ICH breakout with a target at 8$ for this pattern, also the 500 fib.

The company posts a rather positive news release ( https://finance.yahoo.com/news/americas-silver-corporation-provides-third-200000437.html ) and gets taken to the wood shed. Seems the transition to San Rafael is on track on budget and fully financed with commercial production scheduled by end of year. This is probably a buy the dip moment for this company, possibly needing to wait out a couple quarters for the full impact of the recent company improvements.

The company posts a rather positive news release ( https://finance.yahoo.com/news/americas-silver-corporation-provides-third-200000437.html ) and gets taken to the wood shed. Seems the transition to San Rafael is on track on budget and fully financed with commercial production scheduled by end of year. This is probably a buy the dip moment for this company, possibly needing to wait out a couple quarters for the full impact of the recent company improvements.

As usual, there seems no reason to the sell off except to buy other opportunities.

I made an exit on my USA position.  Sold what i had left today at 5.20 cad,  now 4.90s ...

One comment i found on Stockhouse seemed to sum up things pretty good imo. Im waiting for this dip to settle out before I buy back in.  Here is the quote from stock house:


Sell Galena
I would like to see Americas Silver sell Galena and focus on their Mexican operations. They could fast track their new San Felipe mine and perhaps make another acquisition. Galena has been a major cash eater for many years and is eating cash away from the Mexican operations. USA will have a loss in quarter 3 due to the high AISC at Galena. We keep hearing about AISC coming down at Galena in the future and it just keeps getting worse. It is an albatross around the neck of USA shareholders. For years we have heard of the "great potential" for mining silver/copper at Galena if silver gets to $25. Well, guess what? Silver isn't getting to $25 any time soon. In the  meantime do we want this loser of a mine draining our cash in hopes that some day it might make money if silver ever gets back to $25? Other silver miners are making a profit now with silver at $17 and Galena is losing money. Its time to dump this piece of junk and change the name of the company to Americas Metals."

Dumped mine last week

USAS loses 2.8 million for the quarter, but very upbeat for the coming year with San Rafael on line and commercial production to be declared before the end of the year. Interesting release was on SA but not yet posted on company website. Here is a Yahoo link to the article

https://finance.yahoo.com/news/americas-silver-corporation-reports-third-214900533.html

Note to John Galt, they mention Galena as dragging down results twice at least.

im back in at 3.73 from a little while ago

im back in at 3.73 from a little while ago

Just an outlook. Right now I'd say it looks good for a couple days. What exactly happens can't be said, but if USAS follows the same "Hard Sell" that we see a lot of, then the lower 3's is very real in a few days. GL.

This will be a winner when/if silver gets a move on.