An interesting article came across the wires today, and if you are "invested" in precious metals mining companies pay very close ATTENTION!
Well, yes it is rather frightening if you own stock in silver mining companies.
The largest silver mining country in the World did something that is very noteworthy today.
First, do any of you know who the number one country in the world is for mining silver?
WRONG!!!!!!!
The correct answer is MEXICO!
The Mexican government said a little word that should strike TERROR into the hearts of every silver mining investor.
Now the Mexican government DID NOT "Nationalize" all the silver mines, just yet. The Mexicans did NATIONALIZE all the lithium mines in the country as REUTERS reports below.
Deeper in the article the Mexican Government promised to review ALL mining contracts!
So to be forewarned is to be forearmed!
Many of your favorite mining companies operate mines in Mexico. Due diligence is required to determine what would happen to the value of the shares if Mexico reviewed the contract and decided to Nationalize their silver mines.
So the lesson is, while paper shares are fun to trade, buy, sell or hold, this is no replacement for the physical silver in your own possession.
Peace out and Stack On!