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Silver Wheaton Corp. Message Board

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  • JohnnyCanuk JohnnyCanuk Jan 9, 2006 11:06 AM Flag

    La Copia silver flow ...

    From the Q3/05 financials ...

    "At La Coipa, production for silver was 1.9 million and 0.5 million ounces for the nine and three months ended September 30, 2005, respectively, and 2.6 million and 1.2 million ounces for the comparative prior-year periods."

    The "1.9 million ounces" was for 9 months, not a full year, my bad ...

    So your "3 million" ounces is closer to reality ... and a possible "6 million ounces" if SLW can get the whole thing ...

    I'm not overly concerned at the loss there and the high cost as that may actually be deliberate ... as you are probably aware, in mining during the good times of high metal prices, the management will deliberately add lower grade ore into the mix at the same volume throughput ... this way, they can benefit from ore grades that are generally uneconomic to mine at lower metal prices ...

    Yes, it hurts immediate earnings and the stock price by processing lower overall head grades, but it can greatly extend mine life and better maximize the overall return on the deposit ...

    Good trading ...

    jc

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    • If SLW where to try to acquire the Kinross 50% that would put SLW in the mining biz. I do not get the impression that Telfer is looking to turn SLW into a miner. Just my opinion. SLW will skyrocket just with the holdings coming on board through the PDG deal. The Cash on hand will most likely be used for more sweetheart deals from Telfer GG rather than venturing out on their own. IMO

      • 1 Reply to couplover
      • "I do not get the impression that Telfer is looking to turn SLW into a miner."

        I wouldn't be too sure about that ... the stated objective of the company as per the most recent info on their web site ...

        ***************************

        US $115 million in cash

        To acquire additional silver assets

        **Purchase agreements

        **Producing mines

        **Development projects

        ********************************

        This was put up on their company web site just a few days ago and let me repeat and highlite that middle one above ...

        *****Producing Mines*****

        *****Producing Mines*****

        *****Producing Mines*****

        Lol ...

        While purchasing silver streams is nice, they are also very expensive because you are paying somebody for their estimated silver profits for the next 20 years right away up front ...

        We should know something by the end of Feb, but don't count out the possibility of SLW becoming a miner ... personally, I hope they just buy the silver stream, but ...

        jc

 
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