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Silver Is Tanking Today...

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Pillar of the Community
livingdinasaur's Avatar
United States
1571 Posts
 Posted 08/19/2007  6:02 pm  Show Profile   Bookmark this reply Add livingdinasaur to your friends list Get a Link to this Reply
Greyhav, I must agree with you mostly. Having worked in the mining industry, off, and on fior several years, (since 1940), I agree that silver and gold are a "by-product" of the copper mining. In Arizona, and other areas, the low-grade mining of copper does produce both gold, and silver. ASARCO mentioned, several years ago that they got over $52,000. in silver from the.004% copper mining. They did NOT mention how much gold was recovered!. Nor did they say how much "moly" was recovered, but I know from personal observation that they shipped box-car loads in 55-gal drums, ( about 950 lbs each) about 10-15 cars a month. I don't recall how many drums to a box-car. This was in '45-'46, when copper was $0.019/ lb. Millwrights got $3.95/hour.
Dick
Pillar of the Community
Bonedigger's Avatar
United States
1267 Posts
 Posted 08/19/2007  6:23 pm  Show Profile   Bookmark this reply Add Bonedigger to your friends list Get a Link to this Reply
I bought a bunch (for me) back when silver was in the $6-$7 range and still have it. Personally, I'm holding until it gets in the $30 range, LOL

Ben
Edited by Bonedigger
08/19/2007 6:25 pm
Bedrock of the Community
BadThad's Avatar
United States
19964 Posts
 Posted 08/21/2007  1:24 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
I almost bought a bunch of silver today, but I think it's going to continue to slide down. A lot of big investors are unloading it to cover margins related to the sub-prime lending issue. I'm looking for $10/oz, then I'm going in big.
Lincoln Cent Lover!
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