ball mill starts saturday!, page-14

I just paid for my rights issue via B Pay.

I wasn't initially going to exercise them however over the past few weeks I changed my mind.

My major concern was that I think the price of silver is going lower before going higher.
I read Martin Armstrong and he writes that silver could go as low as US$17 in 2013/2014 before heading back to test the all time high and break through it.

He also writes that the US$ is heading to all time highs, even higher than 1985.

So I have done some calculations based upon Martin Armstrongs worst case expectations buying physical silver from the Perth mint.

1 Kilo Perth Mint Silver priced at US$17 reflected in AU$ extrapolated from the current Perth Mint price and spread.
AU$/US$
0.90 AU$616.00
0.80 AU$634.95
0.70 AU$701.70
0.60 AU$744.26
0.50 AU$765.00

So I think, I want to buy at the lowest possible price I can over the next year or so.
One of my concerns is that there is no available bullion at the Perth Mint at present, will this continue to be the situation as time and price progresses.

So I think, I have these rights issues that are extremly cheap compared to where they were a year ago,I traded some a year ago when they were 0.70 and I thought they were cheap then and the price of silver was only US$31 or so.
The price of silver now is US$22.50 and the sp is 0.57 less.
The sp cant drop another 0.57 and with the latest hedges put in place 900000 ounces at AU$24 and 500000 ounces at AU$29 the company will survive the price of silver dropping to US$17 for short periods especially given that if the price of silver does drop that low the AU$ / US$ conversion should be favourable to the AU$silver price.
Also the company could possibly take advantage of the hedges, especially the AU$29 and refinance again possibly getting rid of the bank debt altogether.

Then on Friday CCU announce that the ball mill we be switched on,on Saturday. We should have some announcements very soon with the output.
If they are favourable as expected we could see a rerating of the sp in a matter of days or weeks.
I have based my assumptions upon Martin Armstrongs worst case proposals, he is considered one of the biggest short term bears in the precious metals market so it is most likely the worst case scenerio and also not everyone follows or believes him, when he is wrong he just says those are the markets, and shrugs it off,also the stock market is not like the spot market, prices are based upon future earnings and future expectations and punters are always trying to pick the turning point that will lead to future better times, is the ball mill being started,the capital raising done, the CBA and Magna support in a very sick metals market and the share price sitting at such a low of 0.135 the catylyst for a turning point?

Has everyone that is going to sell already done so, I don't know the answer to that one but I know that I was not going to take up these rights and based upon all of the above I changed my mind and became a buyer.