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 

Hecla Mining's real move should come in 2027 as silver demand keeps outgrowing supply. Nvidia's Vera Rubin uses 50% more silver than Blackwell, and 2027 will be the seventh straight year of silver deficit. Hecla is debt free, and its Greens Creek tailings are still not appreciated. x.com  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 

Silver's above-ground buffer is rapidly vanishing amid AI demand and prolonged deficits. Vera Rubin uses over 60% more silver than Blackwell, and AI consumes silver including reclaimed supply. 2027 will be the seventh consecutive deficit year, while a new mine takes about ten years from scratch to first pour. An inflection in silver will come. x.com 

Avino Silver & Gold Mines is breaking out of a falling wedge on volume, backed by strong results and a bullish sector. Q1 2026 revenue hit a record $39.4M alongside a new 127M oz silver-equivalent reserve, and Q2 silver output at La Preciosa rose 59%. $6.26 and the 200 EMA serve as support, and many gold and silver miners show similar curls on high relative volume. x.com 

Newmont is basically levered gold with little potential for discovery upside, and it is likely to pay high prices buying other companies. x.com 

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 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 

Gold miners have further to fall because gold is acting as just another risk asset. Rising oil, rising yields and a stronger dollar are pressuring gold, silver and the precious-metal miners. x.com  x.com 

Silver can stabilize around its previous cycle all-time high, but the long-term bull case is limited because its scarcity is nowhere near that of gold or bitcoin. x.com