The Deep Dive, Released on 12/31/24

In this interview with Keith Neumeyer, President & CEO of First Majestic Silver Corp., we discuss silver’s performance in 2024, which saw prices range from $23 to nearly $35. Keith shares insights on the current global silver supply-demand dynamics, noting significant deficits and discussing how only 1.2 billion ounces remain in inventories, with most allocated to ETFs. He explains how industrial demand, particularly from automotive and solar sectors, now consumes 40% of annual silver supply. The conversation also covers the recent M&A activity in the silver sector, including First Majestic’s acquisition of Gatos Silver, and what investors can expect from the company in 2025, including potential production growth and exploration news from Santa Elena and San Dimas mines.

00:00 Introduction
00:59 Silver Performance 2024
01:58 Silver Supply Shock!
06:28 Silver M&A & The Junior Solution
09:02 What Will Light Up The Market?
13:11 Mines don’t last forever
15:59 Taking Silver Off The Paper Market [First Mint}
19:31 When Big Tech Comes For Silver
20:19 Will Tariffs Hit Raw Materials?
21:35 First Majestic: A Different Company in 2025

Keith Neumeyer is the president and CEO of First Majestic Silver, one of the largest primary silver mining companies in the world. He’s also the founder and chairman of First Mining Finance. Both companies are traded on the Canadian and U.S. stock exchanges.

  AI, big tech, first majestic, Keith Neumeyer, silver, silver mining, silver shortage, silver squeeze