GFMS Reuters Confirms Enormous Silver Opportunity

16th April 2018

We have attached a market report we put out at the beginning of the week based of the new GFMS Reuters yearly data on behalf of the Silver Institute.

The highlights of which are…..Global mine production in 2017 shrunk again YoY by -2% from 2016 levels, while global industrial demand grew by + 4 %, and even with the huge fall in investment demand in 2017 for silver the actual net balance in supply / demand was again a deficit (- 35 Moz), yet again another year on year net deficit is reported. 

Consider that last year First Majestic Silver CEO Keith Neumeyer stated:

“The cost of maintaining existing silver projects comes out to about $13 to 15 per ounce. In other words, to keep getting silver out of the ground from projects that are already up and running, it costs $13 to 15 per ounce.

So, with the price of silver currently around $16, the margins are already so small that should the banks attempt to manipulate the price lower, some mining projects will no longer be economically feasible and are at risk of being shut down. Of course if that happens, that means less supply, which only adds to the positive factors supporting an eventually higher silver price.”

Keith also mentioned in his interview that “the cost of exploring and developing new mines are closer to $20. Which means that right now, projects which would be worthwhile with higher silver prices are not being explored. Again, translating into less supply than there otherwise would be."

Reliable market research and data based of balance sheet data of the primary silver producing companies only supports this remarkable situation and opportunity.

Enjoy our latest updated report…

CLICK HERE to download report 

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