Silver Miners . . . . . .

Most silver is produced primarily as a by-product of base metal mining.
There are not a lot of "pure" silver miners.
Sean Rakhimov at "Silver Stategies" also suggests that the "investible" universe of silver miners is shrinking due to jurisdiction issues.
Silver as a metal shows extremely volatile price activity and there are many views that the market is manipulated, from the far out to usually more sober traders, e.g. Jesse Crossroads Cafe.

For those excited by Silver it is worth considering this chart which compares Silver against Nasdaq bubble.

A List Of Silver Stocks at Mining Feeds - smaller companies activities may be mixed

Silver Miners / Explorers and Developers - see Silver Strategies - some outdated profiles. Nice page tracking price changes between a date range

"Peerless Silver Producers" - An excellent Review by Metal Augmentor

Midas Letter James West Company List - Promotional ?

Chris Marchese at Gold Report

Chris Thompson - Haywood Securities at Gold Report May-2012 - Discusses wide range of companies

A seeking Alpha article

The Big Silver Miners

  • Fresnillo (FRES.L)- London listed. Family majority owned. Paid significant dividends.
  • Silver Wheaton (SLW) - silver streaming company - funded companies during mine development, typically for other metals by offering upfront cash for rights to silver by-product at prices around $4/oz.
    • Some questions around the tax issues they will have in repatriating profits ?

  • Pan American Silver (PAAS) - Ross Beatty - Bid for Minefinders. Also large Navidad deposit in Argentina, country risks.
  • Hochschild (HOC.L)
    • Large family stake, Peru base, other Lat Am operations.
    • Recent bid for Andina gold
  • Couer D'Alene (CDE / CDM.TO) - seems cheap, done a lot of mine developement
  • Silver Standard (SSRI/SSO.TO) - In production - recent downgrade on Pirquitas producing mine. Large resources in the ground - large stake in Pretium Gold - see value per share. Large Pitarilla project at PFS
  • Hecla (HL) - problems at Lucky Friday Mine
  • First Majestic (FR.TO / AG) - A flyer on 2010/11 rise. Hera ResearchSee Hera interview with CEO Keith Neumeyer. Buy Silvermex Spring 2012 who had acquired Genco.
  • Fortuna Silver (FVI.TO)
  • Allied Nevada (ANV.TO) has the potential to be one of the world's biggest silver Mines by 2015 at 30m oz pa. Supported by high gold production.
Emerging / Small Producers
  • Dia Bras (DIB)
  • USA Gold & Silver (USA.TO)
  • Scorpio Mining (SPM.TO)
  • Alexco (AXU)  - high grade mine - emerging production
  • Aurcana (AUN.v)
    • Ambitions to 10m oz pa - see Denver Gold 2012 presentation
  • Impact Silver (IPT.v)
  • Huldra Silver (HDA.v)
    • Small high grade mine, strong stock, newsletter following?

Developers
  • Bear Creek Mining (BCM.v)  - See Corani Feasability
    • Peru generally seen as a good jurisdiction, but local protests at one potential minesite, some questions on government direction.
    • Website
    • Presentation
    • With financing ~$600m Corani could be 15m oz pa by 2015
    • Santa Ana site issues could be 5m oz.
  • Wildcat Silver (WS.TO) - Hermosa project in the US
    • Website
    • Presentation
    • PEA sees 15m oz pa production for $500-600m Capex 
    • NPV climbs approx $130m per $1 on the silver price?
    • Strong board, ex Ventana CEO and CFO
    • 30% Management ownership
    • Note protest group, project area wildlife / water issues ?? "Patagonia Area Resource Alliance"
  • Chesapeake Gold (CKG.v)
    • Primary gold resource but also very large silver
    • Website
    • Presentation
    • To production 20m oz silver pa - higher in early years - as part of large gold project - see presentation.
    • Also hold 80% stake in Gunpoint resources who will drill a property near Tahoe's Escobal.
  • South American Silver - Bolivia Risk
  • Tahoe Resources (TAHO / THO.TO) - Very large deposit, Escobal Guatamala. high valuation Tgt >25m oz pa at low cost. Not a cheap stock. On track for commercial production Q1 2014 ~ 20m oz pa. 
    • Consider political risk in Guatamala, stock tanked after risk highlighted, though company denied issues would apply to them (June 2012)
    • Website
    • Factsheet
    • Deposit on Corebox
    • PEA May 2012
  • Xtierra (XAG.v)
  • Levon (LVN.TO) 
    • They compare their Cordero deposit to Goldcorp's Penasquito Mine
      • April-2012 Mkt Cap $90m - Cash $60m
      • 130,000m drilling 2012
    • Website
    • Presentation
    • PEA - March 2012
      • Capex $650m
      • NPV 5% - $422m @ $25 silver
      • NPV 5% - $875m @ $30 silver
  • Santa Cruz Silver Mining (SCZ.v)
    • Recently listed
    • Website
    • Presentation
    • Held firm during recent sell offs. 1 property near production. Others in development.
    • Head towards 8m oz pa ?
  • Arian Silver (AGQ.v / AGQ.L on Aim mkt)
    • Website
    • Presentation
    • PEA - April 2012 - For San Jose Project
      • An 8% PRE-TAX NPV of $13m - market cap is $100m @ 27/4/12 so we need to understand other elements of the company if we are to believe there is value here.

Explorers
  • International Northair (INM.v) - McLeod - Mexico
    • Couer D'Alene hold stake
  • Silver Predator (SPD.TO) - Bill Sherriff spin off from Golden Predator.
  • Silver Range (SNG.TO) - a Strategic Metals / Archer Cathero spin off at past producing location ( as was Atac)
  • Netco Silver (NEI.v)
  • Dolly Varden (DV.v) - Hecla buy stake Aug 2012
  • Commonwealth Silver - GRI visit
  • Vendome Resources
  • Cara Cara Silver (CSV.v)
    • Website
    • Presentation
    • Peru. Cash $3m June 2012
    • Couer D'Alene hold stake
    • Sprott & Pinetree invested. Geo board
    • Resources, PEA 2013






Accidental Silvers
Gold Miners rich in silver
  • Aurico Gold (ex Gammon Gold) - the silver rich mine will be sold to Carlos Slim's business.
  • Allied Nevada up to 20m oz pa production + large gold 
  • US Gold - McEwen Mining - Mexican silver
  • Minefinders - bid / merger with Pan American Silver
  • Chesapeake Gold (CKG.v)
    • Website
    • Presentation
    • To production 20m oz silver pa - higher in early years - as part of large gold project - see presentation.



4 comments:

  1. Hello;
    Since your company appears as related to our interest, we appeal to your attention and good will to assist us in our search for reliable information or respectable sites regarding junior mine brokers.
    We are owners of an 800 hectare Silver mineral rights property in Durango, México and we are seeking for a broker or an interested party to sell them. We would appreciate any orientation received on this purpose.
    Sincerely:
    Enri Cisneros

    ReplyDelete
    Replies
    1. weburkenroad@gmail.com cell#858 349 3364 English or Spanish diversified risk financial licensing with G.E.F.A. in 2002. William Burkenroad WE B Land, Inc.

      Delete
  2. Silver has always been refered to as poor mans gold. Its about time to change that perception

    ReplyDelete
  3. Silver seems to be very attractive at current price.

    ReplyDelete