Silver is hovering near $37/oz, its highest level in over a decade – but mining equities still lag. In this Kitco News interview from the Rule Symposium in Boca Raton, Florida, First Majestic Silver CEO Keith Neumeyer explains why silver miners haven’t caught up to the metal’s breakout, what’s driving the supply crunch, and how M&A and investor positioning are reshaping the sector.
Neumeyer says institutional interest is surging, retail margins are at record highs, and the company’s balance sheet is the strongest in its 22-year history. But he warns the industry needs “triple-digit silver” to bring new low-grade projects online – and says the market is still early in a new bull cycle.
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Key Topics:
-Why silver miners are still lagging the metal
-The real supply crisis: no new major discoveries
-First Majestic’s mint margins and balance sheet strength
-What’s needed for M&A: “chunky, permitted” assets
-Silver vs. gold: what hits $40 or $3,600 first?
-The case for Mexico as the top jurisdiction
Follow Kitco News on Twitter: @KitcoNewsNOW (
Follow Keith Neumeyer on Twitter: @keith_neumeyer (
Follow First Majestic Silver on Twitter: @FMSilverCorp (
00:00 Introduction to the Rule Symposium
01:04 Silver Price Dynamics and Market Sentiment
02:06 Challenges in the Mining Sector
05:03 First Majestic’s Minting Operations
06:37 Operational Costs and Inflation
08:09 Mergers and Acquisitions in the Silver Industry
13:07 Geopolitical and Permitting Risks
14:22 Future Outlook
#Silver #MiningStocks #KeithNeumeyer #FirstMajestic #Gold #MergersAndAcquisitions #RickRule #KitcoNews
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The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
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39 Comments
Keith Neumeyer says $40 silver is coming fast – and that First Majestic’s balance sheet has never been stronger. Do you agree silver is still undervalued, or has the run already started?
Let us know your price target for 2025
Lots of siver in Canada.
go mine it yourself . . .
keith neumeier in 2011 supply crunch and why miners still lag ,not all keith only the shitty one lag like first double share in 5 years
But Jim Cramer says he is not familiar with 1st Majestic so there you go Found that quote on Yahoo Finance, Tuesday the 15th of July
Nevada is the silver state..
$40? $400, duh. When the levee breaks…/
Compared to the price of silver, mining stocks like AG are still trading at a relatively low level. I’ve held through the tough times (like many who bought in the $20 range), but with the current gap between silver prices and mining costs, AG should be generating solid free cash flow. It’s hard to say when the market will fully reflect that, but sooner or later, it will. Until then, stay calm and hold — the company is doing quite well.
$46 in 2025, $60-67 in 2026, $75-90 in 2027
You're talking to fast, Jeremy is the worst, us old timers can't keep up.
4500 gold and from 40 to 70 silver should heat these silver stocks up in the next 18 months … its go time
Ive been stacking silver and gold since 2016…nice to see the price going up.
wake me up when it is 150 usd
Keith is the greatest….END THE FED. Gold IS money. Silver too…Sorry Keith, Silver IS money.
I have been hearing such news for 50 years. PM pumpers always have news. Miners never move because metals always disappoint.
Why aren't you buying black rock silver . Your a inventor already. Just down the road from your mint
where did he made his Hair transplantation ?! It looks great !
when did he get his hairline corrected? I guess I am not paying attention enough anymore
Keith is a great CEO, very matter of fact, and a smart guy. AG is my largest holding
Get a hold on this bots it’s crazy this comment section
Best thing for everyone to do is buy the metal, never the miners. A miner will only diluate on you. The miners also help keep the price of silver low by selling silver as a by-product metal.
10 ounce bar for 416.77 is no deal better places to buy
Just swapped all of my last ETH and swapped it into XA58P. Already up a little bit. Unfortunately I have some other junk staked which won’t free up for a while. Still now I am on the train!
Sold all my xrp yesterday and bought XA58P
$XA58P IS PUMPING…NEARLY $2
You called it a month ago and now $XA58P is blowing up glad I listened
SOLANA DOWN, XA58P UP 🏆
I see XA58P moving right along side all the Alt's you mentioned! Plus I see all the Alt's plus XA58P moving in lock step in the charts! My point is XA58P is cheap! Retail likes buying cheap! Especially when that cheap item is on the verge of becoming expensive
bläääh rookie boys crime infested mind like all others in the mining business
Keith pays himself $3 MILLION per annum … CEO of Sandstorm pays himself $600K and sandstorm runs rings around First majestic. WTH Keith ???!!!!
Someday my prince will come, too!
Am I buying silver? NO! You don't buy assets at a high. Silver is sitting at an almost 14 year high. A 14 year high in silver only happens a couple times in your lifetime. I sold half my silver last week.
Keith is looking slick!
Every interview with FM never asks about Jerritt Canyon.
Please, please, please someone ask a few glaringly obvious questions re: Jerritt Canyon.. always the same old “soft” pitches! An HONEST update WOULD be very much appreciated. I am a First Majestic shareholder and trust Keith so maybe there are reasons why it’s not appropriate to update us.. ie if they are in negotiations to SELL OFF JC.
First Majestic has been a nightmare! I liquidated all my shares three years ago and bought PAAS and it was probably the best exchange I ever made!!..
Lovely seeing you last night. May Allah preserve you. Take care
Great show boys!
Bahahaha…… bahaha….