Pan American Silver
The management at Pan American Silver (Nasdaq: PAAS) seem to be quietly building a solid company while most investors in silver and other precious metals look elsewhere for their profits. That, I think, is a mistake.
When talking about increasing their silver production by 31 percent in the third quarter, while generating 6.4 million ounces of silver - a record - they are more than poised to perform strongly for years ahead, and that doesn't even include the acquisition of Aquiline Resources Inc., which has an estimated 632 million ounces of silver in its Navidad project in Argentina.
For all of 2009 the company produced 23 million ounces of silver at a reported $5.53 an ounce; a very good number.
But Pan American Silver isn't only into silver, as its gold production skyrocketed in 2009 by 331 percent.
The best part though, is even with their increased production and available resources, they are being managed well with cost being shaved significantly during the year.
With these facts and other numbers showing a company growing and expanding, while maintaining its handle on costs, and you have all the pieces for a great investment.
For some reason many people simply miss this with Pan American, and that's to their detriment over the long haul.
Pan American Silver
No comments:
Post a Comment