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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: XoFruitCake who wrote (41969)11/30/2005 11:42:11 AM
From: Knighty Tin  Read Replies (4) of 116555
 
Xo, The reason is that there are almost no silver companies. The great majority of silver is mined by copper companies. It is a byproduct and means very little to Phelps Dodge or PCU's bottom line.

IMHO, the best positioned, relatively pure silver play at this time is Pan American, PAAS. They are producing nearly 13 million ounces with a goal of doubling that in 2008. They are constantly bringing down their cost of production, now at $4.15 per ounce, but investment in new mines and projects keeps profits away. My feeling is I want them to maximize production when silver prices peak in the future and I think they have the same goal.

Apex Silver (SIL) has no production, but has one great mine in development. They will also have a bunch of zinc and lead with their silver, and I love zinc over the long haul. But we are talking about mid 2007 for production.

Western Silver (WTZ) and Silver Standard (SSRI) also have no production, with nice projects for the future. But they seem to be about 5 years behind PAAS and maybe 2 years behind SIL.

Couer D'Alene (CDE) has a lot of gold mixed in, which is fine, but not a pure silver play.

I also like CEF for its bullion holdings of gold and silver. It is the only stock play for silver bullion.
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