➡ The Arcadia Economics article discusses the current state of the silver and gold market, highlighting the potential decline in production from mines in Mexico, Chile, and Peru due to political situations and lack of exploration. It also mentions the increasing demand for silver, particularly for industrial uses like solar panels, and the growing deficit in the silver market. The author suggests that this could lead to a rise in the price of silver, making it more viable to bring new projects online. The article also touches on the influence of Elon Musk’s advocacy for solar power on the demand for silver.

➡ China and India are key players in the solar industry. Recently, India’s gold and silver imports have been strong, despite a slight drop in October. The demand for metals in India has been higher than expected this year. Geopolitical events, such as conflicts and potential inflation, could impact the price of metals.

➡ The article discusses the idea of backing currencies with gold instead of paper, as gold has consistently held its value throughout history. It also mentions the possibility of the BRICS nations creating a new currency and the potential reactions from the western world. The article further explores the idea of devaluing the dollar or reducing US Debt to GDP to avoid an economic downturn. Lastly, it touches on the challenges in the mining industry, including security issues and the theft of Newmont concentrate in Mexico.

➡ Silver Viper Minerals is working on securing a deal that will benefit its shareholders and help the company progress. Despite the challenges, the company is committed to not rushing into a bad deal and is exploring various options, including joint ventures and mergers. The company is also awaiting a tax refund from the Mexican government, which could help kickstart a small program. The ultimate goal is to turn the project into a mine, and the company appreciates the patience of its shareholders during this process.

➡ The business might take a few months to show progress, but it could be faster or slower depending on various factors. You can check updates on SilverViperMinerals.com. They hope to secure a deal and funding to expand their drill program. They’re looking forward to sharing their progress next month.

If there is an increase in production uk you’ve brought in a minor two online, but the mines that are running out of reserves and or are far exceeding the mines that are going to come online in Mexico. So I would expect those numbers to start coming down further and I would say the same for Chile and Peru because there hasn’t been the level of exploration given the political situations there. So you’re knocking out, I think you’re going to see a decline over the next, you know, three, four years in all those countries. Well, hello there my friends.

Chris Marcus here with you for Arcadia Economics. And a lot of developments as we continue on the post election period. Starting to get some clarity on different policies and things that might happen, which I would say whether you like them or not, if we get even a fraction of them, certainly going to be a period of change. We also have new silver and gold data out of India, getting the latest import numbers and a heck of a lot of other things going on. And fortunately to join me for his monthly call is my dear friend Steve Copa of Silver Viper.

And Steve, pleasure to have you back on in again today on a week where we have a bit of a better start. We’re recording on Tuesday a little bit of a better start to the medals this week. And how is everything going with you, my friend? That’s going well, Chris. I guess we’re a little bit different than last month where we were cheering and yelling at the middle of the interview that we were hitting 35 silver. But it’s nice to see it start to rebound a little bit here and settle back in post election which is nice.

Yeah, I remember that. That was that day where we were there recording the moment it touched 35 for the first time in Tom believe that was since either 2012 or 13. And what one side note before we take a look at the price here is actually we’ll pull the chart out a little bit and take a look at the price. You see the level we’re at. Only other 2 other times in history it crossed that territory. Let’s suppose excited if you don’t count these all as one. The other two times we were there we did go to $50 which is not necessarily to say that we will go to $50 this time, although you and I have talked about plenty of the reasons of why that on a medium or longer term time scale does become more likely.

But either case, Steve, like you pointed out in the past couple of months we did make it up to 35 briefly and came back down under 30 at one point last week, rebounding a bit today. And as I mentioned to you before, we started calling a lot of short covering, both gold and silver. But any thoughts before we dig into some of the news on what do we have 31, 30 silver and 26, 33 gold today? Steve? No, I mean, I think he kind of what we talked about beforehand is the short covering and that. And it wasn’t surprising that, you know, that there was going to be an event that people would step in hard and try and get, you know, the powers that be out of some of these massive shorts that we were seeing.

So that was my initial instinct, as soon as it was happening was, here we go. This is, you know, this is what we’re dealing with right now. That’s why I like to see that it is settled back in and starting to come back up. My, my other thought was, is that this is just a great buying opportunity for the east to start accumulating and stacking again and start moving metals, you know, on the dip here and get everything physical that it can, like we’ve been seeing over the last couple years, at least, plus of watching metals move over to, you know, various parts of Asia and Russia.

And it’s not a surprise. And I think that’s what you’re going to see here with the rebound is that you’re going to see a lot of spike up in those exports of gold to those countries. Yeah. And a. Another set of flows that we’ve seen within the metals. You and I have talked about this plenty. How would it be the eventual rate cuts that finally bring the west back in? And sure enough, we’ve seen that. And in fact, we started seeing metal go in here in the blue line is how much metal is in these silver funds.

I think that was perhaps more just in response to gold, which had already started rising back in February. And you see down here about 1.283 billion ounces now up to 1.386. I guess that’s two weeks now already. But you see over 100 million ounces added. If we looked at the Silver Institute’s data, they had forecast 50 million ounces into the ETFs. In their report that came out last week, they actually upgraded that while calling for a new industrial demand record in 2024. But more silver going into the ETFs, which the key takeaway, this deficit, when you account for silver going into the ETFs, went from 265 to 282 million.

Not, not ideal to keep the price down over the longer term. But Steve, any thoughts on that along with anything maybe you’re seeing? I don’t think there have been any substantive, substantive changes in the money flowing into the mining sector, especially in the decline the last couple of weeks. But any thoughts on that? No, I mean it’s that, that’s the ongoing trend that we’ve seen in the silver sector. And I mean I saw a report projecting Mexico to have a bit more supply next year. I’m, I, that’s a short term if, if there is an increase in production.

UK you’ve brought in a minor 2 online but the mines that are running out of reserves and or are far exceeding the mines that are going to come online in Mexico. So I would expect those numbers to start coming down further and I would say the same for Chile and Peru because there hasn’t been the level of exploration given the political situations there. So you’re knocking out, I think you’re going to see a decline over the next, you know, three, four years in all of those countries. And Steve, may I just hop in for a quick second there because what you mentioned in Mexico they actually did touch on in the report where they have mine production going up 1% although keep in mind we had Newmont’s Penasquito mine shut down.

So that 1% is including that last year was a lower number from the shutdown. So but you want to add that in. Go ahead. Yeah, I agree that so yes, they’re, they’re projecting a small increase based on that running full time and whatever else is happening. But there hasn’t been any expiration virtually at all in this in Mexico and you’ve got a lot of mines that are hitting the end of their mine life. So again I think that when we’re talking, you know, multi year runs, the number in production that’s going to be coming out of Mexico is going to go down and like I said, the same for Chile and Peru.

And so where would the deficit just keeps growing. The demand for the metal is growing whether it’s, you know, to hold the hedge against currency or for the industrial side, you know, with solar and everything else that’s going on and the increases, the amount that we need just in general because we’re going trending more towards those technologies and then solar doubling the amount of silver in this newest generation of panels that’s needed. So the deficit’s going to grow and nothing’s coming online. And so our grand scheme that you and I have always talked about for the supply and demand Side is that you’ve got to drive that metals price substantially higher to warrant bringing a lot of these new projects online that are fringe economic right now or giving the majors confidence that these metals prices are real and going to sustain or move up to start buying and putting those things into production.

So it all bodes well for silver in the grand scheme of things. It’s just continuing to ride the trend and, and this will be a multi year trend. This isn’t going to be a straight spike up and straight spike down like this is. We’ve setting a new level for silver and like we’ve said the industrial side, there’s never been a wave of silver where we’ve seen the industrial demand the way it is, you know, in this cycle. Yeah. And especially with Elon Musk now talking about how much he thinks the country can be powered by solar.

I played a clip yesterday where he was mentioning that if you had a 100 by 100 miles square grid you could enough batteries you could power the whole country. And interesting just that. Now it’s not just him talking about it. He’s actually his position seems to be elevating the amount of influence he has rather quickly and certainly that is something to keep an eye on along with. Obviously when it comes to solar we have China being a big factor, India also being a big factor. And India we did right before our call began Steve, we did get the latest gold and silver imports.

So here the darker bar is the 2024 figures which we can see have been pretty strong. Right around here is where we had the tax imports cut, duties cut. So in October, slightly less than last year, still a decent number. Over on the silver side we see fell off a little bit in October. Although the last time I calculated these we were about on pace to match that 2022 record which came in at 300 million ounces. So still the solar impact being felt. And Steve, any thoughts on either of these India gold and silver imports before we move on from there? No, I mean I think you just saw a lot of the buy happen earlier there this year based off of those taxes and that.

So it makes sense for it to come off a little bit but not I think you’ll see my, if I’m guessing moving forward with the dip back in prices, I think you’ll see buying there increase again on with metals pulling back here over the last month. So it’ll be interesting to follow that and see what the November numbers are going to look like moving forward with the pullback in prices and into December and I could see certainly December being a much higher number the, in the past looking at what, or at least what they did last year.

So I mean again it’s, India’s been, it’s, it’s been an amazing demand there for metals this year relative to what was expected by the Silver Institute at the start of the year and having to react to how much metal has gone that way. So again, I mean India goes through waves year by year, a lot of it depending on taxes and other things and but in general, I mean they’re, they’re definitely importing more than they have in the past or matching. Right. You say records from the past of how much metal they’re bringing in. Yeah, I think that’s a great point.

You mentioned the pricing impact because we’ve seen at least in the reported figures China slow down. I think there’s data to suggest they may not have entirely stopped buying. And they also have a history of, you know, you’d see patterns of buying and then after a couple of months and they just increased their reserve figure and one lump sum. But again I’ve heard people write and speculate that with a higher price that slowed down some of the price sensitive buyers and now you have the pullback. So we will see how that goes. Steve, I’m curious if you have any reaction of how metals might perform given some of the geopolitical news A couple days ago, Biden giving authorization for Ukraine to use US Missiles to fire into Russia which obviously Vladimir Putin has made his thoughts clear that he would not take to that kindly.

And you and I have talked about a lot of these red lines that seem to be getting crossed and this was coming out on Tuesday, Ukraine fires U S Made longer range missiles into Russia for the first time. We’ll assume for now this report is accurate. Who knows these days but seems like they gave the authorization and then they already did it. Obviously not a good progression for humankind. But any thoughts on what you see playing out here and potential impact on the metals from that? Yeah, I mean I, I don’t know the. I sometimes you with these conflicts you feel like the world in the market gets shocked when it first happens.

And I mean I’ll go going back to the start of the Ukraine, Russia conflict, we saw that and then people kind of get numb to it. I think the same, you know we saw with Israel and what’s going on there. Unless something really kicks off and which it could but we’ve seen some of those things, events happen even in the last month there and, and it hasn’t really on a day to day basis really shocked at all the market. So I think people get kind of numb to some of them unless it’s a new conflict. But further to that article, I mean I saw Putin today announced that he was resigning and declaring a new nuclear act, you know, because of, as a reaction to this idea that missiles are going to be coming into, you know, what we just talked about.

So it’s always a, I mean that’s just a worldwide scary thought of what at any given point Russia could do if they decide to, if Putin decides to throw a temper tantrum. So it’s something to keep an eye on, I feel more, I mean like we get, we’re going back to Russia that and that side, that was the supply chain conflict and what, how much that affected like the computer chips and all these other things, you know, at the beginning of that conflict and shutting down and, and that was more I think would dictate rise in inflation.

You know, that we saw people not having supply people having to charge more for goods because they couldn’t get, couldn’t get their goods. So they were willing to pay more. And I think that’s what hit us really hard a lot in inflation early on in this cycle. Why inflation went crazy and everything started costing so much. And that I guess if you’re going to turn back in, if the conflict escalates there further and you all of a sudden start bringing back other issues on that front, then I don’t want to see inflation go spike back up in the way that it has in the past because then we’re going to pause rates and all this other, they’re going to use that as an excuse to pause rates and that’s not really good for our market at this point.

But we’ll see. I mean, I always think that we always need a new conflict. We need something new somewhere else in the world. If you’re, and then you get kind of that week or two weeks to a month of lift based off of geopolitical events around the world. But if it really kicked off, I mean, you know, it just depends. Russia could amplify that very much. If they start flexing and threatening, you know, shooting off a nuke or something along those lines, then then the world’s going to pay attention and you’re going to get some geopolitical tension which will make metals prices rise.

Yeah, obviously, hopefully we do not get to that point. Although is interesting part of the takeaway from the bricks meeting was that they are going forward with launching a precious metals exchange. And you and I again have talked about silver as a strategic resource. And I’m not saying that I’ve seen anything to suggest that this is happening or would happen. Yet I do wonder, is that an area of vulnerability if you restrict supply of certain resources? And at least these types of developments unfortunately bring us closer to the point where we may find out. Although, Steve, I’m going to read you a quote here which will sound familiar because here we have in the current system, the United States can go into debt for free at the expense of other countries because what the US Owes for them, owes them from trade, is paid at least with the dollars they can create.

Considering the serious consequences and the crisis that could arise from this situation, we think that measures should be taken to avoid that makes sense. Consider it necessary that international trade is settled, as was the case before the great misfortunes of the two world wars, on an indisputable monetary basis, one that does not bear any mark of any particular country. What basis in truth? Nobody can really imagine any other standard than gold. Now, Steve, you may think this is the latest quote from Putin or someone in the bricks, but actually this was from Charles de Gaulle leading up to the collapse of the London gold pool.

Jan Nguyenhaus wrote a great article on the history there and how they were repatriating their gold. But what’s stunning is that it sounds like it could be directly from the bricks. And we also saw the last time one of these schemes was breaking down, gold went from $35 now over 2600 not. Well, I would say not to say that that’s exactly how it’ll go this time. Although also wouldn’t say that that’s not how it won’t not go this time. So, Steve, does this seem familiar to what we’re experiencing in the world? Yeah, I mean, this is what we’ve said, that there’s too many people around the world that aren’t happy with the US dollar being the world currency, especially given the, you know, the increasing rising debt and everything else that we talk.

I mean, Charles, Charles did a really good job here. It’s a world currency. Makes sense. Or, or of, you know, and again, I mean, we’ve seen snippets of that with the euro coming together and, and now the BRICS nation’s trying to do what they’re doing with Russia and China and everyone else. So I think they, you know, people are fed up with what’s going on and they’re scared of keeping themselves tied to the one country that controls and dominates everything. So I mean I, I’ve always, and we’ve always, I mean again, we’re gold and silver bugs.

But I, it’s always made sense that a currency should be backed by gold and not, you know, paper and you know, everything else that’s fake. When we want to see a real tangible asset that’s held, its the only asset that’s held its value the way it has throughout history and paper currency has it and it never has. And every country that’s had one that’s been the dominant currency has eventually gone back down to zero and been worthless, but gold hasn’t. So it fully makes sense to back these currencies with gold and have something that is a real asset behind it.

And I think you’re going to see that. You’re going to see the BRICS nations create something and then it’ll be interesting to see how the western world falls in line and reacts to it once it’s become a real thing and they actually start trading in that. And I think it’s obviously in the grand scheme of things we think that’s fantastic and gold will react very well to it. I don’t know what the world’s going to look like as far as how the west will push back against that. But I think in the grand scheme of things we should have one world currency that is backed by something real.

And doesn’t I 100% agree? Yeah. And obviously with the dollar backed by the debt of the U.S. treasury, which has not been on the best trajectory for quite a while and even as the plan stated, not leaving it on a better trajectory. This was from Dan Oliver of Mirmer Con Capital mentions Trump advisor Elon Musk cut 90% of Twitter’s workforce with no perceivable change in the product’s output, which on one hand I do think it’s a positive that you have someone who is an entrepreneur who’s been successful in a lot of ways at least. And I hope that factors in in the long run.

But Dan mentions but even if Trump and Musk cut 100% of discretionary spending plus all military spending, the deficit would persist and grow. And reminds me of something that I was really excited to share with you in the audience today because as many of you know, I’m a big fan of Luke Grohman and this was from his mailbag that came out last week. He has talked a lot about basically the situation we’re in and something is going to have to be done. Maybe not the best option. But let’s take a listen to someone who asked him what he would advise Trump to do.

Luke, you get a few minutes to sit with President Trump, identify financial economic issues and provide your specific recommendations on how to address them. Go. I would sit down and I would say you need to devalue the dollar and or get US Debt to GDP down significantly first very fast, right away in the first three to six months of your administration, or else you will risk running into the worst economic downturn in decades. Turn yourself possibly into a Herbert Hoover in the history books. If you try to cut spending or implement tariffs into debt that has not been reduced as a percent of gdp, you would then risk losing Congress in a landslide.

So we will pause there essentially as he’s saying that can do this. But unless the debt is addressed first, which is what we’ve been talking about for years, some of us decades. He also mentions later in this clip about how the Federal Reserve accounting manual allows for the treasury to revalue those gold certificates. They’ve already talked about that earlier this year in regards to Bitcoin. So any thoughts on that? Where unless they’re going to let the whole thing melt down, we’re getting inflation, whether it’s what he says here and a proactive gold revaluation or if the Fed just starts monetizing.

But what do you say to that one, Steve? I don’t think it’s ever going to happen. I just don’t see Trump stepping up and doing it because no president wants to put the people through that. And maybe Trump is willing because he’s now a second term guy. And but people, they that’s the problem is that when you’re in power in your political party and they’re relying on a future elections, nobody ever wants to feel that economic crunch. They always want to go through and pass it along and make short term changes that make people feel a little better.

But in the grand scheme of things it’s just a death spiral. So I don’t think he’ll do that. I think I’ve always said that that’s what the I mean not that but that the US Needs to take people need to stop living outside their means, feel the pain for a bit and that they’re going to have to if you’re ever going to straighten the country out. But that’s just not a popular thing for politicians because then all of a sudden everyone’s screaming and mad and saying well what’s going on with my quality of life? And this is all your fault.

So I mean, I don’t think it’ll happen. It’s something that should have happened in the US and there should have been a reset and they should have, you know, got their house in order. But that’s just not the popular thing to do. Yeah. Although since you mentioned that I have to pull this one up. I’ve been keeping an eye on this one because Steve, you know we have that, that debt ceiling comes due on January 1st. You remember that? Yeah. Which so far, I mean I thought that would have been a great thing. I think any of these issues we’re talking about today would have been a great thing to hear the presidential candidates talk about before the election.

So we could find out if. I mean, I think you’re probably right. There may be no plan. But here, November 19th, we’re recording today and Reuters talked a little bit about it last week. But are we just going to head to another mid December? Like oh, it’s coming up. I guess we should raise that or else we’re not going to be honoring our obligations. Which I think they have the chicken and egg confused a little bit there but is coming up soon. Steve. So when we’re going to hear about the $1 trillion platinum know it again.

Is that good. Always comes up around the same time. Well, I’m, I’m minting some 1 trillion dollar silver ounces this weekend myself. Just gonna nominate my own currency or I guess I should be careful. I, I know they don’t like statements like that very much so I was just, just choking YouTube sensors. But yeah, we’ll have that coming up soon enough. Just the latest factor, adding some pressure. And Steve, one final one on some Mexico mining that wanted to get your opinion on. Did you happen to see this? Where 240 tons of Newmont concentrate was stolen by criminals who overpowered two security guards, six drivers to seal the concentrate.

Did you happen to catch that or just. I think it was something people not directly in the mining world might never have thought of, especially if they hadn’t seen this. But any thoughts you have or experience or insight you can share and what happened here. Yeah, I mean it’s unfortunate. It happens too much I guess in our industry. I mean in that case every, you know, it’s been if it’s in the trucks there’s, it’s covered under insurance. So that part of what I’ve always heard the majors talk about is, you know, don’t shoot, don’t try and defend it.

And insurance companies would tell them the same thing because they don’t want to deal with anyone dying ideally. So the guards I’m sure folded when the cartel, whoever came up to them, we’ll assume it’s a cartel coming to cartel related individuals that came to rip off the trucks and would have had someone on the inside so they knew exactly when those trucks were going to be delivered because the mining companies vary those deliveries. So it’s not you know, a set routine on a monthly basis but it’s something unfortunate. But I know from talking with CEOs of some of the big silver companies and that that they’re basically told don’t shoot, don’t get involved in those situations.

The insurance companies do not want us to have anyone lose their lives or anything and that’s left the mind. So the people that were buying it would have taken delivery on that and they’re fully covered. So it’s unfortunate. And what you’ll see is you’ll see the Mexican government typically when one of those instances happen they’ll start putting in new checkpoints, military checkpoints along those types of roads and you know, start just upping security to protect the mining companies a little bit more. Yeah. And perhaps also just speaks to some of the inherent challenges of the mining business which it’s a bit of a paradox where it’s almost like man you would think there’s so much risk in some of these projects, why even bother? Yet you don’t get the medals then there’s a lot of things on a society level that don’t happen.

So anyway, appreciate concentrate. So those guys have to figure out how to handle the concentrate too. It’s not like it’s just ready gold bullion bar at that point. So they would have to have a tie or connection somewhere to be able to process that and turn it into something else or just flip it cheaply. I guess to someone who’s willing to buy concentrate. It’s not the greatest theft either. There’s other pro steps for them in the process post. Well maybe they’ll just look for some bitcoin to simplify things next time and rather than carrying all that concentrate out of there.

Although Steve, in wrapping up perhaps you could give us an update how things are coming along at Silver Viper Minerals. Obviously the year has revolved around the financing operations but if you could give us an update on how and where that stands and perhaps anything else that is going on at the company right now. Yeah, I mean again like I normal I can’t go too much into detail because it’s you know, people are under confidentiality Agreements and everything else. But from, from the update last month, again, things are progressing along. We’ve had a couple other groups kind of get, wanting to get involved and are looking at things and also looking at options of how they would get involved on the project.

Because people see the value, they love the project. They realize this is, you know, an exceptional project in a great state with grades that are, you know, more than economic, and they see the potential for it to grow. So it’s tricky at where the share price is at and how, you know, because we see the value, know what the value of the asset is. And so it’s trying to work with these various groups and figure out exactly how we’re going to get, you know, the best deal for our shareholders with whatever we do and the way forward.

But it’s nice to see that, you know, from large companies to, you know, bankers to various other levels of the industry, people see the value in our project. They know how good the asset is. And so it’s just a question of being able to work out a deal that would be best for our shareholders. And we’re not going to, you know, sacrifice and just do a deal for the sake of doing a deal. It would have to be something that makes sense for everyone involved and will provide a bunch of value and get us back going and get this, you know, project trending towards becoming a mine, which it ultimately will be.

So excited to see how it all plays out. Definitely been keeping me very busy and I appreciate shareholders, patience on that front. And it’s coming, we’re gonna, we’ll get something done here. It’s just a question of timing and making sure it’s the right deal for everyone. And I know you just touched on that, but anything you could say in terms of the balance, where obviously you don’t want to sit idle, obviously you don’t want to rush into a bad deal, but is there anything you could add in terms of just how you balance those two, which obviously is important to the share? Yeah, absolutely.

It’s, it’s. I mean, the last thing we want to do is just sit idle. And, and unfortunately we’ve, you know, not that we’ve been fully idle, but we haven’t been drilling. So that’s something that we need to get back to doing. And, and that’s the whole point of getting a deal done here is what is the best way to go forward in trying not to dilute as, or to dilute as little as possible, Bring in people that add value. You know, if we get back To a point though where the market starts running again and the price moves up, then that is an avenue for it as well, that we could raise the capital ourselves when we get back to a more appropriate share price and just continue on.

But with where the share price is at right now and where the market’s been at that, that hasn’t been an avenue that we’re willing to do. So we’ve been looking at, like I said, we’ve been looking at possible JVs, possible mergers with cashed up vehicles and entities. There’s, there’s various things that we have access to that people seem to have interest and want to get involved with. So it’s just working through all the due diligence that takes is frustratingly slow and making sure that in the end here that we make the right choice and we, the main thing here is get back to, you know, and ramping up and not just doing a small program, getting ramped back up here and have multiple rigs turning and getting this project going, you know, where it should have been and where it should have been this whole time as far as growing and becoming, you know, one of Mexico’s next, you know, gold, silver mines.

So excited to see where it happens. But again, it’s hard. I can’t go into too much detail or say who we’re talking to or what’s going on or what deals look like or anything like that. So I appreciate investors patience, but it’s definitely something we’re aggressively working towards. All right. And I’ll mention on the contact tab if anyone’s watching and would like to get in contact with Steve, you can go up there and do so through that link. Steve, just the last one I know you’d mentioned earlier this year, there is a tax bill refund that you’re owed from the Mexican government.

And you had a group that was pursuing that has been any update or indication or anything that they’ve come back with yet? Yeah, they’ve, they, they’ve filed officially their first request after all the information they needed from us. We’re expecting we’ll see how long a response takes from the Mexican government. That first one was for, I believe it was for about two hundred and some thousand. We would get back on the first one and then they’re already working on the next one to start filing. So we’re going to monitor and see and I think with the new regime as well in Mexico that there’s a better chance of starting to get that stuff back as well.

So we’re staying tuned we haven’t got a first one back yet, but I, I was just talking with our accounting team about this, this last week. So they are following up and, and we have seen that the paperwork by that outside group that’s doing it on our behalf has been filed and they’ve confirmed that it’s been filed and then they basically said be ready, they may come back and ask for all this additional information from us. And we’ve got that already. So hopefully we’ll get an answer on that. And again, if we, if we get all of that back, that’s an avenue for us to start a small program as well, which would be, you know, obviously a good thing for company and group and getting it going regardless of a deal that we might be working on on the side.

So. So yeah, your agent feels comfortable that while the timing is unknown that it is progressing forward and there’s nothing to indicate that that money wouldn’t be coming back at some point. 1% and they don’t. The way that the agreement works with the parties that act on the mining companies behalf of Mexico is they don’t make anything unless there’s money coming back. So, so they’re, they’re doing a lot of work and effort into the, into the mix with confidence that they’re going to make their money back when this money starts coming in. Because if it doesn’t, they’ve done a lot of work and aren’t going to get, they don’t get paid anything.

So we’ll wait and see. But I think they’re, they’re involved and they’re doing all this work because they’re confident that it’s going to start coming back in. Okay. And maybe you can talk about this publicly or not, but do they, based on their experience, do they have any internal feel for what a timeline would look like even if you can’t share that, or is it still too early for them to have a initial framework? I think because they’re new to our group, I think it varies very much company by company and what’s happening. They have said it’s easier for the producing companies to get it back.

Like it comes much quicker if you’re a company that’s in production and then a little quicker. Again if you’re a development company that’s, you know, produced, you know, something that says this is going to be a mine that’s going to be, you know, we’re applying for permits, we’ve done our feasibility. And then next would be companies like ours that have an actual viable resource that’s been signed on by a third party saying this is economic, this makes sense. And then last and the longest would be companies that don’t have a resource yet or, you know, just aren’t viable showing any sort of viable business yet.

So it could take, it could be quick. It could, I mean, it just depends on a case by case basis and how organized and everything is. And so they probably you’re looking at a couple months at least from when they filed it. But it could be quicker, it could be longer. We have to wait and see on that. Well, I appreciate that. Again, if anyone wants to check in at any point, get an update, you can go to SilverViperMinerals.com, click on the contact tab. And who knows, Steve, maybe you’ll get the deal in place and then the money will come back too and expand the size of the drill program.

But good to hear that at least that’s moving forward. And now a couple months of that clock has already expired. So we look forward to hearing how that progresses. And with that said, we’ll wrap up for today. But Steve, I appreciate you joining me as always and moving things forward. And we will look forward to seeing you next month. And maybe, maybe someone else will be talking about the debt ceiling by then. Who knows? Sounds good.
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