Beiträge von Silbertaler

  • Silberaktien

    Silver's promise lures junior resource firm
    Bets on rising price and scarce supply


    By WENDY STUECK
    MINING REPORTER
    Saturday, January 22, 2005


    VANCOUVER -- Junior resource companies tend to go where the action is, piling into commodities or regions based on price trends or promising discoveries.
    Sometimes that pattern plays out literally, as in the case of Vancouver-based Endeavour Silver Corp. -- formerly Endeavour Gold -- which changed its name in August as part of a strategic shift to silver and a game plan aimed at turning the tiny company into a mid-sized silver producer.
    The company, like others that have moved into silver or stepped up their focus on the metal, is betting on improved prices for silver, primarily because of dwindling global stockpiles and increased demand in areas such as electronics manufacturing.
    And, like silver producers in decades past, Endeavour has trained its sights on Mexico.
    "The backbone of Mexican mining is the small, family-owned company," says Endeavour president Bradford Cooke. But while many such companies have performed well for family shareholders over the years, mines typically have been starved for capital, driven by cash flow rather than plans for long-term growth, he says.
    With improving silver prices, that pattern offers appealing opportunities to foreign firms that can offer capital, additional mining expertise or both.
    Last year, Endeavour signed option agreements to acquire up to a 100-per-cent interest in the Santa Cruz silver-gold mine in northwestern Mexico and a nearby processing plant by paying $7-million (U.S.) over four years.
    The assets are in the Sierra Madre silver belt, which has been producing silver since the 1500s.
    Forecast 2004 production for the Santa Cruz mine is 300,000 ounces and the company hopes to increase that with more exploration and finding new veins of silver.
    At this point, Endeavour, with a market capitalization of less than $50-million (Canadian) and no revenue to speak of, is a small fry in a silver pool dominated by bigger fish such as Idaho-based Coeur d'Alene Mines Corp., with a market value of $783-million (U.S.), and Vancouver-based Pan American Silver Corp., which has a market value of more than $1.2-billion (Canadian).
    But Mr. Cooke is optimistic about Endeavour's prospects in the silver field, citing a well-run processing plant and the stable regulatory climate in Mexico.
    Endeavour's new silver focus comes as the metal is getting buffed up on the price front and bigger players are preparing to boost production, make acquisitions or both.
    Pan American Silver this week filed a shelf prospectus with Canadian regulators and the U.S. Securities and Exchange Commission that will allow the company to raise up to $150-million (U.S.) over the next two years through debt or equity financings.
    Dennis Wheeler, chief executive officer of Coeur d'Alene, said this week that his company is interested in potential acquisitions. Last year, Coeur d'Alene made an unsuccessful bid for Vancouver-based Wheaton River Minerals Ltd.
    In another reflection of silver prices that climbed by almost 14 per cent last year and by nearly 30 per cent between 1999 and 2004, Silver Standard Resources Inc. is talking about putting some of its assets into production.
    Vancouver-based Silver Standard has been buying and holding silver properties for the past 20 years and now claims to hold the world's biggest known underground hoard of silver. Silver Standard has a market value of $695-million (Canadian).
    Eric Sprott, CEO of Toronto-based Sprott Asset Management Inc., is bullish on silver, saying that his firm's hedge funds hold physical silver. He also invests in silver equities.
    "We are very positively inclined toward silver," Mr. Sprott said. "There is a shortage of production against demand, which has been sated by governments selling their stockpiles. And once those stockpiles are gone, you are going to have a shortage."
    His current top holding on the equity front is Vancouver-based Western Silver Corp., which completed a $64.8-million financing in December to develop its promising Penasquito project in Mexico.
    Endeavour stock rose by a penny to close at $1.70 yesterday on the Toronto Venture Exchange.

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    10:30p ET Wednesday, January 26, 2005


    Dear Friend of GATA and Gold:


    Despite recent assurances to the contrary from the U.S. Treasury Department, U.S. law still appears to empower the president to seize gold and silver coins, bullion, and shares in mining companies from private citizens.


    While the law may violate the U.S. Constitution's prohibition against the government's taking private property for public use without paying fair compensation, it puts precious metals investors in some jeopardy. So GATA has written to the Treasury Department seeking clarification and a meeting with department officials.


    The text of GATA's letter is appended.


    Protecting precious metals investors and the mining industry against threats like this would seem to come within the province of the World Gold Council.


    But the council does no advocacy of precious metals when governments may get in the way, and little advocacy in any case, so this work has fallen to GATA.


    The Treasury Department is not likely to respond to GATA's letter without some prodding from the congressmen who represent metals investors and mining companies, so U.S. citizens are asked to share the letter with their congressmen and the mining companies in which they are invested and to ask the congressmen and mining companies to get involved with the issues the letter raises.


    CHRIS POWELL, Secretary/Treasurer
    Gold Anti-Trust Action Committee Inc.


    * * *


    GATA LETTER TO TREASURY DEPARTMENT


    January 20, 2005


    Roberta K. McInerney
    Assistant General Counsel / Banking and Finance
    Department of the Treasury
    Washington, D.C. 20220


    Dear Ms. McInerney:


    Michael Kirk of U.S. Rep. John B. Larson's office has forwarded to me your letter to him of December 17, which answered my e-mailed inquiry to him about forcible redemption by the Treasury Department of gold and silver coins held by private citizens. You replied that a statute empowering the Treasury Department to do that, 12 U.S.C. Section 248(n), had been repealed.


    But since reading your letter I have learned of a similar statute: Title 12, Chapter 2, Subchapter IV, Section 95a, which provides in part:


    "During the time of war, the president may, through any agency that he may designate, and under such rules and regulations as he may prescribe, by means of instructions, licenses, or otherwise -- (A) investigate, regulate, or prohibit, any transactions in foreign exchange, transfers of credit or payments between, by, through, or to any banking institution, and the importing, exporting, hoarding, melting, or earmarking of gold or silver coin or bullion, currency or securities. ..."


    Section 95a further authorizes the president to "prevent" the "use" by U.S. citizens of any property "in which a foreign country or a national thereof has any interest."


    These provisions are of the greatest concern to investors in gold and silver bullion, coins, and shares of gold and silver mining companies, and to those companies themselves. So the Gold Anti-Trust Action Committee urgently requests that the Treasury Department explain how it construes these provisions. Particularly, we'd like to know:


    * How does the Treasury Department construe "the time of war"? How can gold and silver investors know when the powers described in Section 95a are in operation or likely to come into operation? Are formal declarations of war by Congress required here, or lesser declarations, or none at all, but rather declarations made only by the president?


    * How does the Treasury Department construe "hoarding"? Does it include the ordinary collection of gold and silver coins, numismatic or not, and bullion by U.S. citizens, businesses, and corporations, absent any collaboration with enemies of the United States?


    * Does the Treasury Department construe Section 95a to empower the president to interfere with the ownership of shares in gold and silver mining companies merely because shares of such companies also might be owned by foreign nationals or foreign governments, at war with the United States or not? Under what circumstances would the president be so empowered?


    In essence, we need to know whether Section 95a contemplates the instant destruction of gold and silver investors and the precious metals mining industry in the United States. So the Gold Anti-Trust Action Committee asks the Treasury Department for a meeting with the officials who might become responsible for implementing Section 95a, at which we might discuss the concerns of precious metals investors and mining companies. Would you kindly forward our request to the appropriate people?


    Thanks for your help.


    Sincerely,


    CHRIS POWELL, Secretary/Treasurer
    Gold Anti-Trust Action Committee Inc.


    Ich glaube, dass man diese Entwicklung sehr aufmerksam sich anschauen muß. Sollte es zum großen Knall kommen, wäre dies ein Hintertürchen für die USA, um auf die Gold-/Silberbestände und auf die Gold-/Silberminenaktien (!) zuzugreifen.


    Haben wir in Deutschland ein ähnliches Gesetz ?

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    Diese sehr gute Nachricht geht beinahe unter. Das Silber Institut gibt einen Überblick über neue Anwendungsgebiete von Silber:


    http://www.silverinstitute.org/


    unter News / 1. Quartal 2005 zum downloaden


    • Argentium Silver Co. hat ein neues Silberprodukt kreiert, dass seinen Schein ohne Polieren für Jahre behält. Ideal für die Schmuckindustrie !


    • Der Einsatz von Silber bei der Wasseraufbereitung ist in vielfältiger Form zu finden, u.a. bei Eis-, Gefriermaschinen, Swimming Pools, Trinkwasser, ...


    • Ein neues Athletic Shirt mit Silberinonen wurde eingeführt.

    Der Einsatz von Silber verbreitet sich immer mehr. Dies wird die physische Nachfrage begünstigen.

  • Das neue Südafrika

    Vielleicht kommen die Amerikaner ihnen auch entgegen und erhöhen die Zinsen ...


    Südafika befindet sich trotzdem in einer strategisch günstigeren Position als die USA. Sie haben "nur" ein Zinsdifferenz-/Randproblem, dafür jedoch Rohstoffe.


    Die Zeit arbeitet für Südafrika. In dem Maße, wo die Aktienmärkte crashen und der Goldkurs ansteigt, wird Südafrika erstarken.

  • First Majestic Silver Corp./ FR,AG (TSX,NYSE)

    Minews Story
    Date: January 26, 2005

    By Our Canadian Correspondent


    The silver bear has awoken from a deep slumber and Canadian-listed First Majestic Resources has wasted little time in setting up shop in Mexico, home to around 17 per cent of the world’s silver production.


    The Keith Neumeyer-led company has essentially by-passed the exploration stage and is cranking up production at its Le Parrilla mine property, which it acquired in May 2004. The junior turned on the operational tap in July after pouring about US$1 million into revamping the existing mill near Durango City. By October the operation was treating 180 tonnes of oxide ore a day and in December 30,000 ounces of silver were poured. The company is currently putting in a floatation circuit that will see production double to 360 tonnes per day before eventually hitting its 500 tonne per day target. Overall, First Majestic aims to see output of 1 million ounces of silver this year, 2 million ounces by 2006 and 10 million ounces per year in the not to distant future.


    Those may seem like lofty goals but it is just the start according to Keith, who is no slouch at company building having been the founding president of now mid-tier copper producer First Quantum Minerals. For those who don’t know the story, First Quantum picked up a copper property in Zambia and over about 2 years spent US$32 million to bring it into production. The revenue in the first year of operations back in 1998 totaled US$18 million and then jumped to over US$30 million in the second year. By 2000, First Quantum had US$135 million in sales and its stock price had increased from around C$2 per share in the early days to its current level of about C$17 per share.


    First Quantum has grown based on its operational know how and First Majestic has developed the same focus. The company’s COO is Ramon Davila, who came over from Plata Panamericana, a wholly-owned subsidiary of Pan American Silver, and has worked with Mexico’s largest silver producer, Industries Penoles, as well as Luismin. Beefing up the board on the management side, the company recently added David Shaw to its team. David is a Brit who was a senior Mining Analyst with Yorkton Securities and most recently was a crucial part of the group that built junior explorer, Cardero Resources.


    While most juniors are content to look for the next big find, First Majestic is aggressively looking to become a mid-tier silver producer by following the same model for silver that First Quantum used for copper. Namely, picking up underappreciated assets and turning them into producers.


    Shortly after the Le Parrilla acquisition, First Majestic gained title to four adjacent claim groups called the Chalchihutes. This project hosts exceptionally high grades with samples from the Perseverance mine yielding 15% lead, 6% zinc and 607 g/t silver. Of interest here is that any exploration success can be transformed rapidly into production by transporting the material to the La Parrilla property for processing. Exploration drilling is expected to get underway any day now.


    Next up for the company is the Dios Padre property, which was recently acquired. With a reported 57 million ounces of near surface silver outlined at a grade of 456 g/t silver and the promise for much more, First Majestic aims to confirm the earlier work with an eye on having a 2,000 tonne per day operation up and running by 2006. Capital costs are expected to ring in at US$20 million for the proposed open-pit operation and output could reach 5 million ounces per year as early as 2006.


    Nearby in the eastern Sierra Madre Mountains, midway between Hermosillo and Chihuahua in east central Sonora, First Majestic latest deal involved the acquisition of a floatation mill, the equipment and all mining concessions at Candamina. The total price tag is US$7.6 million payable over a three year period. Previously worked by Manhattan Minerals, the property hosts a historic resource of 6.1 million tonnes grading 0.9 gram gold per tonne. They also reported a potential for resources in this deposit of 20 million ounces of silver. One of the main targets for the company is the La Blanca area which hosts the old La Verde mine, which has a historic underground mined resources grading 466 g/t silver, 0.13 g/t gold, 4.33% lead and 3% zinc and the La Prieta mine that is reported to have similar robust grades.


    Having around C$7 million in its till, First Majestic is well funded but with its 2004 shopping binge and the ramping up of production, a new financing is almost assured in the first half of 2005.


    It is still early days for the fledgling producer and operational risk is always a factor but with an aggressive growth strategy and an experienced management team, First Majestic offers investors leverage to rising silver prices. Will it become the silver equivalent of First Quantum? Only time will tell but it looks like the company is off to a strong start.


    Eine sehr interessante Aktie mit einem enormen Steigerungspotenzial bei der Produktion.

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    Le Metropole Members,


    DALLAS--(BUSINESS WIRE)--Jan. 24, 2005--The Gold Anti-Trust Action Committee will host an international conference Aug. 8 and 9 in Dawson City in Canada's Yukon, the center of the Klondike Gold Rush at the turn of the 19th century, to discuss the suppression of the prices of gold and silver and the need for new representation of precious metals investors and the mining industry.


    The announcement was made by GATA Chairman Bill Murphy at the Vancouver Resources Investment Conference in Vancouver, British Columbia.


    "Since Dawson City represents the golden excitement of the past, this historic location is just the place for our conference as we enter a new time of excitement for gold," Murphy said. "We will call our gathering Gold Rush 21."


    Murphy listed these goals for the conference:


    - Expand GATA's role as an advocate for the precious metals industry.


    - Offer the mining industry and precious metals investors an alternative to the World Gold Council, which represents no more than 20 gold companies and has done little for those it purports to represent. GATA will seek to include more of the industry and will not align itself with the bullion banks and jewelry interests, which want precious metals prices suppressed. More than 40 mining and precious metals-related companies have supported GATA in recent years, and GATA believes that it can raise that total to 200.


    - Spread GATA's message that the gold and silver markets are not free and not fair, and develop ways to change that. Renowned gold experts from five continents will come to the conference and explain and discuss the price manipulation committed by the gold and silver cartels. The conference will show who has done it, why they did it, and what can be done about it.


    - Give conference participants a memorable trip to Klondike Gold Rush country so they can see what a gold rush was and what one might be again. GATA expects that conference participants will forge memorable relationships.


    - Receive suggestions from conference participants about how GATA can best build long-term support from the precious metals industry.


    The speakers at Gold Rush 21 will include:


    - Ferdinand Lips of Zurich, Switzerland. He has been managing director of Rothschild Bank AG in Zurich, CEO of his own private bank (Bank Lips), and a director of Randgold Resources, Durban Roodeport Deep, and Afrikander Lease. Now he is chairman and manager of the Top-Gold Fund, based in Liechtenstein. He has written four books on the gold market, his latest being "Gold Wars."


    - Peter George of Cape Town, South Africa. A graduate of Oxford University in England and the University of Cape Town, where he received his MBA, George was a member of the Johannesburg Stock Exchange from 1969-1981 and was senior partner of the Johannesburg stockbrokerage Saunders & Taylor. He became known as South Africa's "Mister Gold," during that period. Peter helped organize the GATA African Gold Summit in Durban, South Africa, in May 2001. Five sub-Saharan African nations attended that conference, along with representatives of major South African gold producers and the South African mine workers union. The summit was heavily reported by the South African Broadcasting Co.


    - John Embry of Toronto. Just as George is known as "Mister Gold" in South Africa, Embry is becoming known as "Mister Gold" in Canada. After an illustrious career at the Royal Bank of Canada, where he oversaw $5 billion in mutual fund assets and recorded an astounding return of 153 percent in 2002, in 2003 Embry became chief investment strategist at Sprott Asset Management. He was co-author of Sprott's important research study, "Not Free, Not Fair: The Long-Term Manipulation of the Gold Price," which validated GATA's work. There is no more admired figure in the mining industry.


    - Hugo Salinas Price, who may be regarded as Mexico's "Mister Silver." Salinas Price is leading the campaign to remonetize silver in his country, the world's foremost producer of silver. Last November governors of all 31 Mexican states sent a letter to the Ways and Means Committee of the Mexican House of Representatives to urge approval of legislation to remonetize silver. Nearly 200 Mexican journalists signed a declaration in support of the legislation. A poll by the Mexican television network TV Azteca found that 96 percent of viewers approved the remonetization of silver. It seems that the only major opponent of the silver legislation in Mexico is Mexico's central bank.


    - Reginald H. Howe of Massachusetts. A successful trial lawyer in Boston and proprietor of the GoldenSextant.com Internet site, Howe took on the entire Gold Cartel in U.S. District Court in Boston in 2001 by suing the Bank for International Settlements, the U.S. Federal Reserve Board, the U.S. Treasury Department, J.P. Morgan Chase, Citigroup, Goldman Sachs Group, and Deutsche Bank AG. Howe stood against more than a dozen of the highest-powered lawyers in the world. His lawsuit has been renewed by Blanchard Coin & Bullion's suit against J.P. Morgan Chase and Barrick Gold in U.S. District Court in New Orleans.


    - James Turk of New Hampshire. Turk, a former banker and manager of the commodity department of the Abu Dhabi Investment Authority, is editor of the Freemarket Gold & Money Report and founder of GoldMoney.com. He is also the co-author of "The Coming Collapse of the Dollar," just published by Doubleday.


    These men fight every day on behalf of gold and silver investors and mining companies.


    Facilities in Dawson City are very limited, so GATA will have to restrict invitations to mining company executives and investment fund managers, the people who are in the best position to help us push the industry forward. Mining company executives and fund managers who would like to attend Gold Rush 21 should write to GATA by e-mail at Registrar@GoldRush21.com and confirmations will be sent soon after that. More information about the conference can be found at its Internet site: http://www.goldrush21.com.


    GATA extends its profound gratitude to Samex Mining and Klondike Star for their exceptional efforts behind the scenes to make this international conference a huge success.


    CONTACT: Gold Anti-Trust Action Committee Inc., Manchester
    Chris Powell, 860-646-7383/860-305-4013


    GATA beginnt mehr Schlagkraft zu entwickeln und organisiert sich.

  • Der Rohöl Thread

    Einer der interessantesten Artikel in der letzten Zeit, der sich mit Saudi Arabien und dem Einfluß auf den Ölpreis befaßt:


    http://www.321gold.com/editorials/george/george012405.html


    Neben der Instabilität (insb. aufgrund des wachsenden Islamismus), wird vor allem zum Schluß auf die sinkenden Ölbestande sowie auf die Gefahr von terroristischen Sabotageakten eingegangen:


    • Um die Ölproduktion zu maximieren, pressen die Saudis derzeit Seewasser in ihr größtes Ölfeld (Ghawar), die derzeit ein Volumen von ca. 55 % der Produktion ausmacht. Erfahrungen zeigen, dass bei 75 % das Ölfeld zusammenbricht.


    • Simmons geht davon aus, dass die saudische Ölproduktion innerhalb von 3 Jahren rapide sinken wird. Es gibt keinen anderen Ölproduzenten, der die Saudis ersetzen kann.


    • 2015 wird die Ölnachfrage (inkl. der steigenden Nachfrage aus China / Indien) um 66 % ansteigen.


    • Es gibt massive Unterschiede bzgl. der Schätzungen der Ölreserven der Saudis. Die US-Quellen gingen 1975 von 108 Mio. Barrels aus, die Saudis von 280 Mio. Barrels.


    • Die Schätzung der Produktion liegt bei 9,6 Mio. Barrels tgl. für Ende 2004, 9 Mio. Barrels tgl. für Ende 2005, 8,7 Mio. Barrels tgl. für Ende 2006 und über 8 Mio. Barrels tgl. für 2007.


    • Bei einem Sabotageakt auf die saudische Ölproduktion geht man von einem Rückgang der Ölproduktion um 5,8 Mio. Barrel tgl. in den ersten 2 Monaten aus. Nach 7 Monaten liegt das Niveau immer noch 4 Mio. Barrel unter dem normalen Niveau.


    • Sollten die Saudis in Bedrängnis geraten, ist ein Endpreis von 75 $/Barrel Ende 2005 möglich. Bei der Relation Öl/Gold bedeutet dies eine Verdoppelung des Goldkurses.

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    McHugh analysiert ausführlich den Verlauf von Dow Jones und S+P 500 mit verschiedenen Phasen, wo kurz darauf ein Crash stattfand:


    http://www.gold-eagle.com/editorials_05/mchugh012205.html


    • Wenn man eine Analogie zu den vergangenen Investorverhalten zieht, kommt man zum Schluß, dass ein Crash vor uns liegt. Die amerikanischen Aktien haben das Top erreicht.


    • Der Crash wird im späten Februar Fahrt aufnehmen und im März 2005 erfolgen.


    • Eine bemerkenswerte Korrelation ist zwischen dem Kursverlauf S+P 500 mit DJIA1929 zu erkennen. Vom heutigen Niveau könnte dies zu einem Crash von 30-48 % führen !


    • Silber ist dabei auszubrechen.

    Wieder eine Analyse, die in Richtung Crash-Szenario geht. So langsam nehmen diese Analysen zu ! Dies zeigt wie dünn die Luft allmählich wird und gleichzeitig ein Anstieg der Gold-/Silberkurse ansteht !

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    Finanzmarktanalyse von Gofsky:


    http://www.gold-eagle.com/editorials_05/gofsky012105.html


    • bullisch für Uran, Energieaktien, Gold und Silber


    • Aufgrund des globalen Aus-/Aufbaus von Nuklearreaktoren wird der Uranverbrauch zunehmen.


    • Hauptkatalysator für den deutlichen Anstieg der Gold-/Silberkurse ist ein Crash beim Bond-Markt und ein Anstieg der 10jährigen Bonds (beide sollte man in der nächsten Zeit sehr genau betrachten). Ebenso ein Crash im Aktienmarkt.


    • Die asiatischen Staaten beginnen zu erkennen, dass Amerika ein massives fiskales und monetäres Problem hat.


    • Das Niveau der Insiderverkäufe, die Aktien verkaufen, ist sehr hoch. Im August 2000 (vor dem Platzen der Tech-Blase) lag das Niveau bei 7,7 Mrd. $. Im November 2004 lag das Niveau bei 6 Mrd. $

    Auffallend ist, dass die warnenden Stimmen in der letzten Zeit immer mehr zunehmen.