Coach -

The reading that I have done about GPR repeats the story that you just told. Old mines (some dating back to the original Spanish "invasion" of the area - complete with tales of Indian slave labor). I imagine that back in those days (and perhaps well into the early 20th century) the miners just "followed" the vein until it tapped out.

So there is the potential for much, much more silver using modern mining techniques and for possible deposits of gold, lead and zinc (since they seem to often occur together). I am convinced that the limited supply and increasing demand for silver will only intensify in the the years ahead. As you know, silver is used in very limited but neccessary amounts in electronics, biomedical applications, purification, and nanotechnology. These tiny amounts of silver contained in the product mean that the price of silver can get very high without adding much to the overall price of the product (is this what they call price elasticity).

All that could easily lead to triple-digit silver in the next decade and who knows what a company like GPR could be priced at under those conditions. If you want to go off-topic, please share if you think that IPT is following a development model that is similar to GPR.

- Panamax