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 [Music] [Music] I'm Charlotte McLoud with investing news.com and here today with me is D durett of Goldstock dat.com thank you so much for being here hey Charlotte first time we've met in person I think it's like our fifth interview so we got to know each other yeah it's about time we actually see each other the face yeah really good to have here excellent and we're we're here at VC so of course gold and silver these are top of mind for attendees and I think that's where we

can start is with gold and silver prices we've we've chatted throughout 2024 about your thoughts how are you feeling about both of those medals heading into 2025 um there's probably more uncertainty heading into this year than in the past and the reason why is because you know the FED they cut rates I forget when they started 22 I think and then they went through this cutting cycle and everybody thought that you know what was going to be the outcome of that and then at what point actually um

it was were raising rates and then then at what point were they going to start cutting and then what would the impact of the cutting be and so they made their first cut in September um and in in some respects it's kind of it's now it's gotten kind of dicey so they they lowered rates in the 10 year was at 3.7 and now it's it got all the way almost 4.9 I think it did get to 48 and now it's back down to 46 a little over 46 and those High interest rates there so much uncertainty there's so many like

everybody keeps saying over and over again that the economy is strong like in the morning I stretch and I watch CNBC I I tape it and I watch the intro on the halftime show and they have all these analysts in New York and they're all bullish and I it always cracks me up I mean it's a comedy show for me for me and many respects because they all say the the economy I can't wait somebody's going to say the economy is strong within the first three minutes you it's every single time and sometimes they'll

they'll all say it within within five minutes you'll hear the economy strong three times and it's not the economy isn't strong and the reason why it isn't strong is because we have some big sectors that are not H not doing well you can't have a strong economy and have big sectors having issues uh for instance the banking sector you know you have a lot of uh their loans um are hitting levels they're going to the wrong direction delinquencies and credit cards for instance then you have high rates

that is causing issues for buying cars for instance 8% under buy a car 9% to buy a car that's not a strong industry um then on the whole you have housing which is also having interest rates and then retail and restaurants I think if you own a retail store or you own a restaurant you're probably just you know crossing your fingers that you make payroll and you don't have to lay anybody off so we have these sectors these are Big sectors that are having issues so saying the economy strong is

one thing so heading into this year you have trumps coming into office and they've lowered rates but the 10 years went up and now they they need to get rates down but rates are stubbornly high and also what's stubbornly high is the is the dollar the Dollar's at 108 I think maybe 109 today on Friday I think it's at 109 so the dollar is jumped and so you have this strong dollar strong R these are headwinds and on top of that you have a$2 trillion budget deficit if you divide that by 12 it's

$166 billion do a month on average they have to borrow and who wants to borrow who wants to buy on the long end so if they keep borrowing on the short end then they're borrowing it 4% four and a half percent well when you're borrowing a trillion dollars in 4% it's a lot of interest so our budget we have this fiscal dominance problem fiscal dominance is when the government's budget is actually funding the economy it's dominant without that that big budget deficit or that government spending with all that

government spending we probably wouldn't have a positive GDP it's it's literally the dominant influence of the economy is the spending from the government which is borrowed money that's a problem and so that intertwines this is all this complexity so that inter the budget deficit and all these headwinds all intertwine with these high rates and the high dollar it's like the FED is balancing all these balls and it's getting more and more dicey okay so your question was gu where

the dollar right I mean where's gold and silver prices going so I wanted to give a backdrop of all this uncertainty and Trump is going to have a hard time just maneuvering through these problems and keeping the economy on track and keeping it growing and he can't really cut taxes because the C taxes are already low he lowered the corporate tax he lowered capital gains last time all he's going to do is pass is keep him the same he can't really lower them he could lower taxes for the

middle class um basically what he could do is basically you know say okay because those are people having the most of the problems they can't afford their bills and say okay if you make less than $50,000 a year you're not going to have to pay taxes he could give them some relief and give them some spinning power he could possibly do that but he can't really cut taxes for the middle class or the upper class or for corporations um because they already cut to the Bone um so he has a problem there

he wants to lower the dollar how do you lower the dollar well you can lower the dollar by spending money but if you spend money then the budget deficit gets bigger and the budget is a problem so he Trump has all these issues that he has to deal with so now we get to gold um I think that the first quarter of this year the stock market will go higher and if the stock market goes higher let's say the S&P goes to 62 6300 maybe 64 I don't think it'll go Bel above those levels I think was going to get an

exhaustion so we're going up up up up and then once we get that exhaustion I think gold and silver Will Follow That exhaustion up so we get you know gold might get to 28 2850 silver might get to 33 34 as and in the start so everything kind of melts up a little bit but then the rug pull comes and I think that when the rug pool comes in say March April maybe a little later gold and silver going lower initially with a rug pool because historically that's what happened some people think that gold and silver are

going to going to be able to fade that sell off in the stock market I say no they not they're not going to fade it they're going to go down a little bit so I I think that gold will go down at least 10% so 2700 that it's call it $300 drop that's about 2400 and so I think it's going to go somewhere around there so we're going 23 my target is 2350 to 2450 I don't think 2500 holds so we're they going to get about a 10% sell off 10 to 15% sell off and gold likewise with the miners so

people that are saying that Silver's breaking out here the TA guys are all really bullish I'm like yeah there's just there's no way it's going to happen very small margin that gold and silver are right now breaking out Silver's heading to 36 and if it gets to 36 it's going to go to 45 I don't think it's going to happen I think it's going to basically we're we're basically in a fake out right now we're going to go up up up and then rug pull coming

and then that is when everything turns that's when I could be wrong I'm making predictions here but that that's when everything turns and gold bounces so gold goes down let's say let's call it 2350 2400 it boun it goes down and then it bounces up and this is when we have the magical $100 upd we've never had a $100 upd and we recorded now for posterity if I'm right goes down to 2350 and it bounces $100 we got a $100 candle when that happens it's We're Off to the Races at

that point everybody's going to be bullish gold and then we're just gonna we'll be above 3,000 and then I think we hit 3,200 to 3400 and silver 45 to six 45 to 65 so I don't know if they'll I don't know if we'll in the year at those levels but I think we'll touch those we'll touch those those levels so that was a long answer but since I have you here in person I can see your body language you didn't stop me so I just kept talking yeah yeah I I will I'll add another question here but

no I appreciate the the explanation and the specificity because I don't I don't often get quite that level of you know exact how it could pan out and of course we don't know but I I appreciate looking at that so the rug pole what what do you see as the the possible trigger for that happening um exhaustion right so basically what happens is people are reading the market so we just keep going up up up up and as we go higher each each interval we go higher we go to 6100 we go to 6200 we go to 6300 at each

level the price earnings adjust and it's not just the price earnings it's all your charts all the data like the market basically coalesces everything and makes decisions so what happens is at a certain point the Market just barfs and goes we can't go any higher than this and that's exhaustion and and it really revolves around earnings and it revolves around company strength and Company notices and Company you know it could be you did a report here you get a report here you get a report here and at a

certain point everybody just goes uh oh we can't like I said it just exhaustion okay and you know when we've talked in previous conversations you've talked about how a really key part of your thesis for gold and silver is the debt bubble and that has to pop and we're we're in a a time of transition as as you've already laid out we're literally on the the eve of Trump's inauguration so it's hard to say what's coming next but does does he change at all how fast that happens in your view

or or does he play into it in in what kind of way um yeah I I think there's a dynamic here where it's like history is playing out if you will and there's like nothing Trump can do we've reached a point I believe where any choices that are made are going to have bad ramifications it's kind of like a hopson's choice it's like which one do we choose but it doesn't matter because they're G it's going to be a bad outcome it's like you got two choices and they're both bad um and I think that's

where Trump that's the pro Trump's being handed a really bad hand here I think this has been building since 2000 so the US economy did really good in the 1990s it grew on its own we we B we had the balanced budget in 1998 99 we were doing great and then and then the.com bubble popped in 2000 and since then the economy has not been able to grow on its own we've literally had to manipulate the economy through debt injection of liquidity and interest rate manipulation and so it I think it's just it's just

reached a point where the fed the US Treasury and Trump and Congress there's nothing they can do to basically stop the train from falling off the tracks and I just think that's where we're at right here and so you mentioned the debt bubble it's all about the debt bubble um and it's about being able for instance when the budget deficit we only had to borrow 50 billion to 75 billion a month it's like no problem easy peasy we can do it nobody blinked nobody thought about wiers in the bond market after uh

after 20 uh Co in 2020 when debt just started blowing up we just printed so much money four to six trillion dollars um now we're we're up to two trillion in death deficit so now we've reached um we've reached that Achilles Hill moment when there's no when the debt is basically I actually think the Deb B already popped and it's leaking air if you listen and and we're spiraling downward already but it it's an illusion that so-called strong economy it's an illusion for instance GDP isn't really

positive what's positive is we're printing money to make it look real we're printing GDP but we don't printing we if our if we have a balanced budget right now we would not have positive GDP um so it's it's an illusion it's a patimkin economy and so like I said I think it's already popped and now we're just waiting for the train to fall off the tracks right and so it's it's already popped that's that's interesting to hear and I think maybe that connects to

another statement you made last time where you're telling us you know no matter what it looks like the FED actually has already lost control so I we've talked a little bit about this already but the FED in 2025 you know how does that play out amid everything else you've been laying out yeah um I think the FED only has bad choices the FED has become reactive and not proactive for the first time ever since they came into existence they are now in a reactive mode they really don't for instance if

the stock market fell a thousand points tomorrow they'd cut rates in a reactive way instead of being proactive and saying we don't care that I dropped a th points we're fighting inflation no I guarant theyd cut rates emergency they' do an emergency rate cut because the most important thing this isn't supposed to be Everything's changed the fed and nobody talks about it but the fed's Mandate has changed it used to be full employment with price certainty that used to be their mandate baloney it is

that is no longer their mandate in 2008 the FED basically said we will now manage the economy they started buying stocks from private companies you don't buy stocks for private companies to do you know full employment or what you know price certainty no they started man literally managing the economy and they're I think their mandate is flipped their number one mandate in my opinion today is to make sure that the economy doesn't crash that's so they're they're basically and that's all these balls in

the air they're managing all of these factors that maintain economic stability not job growth not Job full job not not prices it has nothing to do it's not about jobs and prices it's much bigger than that it's about making it's literally about managing the economy they're for instance they're actually on the phone to to people to Wall Street to the US Treasury their mandate is changed I it's it's not they're not this little insulated you know group that's doing

everything on their own no not at all they are now fully integrated with the US Treasury fully integrated with making sure the economy doesn't crash and they become very reactive so like I said I think that their number one mandate which they won't admit is making sure the economy doesn't crash they'll do anything they can inflation is secondary they say the only reason why they're fighting inflation you get their tools back their two tools are the AB ility to print money quantitative easing and cut rates

those are their tools guess what they don't have either one right now they can't cut to zero they can't print as much money as they want those two tools are gone and they're trying to get them back that's what they're trying to do that's the only reason to fight inflation that's the only reason and that's the reason why pal um is is basically going to be Trump's Nemesis here in the first half of the year because pal won't cut until the economy goes into sewer and Trump

doesn't want to go into the sewer so Trump was going to want him to cut rates and they're going to be at each other's they're not going to be friends Pal's going to be very angry at Trump by February they're going to be enemies for a while and I wouldn't be surprised the Pal's gone by June because he's won't he's going to be tired of putting up with Trump um and then whoever replaces him is probably going to cut rates but he won't be whoever replac him won't be

able to cut rates fast enough I mean you got to cut rates 3% to make an impact they can't cut 3% overnight it take you 6 9 12 months to cut 3% well you could but it's not it's going to have rotations so this is reactive mode these options Choice things things are really out of control it's like kind of everything I saw coming is coming yeah and I think it's it's important to look at what's going on in the US because it's so impactful on on all markets and and gold but you know a

ver I see I've noticed that Jay is really trying to bring in this you know Global geopolitical situation and have discussions around that so on a global scale are there any any factors that you're paying close attention to that you find worrying right now yeah this is another topic that I really enjoy talking about yeah they did have some geopolitical discussions today I liked what colon McGregor said um he spot on he basically said and I've been saying this that the US cannot afford it's

military that we have to bring people home we have to cut the budget deficit cut it because we can't afford it we you know we have two2 trillion if you have A2 trillion dollar deficit it's time to basically say uncle sorry we can no longer be the policeman of the world we can't afford this it's it's bankrupting us and besides the point he also made this is that the rest of the world doesn't want to fight a war who's our enemy here you know um we can come home just says we can't um but the us

since say 1945 and more so in recent times the US has had this kind of a duel it's like like the US is kind of like a Gemini where you have basically two personalities it's like they have we have this International agenda that isn't transparent so you have the you know the Pentagon and the military and and the defense department they're had had state department they have this agenda this International agenda it's it's kind of a CO coales of military proactiveness with business finance and it's bizarre

because it's not transparent and you get these new presidents that come in and it's like they just carry they just kind of let it keep going keep going nobody stands them why nobody ever says why are we doing this right and it's like why do we have 200 military bases who's who's who are all these enemies we have right um and so I to me it's all coming this what mcgreer said it's all coming to an end and so I think that the the the bricks plus expansion the Ukraine war

and the bricks expansion is just a sign that we are in a major major shift a major major transition where the us is going to have to change so in so many ways I mean our International policies our financial system internally I mean the dollar the changes that are coming are just so so massive I don't know I don't know if Trump um wants to do it or has enough backing to do it I I don't think so I I think I think with Trump is going to do is I think he's going I think he will try some significant changes but I think

they're they're all going to be um done from the Viewpoint of improving things instead of what you really need to do to make change is you have to go through pain first and that's not Trump's style and so I don't see Trump really the revolution for instance if you pull all all of all those troops back home it's massive layoffs to the military it's massive layoffs to the defense department massive layoffs to the defense industry nobody wants to do that unless they have to so that's not

what Trump's going to do but that's what's necessary and so since he's not going to do it it's like that means we're going to go through some serious problems until we're forced to do it but I think we're going to be forced to do it by say 2027 what I see happening is the next three years once the re recession begins and I do think the recession will begin this year once the recession begins I think it easily last all the way through 27 and I think 27 is going to be the worst of it and then by

the end of the TW end of 27 so many changes are going to happen I I see a a reset coming to both our financial system our currency and our geopol politics just major major transformations in 27 so just kind of hold on to your hat but I I'm very positive once we get to 28 now I'm not positive that our current system is going to stay together I'm confident that the new system is will be better but it'll be different it's not going to be the same system for instance today we're all

about materialism that I don't think materialism is the future and you're like well wait a minute we've been in materialistic world since the 60s how could that how could we PIV it away from that Don that's we're that's that's America and basically I don't see that um we we'll have to wait till we get to 28 29 and see how America shifts but I see um a social Revolution coming where um we're not we're not nearly as materialistic as we are today that's interesting so 2027 that's the

year to watch we get through it in 2028 hopefully we'll see how it's looking then but probably quite different I think I think people who are listening to all of what you have to say are probably going to be wondering okay so how do I prepare for this uh I'm sure gold and silver is part of that any other elements uh usually we also talk about the gold and silver stocks um where where should we begin how how can people prepare for this oh man it's it's such a big question I oh

man it's it's different for each person there isn't there isn't a single answer but I think that the the best thing that you can do to prepare is to be more open-minded to not expect do not expect your life to just be the same expect change um and and then since you're going to expect change then you have to prepare for how what how change would impact your life but ex that would be it it's like okay change is coming and it might not be it might be turbulent and if it if that is going to

happen then how am I going to how's my life going to be impacted now there there's kind of there's like different things right but for me I'm just going to focus on two one one's financial and the the other's spirituality because I really think that the shift that's coming is going to be much more spiritual than you think I I I don't I actually write about this we go to my my website down at.com I've been writing about since 1990 I've been writing about the future since 1990 I

actually got into metaphysical writing before I got into gold and silver I've been writing about metaphysics since 1990 a long time so I've been writing about the transition transformation of the United States and America for a long time 30 plus years and I think we're on the verge of it so there is going to be much more of a spiritual shift coming than you expect I'll just leave it at that don't think that these changes that are coming are not going to impact you spiritually they they're going to impact

you I think extremely people have no idea and the reason why I it's hard for me to explain it in words because I don't want I don't want to go into into into spirituality I'm just saying that that that you will be impacted spiritually in one way or another nine out of 10 of you um something it's it's it's going to become more important in your life I I'll put it that way it's going to become more important than you think um because this happened in 911 as things disintegrate around you you tend

to get spiritual and that's what's coming Society is going to disintegrate around us and when as it does it's going to it's going to force you to look more within so that's going to be a big Trend which knowing most people aren't going to expect me so kind of put that out there that you're going to get jolted in many respects and when I say spirituality I really I'm talking about is belief systems what do you believe right and that those are those everyone's beliefs are going to get

tested if you will challenged you're going to get just going to be with your friends and family where you work all this stuff um it's going to be a big that's what turmoil is going to do but 911 was short-lived we did have this big spiritual impact in 911 but it was a very short-lived event after a year it was kind of gone and then people went back to their lives well what's coming once it starts it's actually going to intensify so you can imagine it's like we start the crumbling effect and then

it crumbles lower and crumbles lower crumbles lower you can imagine so it starts to impact you psychologically spiritually belief system so that that's coming okay so now we go to the financial side of things we both right so in the financial side of stuff we're going to have a lot of new currencies a lot of people like have cash they think cash is King they got cash in the bank well I believe that cash in many respects is going to continue to lose its value through inflation but worse than that when we eventually get a reset

you're going to get a rug pull on your your cash so you might wake up one morning and you might lose a third of your let's say all you have is cash in the bank I got 200 Grand cash in the bank you might wake up in the morning and you lost onethird of it it's gone poof so you you got to diversify if you're only in cash don't expect that cash to hold its value if you will so cash can be part of this answer but no no not the full thing because I'm telling you if they do a reset if if the

federal government once the US Treasury and this is coming once the US Treasury cannot borrow what it needs cuz remember I said earlier they're averaging 100 today they're averaging 166 billion a month so every so every they go they do it they do an auction and they're just 166 166 then we have a recession and now they have to do 250 350$ 400 billion Doll Auction and all it will take is one or two or three auctions that are basically starting to fail and then the treasury goes what happens is then the fed will

have to buy all all the bonds that happened in Japan where Japan had started buying all the bonds well we're going to turn Japanese and then the fed's gonna all once the FED has to buy all the bonds it's pretty much game over because that's just going to destroy your currency so if the FED buys let's say the FED has to Let's we to have an auction of $400 billion doll and the FED has to buy all of it at that point the treasur is going to go we can't do this anymore we can't borrow

what we need well okay at that point then they do a reset and that's when the cash gets you lose 30% of your value I think 30% is a minimum they do a reset you're can lose 30% of a reset so so cash isn't a store of value so you have gold and silver which I think are fabulous places to be um as assets um I think owning physical gold and silver I I always say you everybody should have a thousand ounces of physical silver so that's about $36,000 if you got it you know otherwise you can dollar cost

average and try to get to a th000 ounces anybody anybody can dollar cost average to a thousand I know Andy sheckman always says you know I'm gonna buy some silver every single month he's been buying silver every single month for 20 years or something it's unbelievable so anybody can dollar cost average um get that $1,000 an ounce now if you're more wealthy then you can get gold but most people can't afford $2,000 a month for an ounce of gold now it's 2700 so but you can you can uh stack physical silver

and then after that um I'm a big believer in crypto most people aren't so I I think a um some crypto makes sense we don't know if crypto is going nobody knows if what crypto is going to do in the future is it going to survive is it going to be a main stay in the financial system you know these are these are questions we don't know I personally do believe that crypto is going to have a place but some of these crypto projects like harbar are software programs har bar is a database hbar is

going to be used by financial institutions and so some of these crypto projects I think you know H bar could be used for dual due per dual purpose so I I think that I think it belongs in your portfolio you should say you should have 3% of gold now I'm like 3% of crypto um and you know stocks I think you have to be very lar of stocks have done fabulously well 20 the last two years you know average about 25% 25% compound is is fabulous but I think you got to be really careful now point forward I think

they're very risky but you can but do both you know uh local inter us and international um and then of course you always have real estate that's something that's always been kind of a main asset of a lot of people buy a house um I'm yeah I'm big on that I'm big on you know owning a house because if you own a house if there's inflation your mortgage overall mortgage shrinks so owning a mortgage is is actually protects you for against inflation so I'm I'm big on I'm

big on that as well okay I think that's there's a lot of considerations for for people in many different aspects there to think about I I will ask you also just because we're here at a conference where there's all these gold and silver Junior companies down on the show floor what do you see coming for them we talked about how your your thoughts on trajectory for gold and silver prices in 2025 are they following a similar path there is this an area people should be involved in right now uh or you know any

any favorite companies you're looking at um yeah so the miners are unbelievably cheap right now um they're out of favor most of them are trading at at least a 50% discount you have some of the the biggest names in the business Newmont trading than nine multiple which is just ridiculous You' be trading at least of 15 um they're generating a lot of free cash flow and they're not getting any like the nine that's how much free cash flow they're going vers versus their market cap nine

times their Market Gap um or the no the free cash flow times nine um so every they're all cheap Newmont prints as a four bagger which is you know it's a major so new's a four bager you can imagine with all these other stocks I mean you can literally throw darts and make money at this Market I mean the silver miners have even more when I say it it's a four barer that's a $2,000 three $4,000 gold excuse me but I think $4,000 gold is coming so I don't think it's Pine in the sky I think it's

legitimate Target I think we get to 3200 next year 4,026 it's a legitimate Target and so if you use $4,000 gold and you'd use um a 40 multiple which is what the multiple was in 2011 it was 39 you got have a $100 silver um if so if you have use a 50 multiple it's $80 silver so and I think 50 I think $50 multiple is easy I think we we'll go from we're currently about a 90 multiple I think it'll squeeze to the mid 60s when we go from 34 to 50 I think by the time we get to 50 I think we're

in the mid-60s so and then we just squeeze down from there so to to say that um if we go to $4,000 gold and we don't have a 50 multiple so you're looking at $80 Plus silver um so the silver miners are just unbelievably cheap I mean you throw $80 number out there on silver on the on the free cash flow they're just silly cheap I mean like I said new mons four batter you can imagine what these silver miners are it's just it's it it's kind of mindboggling that these quality usually

I mean I like to be overweight quality producers because I think they have the best best risk reward and people can buy quality producers today that have unbelievable leverage if we get to $4,000 gold now I also say that if you don't believe in $4,000 gold don't buy any gold miners don't buy any silver miners and you got to believe it um you know don't do don't do a lottery pick well maybe it'll go to 4,000 so I'm going to buy it no no have conviction if you don't have because

these things are going to up and downs and be very volatile the only people should be buying gold and silver miners are True Believers I mean I got into gold mining believe it or not in 1990 because I believed back then that the US government was going to go bankrupt now I've had to wait 34 years but I believe they are going to go bankrupt I believed it so if you have that strong belief it makes a lot easier to go up and for the stocks to go up and down um and so you I think you need strong belief but I did I

did a a um a talk here today just it just did one um a workshop here at verit and I listed my 15 must owned silver stocks so I'm I'm going to list them off here so I think that I own 47 silver miners and I'm at 48 on on Monday I'm going to buy another one that I found here today but the 15 top ones the if you follow me on um on Twitter I always talk about the Mormons so the Mormons where the Mormons came from was a friend of mine he was buying lottery picks and I told him stop buying the ugly girls and buy the pretty

girls so the next day he goes in he goes like okay I told my wife I'm buying the Mormons and I go he go I go what he goes I he goes I'm buying the pretty girls I'm marrying all of them so I said I started cracking up and so I create a list of the pretty girls the eight the eight pretty girls and they are um core mining hecka Pan-American silver first Majestic Endeavor silver freso hild and ya and number nine that's almost pretty enough to be on the list is silver Corp that's nine those are

those are your those are the kind of a you want to own the Mormons it's pretty the all nine they all almost every single one of them prints is a 10 bag or $100 silver $4,000 gold which is crazy um even panamic it's like how can these stocks be so darn cheap okay so now we have two development stocks which would be 10 and 11 those 10 are go gold which is Building Los Ricos South and Los Ricos North in Mexico two beautiful projects the capex isn't that high very economic just love that development

story and then the other one is vizla which has one of the best silver properties so I just love these really high I'm all about high quality you notice the Mormons are high quality and then these two are very high quality um vizla they did a pea and the nav was five times the cap back you never see that it's usually two it's like it it was UN unbelievable paa and it just keeps getting bigger so I love those two then the next four are all 20 Baggers must own 20 Baggers the first one is Discovery silver they have

500 they did a DFS for to mine 500 million ounces of silver they're going to start at 23 million ounces I think it's silver equivalent and then they jump to 32 million ounces in year four well first Majestic they just did a Gatos deal and they're at 32 so Discovery is going to catch first Majestic in year three or year four it's a big mine and they're valued at $265 million first Majestics valued at three billion um there's a big disconnect there um and so and they have a billion

ounces so that 32 million ounces is just on the first 500 um the next one is um a Veno and a Veno has 370 million ounces of silver equivalent and they have a market cap 165 million they're only mining about 3 million ounces but they're going to grow at about a million ounces a year so they're going to get to 7 eight million ounces a year and they're valued like 165 so Veno I think Veno is the cheapest silver producer um the next one is silver storm number 14 um silver storm is they

bought a mine from uh first Majestic uh La Parilla that wasn't quite big enough for first Majestics they shut it down in 2019 and it has firstes says it's got at least 50 million ounces but it currently only has a resource of 20 but it it's open at depth so it's basically a 40 50 million ounce mine so they're going to be able to mine two to three million ounces a year for 10 million you know 10 plus years and they're valued at $34 million so just on laa alone it's probably a

five bagger plus well then they have this other project called San Diego that we basically get for free it has 220 million ounces of silver equivalent but it's only at 110 gram so it's a low-grade mine but guess what at $50 silver it's economic and you're getting all that optionality for Fury and on top of that it's in Durango which is near their lailla mine so they can just expand their La Pilla mine they don't have to build a new Mill hopefully they don't save them time on

permitting but they can expand production just moving or over it's it's in the same area they're both in Durango so they're going to be able to expand production out of San Diego and over time then they think San Diego is going to grow at least to 300 million ounces so you're getting 300 million oun for free okay number 15 my last one is silver tiger um silver tiger I've followed them for a long time they're they have a an open pit it's basically a gold mine gold and silver but it's

mainly gold they call them silver Miner because after they do the open pit they're going to immediately build an underground high-grade Silver Mine uh they have a lot of resources but it's very economic I really like their management team Glenn Jess he's got a plan he's going to build this mine I'm very excited about silver tiger they should get their open pit permit both Discovery and um silver tiger they're both waiting for open pit permits in Mexico and there's been a lot of here at

this show there's been a lot of positive sentiment that we're going to see one we're going to see an open pit permit in the first quarter of this year that they're already writing it up writing these permits up they're coming that's the rumor and so once cver tiger gets that permit for that by the way the underground mine is already permitted which makes it easier to permit open pit it's in Sonora by the way Sonora is probably one of the best mining districts in Mexico it's in

northern Mexico there's no people up there Discovery is in Chihuahua which is another mining District so they're both in really good areas um so silver tiger um yeah so I think silver tiger gets permit this year gets Finance this year construction starts this year and uh silver tiger at Discovery they could start construction this year and silver storm should get into production this year in La Pilla so that's 15 that is a that very good I think that's really helpful for everybody all the 15

I I appreciate you listing them all out so I think we've talked about situation as it stands today what people can do to construct their portfolio and get through this and we've got the list of all the all the favorite silver stocks so I think we can wrap it up unless you had any any final points you wanted to leave everybody with I just want to say this is my favorite interview doing it in person is so much more fun I think it is it really it's so good to see you in person um yeah I'm so glad we had the

chance to meet here and hope to see you again in the future hopefully in person maybe it'll be on screen maybe both right okay really good to have you here and and once again I'm Charlotte McLoud with investing.com and this is Don durett [Music]