Due to silver's short supply and massive demand, silver is without a doubt grossly undervalued. In order for investment demand for silver to subside, I would think silver would have to trade at over $100/oz. Especially due to the "new" policy implemented by central bankers, that depositers (customers) are now lenders to the bank. The Cyprus bail-in for banks will send silver prices considerably higher in time.

Simply put UC is a low cost silver producer. Other junior silver producers cannot compete with UC in terms of their cash costs and potential for growth. So the answer is UC is grossly undervalued in comparison with its peers. There is tremendous value here with UC. Cheers from the GAA.