Coeur d'alene Mines Corporation: An Analysis

Coeur D`alene Mines Corporation (NYSE:CDE) is a very interesting silver play, which was on my list to buy. The Company’s properties are located primarily in the United States, Australia, and South America. They have 200 million ounces of silver ($US 6.6 billion) and 2.5 million ounces of gold ($US 4.3 billion) (proven and probable reserves). This translates to 60% silver and 40% gold. So Coeur D'alene Mines Corporation is essentially a silver play and that interests me because I'm bullish on silver.

Notable is that Sprott Asset Management significantly increased its position in Coeur D'alene Mines Corporation in September of 2011. On 06/30/2011, Sprott Asset Management reported holding 65,500 shares with a market value of $1,589,030. This comprised 0.21% of the total portfolio. On 09/30/2011, Sprott Asset Management reported holding 1,359,200 shares with a market value of $29,141,249. This comprised 3.65% of the total portfolio. The net change in shares for this position over the two quarters is 1,293,700. Since Sprott Asset Management bought in last year, the share price hasn't moved at all, so there is still time to buy in. Let's investigate why Sprott Asset Management has increased its position so much.

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