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Gold/Mining/Energy : Silver prices

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To: philv who wrote (643)	2/6/1998 2:35:00 PM
From: Claude Cormier	Read Replies (2) of 8010

<< The Price of Silver although much better, is still barely economical to mine. Perhaps Claude could comment on that? >> All depends. Some miners have mining costs below $3 (FSR..)...others can't still bring some deposits to production because they need $7-$8 minimum to be profitable. On average, I'd say that most are now becoming profitable, the average cost being probably in the $4.50-$6. Some high grade producers like Prime are were already very profitable at $5 so $7 is quite a bonus. You have to take it on a case by case. On volumes, well I think that they quite explode this week...all over the board. You say that the prices of some stocks are still far behind. I dunno what is your time frame but keep in mind that many of these stocks have gone dramatic changes in the past many years. CDE and HL are now producing more gold than silver. They were once pure silver producers. So they are now much less leveraged. SSC has issued tons of paper in order to stay afloat... As a group, the purest players are at least 100% up from their low last summer...so the reaction is quite good so far. If, this move is only the start of a 3-5 year bull market...we ain't see nothing yet. If gold join the party, then the diluted producers will start to make the big moves one would have expected.

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