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Ewt nice no one is saying its logical that its affected by slv price but to me when slv volume is high we see more volume in ufo if I can be bothered tonight I may look at the correlation . I bet it you filtered the slv data to look at days it moved upper quartile or 1SD volume then matched those dates with UFO you would get higher than 0.4 . I think on days when slv moving ufo affected but on average 0.4
I agree with Smiller, I didn't used to think the share price had any correlation to the price of silver, however we have to bear in mind that silver is a market that follows euphoric price action, and UFO does have exposure to not only silver prospects but also a JORC resource on a silver project. We saw that on the 1st Feb for the silver squeeze, and if silver goes crazy again, I would expect a similar reaction - hopefully next time more sustained.
Also after plotting the last years price action for UFO vs SLV (not perfect, but an easy data set to extract), I received a correlation coefficient of marginally under 0.4 on daily data, and just over 0.4 on weekly data; this signifies a weak-to-moderate correlation between the price of silver and the UFO share price. Of course, there are many variables at play, that I can't be bothered to formulate into a model to isolate the interaction of silver and the UFO share price, but the numbers point to some level of correlation IMO.
"As you’ve said in the past, it’ll be 3-5 years at least before there’s any quantity of silver, so short term price changes [of silver] are completely irrelevant."
If you were to substitute that last word ARE with the phrase SHOULD BE, I'd agree with you, but it is somewhat illogical to assume that everybody else behaves logically.
Fluctuations in the silver price rapidly move the price of silver miners as they have a big effect on their monthly profits. Much as UFO aren't actually a silver miner with any profits to affect, many think of UFO in the same terms regardless. So whilst we might be partially buffered from smaller moves in silver's price our SP can still get nudged about by a lot of action in the silver market, albeit in a slightly disjointed and vague causal manner.
If the price of silver is not linked then why did this jump to 1.6 on the day of silver squeeze?
ForrestGump. A risky investment but if you research the recent history the risk/ reward is swinging to a favourable buy in my opinion.
And….as you say….a great company with good moral values.
I would like to make it clear I am not recommending it,just saying it like it is.
Mulletman. I couldn’t agree more.
Just don’t let people on here tell us that the price of silver at any given point is connected to UFO share price.
994Turbo. No need to apologise. We all make similar mistakes. Me included!
Good luck to you as well.
Chris2. You are on a roll. I have to hand it to you, investing in a company trying to improve the outcomes in bone marrow transplants is no bad thing. I might even have a dip in myself as I like the idea of making money whilst trying to improve the greater good of humanity.
ATB, FG
Chris your right sorry my maths were well out lol.
Good luck
944T
Silver is indeed down over the last week. How’s it looking over the last 12 months though?
The price of silver only matters if you’re buying or selling it though. And UFO is doing neither at the moment. As you’ve said in the past, it’ll be 3-5 years at least before there’s any quantity of silver, so short term prices changed are completely irrelevant.
How’s the iron ore price looking though? I hear UFO have a few lumps of that in the ground. I also hear it’s very likely to be easy to dig up. And quite cheap. If the price of iron ore looks good we could be onto a winner, maybe.
If you look at my previous posts you’ll see I’m not fussed about the silver. If anything it’s a distraction from the real money, but nice to have in the background.
So how’s iron looking Chris?
994Turbo. I love your maths.
I think you will find that 12 x 50 posts is a mere 600 posts if you take that as an average.
And you think you are going to make money with that sort of calculating?
What it does mean is that I will down some 2400 posts .
Quite considerable don’t you think?
Oh and no. I took my profits on Kodal just like I advised others on here to do with UFO.
If you want to watch my every move,I am “invested” in HEMO and have been for 2 weeks.
Just watching and waiting.
Chris can I say I really think you need to take a close look at yourself. You comment on here about a person posting 3000 posts in a year and say it’s not healthy. We so far this month you have posted over 50 times on UFO a stock you are not even invested in. As an average that would be one 6000 posts a year and we are not at the end of the month that’s twice as many as the person you comment on.
Nice to see you’ve invested in another company just like I said previously that you would not be able to resist if you were invested in someone.
Good luck with it hope you do better than you did here. We will see in the long run. I’m happy with what I have invested here and like others prepared to wait.
944T
Why??
Has anybody reported Chris2 yet?
But Chris2, aren't the precious metals'trend lines up? Inflation is here, and rising. Neither the Fed or the the Bank of England can raise rates - they are all talk. The future bodes well for the price of silver and us Aliens.
GLA
The market price of silver is falling
Now surely this must be really bad for UFO as we were told that it is incredibly good for UFO when it rises.
Or could that have been just idle ramping?
Surely not.