by Steve St. Angelo, SRS Rocco Report:
With the rapid fall in the price of oil, the primary silver miners production costs declined in the first quarter of 2015. How much? Well, actually a bit more than I forecasted. However, even with lower production costs, the top 12 primary miners as a group still lost money.
According to the U.S. Energy Information Agency (EIA), the average price of a barrel of Brent crude in Q1 2015 was $53.92, down nearly 50% from $101.82 in Q3 2014. This helped to lower costs for the primary silver miners considerably. Unfortunately, the average realized silver price the miners received in Q1 2015 fell even further.
The table below compares the Top 12 primary silver miners financials from Q3 2014 to Q1 2015. Because many of the silver mining companies do not publish separate quarterly statistics with their year-end results (Q4), I do not post results for the last quarter of the year. Instead, I publish FULL YEAR results.
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