Here’s the chart:
click to enlarge
So hats off and huzzahs to Endeavour Silver (EDR.to) (EXK), crowned 2011 Small Silver Champion. It might not be my own particular first choice, but there’s no knocking success so my sincere congratulations go out to EDR.
Second spot was sneaked at the line by First Majestic (FR.to) (AG), as third place finisher Fortuna Silver (FVI.to) (FSM) faded at the end of the year and was pipped for the place. Not too many tears lost however, as these three were the only ones to 1) make a net profit on the year and 2) beat out SLV, our silver bullion benchmark. Therefore EDR.to, FR.to and FVI.to did well on the year and all deserve pats on the back.
Then fourth was SLV, which means all below are official failures. Those include USA.to, IPT.v and GPR.to bunched at-or-around the 20% loss level. Then come the big losers, namely MAG Silver (MAG.to) (MVG), Bear Creek (BCM.v) and the worst of the lot, Golden Minerals (AUM.to) (AUMN).
Thus ends 2011 and let’s looks forward to a healthier 2012 for the sector.