➡ The price of silver is expected to rise, potentially reaching $50 per ounce, due to changes in fiscal policy. This prediction is based on the observation that silver prices have been steadily increasing and are likely to surge further when the government implements measures to stimulate the economy. The discussion also touched on the impact of tariffs and inflation, with some skepticism about the predicted negative effects not materializing as expected.
➡ The podcast discusses the current state of various commodities, including oil, agriculture, and copper. It highlights the rising prices in oil and livestock, while corn prices are decreasing due to surplus. The discussion also touches on the copper market, noting an increase in U.S. copper stocks and the potential for new technologies to impact supply and demand. Lastly, it mentions the possibility of inflation and price hikes in the retail sector.
➡ The silver market is currently facing a deficit, but increased mining technology could potentially boost production. However, there’s not much innovation in silver recovery. Silver is often a byproduct of other mining operations, especially gold and copper projects. The future of silver production also depends on mining policies in countries like Mexico and the price of silver, which could influence the launch of new projects.
➡ Sprott’s Physical Uranium Trust recently announced a $200 million financing deal, causing the spot price of uranium to increase. This has led to a renewed interest in clean energy, specifically nuclear energy and the uranium market. The speaker is optimistic about US mining processing companies and believes that small producers with growth potential, developers, and exploration equities in favorable jurisdictions with good management are the best opportunities. The speaker also mentions the launch of Clear Commodity Network, a platform for commodity-specific content.

Silver is going to have another leg up and that’s probably potentially where we start seeing that $50 per ounce. I’m, you know, that’s just kind of how I’m, how I look at this right now. And this specifically in the silver market, it was only a matter of time it was going to break out. But I think that bigger move happens on the back of fiscal policy. Well, hello there my friends. Chris Marcus here with you for Arcadia Economics with my dear friend Trevor hall from the land of Denver, Dave. And also Trevor who has the mining stock daily as well as a new site, Clear Commodity Network.

And Trevor digging into the mining world. So a lot of questions that we talk about here in Silverland from time to time that we’ll get the mining perspective on as well as some of the other intriguing events that are happening in today’s financial world. Trevor, not been a boring year as I know you talk about often and welcome on in. How are you my friend? I’m doing great, thanks for asking. It’s good to see you. It’s been a long time. Always fun having these conversations with you, Chris. And you always ask me questions that I’m sometimes ill prepared to answer because you go into such niche areas of specific markets that I should be asking you the questions most times.

But it’s a pleasure to be on. Well, yeah. And be prepared. I got a curveball, am I not? We’ll find out. Although like you said, has been far too long. Was nice to see you in person with our dear friends Carlos from Fortuna and also Denver, Dave Kransler last fall. And Trevor, I could not, could not avoid this. I tried, but it’s a Monday morning and I do need to vent a little bit in case I break down during today’s episode. I am still digesting the last night’s stunner of sending our best player on the Red Sox away.

Not saying this is Babe Ruth territory yet, but either case, like we said, a lot happening and we’re going to dig into the mining side as well. Although I think this, I don’t recall the exact last time that we recorded one of these, but I mean the gold price has gone up a lot since then. And you know, again we’re now a year and a half into this rally that really began for the gold price back in January of last year. Silver was a month later. But here we see silver up at 3645 and perhaps we could start there.

Any observations or thoughts you’ve had on what we’ve seen which in My opinion is really historic at this point from the past year and a half. But what would you say to that? No, I think silver’s got a lot of momentum behind it. It was only a matter of time right now, like when it comes to the fundamentals of the silver, like I’m not, I’m not your guy. You, Chris, you are much better seasoned at that than I am. What I’m following in the silver market, obviously the price action, I’m watching charts and then I’m also obviously watching what the silver miners or developers or explorers are doing within their markets.

And you know, we spent so much time with, you know, silver just kind of trading in a range. You know, it tried to jump up a little bit, you know, earlier this spring and quickly got hammered back down. I think that wasn’t like in early April and, but since then, slowly been grinding its way higher and through May it just like traded sideways. And while gold was continuing to rise high towards that $3,500 an ounce level, silver was just flat. And a lot of people were like, well, why, you know, why isn’t silver moving? Why isn’t silver actually moving with gold? And actually through the conversations I had with a lot of people on mining stock daily and a lot of technical, a lot of technical analysis gurus, you know what, what I came to find out and understand the consensus was silver actually isn’t going to have its big move until after the official quantitative easing money printer.

You know, that type of stuff stimulus really hits the tape. And so we’ve seen this. What I, what I kind of, when I saw this breakout to where we’re at $36 now, what I kind of seasoned that to be as more of a technical breakout. It was only a matter of time because silver was trading sideways. There was a lot of, you know, distribution going on there. And then I knew it was just going to be a matter of time where it finally breaks out and there we go, it run like around like a buck fifty on that day and the final break and we’re starting to see some more momentum there.

What’s interesting is that obviously we haven’t had the official, you know, interest rate cutting money printer go blur or anything like that. But when that does happen, when, when things really, you know, take a, take a spill in, the reaction by the Federal Reserve and the administration is to make things as simple and easy as possible to stimulate, silver is going to have another leg up. And that’s probably potentially where we start seeing that $50 per ounce. That’s Just kind of how I’m, how I look at this right now and specifically in the silver market, it was only a matter of time, it was going to break out.

But I think that bigger move happens on the back of fiscal policy. Well, I think that makes a lot of sense. And fortunately for anyone watching at home who’s invested in gold and silver, it doesn’t seem like we’re likely going to have to wait all that long for it, especially because here was Jerome Powell a couple weeks ago. I’m surprised I haven’t seen more people talking about this. But in this Reuters article talks about a speech where I’ll show you in a second, he basically says, watch out, the 2% inflation mandate, which by the way was never recognized as a mandate by Greenspan or Volcker, but telegraphing we may be raising that.

He also says here, given the inflation experience in the last few years and the possibility that supply shocks and associated price increases may become more frequent in the years ahead, Jerome Powell said we may be entering a period of more frequent and potentially more persistent supply shocks, a difficult challenge for the economy and for the central bank. Trevor, obviously we, we’ve seen the whole thing with the tariffs. I know there is some who say, like, hey, this is going great, although at least from my vantage point, it seems like you’ve had a lot of disruption. I continue to hear shipping executives warn about empty shelves this summer.

And so we’re not seeing it. We’re not seeing it though, right? Like, I don’t know, like where, you know, where you’re at. I’m, I’m not seeing empty shelves. And I went into this, you know, two months ago after, you know, Liberation Day. You know, I’m, I’m highly skeptical of the, of the tariff regime right now. Like, I’m, you know, I don’t, I don’t think of it as much of an opportunity as is. I think there’s going to be challenges. But like I went into it thinking or understanding, like come July we’re going to see some empty shelves.

Well, here we are, we’re two weeks from July, Chris, and like, I’m not necessarily seeing anything that is a red flag. And so maybe that kind of pessimism that, you know, I have to check within myself is getting challenged right now. I, you know, with the inflation data, you know, and I was also with the, with the tariffs. I expected this to be highly inflationary and I, you know, I’m not seeing it on the COVID I’m not seeing it as well. And so maybe I’M putting to the challenge with that internal debate myself. In fact, the more I’m kind of looking at this with the tariffs, with just kind of the hyper sensitized of everything going on in the world, the volatility, I’m kind of starting to wonder if just the demand for things is starting to decrease and that is actually causing things to be more disinflationary.

So I don’t have the answers. Right. I’m not saying it’s going to be one or the other. I’m just saying, you know, I’ve, I came into this early April with an idea. I was very pessimistic and kind of, you know, think it was going to be the worst of worse. I thought the rollout was completely insane by the way. I think everybody agrees on that. But the reaction like I’ve had, I’ve, it did not go smoothly. Right. But I, I’ve had to check that pessimism of mine at the door right now and to be honest with you, I, I think maybe that’s a good thing, you know, that we’re not facing empty shelves, that you know, we’re not seeing double digit inflation.

So maybe it’s going to have the opposite reaction than I expected. Well, some host of fantastic things you said there and I’ll certainly agree. I think it’s great that you’re saying well I thought this and then checking haven’t seen it yet and think that’s if I may be as so bold to brag on your behalf for a moment here. I think that type of thinking and analysis is what one of the things that makes your mining Stock daily podcast a great service. Now some guesses. Now first of all, I’ll be happy to admit we’ll sit here and watch.

We’ll see if it develops. I’m basing what I’m seeing by reading other analysts and listening to shipping executives. Now I think one thing that has factored in I’ve heard a lot of companies pre stocked inventory ahead of this and we’re still going through that phase is what I would understand us to be at right now. Although Trevor, you mentioned something else in there that I did want to touch on here or whether we’re seeing inflation or not. And certainly we found out there’s someone that everybody knows who says there’s no inflation. Here’s Trump. Last week calling Powell a loser wasn’t enough.

Now he’s an unscal, which I’m not a fan of Powell or the Fed myself. I don’t know if this is the best look for the country. But in here he talked about how at one point he says there’s no inflation. And I guess what I found surprising about that is that you look at, I had them pulled up somewhere here. But if we, if we went through all of the inflation metrics, they are even with the government numbers, they’re above the 2% mandate. And that’s even before we’ve had retailers like Walmart saying price hikes are coming.

So yeah, the other thing I wanted to add in there and let me pull this chart back up and then you can give me your comment. I think a big part of the reason why the inflation numbers look like they’re lower right now is because we’ve seen the oil market come down 20 bucks February, okay. Unless it’s going to go, unless oils go into 40 and it’s already just here in May went back up to 72. So I’m guessing that next couple months we see even those numbers come in higher. But anyway, any thoughts on any of that before we turn it over to the mining sector? Well, I think you are starting to see inflation or price, price increases inflate on the commodity side.

Right? You started to see it in oil. Obviously this move wasn’t just on back of the 7% move in WTI on Friday based on what happened and Iran this, that move started at like $60 a barrel, just north of $60 a barrel and that was basically the bottom. So you have the oil market now we also publish a multitude of other commodity specific content. And one of the markets that we are starting to watch, although not dabble or participate in, just being more of an observation is the agriculture market. And since we started publishing a new podcast called the Commodity Compass, you know, everybody should subscribe.

We started following what’s happening in grains and, and livestock. And this is really interest because what we have found out is that cattle prices, they’re at an all time high. Two weeks ago they started to come down here. They maybe have reached their peak. A lot of analysts are kind of wondering if that was the top. But continue they’re going to stay elevated. We’re starting to see big moves in pork and lean hogs and those prices have come up and usually when beef prices come up, people are finding substitutes. That’s when they’ll turn to chicken and pork.

And pork has been absolutely cheap. Like you know, we’ to the supermarket Chris and we could get buy one pork butt, get a second one free. You know, that’s how cheap it was. But those prices are starting to come up. In fact, if you look at the chart, it looks like a potential breakout from some resistance here. And we’re also in that seasonality. A lot of people such as myself spending some time at the barbecue, doing grill outs. We’ll do the ribs, we’ll do the pork butt, all those things. So the demand’s getting higher. There’s a seasonality with that as well.

One of the things we’re seeing disinflation in is the grains, such as corn. My understanding is that we, we are do such a great job of producing so much corn in the United States that now we have too much, we have a surplus of corn and we’re going into the planting season right now so that that supply of corn is only going to get more elevated come this fall when we start harvesting, unless there’s demand. So there’s a lot of dynamics there within the commodities markets, not just oil. It’s not, you know, just copper or gold.

I mean there’s a whole complex within the ags that’s really quite fascinating to watch right now. And you know, I think it’s worth, it’s worth paying attention to. Yeah. And along those lines perhaps. Real quick, before we jump into the miners, any particular thoughts on copper? Obviously silver investors often track copper because of some of the trading correlations. Anything that you would say to summarize the activity in copper lately, where have seen an increase this year? I, I think I’m noticing a bifurcation between warehouse stocks in Shanghai and London compared to the U.S. i think the U.S.

has been even leading into the tariffs. A lot of people, US supplies were hoarding copper as much as they can to get ahead of, to get ahead of the tariffs. And then with on and off, on and off again, tariffs or whatever the level of tariffs before, like everything was set in stone, they continued to buy. And so stocks of copper in the US have come up, lme Shanghai have come down. That’s somewhat of a dangerous predicament. So long term, copper looks very good. I think we just need to get through some of this unknown volatility here probably through the rest of this, rest of this year.

Treatment charges are low. You know, smelters are paying to get product. That’s an important note to watch. Until that changes, you know, we’ll start seeing things kind of even out. But I don’t see it happen for the next six months. Okay. And that’s interesting what you mentioned about these smelters because I did talk with his silver producer last year who was asking him if when the Shanghai premiums were elevated, if he thought someone would arb that. And he described how the Chinese smelters were kept lowering the treat concentration concentrate treatment charges because they wanted to get that metal.

So last question on copper. Is it, I’ve been reading for years that there is a structural deficit similar to silver. Is that correct and still the case? Structural deficit for sure. Long term, not enough supply for the growing demand. One of the interesting kind of ideas of, you know, the creative destruction for, for supply coming online to meet demand. Right. And so all things equal, if there’s not new technologies or new processes to mine, process, you know, you know, refine copper, then supply most likely can’t reach demand. But what we are seeing is a lot of new technologies on the processing side specifically for recovering sulfide material in large copper projects.

What once would be very expensive and you would need elevated copper prices to even come close to being economic. Now we’re seeing new technologies. You know, I’m thinking, you know, Rio Tinto’s Newton technology, I guess BHP or Glencore have something similar. There’s some independent small companies like Jetty Resources has got some sort of technology out as well. But so there’s a lot of basically on the surface of it like R and D were working on how to better process and recover sulfide material from copper product from, from copper projects. Now if there is enough there to green light projects that will obviously bring on more supply in the long run at a lower cost, higher recovery.

That’s what we want. Now how does, what if it happens, if it’s a domino effect where that happens, you know, more frequently, where there’s this exponential move for more of these projects with the sulfide material to bring on more copper. Now I don’t, I think that would be an interesting case study. Probably somebody much smarter than me, maybe a Ph student from the Colorado School of Mines or something, they’ve already done it, I don’t know, but it would be kind of interesting. It’d be kind of interesting to say, okay, if these technologies and recoveries continue to improve and become viable, how much more supply, economically viable supply can come online to meet that demand? And how does that change that curve over the next 30 years or 40 years? I think it’d be really interesting.

So there’s a little bit of creative disruption happening in the copper market right now with that and it will be one to watch. Yeah, well that’s really interesting what you’re mentioning there, especially leading into the mining sector reminds me because actually I was Writing something this morning and touching on how in silver we had, in terms of the warehouse stockpiles, 1990, there were about 2 billion ounces. That went down to about 500 million ounces by 2005. And then advances in mining technology increased production and over the next 15 years we got back to the 2 billion.

So with the current deficit in the silver market, I’ve wondered, I guess it’s possible something like that could happen again. Are you able to get any feel for what you’re saying makes sense, but the magnitude or extent do you see enough innovation that could really, we’re talking about maybe we get 5 or 10% more. Or could this be a similar change to what took place back over those 30 years ago? You know, I’m not seeing much technology on the silver recovery, actually none. I don’t think it’s as much. It’s not as dire as importance as it is in copper, just to be perfectly frank.

But with the level of silver being a byproduct of many other operations, I think the more and more projects coming online, whether in the, you know, obviously the gold space, that’s going to have a huge silver component as a byproduct and someone, I would say, like, maybe even if they’re a gold project, they should be a silver project. There’s a lot of projects and you know, big porphyry projects. Silver is usually a pretty big component of that. And then these VMs polymetallic type of projects are continued to move forward. And so the more mines you do bring online, the more likelihood is you’ll be providing more silver supply into the market.

It’s just not going to be the primary case of what those projects are. They’re most likely going to be either a gold project or a copper project, I guess, but silver is going to be a byproduct with the exception. I mean, you’ve got a lot of projects in Mexico. Like we’re still waiting eagerly to get some sort of clarification of kind of the mining policies out of Mexico under the Sheinbaum administration. But my contacts and my conversations, you can hear them on mining stock daily that a lot of people are hearing that things look fairly positive for, for mining in Mexico and that, you know, they had a lot of people scared, you know, scared stiff during the AMLO AMLO days.

But it seems like things are looking pretty good. We’re waiting for that big, you know, greenfield mine. Go ahead permit, but things, the momentum seems pretty good. Okay, and thank you for that update on Mexico because obviously I know a lot of people have been concerned and good to see at least heading hopefully in a positive direction. Trevor, here’s the next one I got for you that, you know, we can discuss in general terms. No exact answer, but if we look at the silver deficit, it’s been about 150, 200 million ounces the last couple of years.

Here we look at the top 20 silver mining companies. Many of these are the copper and gold and byproduct producers. Yet in either case, when we get down here to the end of the 20 list of 20, we’re already under 10 million an ounce. So what I’m wondering is that let’s say that we had the silver price somewhere between $50 and $60. And however it occurred, people with capital and mining executives are in the mindset where, okay, this is the price. We’re not worried it’s going to go back down to 40. We’ll put stuff in action.

Can you venture even any parameters on, you know, if we had the 60 silver price, how much is there that can be turned on? I mean, are we talking about. All right, well, the higher silver price, we have, you know, a couple projects here. They’re going to turn out 20 million ounces a year each. We’ll leave aside the time lag for now, which is obviously relevant, but anything you could say about that to give just any general context for people who would wonder about that? Well, I think it has to be context, right? Like if you’re looking at pure, pure silver producers or, or projects that are just pure play silver projects, you can probably rest assure, like, you know, those numbers are going to look pretty good.

Now if it’s, you know, a precious metals mix between gold and silver, I mean, you have to put it in relation to what the price of gold’s doing. So if, if silver’s running 60 bucks an ounce, like, that’d be great. But what’s gold doing? You know, can we like, you know, is that gold ratio still going to be in the upper mid-90s? You know, that means gold would go higher with the $60 silver. Or is that ratio coming down where $60 silver means a lower price in gold, which is maybe, you know, not as improved margins as we’d once hoped.

So you got to put some context on there. Obviously, if it’s a pure silver play, I mean, that looks great. I mean, I’m thinking like things that kind of caught my eye, that, you know, core mining, that obviously would look pretty good. I’m actually that kghm, which is really quite interesting. They sold a bunch of projects to a company out of Sudbury called Magna Mining. They’re a client of mine. I own shares in the company. But this is some real, real interesting polymetallic projects that they brought on one’s producing one, they’re doing drilling that potentially they will bring back online.

So what happens is this is a precious metal. So gold and silver, plus they have PGMs within this, within these projects. And then you can capitalize, you know, platinum, palladium as well. We’re seeing those move higher. So obviously those margins look good. The copper looks good in this. You know, if silver continues to move, you can probably start putting that in your calculations as well. So I, you know, I think it comes down to what, you know, the relationship of the matrix of the metal within certain projects. Before you can just say, all right, chips, all on the table is $60 silver.

Yeah. And another great point you mentioned in there is that you’re talking about the. You didn’t say this exactly, but these byproduct miners, which is, I believe was up to 72% last year mining supply, that was just over 800 million. So most of this is companies that if silver goes to 60, they’re not going to change what they’re doing. So if you have 200 million ounces or so coming from primary miners, they could do things, new projects could do things. Although seems like if the deficit stays around 150, 200 million ounces, that’s a lot to pick up, especially if you do factor in the time lag.

And Trevor, I guess the key thing there is have you started to see signs of money coming back into the mining space? We’ve had Jorge from Fortuna, fourth generation miner. He’s been saying multiple times this has been the most severe bear market in his career. Has. Have you seen signs that money has started to return to the market yet? I’m seeing signs that family funds institutions are starting to come back. Obviously the retail is not there yet. I’m pretty sure the only retail money coming into the market are from my friends and family that I’ve convinced that now’s the time.

And I don’t have many friends, so it’s not a whole lot. Chris. No, I, and I asked this question a lot with my guests because, you know, a lot of these companies have to market often, so they’re traveling, sitting in on these meetings, meeting new people, pitching their stories. And my understanding is that some of the family, family offices that have, are familiar with the sector, maybe just see the opportunity in front of Them have either started to deploy capital or are looking to deploy capital now. Does that mean every single family office is like jumping in feet first? Absolutely not.

But you got to start somewhere. I do think it’s going to, it’s got to be some sort of monetary fiscal change under the administration that makes, that really weakens the dollar and puts like lights the fire under all commodities, specifically precious metals. So watch for that or is going to take a severe equity market correction. And with the hyper financialization that is required to keep the United States afloat finance economically, I don’t necessarily see that happening. Like if it does happen, it’d be pretty quick because the Federal Reserve and the administration and Congress would come, you know, you know, try to, to save the jobs as quickly as possible.

So I think they’re going to save them with green energy programs which will, even so, even if you get that, that dip and decline. Seriously though, maybe Trump will be a little bit different because he’s not the pro solar guy. But I have thought about that where it’s like, all right, even if the economy weakens and the government started pumping money in, at least some of them you would imagine would be going green. Right. Well, but you know what? He, so he may not be the green energy guy, but he is. I mean these executive orders with nuclear energy have been very powerful.

I mean just today so last, I mean I, I think the uranium mark is one that, I mean that’s very timely. After, after these executive orders we saw equities get a big boom and the uranium side spot was basically flat. You know, the uranium spot price was flat through this went down, which is kind of insane. But last night Sprott’s Physical uranium trust announced 100 million dollar bot deal financing and then doubled it this morning. So they’re talking $200 million in a bought deal. And the spot price of uranium jumped five bucks. The equities are up.

You know, some of them are up from 3 to 8% a little bit. You know, some of them are off their highs from today. But there is renewed urgency and clean baseload energy that only the nuclear energy and uranium market can provide. So this is one, this is going to be really, really fun to watch here. This is a long term hold and trade for me. I’m focused and I’ve deployed money in a, specifically a US company that produces critical minerals and will be looking to produce uranium here real soon. So like I’m very bullish US mining processing companies because I think we’re like starting to see some win to our sales.

I’m just wondering where did Trevor go? It’s like now I’m talking to like the guy that Bloomberg calls when there’s something going on in the uranium market. Sounded great. And I might add another reason why I will be excited to start using the Clear Commodity network so that yeah the whole uranium obviously interesting supply demand profile there as well. And Trevor, I’m assuming you’ll be keeping people posted on policy and I see here two days ago you had an update so uranium you got covered on clear commodity.net Yep, yep, that’s Justin Hume. We publish a Clear Comm specific uranium podcast called Going Nuclear.

Okay. I like it. Yeah, I don’t know how that phrase will be used be getting used in a couple of years from now but we’ll leave that aside. One last one for you here first just as you were mentioning money coming in or what we’re seeing here we can see since let’s call this February. This is the silver ETFs 100 million ounces have gone in over the past four months. This is separate from the metal that has gone to the comex. So at least one indication of institutional demand and yeah then the last one I wanted to ask you, you know we’ve heard my our dear friend Dave Kranzler comes on here from time to time and many others talking about how even with the rising bullion prices the gold and silver miners are still really undervalued.

Which again I will defer to you on that and would love to get your opinion because here if we look this is the we’ll leave the GDX aside today but here is the is the SIL. It’s at 31 a year ago so what do you call that 60, 70% move and here in the SILJ similar picture. I mean even here it’s up 50% in this year so we have seen movement. Again, I’m not asking you to give license financial advice. That is not what we’re doing here. But just in your opinion if you hear someone say the mining stocks are severely undervalued to bullion, would you agree or disagree with that? I well putting on a amateur analyst hat I have a hard time saying that precious metals producers are undervalued.

Okay. I don’t because they’ve had such a huge run up. They I mean they’ve done really really well and people are going to hate me saying that but I’m just as far as much as these things are hated. I think as of right now you’re going to have to see bigger moves in gold and silver to really get these things going again. I mean it’s almost like a one to one movie. Actually it’s not even one to one because when gold’s down 10 bucks, you know, or 5%, then the miners are down 10 to 15%, you know, so they outpace the downward move.

Now you, the better question I think is where do you see the best opportunity and where we’re at in the cycle? I think a lot of the best opportunities are in small producers with growth potential, developers and some high class exploration equities focused on favorable jurisdictions with good management. We could be in the worst of the bear market here, Chris, that we were in not too long ago, you know, maybe 18 months ago, I guess you could say. And my answer would probably be the same. I’d still say day. That’s probably some of the best opportunities because we didn’t expect gold to run to 3, $500 and.

But if you have good projects, catalysts on the forefront, good management, favorable jurisdiction, like that’s going to be a good place to be. And I think that is still the case and maybe even a stronger case now with this move in the metals we’ve had. So yeah, I just think that’s where the best opportunities are and that’s why I say like US project, US and Canadian projects, I think those are a good bet. You want some clarification on Mexico once that hits the tape? And I think it’s going to be positive. I think Mexico’s back in a favorable spot.

I’ve done real, I’ve done some pretty good stuff in parts of Africa, favorable jurisdictions in Africa, favorable countries and then. But yeah, I, you know, some of the US stuff is just kind of, I didn’t expect it to happen so quickly, but I think there’s a lot of, a lot of positive things happening on the permitting side that’s going to make projects easier to get started for management. Well, what can I say except it’s like you just threw a perfect game here in covering the economics and giving a great, really fantastic overview of what, what is happening on the mining side.

So I very much appreciate that, my dear friend. And perhaps just before we wrap up, first of all, I will not throw you my cocoa market curveball today. It wasn’t a curveball, but I’m, I’m still going to be handing you for someone to get someone on there to talk about Coco one of these days. But fortunately you have everything else covered and could you just Let folks know what they can find on both of the sites. Again. Yeah. Okay. So here@clearcommodity.net this is the amalgamation of multiple commodity specific content providers. About half of everything on there is produced in house by Clear Commodity Network.

That’s myself and my team. Corey Fleck from KE Report and then the Ted DeMattis from Junior Mining Network and then our good friend Carla Peters. We are the four that kind of put this all together and we’re really trying to launch this and grow it, you know, one day, one user at a time. So Chris, welcome to the network. You’re our favorite right now. Get all your friends, send it to your parents, all that fun stuff. On top of that, we do have mining stock daily. That’s my bread and butter. About eight years in the running following the mining and exploration market, focused on what’s going to move equities, move those metals markets and you know, that’s the bread and butter of what I do.

Yeah. And certainly for people who are getting into the mining stocks which, you know, gold and silver is its own animal and then the mining stocks, I’m always mind boggled when I hear you or Kranzler talk about the different stocks that you are quite well versed in. And here I see you got note on Fortuna’s deal in a Wally Resources and plenty more. So you know what was funny about that is the last time I talked to Jorge, I asked him, I was like, okay, if you’re looking for new projects when instead of actually acquiring companies, when are you going to go and start taking like strategic investments? And you know, he was a little bit politically correct when he answered me.

But the, the proof was in the pudding shortly thereafter with that Hawali deal. Yeah, well, I will look forward to listening to this one when we wrap up here. I’ll also put the link to this in the description field below as obviously we have a handful of Fortuna fans in our crowd and I think also now a lot of Trevor hall fans in our crowd of which I’m certainly one. And Trevor, great to see you again. Are you going to be at the Sprott show next month? I’ll be there always. Cool. Well, we’ll, I’ll look forward to seeing you there and catching up in person.

And thanks again for making some time today and everything you shared here. Yeah, thanks Chris. Appreciate it. It’s.
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