Sorry to those that read the TRO post. but as it relates to silver in general I thought I'd Post it there.
I believe Tir-Origin to be the best silver stock in terms of value in Australia. (Not too hard considering how few there are).
Half of Tri Origin's mrket cap is shares in escrow till the end of 2006. Current cap of approx 8 - 9 million. 5 million in the bank. 18 million ounces silver looking to double that in the near future. If this occurs, it will come close to Macmin's indicated reserves. (Macmin has market cap of approx. 60 million. If exploration potential at Woodlan, 350,000oz Gold and significant zinc deposit factored in, this seems excellent value.
Using Jason Hommel's method of valuing silver companies, Tri-Origin has 9.5 ounces in the ground for every ounce of stock price. At present market cap, that doubles to 19. If reserves are doubled soon as management has indicated, that increases to 38. This does not include Gold credits. As a comparision Macmin is currently on 7.5. USA's Pan American Silver is on 5.7 and CDE is on 1.2. (including gold credits)
Management also seem to be very experienced in both mining as well as the area concerned.
I have an interest in U. S. silver stock and was going to park some more cash there, but decided TRO was just as good without the level of currency risk and stock crash risk.
Yes, this is a plug, but I'm excited to find such a good value silver stock in Australia. - there is so precious little available. Malachite is very promising with excellent propective land and brilliant management, but I would like to see an indicated resource soon. Malachite has a very small market cap and I believe they will find silver in minable quantities in them there hills. Malachite options, which expire at the end of 2006 is an easy way to leaverage an increase in silver price and/or a find by Malachite.
