CHINA'S SECRET SILVER SOLUTION - A
Under pressure from China's compressed industrial
revolution - and millions of buyers who see it, as a store
of wealth - silver prices will spike
much higher than most can people believe. Ironically,
the solution to this precious-metals crisis appears to lie
in China's own back yard.
INITIAL OBSERVATION: China is wrapping its heretofore-inefficient
mines in private market incentives because it must
produce at elevated rates to feed the beast, its powerfully
compressed industrial revolution. Disciplined and ongoing
privatization policies have already elevated China from 5th
to 4th among all silver producing nations; additionally the
jump in production is significant, boosting China's production
by almost 2 million ounces from 2002 to 2003. According to
certain, top-secret information that has just come to my attention,
certain of China's younger and better producing mines - the
ones that contributed the most to China's elevated silver
production - are seen to be surrounded by other hugely promising
silver strikes. If so, these would constitute what would certainly
be among the most compelling investment opportunity I've ever
had the privilege to point out to my readers.
I have been criticized by some readers for not providing enough
investment ideas and have often responded by pointing out
that in the silver markets, unlike gold, there is a very small
universe of companies to choose from - and only a few regions
of the world that offer meaningful
opportunity for silver exploration and development.
Lacking a broad universe of producers and a wide array of
properties, I am often reluctant to offer up "new ideas"
- worried they may not meet my standards, or those of serious
precious metals investors.
Today, probably for the first time since I've been writing
about the evolving silver boom of the 2000s, I can suggest
a new investment idea to readers with tremendous excitement
and full confidence: China.
China is open for business. China's leaders know they have
to make changes or risk losing the silver they need to support
the country's powerful but compressed industrial revolution.
They're privatizing silver mines and looking for operational
In this special Silver Investor report, I intend to
act as your guide on a journey through a modern industrial
giant - one that will explain why China's silver-mining privatization
offers one of the most compelling investment opportunities
I can ever remember introducing to my subscribers.
China Is Privatizing
INITIAL OBSERVATION: I am informed that strikes around
the mine I am scheduled to visit show similar chemical makeup
and geological patterns. If this is indeed the case, then
estimates of the expanded site hold potential as good as any
North or South American mine. How much could be pulled out
of such a mine? Potentially, hundreds of millions of ounces?
I am writing this report before leaving the beautiful environs
of my Washington state home on Sunday November 21st for a
by-invitation-only trip to Beijing along with many other mining
industry professionals to attend various high-level meetings
with senior government officials and mining bureau representatives.
(Please do not email me asking for names due to the sensitive
nature of the trip and to avoid compromising the security
of those who are traveling with us.)
I look forward to the company of my traveling companions.
Many, like me have sacrificed much personally to cultivate
necessary and important relationships while solidifying the
promise of China's silver mining industry. Upon returning
expect another special report indicating pertinent details
of this trip.
Silver - why should I hide my enthusiasm? I wrote in a recent
report that new China silver-mining initiatives could spawn
a silver stampede similar to what we witnessed in the gold
industry in the 1900s in America. And I have also stated that
we are on the cusp of a kind of explosive realignment in the
price of gold - but one in which silver's price adjustment
will feel more like a "nuclear explosion."
Now I'd like to take this opportunity to state - once and
for all - that it is silver, NOT GOLD, that offers the better
precious metals opportunities in the 21st century!
News reports, for instance, have told of silver purchases
by Bill Gates, George Soros and Warren Buffett. These three
billionaires - usually on the winning side of important investments
- are said to be heavily weighted in silver, thus contributing
an unintentional but implicit endorsement of an unfolding
What do they know that you don't?
I have been among the very few voices shouting about silver's
potential for more than five years now. My readers - the ones
that acted - have been the beneficiaries of a recent near-doubling
of silver prices - but believe me, that is nothing compared
to what is to take place over the next few years.
SILVER HISTORY & OVERVIEW
INITIAL OBSERVATION: While not as expensive as gold, silver
has ignited plenty of passion through the ages. Perhaps the
most well known American defender of silver is the politician
William Jennings Bryant from Kansas who fought against the
New York banker's de-monitization of silver in the late 1880s
and roared that he "would not be crucified on a cross
of gold." Nor will China, it seems. Privatization is
bringing on stream millions of ounces more of silver per year
- an amount that far exceeds in dollar volume what China produces
in yellow money.
Hot Stuff! Then and Now
Silver may well be the "hot" money metal of the
twenty first century, as its use in high-tech equipment continues
to complement its value as money metal. But the beauty and
value of silver has been apparent for thousands of years.
Long known as the "people's" metal and "white
money," silver is economical, and affords the benefits
of gold without the steep a price.
Silver castings and carvings date back more than 5,000 years
on Greek islands and in Asia Minor. In China, silver mines
are traceable to 400 BC. Recent discoveries of silver ingots,
bars and plates date back to China's Tang Dynasty some 1,500
years ago and contain carvings made during casting as well
as tax and labor information.
Workers unearthed silver ingots with carvings and inscriptions
that date back to China's Yuan Dynasty, some 700 years ago.
They made a pact not to tell, distributed the ingots and went
home. Only much later after the story had been leaked, and
with great difficulty were the workers eventually persuaded
to part with their ancient silver ingots. Silver was highly
valued by these workers. Silver is ever in demand!
Privatization Makes Silver More Popular
INITIAL OBSERVATION: Silver is used in a variety of high-tech
applications, making it the precious metal that has to be
replenished every year. High-tech items are only going to
become more popular, putting even more pressure on silver
stocks in China and causing silver prices to spike as they
did toward the end of 2003 and into 2004 - moving up by some
26%. With its silver running low and threatening to starve
the success of the nation's industrial revolution, China's
leaders are sparing no expense to investigate every aspect
of their nation's white-metal resources. This top-to-bottom
scouring of an entire nation for every available silver lode
- large or small - has already unearthed significant investment
opportunities for China investors - opportunities that will
only expand as silver's price pressures become increasingly
subject to speculative money flows along with industrial pressures.
While silver is one of two "money metals," - the
other being gold - it alone is utilized by manufacturing,
especially high-tech manufacturing and must be replaced, in
size, every year. Until recently, the world's silver stocks
and active mines have seemed sufficient, if barely, to provide
both for those who purchase it as a store of value and those
using it for high-tech industrial purposes.
A shift in the supply/demand equation caused by the powerful
awakening of China's economy - and its 1.3 billion citizens
- has called all this into question. China's rural economy
is being powerfully transformed by a compressed industrial
revolution lasting a decade instead of the 70-100 years that
the same process took England and America.
Everything about China - from infrastructure to housing to
education and entertainment - is changing, modernizing and
privatizing with breakneck speed. Revitalized, privatized,
commercial markets are the stars of the show, but communist
officials remain in the director's chair. Their mission is
to integrate capitalism onto a dying communist system with
as little culture shock as possible. It is an increasingly
difficult task, one given that 500 million or so rural Chinese
workers are expressing continued impatience with the progress
- and fairness - of their country's modernization.
The old Soviet leadership's approach to the marketplace consisted
mostly of denying capitalism's strengths before declaring
victory and engineering a quiet surrender. But China's leadership
has decided to build China's wealth rather than redistribute
it, thus enabling private markets, entrepreneurialism and
at least a modicum of human action.
Many more than might be imagined are rooting for China's success.
While it can probably be said that the world's largest corporations
have identified China's 1.3 billion citizens as a critical
additional consumer group, other powerful stakeholders are
also in need of a solvent, peaceful China and are looking
to China to provide expanded generations of those well versed
in the capitalist system of free enterprise.
The West's various Treasury officials - especially anyone
associated with the U.S. Treasury - are giving China all the
moral support they can. After all, the Chinese government
and affiliated institutions are critical purchasers-of-last-resort
at U.S. Treasury auctions now that the Japanese are tapped
out and the Europeans have turned sullen. Much is gained,
and by many, should China prosper.
Demographic Danger, Leaders' Balancing
INITIAL OBSERVATION: China, Inc.'s leaders, those of its
new business class are said to be action-oriented, prone to
dynamic optimism and quick thinking. They are not hard men;
but certainly they must be courageous, willing to do the tough
work of building back up silver stocks that flat-lined at
the end of 2004, according to the Silver Institute. Silver
is critical to China's economy and to its hyper-efficient
industrial revolution, a massive enterprise that some have
accused of being the sole culprit in the tightening silver
supplies from 1998 onward. Each year, China's industrial appetite
swallows additional millions of ounces of silver - and the
nation is only now beginning to respond to this critical challenge.
There is a specter haunting China! It is one of the country's
huge masses of working poor and additional millions of frustrated
male adolescents gathering together to seek sudden change.
The uneasy prospect floats like sullen wisps of fog through
Beijing's vast, public places and lurks moodily behind many
government proclamations rationalizing - and justifying -
China's newfound competitive approach.
Are the politically powerful ambivalent? From the first uncoordinated
moves towards decentralization of government authority in
the 1970s, to the sudden and unexpected unleashing of pent-up
entrepreneurial energies in the 1980s, to adoption of more
formalized policies in the '90s that recognized the competitive
changes the initial policy of regional decentralization had
wrought, China's leaders have at various times encouraged,
accepted, tolerated - and occasionally lashed out against
- the changing face of communism.
Will it all prove too much for China to handle? Bottlenecks
and silver shortages - signs of things to come? China's silver
usage is up, and has been every year, currently hovering around
40 million ounces, though there are estimates it could easily
rise to 100 million ounces. Even then China would not be utilizing
as much silver per capita as many Western nations.
The Silver Institute points out the following about the industrial
uses of silver ("fabrication): "A primary factor
affecting the price of silver is the available supply versus
fabrication demand. In recent years, [the world's] fabrication
demand has greatly outpaced mine production forcing market
participants to draw down existing stocks to meet demand.
As these available sources continue to decline, silver's fundamentals
continue to strengthen."
Fabrication demand is an obvious reason why silver is in such
short supply. A recent press release by mining company and
silver-producer Silver Standard (which recently decided to
expand to China) explains it this way: "The Chinese economy
has grown at an astonishing pace
with annual silver
consumption increasing from 24 million ounces to 47 million
ounces. China appears to have an insatiable demand for all
metals [including] silver.
An analysis of China's use of silver in metric tons reveals
that annual silver consumption grows year over year, as follows
below, at an average rate of 10%
|2004: 2200 metric tons/silver
|2003: 2000 metric tons/silver
|2002: 1800 metric tons/silver
|2001: 1500 metric tons/silver
This kind of growth is technically unsustainable.
Just now, the Silver Institute's 2004 World Survey reveals
that China's silver demand has finally surpassed production,
putting China formally in deficit. Since China's main fabrication
use for silver is electrical components/ electronics (with
brazing alloys running second) chances are that so long as
the country remains a leading industrial producer, its silver
usage will grow along with its silver deficit.
There seems little doubt - at the Silver Institute anyway
- that China is behind tightening silver stocks. "
Since 1998, the Chinese have made a substantial contribution
to global silver supplies," reads a supply/demand summary
in the 2004 Survey, "via the run down of domestic stocks
of the metal."
What probably is more troubling to Chinese officials is that
China's own silver production has remained fairly flat for
four years in a row. World production, too, has been flat
for the first half of the 2000s. When production is down,
China faces the need to push even more strongly for increased
Monetary Use of Silver Adds to Demand,
INITIAL OBSERVATION: China's dedicated millions of workers
season their high-tech production with silver - not a lot
but enough, over a year's time to add to up a sizeable and
significant number. Now a long-delayed reaction is taking
place. Silver stocks remain down while prices begin to rise,
first by pennies, then faster and faster. A full-blown buyers
panic is setting in and soon no one is prepared to say how
high silver will go, let alone gold. One day finally, a top
is reached; the market takes a breather and then begins drift
in a more normal fashion. Dazed investors poke up their heads
and attempt to calculate their losses. Others laugh and talk
animatedly - investors who understood the cyclical nature
of the marketplace and placed their investments accordingly.
Now they are rewarded. Silver has peaked at $100 from its
start under $4. Gold has peaked at $2,000 from a start of
somewhere around $250. These numbers work out to results that
are almost exactly the same - allowing for inflation - as
the results turned in at the end of the great commodities
bull run of the 1970s. As of this writing, the silver/gold
ratio is something like 50-to-one, leaving plenty of room
for silver to outstrip gold, power ahead and do even better
than in 1979, relative to gold.
Another demand straining Chinese - and world - silver supplies
has to do with its intrinsic value as a money metal, its ability
to retain value during periods of high inflation as well as
high growth and high inflation and low growth. It seems the
2000s are struggling with the same low growth/ high inflation
scenario (some call it "stagflation") as the 1970s.
Toward the end of that decade, silver peaked at $50 and gold
at $800. Contrast that to today's prices, where silver is
around $7.50 and gold still fairly close to $400.
Silver and gold are famous for maintaining a price ratio with
each other of approximately 15 to 1 for century upon century;
it has only been in the 20th century that this ratio ceased
to hold. However, in the 21st century I expect the ratio to
achieve a ten to one ratio, highly favoring silver as a vital
industrial commodity and wealth maker! A 2004 Silver Institute
graph of precious metals and copper prices starting in October
of '03 reveals that the price of silver now tracks the price
of copper more precisely than gold. This means that available
stocks of silver are being purchased, along with copper, primarily
for industrial purposes.
The bullish commodity trend in the 1970s lasted nearly a decade
- with some hesitations - and there is no reason to believe
the 2000's version is going to be any shorter-lived than previous
ones. As of this writing, the silver/gold ratio is approximately
50-to-one, leaving plenty of room for silver to outstrip gold
and close the price differential rapidly. While the distortion
of the silver/gold ratio has happened before, it takes an
extraordinarily powerful surge in demand to do so. One that
China has initiated and will sustain.
Below is the demand-side conclusion to which we are inevitably
1) The combination of a rapidly declining U.S. dollar causes
millions to turn to silver as a store of wealth; in large
part supported by U.S. and European banks' focus on expanding
credit demand around the world.
2) China's accelerated industrial revolution will continue
to demand a greater share of the world's silver supply - increasing
demand for electrical power (superconductivity- silver use),
Transportation (MagLev train- silver use), Water purification
(silver use) and eventually, into aeronautics and space applications.
3) China's untapped domestic potential for new exploration
and development make the future price of silver go....
- prices blown sky high - still the indispensable metal for
PRESENT-DAY ANALYSIS OF CHINESE SILVER DILEMMA
Sustaining Silver - Buy or Develop?
China's governmental control over the silver markets and
mining has eroded and now it is the turn of private markets
to try invigorate Chinese silver production - not by regulating
supply and demand but by setting ambitious but reachable goals
and reaching them. If this can be accomplished, then the decision
of the government to develop its silver mining using domestic
stores of value will look wise indeed. Meanwhile, China's
mining companies will soon have a wonderful new 500-acre industrial
zone. in which to discuss the inevitable changes in the silver
market and to celebrate the private-market victories that
certainly should be celebrated. The industrial zone is being
built by private funds and will, according to project
officials, "enhance the competitiveness and status of
the Chinese silver industry in the international market."
According to a report by the Silver Institute, Shanghai was
chosen as a silver center because of its strength as a center
of business and finance; the development will be supported
by an existing infrastructure including telecommunications,
roads, communications, gas and electricity.
China's leaders seem recently to have made a two-part decision
regarding raw materials. The first part involves overseas'
purchases that allow China control of critical markets where
its domestic stockpile is low. This would explain, for instance,
the recent purchase of Noranda, the world's largest base metals
The second part involves exploration and development of raw
material domestically - if enough of the key element seems
Even here, however, China has a problem - at least it did
so long as it stuck to developing multi-year industrial plans,
just as the Soviets did. But when it came to mining, these
plans were either useless or counterproductive because they
ended up funding mines that failed a few years later. Yet
these failing mines still received generous development revenues
as if nothing had happened - at the expense of promising,
mines that were starved for capital because their potential
was not established when the multi-year plan was finalized
by the Chinese bureaucracy.
Based on my invitation to China, it is my perception that
Chinese mining officials are feeling more acutely than ever
the need to reach out to others in the profession outside
of China to help with the rationalization and professionalization
of their mining industry. Like almost everything else in China,
this is not exactly a new trend. It's been going on - with
starts and stops - for over 15 years in various configurations.
Perhaps a little history is in order
The Chinese government first became serious about encouraging
foreign investment in China early in the 1990s - and according
to Goldletter International, "One of the specific aims
of the 1990s initiatives was to try and attract foreign investment
into the Chinese gold mining industry. However, the lengthy
and complex approval process, the limited and poor quality
of designed exploration projects, coupled with a legal system
that was unclear about ownership and without guarantees of
tenure, was enough to deter most candidates. In addition,
the mining taxation code did not encourage investment."
The Chinese kept trying. Eventually, late in the 1990s, they
hit on the idea of transferring federal authority to China's
provinces- making the process of foreign investment in China's
mines more flexible and inviting. Now China's provinces -
as Goldletter International tells us - "[had] obtained
the autonomy to approve Sino - Foreign Joint Ventures for
mineral exploration and mining." Almost immediately this
new version of the law began attracting foreign corporations
including many public Canadian mining companies - most with
a focus on gold - eager to partner with provinces via Sino-Foreign
With some changes, the Sino-Foreign Joint Ventures approach
is still in force today and remains a fairly customized procedure.
Some proposed ventures need federal government approval while
others don't - mostly depending on whether the project's size
exceeds $30 million and does or does not involve precious
metals. The provincial government in question and simply registered
with the central government can approve projects that do not
demand Chinese central government approval.
Recently there have been some meaningful elaborations. Again,
according to Goldletter International, "In December
2003, the Chinese Government issued a white paper on China's
Policy on Mineral Resources which stresses that China will
depend on exploitation of domestic mineral resources to guarantee
the needs of its modernization drive. ... Sino-foreign co-operation
in the exploration and exploitation of mineral resources will
be increased. ..."
You can see from the above information that my statement at
the beginning of this report that China is "open for
business" is generated by close observation of actual
recent events. China is becoming increasingly pro-market and
business-friendly, at least as of this writing.
When it comes to the silver industry, additional initiatives,
not mentioned above, include the following:
Creation of exchange-oriented private silver trading;
The removal of a bank monopoly regarding the selling of silver;
The lifting of import restrictions
Contemplation of further significant actions intended to rationalize
the silver market in light of increased activity and overseas
Until very recently, China's provincial government's joint
venturing occurred primarily with gold companies. But now
China is actively seeking mining companies with a special
focus on silver. Recently, several major, North American silver
mining companies - Minco Mining & Metals Corporation (Minco)
and Silver Standard Resources Inc.- announced a strategic
alliance to jointly pursue silver opportunities in China.
Under terms of the strategic alliance, Silver Standard will
invest C$2,000,000 in Minco Silver to acquire a 20% interest
in the new venture. Silver Standard will have preferential
purchase rights to participate in future financing of Minco
Silver in order to increase its interest up to 30% in Minco
Silver. As part of the strategic alliance, Minco Silver will
be the exclusive entity for both Minco and Silver Standard
to pursue silver projects in China.
I am pleased to see that Silver Standard is headed toward
China. They are successful and well run firm, and they will
do well in China. When I first recommended Silver Standard
the stock was at $2. Today it trades as high as $15.
The gates are open. Foreign silver investment has finally
come to China.
CHINA'S SECRET SILVER SOLUTION
The Mystery Unfolds
INITIAL OBSERVATION: China has proven out its silver promise
with numerous producing mines and others that are just starting
to come on stream - raising potential production by another
2 million ounces or so in 2004. But far away from the factories,
the mines and the stores, gathered in airy conference rooms
high in the sky, China's top planners scrutinize secret geological
maps that suggest mineralization of such vastness that it
makes no sense to fund outside exploration for another 50
years - only to dig and dig and dig. As the silver comes up
and the ounces mount, China will begin to confront the totals
of Mexico and Peru, the world's biggest silver producers.
Can China's silver output surpass 150 million ounces? Will
the Chinese nation celebrate its destiny - as hosting the
richest store of white metal the world has ever seen?
I have indicated - at least when it comes to silver - that
China's leaders have opted to exploit what China may possess
internally rather than acquire outside mines, mining entities
The question I must ask and then hope to answer at least partially
during my travels in China (knowing such an answer may not
ever be fully forthcoming) is how did those in charge of silver
production and extraction in China reach their conclusions?
Someone, somewhere, knows - or believes - China's silver regions
are fertile enough - once privatized anyway - to provide for
China's manufacturing and monetary needs well into 21st century.
This is an astounding conclusion!
Conceptually, the part of China's rolling privatization that
holds the most promise is the obvious inefficiency with which
its government-managed silver mines were operated. Most of
us can agree that even good governments are rarely equipped
to handle sophisticated industrial projects - especially ones
as tricky as mines. China's government, as previously constituted,
anyway, was, from most accounts, nothing like a good government.
China's current production - fourth in the world - was thus
achieved under tremendous handicaps imposed by the political
structure. It was achieved within the context of rigid multi-year
plans and without profit incentives such as bonuses and options
But here is the point that those who are interested observers
of Chinese silver-mining privatization should ask themselves:
If China, with all its problems, could generate enough silver
for a fourth-place ranking under the previous regime, then
what might be accomplished when these silver producing properties
are properly managed and exposed to appropriate modern technology?
Below are just three of wide spectrums of methods to replenish
Retrofitting mines in anticipation of price appreciation:
If one accepts the inevitability of higher prices for silver
(as I do) then one should create a plan to retrofit a number
of China's defunct mines - to put them back to work as the
price justifies the production.
Exploration of claims adjacent to hot spots: Another
path to success may lie in staking and exploring claims nearby
"hot" spots where significant silver is already
being mined - and where new world-class discoveries have recently
Use of Technology to Expand Yield of Historical Mines:
The application of modern mining technology when it comes
to exploration and production, may add years to the lives
of some of China's more famous silver mines while reinvigorating
newer production sites.
I am sure that these and many other ore extraction techniques
will add tens of millions, even hundreds of millions of ounces,
to China's silver reserves. The managers who will plan strategy
for China's production of silver and those investors who will
support them are helping to provide necessary resources for
China's continued progress.
First In, Best In
INITIAL OBSERVATION: There is a new productivity boom coming
your way, brought to you by China's emerging generations of
market-educated, University-trained factory managers. They
expect to drive their factories past quota and their mines
past closing. They will not settle for second best and they
use a number of Western-style financial techniques to benefit
their businesses. Want to be "in first" and "in
the know?" Watch for those mining consultants, advisors
and company CEOs who are able to raise capital, forge linkages
and move quickly toward signing formal deals with private
Chinese individuals and non-governmental entities. Those "first-in"
match-ups will prove powerful indeed.
As you can see from this report, I find China's silver-mining
privatization profoundly stimulating and gratifying. I am
excited about going over to visit China's most promising silver
regions and mines. As an analyst, I welcome the opportunity
to observe those with an "inside track," but I am
trying to embark on this trip without any preconceived notions.
It took a great act of faith in the early 2000s to spend time
and energy preparing for what I have come to believe from
my own research is a new silver boom. Silver may turn out
to be the biggest commodity boom of all the commodities, yes
even bigger than oil and gas! Those few who did prepare for
this day certainly deserve to have their foresight rewarded.
And I truly believe that China's search for silver is not
just going to generate a world-class silver company or two.
No, it's probably going to create brand new entities - silver
mining companies on a huge scale.
I would also venture to say that partnerships and joint ventures
are probably the way that most foreign participation will
occur in China. Distrust is always a factor - especially among
the mid-level communist cadres - and so is fear of changing
political and social realities. Yet I cannot think how these
people would ever make the case that China should go on in
the old way, not maintaining mining properties while setting
wildly inaccurate production goals.
Even now, the torch is being passed from China's old mining
operators - those lodged collectively within the bosom of
the state - to an emergent class of savvy mining entrepreneurs,
private, wealthy individuals and their families who have begun
to use clout - their Guan-Xi - to participate in some of China's
most profitable and lucrative silver mining sites.
Conclusion and Review
If you have read to the end of this report, congratulations
are in order. It's my hope you have learned a good deal about
some of China's deepest and most fascinating silver-money
secrets - those from which substantial profits may be derived.
Below, for those who still struggle, are three conclusions
you may derive from this report.
1) Vast silver fields are waiting to
be explored and developed in China: Top Chinese officials
apparently have reason to believe - or have been led to believe
- that there exist world-class silver reserves within the
country that demand to be explored or placed into production.
2) Fields are placed where prospectors
have never even made a thorough investigation: Silver
has already been mined in China for some 3,000 years, mostly
in the eastern regions. The areas most available that promise
additional major discoveries lie in and around the northern
and northwestern sections of China and Inner Mongolia.
3) China is correct to maintain in-country
production of silver: New exploration techniques combined
with advanced production technology might just allow China
to make a silver mother lode discovery that might just match
or perhaps exceed anything found in other silver-rich regions
such as Mexico or Peru. At the same time, new uses for the
"white metal" continue to develop, the demand for
which may far exceed anything currently drawing down silver
In my next report, we will discuss the feasibility of finding
such "super sized" ore bodies and track the movements
of well-known prospectors who might be exploring now. We will
also launch a fairly rigorous assessment of what regions and
mines are likely candidates right now to help China fill its
rapidly increasing silver deficit.
All together now
Question: What is China's Secret
Answer: Vast bodies of silver-rich
ore available for exploration and production right now, right
in China's back yard
I think you've got it!
Disclaimer Note: David Morgan is an independent newsletter writer
and may act on behalf of his clients on certain recommendations
in this newsletter. All information in this newsletter is
believed to be correct, but its accuracy can not be guaranteed.
The owner, publisher is not responsible for errors, omissions
or losses sustained by the reader. David Morgan is the editor
Investors are advised to obtain the advice of a qualified
financial & investment advisor before entering any financial
transaction. For information about his services please visit
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