Welcome To The Golden Minerals HUB On AGORACOM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Message: ECU mentioned in Cannacord morning coffee today - 1st time in a long time
ECU Silver Mining* (ECU : TSX : $0.79), Net Change: 0.09, % Change: 12.86%, Volume: 3,643,485
Silver Wheaton* (SLW : TSX : $10.54), Net Change: -0.14, % Change: -1.31%, Volume: 1,565,504
iShares Silver ETF (SLV : NYSE : US$14.50), Net Change: 0.16, % Change: 1.13%, Volume: 9,626,988
Are you a Silver Surfer?
Gold’s just as worthy, but often forgotten about cousin, is now trading at 2009 highs and starting to get the attention it deserves. Worries about inflation and a falling U.S. dollar have given a boost to most commodities of late, in particular gold and silver. On Friday, silver climbed past US$14.62/oz, which was seen as a key resistance level by chart watchers. Like gold, silver is used to store wealth and for jewellery. However, silver has something else going for it that gold doesn’t – real applications in both industrial and technological products and processes. According to Seeking Alpha, silver has always been involved in traditional photography, but it’s also an important component in many newer, eco-friendly technologies. For instance, photovoltaic solar cells as well as hybrid and electric car batteries. Seeking Alpha stated, “Silver is so important and irreplaceable to the manufacture of these items, it has recently picked up the nickname ‘the green metal.’” And then there is that pesky 50-to-1 ratio that keeps poking its nose into conversations. Take it for what it’s worth, but if the gold-to silver ratio was to hold true than silver should currently be trading hands at over US$19/oz – about 30% higher than where it is now. In silver equity news late last week, Silver Wheaton announced that its acquisition of Silverstone Resources was successfully completed. Also, ECU Silver Mining reported that it has poured a total of 78 silver/gold ore bars in the past month, that the oxide mill continues to operate very well and over the next few weeks the company plans on increasing the throughput of its gold and silver recovery oxide plant to a rate of 500 tonnes per day.
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