Peter Krauth & CEO of Kingsmen Resources Reveal Why NOW is the best timing for Junior Silver Stocks
Summary
Silver Market Dynamics: The silver market is experiencing a significant shortfall, with annual consumption exceeding production by 200 million ounces, creating a bullish outlook for silver prices and mining stocks.
Investment in Junior Explorers: Attention is shifting towards junior silver explorers like Kingsmen Resources, which are acquiring grounds with past-producing mines, indicating potential growth and interest from investors.
Silver Price Performance: Silver has nearly doubled in price over the past year and a half, yet remains 30% below its all-time high, suggesting it is still undervalued compared to other commodities.
Technological Demand: The growing demand for silver in solar panels and data centers, driven by new technologies and increased installations, underscores silver's indispensable role in modern applications.
Mergers and Acquisitions: A wave of M&A activity is occurring in the silver mining sector, particularly in Mexico, with major companies acquiring high-quality silver mines, enhancing their resilience and access to capital.
Financing and Growth: Mid-tier and junior mining companies are experiencing easier access to capital, with oversubscribed financings, indicating strong investor interest and potential for growth in the sector.
Long-term Bull Market: The current precious metals bull market is expected to continue, with silver potentially outpacing gold, offering significant upside potential for investors in the space.
Exploration and Value Creation: The exploration efforts, particularly drilling, are crucial for junior miners like Kingsmen Resources to drive value and attract interest from larger mining companies and investors.
Transcript
I think for big picture uh viewers and listeners have to just realize that the the silver market is a billion ounces a year and yet we're consuming close to 1.2 billion ounces a year. So there's this huge shortfall and and we're unable to ramp up uh mine supply. So that's just just like the perfect storm for higher silver and higher silver mining um stock prices. So get get in on it. Get on it. In on it. Now >> you're seeing the attention now being focused on these small junior explorers of which Kingsman is. You know, we acquired ground that uh had pass producing mines on it cuz our adage is the best place to find a mine is where there was one. But I say that because I think we've got a lot of eyes on us saying, "Hey, when are your drill results? You know, what have you been doing?" And uh I can you know say that we've just completed a 3100 meter dual program program thereabouts. And just for your listeners Cali to put that into perspective when you think about 3100 m in Canada you think of 3 kilometers of core in and for US listeners that's 2 miles of core. For disclosure purposes, our site does not make recommendations for purchases or sale of stocks, services, or products. Nothing on our site or this podcast should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This podcast is for entertainment purposes only. Scott Peter, it's great to have you both on the show. Um, for listeners that have maybe not paid attention to my show, Scott Emerson is the CEO of Kingsman Resources and Peter Crow I feel needs no introduction. If you don't know him, then you're probably in the wrong space for commodities. Um, so Peter, I'd love to just start the conversation off with you of just the general landscape of silver right now. >> Silver's been doing very well. Um the last year and a half we were uh if memory serves me right somewhere around $20 or so. We're now at $38. It has nearly doubled um in that time frame. Uh which is just tremendous. And yet I I still consider it as one of the most undervalued commodities and investment options because uh it's still about 30% below its all-time high of $50 which twice reached. the first in in 1980 and then again in 2011. And you can't say that about it practically any other commodity. None none that I know of anyways that it's that much below its all-time high. They're they're they're near all-time highs and well above their 1980 high. That's what I meant to say. So silver is an exception in that sense. And yet silver is just becoming more and more important and frankly indispensable and irreplaceable in so many of its applications. Uh the big one is uh solar. Solar now takes solar alone now takes 20% of all of the of the silver supply every year. And solar just keeps growing and growing. And you've got all sorts of you know inputs and arguments about how we're we're thrifting more. So we're needing less silver per per solar panel. But that's being very much offset by two things. One is that the new technologies require more silver per panel. And the installations continue to grow uh of of solar panels. You know, there was just a stat I came across the other day about how, you know, China, which is the largest producer and the largest consumer of solar panels, how they've um actually installed more in the first half of this year, well more than they than was um previously forecast. So, the consumption of silver and solar panels continues to grow tremendously. and things like AI and data centers as which as we know are huge demand sources for silver uh because of uh they have to tap into energy supplies and the big big you know the big big players initially went to nuclear because it's base load power and because they've been able to and because it's um relatively cheap but that's not something that you can permit quickly and there there's a limit to you know how quickly you could permit that build it out and so on. It's a long process and yet things like solar you can turn around within about a year and a half. And one last thing with solar is that uh the storage aspect because solar is less um predictable in terms of uh being able to deliver the energy. Obviously, it relies on the sun, doesn't produce um energy at night, but the whole battery and and storage aspect of it uh is becoming a real sort of uh twist to that whole solar picture. And um the cost of batteries has come way down. The installation of batteries has gone way up. And so, it's making solar very quickly much more of a of a steady uh and what we could call base load uh power source. So, lots of things are happening. I haven't even talked about the investment demand side of things. I don't want to get ahead of myself, but the picture for silver is very, very bullish as we go forward. >> So, we all know that um gold and silver are great safe havens for tumultuous times, which it's felt like for 2025, but obviously we have Scott on here as well. Also, I'd love to just open the floor to both of you on the commentary of what we're seeing in the junior mining space because probably the last couple years before this year felt painful to say this least, but this year um I know Peter, you've had some amazing winners as far as your picks in your newsletter. And then Scott, you've also had a fantastic year. Just on that note, I think Peter, maybe you know the commentary around silver and how we're using more than we're producing around the world and and selfishly I'm going to put a plug in here for Mexico because as the third largest producer of silver in the world, Mexico cannot be ignored. But I guess more importantly we talk about the the the move in in the senior companies that has taken place and uh Peter has has spoken to that and maybe Peter you want to touch on that and how that goes from those senior companies it floats down to the mid tiers which we're seeing a lot of financings in the marketplace probably more financings than we've seen in the last 5 years and then that trickles down to companies like Kingsman which is a pure junior explore. Um, but maybe Peter, you want to touch on that because I I think it's important. >> Absolutely. So, so, um, Scott, last year I or a year and a half ago, I was already saying, I'm going to say it would be about late 2023, I was already saying to my subscribers that we should start to expect a big wave of M&A um, happen. And then within, I'd say probably 10 n or 10 months, we started to see uh, we started to see that happen. And so we had uh first Majestic bought out uh Gateau Silver. Um we saw um it would have been Kerr who took over Silver Crest and now recently we saw Pan-American is taking over Mag Silver. And these are really big high quality rich silver mines that they're taking over. And um you know of course it shrinks the silver investment space but it also makes these companies makes them more resilient, makes them it gives them more access to capital um makes them stronger. the you know beyond that you've got the fact that the silver price moving up and and uh you know I guess uh silver um silver mining not just silver mining but but mining CEOs tend to over time over you know cycles if the cycle goes against them tend to become jaded pretty quickly and they get uh you know they get wrap on the knuckles for having overpaid for assets and that kind of thing. Um and then because they've you know uh been subject to all these these uh this criticism for for a while for several years then they become perhaps the last ones to get back u you know their mojo in terms of being willing to get uh more aggressive again in this space but we are as I say we've we've we've got multiple examples of that now starting to happen and I think once they see the silver price is up and m and and maintains itself high you know certainly anything above of say $32, $35, they start to get a lot more comfortable. And if they see that that price level will or expect that that price level will will maintain itself, then they become more confident in terms of spending capital towards uh you know building out their minds towards perhaps doing some brownfields exploration uh and certainly towards acquiring and growing. Um, and like you said, Scott, uh, we've we're we are we've seen sort of a little bit of this first wave happen with the the the larger producers. I think we have started to see the mid tiers um, and the developers benefit from that. Uh, they've they've had a much easier time. I can certainly tell you they've had a much much easier time in the last I would say probably 9 to 12 months raising funds. um a lot of these uh um you know capital raises are being overs subscribed many times they're they're closing and especially sort of in the juniors um you know you're seeing these these financings close in a day they might say they might come to market and or or go to their their uh their sources and say I I want to raise 10 million and and yet they'll be oversubscribed two and up to three times. So these financing things will close like in 24 hours and uh and and then there are there's an option sometimes to you know for an over aotment where let's say they want to raise initially 10 million but there's an option to overs subscribe by you know maybe 15 or 20%. And these are these are actually being quickly filled. So all that to say that this space has has really lit up. um the the large producers I think the market's starting to grasp that you know these high metals prices are going to the bottom line and uh they're very very profitable money-making machines and um like you said Scott the mid tiers um have an ease now of raising capital uh you know you you're starting to see the trickle down effect where the majors have have benefited and we're seeing it in some of the bigger uh u precious metals ETFs FS where you've seen these these not only a runup let's say in the last 6 or nine months but you've seen a real pop in fact in the last maybe couple of months if you go and look at their price charts it's like wow you know people have really woken up to this space and um the juniors will be next um you know obviously they're higher risk but you're you're you're going to start to see uh this trickle down effect and you're going to start to see I believe both the majors to some extent and then the mid tiers and the developers start to look at the juniors in terms of where can how and where can they grow and uh you know uh they're going to separate the wheat from the chaff. They're going to look at the quality first and um and uh that's going to be one way that they're going to grow. >> Just just to your point when you talked about those three acquisitions or that M&A activity, I just wanted to point out that those were all in Mexico. >> Exactly. >> I don't think that was on purpose. I I you know I I think you know those were a big M&A activity and it it took place in Mexico. So I put that out there because there's been some reluctance or you know some feedback regarding Mexico over the last 5 years and uh I'm going to tell you Mexico is a good place to operate and you wouldn't have that type of M&A activity if if you know the others didn't feel the same way. So I put that out there. And then you know secondly to to your point you know you're seeing the attention now being focused on these small junior explorers of which Kingsman is. Um you know we acquired ground that uh had pass producing mines on it cuz our adage is the best place to find a mine is where there was one. But I say that because I think we've got a lot of eyes on us saying hey when are your drill results? you know, what have you been doing? And uh I can, you know, say that we've just completed a 3100 meter dual program thereabouts. And just for your listeners, Cali, to put that into perspective, when you think about 3,100 m in Canada, you think of 3 kilometers of core in and for US listeners, that's 2 miles of core. Now, while you know that uh not all of that is going to be mineralized uh core, but you still have to look at that core, process that core. Um when you're a small company, you know, you've got one drill site geologist that's responsible for that. So, it's time. It just takes time before those results actually come out and and and they're put together in a in a fashion that you can say, "Hey, this is what, you know, these 14 holes or 12 holes represents in terms of the big picture." And then you've got those mid tiers that go, "Oh, hold on here. What's going on? Maybe that's something that we'd be interested in looking at." And I think, you know, that was the discussion that that was really that I wanted to have today here. Um just for your general listeners to say this is how the the marketplace works. >> I definitely agree with that is switching to now the mid tiers because you know prime mining is getting acquired by Trex which you know they're not as silverress but they're a mid tier and again Mexico uh lots you know of the smart big money looks like it's going into Mexico so I feel longterm there's obviously big value there. Peter, um I know you can't give definitive, but in historic with silver prices climbing, what is the potential or like the value ad of a discovery junior minor in high metal prices where we're at? >> Wow. I mean, it can be all over the map, but I mean, you know, I think the best um maybe the best uh analogy or or or or concept around where we could go uh is something that I repeat uh over and over. a guy by the name Doug Casey who's a famed speculator in the in the precious metals space likes to say and about silver um equities in particular and especially the juniors that when the the general public wakes up to this space it's like trying to force the contents of Hoover Dam through a garden hose you there are just so many names that you can invest in and then I mean good or bad sometimes the junk will rise many times times or maybe always the at the end especially the junk will rise you know it's the rising tide lifts all boats um anything with silver in its name will just go crazy but as usual the you know which you'd expect the top-notch the best quality stuff is what gets the best the most recognition um and the best results and so I mean frankly you know we talk about sometimes 10 baggers but 100 baggers are not out of the question by any means and that means not a,000% but that means a 10,000% gain. It's your money could go up a 100 times in some of these names and it won't be all of them but you know if you own five or 10 of them and one of them does that that'll account for practically the rest of them going to zero. So, um, you know, spread your money around. Uh, it is a riskier space. There's no question about it. But where could this can go is just, I mean, it's it's off the charts. And I think that, you know, you can you can look back. The best analogy to where we are right now is maybe the mid 1970s. That was the last big precious metals bull market. I think we're just at the beginning of the second half of this bull market. I believe it's going to be probably close to double the time length of the last bull market. Um because I think this one started in 2001 and say 2015 to 2018 or so was the mid midpoint of this market. So frankly for us to have another 5 to 10 years in this market would not surprise me. Um and in silver which outpaces gold almost in every single precious metals bull market and more in the second half of that bull market has a long way to go. And um if you think gold's going to be you know a place to be silver is just going to you know almost put it to shame frankly if you go by what the past has shown us. So the upside is just tremendous. I I you know I don't want to get hyperbolic about it and all of that but really if you look at what has happened in the past the gains can be off the charts. They really they really really can. >> So ju just on that point sorry to interrupt Cali because Peter brought up you know Mr. Casey and I'm going to tell you that he is a bit of a visionary in the space but in our cases in Kingsman he is a shareholder in our company. He he realized the value when I originally went out and said, "I'm going to take a an old district. I'm going to consolidate it, put the pieces of the puzzle all back together so I can make something district scale size should we have success." And I repeated that again u prior to this explosion of everybody now wanting, you know, a silver project. Um I took three years, three years to do that. But to Peter's point, and I didn't know if you knew Peter that Mr. Casey was a shareholder of mine, but uh he was one of the individuals that allowed me to do what I do um by financing the company early on. >> So obviously, uh Scott, I know your criteria of why you wanted Mexico and the reasons. Peter, I'm curious like I'm I don't know if you have like the data, but like how many times have your winners come out of Mexico when it comes to silver because I feel like you know they're one of the best producing, but is there like a list of like seven to 10 out of all of them are all silver from Mexico or >> naturally that's where you're going to find not only the the producers but but across the board in terms of you know different risk levels, producers um uh developers, mid-tiers, and uh and juniors. It's definitely going to contribute, I'm going to say, proportionally or perhaps even more to the big winners. There's no question about that. Um I'm I'm looking right now at my list and I see one, two, um three, four, five. Wow. out of about and this is just probably in the last uh maybe year to year and a half. We've got we've got five companies or six companies that um have more than doubled and some of them a couple of them have uh tripled. They're not all in Mexico, but but the majority of them are absolutely in Mexico. So, so yes, you know, it's it's it's it's um it's a natural that's it's where you're going to it's where you're going to find the silver and um it's where you're going to have a disproportionate number of winners for sure. I think Peter's summarized, you know, why Kingsman is in Mexico, why we're excited about Mexico, while we're continuing to build out our portfolio in Mexico, and why, you know, we're in the exploration business. Because I'll end this by just saying the drill bit is what drives value to these juniors. You see a lot of these mid tiers now that have been capital or financed and they're even making noise now that they're resurrecting, you know, their exploration programs, right? While they're doing the development side, they're going, "Well, we can we'll do this. It's kind of, you know, bricks and mortar stuff, but we're going to go out and now drill some other prospects we have or continue to to expand what we think is is there for our potential. So, I I I'll just end with that cuz I think uh you know, whenever you say drill bit drives value, that's that's what we're about as a junior. >> Peter, do you want to um mention any of the places that investors can see you next? Obviously, they can go follow you online for both your newsletters, your paid for and free one, but uh are you at Beaver Creek or where's the next one that they can see you at? >> So, I will not be at Beaver Creek. Um but I will be at Metals Investor Forum, which is um uh the end of September this year. Uh it's going to be actually went from a one-day to a two-day uh event because of demand. So, that's very positive. After that um beginning of October there's an event in um a conference in um uh Sweden in Stockholm Sweden and I think this is the second perhaps maybe the third year that's grown tremendously and a lot of interest there uh sophisticated investors that attend that and I'll be I'll be participating in that as well. So, so the these are the next couple of events uh where I will be. I think for big picture uh viewers and listeners have to just realize that the the silver market is a billion ounces a year and yet we're consuming close to 1.2 billion ounces a year. So, there's this huge shortfall and and we're unable to ramp up uh mine supply. So, that's just just like the perfect storm for higher silver and higher silver mining. um stock prices. So, get get in on it. Get on it. In on it now. [Music]
Peter Krauth & CEO of Kingsmen Resources Reveal Why NOW is the best timing for Junior Silver Stocks
Summary
Transcript
I think for big picture uh viewers and listeners have to just realize that the the silver market is a billion ounces a year and yet we're consuming close to 1.2 billion ounces a year. So there's this huge shortfall and and we're unable to ramp up uh mine supply. So that's just just like the perfect storm for higher silver and higher silver mining um stock prices. So get get in on it. Get on it. In on it. Now >> you're seeing the attention now being focused on these small junior explorers of which Kingsman is. You know, we acquired ground that uh had pass producing mines on it cuz our adage is the best place to find a mine is where there was one. But I say that because I think we've got a lot of eyes on us saying, "Hey, when are your drill results? You know, what have you been doing?" And uh I can you know say that we've just completed a 3100 meter dual program program thereabouts. And just for your listeners Cali to put that into perspective when you think about 3100 m in Canada you think of 3 kilometers of core in and for US listeners that's 2 miles of core. For disclosure purposes, our site does not make recommendations for purchases or sale of stocks, services, or products. Nothing on our site or this podcast should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This podcast is for entertainment purposes only. Scott Peter, it's great to have you both on the show. Um, for listeners that have maybe not paid attention to my show, Scott Emerson is the CEO of Kingsman Resources and Peter Crow I feel needs no introduction. If you don't know him, then you're probably in the wrong space for commodities. Um, so Peter, I'd love to just start the conversation off with you of just the general landscape of silver right now. >> Silver's been doing very well. Um the last year and a half we were uh if memory serves me right somewhere around $20 or so. We're now at $38. It has nearly doubled um in that time frame. Uh which is just tremendous. And yet I I still consider it as one of the most undervalued commodities and investment options because uh it's still about 30% below its all-time high of $50 which twice reached. the first in in 1980 and then again in 2011. And you can't say that about it practically any other commodity. None none that I know of anyways that it's that much below its all-time high. They're they're they're near all-time highs and well above their 1980 high. That's what I meant to say. So silver is an exception in that sense. And yet silver is just becoming more and more important and frankly indispensable and irreplaceable in so many of its applications. Uh the big one is uh solar. Solar now takes solar alone now takes 20% of all of the of the silver supply every year. And solar just keeps growing and growing. And you've got all sorts of you know inputs and arguments about how we're we're thrifting more. So we're needing less silver per per solar panel. But that's being very much offset by two things. One is that the new technologies require more silver per panel. And the installations continue to grow uh of of solar panels. You know, there was just a stat I came across the other day about how, you know, China, which is the largest producer and the largest consumer of solar panels, how they've um actually installed more in the first half of this year, well more than they than was um previously forecast. So, the consumption of silver and solar panels continues to grow tremendously. and things like AI and data centers as which as we know are huge demand sources for silver uh because of uh they have to tap into energy supplies and the big big you know the big big players initially went to nuclear because it's base load power and because they've been able to and because it's um relatively cheap but that's not something that you can permit quickly and there there's a limit to you know how quickly you could permit that build it out and so on. It's a long process and yet things like solar you can turn around within about a year and a half. And one last thing with solar is that uh the storage aspect because solar is less um predictable in terms of uh being able to deliver the energy. Obviously, it relies on the sun, doesn't produce um energy at night, but the whole battery and and storage aspect of it uh is becoming a real sort of uh twist to that whole solar picture. And um the cost of batteries has come way down. The installation of batteries has gone way up. And so, it's making solar very quickly much more of a of a steady uh and what we could call base load uh power source. So, lots of things are happening. I haven't even talked about the investment demand side of things. I don't want to get ahead of myself, but the picture for silver is very, very bullish as we go forward. >> So, we all know that um gold and silver are great safe havens for tumultuous times, which it's felt like for 2025, but obviously we have Scott on here as well. Also, I'd love to just open the floor to both of you on the commentary of what we're seeing in the junior mining space because probably the last couple years before this year felt painful to say this least, but this year um I know Peter, you've had some amazing winners as far as your picks in your newsletter. And then Scott, you've also had a fantastic year. Just on that note, I think Peter, maybe you know the commentary around silver and how we're using more than we're producing around the world and and selfishly I'm going to put a plug in here for Mexico because as the third largest producer of silver in the world, Mexico cannot be ignored. But I guess more importantly we talk about the the the move in in the senior companies that has taken place and uh Peter has has spoken to that and maybe Peter you want to touch on that and how that goes from those senior companies it floats down to the mid tiers which we're seeing a lot of financings in the marketplace probably more financings than we've seen in the last 5 years and then that trickles down to companies like Kingsman which is a pure junior explore. Um, but maybe Peter, you want to touch on that because I I think it's important. >> Absolutely. So, so, um, Scott, last year I or a year and a half ago, I was already saying, I'm going to say it would be about late 2023, I was already saying to my subscribers that we should start to expect a big wave of M&A um, happen. And then within, I'd say probably 10 n or 10 months, we started to see uh, we started to see that happen. And so we had uh first Majestic bought out uh Gateau Silver. Um we saw um it would have been Kerr who took over Silver Crest and now recently we saw Pan-American is taking over Mag Silver. And these are really big high quality rich silver mines that they're taking over. And um you know of course it shrinks the silver investment space but it also makes these companies makes them more resilient, makes them it gives them more access to capital um makes them stronger. the you know beyond that you've got the fact that the silver price moving up and and uh you know I guess uh silver um silver mining not just silver mining but but mining CEOs tend to over time over you know cycles if the cycle goes against them tend to become jaded pretty quickly and they get uh you know they get wrap on the knuckles for having overpaid for assets and that kind of thing. Um and then because they've you know uh been subject to all these these uh this criticism for for a while for several years then they become perhaps the last ones to get back u you know their mojo in terms of being willing to get uh more aggressive again in this space but we are as I say we've we've we've got multiple examples of that now starting to happen and I think once they see the silver price is up and m and and maintains itself high you know certainly anything above of say $32, $35, they start to get a lot more comfortable. And if they see that that price level will or expect that that price level will will maintain itself, then they become more confident in terms of spending capital towards uh you know building out their minds towards perhaps doing some brownfields exploration uh and certainly towards acquiring and growing. Um, and like you said, Scott, uh, we've we're we are we've seen sort of a little bit of this first wave happen with the the the larger producers. I think we have started to see the mid tiers um, and the developers benefit from that. Uh, they've they've had a much easier time. I can certainly tell you they've had a much much easier time in the last I would say probably 9 to 12 months raising funds. um a lot of these uh um you know capital raises are being overs subscribed many times they're they're closing and especially sort of in the juniors um you know you're seeing these these financings close in a day they might say they might come to market and or or go to their their uh their sources and say I I want to raise 10 million and and yet they'll be oversubscribed two and up to three times. So these financing things will close like in 24 hours and uh and and then there are there's an option sometimes to you know for an over aotment where let's say they want to raise initially 10 million but there's an option to overs subscribe by you know maybe 15 or 20%. And these are these are actually being quickly filled. So all that to say that this space has has really lit up. um the the large producers I think the market's starting to grasp that you know these high metals prices are going to the bottom line and uh they're very very profitable money-making machines and um like you said Scott the mid tiers um have an ease now of raising capital uh you know you you're starting to see the trickle down effect where the majors have have benefited and we're seeing it in some of the bigger uh u precious metals ETFs FS where you've seen these these not only a runup let's say in the last 6 or nine months but you've seen a real pop in fact in the last maybe couple of months if you go and look at their price charts it's like wow you know people have really woken up to this space and um the juniors will be next um you know obviously they're higher risk but you're you're you're going to start to see uh this trickle down effect and you're going to start to see I believe both the majors to some extent and then the mid tiers and the developers start to look at the juniors in terms of where can how and where can they grow and uh you know uh they're going to separate the wheat from the chaff. They're going to look at the quality first and um and uh that's going to be one way that they're going to grow. >> Just just to your point when you talked about those three acquisitions or that M&A activity, I just wanted to point out that those were all in Mexico. >> Exactly. >> I don't think that was on purpose. I I you know I I think you know those were a big M&A activity and it it took place in Mexico. So I put that out there because there's been some reluctance or you know some feedback regarding Mexico over the last 5 years and uh I'm going to tell you Mexico is a good place to operate and you wouldn't have that type of M&A activity if if you know the others didn't feel the same way. So I put that out there. And then you know secondly to to your point you know you're seeing the attention now being focused on these small junior explorers of which Kingsman is. Um you know we acquired ground that uh had pass producing mines on it cuz our adage is the best place to find a mine is where there was one. But I say that because I think we've got a lot of eyes on us saying hey when are your drill results? you know, what have you been doing? And uh I can, you know, say that we've just completed a 3100 meter dual program thereabouts. And just for your listeners, Cali, to put that into perspective, when you think about 3,100 m in Canada, you think of 3 kilometers of core in and for US listeners, that's 2 miles of core. Now, while you know that uh not all of that is going to be mineralized uh core, but you still have to look at that core, process that core. Um when you're a small company, you know, you've got one drill site geologist that's responsible for that. So, it's time. It just takes time before those results actually come out and and and they're put together in a in a fashion that you can say, "Hey, this is what, you know, these 14 holes or 12 holes represents in terms of the big picture." And then you've got those mid tiers that go, "Oh, hold on here. What's going on? Maybe that's something that we'd be interested in looking at." And I think, you know, that was the discussion that that was really that I wanted to have today here. Um just for your general listeners to say this is how the the marketplace works. >> I definitely agree with that is switching to now the mid tiers because you know prime mining is getting acquired by Trex which you know they're not as silverress but they're a mid tier and again Mexico uh lots you know of the smart big money looks like it's going into Mexico so I feel longterm there's obviously big value there. Peter, um I know you can't give definitive, but in historic with silver prices climbing, what is the potential or like the value ad of a discovery junior minor in high metal prices where we're at? >> Wow. I mean, it can be all over the map, but I mean, you know, I think the best um maybe the best uh analogy or or or or concept around where we could go uh is something that I repeat uh over and over. a guy by the name Doug Casey who's a famed speculator in the in the precious metals space likes to say and about silver um equities in particular and especially the juniors that when the the general public wakes up to this space it's like trying to force the contents of Hoover Dam through a garden hose you there are just so many names that you can invest in and then I mean good or bad sometimes the junk will rise many times times or maybe always the at the end especially the junk will rise you know it's the rising tide lifts all boats um anything with silver in its name will just go crazy but as usual the you know which you'd expect the top-notch the best quality stuff is what gets the best the most recognition um and the best results and so I mean frankly you know we talk about sometimes 10 baggers but 100 baggers are not out of the question by any means and that means not a,000% but that means a 10,000% gain. It's your money could go up a 100 times in some of these names and it won't be all of them but you know if you own five or 10 of them and one of them does that that'll account for practically the rest of them going to zero. So, um, you know, spread your money around. Uh, it is a riskier space. There's no question about it. But where could this can go is just, I mean, it's it's off the charts. And I think that, you know, you can you can look back. The best analogy to where we are right now is maybe the mid 1970s. That was the last big precious metals bull market. I think we're just at the beginning of the second half of this bull market. I believe it's going to be probably close to double the time length of the last bull market. Um because I think this one started in 2001 and say 2015 to 2018 or so was the mid midpoint of this market. So frankly for us to have another 5 to 10 years in this market would not surprise me. Um and in silver which outpaces gold almost in every single precious metals bull market and more in the second half of that bull market has a long way to go. And um if you think gold's going to be you know a place to be silver is just going to you know almost put it to shame frankly if you go by what the past has shown us. So the upside is just tremendous. I I you know I don't want to get hyperbolic about it and all of that but really if you look at what has happened in the past the gains can be off the charts. They really they really really can. >> So ju just on that point sorry to interrupt Cali because Peter brought up you know Mr. Casey and I'm going to tell you that he is a bit of a visionary in the space but in our cases in Kingsman he is a shareholder in our company. He he realized the value when I originally went out and said, "I'm going to take a an old district. I'm going to consolidate it, put the pieces of the puzzle all back together so I can make something district scale size should we have success." And I repeated that again u prior to this explosion of everybody now wanting, you know, a silver project. Um I took three years, three years to do that. But to Peter's point, and I didn't know if you knew Peter that Mr. Casey was a shareholder of mine, but uh he was one of the individuals that allowed me to do what I do um by financing the company early on. >> So obviously, uh Scott, I know your criteria of why you wanted Mexico and the reasons. Peter, I'm curious like I'm I don't know if you have like the data, but like how many times have your winners come out of Mexico when it comes to silver because I feel like you know they're one of the best producing, but is there like a list of like seven to 10 out of all of them are all silver from Mexico or >> naturally that's where you're going to find not only the the producers but but across the board in terms of you know different risk levels, producers um uh developers, mid-tiers, and uh and juniors. It's definitely going to contribute, I'm going to say, proportionally or perhaps even more to the big winners. There's no question about that. Um I'm I'm looking right now at my list and I see one, two, um three, four, five. Wow. out of about and this is just probably in the last uh maybe year to year and a half. We've got we've got five companies or six companies that um have more than doubled and some of them a couple of them have uh tripled. They're not all in Mexico, but but the majority of them are absolutely in Mexico. So, so yes, you know, it's it's it's it's um it's a natural that's it's where you're going to it's where you're going to find the silver and um it's where you're going to have a disproportionate number of winners for sure. I think Peter's summarized, you know, why Kingsman is in Mexico, why we're excited about Mexico, while we're continuing to build out our portfolio in Mexico, and why, you know, we're in the exploration business. Because I'll end this by just saying the drill bit is what drives value to these juniors. You see a lot of these mid tiers now that have been capital or financed and they're even making noise now that they're resurrecting, you know, their exploration programs, right? While they're doing the development side, they're going, "Well, we can we'll do this. It's kind of, you know, bricks and mortar stuff, but we're going to go out and now drill some other prospects we have or continue to to expand what we think is is there for our potential. So, I I I'll just end with that cuz I think uh you know, whenever you say drill bit drives value, that's that's what we're about as a junior. >> Peter, do you want to um mention any of the places that investors can see you next? Obviously, they can go follow you online for both your newsletters, your paid for and free one, but uh are you at Beaver Creek or where's the next one that they can see you at? >> So, I will not be at Beaver Creek. Um but I will be at Metals Investor Forum, which is um uh the end of September this year. Uh it's going to be actually went from a one-day to a two-day uh event because of demand. So, that's very positive. After that um beginning of October there's an event in um a conference in um uh Sweden in Stockholm Sweden and I think this is the second perhaps maybe the third year that's grown tremendously and a lot of interest there uh sophisticated investors that attend that and I'll be I'll be participating in that as well. So, so the these are the next couple of events uh where I will be. I think for big picture uh viewers and listeners have to just realize that the the silver market is a billion ounces a year and yet we're consuming close to 1.2 billion ounces a year. So, there's this huge shortfall and and we're unable to ramp up uh mine supply. So, that's just just like the perfect storm for higher silver and higher silver mining. um stock prices. So, get get in on it. Get on it. In on it now. [Music]