My TOP10 picks list in (Silver & Gold) Mining companies 5/10Silver Dollar Resources Inc are a silver focused junior, project generator with four exploration properties in Canada and Mexico. They have approximately 50Moz. of silver in the reserves.
They have a market capitalisation of 10 million USD, which is a steal !
Recently (as of march 2024) the silver in the ground was valued at below 10 cents per Ounce !
That was the time when the price broke out of the broadening descending channel after 4 years of painful downward spiral ! Since then the price has been sitting on the support of the descending downward trend line (previous resistance that now acts as support).
It has been sitting there for about 4 months. Yesterday the price shot up about 35% showing that interest for the sector is coming back after Silver has cleared the important 30$ mark.
There is no need to hurry in this stock, since it will probably digest yesterdays strong move in the following days.
Not financial advice but I will probably double my position soon.
