NEW YORK, NY--(Marketwire -02/21/12)- Silver stocks have been on a tremendous run in 2012 with precious metals demand showing no signs of slowing. The Global X Silver Miners ETF (SIL) is up more than 15 percent this year -- keeping pace with the iShares Silver Trust (SLV) which is up nearly 20 percent in 2012. The Paragon Report examines investing opportunities in the Silver Industry and provides equity research on Pan American Silver Corporation (NASDAQ: PAAS - News) (TSX: PAA.TO - News) and Endeavour Silver Corporation (NYSE: EXK - News) (TSX: EDR.TO - News). Access to the full company reports can be found at:
While industrial silver demand from emerging markets was strong in 2011, Walter de Wet, strategist in London for South African bullion and investment bank Standard Bank, warns that China's new demand for silver "is not very strong at the moment," highlighting a sharp decline in Shanghai premiums -- over and above the London price, which acts as the world benchmark -- down from as much as $5 per ounce last summer to below 50 cents in February.
Standard Bank argues that Chinese warehouses currently hold enough silver to meet the country's industrial demand for 15 months. That surplus has risen sharply from 12 months' worth in 2011.
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Endeavour Silver Corp., a mid-cap silver mining company, focuses on the growth of its silver production, reserves, and resources in Mexico and Chile. The company reported higher fourth-quarter silver and gold production, helped by the capacity expansion at its Guanajuato mine in Mexico. Silver production from its Guanacevi and Guanajuato mines rose 25 percent to 1,120,780 ounces and gold production rose 45 percent to 7,045 ounces.
Pan American Silver Corp. engages in the exploration, development, extraction, processing, production, refining, reclamation, and operation of silver properties. The company will release its unaudited 2011 fourth quarter results and its 2012 consolidated production forecast on Wednesday, February 22, 2012 after market closes.
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- iShares Silver Trust