And today, I'm even more committed that I'm thinking, you know,
triple-digit silver, you know, I was always thinking on the low end of
that, you know, triple-digit silver, but now I'm thinking it's
possible to even get you know, into the higher end of that range.
I think, one day the physical Market will prevail and you know, I
sooner that happens, the better.
We were about 65 35.
Silver gold.
Now, we're 55 silver, 45 goals.
So, the ratios dropped a little bit.
We are producing more gold.
But, look, we looked at it from, from a growth perspective.
Like, you know, can we improve Jared Canyon, you know, can production
go up.
Can we, can we reduce cost?
You know, it didn't check the silver box, which is unfortunate, but
it's a great - been around for decades.
And we think with our
40s and capital and time that we could turn that into a world-class
operation and they used to be the largest gold mine in the state of
Nevada.
And we're going to increase in size compared to where it is today over
the next few years, you know, that's going to help gold of course and
then goes the granddaddy of Commodities and currencies call it.
What you will, what you may have, but silver will get dried along.
But now, I, you know, debasement or not.
I think silver still has
As a very good future based on supply-demand fundamentals.
You look at as a mining industry, the miners produce about 800 million
ounces of silver and Glee.
You look at electric vehicles will be consuming about a hundred
million ounces this year.
You look at solar panels and now they're hundred million ounces.
So you have two industries are consuming more than 10% at or close to
20% of the world production above ground supplies.
Are depleting at very fast rate the
I live in the, the deficit continues who we've had a decade of
deficits.
Where's the silver coming from?
You know, gold at 1,800 bucks workflows is not, that is not that bad.
Right?
I get asked, you're going back to the Acquisitions of above Jared
Canyon.
You know, I'm having gold on the portfolio.
I can tell you it's tough to be a pure silver company.
We were a 90% Silver Company.
We don't decade ago and it's very volatile when you're when you're
You're doing budgeting planning and you see silver moving the way it
does on an annual basis.
It becomes very difficult to plan the business, you know now with gold and silver.
Look at silver, silver went from 18 to 30.
Now to 23 in a matter of how many months six months, approximately
gold doesn't do that.
So, we now have a stable cash flow from our sale of gold and we allow
silver to fluctuate and it doesn't affect us as negatively as it use to.
So the business is much stronger as a
Solve having gold in the portfolio, but ask me about price
predictions.
I'm a 3000 gold guide.
I think, you know, and I know there's others that have higher
expectations, but you all take 3,000 our goal.
I'm not sure if we want.
I think within the next two or three years, you know, it's not showing up yet.
And I just don't think people get it, you know?
And talking about the, you know, what you're referring to about the
electric vehicles.
There's one point four billion cars automobiles sitting on the surface
surface of the Earth right now.
We're the automotive industry.
Worldwide produces 19 million automobiles per year of which 5 million
of those are electric cars.
So and and the electric vehicle business is consuming a hundred
million ounces of silver annually.
So if you're going to replace every fuel combustion car on the planet,
by call it 20, 30 color, 2035 call a 2040.
How are you going to replace a billion cars at the rate of 5 million
cars a year?
All that silver coming from.
So do the math for every 5 million cars.
You need a hundred million ounces of silver.
So simple, there's not enough silver on the planet that can meet the
demands of government.
Looks. Silver is a very electrically conductive material, and the only second
to Gold copper is very good as well.
But you know, when you're looking at a Tesla, for example, you know,
it's got six, the six thousand fuel cells in it with a computer.
Managing that battery face or they you know, and these batteries heat
up and cool down and you need a very sophisticated very fast computer
to be able to manage that, you know case the batteries you couldn't do
it with any other metal, you know, the cell phones computers, you
know, there's you know, 10 aluminum any potential replacement just
doesn't do the job.
Silver work is not replaceable.
And on our website, we say there's no substitute for silver and
there's not the the
Of the matter is the banks can write unlimited amount of paper
contracts, you know, if there's a flurry of silver buying that comes
into the marketplace and the banks don't want the price to move.
They can just manipulate it, they can just write as many contractors.
They wish to hold the price wherever they wish they had to be.
You look at uranium.
For example, just recently the Rainy uranium is on fire because
there's no Futures Market.
That is the spot base market.
And I've been saying for quite some time that we need to get rid of
the Futures Market because
That's destroying price Discovery because it's those banks that
control the market, the producer should be controlling price, not the
banks.
And we're not getting Fair dollar for the hard work and labor that
goes into the production of our metal was nice.
That I'm not alone anymore because when I first came up with that
phrase close to a decade ago, I was the only one and that thesis was
built on supply-demand fundamentals, on the technology of the day, you
know, mainly Electronics, computers.
Phones and so on.
But today we have two new driving forces which are electric cars and
solar panels.
These Technologies are these businesses really didn't exist to them
for the most part a decade ago.
And today, I'm even more committed that I'm thinking, you know, triple
digits over it.
You know, I was always thinking on the load and that, you know,
triple-digit silver, but now I'm thinking it's possible to even get,
you know, into the higher end of that range.
Well, you can argue that everything is manipulated interest rates and
look at the
Moments, you know what, the largest trading room on the planet is
apparently the federal reserve's trading room.
They so they, you know, manage prices, whether it's oil prices,
whether it's the price of whatever stock market, SP the Dow Jones, and
that's what governments to.
I don't know why governments think they have the right to do it.
I think government should be right out of the market government.
Should not be involved in pricing of anything government should be
served servicing.
The needs of the people, and not the needs of the central banks, or
the banks themselves.
The regulatory system was put in place to protect the retail investor,
not to protect the banks and we now have the government's it will back
by the Federal Reserve protecting the big players in the system as
they say, you can't fight the FED.
I know.
Well, you know, I keep trying every day of it.
It's a bit of a losing battle, but I think one day the physical Market
will prevail and you know, I sooner that happens, the better.