ORLANDO, Fla., May 9, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies Inc., today announced that it has initiated coverage on Minco Silver Corp. (TSX:MSV), a Canadian mining company focused on acquiring and developing high-grade, advanced-stage silver properties in China.
Paul Rapa, MBA, RedChip Research Analyst, reported:
"Minco Silver is positioning itself to become the number one silver producer in China. The Company has completed six phases of their drilling program in their flagship project, the Fuwan Silver Property, located in Guangdong Province, China.
"There is a great potential for upside due to the fact that a very small percentage of the Fuwan deposit has been explored to date. With a potential of 143 million ounces of silver in the Fuwan Silver project, each share of Minco Silver controls about 4.5 ounces of silver," Rapa continued.
"We do not see economic conditions driving silver far higher than its current level. However, even at a price of $12 per ounce of silver, Minco will still be highly profitable. We view Minco Silver as a 'Buy'," he concluded.
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Disclosure
RedChip Companies has not received any compensation from Minco Silver Corp. or any other party for the writing and preparation of this equity research report. The views expressed in this report accurately reflect the personal views of the analyst(s) covering the subject securities. The analyst(s) contributing to this report do not hold any share of the subject securities. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable but is not guaranteed as to accuracy and does not purport to be complete. As such, neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures or other derivatives related to such securities. This publication was furnished on the condition that it will not form a primary basis for any investment decision. Each investor must make their own determination of the appropriateness of an investment in any securities referred to herein based on the legal, tax, and accounting considerations applicable to such investor and their own investment strategy.
The subject security is currently engaged by this RedChip Companies' investor relations division to provide investor awareness services. Minco Silver Corp. agreed to pay RedChip Companies, Inc., a fee of $10,000 in cash per month for these services.