Unsplash photo by Wolfgang Hasselmann
Silver, like gold, is a precious metal that is frequently referred to as an investing safety net. Silver, like many other tangible assets, moves in the opposite direction of stock and bond markets.
Silver can shield an investor from market downturns and even act as an inflation hedge. Silver is also useful for diversifying an investing portfolio by adding variety to popular securities such as stocks, bonds, and exchange-traded funds (ETFs).
Despite its reputation as a safe haven, silver has had its fair share of price fluctuations. Traders on Reddit’s WallStreetBets site, for example, pushed the #silversqueeze movement forward in February 2021, sending silver prices to an eight-year high.
One company continues to stand out for investors who believe the #silversqueeze trend will continue to push prices up to new highs, or who are simply seeking for an age-old strategy to add additional diversification to their portfolios: Lakewood Exploration Inc. (CSE: LWD).
Why are silver investors interested in Lakewood Exploration?
Silver Hammer Mining, as well as the Silver Strand and Burnt Cabin mines, were recently acquired by Lakewood Exploration, a Canadian silver exploration company. Lakewood Exploration is on course to become Idaho’s newest pure play near-term silver miner in the world-class Coeur d’Alene mining district, which has produced over 1.2 billion ounces of silver in addition to considerable amounts of lead, zinc, and copper.
Investors are paying attention to Lakewood Exploration’s new finds within the Silver Strand mine, which are attracting interest from those looking for more exposure to rising silver prices.
The Silver Strand is made up of 70 claims spread out over 5.5 kilometers (3.4 miles) of Idaho’s silver belt, which has yielded 1.2 billion ounces of silver. It’s only been mined to a depth of 90 meters (295 feet) so far, despite the fact that world-class mines on the same belt, in the same rock formation, have been exploited to depths of 2,000 meters (6,562 feet) or more. Already, the geology of the Silver Strand mine shows huge promise for silver and other precious metals.
Because the Silver Strand is situated on top of the Revett formation, mineralization could extend thousands of feet below the surface, as it has at other significant mines along the belt. Similar mines have produced anywhere between 100 and 350 million ounces of silver. The Silver Strand also contains a surface gold component that isn’t found in any of the other mines in the area.
Investing in the Silver Discovery Potential of Lakewood Exploration
The Canadian Securities Exchange lists Lakewood Exploration as a publicly traded firm. The company is well-funded, with cash reserves of over $3.5 million and a tight share structure, with management and insiders owning roughly 45 percent of the 25.2 million outstanding shares. Lakewood Exploration has a market capitalization of approximately $16 million.
More information on Lakewood Exploration’s stock data and financial reports may be found here.
(c) Benzinga.com, 2021. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
