Apogee Minerals APE
The Bolivian Government announced yesterday they were nationalizing oil and gas and the VP said there would be higher taxes for miners.
Bolivia is the poorest country in South America. They are creating a tighter control to make some money off their natural resources. This was known ahead of time about oil and gas. But as to mining, there was no word as to higher taxes until yesterday. This news is positive for silver but Bolivian silver stocks may not perform as well with an impending threat of higher taxes as the silver price soars.
Apogee was my #3 pick. Today I take Apogee off my list. I learned a lesson today. In a silver bull market there is no need to gamble on unstable political situations when there is already so many stable silver plays out there. Apogee may do quite well and the risk reward is definitely higher then most but I think this Government threat will hang over this one for quite awhile until we see some stability happening down there.
