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« Is Gold Unstoppable? | Main | Portfolio Update: 24 February 2008 »

EFTs: Better than Silver Stocks?

Mineweb logo 26 Feb 08

There is an interesting article by Barry Sergeant which appears on whereby the author discusses the success of silver EFTs when compared to the performance of 50 silver shares.

The author points out that silver is at a twenty seven year high, trading at $18/oz and the best performing silver share is iShares Silver at $178.77 a pop, which is effectively a silver ETF. The other 49 stocks that are tabulated in the article are off their respective highs by considerable amounts. The author goes on to suggest that when the silver price cools off, consolidation among the listed stocks may set in. Interesting!

We have often stressed that this is an extremely thin market sector that can be buffeted by the actions of a few big players and Barry puts this into context when he writes;

“The total market capitalisation of the 50 selected silver names (reflected in the table below) is $41.2bn, falling short of the single market capitalisation of the world's most valuable gold stock, Barrick (ABX US, $49.61), at $43.1bn, and far short of the world's biggest diversified resources stock, BHP Billiton (BLT LN, £16.18), which currently carries a market value of $192bn.”

The table is well worth a look if you have the time just follow this link.

Have a good one.

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