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Gold/Mining/Energy : Corner Bay Silver (BAY.T)
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To: Scripts who wrote (1472)10/14/2000 1:33:47 PM
From: Claude Cormier  Read Replies (1) of 4409
 
ED,

If silver rose to $8 two years ago, it can certainly happen again and more.

There are a few things we are sure of:

For the last 10 years, fabrication demand has exceeded mine production depleting above ground inventories by close to 1.5 billions ounces of silver.

The supply demand deficit is still above 100 millions ounces per year and we don't know how much silver is available above ground at current prices, but many think we are nearing zero.

Silver (and gold) are both cheap and selling near or below their average production costs as main products.

Base metals prices and therefore production will be heading lower in the next recession so by-product precious metals production is likely to do same.

The size of these markets are now 10-20 times smaller (relative to the worlwide currency market) than they were in the great speculative bubble of 1976-1980. So the money shift into this market necessary to cause another similar bubble is 10-20 times smaller as well.

Time will tell.
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