SILVER NEWS

H1 NUMBERS


Hochschild sees further upside to silver prices

Wednesday , 19 Aug 2009
The Latin American miner produced estimate-beating first half results and remains upbeat for the future

14.1% DROP IN FRESNILLO NET PROFIT


The world’s largest primary silver miner looks to industrial uses in year ahead

Tuesday , 18 Aug 2009
Although Mexico’s Fresnillo achieved record silver production in the first half of this year, lower silver prices resulted in 14% drop in net profit for 1H09.

DECLINE IN 2Q09 NET PROFITS


El Cubo strike, lower Ocampo production slams Gammon Gold’s bottom line

Friday , 14 Aug 2009
A strike at one mine and delays at another, combined with a substantial forex loss, took their toll on Halifax, Nova Scotia-based Gammon Gold during the first half of this year.

NET INCOME DROPS TO $10.2M


Pan American Silver reports record silver, gold production in 2Q09

Wednesday , 12 Aug 2009
While Pan American Silver’s silver and gold production achieved quarterly records, the company’s second quarter net profit dropped by more than half due to sharply lower metals prices.

EBITDA TO MORE THAN DOUBLE


S&P improves Coeur credit ratings to B-, outlook positive

Monday , 10 Aug 2009
Citing a “significant improvement” in Coeur d’Alene Mines’ financial performance, Standard & Poor’s suggests the company’s EBITDA will more than double in the second half of this year to $70 million.

KENSINGTON AWAITS FINAL STEP


Coeur reports 74% increase in silver production and profit return

Friday , 07 Aug 2009
Coeur d’Alene Mines CEO Dennis Wheeler said the company’s two new larges mines in Bolivia and Mexico are having a significant impact on the company’s production and cash flow.

STANDARD & POOR’S


Peñoles to maintain strong financial ratios, despite weak silver price

Monday , 03 Aug 2009
Despite lower silver prices this year and weakness in other nonprecious metals, S&P expects Mexico’s Peñoles to maintain strong financial ratios.

WEEKEND COMMENTARY


Two days is a short time in gold and silver price prediction

Monday , 03 Aug 2009
A stutter in gold and silver prices in late July had some analysts predicting the end of the gold bull market, but an equally rapid recovery shows the monetary precious metals may have life in them yet.

PRE-FEASIBILITY STUDY COMMENCED


Significant new gold and silver zone at Minefinders’ La Bolsa

Saturday , 01 Aug 2009
Step-out drilling at Minefinders’ La Bolsa property in Mexico has encountered what the company describes as a significant new gold and silver zone.

‘DIFFERENT COMPANY’


Hecla reports record silver production for 2Q – loss minimised

Thursday , 30 Jul 2009
Reduction of debt and strong cash flow have transformed U.S. silver miner Hecla into “a different company that it was six months ago,” says CEO Phil Baker.

CAN MOMENTUM BE MAINTAINED?


New and accessible silver investment trust goes live in the US

Friday , 24 Jul 2009
Gold and silver ETF investment has slowed recently as the markets have become more cautious; does the market have room for another instrument and are either silver or gold top-heavy?

LOWER COSTS, BETTER PROFITS


Fresnillo reports record silver production

Monday , 20 Jul 2009
Good grades and improved efficiencies boost the Mexican silver miner’s first half numbers

REUTERS POLL


Analysts polled – gold and silver price predictions and comments

Friday , 17 Jul 2009
Poll results and some comments from analysts as to what lies ahead in gold and silver prices this year and next.

COEUR GETS KENSINGTON TAILINGS CASH INFUSION


Perilya unloads Coeur silver offtake for US$55 million cash

Friday , 17 Jul 2009
Four years ago, Coeur d’Alene Mines was thrilled to buy a silver stream from Australia’s Broken Hill mine. However, a new Chinese partner and the need to slash mining costs have prompted Perilya to buy out the agreement.

EXPANSION BENEFITS


Hochschild Q2 silver output up 19 percent but will make losses on forward sales

Wednesday , 15 Jul 2009
With output of 7.2 million silver equivalent ounces, Hochschild says it is on track to make its 28 million ounce target for the year, but forward sales at below the current silver price will be denting earnings figures.

CANBERRA TREADING WARILY


Now China accuses the Rio Tinto Four of bribery as well as spying

Friday , 10 Jul 2009
China’s State Security Bureau has now accused the three local Rio staff and senior Australian executive Stern Hu of bribing Chinese steelmakers during the recent iron ore price negotiations.

MEDIUM TO LONG TERM CONFIDENCE


Despite some headwinds, ScotiaMocatta still bullish on gold and silver

Friday , 10 Jul 2009
Noting IMF gold sales are all but inevitable, ScotiaMocatta still remains bullish on gold over the medium to long term. Silver has been outperforming making it vulnerable short term, but again confidence expressed medium term.

ORE VOLUMES INCREASING


Substantially higher Q2 gold and silver output from Minefinders

Thursday , 09 Jul 2009
With Q2 gold production up 65% and silver production rising 49% Minefinders is bringing its Dolores mine in Mexico towards full capacity as BMO gives company ‘outperform’ rating.

$341.7M REPAID ON $380M FACILITY


Silver miner Hecla pays down debt, loosens credit facility spending limits

Wednesday , 01 Jul 2009
A credit agreement amendment generated by an $18.2m prepayment by Hecla Mining allows the company to spend up to $75 million on exploration and capex throughout 2009.

INFORMATION DISCLOSURE CRITICAL ISSUE


MAG Silver fires back as Fresnillo withdraws ‘take-under’ bid

Tuesday , 23 Jun 2009
Refusing to disclose the information its junior JV partner MAG Silver and the OSC demanded, Mexico’s mega-silver miner Fresnillo walked away from its takeover bid for MAG, to the frustration of the junior explorer.

VALUATION DELAYS


Top silver miner Fresnillo drops $179 million Mag Silver bid

Monday , 22 Jun 2009
World No. 1 silver miner, LSE listed Fresnillo has withdrawn a hostile takeover offer for Canada’s MAG Silver due to long delays in MAG supervising the completion of an independent valuation.

INCREASED SILVER DEMAND KEY ISSUE


Buenaventura’s Benavides new Silver Institute president

Thursday , 18 Jun 2009
Roque Benavides, the CEO of Buenaventura, the Peruvian gold and silver producer, is the new president of the Washington, D.C.-based Silver Institute.

INVESTOR HUB: Silver



View more charts 



TOP STORIES


DOWN 2,606 TONNES IN 9 YEARS

Global gold hedge book drops just 31 tonnes in Q2 – SocGen

Thursday , 27 Aug 2009
Next year should see at least 80 tonnes of dehedging – a far cry from the annual average of 290 tonnes since net dehedging became part of the annual supply-demand balance in 2000.

More 

FAST NEWS