This is what a broad-based metals and mining rally looks like

Canadian Silver Bear Resources (TSX:SBR) posted Wednesday an operational update and announced its financial results for the first quarter of 2012.

Pan American Silver Corp. (TSX: PAAS, NASDAQ: PAA.T) first-quarter profit fell 46% as the costs of acquiring a Mexican gold and silver operation covered a revenue increase.

Over the past decade, mining investment in Latin America has more than doubled, even after experiencing a sharp drop in 2009. According to a report by the Metals Economic Group, Latin America is now the primary destination for mining exploration investment in the world, with 25% of total investment going to Chile, Peru, Brazil, Colombia, Mexico and Argentina.

Brazil's Eike Fuhrken Batista is the world of mining's richest man and he's been on a roll this year – until Tuesday when $1,023,200,000 disappeared from his personal fortune.

First Majestic Silver Corp shed most on the day and industry bellwethers Silver Wheaton and Pan American Silver both hit 52-week lows.

Mexico, the world’s largest silver producer, is expected to become the next source of “mega” gold projects as experts predict its bullion production will increase considerably in the next five years.

"What is more disconcerting is that while investors have over the past few weeks appeared cautious of running too short on gold, this fear looks to have evaporated."

When Kim got involved with Kazakhmys (then called ZhezkazganTsvetMet) during the 1990s the Soviet era the state company was in complete disarray and debt laden. He turned Kazakhmys into a $6 billion company and amassed a personal fortune of $3.5 billion along the way.

Greek politicians are struggling to form a new government. Concerns are increasing that Greece will drop the euro.