fr selling 5% of production as physical

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aitakahashi

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fr selling 5% of production as physical

posted on Nov 19, 2008 08:12AM

first majestic silver is already selling 5% of its production as coins, ingots, and bars. they expect to increase that to 10% by february to take advantage of free market prices, as opposed to the comex. they're still using $14 silver as their basis. and just about everything is still either sold out or coming soon.

The Company's direct sales of finished silver products continue to be very robust. The Company presently is selling approximately 5% of its production in the form of 1 oz, 2 oz, 5 oz and 10 oz coins, 5 oz and 10 oz Ingots and 1 kilo bars containing 99.9% pure silver. These products are actively marketed on the Company's web site and sales are anticipated to reach 10% of the Company's production by February 2009. The sale of silver in these forms tend to sell at a substantial premium to COMEX spot prices and help to supply the enormous demand for physical silver in the current environment.