The Bullion Report May 24, 2010

Silver to Outperform This Year
MineWeb
BMO Research forecasts silver to average US$18.72/oz this year, $20/oz in 2011 and decline to $18/oz in 2012, with the long-term silver price projected to average $14/oz. In a first-quarter silver recap published Wednesday, BMO said its preferred senior silver producers  are Fresnillo, Pan American Silver, and Silver Wheaton, while First Majestic is the preferred mid-tier producer. Bear Creek Mining is the junior silver producer favored by BMO analyst Andrew Kaip and associates Alexandra Syrnyk and Heather Taylor. “BMO Research forecasts a relatively constrained physical supply/demand environment for silver and maintains the view that silver will outperform relative to other metals in the medium term,” the analysts said.
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