Another one of my favorite silver miners Alexco owns the Keno Hill silver mine in Canadas Yukon territories. The Keno Hill district hosts one of the richest silver deposits in all of canada. It has been host to 35 past producing mines dating back to the 1900s.
The mine has been shut down for years due to the low price of silver but Alexco plans to restart it late 2019. Nothing like having a silver mine ready to fire up as soon as the metal starts moving. This is a bet on the price of silver and the stock looks bullish AF.
Ive outlined potential pullack/ rally scenarios on the chart. AXR has pulled back to my accumulation zone recently and broke out of it friday. Good luck trading!
The mine has been shut down for years due to the low price of silver but Alexco plans to restart it late 2019. Nothing like having a silver mine ready to fire up as soon as the metal starts moving. This is a bet on the price of silver and the stock looks bullish AF.
Ive outlined potential pullack/ rally scenarios on the chart. AXR has pulled back to my accumulation zone recently and broke out of it friday. Good luck trading!
Comment:
I was a bit early with this trade... i also didnt anticipate their bought deal financing which diluted the shares but this didnt change the fundamental picture and just gave us a better opportunity to buy cheap. i still maintain an outperform buy rating on this stock.