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Message: MINERS SEE SILVER AT $15

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MINERS SEE SILVER AT $15

posted on Sep 30, 07 04:18PM

Miners see Ag at US$15/oz - Regional
Published: Monday, September 24, 2007 17:11 (GMT -0400)

Miners taking part in the 2007 Denver Gold Forum this week are enthusiastic about the future of another precious metal: silver.

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"Silver is likely to reach US$15/oz before it reaches US$10/oz," Canadian Pan American Silver's (TSX: PAA) CEO, Geoffrey Burns, said.

Meanwhile, US-based Hecla Mining's (NYSE: HL) CEO, Phil Baker, said silver prices are likely to go up and believes silver companies are undervalued compared to gold companies, making for a strong case for investing in silver miners.

That the forum dedicated an entire section to silver and silver mining companies is indicative of the interest investors and the market have in the precious metal, Baker added.

Meanwhile, US miner Coeur d'Alene Mines' (NYSE: CDE, TSX: CDM) CEO Dennis Wheeler said that precious metals prices are heading into a "perfect storm" on bullish fundamental factors and a growing world economy, Reuters reported.

Silver was valued at US$13.62/oz on the London Bullion Market on Monday, and has averaged US$13.10/oz over the year.

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