NEW YORK, NY--(Marketwire -09/09/11)- The Paragon Report examines investing opportunities in the Silver Industry and provides equity research on Silver Wheaton Corporation (NYSE: SLW.TO - News) (TSX: SLW.TO - News) and Silvercorp Metals, Inc. (NYSE: SVM - News) (TSX: SVM - News). Access to the full company reports can be found at:
A noticeable drop in worldwide manufacturing data has led to concerns regarding industrial demand for silver. The global manufacturing purchasing managers index released by JPMorgan and Markit, a closely watched indicator of world manufacturing output, fell from 50.7 in July to 50.1 in August, and is now only a small fraction above the level of 50 that is traditionally taken to mean contraction.
According to The Silver Institute, more than half of the demand for silver is industrial. Silver can be used for batteries, brazing and soldering, bearings and high-end electronics. Silver is also used in cutting edge solar technology. A recent study commissioned by the Silver Institute titled "The Future of Silver Industrial Demand" argues that "the rise in solar power is arguably the most significant development for silver demand in recent years. This year, demand is expected to reach nearly 70 million ounces, an increase of around 40 percent year-on-year."
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Silver Wheaton recently revised its 2011 attributable silver equivalent production guidance from 27 to 28 million silver equivalent ounces to 25 to 26 million silver equivalent ounces, including 15,000 ounces of gold. Silver Wheaton says the revised guidance "is primarily attributable to a slower than anticipated production ramp-up at Goldcorp Inc.'s world-class Peñasquito mine located in Mexico."
Silvercorp Metals saw a 31 percent improvement in silver production costs in its most recent quarter. The company posted Record fiscal first quarter revenues of US$69.7 million, representing a 90% increase compared to the same quarter of fiscal 2011.
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