Q3 Not Proving Positive for Primary Silver Miners

SRSrocco Report said last week that over half of the primary silver miners have now released their Q3 reports. Unfortunately, they show that as a group the companies are losing $3 per ounce at the current silver price.

As quoted in the market news:

If we look at the chart below, 7 of the 12 primary silver miners in my group had an estimated break-even of $18.50 in Q3 2014.  With the current price of silver at $15.70, this would be a net loss of $2.80 an ounce… on average.

However, we must remember, these seven miners are some of the lower cost producers.  Once we factor in the results for the remaining companies that are the more marginal producers (higher cost), this $2.80 loss per ounce will probably be higher than $3.00.

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