Technical Trade Alerts on Silver Stocks: SIL, SSRI, SLW, HL, CDE, PAAS for Nov. 5

Apex Silver Mines Ltd. (SIL) Trade Alert – SIL's Subsidiary Enters Amendment to Loan Agreement

Apex Silver Mines Ltd. (SIL) shares closed yesterday at $1.76, up 30.37% from the previous close of $1.35. Apex Silver engages in the mining, exploration, development and operation of silver and other mineral properties.

The company previously sold 35% of Minera San Cristobal S.A. to Sumitomo Corp. for $224 million in cash and a deferred payment agreement valued at $108 million September 8, 2006. Minera, now a 65% owned indirect subsidiary of Apex Silver, recently entered into an amendment to the loan agreement dated August 11, 2008, with SC Minerals Aktiebolag, a subsidiary of Sumitomo.

Under the terms of the Amendment, Sumitomo has agreed to increase by $25 million the amount available for borrowing by Minera. This amount may be used solely to fund Minera's operating expenses and is in addition to the $50 million already borrowed by Minera pursuant to the loan agreement.

Analysts recently expressed concern about the multi-million-dollar funding requirements of the San Cristobal silver mine in Bolivia, which, according to them, is the only important asset Apex Silver currently owns. In response, Apex Silver announced it had reached an agreement with joint venture partner Sumitomo to sell the rights for deferred payments to Sumitomo for $70 million.

Apex Silver has rights to or control over various claims or concessions located in or near the silver producing regions of Central and South America, including Argentina, Mexico, Peru and Bolivia.

The company owns a 65% interest in the San Cristobal silver, zinc and lead mines located in southwestern Bolivia.

As of December 31, 2007, Apex Silver had proven and probable reserves of approximately 250 million tonnes of ore grading 55 grams per tonne silver, 443 million ounces of silver, 8.43 billion pounds of zinc and 2.92 billion pounds of lead.

In today's daily chart, SIL's MACD reflects a weak bullish signal, with the indicator trending above the 9-day moving average signal line but still below the 0 level, indicating bearish moving averages. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. With share prices currently above the stock's 13-day moving average, a bullish trend is generally indicated.

Silver Standard Resources Inc. (SSRI) Trade Alert – SSRI's Diamond Drilling at Snowfield outlines New Gold-Copper Zone

Silver Standard Resources Inc. (SSRI) shares closed yesterday at $10.51, up 21.93% from the previous close of $8.62. Silver Standard engages in the acquisition, exploration and development of mineral resource properties, primarily silver, gold and copper in Argentina, Australia, Canada, Chile, Mexico, Peru and the United States.

The company recently announced the recent diamond drilling at its wholly owned Snowfield project has outlined a new gold-copper zone. Located 40 kilometers north of the town of Stewart in northern British Columbia and 15 kilometers southeast of Barrick's high-grade gold-silver mine at Eskay Creek, the Snowfield property measures approximately 700 meters by 800 meters and lies 500 meters east of Seabridge Gold's Mitchell Deposit. The company's 2008 Snowfield program comprised 16,945 meters of diamond drilling in 31 holes.

Silver Standard also announced it will release its third quarter 2008 financial results before the market opens Wednesday, November 5, 2008. A conference call with management to review third quarter 2008 financial results and project activities is also scheduled on the same day.

The company owns 100% interests in the Pirquitas project located in the Province of Jujuy, Argentina; Pitarrilla project in Durango State, Mexico; Snowfield project in British Columbia, Canada; and Diablillos project in Salta Province, Argentina, as well as holds a 55% interest in the San Luis project in the Ancash Department, Peru.

It also owns 100% interests in the Berenguela project in Peru; Challacollo project in Chile; Candelaria mine in west central Nevada; Bowdens project in Australia; Silvertip project in northern Canada; Sulphurets project in Canada; Sunrise Lake deposit in the Northwest Territories, Canada; and Veta Colorada project in Mexico, as well as a 55% interest in the Maverick Springs project in northern Nevada.

In addition, the company holds 100% interests in the San Agustin property in Durango State, Mexico; and San Marcial project in Mexico, as well as has interests in the Duthie and Silver Standard Mine properties.

It has a strategic alliance with Minco Silver Corp. to pursue silver opportunities in China.

In today's daily chart, SSRI's MACD reflects a weak bullish signal, with the indicator trending above the 9-day moving average signal line but still below the 0 level, indicating bearish moving averages. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. With share prices currently above the stock's 13-day moving average, a bullish trend is generally indicated.

Silver Wheaton Corp. (SLW) Trade Alert – SLW Reports Higher Q3 Net Earnings, Enters New Purchase Agreements

Silver Wheaton Corp. (SLW) shares closed yesterday at $4.48, up 21.08% from the previous close of $3.70. Silver Wheaton, a mining company, engages in silver production. It is the largest public mining company with 100% of its revenue generated from the sale of silver.

The company recently announced net earnings for the third quarter of 2008 at $20.2 million, or 9 cents per share, from the sale of 2.7 million ounces of silver, compared to $19.2 million, or 9 cents per share, from the sale of 3.1 million ounces of silver in 2007. It also reported operating cash flows of $26.7 million, or 12 cents per share for the third quarter this year.

An early exercise of the company's share purchase and Series "A" publicly traded warrants was successfully completed September 15, 2008. The company received gross cash proceeds in excess of $120 million ($113 million), which were used to pay down its bank debt.

Recently, the company entered into an agreement with Alexco Resource Corp. to acquire 25% of the silver produced from Alexco's Keno Hill project located in the Yukon Territory, Canada, for the life of the mine. Silver Wheaton will make upfront cash payments totaling $50 million and, in addition, a per ounce cash payment of the lesser of $3.90 and the prevailing market price is due, for silver delivered under the contract.

The company also announced it has signed a letter of intent with Augusta Resource Corp. dated October 31, 2008, regarding a new silver purchase agreement. Both companies consider it is in their best interests to negotiate and complete the new transaction based on a percentage of silver to be determined once the updated study has been completed.

Silver Wheaton purchases silver from Goldcorp mines in Mexico, Zinkgruvan Mine in Sweden, Yauliyacu Mine in Peru and Stratoni Mine in Greece.

The company has entered into nine long-term silver agreements with Goldcorp (Luismin mines and Penasquito project in Mexico), Lundin Mining (Zinkgruvan mine in Sweden), Glencore (Yauliyacu mine in Peru), Hellas Gold (Stratoni mine in Greece), Mercator (Mineral Park mine in Arizona), Farallon (Campo Morado property in Mexico), Aurcana (La Negra mine in Mexico) and Alexco (Keno Hill property in Canada) whereby Silver Wheaton acquires silver production from the counterparties at a price of $3.90 per ounce, subject to inflationary adjustments. As a result, the primary drivers of the company's financial results are the volume of silver production at the various mines and the price of silver.

The company estimates, based upon its current agreements, to have silver sales of 3 million ounces for the fourth quarter of 2008, 15 million to 17 million ounces in 2009 and increasing to approximately 30 million ounces by 2013.

In today's daily chart, SLW's Bollinger Bands indicate greater than normal volatility as reflected by an increase in distance between the upper and lower bands. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. MACD reflects a weak bullish signal, with the indicator trending above the 9-day moving average signal line but still below the 0 level, indicating bearish moving averages. With share prices currently above the stock's 13-day moving average, a bullish trend is generally indicated.

Hecla Mining Company (HL) Trade Alert – HL Incurs Net Loss for Q3 2008 on Higher Cash Costs

Hecla Mining Company (HL) shares closed yesterday at $2.72, up 13.81% from the previous close of $2.39. Hecla Mining, a precious metals company, engages in the discovery, acquisition, development, production and marketing of silver, gold, lead and zinc.

The company recently reported a net loss of $3.8 million for the third quarter of 2008 compared to net income of $13 million for the same period of 2007. It also reported a loss applicable to common shareholders of $7.2 million, or 5 cents per share, for the third quarter of 2008, compared to income applicable to common shareholders of $12.3 million, or 10 cents per share, for the third quarter of 2007.

The losses for the third quarter of 2008 were primarily attributable to higher cash costs per ounce due to increased smelter costs and diesel fuel prices, provisional price adjustments due to decreased metals prices and increased interest expense resulting from the company's acquisition of the remaining 70.27% of the Greens Creek joint venture in Alaska.

According to Hecla Mining, it has $161 million in debt remaining after completing the $750 million purchase of Greens Creek. However, the company remains on track to meet the estimate of approximately 9 million ounces of silver production in 2008, at an average total cash cost in the range of $3.50 per ounce.

The company owns a 100% interest in the Lucky Friday unit located in northern Idaho; a 29.7% interest in the Greens Creek unit located on Admiralty Island, near Juneau, Alaska; and a 100% interest in the San Sebastian unit in the state of Durango, Mexico.

It produces and sells metal concentrates to custom smelters; and unrefined gold bullion bars directly to customers or further refines before sale to precious metals traders.

In today's daily chart, HL's MACD reflects a weak bullish signal, with the indicator trending above the 9-day moving average signal line but still below the 0 level, indicating bearish moving averages. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. With share prices currently below the stock's 13-day moving average, the bearish signal is more pronounced with decreasing the moving averages.

Coeur d'Alene Mines Corp. (CDE) Trade Alert – CDE Reports 25% Increase in Q3 Silver Production, Lower First Nine Months Revenue and Production

Coeur d'Alene Mines Corp. (CDE) shares closed yesterday at 73 cents, up 10.61% from the previous close of 66 cents. Coeur d'Alene, through its subsidiaries, engages in the operation, ownership, development and exploration of silver and gold properties and companies located primarily in the United States, South America, Australia, Mexico and Africa.

The company recently announced a 25% increase in its third-quarter silver production to 3.1 million ounces compared to the second quarter. This increase is mainly a reflection of the silver production contribution from the company’s San Bartolomé mine.

According to Coeur d'Alene, performance at its San Bartolomé plant reached design capacity levels and its operation remains on target for nearly 3.2 million ounces of silver production this year and 9 million ounces in 2009.

Silver production during the first nine months of 2008 was nearly 8.0 million ounces, down 4.3% from the first nine months of last year. This lower production result is primarily due to the transition from mining to processing-only activities at the company’s Rochester mine in Nevada that took place in August of last year.

Coeur d'Alene also announced sales of metal for the first nine months of 2008 of $147.1 million, down from $155.4 million in the first nine months of 2007. The company’s net loss of $4.3 million during the first nine months of 2008 includes $23.3 million of pre-development costs and non-cash mark-to-market adjustments related to metal sales yet to be finalized with smelters.

However, the company’s cash costs remained competitive during the first nine months of 2008 despite inflationary pressures affecting many key inputs including diesel, labor and power. Cash costs averaged $4.99 per ounce of silver year-to-date, an increase of only 55 cents per ounce over the first nine months of last year.

Coeur d'Alene also explores for lead and zinc in its properties. It holds 100% interests in the Rochester mine located in northwestern Nevada; the Cerro Bayo mine in southern Chile; the Martha mine located in Santa Cruz, Argentina; the Endeavor mine situated in New South Wales, Australia; and the Broken Hill mine located in New South Wales, Australia.

The company also owns interests in the San Bartolome project in Bolivia; the Kensington property located to the north of Juneau, Alaska; the Palmarejo property in the Sierra Madre Occidental of northern Mexico; and other properties in the Lake Victoria Goldfields District of northern Tanzania.

In today's daily chart, CDE's Bollinger Bands indicate above normal volatility as reflected by an increase in distance between the upper and lower bands. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. MACD reflects a weak bullish signal, with the indicator trending above the 9-day moving average signal line but still below the 0 level, indicating bearish moving averages. With share prices currently below the stock's 13-day moving average, the bearish signal is more pronounced with decreasing moving averages.

Pan American Silver Corp. (PAAS) Trade Alert – PAAS Reports High Grade Results at Morro Solar Vein

Pan American Silver Corp. (PAAS) shares closed yesterday at $14.05, up 22.49% from the precious close of $11.47. Pan American Silver is engaged in silver mining and related activities, including exploration, mine development, extraction, processing, refining and reclamation.

The company recently announced high grade drill results from the newly discovered Morro Solar vein at its Morococha mine in Peru. The Morro Solar vein was identified during surface exploration and has been mapped over a continuous distance of more than 2.5 km along strike. At present, the exploration drill program has covered only 800 meters along strike and 150 meters down dip of this major structure.

The vein shows the typical characteristics of the district with large high grade ore shoots separated by lower grade intervals. In addition to Morro Solar, exploration drilling has identified at least 10 additional parallel veins in the area.

At present, exploration activities at Morro Solar consist of 26 surface and four underground diamond drill holes.

Pan American Silver also announced its unaudited production and financial results for the third quarter of 2008 will be released Thursday, November 13, 2008, before the market opens. A conference call and live audio Web cast to discuss the results the same day.

The company's mission is to be the world's largest and lowest cost primary silver mining company by increasing its low cost silver production and silver reserves.

It has seven operating mines in Mexico, Peru and Bolivia. An eighth mine in Argentina is scheduled to commence operations in the fourth quarter of 2008.

In today's daily chart, PAAS' MACD reflects a weak bullish signal, with the indicator trending above the 9-day moving average signal line but still below the 0 level, indicating bearish moving averages. Trading within its Bollinger Bands, the stock reflects neither an overbought nor oversold condition relative to its recent price trend. With share prices currently above the stock's 13-day moving average, a bullish trend is generally indicated.

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