Silver on the rise
For example, stocks of ETPs (Global Silver Exchange Traded Product) increased by 297 million ounces in the third quarter of 2020. Compared to the same period last year, this is almost a tripling. Silver bars and coins are in extreme demand worldwide. Especially in the U.S. and in Germany, sales figures showed double-digit growth in the first nine months of the current year, according to the Silver Institute. In contrast, the silver consumed in industry will be around ten percent below the previous year's consumption in 2020, according to estimates due to the pandemic.
The silver country par excellence is Mexico. It scores with great mining friendliness, strong silver resources and, from a climatic point of view, can be mined all year round. The projects reach production maturity faster than in other countries. The population and the government, which is happy about tax revenues, benefit through jobs and infrastructure.
One silver company that has been producing successfully in Mexico for years is Endeavour Silver. The three silver-gold mines produced approximately 942,000 ounces of silver and nearly 10,300 ounces of gold in the third quarter of 2020. For a fourth project (low investment costs, low operating costs, short payback period) a preliminary feasibility study is already available.
There are also lucrative silver properties outside Mexico. Summa Silver owns the Belmont Project in Nevada near the Tonopah district. This district was discovered in 1900 and became famous. Drilling has already yielded very encouraging results. The Mogollon property in southwestern New Mexico is still in Summa Silver's portfolio. Gold and silver have been produced here in the past.
The latest company information and press releases from Endeavour Silver (https://www.resource-capital.ch/en/companies/endeavour-silver-corp/) and Summa Silver (https://www.resource-capital.ch/en/companies/summa-silver-corp/).
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