Opinions
Benj Gallander
Apogee Minerals
APE-X
COMMENT
Feb 20, 2013
$0.065
Stock price when the opinion was issued
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They don’t have a silver mine yet but they have a very attractive resource, quite risky, in Bolivia. They are in business with the state owned mining companies which helps mitigate the political risk a little. Feels that silver is going to bounce back. Stock got very cheap when a big owner had to dump a lot of stock when his fund was being redeemed. Speculative buy so you have to be ready to lose your money as they are not making any money and are going to have to raise more cash.
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Exploring in Bolivia and Chile. Companies like this are not very interesting to him. In 2008, there were 60 million shares and currently there are about 300 million. He would wonder if there might be a stock consolidation at some point. Finally got some revenues of about $600,000 from their Bolivian operations but he wonders how sustainable this is. A lot of risks associated with this.