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Gold/Mining/Energy : Silver prices

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To: Alan Whirlwind who wrote (3161)	12/18/2000 3:34:11 AM
From: goldsheet	Read Replies (1) of 8010

> Silver consumption is also going up It's currently flat. Saw one estimate of -0.7% for 2000. > New mines come and go. Some only have 5 years of real life I can't recall anyone developing a new mine with only a 5 year life, most need to run 10+ years to justify the capital investment. A good example is the Apex Silver's proposed San Cristobal with 470moz AG proven and probable, which they planto mine at 27moz per year. With another 120moz is resources, this should be a 20 year mine. > but I don't think silver can sit around $5 indefinitely and still have as much primary production as now. Why not ? This is the same discussion I had years ago with gold. As prices went for $400 in late 1995 to $270 now, production went from 2250 to 2570, almost +15%. Remember, as you pointed out, 77% of silver is byproduct dumped on the market regardless of price. Only primary silver miners really care about silver prices, the copper/gold/lead-zinc miners have different priorities.

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