Silver

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Hecla Mining Company (“Hecla”) (NYSE:HL) today announced third quarter net income of $55.8 million, or $0.20 per basic share, and earnings after adjustments applicable to common shareholders of $35.4 million or $0.13 per basic share.1 Third quarter silver production was 2.3 million ounces at a cash cost of $0.67 per ounce, net of by-products.2 “From this quarter, we are poised to grow production 50% over the next five years.”

Animation Insider reports SpongeBob SquarePants contributes a hefty amount to Nickelodeon Consumer Product's estimated $5.5 billion in annual, worldwide retail sales. For international coin collectors – or for that one die-hard SpongeBob fan who must have absolutely everything – two companies are partnering with Nickelodeon to manufacture a limited run of four, one-ounce, silver legal tender, based on the cartoon. PFG Precious Metals from Chicago, a wholesale precious metals company, and the New Zealand Mint, a respected minter legal tender for four and a half decades, are now accepting orders for SpongeBob silver.

A husband and wife in the U.S. face 20 years of prison time for tax evasion due on the many properties they hold. Before they were tripped up by the authorities, the colourful couple required that renters pay them in silver coins. The couple, who called themselves sovereign citizens while living in Alabama, also buried $350,000 worth of gold coins in their backyard.

Junior zinc producer Canadian Zinc (TSE:CZN) reported a $5.3 million loss in the third quarter, which it attributed to higher exploration expenses and losses in the value of its shares in a Fijian mine.

It seems that Guatemala's poor will go to extreme lengths for the chance to find valuable precious metals. The Associated Press reports that hundreds of people regularly search for jewelry and scraps of metal among the trash that spills from a drainage tunnel into Guatemala City's main landfill: Every day, about 300 hike to the bottom of the ravine and wade into the water in search of rings and bracelets made of silver or gold. The water sifts and carries away the lighter garbage, leaving heavy metals on the stream bed.

Peru can remain competitive with neighbouring Chile despite a recent decision to hike mining taxes. Peru, the world's third largest copper producer, is able to offset its higher tax on mining companies (which is 3.8 percentage points higher than Chile's) recently imposed by new President Ollanta Humala, because it has cheaper labour and electricity costs, reports Bloomberg:

South America-focused Yamana Gold (TSE:YRI) increased production and revenue targets for the third quarter, and rewarded shareholders with a 63% dividend increase. Toronto-based Yamana boosted production 4% to 279,274 gold-equivalent ounces (GEO) and brought in $555 million for the quarter — a 22% increase. Operating cash flow rose 57% to $330 million. The higher output came despite lower production at some of Yamana's mines in Brazil, Chile and Argentina. The best production figures came out of the El Peñón mine in Chile, which posted a 15% increase in GEO, and the Gualcamayo mine in Argentina, which marked a 17% improvement.

Greg Johnson, President and CEO of South American Silver (TSE:SAC), explains the development valuation cycle, and how silver companies gain value throughout the exploration process. This video shows investors that if they are able to identify high quality deposits early in the development cycle, they can make large profits.

CALGARY, ALBERTA--(Marketwire - Nov. 1, 2011) - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) ("TVI" or the "Company") announced today that it has been advised by its Philippine affiliate, TVI Resource Development (Phils.) Inc. ("TVIRD") that TVIRD is preparing to file a series of legal actions in Philippine courts to prevent the implementation of an Ordinance scheduled to come into effect in the Province of Zamboanga del Norte on November 6, 2011. The Ordinance, filed with no advance notice to TVIRD or TVI, purports to ban new open pit or open cut mines in the Province of Zamboanga del Norte and causes the closure process of existing such mines to begin one year from now, or November 2012. TVIRD intends to continue operating at Canatuan without disruption during this period. This Ordinance has no impact on TVIRD's gold development project at Balabag as it is in Zamboanga del Sur, a different province. Development plans continue at Balabag.