The recent pummelling of silver prices appears to be running out of fuel, with poor mans gold finding some support around the $9.00 level.

In addition to this (read more…)

We recently put the following question to Silver Wheaton, as we were unclear about their ability to achieve sales targets if the base metal miners were to close down their operations. This morning we received a response Brad Kopp, Director, Investor relations, which is copied exactly as we received it below.

Question:

As most silver production is a by product of Zn/PB mining and some of those mines are closing down, how does Silver Wheaton protect itself should the agreed silver production be not forthcoming (read more…)

As we write silver is trading at $9.23/oz, gold is trading at $734.40 and the DOW has just dropped 427 points. The financial turmoil continues with the flight to cash alive and well. This very same flight has added strength to the dollar and kept the lid on gold from moving higher and indeed silver. It is difficult to predict the bottom for precious metals and their associated stocks as the contraction of the world economy goes up against the planets biggest ever stimulus package (read more…)

The third quarter results for the Silver Wheaton Corporation have been released and are highlighted below, but first we draw your attention to the commentary made by Peter Barnes, President and Chief Executive Officer of Silver Wheaton who said the following (read more…)

Silver Wheaton Corporation has recently announced that they have acquired 25% of the silver production from Alexco’s project in the Yukon, Canada. The news release goes on to give the following details:

Silver Wheaton will pay Alexco US$50 million to acquire 25% of all payable silver produced from the Keno Hill project, for the lesser of US$3.90 (subject to a one percent annual adjustment starting in year four after the achievement of specific operating targets) or the prevailing market price per ounce of silver delivered (read more…)

As we write silver is trading at $13.25/oz, as it reclaims some of the ground lost in the recent sell off. Our strategy remains pretty much the same in that we still expect a terrific end of year rally in silver prices. As you know we have been buyers over the summer but this correction certainly hit us hard, however we have not hit the sell button and we will continue to hold fast. Our cash position improved with two successful options trades so we will be looking to deploy these funds over the next week or so. The above chart shows the 40% drop in silver prices and the subsequent bounce back to $13.00.

Here is a summary of the silver stocks we are currently invested in or following (read more…)

Silver Wheaton (SLW) has been severely oversold in recent trading and so we are taking this opportunity and have increased our position by 50% and therefore are hereby signalling a BUY on this silver stock (read more…)

Yesterday we decided to take the plunge and acquire more shares in Silver Wheaton Corporation having failed to acquire it with low bids recently. We met the market and paid an average price of $15.61 for this stock. This purchase looks a little expensive at the moment however we expect silver to challenge and beat its previous highs by the end of the year propelling Silver Wheaton to higher ground (read more…)

We do own this stock having made our first purchase at $9.41 and have been tracking it with the view of acquiring a few more shares. Today we put in an order for Silver Wheaton Corporation (SLW) but we pitched it a tad low and ended the day empty handed. We didn’t want to chase the price higher and so we waited patiently for the price to come back, which now looks like an error of judgement on our part. Still there is always another day and another opportunity (read more…)

Agnico-Eagle Mines up 7.76%, Yamana Gold Incorporated up 6.84%, Kinross Gold Corporation up 11.76%, Randgold Resources up 5.39%, Pan American Silver Corporation up 7.74%, Silver Wheaton Corporation up 9.38%.

We are pleased to report that these are some of the precious metals stocks that constitute a major part of our investment portfolio and have had a great day!(read more….)