I've looked at production, reserves and cash flow, etc before at SLVC. I'm always open to a better alternative to AG. Their big Mexican mine is the 100%-owned Santa Elena Mine. It is expected to 'open pit' recover 5,000,000 oz of silver over a 6.5 year mine life.
So you must already see the problem. AG already has an average mine life approaching 20 years and will increase production from 10 million oz to 16 million oz by end of 2014. They are already the most efficient silver producer in the industry. Therefore, why would I sell shares of AG to buy SVLC??
Please find me a better alternative to AG and I'll review.
Note: I do own AUNFF but I wouldn't rate it better than AG at this point in time.
Funny I own both as well, and consider FM my primary. I own a fair amount of AUNFF also, but think of it as a cheaper almost equivalent...but not better. Well, maybe slightly, as the shafter in in the US. I also own tiny amounts of WS.TO and AXU
I like SVLC too. I wouldn't call Santa Elena "big." Its a solid operation, but not big. They are going to double throughput with no dilution so good things should happen to their stock price in the next year or 2. The real deal-maker for SVLC will be if La Joya turns out to be highly economic and feasible. Only that would make it worthwhile for AG imo.
AUNFF has execution/startup risk at Shafter now, that's why its 70 cents off from $1-1.25 level of last year. With $350M MC and 6M ozs coming it seems dirt cheap. La Negra is a low cost long life mine. It's not junk. They have 500M shares, but are consolidating the shares 1 for 8 so they are fixing that problem. Company should get NY listing soon and trading at $5+ will up institutional interest a bunch.