While gold hogged the spotlight through most of the year, silver stole the show at the end. According to Metals Focus, several factors converged to drive the rally.
Silver is currently only about 58% higher than its 1980 peak. A major bull market does not generally end as close as 58% higher than its previous major bull market did.
A significant shortage of sulfuric acid, or even spiking prices, could impact copper output. About 70 percent of the annual silver mining supply is a byproduct of copper production.
Including all theirs, the derivatives/paper held in the precious metals...mostly on the short side...is an eye-watering 2+ Trillion dollar number which can never be covered, either in the paper market, or through the delivery of physical metal...without driving the prices of all four precious metals beyond the moon in the process.
Silver could be on the cusp of breaking resistance at $62, but we need to get over $107.50 to suggest new highs. The TGD over 1,000 looks better and over $1,050 suggests new highs ahead.
I maintain my belief that not only will a longer-term resolution to the war be more difficult to attain, but also that even if the war ended tomorrow, there’s still economic damage that’s been done, that I don’t feel has been priced in yet.
CEO Jason Weber noted that completion of the survey will refine 2026 drill targets, clarify fault structures hosting veins, and potentially reveal cross structures with significant silver mineralization potential.
Director Brown: "Our focus is firmly on advancing the Haldane high-grade silver project in the Keno Hill district of Yukon Territory, building on the transformative progress we achieved."
Silver was initially sharply lower again this past week reaching a low of 60.97, although after that low was made, we moved sharply higher reaching a high 74.65, closing higher at 69.78!
The report concludes that Stampede Gap represents a compelling exploration opportunity, supported by favorable geology, historical results, and multiple mineralization styles.
CEO Shearcroft: "Together with the upcoming geophysical program, this work is expected to identify high-quality drill targets to be tested later this year."
