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Apogee Silver - Near Term Double

I just analyzed Apogee silver. Their market cap has recently crashed, and their fully diluted market cap is down to $26 million. Yet they begin silver production in Q4 2013 at 2 million oz, with cash flow estimated to be almost double their current market cap. I don't see any debt on their balance sheet. If they trade at 2x cash flow, that is $80 million / $26 million = 200% return. Thus, there is an excellent chance for a short term 2 bagger.

What’s the catch? Why is it so cheap? The mine is in Bolivia. But if you are only betting on a 1 yr investment, the risk might be worth it.

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