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Will Silver Continue to Underperform?

NEW YORK, NY -- (Marketwire) -- 04/09/12 -- The investment environment is bleaker than it was last year for silver enthusiasts. Angelos Damaskos, chief executive of Sector Investment Managers, observed "Now we are back to the normal situation, where silver behaves much more like industrial metal. Investors are no longer looking at it as a safe-haven asset," and going on further to say "It will probably underperform for a good few years." Five Star Equities examines the outlook for companies in the Silver Industry and provides investment research on Coeur d'Alene Mines Corporation (NYSE: CDE) (TSX: CDM.TO) and Silver Standard Resources Inc. (NASDAQ: SSRI).

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"There are two issues that in the short term suggest we are not going to head back towards $50," Mitsui Precious Metals strategist David Jollie said. "One is that margins on Comex are still higher than they were last year, so investors are going to have to come back in more weight to drive the price further." He added, "At the same time, silver turnover on the Shanghai Gold Exchange is relatively low compared to where it was last year."

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Coeur d'Alene Mines Corporation, based in Coeur d'Alene, Idaho, said fourth-quarter net income was $11.4 million, or 13 cents per share, compared with a loss of $5.1 million, or 6 cents per share, in the same quarter of 2010.

Silver Standard Resources Inc. recently announced it has entered into two separate contracts with smelters to sell a significant portion of monthly silver concentrate production from its Pirquitas silver mine in Argentina. In aggregate, the two contracts total 700 tonnes of silver concentrate per month, approximately 60% of the monthly production at Pirquitas.

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