Silver prices hitting $100 ounce 'wouldn't be a surprise' - Vizsla Silver's Craig Parry скачать в хорошем качестве

Silver prices hitting $100 ounce 'wouldn't be a surprise' - Vizsla Silver's Craig Parry

The silver market is 15-20% under-supplied, and there is a strong possibility of interest rate cuts and a lower dollar pushing precious metals prices higher within a year, said Craig Parry, founder and chair of Vizsla Silver (TSXV:VZLA). Parry spoke to Kitco mid-November at the 2023 Precious Metals Summit Zurich event. "We saw this precedent in 2008, 2009 where the dollar came off during the GFC [Global Financial Crisis] and metal prices performed extraordinarily well," Parry said. "We've got the same setup coming here, I think. I wouldn't be surprised if we see $3,000 per ounce gold by the back end of next year, but silver of course, in those markets always outperforms [gold]….so I think we're going to have an extraordinary silver market. I wouldn't be surprised if we see $100 silver in the next 18 months." While there has been some pickup in copper production leading to by-product silver supply entering the market, he said the challenge on the supply side is not enough exploration work has been done over the past 10 years. "That's led into a lack of permitting and a lack of development so there's not much out there to come on stream." One project that could make a difference is Vizsla Silver's Panuco silver-gold property in Sinaloa state, Mexico. The project hosts an indicated mineral resource of 104.8 million ounces silver-equivalent and 114.1 Moz AgEq inferred. The company has raised about $65 million over the past year and still has over $30 million in the treasury. It is conserving cash by halving the number of drill rigs on site. The six remaining rigs are drilling to provide a resource update due out in the first quarter of next year. Parry said Vizsla Silver is comparable to MAG Silver, whose Juanicipio project in next-door Zacatecas state is owned 44% by MAG Silver and 56% by Fresnillo. However, MAG Silver's market capitalization is five times greater than Vizsla Silver's $300 million. Parry said Mexico mining veterans have commented that the land package owned by Vizsla could be the world's 10th billion-ounce silver district (five are in Mexico), and he noted the resource base is based on only 15% of the known veins, "a tiny fraction of the property." "Watch this space. I've never been more confident of something in my life that this is a true district," he said. Special coverage of the 2023 Precious Metals Summit Zurich is brought to you by Vizsla Copper Corp. (TSXV:VCU). 0:00 - Silver prices have been moving sideways 2:10 - Why can't silver break out? 3:35 - Secondary supplies dampening silver market? 6:26 - Incentive prices for new silver supplies 7:20 - Is Vizsla funded? 9:00 - Milestones at Vizsla over the next 12 months __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us Twitter -   / kitcomining   Instagram -   / kitcomining   LinkedIn -   / kitco-mining   Facebook -   / kitcomining   Connect with the Kitco Mining anchors Michael McCrae -   / michaelmccrae   Paul Harris -   / paulharrisgold   For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.