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Gold/Mining/Energy : Silver prices
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To: loantech who wrote (6507)10/15/2003 7:45:11 AM
From: goldsheet  Read Replies (2) of 8010
 
<I'm really watching base metals as a leading indicator and think Chinese copper and nickel (for steel) demand will extend base metals to much higher levels.>

Damn, that was a good prediction, wish I'd said it, wait a minute I did ;)

Seriously with lead up 46% YTD, zinc up +18%, and copper up 23.7% I think we are going to see more output and more silver byproduct. I should re-run numbers on pending mines with high lead/zinc content to see how much more profitable per tonne they are.

Apex San Cristibol comes to mind: 64.6gpt AU, 1.67% zinc, .59% lead.
What's that $10 silver + $36 lead + $15 zinc = $61/tonne
was $10 silver + $25 lead + $13 zinc = $48/tonne at beginning of the year.
Project looks almost 30% better in just over 9 months

<still don't see the 100:1 ratio gold to silver coming back.>

I think gold can make a big run without taking silver with it.
Let's say to 500-550 by end of 2005, while silver would lag near 5.00-5.50 (100:1)

I can not imagine AU:AG ratio getting back under 50 this decade, nevermind 16:1 or other historical ratios.
Hasn't been under 40 in 20 years
goldsheetlinks.com

P.S. I'm the same nut who said in 1995 gold would not get much above $400
for the rest of that decade and would more likely get to $300.
(I was not bearish enough <g>)
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