Silver has been one hot metal in 2011 – until now. After going over $49 per ounce at the end of April, the price has dropped roughly 27% to under $36 per ounce in just the first few days of May.
Seeking Alpha – This pull back in the price of silver is healthy for the market overall after such a quick rise in price. I cannot tell you how long the down trend will last or how far it may go, but I do believe in silver long-term. If you believe in silver long-term, this pullback could be an opportunity to buy silver stocks, silver ETFs, physical bullion or to spread your risk across multiple silver investments once the market stabilizes. Below is a brief summary of Great Panther Silver.
Great Panther Silver Ltd. (GPL) is a Canadian based mining company with two silver focused mines located in Mexico. In 2010 the company produced approximately 1.5 million ounces of silver which was flat when compared to 2009. Revenues increased 34% to C$42.2 million and earnings were C$0.04 per share which reversed a loss in 2009. At the end of 2010 the company had cash of nearly C$14 million and total liabilities of C$10 million. The company expects to produce 1.9 million ounces of silver in 2011 and 2.7 million ounces in 2012 from organic growth.