So Keith, do you think that the current pricing system for the metals
is broken?
I do and there's no substitute for silver.
Yeah, it is pretty shocking.
I've been in the mining sector not for 35 years and I'm a big
proponent of the mining sector.
I'm sure we can.
The mining sector can be a better but I think any sector can get
better, you know, with Innovation and technology.
Technology is improving businesses throughout the world.
Regardless of the industry that the
Happened to be in in mining.
Yeah, we're probably behind on some things, you know, the mining
sector tends to move very slowly.
But you know, that's just because the investment cycle, it takes 20
years to get a mine up and running.
So you pick a certain ology to produce a certain metal, you're going
to build an infrastructure and plant design for that particular thing
and it's going to be producing for 30, 40, 50 years, and takes a long
time to get paid back at takes big Investments to build.
Build these operations infrastructure water, you know, electrical
mining companies, have to do the whole thing.
You have to build communities in a lot of cases.
So so, you know, you don't and these are long-term jobs as well.
And then these jobs pay for kids schooling, University education.
When you have a business there, that's generating as much as a mind
does for 50 years.
That's a couple of generations or at least a generation and a half.
So that's really the driving economy of
Down and these high-tech companies, do they don't see that and they
look at you know, what made the mining sector some evil, you know
company but yet we're polluting, you know, polluting the planet or
something like that, which is yeah.
Yes, that type of thing goes on but not from the big companies like
the first Majestic, you know, or you know, or the be able to, you
know, this smaller local artisanal miners, you know, those are the
ones are actually creating all that, all the Havoc, all the pollution,
you know, they're using back techniques and and they don't.
Care what goes into the rivers, and things like that, and we'll always
battling against, you know, those types of artisanal miners, because
you only bring proper technology.
Proper techniques to the business, but I'm not sure what presentation
you were referring to, but there was a presentation.
I did and Germany, where I pointed out, you know, the top 5 high tech
companies.
I think they have.
I think, my slides, that have the market cap of something like, five
trillion dollars in that range and and then the top
50 mining companies had a market cap of 500 billion dollars.
I believe it was.
And and, and these, these five high tech companies wouldn't exist
without me.
50 mining companies a rock is made up of many, many metals and as
you've heard the phrase sulphide ores, you know, normally speaking not
all sulfide ores, but normally speaking solved by his come with all
kinds of ugly materials like arsenic as I mentioned and
Lead and zinc and you know, stuff that you don't want stuff, that
doesn't pay, it actually cost you money.
And then the smelters actually penalize, you if that rock, you know,
contains too much of certain elements and I can get quite expensive
but to get rid of some of this material, you you're hoping you're
going to get paid on the silver and gold or the copper because that's
all the money is.
And then penalties that you might be getting are our lesson.
What the value of good metals are that you want, but it's, you know,
It is a challenge and I'm not sure if I answered your question, but,
you know, Dory bar and I just was down in Jerry Canyon.
One of our minds in Nevada and I just had some pictures taken with
some beautiful gold Dory bars and they would they weigh 80 pounds each
and I was barely able to pick one up but by the way, and it's followed
virtually a solid block of gold inside and some silver.
So it's really, you know, you're in the mid-90s, you know, range.
And then those pollutants are generally just like that or copper just
miscellaneous kinds of metals that will be in there and then you ship
it to Johnson Matthey or you know, Asahi or you know, different
Refinery, they're all over the place and they just put it through a
chemical bath, a chemical process and through electrowinning that they
pull out all the stuff that they want, and they, and they create, you
know, commercial bars.
And that's what's holding industry.
Well, we have now liquid episode.
Okay.
Yeah, so so, you know, if it's not our business to, you know, hold or
Warehouse metal and, you know, our, our shareholders want to see a top
line and the bottom line, and, you know, that was 35 million dollars
worth of silver, that didn't hit our Revenue line and, you know, it's,
you know, the institutions, you know, in my view they don't
particularly like, right.
They because they they, they want to see real revenue and we will
profits and
So we do it periodically, but you know, you we had silver gold women
from $18, to thirty dollars in a matter of a couple of months and then
they dropped all the way down to the low 20s.
And then you know, I just figured with is this time.
It was just so anomalous to me and I just thought a balance is going
to occur and you know, the old my old trading blood in me because you
know, that's where I come from, you know, and I just thought it was a
good trade and not turned out.
Yeah, we made a couple.
Extra dollars on on the Don, those Alphas, if you look at go back 15
years and maybe even longer than that, but and I consider the number.
I watch to see if I'm successful or not.
Is, are we beating the average comex for the quarter?
So, and I watched those sales, so our gold and soul silver sales.
I'm not because we report what are, you know, selling price average
selling price for that quarter was I always look at the comex I go.
Okay.
How good was I this quarter?
And I usually, I'm not, I think they beat me maybe only a couple of
times.
Well, that's the problem, right?
Because there is no substitute.
You know, we, we have we had line on our website clearly stating
there's no substitute for silver, you know, you know Du Pont, you
know, who's the largest silver?
Paste, a manufacturer for solar panels.
They've been trying to reduce the amount of silver that using this
paste, you know, for you know, for economic purposes.
The word that I've heard from from experts in the areas, they pretty
well or have already reached the limit.
They, you know, they just can't reduce more silver or they just start
losing efficiencies.
So, you know, that's exactly true or not.
I don't know scientists, but that's the of the information.
I've been able to gather.
I saw an article out of London England, just about two weeks ago,
suggesting that he 2022.
There's going to be a
140 million ounces of silver consumed in the solar panel industry,
which is a pretty big number because the number for 2021, we don't
know what it is yet.
It's not public, but it's somewhere around 100 million ounces or so
whether it's a 30, 40 percent increase year-over-year.
That's a pretty darn big number.
And in the minors, only producing 800 million ounces in one year.
So you got one buyer for you know, almost do a close to 20%.
Retire entire Supply and then you've got, you know, the electric car
industry and I haven't seen the 2020 production numbers yet.
I don't know.
I'm sure why they're not out.
I've look at looked for them but haven't been able to find them yet.
But the 2019 numbers, there was 95 million cars built worldwide, and
there's less than 20/20, of course of covid.
And so on so forth, but 1999, 2019 and of those 95 million cars.
Built in 2019, 5 million of them were.
Electric vehicles and we consume 60 million ounces of silver to to
produce those 5 million electric cars.
So, you know, if governments want to reduce the the or increase the
electric vehicle Fleet on the planet and they're not going to do it at
5 million cars a year.
They hope their they're going to have to do it at 10 or 20 or 30 or 40
or 50 million cars a year.
And how are we, how are we gonna get there?
You know, I don't even think the manufacturing like
Volkswagens Audi's BMWs.
Mercedes Tesla's that, you know, there are just wrapping up now.
So it's going to take them a couple years to get even get close to
those kinds of numbers.
And and if you know 5 million ounces or / me 5 million electric cars
equals 60 million ounces, you do the math, you know, that's a lot of
silver and a pretty small market.
So Keith.
Do you think that the current pricing system for the metals is broken?
I do.
And you know, I depend I supposed to because the
What side of the equation you're on it?
But if you're part of the system part of the bank's.
Yeah, I think they loved it.
But if you're a minor who you who feels that, we're not getting Fair
dollar for our metal that, you know, his Blood, Sweat, and Tears to
pull out of the ground and process and get into industry and such a
critical strategic, metal improving the silver.
You know, it's, it's shocking that you know, what?
We paid for such a critical.
And, you know, I've said a dozen times and then I don't get a lot of
traction, unfortunately, because I'm a field somewhere alone.
Often minors, really need to, you know, get together and create a new
system.
And you know, why, why it is, you know, we look at how uranium trades,
you know, it's a by contract and then there's no Futures market.
So and and you know, all I think all trades more
Fairly, then there's so many big players in it.
It's more supply-demand fundamentally driven, but even it's
politically driven to a point.
But yeah, I just think we need to get rid of the comex.
I think the comex is root of the problem.
The only you can, you know, write a billion ounces of silver and
single day.
When the miners are only producing 800 million ounces of silver.
A full year.
You know that shows you there's problem.