as prices go up I become less bullish–as they decline, I become less bearish–Sure, miners could go broke…but they have already capitulated-their prices are back at 2000 and 2008 levels-ANV from $73 to 80 cents id capitulation
ALL the miners balance sheets were heavy with debt in 2008–and any rational investment analysis would say-then-don’t buy–sometimes ya gotta take a flyer-I got 20K HL at 1.00-1,10-it went to $11+–I bought century aluminum at 2.50-2.60 –it was $73–and bottomed at about 2.30 in 2008–it had huge debt–it’s now 27—