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 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 Silver
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
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
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
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
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 production.
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 producer.
The second part involves exploration and development of raw
material domestically - if enough of the key element seems available.
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 Joint Ventures.
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 participation.
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
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
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 and infrastructure.
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
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
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
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 stocks.
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 of www.silver-investor.com.
Investors are advised to obtain the advice of a qualified financial
& investment advisor before entering any financial transaction.
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