Silver gets little attention compared to gold, but silver often follows gold. With gold up significantly in 2019, and silver starting to catch up, investors would be wise to look again at some silver miners. One in particular is set to soar as it has definitely flown under most investors radar, and appears to be very undervalued. This stock has had a great 2019, drawing in the attention of Eric Sprott as a significant investor.Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF) specializes in mine permitting, construction, and operations. Prophecy is developing the massive Pulacayo-Paca Silver Project in Bolivia and the Gibellini Vanadium Project in Nevada. The Company is managed by mine builders with a combined 100 years plus of industry experience.
The Pulacayo-Paca Silver Project in Bolivia
Prophecy acquired the project in 2015 at the bottom of the silver cycle when silver was priced at US$14/oz. According to Prophecy: “Based on historical production the mine is the second largest silver mine in the world.” It is very well advanced with over 95,000 meters of drilling, a Feasibility Study, and is fully environmentally compliant.Executed on October 3, 2019 the Pulacayo-Paca Mining Production Contract between Prophecy and the Bolivian government grants Prophecy the 100% exclusive right to develop and mine at the concessions for up to 30 years. This is comparable to a mining license in Canada or the United States.John Lee, Executive Chairman of Prophecy Development Corp., stated: “It is only recently that we started the program on this wonderful silver project called Pulacayo in Bolivia.”
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