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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Ted Butler Commentary
October 30, 2015
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SILVER STREAMING

Silver streaming is a financial transaction in which the buyer pays an upfront amount of cash to gain ownership to future production of silver for the life of the mine. The concept was launched more than ten years ago by Silver Wheaton, still the leader in silver streaming.

In a significant recent deal Franco-Nevada paid Teck $610 million for a 3-million-ounce annual silver stream from Teck’s share (22.5%) of the Antamina copper mine in Peru. This is the first silver mining stream purchased by Franco-Nevada, founded by mining legends Seymour Schulich and Pierre Lassonde, who pioneered the concept of royalty arrangements in the gold mining industry.

Approximately 70% of the total silver mined in the world comes as a by-product of copper, lead, zinc and gold mine production. As such, silver accounts for only a portion of many mines’ total output. That makes it ideal for streaming. The seller of the silver stream gets an upfront payment and agrees to continue mining as before, but earmarks the silver to the buyer. The motivation for the buyer is a low cost stream of silver and potential price appreciation without the cost and trouble of actually mining the metal. The message is clear – Franco-Nevada sees silver as undervalued and put up $610 million of shareholder money backing its belief.

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