NetworkNewsBreaks – Eloro Resources Ltd. (TSX: E
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Posted On: 08/10/2023 3:32:03 PM
NetworkNewsBreaks – Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) Emerging as a Key Beneficiary from Global Boom in Silver Demand
Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. “The shift away from fossil fuels and towards renewable energy sources is resulting in a spending surge that is set to directly benefit businesses entrenched within the global renewable energy supply chain. In particular, commodities such as silver – a critical component within green energy technologies – are poised to witness a dramatic uptick in demand… Global demand for silver rocketed by 18% last year to a record high of 1.24 billion ounces, resulting in a significant supply deficit, according to the Silver Institute. The silver market was undersupplied by 237.7 million ounces in 2022, the Institute said in its latest World Silver Survey, calling this ‘possibly the most significant deficit on record,’” explains a recent article. “With its sights set on developing its promising Iska Iska project, Eloro has emerged as one of the key potential beneficiaries from the global boom in silver demand. Nestled in the foothills of Bolivia’s Cerro Rico de Potosi, Eloro Resources’ Iska Iska deposit is situated deep within a region renowned for its prolific silver deposits… Eloro Resources’ initial exploratory drilling work within the Iska Iska deposit thus far has revealed the existence of a ‘magnificent core, which is remarkably consistent, continuous and high-grade at 90g/t silver equivalent and greater.’”
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Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. “The shift away from fossil fuels and towards renewable energy sources is resulting in a spending surge that is set to directly benefit businesses entrenched within the global renewable energy supply chain. In particular, commodities such as silver – a critical component within green energy technologies – are poised to witness a dramatic uptick in demand… Global demand for silver rocketed by 18% last year to a record high of 1.24 billion ounces, resulting in a significant supply deficit, according to the Silver Institute. The silver market was undersupplied by 237.7 million ounces in 2022, the Institute said in its latest World Silver Survey, calling this ‘possibly the most significant deficit on record,’” explains a recent article. “With its sights set on developing its promising Iska Iska project, Eloro has emerged as one of the key potential beneficiaries from the global boom in silver demand. Nestled in the foothills of Bolivia’s Cerro Rico de Potosi, Eloro Resources’ Iska Iska deposit is situated deep within a region renowned for its prolific silver deposits… Eloro Resources’ initial exploratory drilling work within the Iska Iska deposit thus far has revealed the existence of a ‘magnificent core, which is remarkably consistent, continuous and high-grade at 90g/t silver equivalent and greater.’”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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