fr is another of the up and coming silver juniors i had mentioned some time ago. they just released their year-end results for 2007:

revenue was up 68% to $43 million

mine earnings were $15.9 million

production was up to 3.56 million silver-equivalent oz. silver, and forecast to increase to 5.5 million oz. in 2008

the company is well funded with $53 million in the treasury

the only fly in the ointment is that the company reported a net loss of $7.2 millon for the year. that's why i consider these small silver companies to be explorers, not producers. fr has three operating mines, but between them they produced less than 4 million oz. silver. again, i think fr is a good company, and they are projecting strong growth going forward. but like endeavour silver, they just aren't making any money yet.

that won't happen when sso puts pirquitas into production, one mine capable of producing 10+ million oz. per year, with all of the economies of scale that go along with it.