jueves, 29 de diciembre de 2016

Silver could be new gold; prices may rise 20% in 2017

KOLKATA: Commodity experts and bullion traders feel that silver can trump gold in coming months as demand for the metal is increasing for solar panels and electronics sector. Demand for silver is increasing in the home décor and fashionable jewellery categories in the country which may push the price of the metal by almost 15-20% in 2017, feel the traders and analysts.

India had consumed around 7,000 tonnes of silver in 2015. Of this, 1,900 -2,000 tonnes were consumed by the industrial sector. In 2016, from January to July , imports of silver fell over half to 2,111 tonnes from 4,362 tonnes in the same period last year.

Bullion traders feel that this year the total import may not cross 5,000 tonnes as demand was low and traders, who had imported huge volumes of silver in past years, were offloading the metal in the and booking profit.

"In 2015, rural India went through a drought and their purchasing power decreased sharply which has been reflected in this year's rural off-take of demand. But this year, rains have been good, and once the cash flow increases in the market, we see good demand to emerge for silver in rural India," said Surendra Mehta, general secretary, India Bullion & Jewellers Association (IBJA).

"We are expecting silver price to appreciate by 15 -20% next year," Mehta said.

Silver has gained 16% in 2016 in comparison to gold, which has appreciated 9% in the whole year. On Monday , silver was trading at `38,500 per kg.

Gnanasekar Thiagarajan, director, Comtrendz Risk Management Services, said: "Gold price has fallen since November 8. The price of silver, which also falls in the precious metal category , has dropped in tandem with gold but the decline in silver price is lesser than gold.But we have seen that when gold prices rally, silver prices outperform gold. 2017 is expected to be a good year for silver.Investors, who want to take a position in silver, can get good returns if they stay invested for a longer horizon." He pointed out that there is a fear in the mind of Indian consumers that government will put a cap on gold holdings.

martes, 27 de diciembre de 2016

How to recycle old computers, phones and other gadgets

How to recycle old computers, phones and other gadgets | Blog

There's gold in those laptops!

Q) Which has more gold and copper?
a. circuit boards
b. raw ore mined for these metals
A) Circuit boards!

Circuit boards can contain 40 to 800 times the amount of gold and 30 to 40 times the amount of copper as the equivalent weight of ore mined in the US.

In addition, recycling one million laptops saves enough energy to power 3,657 US homes for a year [1].

Want to learn more? Check out the short video, The Story of Electronics.

How to start recycling electronics at your workplace

  •  Set up collection area.

  •  Find an empty box.

  •  Place box in easy to access area.

  •  Label the box with a poster about microelectronics recycling.

  •  Decide where your business will take microelectronics.

  •  Create a plan for who will take the microelectronics when the collection box fills.

  •  Let coworkers know about microelectronics recycling, and show them the collection box.

Donate vs. Recycle

Donate: Many electronics can be donated, refurbished and used again. Free Geek is a great local option, just be sure to call in advance to ensure they can accept your e-waste: 503-232-9350. Donations to Free Geek are tax deductible and pickups can be arranged for a small fee.

Recycle: Broken or unusable electronics can be recycled and component parts made into something else. Find the nearest drop-off recycling locations through Metro's Find a Recycler or Oregon E-cycles.

To remove personal or sensitive information before donating or recycling your electronics,

  •  Call Metro at 503-234-3000 for options to have data removed.

  •  Free Geek takes data security very seriously: all data containing gadgets are either wiped clean using Department of Defense standards or are destroyed (safely) on-site.

Larger electronics

Contact Oregon E-Cycles for free drop-off locations for

  •  Personal computers, monitors, laptops and tablets

  •  Computer peripherals - keyboards and mice

  •  TVs, including VHS or DVD/TV combos

  •  Printers, fax machines and large scanners

These must be recycled separately:

lunes, 26 de diciembre de 2016

Recycled Metal Market is poised to be worth US$476.2 bn by 2024

Metal recycling entails secondary production of metals by recycling scrap generated from metal-based objects. Metal scrap generated from discarded machineries, automotive, construction materials, mechanical equipment, and electrical & electronic components can be reused to produce metals through an energy efficient route. Metals recycled from scrap can be classified into three major categories: ferrous, non-ferrous, and others (such as precious metals). Several types of metals such as iron & steel, copper, aluminum, zinc, nickel, lead, tin, gold, silver, platinum, and palladium can be recycled. Recycled metals can further be used in various end-user industries such as building & construction, automotive, electrical & electronics, industrial machinery, shipbuilding, and home appliances. Asia Pacific has been accounting for the largest share of the global recycled metal market, followed by Europe and North America, since the last few years. Middle East & Africa is expected to witness rising demand for recycled metal during the forecast period.

The report estimates and forecasts the recycled metal market on the global, regional, and country level. The study provides forecast from 2016 to 2024 based on volume (kilo tons) and revenue (US$ Mn). The report comprises an exhaustive value chain analysis, which provides a comprehensive view of the market. The value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints of the recycled metal market along with their impact on demand during the forecast period. The report analyzes opportunities in the recycled metal market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources.

Get a Free Sample Copy of the Report @ http://www.mrrse.com/sample/1828

The report includes Porter's Five Forces Model to determine the degree of competition in the recycled metal market. A qualitative write-up on market attractiveness analysis, wherein end-users and countries have been analyzed based on attractiveness has been included in the report. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report includes price trend analysis for recycled metal from 2015 to 2024.

The study provides a comprehensive view of the recycled metal market by dividing it into product segments that include ferrous, non-ferrous, and others. In terms of end-user, the recycled metal market has been segmented into building & construction, automotive, electrical & electronics, shipbuilding, industrial machinery, and others. Product segments and end-user segments have been analyzed based on historic, present, and future trends, and the market has been estimated from 2016 to 2024 in terms of volume (kilo tons) and revenue (US$ Mn).

Regional segmentation includes the current and forecast demand for recycled metal in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume and revenue for end-user segments. Key countries such as the U.S., Germany, Italy, the U.K., France, Spain, China, India, Brazil, and South Africa have been included in the study. Market segmentation includes demand for individual end-users in all the regions and countries.

The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Sims Metal Management Ltd., European Recycled Metal, OmniSource Corporation, Schnitzer Steel Industries, Inc., and Nucor Corporation. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview.

Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.

In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players' product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team's expertise and market understanding.

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viernes, 23 de diciembre de 2016

ZenRobotics' Recycling Robots to Sort out Chinese Construction Waste

ZenRobotics Ltd. and Jiangsu LVHE Environmental Technology Co., Ltd. have agreed on cooperation on the first robotic construction and demolition waste recycling facility in China. The first units will be installed in summer 2017. The companies have also signed an exclusive partnership for the distribution of ZenRobotics Recycler, the first commercially available robotic waste sorting system, in China.

Jiangsu LVHE Environmental Technology Co., Ltd. is a state-owned holding enterprise under the Ministry of Housing and Urban-Rural Development and Wujin Green Building Industrial Agglomeration Demonstration Zone. Dedicated to green development, LVHE Environmental Technology Co., Ltd. develops sustainable resource utilization and environmental protection. The company has become the forerunner in C&D waste recycling in China.

"We keep exploring and innovating in C&D waste recycling in order to develop the green building industry. However, it is very difficult to dispose the mixed C&D waste in China because of the massive quantities and multiple waste categories. Now we can solve the problems. ZenRobotics' technology is a great addition to our operations as we aim to employ the latest innovations, newest processes and modern equipment in producing new sustainable building materials", explains Xue Feng, LVHE General Manager.

Robotic waste sorting has huge potential in China where the volume of construction waste has risen rapidly in line with the accelerating urbanization. Modern technological solutions are on demand especially in China's Eco-cities.

"We're very excited about our cooperation with Jiangsu LVHE Environmental Technology Co., Ltd. and our entry to China. There are huge opportunities on the Chinese market as the volume of construction waste is mounting up. High-quality fractions and high cost-efficiency are key benefits of robotic waste sorting", commented ZenRobotics CEO Timo Taalas.

lunes, 19 de diciembre de 2016

New approach to water splitting could improve hydrogen production

A team of researchers from Missouri University of Science and Technology and National and Kapodistrian University of Athens in Greece have demonstrated a more efficient, less cost-prohibitive way to split water into its elements of hydrogen and oxygen. Their approach could make hydrogen fuel a more viable energy source in the future while addressing the technological challenge of developing clean and renewable energy without depleting earth's natural preserves.

In research published recently in the journal ChemSusChem (Chemistry & Sustainability Energy & Materials), Dr. Manashi Nath, associate professor of chemistry at Missouri S&T, and her colleagues describe how a catalyst using the metal nickel tetrahedrally coordinated to selenium in a coordination complex resulted in a more efficient approach to splitting water via electrolysis. The use of nickel, which the researchers describe as an "earth-abundant" resource, could make the process of water splitting more feasible as a means to develop clean hydrogen as an energy source from water.

Most methods for producing hydrogen and oxygen from water require large amounts of energy and are cost-prohibitive. In addition, the best catalysts to obtain hydrogen from water require the use of expensive precious metals, such as platinum, and are therefore not competitive with current approaches to energy production.

But the research by Nath and her colleagues show that an electrocatalyst containing nickel and selenium is able to produce hydrogen and oxygen from water in a more efficient, less expensive manner than other methods.

"Our work shows that it is possible to obtain a full water splitting with high production efficiency and stability with a simple and affordable catalyst containing nickel and selenium," Nath says. "The novelty of this work is twofold. First, nickel is the main catalytic center which is known to be earth abundant, and second, that same catalyst can be used for both hydrogen and oxygen generation, which dramatically reduces complexity and cost of the device.

"Very few reports are available where the same catalyst can be used for both of oxygen and hydrogen production," Nath adds.

"I strongly believe that developing technology for clean and renewable energy generation is crucial," Nath says. "In this quest, materials innovation plays an even bigger role. Being chemists, our duty is to try to design environmentally friendly new functional materials with high performance for the next generation energy devices."

"This discovery will significantly benefit the search for an efficient water splitting catalyst," write the researchers in the cover profile of the Nov. 17, 2016, issue of ChemSusChem.

Nath's co-authors on the journal article are Dr. Jahangir Masud, a post-doctoral researcher at Missouri S&T, and collaborator Dr. Panayotis Kyritsis and his group members Dr. Polydoros-Chrysovalantis Ioannou and Dr. Nikolaos Levesanos, all from National and Kapodistrian University of Athens, Greece.

sábado, 17 de diciembre de 2016

Tycho Brahe literally had GOLDEN hair: Famed astronomer's exposure to the metal in his lab transformed his locks - but did it kill him?


  • Tycho Brahe died suddenly in 1601, but the cause remains unknown 
  • A new analysis shows that he had high amounts of gold in his hair 
  • Researchers think it may have come from the lab where he worked
  • But they say the precious metal is probably unrelated to his death 

Famed as the founder of modern astronomy, Tycho Brahe truly lived a gilded life, according to researchers who have analysed his hair.

Traces of gold have been discovered in Brahe's hair, in quantities of up to 100 times higher than would be expected in a typical person.

Researchers had hoped that their study would give clues as to how the astronomer died, but say that the gold content in his hair was unrelated.



Traces of gold have been discovered in Tycho Brahe's hair, in quantities of up to 100 times higher than would be expected in a typical person

WHO WAS TYCHO BRAHE? 

Tycho Brahe was born in Denmark in 1546.

His work in developing astronomical instruments and in measuring and fixing the positions of stars paved the way for future discoveries.

His observations - the most accurate possible before the invention of the telescope - included a comprehensive study of the solar system and accurate positions of more than 777 fixed stars.

Brahe died suddenly in 1601, and the cause of his death remains unexplained today. 

Tycho Brahe lived in Denmark in the 16th century, and spent his career charting the laws of planetary motion.

With his precise measurements, the astronomer destroyed centuries-old theories on such phenomena as celestial spheres and comets.

Little was known about his sudden death in 1601, until 2010, when a team of international scientists began the exhumation of his body from its tomb in the Church of Our Lady Before Tyn near Prague's Old Town Square.

Now, researchers from the University of South Denmark have analysed Brahe's hair, in the hopes of obtaining clues on his death.

The team analysed pieces of hair from Brahe's scalp, beard and eyebrows, and discovered traces of gold - 20-100 times higher than a normal person.

Natural sources of gold, such as soil or water, do not provide this high a level of exposure, which the researchers say means that Brahe must have been regularly exposed to gold in his everyday life.

martes, 13 de diciembre de 2016

Sunshine strip: Solar road panels to power homes

A road covered in a layer of thin solar panels that can help power homes and offices is to be built in the UK next year.

The quarter-inch photovoltaic material can be glued on top of a traditional road surface and is tough enough to withstand lorries driving over it, according to the engineers behind the scheme.

Colas, a subsidiary of the French engineering firm Bouygues, is planning to test its Wattway solar road at up to three trial sites in the UK. One of the locations is likely to be near Cambridge.

In areas with 1,000 hours of sunshine a year, just 12ft of road surface can provide enough electricity to power the lights and electrical appliances of one home. Cambridge averages about 1,500 hours of sunshine a year.

The technology's inventors suggest harnessing solar power from roads will be a more publicly acceptable way of producing green energy than large solar farms.

"The potential behind this is huge, if you [consider] the number of square kilometres of road that are available for energy instead of building big solar farms in fields," said Pierre Trotobas, Colas's development manager. "There is no issue of public acceptance."

sábado, 10 de diciembre de 2016

Científicos mexicanos desarrollan celdas solares orgánicas

Un grupo de científicos del Centro de Investigaciones en Óptica (CIO) crean celdas solares orgánicas a base de grafeno, con el objetivo de alcanzar mayor conversión de energía solar a eléctrica.

A diferencia de las celdas basadas en silicio, las hechas con grafeno pueden ser ligeras, semitransparentes, flexibles y a un menor costo, pues el material presenta propiedades únicas de conductividad eléctrica y térmica.

Para el desarrollo del modelo, este centro de investigación trabaja en la obtención del carbono y sus variantes, las cuales son caracterizadas mediante diferentes métodos ópticos, químicos y espectroscópicos, a fin de aplicarlos en celdas solares orgánicas.

“En el CIO estamos desarrollando, en colaboración con la Universidad de Guanajuato, variantes de grafeno a partir de grafito por distintos métodos”, explicó el especialista del CIO, José Luis Maldonado Rivera.

“Lo hemos estado utilizando para dopar la capa activa de las celdas solares orgánicas, que es la que recibe la radiación solar y la absorbe, para que tengamos una mayor conversión de energía solar a energía eléctrica”, agregó.

En entrevista con la Agencia Informativa del Consejo Nacional de Ciencia y Tecnología (Conacyt), Maldonado Rivera dijo que otra variante de grafeno ha sido usada en capas alternas de celdas solares, por ejemplo, en la colectora de huecos para transporte de cargas positivas.

“Además, se puede aplicar como capa colectora de electrones e incluso como electrodos en las celdas solares, electrodos transparentes o semitransparentes y flexibles, aunque ese proceso no lo hemos realizado aún aquí en el CIO, pero tenemos planeado llevarlo a cabo en un futuro próximo cercano”, destacó.

El científico declaró que la idea es fabricar celdas solares basadas sólo en materiales grafénicos, con el único objetivo de que un futuro próximo se dejen de usar las de silicio.

“Las celdas fotovoltaicas orgánicas (OPV, por sus siglas en inglés) las hemos estado desarrollando en el GPOM-CIO desde hace 10 años, obteniendo resultados muy alentadores”, reveló.

“Más de 8.3 por ciento de eficiencia, con esto hemos desarrollado prototipos de paneles solares que son capaces de alimentar leds, pequeños motores y hasta para cargar smartphones”, sostuvo.

Además, los expertos hacen estudios para realizar celdas OPV, en celdas híbridas conocidas como perovskitas, las cuales en seis años han evolucionado de manera importante, con casi 13 por ciento de conversión energética en dichas estructuras.

El proyecto es parte del Laboratorio Nacional de Materiales Grafénicos (LNMG), con sede en el Centro de Investigación en Química Aplicada (CIQA) en Saltillo, Coahuila, el Centro de investigación y Desarrollo Tecnológico en Electroquímica (Cideteq) y el CIO.

lunes, 5 de diciembre de 2016

A Peru ETF Up 62.2% Year-to-Date

Thanks to rebounding gold and silver prices and favorable results in the country's recent presidential election, Peru is giving global investors reasons to give the South American economy another look and that should help EPU.

Latin American stocks and exchange traded funds are rebounding nicely this year, transforming from emerging markets laggards to leaders on the back of surging commodities prices. However, some of the region's single-country ETFs remain overlooked, particularly as global investors pay renewed attention to Brazil, Latin America's largest economy.

Peru is growing at a faster clip than some of the larger Latin American economies, it is not home to the controversy found in Brazil and its central bank probably does not have to engage in multiple rate hikes as has been the case in Colombia.

"The Peruvian Government is net spending into the Peruvian private sector at present. Net spending is labeled as a deficit; it is however very good for the private sector as it leads to expansion, and even better if the spending on durable assets such as the education and health of the workforce, roads, bridges, and airports, etc," according to a Seeking Alpha analysis of Peru and EPU.

Earlier this year, Peruvian markets strengthened after the presidential candidate who advocated higher corporate taxes and mining restrictions failed to garner the necessary votes in an April election.

Risks linger for EPU, namely the strong hand of fiscal conservatives in the Peruvian government.

"The fact that the legislature is dominated by a fiscally conservative political party is not good and shows that government spending will not have an easy path and could well be reversed into austerity which is in trend at present across the world," adds Seeking Alpha.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

sábado, 3 de diciembre de 2016

9 Reasons Not to Fear Falling Silver Prices

9 Reasons Not to Fear Falling Silver Prices 




Until recently, precious metal mining stocks had been the shining stars of Wall Street in 2016. Since the election, though, gold and silver prices have been hammered. A rising dollar, rising bond yields, a faster-growing U.S. economy, and the expectation that the Federal Reserve will raise interest rates in December have all adversely influenced gold and silver prices.

Silver, which is inherently a more volatile metal than gold since it's traded less, has been hit particularly hard. When it appeared that Donald Trump was poised for victory and the stock market futures were plunging, silver had peaked at around $19 per ounce. As of midday trading on Wednesday, Nov. 30, just three weeks post-election, silver is trading at $16.48 per ounce. That's a three-week peak-to-trough decline of more than 13%.

Now is not the time for silver investors to panic

However, panicking now would not be a smart move. There are, in fact, numerous fundamental and psychological reasons to believe that silver prices could soon find a floor and resume their bull market run.

For instance, according to the 2016 World Silver Survey from the Silver Institute, there has been a physical silver supply deficit for the past three years, including a nearly 130 million ounce deficit in 2015. Precious metals follow the same economic rules as any other good or service in that high demand and constrained supply tends to have an upward-pulling effect on prices.

Along those same lines, we've witnessed strong investor demand for silver coins and bars, steady growth for silver from the jewelry industry, and most encouraging, strong demand from the solar industry. Silver is an excellent conductor of both heat and electricity, making it a perfect conducting component for solar panels. With GTM Research and the Solar Energy Industries Association predicting that U.S. photovoltaic installation could triple between 2015 and 2020, it's not hard to see why demand for silver could continue to handily outpace supply.



Image source: Getty Images.

The opportunity cost of owning silver also remains fairly low. Even if the Fed chooses to raise rates by 25 basis points in December, bank CDs, savings accounts, and bond rates will still mostly be yielding less than, or right around, the rate of inflation. There's still not a compelling case to buy interest-bearing assets. Until there is, precious metals like silver, which have no dividend yield, should remain attractive.

Psychological factors could also wind up pushing silver's spot price higher, albeit psychological factors have less substance behind them than meat-and-potato-type data such as supply and demand. In the 20th century, the gold-to-silver ratio averaged 47-to-1. Right now, the gold-to-silver ratio is roughly 71-to-1. Some investors may see this variation from the historical norm as a reason to believe that silver could outperform gold in the somewhat near future.

Uncertainty is also expected to play a key role in fueling silver's spot price. Although the prospect of Trump's policies, which include individual and corporate tax cuts, as well as a big boost in infrastructure spending, could ignite U.S. GDP growth, Trump is a political outsider and, as such, has plenty of question marks surrounding his upcoming presidency. Precious metals have always been a default stomping ground for investors during uncertain times.

Nine reasons not to fear falling silver prices

But there's an even bigger reason why silver mining investors shouldn't be worried that silver prices have dipped 13% in a matter of three weeks - namely, the fundamental improvement in operating efficiencies and cost structures of the silver mining industry. By prudently budgeting capital expenditures and focusing on the highest ore grade mines, all nine silver stocks have established a healthy buffer between their all-in sustaining costs (AISC) - a widely followed measure of margin for mining companies - or similar cost measure and the current spot price for physical silver.



Image source: Getty Images.

Here's a look at the gross margin between each silver miner's full-year AISC forecast at the midpoint and the current spot silver price.

• Fortuna Silver Mines: $5.38 margin based on $11.10 AISC.

• First Majestic Silver: $4.55 margin based on $11.93 AISC.

• Endeavour Silver: $3.98 margin based on $12.50 AISC.

• Great Panther Silver (NYSEMKT:GPL): $3.48 margin based on $13 AISC.

• Coeur Mining (NYSE:CDE): $1.98 margin based on $14.50 AISC.

The following miners report in cash costs or AISC net of by-product costs, which don't necessarily factor in all of the costs mining companies face:

• Hecla Mining: $12.48 margin based on $4.00 cash costs, net of by-product credits.

• Silver Wheaton (NYSE:SLW): $11.97 margin based on $4.51 cash costs for silver only in Q3 2016.

• Silver Standard Resources (NASDAQ:SSRI): $7.23 margin based on $9.25 cash costs (does not include gold AISC from Seabee gold mines).

• Pan American Silver: $5.35 margin based on $11.13 AISC net of by-product credits.

As you can see, none of these silver miners is in any danger of generating losses at silver's current spot price. The closest being Coeur Mining, but even it has a good reason for its relatively high AISC compared to its peers. Coeur has been a busy bee and is transitioning from a combination of surface and underground mining operations to solely underground mining. This costly transition should work out for investors shortly since underground mining offers higher ore grades and should ultimately reduce its capital expenditures. In a year or two, investors are likely to see a rapid decline in its silver AISC. Not to mention, Coeur also repaid a $99 million term loan in July, reducing its debt by nearly 20%.



Image source: Getty Images.

Silver Wheaton has perhaps the safest margin of the group, even if it isn't a mining company in the traditional sense. Silver Wheaton works out life-of-mine or very long-term contracts with mining companies in exchange for up-front capital that they use to develop a mine or expand production. In return, Silver Wheaton accepts a percentage of production from these contracted mines at a well below-market rate. In the latest quarter, Silver Wheaton's cash costs for silver were only $4.51 per ounce. Gold and silver would have to drop considerably for there to be serious concerns about Silver Wheaton's profitability.

Personal holding Silver Standard Resources has benefited from the expected end of open pit mining at its silver mine Pirquitas. Expected costs at Pirquitas have fallen numerous times in 2016. At the same time, Silver Standard's acquisition of Claude Resources is working out marvelously. Claude's Santoy Gap is boosting Silver Standard Resources' cash flow and doing so with efficient gold cash costs.

Even the "Mighty Mouse" of the group, Great Panther Silver, is flourishing. Great Panther has already reduced its full-year AISC expectations in 2016 despite the fact that it's aggressively looking to explore and expand. Even if spot silver remains around its current level, Great Panther is expected to be cash flow positive and perhaps even profitable.

This recent swoon in silver isn't a time to panic. Instead, it could be time to go shopping.