silverwood

Brent Cook: Turning Rocks into Money

TGR: Why such a low-ball bid?

I think Penoles was trying to capitalise on the financial crisis but
grade matters and no other site in the world matches the grade of MAG's find in the Juanicipio. The average grade on the Valdecanas is > 1 kg/tonne. That's worth >US$400/tonne at today's silver price.

Not only that, but even at today's depressed prices, the lead and zinc content alone is worth > US$60/tonne. We know from several analyst's releases that Penoles' cost of mining in the mine right next door are ~ US$40/tonne. Gee.

So the silver and gold, >$400/tonne of it, are basically net. I don't know what the market is paying for that kind of deposit, because there hasn't been a find like it in at least 100 years, but I'm absolutely sure it's paying a LOT more than Fresnillo's stink bid offer of $4.54.

Brent Cook: Turning Rocks into Money

I total agree with the Mr Cook on his selection of Mag Silver(MVG). I would like to add that he did not include any of the other projects in which Mag has in his share price consideration.
Mag has some very good drill results at their Cinco de Mayo project. Latest results here...www.magsilver.com/s/Ne...
Another one of their wholly owned project is Batopilas. They have discovered high grade silver deposits here also... www.magsilver.com/s/Ne....
To fully appreciate this company go here...www.magsilver.com/s/Pr...
disclaimer I am long and strong Mag Silver