Two Silver Mining Companies Updated -Yahoo Finance

Yahoo Finance: In Play
"Silver Wheaton announced that attributable proven and probable reserves more than doubled in 2009, to include an increase of 431 million ounces of silver. The company announced that attributable proven and probable reserves more than doubled in 2009, including an increase of 431 million ounces of silver for a record of 875 million silver equivalent ounces. Over the same period, attributable measured and indicated resources increased by 72%, including an increase of 141 million ounces of silver to a record 366 million silver equivalent ounces. Attributable inferred resources increased by 4%, including an increase of 12 million ounces of silver and 50,000 ounces of gold, to a record 408 million silver equivalent ounces. Silver Wheaton acquired 25% silver production from the Pascua-Lama project for the life of the mine, as well as 100% of the silver production from the Veladero, Lagunas Norte and Pierina mines until the end of 2013, these mines were responsible for much of the Wheatons's total reserve growth in 2009."

"Silvercorp Metals (SVM) reported results of a new Technical Report updating the resources and reserves at its silver-lead-zinc projects in the Ying Mining District in Henan Province, China. The report is the first to establish Proven and Probable reserves at the district of 63.4 mln ounces of silver.  Inclusive of the mineral reserves, the updated in-situ mineral resource estimate at the district is 69.0 mln ounces of silver in the Measured & Indicated categories and an additional 87.7 mln ounces of silver in the Inferred category."

I think a lot of this silver is being bought up and used by industry as fast as they can mine it. Even the US Government did not mint some coin proofs this year for lack of silver reserves. Where do you think all of that silver is going?

Phoenix Investment Conference and Silver Summit

Come one, come all! The important thing is that you come! I’m talking about the Phoenix Investment Conference and Silver Summit on February 4 and 5, 2010. That’s a few days from now and I hope it’s not too late to invite you to this event. A friend of mine and author of  SilverStockReport.com, Jason Hommel will be speaking on the 4th just in case you wanted to hear him talk about our favorite topic – Silver and Gold.   It should be a very eventful 4+ hours. So again, I strongly encourage you to at least check it out. It’s always a good experience to attend these kinds of shows. It helps give us a chance to check out different perspectives and maybe learn a few things. The summit webpage can be viewed here.