Pan American Silver

Pan American is a major silver producer–not my usual speculation. There’s nothing wrong with the company, nor with owning a major silver producer if you’re as bullish on silver as I am. But I usually look for smaller companies with more explosive upside. I made an exception in this case because the company’s long-stalled Nevidad mega-project might have finally begun moving ahead, and that would have “moved the dial,” even for a company this large. But that doesn’t seem to be in the cards anytime soon now, so I recovered my cash and redeployed it into something with more visibly imminent upside.