SOURCE: The Bedford Report

The Bedford Report

May 26, 2011 08:16 ET

Silvercorp Metals and Endeavour Silver Optimistic Moving Forward

The Bedford Report Provides Analyst Research on Silvercorp Metals & Endeavour Silver

NEW YORK, NY--(Marketwire - May 26, 2011) - Silver stocks have posted a modest recovery over the last week following a massive selloff in early May. Silver prices still remain well below April highs, however, leading some investors to worry that silver producers will be unable to post expected revenues. The Bedford Report examines the outlook for the Silver Market and provides research reports on Silvercorp Metals, Inc. (NYSE: SVM) and Endeavour Silver Corporation (NYSE: EXK). Access to the full company reports can be found at:

Several marque silver producers forecasted a drop in silver prices and took necessary precautions such as selling several mining sites. Many companies also increased hedging. Hedging programs allow producers to lock in current silver prices for future production, guarding against any potential price declines in the future. Banks which execute these forward sales borrow silver from the spot market, which reduces the physical supply of silver temporarily. Analysts warn that an increase in hedging could be taken as a bearish signal for silver prices as it directly increases selling pressure in the market.

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The World Silver Survey 2011 report produced for Washington's Silver Institute noted that last year saw a dramatic return to net producer hedging, with 61.1 Moz added to the global hedge book - a volume just short of the 1997 record high.

Presently Silvercorp does not hedge production. Silvercorp Metals Produced 1.05 million ounces of silver in the company's fiscal fourth quarter, resulting in a record annual production of 5.3 million ounces of silver and achieved the fifth consecutive year of production growth.

Endeavour Silver Corp says that its "Second Quarter financial performance is well on track to set new records." In its fiscal first quarter revenues increased 94 percent year-on-year to $35.4 million thanks to sharply higher silver-gold production and precious metal price.

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