Kitco ranks the silver miners by Q2 2023 silver output

[pmbug]

https*//www.kitco.com/news/2023-09-29/The-world-s-largest-silver-producers-in-Q2-2023-report.html (dead link)

Looks like most of them had less output than the same quarter last year (except for Newmont, Glenncore and Boliden).

 

[Voodoo]

You read that backwards, those three were the ones down. Anyone know how PAAS increased silver? Did they open a new mine? That might be one that I need to look at accumulating here.

 

[nickndfl]

They should offer free tours and have a gift shop to sell direct! J/k

 

[pmbug]

You read that backwards, those three were the ones down. ...

Oops!

 

[Voodoo]

Oh, I looked up PAAS and the big increase was not a new mine. They incorporated the acquisition of Yamana.

 

[nickndfl]

The article disappeared. I imagine First Majestic was on the list?

 

[pmbug]

Kitco changed the structure of their site after it went down a while back. Old links no longer work properly.

 

[Voodoo]

I know that Clive Thompson just recently did a similar thing. But it was hard to read... Ya he goes through it real fast but its at 18:35. I'll remake just the production results.

Company	Ticker	2027 M-Oz Silver
Fresnillo PLC		48
First Majestic		31.2
Pan American		20.4
Couer Mining		18
Hecla		17
Minas Buenaventura		16.1
MAG Silver		15.7
Adriatic Metals		14
SSR Mining		8.5
Hochschild		7.6
Silvercorp Metals		7.6
Santa Cruz Silver		6.026
Aya Gold & Silver		5.2
Andean Precious		5
Endeavour Silver		4.85
Americas		2.8
Avino Silver & Gold		2.65
Silver X Mining		1.1
Fortuna Mining		0.95
Kingsgate Consol		0.65
Guanaunto Silver		0.643
GoGold Resources		0.411
		234.38

 

[Voodoo]

I didn't know much about MAG Silver so did a little research. Just as an example of how few silver mines really are left. All of their Silver comes from a 44% interest in one mine that's actually operated by Fresnillo. So that's one big mine that's a decent chunk of the list.

 

[nickndfl]

It also means that miners cannot easily increase Ag production to meet demand.

 

[Voodoo]

Well exactly AND Silver is mostly an Inelastic demand for industry. It makes the price environment Absolutely Bonkers with potential.

It will take decades to find a balance again.

 

[nickndfl]

I like the ETFs because you give up single company risk and still retain lots of the potential gains. I like the Ag miner sector here. Gold miners have moved, but the silver miners are a few month behind.

I hope to get an early start as they begin to move just like I was buying gold miner ETFs in November 2024. The market cap on silver miners is very small and it won't take a lot to move the sector. The downsides are companies that sell FPOs & SEOs that dilute existing shareholders. Then there is the risk of blank holes and sometimes outright fraud where core samples are misrepresented.

Good luck.

 

[Voodoo]

Those are much more likely in bubbles. There is an AWFUL lot of fraud in ETF's too. Infinite shares and lending and all kinds of shenanigans.

 

[nickndfl]

SLVR
SILJ
GDXU