APEX Silver - mein Favorit

Die auf den Cayman Inseln angesiedelte Gesellschaft ist im Moment noch reiner Explorer. Wenn man nun die MK von 920 Mio USD betrachtet, könnte man meinen, etwas viel für einen für ein Unternehmen, dass noch keine Unze gefördert hat.

Es gibt aber das Projet "San Cristobal" in Bolivien. Dies ist einer der weltweit größten Silber-Zink-Blei-Vererzungen. Die Resourcen dieses Projekts enthalten ca. 470 Mio. Unzen an Silber, über 3,6 Mio. Tonnen an Zink sowie mehr als 1,3 Mio Tonnen Blei.

Weiters verfügt Apex (Kürzel: SIL) über mehr als 200 Mio USD in Cash. Würde man alle Beteiligungen und Wertpapiere miteinrechnen käme man auf 600 Mio USD.
Es ist also genug Geld vorhanden um das Projekt weiter voran zu treiben - wovon andere Explorer nur träumen können. Die Realisierung des Projekts ist somit ausreichend finanziert.
Das Straßennetz von über 250 km ist bereits fertiggestellt, die Bahnstrecke ist gerade in Bau und die Verarbeitungsanlage ist zu 75% fertiggestellt.

Im Herbst dieses Jahres wurde auch ein neuer Partner für dieses Projekt gewonnen. Sumitomo (Mischkonzern aus Fernost) mit einer MK von 16 Mrd. USD hat sich mit 35% an dem Projekt beteiligt. Sumitomo hat sich bereits bei anderen renomierten Rohstoffunternehmen wie Newmont oder Phelps Dodge eingekauft. Dieser Schritt beweist das Potenzial dieses Projekts.

Aber nun zu den interessanten Sachen:

- Die geplante Produktion der San Cristobal Mine wird mit ca. 17-20 Mio Unzen jährlich angegeben. Im Vergleich zur Penasquita-Mine (Mexiko) oder der San Bartolome-Mine in Bolivien, die beide jeweils ca. 8 Mio Unzen jährlich abbauen und derzeit zu den 2 größten Minen weltweit gehören wäre die Mine von Apex mit Abstand das größte Silberminenprojekt überhaupt.

- Sobald die Mine in Betrieb ist, wäre sie nicht nur die größte Silbermine, sondern gleichzeitig auch größte Zinkmine der Welt. Mit einem Ausstoß von ca. 190.000 Tonnen pro Jahr übertrifft sie damit sogar die Dairi-Mine in Indonesion mit ca. 120.000 Tonnen jährlich.

- Mit neuen Explorationsgebieten in Argentinien, Peru, Mexiko, Honduras und Bolivien mit zum Teil sehr guten Bohrergebnissen, scheint auch die weitere Zukunft des Unternehmes gesichert.

- Acu Superinvestor George Soros ist mit ca. 3,1% an Apex beteiligt. Alleine die Top10 halten mehr als 75% aller Aktien.

- Im Vergleich zur Peergroup die mit 3-4 USD je Silberunze bewertet ist, wird APEX mit nur 0,50 USD per Silberunze gehandelt.

- Das Minenleben nach heutigen Resourcen beträgt über 16 Jahren.


Nun noch ein kleines Rechenbeispiel das das Potenzial dieses Explorers untermauert.

Gesamt ausgewiesene Resourcen per 30.06.06
    - 467.767.300 Unzen Silber
    -   3.666.100 Tonnen Zink
    -   1.337.300 Tonnen Blei

Bei derzeitigen Marktpreisen von

 - 1 Unze Silber 12 USD
 - 1 Tonne Zink  4.200 USD
 - 1 Tonne Blei  1.590 USD

D.h. der Wert aus den Resourcen mit den derzeitigen Preisen für die zugrunde gelegten Rohstoffe würde sich ein Marktwert von

unglaublichen 23 Mrd. USD, davon 65%-Anteil wären das immerhin noch stolze 15 Mrd. USD ! Nun sind die 920 Mio. USD die vorher noch als sehr ambitioniert erschienen eigentlich nur noch Peanuts.

Nun noch eins zum Schluß, die hier angegebenen Zahlen entsprechen den Tatsachen und sind keine hochgegriffenen Vermutungen, wie bei den meisten Explorern.

Den Chart hab ich mir von nuessa geklaut - Danke.

Einzig negativ sehe ich die politische Zukunft in Bolivien. Hier hat man aber auch schon bestätigt, dass die Bergaukonzerne nichts zu befürchten haben. Außderdem ist Morales kein dummer Mensch. Er weiß genau, dass er die Minengesellschaften braucht um an die Bodenschätze zu gelangen. Kann mir eine Art Bodenschatz-Steuer vorstellen, die zwar bei den Unternehmen die Gewinne schumpfen lässt, sie aber nicht gleich enteignet.

Frühere negative News wie die Veruntreuung von ca. 1,6 Mio USd eines Mitarbeiters, sowie Aktienverkäufe des Manangements sehe ich als nicht mehr akutell an. Sollten aber immer im Hinterkopf behalten werden.

xpfuture  

die aktuellsten News hier reinstellen.


Aber ich sehe schon wenn bei einem Wert nicht

"Sichere 1000%" oder "Der geht bestimmt durch die Decke" steht interessiert sich keiner dafür.

Da macht man sich die Mühe, sucht sich Informationen aus dem Netz zusammen, stellt es hier rein - aber das interessiert wohl nicht.
Wohl lieber in eine unbekannten Explorer mit ver10fachungs-Garantie lt. Börsenblatt investieren, anstatt mal ein paar fundamentals zu checken.

xpfuture  

Apex Silver Reports on Third Quarter 2006 Results and San Cristobal Project Updates

DENVER--(BUSINESS WIRE)--Nov. 9, 2006--Apex Silver Mines Limited (AMEX: SIL) today reported net income of $72.2 million or $1.25 per share for the third quarter 2006 compared to a net loss of $12.1 million or $0.25 per share for the same 2005 period. In the third quarter of 2006, the company recorded a $119.8-million gain on the September 25, 2006 sale to Sumitomo Corporation of a 35% interest in Apex Silver's San Cristobal silver-zinc-lead project located in southwestern Bolivia. The consideration consisted of $224 million in cash plus certain deferred payments related to silver and zinc production from San Cristobal and assumption by Sumitomo of its pro-rata portion of the project financing and related hedge liabilities.

During the third quarter 2006, the company posted a $45.4-million charge for the commodity-related hedge positions. The charge, which mostly stems from the application of Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities" (FAS No. 133), requires that all derivative instruments be recorded on the balance sheet at fair value and that changes in the fair value be recorded in current earnings. At September 30, 2006, the liability associated with the derivative positions was $182.2 million.

In the first nine months of 2006, the company recorded a net loss of $50.9 million or $0.92 per share, primarily due to the mark-to-market derivative charges offset by the gain on the sale of the 35% interest in San Cristobal. The $88.4-million minority interest shown on the balance sheet reflects the share of the book value of San Cristobal owned by Sumitomo including its pro-rata portion of the hedge liabilities and project financing adjusted for the value of its future silver and zinc-related payment obligations.

At September 30, 2006, the company's aggregate cash and short and long-term investments, both restricted and unrestricted, amounted to $549.1 million. This amount included $116.3 million of cash and investments restricted to fund development of San Cristobal and outstanding corporate financial commitments. At September 30, 2006, the company had spent approximately $420 million on the project ($226 million in 2006).

Significant Advancements in the Development of San Cristobal

Significant advancements were made in the development of San Cristobal and the project is now approximately 85% complete. With major structural foundation and equipment fully installed, the primary crusher should be in position to receive ore in January 2007. The conveyor structure and idlers are in place for the 1.5-kilometer overland conveyor. With the imminent installation of the conveyor belt and the requisite electronic equipment, it should be fully operational by 2007.

Concentrator construction is advancing at a rapid pace. The wraparound motors are complete on all three mills and liners are being placed in the Semi-Autogenous Grinding (SAG) and two ball mills. All the cyclones, flotation cells, concentrate thickeners and filters have also been installed. The major thrust of the future activity at the concentrator will be centered on the installation of process piping and electrical and instrumentation equipment.

Electrical substations at both San Cristobal and Punutuma have been completed and there should be access to the power grid by the end of 2006; the 10-kilometer tailings line has been routed and piping and booster pumping stations for the 15-kilometer water supply system have been built; the railroad spur is well advanced with laying of the rail now underway; the superstructure on the concentrate loading facility has been installed, and construction of the Mejillones port facility is proceeding as planned.

Mining activities are advancing to provide ore feed by the time the concentrator is fully operational. Two new CAT 789 200-tonne haulage trucks are in service and approximately 15.1 million tonnes of material have been moved. Eight more 200-tonne trucks, two PC 4000 Komatsu shovels and a CAT 994 loader are scheduled for delivery in late 2006 and early 2007. The project remains on schedule to commence operations in the third quarter of 2007.

San Cristobal Operating Plan Update

The company has concluded an update to its operating and capital cost projections for San Cristobal, including a definitive cost to complete the project. In the first five years of operation, based on designed 40,000-tonne per day ore throughput, San Cristobal is expected to produce approximately 16.9 million ounces of payable silver (at an average cash cost of $1.97 per ounce), 225,000 tonnes of payable zinc (at an average cash cost of $0.51 per pound) and 82,000 tonnes of payable lead (lead is credited as a by product to silver production costs). During the projected 16 year mine life, San Cristobal is expected to produce annually approximately 15.7 million ounces of payable silver, 166,000 tonnes of payable zinc and 59,000 tonnes of payable lead.

Recent pre-stripping activity has provided additional information regarding the boundary between the surface silver-rich oxide ore stockpiled for future treatment and the sulfide ore earmarked for processing through the San Cristobal concentrator. The amount of oxide ore has increased and feasibility work is underway to evaluate the expansion of silver production using alternative methods of processing it early in the mine life of San Cristobal. Results of the studies should be available in mid-2007. In the meantime, the company expects to incur an additional $23 million in costs associated with the increased stockpiling of these ores prior to the startup.

The company also expects to spend approximately $15 million in additional capital and has allocated about $9 million in additional contingency bringing the revised total capital cost estimate to about $650 million (compared to the original estimate of approximately $600 million). As previously indicated, this estimate excludes working capital and advancements related to construction of the power line, port and working capital which should total approximately $70 million.

"In today's robust pricing environment for all commodities, we applaud our employees and contractors for their cost containment efforts in keeping the San Cristobal project on schedule and, excluding the effect of stockpiling of additional amounts of silver-rich oxide ores, within a remarkable four percent of the original capital estimate prepared in 2004," said Jeffrey G. Clevenger, Apex Silver's President and Chief Executive Officer.

Apex Silver is a mining exploration and development company. Its 65%-owned San Cristobal project is the world's largest development in silver and zinc. The Ordinary shares of Apex Silver trade on the American Stock Exchange under the symbol "SIL."

This press release contains forward-looking statements regarding the company, within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including statements regarding the expectation of the capital cost of the San Cristobal project, the future rates and cost of production of silver, zinc and lead and commencement of operations in the third quarter of 2007. Actual results relating to any and all of these subjects may differ materially from those presented. Factors that could cause results to differ materially include fluctuations in silver, zinc and lead prices, problems or delays in construction and startup, variations in ore grade and processing rates, problems in emerging financial markets and political unrest and uncertainty in Bolivia. The company assumes no obligation to update this information. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements can be found in the company's Form 10-K filed with the SEC for the year ended December 31, 2005.

                     APEX SILVER MINES LIMITED
                   Summary Financial Information
 (In thousands of United States dollars, except for shares and per
                             share data)
                            (Unaudited)

                        Three Months Ended       Nine Months Ended
                        Sept. 30,   Sept. 30,   Sept. 30,  Sept. 30,
                             2006        2005        2006        2005
Income and expenses
 Interest and other
  income                  $4,469      $5,700     $12,637     $12,743
 Gain on sale of
  interest in
  subsidiary             119,800           -     119,800           -
 Gain on
  extinguishment of
  debt                         -           -       2,875           -
 Trading gains
  (losses) -
  commodities            (45,432)     (9,640)   (165,487)     (7,584)
 Trading gains
  (losses) - foreign
  currency                   203         474         439        (810)
 Exploration expense      (2,155)     (1,097)     (5,162)     (3,858)
 Other operating
  expense                   (134)          -        (276)          -
 Administrative
  expense                 (4,123)     (4,814)    (15,122)    (13,660)
 Interest expense &
  other borrowing
  costs                        -      (2,639)       (774)     (6,501)
 Amortization and
  depreciation              (100)        (81)       (296)       (114)
                      ----------- ----------- ----------- -----------
    Gain (loss)
     before minority
     interest             72,528     (12,097)    (51,366)    (19,784)
 Income tax expense          (54)          -        (161)          -
 Minority interest           257           1         250          12
                      ----------- ----------- ----------- -----------
    Net gain (loss)      $72,731    $(12,096)   $(51,277)   $(19,772)
 Other comprehensive
  income (loss)             (560)         30         403        (127)
                      ----------- ----------- ----------- -----------
    Comprehensive
     income (loss)       $72,171    $(12,066)   $(50,874)   $(19,899)
                      =========== =========== =========== ===========

Net income (loss) per
Ordinary Share -
basic                      $1.25      $(0.25)     $(0.92)     $(0.41)
                      =========== =========== =========== ===========
Net income (loss) per
Ordinary Share -
diluted                    $1.23      $(0.25)     $(0.92)     $(0.41)
                      =========== =========== =========== ===========
Weighted average
Ordinary Shares basic 58,417,387  48,781,621  55,816,488  48,047,071
                      =========== =========== =========== ===========
Weighted average
Ordinary Shares
diluted               58,989,561  48,781,621  55,816,488  48,047,071
                      =========== =========== =========== ===========

                                        September 30,    December 31,
SUMMARY BALANCE SHEET DATA                        2006            2005
                                       --------------  --------------
in thousands of U.S. dollars               (Unaudited)
                                       ==============

Cash & cash equivalents                      $138,097          $4,808
Restricted cash                                15,172         135,182
Short-term investments                        290,743         132,000
Restricted investments                        101,133          67,491
Other current assets                           16,012           5,824
                                       --------------  --------------
Total current assets                          561,157         345,305

Property, plant and equipment (net)           583,168         379,138
Ore inventories                                16,498               -
Deferred financing costs                       19,988          21,604
Value added tax recoverable                    45,537          20,052
Restricted investments                          4,000          12,392
Other assets                                    2,109           2,020
                                       --------------  --------------
Total assets                               $1,232,457        $780,511
                                       ==============  ==============

Accounts payable and accrued current
liabilities                                   66,048          74,487
Accrued interest payable                          799           3,096
Derivatives                                    14,101           5,652
Current portion of long-term debt               2,993           2,270
                                       --------------  --------------
Total current liabilities                      83,941          85,505

Long-term debt                                434,117         320,021
Derivatives                                   168,140          50,621
Asset retirement obligation                     5,394           2,003
Other long-term liabilities                     1,400               -
                                       --------------  --------------
Total liabilities                             692,992         458,150

Minority interest in subsidiaries              88,403              34
Shareholders' equity                          451,062         322,327
                                       --------------  --------------
Total liabilities & shareholders'
equity                                    $1,232,457        $780,511
                                       ==============  ==============

CONTACT: Apex Silver Mines Corporation
Igor Levental, 303-764-9162
Vice President Investor Relations and
Corporate Development

SOURCE: Apex Silver Mines Limited
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Apex Silver Mines Limited's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.


gruß,
mike  

Hatte gestern ein paar Probleme mit meinem PC und musste ne Systemwiederherstellung durchführen, da wurde glatt der Apex Chart mit vernichtet!

Schaut ja sehr bullish aus 18 ist jetzt die entscheidene Marke entweder sie topt und macht nen kleinen Rücksetzer den man kaufen sollte und geht drüber oder was mir lieber wäre sie geht direkt drüber und man kauft den Backtest! Die Indis sind kurzfr. ganz schön heiß also Vorsicht lieber an den Marken handeln!!

PS: Fundamentals hab ich keinen Plan bei diesem Unternehmen aber das macht ja XPfuture :)

greetz nuessa

 

Silver Mining Open End Zertifikat
NL0000724516 / AA0BT6

Factsheet:
http://www.abnamromarkets.com/pdf/NL0000724516/...emode=none&zoom=100

auch APEX ist hier mit über 7% gewichtet.

Nur sollte man noch auf eine quanto-Variante warten

xpfuture  

by Dutton Associates

EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Dutton Associates updates its coverage of Apex Silver Mines Ltd. (AMEX:SIL - News). The 15-page report by Dutton Associates senior analyst Mike Niehauser is available at www.jmdutton.comas well as from First Call, Bloomberg, Zacks, Reuters, and Knobias and other leading financial portals. Apex Silver is nearing completion of the world's largest silver and zinc mine currently under construction. This is the San Cristobal project in southwestern Bolivia. While the project is coming on line during a period of record metal prices, the project is impacted by political uncertainty in Bolivia. Despite the political cloud, Apex's project construction continues unimpeded. In addition, a recent investment by Sumitomo Corporation, an experienced international conglomerate, is a good indication of confidence from the international community in both the San Cristobal project and the future of Bolivia.
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About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 28 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The current cost of enrollment in our one-year continuing research program is US $39,500 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $33,000 from the Company for 4 Research Reports with coverage commencing on 11/8/05. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.

xpfuture  

http://www.jmdutton.com/research/sil/reports/sil_report_112806.pdf

xpfuture  

hier kann man jetzt einsammeln gehen mit KZ 18. 15,80 sollten nicht mehr unterschritten werden per Closing!

greetz nuessa

 

greetz nuessa

 

da ging´s nochmal tiefer als erwartet, Xpfuture hat sich an der fundamentalen Situation irgendetwas geändert, kamen schlechte News? Andernfalls werde ich hier eine Position aufbauen...

greetz nuessa

 

Einzig was ich bis jetzt noch rausgefunden hab, dass APEX hohe Vorwärtsverkäufe getätigt hat.

Könnte natürlich auch mit dem Umfeld in Bolivien zusammenhängen, da dort die nächsten politischen Schritte sehr unklar sind.

xpfuture

P.S. Alternativ könnte man auch in Sumitomo einsteigen (die hab ich übringes auf meiner Watch)  

Wann einsteigen?  

positive Test der unteren Aufwärtstrendlinie um Bereich um 14,50. Danach kanns wieder bergauf geh´n. Erstes KZ wohl wieder der Bereich um 17,50-18,00. Alles darüber wäre als sehr bullisch zu betrachten und ein absoluter Kauf.

xpfuture  

ja, jetzt schaut sie wieder gut aus, die Ausdehnung in den Indikatoren lässt auch mehr erwarten!

greetz nuessa

 

wieder Richtung 17,50.

xpfuture  

 

Allerdings sollten auf diesem Niveau locker ein paar % drin sein.

xpfuture  

kann man jetzt kaufen mit sehr engen SL bei 15,80, alternativ bei 14,90 je nach Risikoprofil, die Chance sollte allerdings klar positiv sein ... Oben wartet ein Zwischenziel bei 18

greetz nuessa

 

ich bin halt jetzt mal rein.  

Bolivia plans to raise the taxes paid by mining companies six-fold in a shake-up of the industry set to be announced in the coming weeks, a newspaper reported on Sunday, citing the country's mining minister.

Mining Minister Guillermo Dalence was quoted as telling the daily La Razon that the leftist government of President Evo Morales had received $45 million in tax revenue on mining exports of $1 billion in 2006.

"That's a ludicrous amount taking into account that these are not renewable resources. If in 2007 we were to export $1 billion worth of minerals again, the state should receive at least $300 million," Dalence was quoted as saying.

That would represent an increase of more than 600 percent on the mining industry tax take he described for 2006.

xpfuture

 

Mist. Na gut. Mein neuester Depotneuzugang lautet Southern Silver.  

Aktien wieder zurück.  

ins Depot gelegt. Gestern +20% bei den Amis!!

xpfuture  

habt ihr schon die deutsche Seite für Apex Silver Mines gesehen, sie ist gut übersichtlich und man bekommt einen Eindruck davon:

http://apexsilver.de
 

Apex Silver Announces Second Quarter Earnings Conference Call

DENVER, CO, Jul 29, 2008 (MARKET WIRE via COMTEX) -- Apex Silver Mines Limited  (SIL:
apex silver mines ltd ord) will report its second quarter 2008 financial results on Tuesday, August 12, 2008, before the American Stock Exchange opens for trading. A conference call and live webcast have been scheduled for the same day at 10 a.m. Eastern time.

The call will be hosted by Jeffrey Clevenger, President and Chief Executive Officer, joined by other members of the Apex management team.
Apex Silver is a mining, exploration and development company. The ordinary shares of Apex Silver trade on the American Stock Exchange under the symbol "SIL."

CONTACT:
Apex Silver Mines Corporation
Jerry W. Danni
Senior Vice President, Corporate Affairs
(303) 839-5060

SOURCE: Apex Silver Mines Limited