David Morgan

Proprietor of Silver-Investor.com

#soundmoneyconf

Silver Investor

David Morgan Presents … David Morgan Presents …

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Silver use continuesto Increase

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Medical Uses

• This silver-imbedded implants • Wound dressings• Home health (toothbrush)• Silver used to coat hospital needles,

catheters and breathing tubes is growing. Also: furniture, walls, floors and cabinets.

TitleConsumer Products

Electronics• Flat screen TV’s• Cellphones, computers, • Batteries • Soldering (silver not lead

based)

Clothing• Polyester• Textiles

Home Appliances •Refrigerators•Washing machine•Surface areas

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Solar Power Concentration

• Silver is being used to coat mirrors that concentrate sunlight as a heat source for conventional power plants.

Gold or Silver?

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Silver Supply/Demand

Global Silver Supply/Demand

Silver Mining Increase 2020

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Supply growth-Mining

Assume a 2-3% per year (?) = 20M ounces per yearBy 2020 total supply INCREASE would be 150 million ounces

(800 million ounces vs. 650 million currently)

But just the Industrial demand alone is 230 million!

Bottom line 230 million needed annually by 2020Mining produces 150-200 by 2020 something has got to give!

Industrial Demand 2020

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Jessica Cross, VM Group – Great Britain

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Jessica Cross, VM Group – Great Britain

Industrial Demand

Water/Food Purification to require 100M oz by 2020Solar Applications 130 M by 2020

Increase = 230M in 2020

This assumes no increase in consumer electronics, electrical power distribution, maglev trains, textiles etc.

Investment Demand 2020

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Investment Demand

300M to 600M (2006 to 2010) = 14% compound growth

Not growing at that rate so far in 2010

Assume 100M in investment demand per year over the next decade (conservative)

Bottom line mining increase is 20-30 million ounces per year but investment demand is at least three times greater!

ConclusionSomething has got to give!

Investment 100M annually and increasing?Industrial 230M increase by 2020Total Increase 330M in 2020

Mining Increase 200 M in 2020(Deficit of ~130M)Will we go back into a silver deficit before 2020

Silver has more favorable dynamics than GOLDThis was understood by Warren Buffet, George Soros, Bill Gates, and some of our consulting clients.

Where are we now?

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TitleGOLD/SILVER -VS- 50 HISTORICAL BUBBLES

TitleThe Ultimate Black Swan Indicator

Books --

Books –for further reference

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David Morgan

Proprietor of Silver-Investor.com

#soundmoneyconf