i don't think most silver producers will go that way because it's not the business they're in. refining and minting bullion would require more capital and different skill sets. first majestic is still a marginal producer at this point, so it could make sense for them. they are a small company and they aren't profitable at the current spot price, so they don't have much to lose.

silver standard's projects are so robust that they will be profitable no matter what the silver price. in addition, if they tried to go into the refining business, the crisis might be over before they even got started. the existing refiners are already backlogged, and this market distortion isn't going to last forever. every week there is news of more base metal mines shutting down, taking more silver supply out of the market. in any event it will still be a few months before silver standard will be selling its concentrate at the comex price (assuming the comex is still open.)