silver-mining

Carlos Slim Catches Gold Fever

Carlos Slim Catches Gold Fever

Carlos Slim beat both Warren Buffett and Bill Gates in stock market performance last year. The reason: a hell-bent plan to start a brand-new gold and silver mining company in Mexico. Slim’s publicly disclosed holdings jumped 37% to $70 billion in 2010, according to data compiled by Bloomberg . Meanwhile, Buffett helped return a 22% gain for Berkshire Hathaway last year, and Gates’ Microsoft fell, hurting his overall annual returns even as he spread his investments into other sectors… The World’s Richest Man catches gold fever Slim — who made his fortune by building one of the world’s biggest telecommunication empires — has recently been making significant investments in gold and silver, particularly with a focus on precious metal mining in Mexico. Carlos Slim became the world’s richest man in 2010 with an estimated net worth of $55 billion. And a new spin-off mining company may help him widen his lead atop the global wealth list… Back in August, Slim’s holding company, Grupo Carso, S.A.B. de C.V., announced it would spin off a new precious metal mining company that would be focused on gold and silver mining in Mexico. The news added billions to Slim’s already ridiculous fortune as the plan to spin off the new company sent shares of Grupo Carso soaring in 2010, making it his best-performing asset last year. The new company (called Minera Frisco) produced nearly 200,000 ounces of gold and 5.5 million ounces of silver from its Mexican projects in 2010. Frisco recently reported plans to spend nearly $750 million this year to ramp up gold and silver production. The company estimates production from new mines in Mexico will more than double the company’s gold production to 440,000 ounces and nearly quadruple its silver production to 19.1 million ounces in 2011. Shares of Minera Frisco began trading Mexican Stock Exchange at the beginning of this year. But Slim and his family received nearly 80% of the new shares of Minera Frisco, and the stock is very thinly traded. Most analysts and investors will most likely avoid covering or owning this stock… However, there are many suitable alternative companies with a focus on gold and silver mining in Mexico. The largest of Minera Frisco’s publicly-traded competitors is the London-based silver major Fresnillo plc (LON: FRES) . Fresnillo plc Exchange: Symbol London: FRES P/E 39.76 Share Price 1,450 GBX Divided 5.90 GBX Market Cap 10.41 Billion GBP Yield 1.12% Fresnillo is the …

Continue Reading »

Coeur d’Alene (CDE): A ‘Classic Turnaround’

Filed in Bank Gold, commodities, Debt, o, silver, silver-mining by on November 19, 2010 0 Comments
Coeur d’Alene (CDE): A ‘Classic Turnaround’

Filed under: Newsletters , Commodities , Stocks to Buy “Silver stocks are exploding upwards; one beneficiary is Coeuer d’Alene Mines ( CDE ), a classic turnaround story,” says Mark Skousen . The editor of The Turnaround Letter explains, “Despite the recent run-up, still is selling at a 60% discount from its high of $60 a share back in 2006. “Although it was founded in 1928 and is one of the oldest silver mines in the famed northern Idaho panhandle, it’s been a money loser for years and heavily in debt. Continue reading Coeur d’Alene (CDE): A ‘Classic Turnaround’ Coeur d’Alene (CDE): A ‘Classic Turnaround’ originally appeared on BloggingStocks on Fri, 19 Nov 2010 10:00:00 EST. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments

Continue Reading »

Hecla Mining (NYSE:HL) Explodes as Silver Ready to Shine

Silver has been lagging the price movement of gold for some time, but that has started to change lately, and silver miners like Hecla Mining Company (NYSE:HL) are starting to move up with silver prices, as gold investors look to alternatives as gold prices soar to record levels on consistent basis.Historically when gold reaches certain levels, investors tend to migrate to silver because it will

Continue Reading »

Silver Wheaton (TSE:SLW) Amends Goldcorp (TSE:G) Silver Agreement after San Dimas Deal

Silver Wheaton (TSE:SLW) (NYSE:SLW) has amended its agreement which they had with Goldcorp (TSE:G) (NYSE:GG) before they sold the San Dimas gold-silver mine to Mala Noche Resources (VAN:MLA). The prior agreement, or the existing one before the company changes hands, allowed Silver Wheaton to acquire all the silver produced there. That came to 5.1 million ounces of silver produced at the mine in

Continue Reading »

This exchange traded fund's holdings include leading silver mining …

Silver prices tend to rise along with gold prices. That’s because when gold prices soar, as they have lately, investors see silver as less of an industrial commodity and more as a precious metal. Sometimes known as β€œpoor man’s gold ,” silver … If you want to invest in silver, we think the best way to do it is through silver-mining stocks . We recommend staying away from silver bullion , certificates representing an interest in bullion , and other silver bullion alternatives …

Continue Reading »

Hecla Mining (NYSE:HL) Declares Quarterly Dividend

Hecla Mining Company (NYSE:HL) announced their Board of Directors has declared a regular quarterly dividend for their Series B Cumulative Convertible Preferred Stock.For each share of those shares, the owner will receive $0.875, equivalent to about $138,000.Shareholders of record as of June 15, 2010 will be paid on July 1, 2010. Total shares outstanding of Preferred B Stock is 157,816.Also

Continue Reading »