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Silver price to rise "substantially" -Hecla CEO
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Hecla Mining Company
HL.N
$6.34
+0.07+1.12%4:03pm UTC-0300
Tue Sep 21, 2010 1:11pm EDT
* Sees silver at $25-$30/oz in next year
* Expects demand growth at more than 6 pct/yr
DENVER, Sept 21 (Reuters) - The price of silver is expected to rise "substantially" in tandem with the gold price, the head of Hecla Mining Co (HL.N) said on Tuesday.
President and Chief Executive Phillips Baker also told Reuters that demand for silver is starting to rise after the recession, and he expects it to grow by more than 6 percent a year as the global economy expands.
"I have the view it is going to go up substantially and I certainly would not be surprised to see $25 to $30 (within a year)," Baker said in an interview on the sidelines of the Denver Gold Forum industry gathering.
http://www.reuters.com/article/idAFN212 ... 921?rpc=44