This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Silver Holdings On Rise As Year Draws To A Close

"We've suspended new investment in Navidad until we have legislation in Chubut that will allow us to develop the project," said Pan American Silver Argentina's business director, Ricardo Zarandon.

Chubut's provincial governor sponsored legislation that will introduce a new 5-percent net smelter-return royalty on top of the current royalty of 3 percent, according to a report by The Wall Street Journal. Earlier this year, the company stated that it would suspend further investment in the project if the legislation came into law.

At the time, Pan American noted, “[t]he Company's initial review of the effects of the proposed legislation, when coupled with the current inflationary environment in Argentina, indicates that the increased provincial participation will render the Navidad project uneconomic at any reasonable estimate of long-term silver prices.”

No bill has been passed, but the uncertainty has clearly proven too much for the company. Pan American has spent over $82.5 million developing the project over the past two years, according to its website.

Metals Channel reported that a study of analyst recommendations at major brokerages shows that Silver Wheaton (TSX:SLW) is the number one broker analyst pick on the Metals Channel Global Mining Titans Index. The index is comprised of the top 50 global leaders from the metals and mining sector, and the companies on it are continuously updated to reflect the changing market environment.

Based upon Silver Wheaton's current agreements, its forecast attributable production in 2012 is approximately 28 million silver equivalent ounces. That amount is expected to rise to 48 million silver equivalent ounces by 2016.

Junior company news

Santacruz Silver Mining (TSXV:SCZ) announced the completion of an updated NI 43-101 mineral resource estimate on its Rosario project, located in Mexico's Charcas Mining District.

It listed highlights including measured mineral resources of 270,000 tonnes grading 210 g/t silver, 0.94 g/t gold and 3.69 percent zinc. Indicated mineral resources were recorded at 711,000 tonnes grading 163 g/t silver, 0.88 g/t gold and 2.6 percent zinc.

The company confirmed that both the Rosario I and II veins are open in all directions, with 2 kilometers of untested NE-SWE strike length. Limited drilling below the 200-meter level provides potential to further expand the resources.

2 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs