The bad news is that SAC.TO hasn't turned a profit, although their losses in the most recent three-month and nine-month periods have attenuated from comparable periods in 2010. The price of silver is above its historical average; claims of demand growth aside, there is no assurance that this price will remain elevated forever. Always remember that the single most important determinant of a resource company's value is the market price of its resource.
Risk-seeking investors are welcome to take a closer look at South American Silver. I'd prefer a profitable company.
Full disclosure: No position in SAC.TO / SOHAF.PK at this time.