Palisades Gold Radio: The Pricing System for Gold and Silver is Broken (w/ Keith Neumeyer)


Palisades Gold Radio
Dec 9, 2021

Tom welcomes back Keith Neumeyer, President & CEO of First Majestic Silver Corp. Keith explains why the world needs enormous amounts of metals for electrification and carbon objectives. He says, “We will never be fully off oil and gas but we can reduce it given time.” He is a fan of hydrogen and nuclear solutions for energy.

The mining industry continues to be held back and demonized. Mining methods are gradually improving. It takes time however to implement and build solutions in a capital-starved market. The creation of new mines takes years and sometimes decades. Tech companies are too focused on the short-term and don’t understand the complexity of resource development. The top five high tech companies have a market cap of five trillion. While the top fifty mining companies are worth a fraction of that industry.

There are no real substitutes for silver. Companies like Dupont have tried with limited success. By 2022 the world will need 140 million ounces of silver just for solar panels. This is a 30-40 percent YOY increase.

Keith discusses silver recycling and why supplies of similar seem limited. It will require considerably higher prices to recover silver and bring these metals to refiners and recyclers. The recycling business is quite difficult and metals are hard to recover from e-waste.

He is concerned about the pricing structures around metal and believes the Comex needs to go away. First Majestic’s approach is to sell bars directly to industry and thus often bypass the futures market.

The mining sector has been undereducated for some time and Latin America is now filling in the gap for talent in engineering and mining.

The mining sector is having a harder time as the population moves to greener and increasingly socialist mindsets. The mining sector will have to be more aggressive if humanity is going to achieve its objectives.


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