A quick update of our portfolio of silver stocks shows just how well these silver investments have performed to date.

We are very pleased with the progress however we have lost patience with CDE and have decided to sell it and we will replace it shortly with a new silver mining company.

Below is a list of what we have and a record of the progress that has been achieved to date.

HL $8.28 BUY
Bought for $5.27 has gained 57.12%

PAAS $31.03 BUY
Bought for $18.00 has gained 72.39%

SLW $10.89 WATCH
Bought for $9.41 has gained 15.73%

CDE $4.68 SELL
Bought for $4.85 has lost 3.51%. Our patience has come to an end. The geopolitical shadow hangs heavy on CDE, which has resulted in the market perception of this stock turning from exciting to dull. CDE may well come back and has recently made a great effort to regain lost ground. However we feel that this recent upward move could be short lived so we will go back to the sidelines and watch how it develops from here on in.

SSRI $36.05 BUY
Bought for $19.98 has gained 80.43%
The average gain for the above silver stocks is 44.39%. We try to invest in ‘quality’ silver stocks and expect them to rocket as and when silver takes a run at $20.00, which we believe, is imminent.

EPL $0.80 HOLD
Bought for $0.53 has gained 50.9%. This stock has a reputation as a project generator with the ability to develop and then spin off a project. Investing in EPL is a bet that their management can continue to surprise by way of innovation.

Our research continues but it is difficult to better the above list.

For now though we are content to hold and enjoy as steady progress is being made.
We are expecting silver to move to higher ground and do it very soon so hang on in there we also expect the above stocks to move dramatically higher along with silver.

25 February 2007