Silver is an entirely new market this week. Following CFTC Commissioner Bart Chilton's public condemnation of "fraudulent efforts to persuade and deviously control" the precious metal's price, market participants should now be far less able to continue such deceit.
The lawsuits subsequently filed against JPMorgan Chase
No one can be sure how these developments will affect silver prices in the near term. Fools who were already bullish on silver's prospects, however, will find added comfort in understanding that these events help pave the way for silver to truly shine.
Fortunately, Fools need not go back to the drawing board for a brand-new silver strategy. Holding roughly equal parts gold and silver bullion, Central Fund of Canada
Among the miners, I've been taking a fresh look at Hecla Mining
Looking forward, Hecla is targeting 60% production growth at the Lucky Friday mine over the next four years. Exploration success at the property has expanded the ore-body and improved the overall grade. At Greens Creek, Hecla seeks to tweak throughput (ore-processing capacity) for a 10% production increase. At the same time, Hecla is explicitly on the lookout for strategic acquisitions that will leverage the company's cash flow prowess to fast-track mine development.
As Endeavour Silver
I continue to consider Hecla Mining one of several terrific investment opportunities in silver, and I'm still holding the stock myself. I've added Hecla and a host of related stocks to my silverminer CAPS portfolio, and I encourage you to cast a vote on the company within your own free CAPS account.
Fool contributor Christopher Barker can be found blogging actively and acting Foolishly within the CAPS community under the username TMFSinchiruna. He tweets. He owns shares of Central Fund of Canada, Endeavour Silver, and Hecla Mining. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool's disclosure policy never manipulates anything.