Resource World Magazine

ing price, while others – like SilverCrest – don't. Regarding the industrial demand for silver, Fier said that the solar panel industry is important and growing. This usage will affect silver demand both short-term and long-term. "If the silver price goes down, supply will be somewhat curtailed as mines close down," said Fier. "Then the price usually rebounds. Basically, the supply and demand of silver tend to balance out." Fier said he is pleased with the current price of silver as his company is making money. He noted that lower silver prices can provide acquisition opportunities. However, it's always important to find ways to keep production costs down. "In the short-term for 2013, I can see the silver price being range-bound between US $20 and $23/oz," said Fier. "We will have see what the Fed does in 2014 – I have seen range forecasts from US $15 to $30/oz. Long term, I am very bullish and I expect a peak in the silver market two to three years from now moving up to US $40 to $50/oz." Fier said he likes high quality mining shares over buying bullion as they offer leverage. He looks for companies that are making money, have great management and good growth prospects. As of this writing, in the short-term, the price of gold, and silver to some extent, has been extremely volatile with gold mostly confined to bearish behavior. These big price drops may be attractive to bargain hunters; however, this is a general downward trend with some upswings. Mid to long-term, the basics are in place to deliver higher prices. Meanwhile, if you want to profit now, you can always buy gold and silver stocks that pay dividends. n www.resourceworld.com november 2013 CORRECTION The table heading outlining resources in the Tahoe Resources article in the last issue of Resource World Magazine should have read: A May 2012 Preliminary Economic Assessment (PEA) outlined the following resources. www.resourceworld.com 11

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