Do not own this Silver stock but found this interesting...
posted on
Mar 09, 2011 09:56PM
We may not make much money, but we sure have a lot of fun!
Aztec Silver - Rediscovered |
Over the past 500 years, one-third of the world's silver production has come from a long, narrow band of mountains known as the Sierra Madre Occidental range, located in western Mexico. The earliest miners in this area were the Aztec Indians. European settlers "re-discovered" massive silver deposits here in the 17th century - and thousands of immigrants stormed the Sierra Madre range in what was then the New World's first precious metal bonanza...
In 2003 a small company called Endeavor Silver (AMEX: EXK) started test drilling in an area of the Sierra Madre range. They had no earnings. They really had no idea if they had much silver on their property. And their stock sold for less than 50 cents a share. Since then, the stock has ballooned to nearly $6 a share.
But then in the early 1900s, the Mexican revolution halted all mining projects. Mining investment didn't start back up until the 1960s. It took decades of planning and exploration to get the Mexican mining industry back on its feet.
Today, Mexico's long-lost Aztec silver is being "re-discovered" all over again.
And the bonanza is in full swing.
Dozens of small companies are vying for properties in the area. They're setting up shop today, which means their mines won't produce an ounce for 5 years, if they're lucky.
But in 2005 a small silver exploration company began drilling test holes in this area. And today, they're now sitting on the richest deposit of pure silver discovered in the past ten years.
And they're on the verge of bringing their silver to market...
As I said, it's nearly $4 billion of silver in today's prices. For every dollar that silver goes up in price, this company's silver is worth nearly $75 million more - just like that.
And the reason this company is still cheap relative to other producing mining stocks in the area...is that they're not producing...
Yet...
Their development team is fast tracking the next stage of production...
That's why now is the perfect time to buy this company. When they start selling their silver, the stock will have already skyrocketed.
It happens every time.
The Company Producing Silver in Sierra Madre TODAY
Less than a year later, they discovered substantial silver deposits, and later in 2004 they actually began producing silver.
But even before they sold a single ounce, their stock had already more than tripled to over $1.50.