Latest Reports Indicating Silver Could Actually Outperform Gold in 2020

Financialnewsmedia.com News Commentary

PALM BEACH, Fla., Sept. 15, 2020 /PRNewswire/ -- History shows that during a global crisis, gold and silver become the safest and maybe the only metals to possess. A recent report from Statista said that the global supply of silver presently stands at around one billion ounces. Nearly half of all the silver supplied worldwide is used for industrial applications. Other sizable segments go into investment, coinage, and the jewelry industry. Looking at the last four decades, the price of silver has shown a steady increase, reaching new record highs since 2010. The price of gold has also risen in this pandemic, but some experts even see silver outperforming gold. A recent article by CNBC said that this year, gold prices have shot to record highs, as investors fled to safe havens with the pandemic showing no signs of abating and a crashing economy. Silver prices have followed suit. The articled added: "Michael Hsueh, a commodities and foreign exchange strategist at Deutsche Bank, told CNBC he expects silver to outperform gold." Active mining companies in the markets this week include:  MAG Silver Corp. (NYSE: MAG) (TSX: MAG), Aftermath Silver Ltd. (OTCQB: AAGFF) (TSX-V: AAG), Endeavour Silver Corp. (NYSE: EKX) (TSX: EDR), Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI), Hecla Mining Company (NYSE: HL).

According to the article, experts expect that silver is set to outshine gold, even as prices of both precious metals soar in the midst of a faltering global economy and a weakening U.S. dollar. It commented: "Gold prices hit a new record close of $2,021 per ounce (recently) — settling above $2,000 for the first time… Geopolitical unrest… likely added to the spike. The blasts in Beirut, which killed dozens and wounded thousands, "probably (added) to the shine of Gold above $2020," said a note from Mizuho Bank. Spot gold prices have spiked more than 32% so far this year and are on track for the best year since 1979. Meanwhile, silver prices have also followed suit, shooting up more than 30% year to date." 

Aftermath Silver Ltd. (TSX-V: AAG.V) (OTCQB: AAGFF) BREAKING NEWS:  Aftermath Silver Closes $17.1M Non-Brokered Private Placement – And Eric Sprott Announces Holdings in Aftermath Silver - Aftermath Silver is pleased to announce that it has closed its previously announced non-brokered private placement of 26,362,442 shares for gross proceeds of $17,135,587 (the "Private Placement"). Mr. Eric Sprott has increased his investment in order to maintain 19.61% of Aftermath's issued and outstanding Common Shares.

All securities issued in connection with the Private Placement are subject to a hold period and may not be traded until January 15, 2021, except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.  An aggregate amount of $494,567.44 in cash and 290,360 common shares were paid as finders' fees in connection with the Private Placement.

The Company intends to use the net proceeds for drilling and other technical studies on the Berenguela Silver-Copper project in Peru, and the Challacollo and Cachinal Silver-Gold projects in Chile, and for general working capital purposes. 

In additional news, Eric Sprott announced this week that, 2176423 Ontario Ltd., a corporation that is beneficially held by him, acquired 9,200,000 common shares of Aftermath Silver Ltd., pursuant to a private placement at a price of $0.65 per share for aggregated consideration of $5,980,000.

As a result of the Acquisition, Mr. Sprott now beneficially owns and controls 24,079,796 common shares and 7,439,898 common share purchase warrants (warrants) representing approximately 19.3% of the outstanding common shares on a non-diluted basis and approximately 23.8% on a partially diluted basis assuming the exercise of all such warrants. Prior to the acquisition of these Shares, Mr. Sprott beneficially owned and controlled 14,879,796 common shares and 7,439,898 warrants representing approximately 15.1% of the outstanding common shares on a non-diluted basis and approximately 21.1% on a partially diluted basis assuming the exercise of all such warrants.

The Acquisition (together with Aftermath Silver's intervening common share issuances from treasury) resulted in a partially diluted beneficial ownership decrease of approximately 2.9% of the outstanding common shares from the date of the last early warning report and, therefore, the filing of an update to the early warning report.  Read the entire releases and more news for Aftermath Silver at:  https://www.financialnewsmedia.com/news-aag/

Other recent developments in the mining industry include:

MAG Silver Corp. (NYSE: MAG) (TSX: MAG) recently announced an Agreement to consolidate and acquire 100% of the silver-rich Deer Trail Carbonate Replacement Deposit "CRD" project in Piute County, Utah (the "Deer Trail Project" or "Project").  The Project includes 111 patented and 682 unpatented claims (approximately 5,600 Ha) encompassing the historic Deer Trail Mine and the adjoining Alunite Ridge area. This is the first time since the early 1980s that these properties have been consolidated, allowing MAG to apply an integrated district-scale exploration approach based on the continuum of mineralization styles from CRD through Skarn to Porphyry Copper-Molybdenum shown by many related systems worldwide. This model suggests that the high-grade silver, gold, lead, zinc and copper CRD sulfides of the Deer Trail mine are linked by kilometres of continuous mineralization to a Porphyry Copper-Molybdenum centre lying to the west near Alunite Ridge. 

"Deer Trail has been on my exploration radar since 1982, as it displays the most important characteristics of a large Porphyry-related CRD system. Consolidating the property lets us apply our integrated exploration model and apply new technology to the search for the entire suite of mineralization styles that we expect to occur on the property," said Dr. Peter Megaw, MAG Silver's Chief Exploration Officer.  "Our experienced CRD exploration team is excited to see what unfolds over the next few months as we begin drilling for more extensive high-grade silver-gold-lead-zinc CRD and skarn mineralization below the historic mine."

Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) recently announced the start of irrigation and leaching of ore placed on the heap leach pad at the Lindero gold Project, located in the Province of Salta, Argentina. First gold pour is expected in early October 2020.  Jorge A. Ganoza, President, CEO and Director, commented, "In spite of all the restrictions and challenges brought by the COVID-19 pandemic, we are managing to successfully advance Lindero in a safe and secure manner for our personnel and neighbours." Mr. Ganoza continued, "With the start of irrigation, we achieved one more key milestone in the pre-production phase as we prepare for what follows, the first gold pour at our third producing mine."

Construction and commissioning activities at Lindero are advancing according to the plan outlined in the Company's news release dated May 8, 2020.  Fortuna is a growth oriented, precious metals producer focused on mining opportunities in Latin America.  Our primary assets are the Caylloma silver Mine in southern Peru, the San Jose silver-gold Mine in Mexico and the Lindero gold Project, currently under construction, in Argentina.  The Company is selectively pursuing acquisition opportunities throughout the Americas and in select other areas. 

Hecla Mining Company (NYSE: HL) recently announced that its Board of Directors has increased the quarterly dividend 50% and lowered the realized price threshold for the silver-linked dividend.  Since 2012, Hecla's minimum quarterly dividend has been an annualized one cent per share in addition to a silver-linked dividend. Today, Hecla is announcing that the Board is increasing the expected minimum quarterly dividend 50% to an annualized one and one-half cents per share and lowering the silver-linked dividend threshold price. If Hecla's average realized silver price for a quarter is $25.00 per ounce, the new silver-linked quarterly dividend policy provides an annualized two cents per share, while at $30 and above, the realized silver-linked dividend per quarter is unchanged.

"Our Board's adoption of this improved dividend policy reflects Hecla's position as the United States' largest silver producer with mines that have strong operating performance and high silver margins," said Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr. "Our long-standing dividend policy has been enhanced with a larger base dividend and a lower price trigger for the silver-linked dividend. As prices rise, shareholders should get more of the company's cash flow which imposes continued strong operating and capital cost discipline."

Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) recently announced it has filed an updated prefeasibility study technical report entitled "Endeavour Silver Corp Terronera Project NI 43-101 Technical Report ("Technical Report"), independently prepared by Ausenco Engineering Canada Inc. and dated July 31, 2020 with an effective date of July 14, 2020.  The report was prepared in compliance with National Instrument 43-101 and filed on SEDAR and EDGAR today.  The report can be viewed on SEDAR at www.sedar.com and on the Company's website, under the Mining Assets, Development section. The results of the Technical Report were previously announced in the Company's news release dated July 14, 2020.

Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera Mine Project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.

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