It’s that time again, so with two months of 2012 now out the back door here’s our first look at the gaggle of little silver plays we call the “small silvers” for the 2012 sweepstakes. Which companies will fare the best in the competitive pile during 2012? Only time will tell.
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It’s still early days, but the general story here is that the dogs of 2011 are bouncing more quickly than the better performing issues of last year. Top after two months comes IMPACT Silver (IPT.v) and then MAG Silver in second (why they insist on spelling their names in capslock is beyond me, so decade-ago it hurts) and in third that perennial dog Golden Minerals (the one that sucked up ECU Silver) actually making a move for a change (Adam Graf must have a woody on by now). Still, wins are wins and so we tip our hat to the front three.
Then come a closely matched bunch in GPR.to, USA.to, FVI.to and SLV, the silver ETF and our benchmark to performance. This means that First Majestic (FR.to) so far at least is a slight underperformer. However real underperformance so far is only seen in Bear Creek (BCM.v) and Endeavour (EDR.to) though we confidently predict that one of those two will bounce very well as 2012 unfolds. Watch this space for the next Small Silvers update end March.