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

To: Ed Newman who wrote (603)	2/5/1998 8:43:00 PM
From: TD	Read Replies (1) \| Respond to of 8010

Probably, but none to my personal knowledge in North America. Penoles may make a profit, and I think Pan American is or very close to the profit zone. If you research the silver institute web pages you will find that 17% of silver is a byproduct of gold mining. Now that several gold miners are cutting back it will slow some silver production as well. Further more most silver is a result of copper, zinc, and lead mining; these commodities are weak at the present time so here again the silver production from these sources will stay level at best. In the meantime 200 Million more troy ounces of silver are used each and every year than is mined. Above ground stocks REPORTED are around 9 months worth. So in about a year from now things could get rather interesting, it is my understanding that Mr. Buffet is a long term investor so I doubt very much that he will be selling anytime soon, and also I am guessing that he may be enjoying the scramble going on now for the sellers to deliver silver to him.