• Gold: 1,616.36 27.51
  • Silver: 14.48 0.55
  • Euro: 1.085 -0.009
  • USDX: 100.203 0.727
  • Oil: 24.7 3.55

Live Silver

Bid|Ask 14.48 14.51
Low|High 13.89 14.55
Change 0.55  3.97% 
Apr 02, 2020 15:56:25 EST
1 mo -2.3349 -13.88%
1 yr -0.6292 -4.16%
Low|High 11.63 19.65

Live Gold

Bid|Ask 1,616.26 1,616.90
Low|High 1,582.60 1,619.97
Change 27.41  1.73% 
Apr 02, 2020 15:56:28 EST
1 mo +24.27 +1.52%
1 yr +324.47 +25.12%
Low|High 1,266.27 1,703.20

Gold-Silver Ratio

Bid|Ask 111.41 111.65
Low|High 110.37 114.07
Change -2.331  -2.05% 
Apr 02, 2020 15:56:29 EST
1 mo +16.785 +17.74%
1 yr +25.959 +30.38%
Low|High 79.05 128.23

Silver Edition


Chris Marchese, SilverSeek.com, April 2, 9:08 am

Following Part I of this piece, which highlighted three of six “next generation silver producers”, we will focus this piece on the next three, which include SilverCrest Metals, Alexco Resources, and Aurcana. The latter two don’t have tier-I silver asset but are very high grade and this group has an an all-in sustaining cost profile (AISC) in the bottom 50% on the industry cost curve, with SilverCrest and Aurcana having an AISC profile in the lowest quartile. Unlike Part I, whereby one company was nearing production, another was about to make an official production decision, and the last was still 3-4 years away from one (though worth inclusion as it will inevitably be an absolutely massive operation), these three companies are all nearing a production decision, which will be made this year assuming COVID-19 doesn’t completely shut down the capital markets or make the cost of equity very high for a prolonged period of time. As of this writing, it is looking like the metals have put in bottoms as a result of unprecedented global monetary and fiscal stimulus and rampant physical demand, but anything can happen.

Gary Christenson, April 1, 1:17 pm

Silver is real money, not a debt-based fiat currency that will eventually fail. Silver bullion production requires capital and effort to mine and refine. We use it for solar panels, iPhones, cruise missiles and thousands of other items. Silver is monetary sanity.

Jeff Clark, April 1, 12:40 pm

As you might know, a plethora of mining companies around the world have announced they suspended part or all of their operations. It’s probably worse than we know, as I suspect other miners have curtailed activities even if they haven’t announced it.

Clive Maund, March 29, 3:39 pm

Whichever way you cut it, silver’s chart looks bearish for the short to medium-term, but against this we must set its rapidly improving COT structure and the mega-bullish silver to gold ratio (by all past standards).

Chris Marchese, March 29, 11:38 am

Due to government mandated shutdowns of select businesses and in this case, mining, in response to the COVID-19 outbreak, there has been rather limited news flow except that related to temporarily suspending mining operations. It is important to note those companies which have temporarily placed operations on care and maintenance (C&M) will see cash outflows from those assets as C&M cost money. Strong balance sheets and available liquidity are imperative given the current market uncertainty. $AEM $AGI $BTC $CXB.TO $CG.TO $EGO $EDV.TO $EQX $FSM $HL $IAG $HL $LUG.TO $MUX $OGC.TO $PAAS $SSRM

SilverCOTReport, March 27, 3:16 pm

COT Silver Report - March 27, 2020.

Adam Hamilton, March 27, 11:58 am

The carnage in the silver miners’ stocks has been apocalyptic, fueled by the astounding COVID-19 stock panic. As terrified traders frantically dumped everything and ran for the hills, silver and its miners’ stocks crashed. That catastrophic anomaly has potentially created epic contrarian buying opportunities. The silver miners’ recently-reported Q4’19 results reveal whether their fundamentals support a massive rebound.

Chris Marchese, SilverSeek.com, March 26, 10:00 am

While there are a dearth of primary silver producers and even fewer quality companies, the same can’t be said of the next generation of primary silver producers. With the exception of Pan-American, Hochschild, Hecla, Fortuna, Fresnillo and arguably First Majestic Silver, there are essentially only a couple to no other high-quality primary silver producers (meaning no other companies derive at least 65% of total revenue from silver-equivalent production (silver and gold) and at least 40%-45% +/- from silver, now or in the future (inclusive a company’s advanced development projects), and have an all-in sustaining cost (AISC) profile per ounces of silver in the lowest quartile or bottom 40-50% on the industry cost curve (which may exclude First Majestic Silver for the time being).

SRSrocco, March 24, 5:34 pm

The precious metals market continues to experience unprecedented demand for silver bullion products. Even with the Fed increasing its liquidity injections by providing “Open-ended” QE to infinity, the Dow Jones Index today is still selling off considerably…. down 900+ points. There is no way the Fed and central banks can backstop the markets with liquidity and asset purchases if the physical economy is shutting down.

Chris Marchese, March 21, 5:31 pm

Endeavour Silver: Things are going from bad to worse for the higher-cost silver producer. In 2019, the company announced its El Cubo mine (which was its most profitable operation for a couple years) had become depletes of mineral reserves and it would be winding down operations until the company could drill out additional resources. This lowered output and caused an increase in companywide all-in sustaining costs (AISC). Further, due to heavy selling in silver and the company’s all-in cost structure being well above spot prices, should this continue for a prolonged period of time, it will be a cash drain. Beyond that, this week, the company completed the updated pre-feasibility study (PFS) at its Terronera silver project. Based on the preliminary economic assessment (PEA) and initial PFS, in addition to encouraging drill results after the study was completed, Terronera was to be its cornerstone asset, and by a substantial margin. Instead of publishing a summary of the PFS, Endeavour is now reviewing the study internally as it is less robust relative to the previous PFS. This could be resolved and be every bit at economic as originally thought but this in nonetheless unsettling news for the time being. | $AUY $PAAS $SILV $SVM $NEE.V $NGD $MUX $KL $GUY.TO $GCM.TO $EXK $ELY.V $GOLD $ALO $AGI

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