Silver Miner's Profit/Loss Point - Coin Community Forum

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Author	Replies: 4 / Views: 1,568
west- canuk Valued Member Canada 497 Posts	Posted 09/29/2014 12:57 am I remember that one of the claims of the internet silver hawks was that the dollar value for silver was around the 22- 23 dollar mark for silver only miners to be profitable at. Below this point the claim was that they would be shutting down the mines. This appears to be a false claim since there seems to be plenty of silver being produced. Anyone have any input on this, are any mines being mothballed, has the magical value of $23 been lowered ? Report this Post to the Staff

trout1105 Pillar of the Community Australia 7096 Posts	Posted 09/29/2014 01:28 am Most copper Mines have a byproduct of Silver and Gold, This is just the icing on the Cake for these guys Gold Mines often produce a lot of Silver as well. Report this Post to the Staff
Silver Handle Valued Member United States 68 Posts	Posted 09/29/2014 08:47 am I was told it was $18 when silver was $22, now being told its $15 for shutdown. I also agree with trout, silver is produced even when not mined by silver miners, so this effects the price. Report this Post to the Staff
gxseries Pillar of the Community Australia 3831 Posts	Posted 09/29/2014 09:29 am Mines do shut down over a certain threshold. However with silver, silver is usually a byproduct of copper, zinc, gold mines. As long as the other minerals manage to make profit, silver is considered as an extra bonus. Another difference with silver supply is that a lot of industrial silver actually do get recycled unlike gold. There are rarely any mines that specifically target silver only. In fact, I cannot think of any! The biggest killer for a lot of mining industries is not just the commodity prices but fuel and electricity prices. Those things add up really quickly. My partial coin collection http://www.omnicoin.com/collection/gxseries My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month. Edited by gxseries 09/29/2014 09:30 am Report this Post to the Staff
Joe2007 Pillar of the Community United States 3843 Posts	Posted 09/29/2014 2:33 pm Some mines have lower operation/production costs than others, the higher cost mines would be the first to be shut down due to lower silver prices. Due to sunk costs a mine isn't necessarily shut down if it is unprofitable, but is likely kept operational until it cannot cover its daily operational costs. gxseries is correct. Silver is a mining byproduct of mining for other metals. Edited by Joe2007 09/29/2014 2:35 pm Report this Post to the Staff
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