NEW YORK, NY -- (Marketwire) -- 07/23/12 -- After a strong start to the year silver stocks have faltered in recent months as prices for the metal have struggled to gain any upwards momentum. The Global X Silver Miners ETF (SIL) has fallen over 15 percent in the last three months, while the iShares Silver Trust ETF (SLV) 14 percent over the same period. "The slide in silver prices mirrors the stubbornly sluggish global economy, and the strength of the U.S. dollar," said Keith Newcomb, portfolio manager at Full Life Financial LLC. Five Star Equities examines the outlook for companies in the Silver Industry and provides equity research on Coeur d'Alene Mines Corp. (NYSE: CDE) and Great Panther Silver Ltd. (NYSE MKT: GPL).
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Silver has recently been benefitting from increased demand according to Commerzbank. In a recent note the bank stated that holdings in silver exchange-traded funds, 575.1 million troy ounces, were at their highest levels since May of last year. Silver futures on Friday settled at $27.217 a troy ounce. "Investors clearly view silver's current price level of $27 per troy ounce as an attractive opportunity to buy, which means higher silver prices can be expected," the bank said.
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Coeur d'Alene Mines Corporation is the largest U.S.-based primary silver producer and a growing gold producer. The company has three new, large precious metals mines generating significantly higher production, sales and cash flow in continued strong metals markets. The company recently announced it has invested in International Northair Mines Ltd. Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico.
Great Panther Silver's current activities are focused on the mining of precious metals from its two wholly-owned operating mines in Mexico, including the development stage San Ignacio Project. The company recently reported their Guanajuato plant achieved record silver and gold recoveries of 91.1% and 92.3% respectively. A small re-grind mill was commissioned in April 2012 and immediately yielded the improved recoveries.
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