SOURCE: The Bedford Report

The Bedford Report

August 22, 2011 08:16 ET

Silver Market Gets Difficult for Great Panther and Coeur d'Alene Mines

The Bedford Report Provides Equity Research on Coeur d'Alene Mines and Great Panther Silver

NEW YORK, NY--(Marketwire - Aug 22, 2011) - Silver stocks have been exceptionally volatile of late as concerns surrounding the global economy led analysts to question industrial demand for the metal. While silver is considered a safe haven asset, half of the metal's demand comes from industrial consumption which could drop off in the event of a long-term economic slowdown. The Bedford Report examines the outlook for companies in the Silver Industry and provides equity research on Coeur d'Alene Mines Corporation (NYSE: CDE) (TSX: CDM) and Great Panther Silver Ltd. (NYSE Amex: GPL) (TSX: GPR). Access to the full company reports can be found at:

Disappointing reports on jobless claims and factory orders have created doubt about industrial demand for silver, which is used for batteries, brazing and soldering, bearings and high-end electronics. The Commerce Department said factory orders fell 0.8 percent in June, indicating lower demand for factory goods for the second time in three months.

In China, roughly 70 percent of the country's silver demand comes from the industrial sectors. Chinese customs data for June showed that net silver imports had fallen for the third consecutive month, with June levels of 175 mt down 46 percent from a year ago.

The Bedford Report releases stock research on the Silver Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Maintaining production costs is critical for all silver companies looking to capitalize on current market conditions. Last month Great Panther Silver Ltd. reported a 6 percent drop in second-quarter silver production due to lower ore grades, and said it expects a fall in revenue in the quarter. The miner sees revenue falling on shipment delays and higher refining charges, which resulted in higher stockpiles of ore.

In the second quarter, Coeur d'Alene reported net metal sales of $231.1 million, which represents a 16% increase over the prior quarter and is 129% higher than last year's second quarter. The company is boosting its second half exploration expenditures by 67% to approximately $14.0 million to accelerate drilling activities at Palmarejo, Rochester and Joaquin due to ongoing positive results.

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