Live silver price chart
24 Hour Spot Silver
New York Spot Silver
Silver Lake Resources seeks USD 70 million for Murchison gold and copper activities
Silver Lake Resources is set to raise up to USD 70 million to develop the Murchison Gold Project and accelerate copper exploration. The money will be raised through the placement of up to 20.6 million shares at an issue price of USD 3.40 per share to institutional and other sophisticated and professional investors. The issue price is a 5.7% premium to Silver Lake’s 20 day volume weighted average price. Settlement of the placement is currently scheduled to take place on November 23rd 2011 with anticipated quotation and trading of the new Shares on the ASX on November 24th 2011. Mr Les Davis MD of Silver Lake said that “We are delighted by the strong support received for the placement from a large number of existing and new Australian, North American and European institutional investors. Monies raised from the placement will be used to develop the Murchison Gold Project and accelerate [...]
Quick silver’s rollercoaster ride in 2011
Silver, more perhaps than platinum, is a hybrid – an industrial metal with some of the precious metal investment attractions of gold. This, metals expert Philip Klapwijk said in a presentation to the Silver Institute in New York this week, explains why silver’s price hit an all-time high in April, but is now facing downward pressure. Klapwijk, of metals consultancy Thomson Reuters GFMS, seemed to err on the positive side during his speech. In April, silver had all the attributes of a safe-haven investment, soaring to a record $48.70/oz at that month’s final London fix. The motivating forces were the same as those driving gold – the sovereign debt crisis, inflation fears, loose monetary policies and a weak US dollar. But within a fortnight the metal was down to $32.10/oz. Although Klapwijk concedes that investor interest remains strong despite two major sell- offs this year, he prefers the logic of [...]
