ORLANDO, Fla., Aug. 4, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies Inc., today announced that it has issued a first quarter 2008 research update for 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's goal is to become one of the top 10 primary silver producers. One can see how the Company is striving toward that goal with Minco Silver's announcement of a 31% increase in the indicated resource on its Fuwan Silver Project."
"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 157 million ounces of silver in the Fuwan Silver project, each share of Minco Silver controls about 5 ounces of silver," Rapa continued.
"Minco Silver has a break even cost of $2.40 per ounce and $29.00 per ton, and with the recent price of silver around $18 per ounce, it is easy to see why many feel that Minco Silver is poised for tremendous growth. 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 continue to 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.