Vargas:
I believe that they are on schedule, but will check today with
the company. I have heard that the financing is done, and
personally, have been buying more on the open market. We
are in a corrective phase in silver right now, and haven't
quite turned the corner again. Nevertheless, this company and
other silver producers that can produce at a low cost should do
very well.
I hear that copper prices could go a lot lower, due to decreased
economic demand in Asia, etc. If so, new copper projects may
be put on hold, and uneconomic ones obviously won't be resumed
or started. Since much of the silver produced is a by-product
of the base metals including copper, this should in fact continue
to help keep silver prices firm. When copper and other mtls turns back
up, and eventually, silver production finally rises to meet
demand, we will see a peak in silver prices. However, that is
going to take several years, imo, and in the meantime should
see significant appreciation in stocks like Clifton, which could
rise to a multiple from these levels.
Regards
Dan
|
