And that is why I own shares in both these rising silver stars. AG just released quarterly and full year results with forward guidance indicating silver production will grow in 2013 by more than 34%. I think EXK's numbers are going to be mimicking those of AG. Silver mining companies such as these 2 represent incredible value, especially in today's depressed PM mining share prices. When, not if, silver prices start to climb dramatically, then these 2 silver miners should soar!
"7:31AM First Majestic Silver achieved record production of 2.6 mln silver eqv ounces (2.3M silver ounces) in Q4; produced a record 9.1 mln silver eqv. ounces (8.3 mln silver ounces) in 2012 (AG) 19.98 : Co announces its Q4 and full year 2012 production results. The total production in 2012 reached 9,110,452 equivalent ounces of silver, representing a 20% increase over 7,562,494 equivalent ounces of silver produced in 2011. The equivalent silver production for 2012 consisted of 8,260,434 ounces of pure silver, representing a 14% increase from the prior year, 13,240,889 pounds of lead, representing a 68% increase from the previous year, 4,952,899 pounds of zinc, representing a 2,671% increase from the previous year, 18,329 tonnes of iron ore, representing an 85% increase from the previous year, and 4,221 ounces of gold, representing an increase of 175% compared to the previous year.
Total silver production in 2012 as a percentage of total metal production amounted to 91%. The co has elected to provide guidance for 2013 production estimated in a range from 12.3-13.0 mln ounces of silver equivalent or 11.1-11.7 mln ounces of pure silver. On a year-over-year comparison, this 2013 estimate represents an increase of 34% to 42% of pure silver production maintaining First Majestic's status as the silver industry's growth leader."
Good post as internals will have much to do with PMs this year. With that said, I still would stay away from Barrick. Mapping has not shown strong activity with some of their mines in the last 4-6 months. Pollution problems with chemicals and dust, along with water problems. At one site where they were delays, problems with dust is still an issue. Investors should reach out to locals and Spanish local news articles of that area. This should be good for both EXK and AG - demand/price.