Want to ride the technology wave because I'm a huge believer in
technology in the advances that technology and the benefits technology
brings to the human race.
And I and I just thought Silver was a really good way to play the
technology race and
Quickly, obviously, you know, the world is in quite a unusual.
I don't actually remember, you know so much, you know issues going
around the world.
The only the world seemed to be so unstable right now and it's just,
you know, you look at Latin America, United States Canada, now Eastern
Europe, the sure they're Asia.
There's masses all over the place.
No wonder why the central bank's of inviting someone to Old over the
last year or two.
Obviously, they know there's something up and you know, this big reset
or whatever is planned by these super Elite.
Maybe this whole Russian invasion was part of the plan, you know, who
knows?
They seem to be leaving Putin alone despite the threats that they
were, you know, suggesting prior to this Invasion.
Now that he's invaded, they're all back.
Taking off and saying, okay.
Well, let's give it a month and see what happens.
And so it's pretty strange.
You just kind of wonder whether this is all just part of the whole
game that all these politicians are playing once a huge concern and
you know, it's a Canadian government came out and said the same thing
today.
Prepare you to message to the corporations within Canada, you know
prepare yourself for Cyber attack from Russia, you know, whether this
is a false flag, who knows, but I read
Something just about a month ago that yo once his whole covid thing
kind of goes sideways and then and ends finally and we can get back to
some normality in their lives that they, you know, there's this some
plan that they're going to shut down.
The government are going to shut down the worldwide grid for two or
three days, blaming it on sunspots.
And basically, you know, turn all the electricity off, you know, God,
you know, hopefully that doesn't happen, but, you know, there's some
Riyadh things going on around the world right now and my daughter just
ask one of my daughters asked me yesterday.
Is her money safe in the bank accounts in her bank.
And, you know, I can't answer that question.
I know, I don't know.
I I'm trying to be optimistic and I am an optimist and you know,
parents, you know, I'm able to build companies and so on going to feel
them because I'm, you know, I think I'm adding value and think I'm,
you know, bringing something to the human race.
And I look at, you know, why our staff has created.
You know, what?
Most respected silver companies on the planet.
And, you know, from scratch 19 years in and you just kind of Wonder,
you know, what's really going on out there, you're going to see these
kinds of things, and it creates a huge amount of concern for me.
And, you know, the direction that we're going is a human race is, is
not particularly pleasing, you know, is very much along the same lines
is, you know, this whole Cyber attack and, you know, sunspots, whether
it's sunspots, whether it's the Russians, or the Chinese, or maybe
it's the Americans doing it themselves, who knows?
But you know,
That's one of the reasons why I'm not a big fan of Bitcoin and you
know, because you know, you lose our electricity, you lose the
internet, your bitcoins worth nothing and at least we know gold and
silver physical model, you know, that's where it's at.
And I continually tell people, you know, they have to have some of
their money, some of their Network and physical metal, whether it's
silver, gold or silver is in small quantities.
It's easier to carry around, you know, God forbid if we actually need
to use it to go buy something.
But you know,
Does get that bad which you know, you kind of Wonder, you know you who
would have predicted what you know, the last two years, you know, ten
years ago.
You would have never predicted that you know, would you ever predicted
the Canadian government did?
What they did?
It was is this a is this going to repeat itself and other countries
around the world you'll Canada's and generally be the leader.
You don't your Canada is normally a follower and usually United States
is the leader for Canada to something.
That they've done, like they've done in the last couple of weeks.
I'm not sure what that means for our future, but I can't see it being
very good.
Yeah, I put in put together, you know, one of the largest copper
companies, you know, in the early 90s 92 93 and I left that company in
2000 and I dabbled around in the internet market and watch it watch
crass crash, you know, NASA, you know, drop 80% or a period of three
years from 2000 to 2003, which really lit up.
The resource sector and that was, when gold was, you know, bottoming
out in 2001-2002 at 250 dollars an ounce and silver was down in five
bucks an ounce.
And, you know, I wanted to get back into the mining sector and then I
looked around and I thought about putting a gold coming together, but
there was just so many gold companies around and and and and you know,
I'm a big believer in Gold.
I think everyone should have gold.
But, you know, coming from a copper company.
I'm really a supply-demand fundamentalist and when I started looking
I just was blown away by the supply-demand story and you know, we
didn't have eby's back then we didn't have solar panels back then, you
know for the most part anyways is but I looked at cell phones.
I dug cell phones was really the place.
You know, I remember in the first cell phone for Motorola came out.
That's how old I am.
So yeah, I remember black and white TVs.
Yeah, you know colored color televisions fax machine 0 eyewitness, all
this stuff coming in to
And you know, this technology, I wanted ride the technology wave
because I'm a huge believer in technology in the advances that
technology and the benefits technology brings to the human race.
And I and I just thought Silver was a really good way to play the
technology race and and since then we've seen now to Big markets EV
Market, which is taking up over 10% of world Supply.
Approaching actually, likely twenty percent this year, maybe next
year, but you know, we're producing as an industry.
800 million ounces of silver a year in 2019, which is the last numbers
I saw.
Because there wasn't any official numbers that came out in 2020.
As far as I know, but we've consumed 65 million ounces of silver in
2019.
Spread over six million electric cars.
So you do the math and I don't know what the 2021 numbers are dying to
see them.
The I saw an article about of analysts in London about a month ago,
and he's predicting that the solar panel industry is going to consume
140 million ounces of silver in 2022.
We I don't know what the electric industry.
Electric car industry is going to consume but you've got two brand new
buyers of silver that are now consuming almost 30% the world supply of
silver.
And these buyers didn't exist a decade ago for sure, you know, at some
point, you know, it'll break right, you know.
If you're talking about the 95 million cars, and I mentioned earlier
about, you know, six million cars, consume 65 million ounces of silver
in 2019.
So, you know, I, I could easily do the math, but, you know, some
people can do it themselves, but, you know, that turned that works out
to a an awful lot of silver more, and more than we're producing
probably and, you know, where does that break at some point?
The manipulators?
Who bang the heck out of the metal yesterday?
One of the most amazing days I've ever seen, you know, where we had a
hundred dollar move and gold up and down and silver, you know, went
through 25 50 and then broke through 24.
And today. It's actually a game below 24.
Just, you know, that doesn't happen in a natural market.
So, you know, these people that are playing this game, have no clue
about really the fundamentals of the physical demands of the market.
These are guys that high Towers on Bay Street, just trading numbers on
a computer screen.
And and these markets tend to be quite a liquid.
They're easy to move around, you know, the entire silver market, you
know, is you do the math, 850 million ounces of produced a year times,
you know, 25 bucks or 24 bucks the oh that's just, you know, Apple
could buy the entire solar industry probably with with, you know,
pocket change, but you know, they but yet we trade a billion ounces
today in the paper markets and we only produce 850 million ounces a
year, right?
Only now six year.
You know, that's, you know, a lot of Leverage in a market and they are
the paper Market, you has control over pricing which is itself.
You know, it shouldn't be you know it, you know, the miners industry
should be involved in pricing, you know, based on Troost, obliged
supply-demand fundamentals, you know, we see that in the uranium
Market.
We see it in the oil Market, you know, these markets are, you know,
are you know, much more legitimate markets?
Than the precious metals markets.
We need hundred dollars overpriced because you know, the miners need
the incentive to make the investment and you you know, the numbers
that you know, when during the locks down lockdowns I do was doing
research as well.
And there's about 95 million automobiles produced.
Every year 2020 was obviously a low number, but on average, over the
last decade, that's approximately how many cars get produced each year
and there was only 6 million cars, six million of the
Five million for electric cars.
Yeah, so so, you know, it governments want to replace fuel combustion
cars by 2030 or 2040.
That's a big change.
And you, you know, you now ciot and Volkswagen and, and, you know, BMW
and, you know, and of course, the US manufacturers as well, we're
seeing more and more automobile companies producing electric cars.
So, that's six, millions.
Probably a much bigger number because that's a bit of an old number,
but nevertheless that's a ton of silver.
And that, you know, if you know, it's about a kilo of silver per
electric car.
You'll never get that number out of the Auto industry, because they
won't tell you, they're paranoid about telling you, because they don't
want anyone to know what, what, what, how much metal they're consuming
but, you know, the to get a silver mined producing, it's a minimum of
10 years.
So, and that's it.
Everything goes really smoothly.
So, you drill a hole and you've discover economic silver.
Going to drill it out over a period of four to five years to make sure
there's enough silver there.
At the same time.
You'll be doing permitting talking with the government's, you're
trying to, you know, get this thing done.
And you got to finance the darn thing and then you're going to
construct it and constructing, depending on the size, is going to take
anywhere between three to five years.
So, from from first discovery, it's a minimum of 10 years in the in
the case where montaigne, which is personage Essex, latest at
producing - just came
On stream in November, that was six years from Discovery, but we had a
mill already built.
There's a because it's only four kilometers away from our Mill.
So that was the old.
Thank goodness.
We had that Mill there when we made that Discovery, but if we didn't
have the mill, we have now been construction and it being not a couple
years. So 8 to 10 years, but a lot of minds and that's Mexico.
Mexico tends to be a bit of an easier jurisdiction Levites in Canada
or United States.
You're talking 15, 20 years.
Sometimes if you're in Alaska, forget it, you'll probably never get a
perfect.
So you could find a great asset great or body and Alaska and you know,
50 years from now.
If you're lucky, you might get a permit.
So it's the miners won't spend the money to supply the industry with
the amount of copper and silver.
The industry's need to follow the green.
New Deal is impossible.