Wednesday, February 22, 2012

Gold Mining CEO Tells CNBC of 'Fantastic Opportunity', 'Lack of Supply' in Silver!

Someone at CNBC is about to be in the dog-house big time for not properly researching the views of Gavin Thomas, CEO of Australian Gold gold miner, Kingsgate Consolidated, who today told CNBC that silver is a fantastic opportunity, there is a lack of supply of silver, and he expects silver to rise to $50 over the next 24 months.

Silver is a fantastic opportunity…I see there’s a lot of upward price (for the metal), because of the lack of supply,” Thomas told CNBC on Wednesday, adding that silver could rise to $50 per ounce over the next 24 months.
Supply of sliver is under pressure because, lead and zinc mining, which silver is a bi-product of, is becoming less prolific, Thomas said. At the same time, he notes that demand for silver is increasing as medical and industrial uses for the metal are discovered and investment interest from India and China rise.
India and China are slowly turning to silver as a means of hoarding wealth, as gold is becoming more difficult to obtain (due to higher prices),” he said.
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