Birthdays are a double-edged sword. For the kid inside, a day of ice cream and salutations can't come fast enough. The more grey hair I get, though, the more tempting it becomes to slow the hands of time. But when it comes to awaiting the growth I see in the pipeline for Silver Wheaton
Judging by the 5% sell-off in shares Wednesday, it appears that investors are not delving beneath the surface of the flat earnings Silver Wheaton reported for the second quarter. The company experienced a 6.2% decline in silver sales volumes from the prior year to 2.9 million ounces, due in large part to lower-grade ores encountered at Goldcorp's
The company continues to guide silver production of at least 13 million ounces in 2008, 19 million ounces in 2009, and 25 million ounces in 2010. Even if silver prices were to remain flat, which I don't believe they will, that is some serious organic growth.
Building from a core that began with the Luismin mine and Lundin Mining's
Fool contributor Christopher Barker captains yachts and writes about stocks. He can also be found blogging actively and acting Foolishly within the CAPS community under the username TMFSinchiruna. He owns shares of Silver Wheaton. The Motley Fool has a disclosure policy.