent ounce were $14.43, and adjusted all-in sustaining costs were $19.25 per silver equivalent ounce, the company said.
Full-year revenue was $635.7 million, with adjusted EBITDA of $86.7 million, adjusted costs applicable to sales per silver equivalent ounce of $14.18, and adjusted all-in sustaining costs of $19.27 per silver equivalent ounce, they said.
Silver production in the fourth quarter totaled 4.3 million ounces and gold production was 64,534 ounces, or 8.2 million silver equivalent ounces. Adjusted all-in sustaining costs were $19.25 per silver equivalent ounce.
Full-year silver equivalent production totaled 32.2 million ounces, hitting the high-end of company guidance. Silver production was 17.2 million ounces, in-line with company guidance while gold production of 249,384 ounces, exceeded guidance. Adjusted all-in sustaining costs were $19.27 per silver equivalent ounce, they said.
"Despite the challenges confronted in 2014, we largely achieved these objectives,” said Mitchell J. Krebs, president and chief executive officer of Coeur. “I believe Coeur is well-positioned to successfully execute our strategy to reposition our existing assets to achieve higher grades, better efficiencies, and lower costs, while maintaining a liquid balance sheet with a long-term capital structure.”
Prior to Coeur’s earnings release, the company reported updated reserves, with a focus on high-grade ounces. Proven and probable silver reserves increased 10% to 280.5 million ounces while proven and probable gold reserves decreased 15% to 1.8 million ounces
Both measured and indicated silver and gold resources decreased 45% to 210.7 million ounces and .4 million ounces respectively. Inferred silver resources decreased 36% to 61.8 million ounces while inferred gold resources increased 3% to 1.1 million ounces, the company said.