dinsdag 14 oktober 2014

First Majestic Silver retains silver sales

Just one example of what silver miners are doing now. They are retaining their silver ounces to be sold later on as silver prices are too low at this moment.

From First Majestic Silver's recent production results:
Silver prices declined 19% in the third quarter
representing the second largest quarterly decline since the financial crisis in 2008. As a result of this weakness, the Company decided to temporarily suspend silver sales in an attempt to maximize future profits. This suspension of sales will result in lower revenues and earnings for the third quarter, however, it is likely that these inventories of unsold ounces will instead be sold in the fourth quarter. As of September 30, 2014, approximately 934,000 ounces of silver were held in inventory.

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