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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (3208)	8/2/2002 10:44:48 AM
From: goldsheet	Respond to of 4051

> of course, silver may very well run first -ggg- Don't know if you read the silver thread, so I reposted the following here for your entertainment. Previously I have expressed my concern that base metal mines, especially some new ones in South America, will continue to produce huge amounts of silver byproduct. This may limit future upside price potential of silver. The latest BHP Billiton annual report (year end June 30) has some interesting numbers. Overall they produced 40.75 million ounces versus 31.720 last year, up 28%. This now makes them the second largest silver miner in the world, behind Penoles. The Cannington lead-zinc mine produced 35.964moz vs. 29.488moz, making it the largest single source of silver in the world. With 700moz of silver reserves, it will produce by-product for decades. Meanwhile, the Antamina copper mine produced 1.767moz of silver since it opened in October 2001. When one considers BHP owns 33.8%, annualized total silver production for the entire mine should be around 7 million ounces. While 7moz doesn't seek like much, it is almost as much adding a company like Hecla to the silver supply side of the equation. REF: bhpbilliton.com