SST now has 300M+ ounces silver resources!Silverstone now has over 300 million ounces of silver resources
Silverstone may now be in the top 5 companies as far as silver resources are concerned. Let's review what we know so far:
108M ounces - Silverstone's various properties
193M ounces - Lundin Mining's two applicable mines (all categories)
12M ounces - Capstone to sell all Cozamin silver for 10 years
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313 million ounces from all sources = total
...and this figure is incomplete and growing.
To put this into context, First Majestic Silver is working hard to confirm 200M ounces of silver resources by the end of the year, also a commendable goal...but I am trying to put this into context here just how big Silverstone's latest transaction is.
By the stroke of a pen, with no private placements, with no increase in the public float, Silverstone has vaulted over most junior silver producers and into the big leagues as far as silver resources are concerned. Few silver-focused companies have more silver resources than Silverstone.
Now let's look at the bigger picture. Silverstone is continuing to review new silver stream purchases. These purchases are likely to be life-of-mine transactions, where all silver resources will eventually be sold to Silverstone. Silverstone president Darren Pylot said in yesterday's conference call that further purchases will be maybe one per quarter. At that pace, by the end of 2007 Silverstone will have two more silver steams and therefore be able to count all the silver resouces of the applicable mines. If these mines average 100M of silver resources each, Silverstone will reach 500M ounces of silver resources. Nobody will be able to match Silverstone in terms of the speed at which its silver resource holdings are growing. All this year. As investors start to understand that Silverstone is already in the big leagues as far as silver resources are concerned, this stock is going much higher, and this momentary "silly season" of stock trading at below $3.00 will be finished forever.