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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: Claude Cormier who wrote (2572)10/8/2001 12:18:47 PM
From: goldsheet  Read Replies (2) of 4051
 
<Are you beginning to look at silver in a more positive manner?>

I was bearish in 1999 and 2000, and I have gone to neutral, so neutral is more positive than bearish <g>

<After the 1974 recessions, silver prices went up 400%. With a little more inflation (which is likely) in 2002-2004, we could see a double or more ??>

Very possible, but if we go into the 2001-2002 recession first then demand should be weak and keep prices "calm before the storm" Sure $8-10 is possible, by 2004-2004 ?

<With so many silver projects awaiting higher prices, production cut in the base metals and primary silver mine as well, we could could see a cut of 90-120 million ounces ??? >

I have the same problem as I do with gold, I must be missing all of the press releases which show cuts. I know Sunshine is shut down and Hecla's Lucky Friday has cut back, but that is not a lot of ounces, maybe 6 million. Echo Bay might come in about 4moz lower this year. HM is OK. If TeckCominco completely shuts down Red Dog zinc that's up to 10moz. Meanwhile I see mines like Antamina copper opening and good for 20moz+ per year of silver. Yanacocha has expanded and spits out a good amount of silver. If Pascua Lama / Veladero ever gets into production, it contains a decent amount of silver (like 500moz ??)
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