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Gold/Mining/Energy : Silver prices

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To: goldsheet who wrote (2819)	4/29/2000 12:01:00 PM
From: Claude Cormier	Read Replies (1) of 8010

Pirquitas as a net present value of $138 millions. Although SSC is not out of troubles, they should find a way to leverage this asset and solve their problem. <<Looks close to me, because I'd estimate silver reserves are worth 25-30 cents per ounce.>> It is higher than that on a takeover basis. Give it a range of $0.50-$0.70 for reserves that are economic at today silver prices. << I'm not very excited about silver, don't own any silver stocks>> One can be excited about a project even if the metal in question is not yet shining. They are two different things. Silver prices at $5 are more than enough for Pirquitas which will have costs below $1.50. This is as good as it gets in the mining sector(Pierina, Goldcorp's new Red Lake and a few others being exceptions). The same is true for BAY's Alamo Dorado.

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