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Silver Wheaton Corp. Message Board

  • stockscess stockscess Sep 19, 2005 11:20 AM Flag

    This was on's Briefing Trader this morning.

    09:46 SLW Silver Wheaton: New High Profile (4.33 +0.18)

    Shares of Canadian based Silver Wheaton Corp (SLW) rallied Friday on nearly double the average volume. The co is the only pure play silver mining co in the market (meaning 100% of its revenues come from silver production). SLW has agreed to purchase all the silver production from the Luismin Mines in Mexico and the Zinkgruvan Mine in Sweden. SLW, which is debt-free and has roughly $33mln in cash, expects to sell approx 9.5 million ounces of silver in 2005 at a cash cost of $3.90 per ounce (Dec silver futures closed at $7.275 on Friday on the COMEX which means SLW stands to make nearly $3.375 per every ounce it sells). What is interesting about SLW is that the co is completely unhedged, which means the co will directly benefit from any rise to the spot price of silver. Is a rise in silver spot prices in the card? Consider this-- Hedge fund managers and other large speculators have increased their net long position in New York silver futures in the wk ending 9/13 according to the U.S. Commodity Future Trading Commission data. With gold prices hitting new 17-year highs, silver stocks like SLW may attract more attention (silver is often considered the step-child of gold). While SLW currently has no earnings, the co is slated to earn just under $16 cents per share this year according to consensus estimates. Note: SLW will have a booth at The Silver Summit from 9/22-9/23 in Spokane, WA-this summit gathers the general public and experts together to discuss the issues of silver mining, silver stocks, silver investments, silver strategies, silver currency, silver medicine, and the future of silver in society.

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12.08+0.40(+3.42%)10:13 AMEDT