SideNote: Yep, we can see Jim Rogers market MAXIM applied to low prices in the physical silver market "Cure for Low Prices is Low Prices. It cuts back supply and increases demand."

GRIM

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IT BEGINS… Primary Silver Mining Company To Cut Production 25% In 2016

January 29, 2016 - 10:49pm

The low price of silver has finally claimed its first victim. Endeavour Silver announced that it will cut silver production by 25% in 2016. The company has three mines working in Mexico and will produce 7.2 million oz (Moz) of silver in 2015. However, Endeavour plans to shut down production of one of their mines by the end of 2016 and put it on care and maintenance. (care/maintenance =mothball)

Endeavour’s El Cubo Mine is a high-cost marginal mine with the silver spot price at $14. It will be interesting to see if other primary silver mining companies also announce a cut back in production this year.