Perhaps you have heard of the historic Sunshine Mine in Idaho's Silver Valley?
The history of this past producing silver property goes back originally to 1878-1884 producing over 360,000,000 ounces of silver since 1904. The mine has quite a history and has affected many lives in the silver valley, both good and bad.
The current owners are in bankruptcy and several companies are eager to get their hands on the prize... ownership of Sunshine Mine.
For us, the situation is kind of sentimental. I was in the Coeur d'Alene, Kellogg and Wallace Idaho area way back in August 1979 which unfortunately means I must be getting old, but only 64. Silver then was around $9 an oz. and on its way to $50, but who would have known? I have saved a brochure all these years which marks the 100th Anniversary of the Sunshine Mine from 1878 to 1978.
Two of the bidders for the mine are Alberta Star (TSX:ASX) which has recently partnered with Kootenay Gold (TSX:KTN) and Minco Silver (TSX:MSV). We encourage you to visit the links to their respective websites for more information on each company.
Bob Moriarty of 321Gold.com shares with us his recent thoughts on the bidders in his article dated January 27, 2010, Update on the Sunshine Saga.
Bob's previous article on the subject is also interesting and provides some background for interested investors:
For recent news, visit this link to the Idaho Business Review, dated March 19th,
A further perspective and history can be found in this piece on Wikipedia.com
The bankruptcy auction is scheduled for April 21, 2010 so we will not have long to wait.
Of course, we don't have a clue as to the ultimate winner of this contest, but we are more than interested observers. We believe this will be a very profitable acquisition for the winning bidder as well as from the historical perspective and thus, we have taken an investment position in both Alberta Star and Minco Silver to make sure we get a slice of the prize.
We own shares in both Alberta Star and Minco Silver.
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March 25, 2010
Dudley Pierce Baker
Dudley Pierce Baker is the owner and editor of Precious Metals Warrants and Insiders Insights. PreciousMetalsWarrants provides an online subscription database for all warrants trading on junior mining and natural resource companies in the United States and Canada and a free weekly newsletter. InsidersInsights alerts subscribers when corporate insiders of a limited number of junior mining and natural resource companies are buying and selling.
Neither PreciousMetalsWarrants.com or InsidersInsights.com is an investment advisor and any reference to specific securities does not constitute a recommendation thereof. The opinions expressed herein are the express personal opinions of Dudley Baker. Neither the information, nor the opinions expressed should be construed as a solicitation to buy any securities mentioned in this Service. Examples given are only intended to make investors aware of the potential rewards of investing in Warrants. Investors are recommended to obtain the advice of a qualified investment advisor before entering into any transactions involving stocks or Warrants.
Disclosure: We own shares in Alberta Star and Minco Silver