Hecla Mining is moving from build-out to free-cash-flow harvesting, giving debt-free leverage to silver. It redeemed its remaining $263 million of senior bonds, leaving it effectively debt-free. Despite lower gold and silver prices, second-quarter free cash flow more than doubled to $136 million, with record quarters at Greens Creek and Lucky Friday. Exploration expanded Keno Hill's high-grade zones and found new veins at Midas. Some analysts see about 40% undervaluation after a 20% pullback. … Show more

Silver's supply shortfall should ultimately help drive its price higher. A commenter cites a projected 46.3 million-ounce deficit in 2026, the sixth consecutive annual shortfall. Supply should remain tight in coming months, though negative trading and fear of further losses are driving investors to sell for now. x.com  x.com 

Rising diesel prices are less of a threat to Hecla's margins than feared, since diesel contributes only 3% of its operating costs, per its investor conference. x.com 

Domestic precious-metal miners are favored, because as gold moves into its next leg up, things will get rough in some places and some governments will get greedy. @CandidMacro adds energy supply issues at mines in Mali and probably Australia. Favorites are Coeur Mining, Hecla Mining, Endeavour Silver, Blackrock Silver and FGOVF. x.com  x.com  x.com 

Washington's debt makes energy stocks, silver and Bitcoin worth owning as things it cannot print. Debt is $40.4 trillion after a $2.4 trillion annual increase; interest is $1.05 trillion. Energy firms keep paying dividends despite pension-fund selling. Silver requires patience; Bitcoin's supply is capped at 21 million. Oil stocks fall when oil crashes, silver can stagnate for a decade and Bitcoin can halve. A $10 million-$20 million Bitcoin price in 2046 is a working hypothesis, not a promise. … Show more

Aya Gold & Silver's management would not give investors a visual of what is left in its silver orebody, a major red flag. On a site visit, the map of the almost mined-out deposit was shown only after three days of asking, on a manager's phone, with requests to email or photograph it refused; the Zgounder silver mine is about 90% mined out. Boumadine is a polymetallic deposit with a silver credit, not a silver deposit. Replies cite an 11-year mine life and a resource near 100Moz. x.com  x.com  … Show more

Silver miners are far behind silver and will outperform the metal as it moves up; they are the most undervalued asset on this macro view. Even with silver forecast to nearly triple in 2026, miners could do better than that, though not necessarily by year-end. Silver likely tops this year but doesn't have to, and the existing price targets stand unchanged. x.com  x.com  x.com  x.com  x.com 

Silver, copper and uranium are durable commodity plays for the next decade. Silver, including Contango Ore and Hecla Mining, is the most conductive metal for AI hardware and about 80% is mined as a by-product, while the dollar index fell 2.4% this month and M2 rose about 5% in three months. Copper, including Trilogy Metals, faces a forecast 10 million tonne gap by 2040. Uranium, including Denison Mines and Centrus Energy, leads a nuclear revival after 12 flat years, with $50B from hyperscalers. … Show more

Silver is a quiet AI infrastructure play because AI's massive power demand runs through data centers, grids and solar, all of which need silver's unmatched conductivity. Solar paste is the biggest driver, as utilities build solar to meet AI power needs, while grid switching, transformers, connectors and EVs, which use 2-3x more silver than combustion cars, add demand. Silver is a tiny cost per unit but essential at scale, so demand is inelastic, and if supply lags, the price spikes. x.com  x.com  … Show more

Silver's supply cannot keep up with demand. It has run a structural deficit every year since 2021, with demand exceeding supply by 100-250 million ounces annually. Industrial demand hit a fourth straight record of 680.5 million ounces in 2024, up 39% from 2016, driven by solar panels, EVs and AI hardware. About 70% of silver is mined as a byproduct of copper and zinc, so supply cannot simply respond; the 2021-2025 deficit totals about 796 million ounces, roughly 25% of a year's mine output. … Show more