BAYHORSE SILVER GRANTS OPTIONS Bayhorse Silver Inc. BHS: TSX -V (the “Company” or “Bayhorse“) has granted 8 00,000 incentive
November 18, 2015 BHS2015-35
BAYHORSE SILVER GRANTS OPTIONS
Bayhorse Silver Inc. BHS: TSX-V (the “Company” or “Bayhorse“) has granted 800,000 incentive stock options to Officers, Directors and Consultants to the Company, exercisable for five years at a price of $0.10 cents per common share. During the past 12 month period 350,000 options were cancelled and 200,000 options were exercised.
In recent Silver news, Gold Fields Mineral Service (GFMS), in their latest silver survey, showed the global silver market is set for an annual physical deficit of 1,328 mt in 2015, as weak supply outweighs an annual fall in demand,.
According to GFMS the deficit will be the third consecutive year the metal has been in physical shortfall, following deficits of 1,082 mt in 2014 and 3,368.5 mt in 2013, yet net outflows from exchange-traded fund silver holdings and exchange inventories on a year-to-date basis means the net deficit is expected to be only 662.5 mt, according to the survey.
Although deficits do not necessarily influence prices in the near term, GFMS said that "multiple years of annual deficits can begin to apply upward pressure to prices in subsequent periods." GFMS forecasts silver prices to average $15.51/oz in 2015.
The Company views the GFMS report as positive news for the silver market as we proceed with underground operations at our Bayhorse Silver Mine.
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Bayhorse Silver Inc. is a junior exploration company that is earning an 80% interest in the historic Bayhorse Silver Mine in Oregon ,USA that has the potential for a substantial silver discovery. The Company has an experienced management and technical team with extensive exploration expertise. This News Release has been prepared on behalf of the Bayhorse Silver Inc. Board of Directors, which accepts full responsibility for its contents.
On Behalf of the Board
Graeme O'Neill, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.