Having followed a great many silver mining companies, I can say that the market sentiment, with the exception of retail, is at absolute rock bottom. It doesn’t matter what kind of results companies put on the table—any news is a reason to sell the stocks. I thought SoSi might be able to live its own life here on the Scandinavian stock exchanges, but perhaps that isn’t the case. If you look at the sentiment for silver companies among retail investors, there is still hope to be seen, and, for example, the shareholding numbers for SoSi haven’t dropped much yet. We need a hard blow to the chin of the retail investors. And that hard blow is a price of $45/oz for silver. Traders still control the price of silver. And we still need to induce panic, even if by force. The stocks need better owners from the “smart money” side.
And then another thing, the production volume was weak. Even though they say the grades are rising, the market doesn’t necessarily believe it until it sees it. More ounces, period.