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Pan American Silver Earnings Soar

|Includes: Pan American Silver Corp. (PAAS)

Pan American Silver (NASDAQ:PAAS) just released fabulous 4th quarter and 2016 year end results, that include net earnings at $.66 per share for the year and have doubled the dividend to $.025 per share for the quarter.

During a conference call today, the company projects a continuation of growing margins, due to downward pressure on costs. In addition to rising realized silver and gold prices, their zinc price was up 56%, lead up 28%, and copper up 8% in the fourth quarter as compared to 2015.

President Michael Steinman believes political instability will have a positive impact on silver prices in 2017, in his remarks today. Company guidance shows all in cash costs will continue to remain in the $10 to $12 per ounce of silver range through 2018. The silver spot price is at $18.00 today compared to $15.36 from one year ago today. Silver and gold prices should continue their upward march as currency devaluations intensify.

Disclosure: I am/we are long PAAS.