Silver Mines Ltd is a stock to keep a watch on. There are several reasons why I like this stock. There has been very little modern exploration in this area of NSW for silver, and the Mole Granite area in particular. Most silver exploration in the area has focused on the Drake area, and to some extent around Hillgrove. The company is testing a number of anomalies but activity will centre on the Webbs Consol mine. This project is speculative at this time despite the VERY high grades received. The other positive aspect of this project is the VERY high grade would easily justify the trucking of ore to Texas, Qld (just 40km away) to Macmin's operating mine.Given that I expect silver prices to perform at least as well as gold, and this project need not require any significant mine infrastructure, and will be a very selective high grade operation, as soon as this project demonstrates continuity of high grade ores to 200m, I would be inclined to jump on this stock, as you can be sure a toll treating arrangement with Macmin would not be far off. For more info see Google Finance and my stock forum.
-----------------------------------------Andrew Sheldon www.sheldonthinks.com
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