BAY'ers shld read what PAAS boss said 2 CBS/Calandra 2day wrt: OVER val of PAAS reflected in current prices...Great Informed Read:
Here are some pertinent direct quotes from that interview posted elsewhere:
OPEN QUOTE:
....Ross Beaty, this year's Silver Institute president and the Vancouver-based head of Pan American Silver the world's 15th largest silver producer.
CLOSE QUOTE:
MY PROFOUND APOLOGIES TO THE THREAD FOR CALLING PAAS a 3rd rate silver producer. It would be more accurate to have state: a 15th rate silver producer--LOL
OPEN QUOTE:
...Beaty, like many silver dons, is riding high this month. His stock price, (ed note: interview was published today) even he admits, is "way, way ahead of the metal, and I think this shows most people expect silver prices to keep rising."
CLOSE QUOTE:
OPEN QUOTE:
...The Silver Institute Report, cataloging futures contracts, London-based bullion supplies and physical demand, says silver showed "implied net" purchases of almost 17 million ounces last year. While that's a "trivial" amount, it is a big change from 2000, when 98 million ounces, on balance, were sold.
CLOSE QUOTE
OPEN QUOTE:
...."Silver is pulled along up and down by industrial demand," says (PAAS) Beaty. "Happily now, gold is seen as
an investment and you will see silver coming in on its coattails. You can buy a lot of silver for gold and that is why it is the poor man's gold."
CLOSE QUOTE:
OPEN QUOTE:
....Headley, the founder of a stock-charting service called BigTrends.com. "Our view on gold is that we have been pretty bullish on the bigger picture and still are but we are getting some really over-optimistic sentiment readings so we see a cooling off," Headley said Thursday from the Chicago airport, on his way to New York. "We're in the midst of an acceleration phase that could last for another two or three days and we expect a cooling-off phase that starts next week and lasts three or four weeks," Headley says.
CLOSE QUOTE:
Wonder where PAAS and BAY profit taking after this candid assessment grabs the shorthairs of the frozen in the headlights BAY "dears"...will take BAY down to?
As ole' Ed Hart on FNN/turned CNBC would say: We'll all know "in the fullness of time." (RIP, Ed!!)
marketwatch.com
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