I found this article recently. It's from Jan-05.
Just wanted to share it with the forum ...
I am not an Australian , (I'm a New Yorker) what's going on with this comany that this article speaks of. Anyway if anyone gets the ticker symbol for them please send it marketwaves here in the forum, so that I can check it out ...
Unfortunately, I dont have any Australian stock data ....
SILVER the new safe haven?
SILVER is shaping up as the new safe haven for investors, hitting close to a 5 1/2-year high in spite of concerns that its main market is declining.
The white metal ended at $US5.97 an ounce on Friday, managing to match gold's climb in December.
Silver's appeal has managed to survive two big question marks hanging over it: first, will digital cameras set off an unrelenting decline in the use of film (which contains silver) and, two, will China's plans to export larger quantities of the metal undermine its market value?
Australia, the third largest producer of silver after Mexico and Peru, has the world's largest silver mine, BHP Billiton's Cannington in Queensland.
Cannington produced 38 million ounces of silver in 2002 and the mine is being expanded this year. Another producer is Anvil Mining which has the Dikulushi copper-silver mine in Congo. There are also several up and coming silver plays among the juniors. These include Macmin Silver, Malachite Resources, Mt Conqueror Minerals and Golden Cross Resources.
These companies have predominantly silver-gold exploration properties, whereas most of the metal's production comes as a by-product of base metals mining.
Macmin is drilling for silver at Texas, Queensland, where it now has a 14-million-ounce resource. Malachite is active in northern NSW and is drilling the old Boonoo Boonoo gold-silver field.
Golden Cross has reported high silver values at the old Sunny Corner mine near Lithgow, NSW, and Mt Conqueror has picked up the historic Ruby mine near Armidale, NSW, where high silver intersections were reported in 1969. In India, which is a substantial market for silver for use in jewellery and silver-plated products, the metal has now reached an all-time high through local traders.
Silver, while never having the glamour of gold, has appealed to some investors - most notably, Warren Buffet - because, unlike gold, it also has a range of industrial uses.
The price did take a hit last September when Eastman Kodak announced it would invest less in film photography, but the market no longer seems fazed by this development.
Another long-term concern is that China, as a result of greater zinc, lead and copper mining, also has more silver to release on the world market. China is expected to raise silver exports by 27 million ounces this year.
However, US metals analyst Eidetic Research notes that global consumption of silver has outpaced production for 14 straight years. It believes silver's price could accelerate faster than gold's in 2004.