The Phaserl


Fed Policies Impact Silver Producers: Mine Closures & Big Cuts

from SRSRoccoReport:

Due to the Fed policies of supporting the stock and bond markets, while allowing the competing Dollar currencies of gold and silver to tank, we are beginning to see the first casualties in the primary silver mining industry.

Unfortunately, I knew this was coming for these high-cost mines, but knowing it and seeing it happen in real life are two different things.  I mentioned in a comment on TFmetals Report that I believed the high cost primary silver miners including U.S. Silver & Gold, Alexco Resources and Silver Standard were the most at risk:

The primary silver miners that will be in the biggest trouble first will be those who are what they call the “marginal” producers.  All that word means is the HIGH COST producers.

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