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Gold/Mining/Energy : Silver prices

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To: Raja who wrote (2668)	3/18/2000 11:17:00 AM
From: russwinter	Read Replies (1) of 8010

Besides BAY (which is best characterized as an excellent exploration play with home run potential), I believe Silver Standard (SSRI) offers a superb, extremely inexpensive slightly out of the money leveraged call on silver. In a nutshell SSRI controls at least 300 million oz in three projects, so with a US23 million market cap (net of cash), that's less than 8 cents per ounce. Somewhere in the neighborhood of three fourths of that would offer an IRR of 20% at $6.00 silver, with relatively modest capital costs. Their Manantial Espejo project may not quite be an Alamo Dorado, but there is clear potential to expand this deposit (89 million oz before January's results)significantly. Given what I believe is silver's upside potential this company's projects will pop up on radar screens in a flash.

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