The gold and silver rallies on Friday followed a pattern we’ve seen over the last couple of years.
If the silver inventories in question are being double-counted, as now appears obvious as a result of this response, that amounts to the sending of false price signals.
Industrial demand for silver is expected to lead the growth in global demand, driven in part by the growth of the green energy sector.
The current silver price is less than half its 1980 peak price in nominal terms alone ($22.80 currently vs. $48.50 1980).
Morgan says, "It's inevitable at some point, and I don't know if it's this year, where the availability of silver becomes harder to get and the industry starts to worry."
Positions as of 27 February, 2024
The accuracy of publicly available silver inventory statistics is questionable. Should the deficit between output and consumption persist, it is hard to see how the silver price won’t climb.
Silver remains 54% under its all-time high. Gold gained 1.3% this past week, but silver gave back following its strong up week last week, losing 2.1%.
Positions as of 20 February, 2024
A move above $30 per ounce would represent a massive technical breakout. The metal hasn’t been able to climb above $30 since prices broke down in 2013.
The net proceeds will be used for the exploration and development of the Santa Ana Project, working capital and general corporate purposes.
Silvercorp announced its off-market takeover bid for all of the ordinary shares in OreCorp that it does not already own will close on March 22, 2024...
In 2023, the Carangas Project announced its maiden resource estimate of 670 Million Silver Equivalent Ounces, indicated + inferred.
What Does a World-Class Discovery Look Like?
The company sold approximately 1,342 ounces of gold, 1.7 million ounces of silver, 16.2 million pounds of lead, and 7.3 million pounds of zinc, for revenue of $58.5 million.
The interview, conducted by Coreena Robertson on The Watchlist, featured Lon Shaver, President of Silvercorp Metals, discussing the differences between Silvercorp's offer for OreCorp and Perseus's hostile bid.