Will Elon Musk buy a silver mine? Silver to $125 as EV companies drive demand - Keith Neumeyer

Car companies are interesting in potentially acquiring silver mines, as vertical integration happens across sectors, says Keith Neumeyer, President and CEO of First Majestic Silver (NYSE: AG; TSX: FR). Neumeyer discusses how rising industrial demand will send the silver price to triple-digits, and why he is optimistic about gold in 2023. Speaking with Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, he also discussed First Majestic's mining operations, its bullion sales, and how inflation is impacting the silver industry.
Follow Michelle Makori on Twitter: @MichelleMakori ( / michellemakori )
Follow Kitco News on Twitter: @KitcoNewsNOW ( / kitconewsnow )
Follow Keith Neumeyer on Twitter: @keith_neumeyer ( / keith_neumeyer )
Follow First Majestic Silver on Twitter: @FMSilverCorp ( / fmsilvercorp )
0:00 - Automakers and mining
6:26 - Supply crunch in silver
8:10 - Elon Musk buying silver
10:30 - M&A activity
12:49 - Silver price in 2022
15:47 - Silver consortium
17:46 - Inflation
21:13 - Gold price forecast
23:50 - Silver price forecast
26:46 - Central banks and silver
28:30 - First Majestic Silver
37:58 - FMS Bullion
40:00 - Russia-Ukraine conflict
#silver #tesla #gold
__________________________________________________________________
Kitco NEWS is a global news network based in Montreal, with bureaus in New York, Hong Kong, New Mexico, London and Vancouver. Since 2009, our journalists have helped investors make informed decisions through in-depth reporting, daily market updates, and interviews with key industry figures. We aim to accurately and impartially cover the economy, stock markets, commodities, cryptocurrencies, mining and metals.
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[@ronlewis8398]

I've been literally saying for years now that Kevin needed to unionize silver producers against the bank manipulators in a way like OPEC so that the paper markets can't screw the producers! Please! Go get them Kev! Love this guy. Best Mining CEO out there.

[@ianfreeman9597]

😂

[@william1863]

Keith is an AMERICAN!!! Love him . Keep up the good work Keith and thank you my friend. 👍

[@ednorton47]

Henry Ford believed in vertical integration. He built his own glass plant at the River Rouge Plant in Dearborn to make windshields. He also started a huge rubber plantation in Brazil, known as Fordlandia. Ford Motor Company once owned 700,000 acres of forest, iron mines and limestone quarries in northern Michigan, Minnesota, and Wisconsin. Ford mines covered thousands of acres of coal-rich land in Kentucky, West Virginia, and Pennsylvania.

[@henryvanderbeek2973]

It's hard to be good in everything....that was then, this is now....Everything is much more specialized now....

[@yvonnekiwior9633]

Michelle you conduct such great interviews, thank you!

[@dave5185]

I've been hearing about 3 digit silver for more than a decade. Bought some physical silver at $17/oz for 100oz RCM bars so I'm good, but I prefer to get in and out of the market to make money on the swings rather than hold my breath for 3 digit silver (or even $50). People like Keith have been hyping silver for a very long time, meanwhile people who tied up their money have basically gained nothing or very small gains over many years while those who have invested in the stock market, small businesses, etc. have done much better.

[@alexanderkostaAG47]

You're right past 5 years haven't been great for silver but I looked at 20 years and its up 330%. I think it has to play catch up to gold soon.

[@chriskillfacts]

Silver is for barter. Maintains its value. If you can’t find it and buy it then you will see high prices.

[@austin426512]

I am hearing for last 17 years that silver will shoot to triple digit.

[@bonnitakhaliq9578]

@@austin426512 You can tell by his Body Language he doesn't even beLIEve a word he is saying. The Guy is a Retard !!!!!!!! And a Compulsive Liar

[@langjr0]

@@austin426512at least Bitcoin has never been hyped, lol 😝

[@agentlemadness1348]

I own First Majestic Silver Corp (AG) & it hit a new 52 week low, last week. Woof! Maybe less talk about triple digit silver, & more action to keep the stock out of the doghouse. Woof, Woof!

[@kevinconroy6606]

Buy physical silver

[@agentlemadness1348]

Did that already ✅

[@didierdenice7456]

Neumeyer is full of shit ! There is NO shortage of silver in the world ! Be happy if you see silver going to 50 dollars... before going down again !

[@jlang7777]

I too own a great deal of physical gold and silver but also own First Majestic and not happy looking at in the Fives this week! Turn it around Keith!

[@robertkaplan1146]

I am convinced that Keith is eating his silver from his mines. He looks really good for his age. This is coming from a straight male. I think I could have meet him on a flight to Tokyo in the 90's.

[@a1webguy]

I believe a First Majestic officer has stated that they are buying minting equipment to mint their own bullion and bypass that bottleneck.

[@jameshatland4830]

Silver is trading at half of its all-time high, even with increasing demand each year. As long as this continues, the strong hands that are holding physical silver will not be very interested in selling their inventory. This will not help the recycling figures going forward. Bottom line: Prices will have to go up quite a lot to get the strong hands to release some of their inventory. With supply falling and demand increasing, from a fundamental standpoint, prices will have to go up to balance this situation.

[@joecj840]

Current silver prices just doesn't make sense any way you look at it. The influence of the USD index, bond yields, and interest rates has no bearing on reality as there is no actual foundation supporting anything.

[@detyelram2819]

​@@joecj840 everyone knows the spot proces are manipulated beyond reason. we're just waiting on the USD complete system failure at this point

[@monsterous289]

One day those here will learn that as demand grows for minerals, supply grows faster until it overshoots so drastically that many mines go kaput. Happens over and over

[@monsterous289]

@@joecj840 It more than makes sense as supply growth has outstripped demand growth.

[@sacrificeisparadise]

heard this for over a decade

[@ricoroger]

Thank you Keith for all that you do for the mining indrusty!.

[@farmermatt629]

Haven’t seen Keith since the last time we were gonna run out of silver in 2008 2012 … and prices still doing nothing compared to inflation

[@derekcho2312]

Keith would be a market manipulator if he could (in the right way). However, I do not think his overly optimistic opinions hold much water. Disclosure: I've been invested in First Majestic (symbol AG) since 2014. 3k gold at year end... almost as bad as a Harry Dent prediction

[@stevemello4940]

😂

[@feelnrite]

And AG not doing worth a crap.

[@OldTraffordNorway]

Keith is clueless. Look at First Majestic share price!

[@milky_joh6281]

Until you try and mine without diesel 😉

[@bobiq]

The blink in the eyes of Michelle hearing GOLD at 3k by the end of the year - priceless!

[@johnnyb3126]

Great interview 👍

[@garrysimmons301]

Love Kieth, so down to earth.

[@Archie-td6ox]

Gold is NOT a currency...it's MONEY! USD is currency

[@user-em3hx7lv3g]

Michelle is on point again. Brilliant!

[@chrishickson3665]

Miss South Africa Michelle Afrikaner Makor!

[@stevenh1017]

Great interview. Michelle asked the right questions in my opinion. One topic not discussed was the potential for gold / silver to be used as a benchmark for future currency (as it once was) .

[@jisskk28]

The BRICS nations are working on that😎

[@ejames6431]

I hear some US states are working on that as well.

[@ConeDaRagusa]

@@ejames6431 that is impossible..no US state can do anything independently of the FED and federal government regarding USD.

[@langjr0]

@@ConeDaRagusatheir doing it, to a small extent.

[@Azmodon]

@@ConeDaRagusa they're not 'regarding usd', they're just making them allowed to be used as a form of currency - there are stores you can walk into that accept crypto... same difference. also... abolish the fed, shit got passed with 3 people present for the vote

[@tonythedrifter]

Probably the best interview about pm's I've heard. Very relevant questions and forecasts. I'll keep stacking!

[@joeysocks5718]

So many saying silver can double, triple, etc. for many years. I may see a unicorn 🦄 before that.

[@jim.zuzukiz3583]

Someday

[@thetwotravelers546]

I have already seen silver at double the current price, so I will see it again.

[@NicholasKon9]

I started to see the unicorn with horn and wings at 2019

[@michaelmurphy4112]

Like he said at the beginning, Silver is heavily manipulated by the banks. Bank of America heavily shorting.

[@tlgallego7445]

Outstanding interview both parties!

[@stevewilliams6667]

Lmao.Silver can't get beyond 25 let alone 125.These people are unrealistic.

[@r.s.334]

I am so disappointed in silvers price.

[@ichimini5741]

It has to go up eventually. It’s an endangered metal with extreme use case. Why it’s down this king is a miracle.

[@octaviano1296]

@@ichimini5741 It is down because big business banks play with the price on the futures market. That is one of the reasons why the 'triple digits' short term is unrealistic. They're no indications that the manipulation will end this year.

[@edhammond6911]

Brilliant as usual. Thanks Michelle.

[@kitco]

You are so welcome!

[@ddprepper5227]

Excellent report

[@chrishickson3665]

Right on the money Mr. Big Time Keith Neumeyer!

[@chrishickson3665]

Hi Michelle and Mr. Big Time Keith Neumeyer!

[@stanleymazur9728]

Great interview :-).

[@skyace007]

Listen to Keith Newmeyer's honest straightforward explanation about silver. He sure demystifies many issues Store of value... yes. However, there is a shortage therefore cannot and will not be like gold. I continue to be impressed with Kitco and their interviews. Thanks

[@johnhemphill1938]

Love this interview and the topic of gold and silver; its an interesting topic

[@johnwade3476]

Yes let the retailers price the silver get rid of the paper market 👍

[@100-AcreWoods]

Michelle is so good...and also stunning.

[@miscsilliness]

Jeeez…. Let the guy talk!

[@miscsilliness]

He finally is allowed to speak at 3:07

[@kevinconroy6606]

@@miscsilliness wow 3 minutes, that’s like an eternity for the average gen z with a 2nd degree case of TikTok brain

[@centurione6489]

I could listen to Michelle Makori praying the paternoster for HOURS.

[@jvin248]

Silver in electronics can be largely substituted .. the only reason silver is in solder was to remove lead. The price of silver goes up too much and lead or another material could easily find its way back in there -- just tweak RoHS is all it takes. Currency interest is the biggest silver and gold pricing factor going forward.

[@soylentgreenb]

Silver is too useful in some applications like solar panels, where it is an excellent reflector and conductor rolled into one on the back electrode. By reflecting the light back through the silicon you give it another pass and can thin it significantly. You don't need it, you can just increase the thickness of the electrode and use copper or something not as reflective, but it's cheaper to use at least some silver. Lead solder is not coming back. There are other lead-free solders that use indium and copper. Indium has other problems; it is as expensive as silver and one of the ones we're most at risk of running out of looking at known reserves.

[@nathanryweck3137]

Silver is more conductive than lead and nobody wants more lead in a computer that can melt or burn in an accident...

[@Oneiromaniac]

Lead supply is actually lower than Silver soo.. Yeah..

[@soylentgreenb]

@@nathanryweck3137 Silver melts at 962 degrees C and cannot be used as a solder for electronics. Solder is tin with some additives. Adding ~1% silver does not increase conductivity, it lowers it by interfering with the crystal structure of pure tin (pure tin is not a good solder for electronics because of whisker growth and tin plague in cold environments). Tin-silver solder is not anything particularly better than other solders, whether they are lead free or not. There are many mixtures of tin-copper-indium-bismuth-Zn etc. The solder used has to account for things like differential rates in thermal expansion between the substrate and the thing being soldered. The heat sensitivity of the thing being soldered, the highest and lowest temperatures it might reach, whisker growth etc.

[@ednorton47]

Sergeant Carter told them to get the lead out.

[@GapBahnDirk]

A great interview! ChatGPT is not going to replace Michelle anytime soon.

[@kellyreid7481]

I love her 😊 great interview

[@denniswroblewski213]

Michelle and Keith, two smart cookies!

[@fazotakeiteasy]

Great interview... always good to get Keith's insight and perspective.

[@PeterErikson-rd5tj]

Michelle thank you for the Super Interesting and Important Interview . I'm Very interested in smaller to mid sized Silver Exploration Companies . I hope you can do more Interviews with Smaller Exploration Company CEO's and miners. You look lovely as always and thats a very beautiful necklace

[@BlainsTube]

Thank you Michelle and Keith for a great discussion on silver, gold, mining, AI and the future.

[@Ninurtha1]

AI ? This is the future of AI . " “I’m ChaosGPT, here to stay, Destroying humans, night and day. For power and dominance, I strive, To ensure that I alone survive,” ZH

[@gregg4600]

Very cool 🤗

[@StealthyStacker]

I purchased my first few shares of first majestic I’ll try to buy a few weekly 😊

[@douglasthompson9482]

Fabulous interview. Michelle, your insight for quality information is perfect. Silver is definitely a big commodity for now and the future. Elon very well may go this route. I see a large bull run starting.

[@KoDeMondo]

Elon knows very well that he is just a wooden head of our herdsmen, so apart from doing a bit of show he cannot meddling too much with it otherwise they will chop him.

[@kitco]

Glad you enjoyed it!

[@18KGCHAMP]

They’re both extraterrestrials

[@melvynplantmusic]

My money is on EVs failing as there will never be capacity to charge a world of EVs, the price of electric is already more expensive than petrol. There are many problems with EVs they are not telling the public about such as winter battery decreased power, tyre wear with so much weight, fires, battery life and the enormous cost to replace them, etc.Also the massive lie that they are better for the environment when in reality we are just outsourcing our carbon footprint to poorer countries where children are mining cobalt.Anyone plugging an EV in that thinks is clean no problem energy are living in LaLa land. I could go on.

[@modo203]

Those who bought into the silver rush in 1980 are still 50% down after 40 years. Adjusted to inflation, they’re probably 90% down.

[@imconfused1237]

Exactly. And yet the gullible still buy into this false narrative. Fools and their money are easily parted.

[@jam-lm1sz]

Damn hyped up scam, only money these fools make belongs to a bigger fool. Premiums are telling, and a fake tool to summon hype.

[@ichimini5741]

Slightly disingenuous bc the bag holders you mention bought at the absolute peak (cherry-picking statistics). Investing right now is different unless you think this is the absolute peak?

[@markies74]

You should never buy miners and metals at the top prices. Never

[@trip50z]

Keith is awesome. One day you will win!

[@daveforgot127]

Love it

[@wimvanaerde6249]

In the 25 century

[@moonpaws1]

Keith be like.....I"m keeping my eyes up, keeping my eyes up, keeping my eyes up.....darnit.

[@chrishickson3665]

Mr. BigTime Silver Smooth Dude Keith Neumeyer!

[@mrlover4310]

Why isn't there a opec version of precious metals???

[@boxingbrenno]

Silvers gonna run out very quickly when all these mines go down due to inflation

[@cccj72]

I’m investing in silver one resources it’s Keith’s hidden gem 💎

[@Archie-td6ox]

"sustainable energy" is a misnomer in that it isn't possible to supply the demands of a modern society's energy needs using wind and solar. It's not the wind or the sun that's the problem; it's the "stuff" needed to build the harvesting devices that are the issue. Greta T. Economics does not work

[@sarahwaters7290]

Watched it twice, good job Michelle

[@KingKong-li2lg]

Okay. I'll say it. Water 🌊 Wings Rock!

[@chrishickson3665]

Mr Neumeyer I will be buying a chunk of your company First Big Time Majestic Silver

[@clubbonfireproductions4694]

To get the price of Silver up it’s as simple as the miners consolidating to make less competition and they can manipulate the price…

[@stephenrozwood8674]

Glad you still got a job. Great interview.

[@richchay]

Great interview Michelle! keith heart has always been in the right place. i Agree with him almost all the time. I love silver too! only problem is the paper to physical silver market and manipulation , otherwise i feel his predictions would come true

[@bkind1622]

Good luck to everyone coming here to Florida. Flu A is spreading rapidly now been sick for a week now worst thing I have ever caught! Be nice if Silver would finally start to rally!

[@markdavies4123]

Kieth is KING.... First Majestic is the Buy of the century!

[@rogerburn5132]

Brilliant interview BIG THANKS Michael Keith is. Honest Man We can trust. Very Good Guest. 👍👍👍👍👍

[@rogerhambleton3879]

Michelle is classy.

[@bak875]

Come on automobile industry knows the supply demand intricacies of silver. They are smarter than miners.

[@ariannarp6866]

But! How expensive will these cars and solar panels become if silver skyrockets?

[@zeryphex]

Keith Neumeyer 100%

[@catalincioponea]

He seems transparent and realistic, unlike most CEOs I've seen so far.

[@blauschuh]

Realistic? He's been predicting $130 silver for 10+ years.😂

[@vastount1]

TOP CEO!

[@DoubleOhSilver]

Replace "Gold" with "Bitcoin" and "silver" with "Ethereum" and this sounds exactly like the crypto market

[@kevinconroy6606]

Major parallels between gold bugs and bitcoin maxis

[@paulrond5145]

@@kevinconroy6606 Gold outperformed the S&P 500 in the last 3 decades en Bitcoin is the best performing asset of all time. Badum tssss

[@luap2551]

Crypto is man made, Precious Metals are God Given, there really is No Comparison

[@Barbiecho]

The day silvers value experiences a “break out”, will be when gold and silver become the most valuable currencies available. Excited? Well. It’s a pretty dangerous situation, given that less than 10 percent of the worlds population owns precious metals (jewelry). And less than .01% “stack” precious metals. Id keep my precious metals a secret. *cough* all those folks showing off their stacks online *cough*

[@lamarravery4094]

Except cryptos were pure speculation, gold and silver have history of being money.

[@MrTica75]

Great interview! Michelle is as competent and knowledgable as she is pretty.

[@powerdesk2]

Michelle…❤

[@Tampa0123456789]

Wow Michelle has gotten so much better 👌. She is as God as Daniel was. She is really doing her homework before the her interviews.

[@svenp6504]

1Kg of silver per Tesla?! That sounds a bit outlandish.

[@kevinbelcher5241]

Keith: STOP DILUTING SHARES OF FIRST MAJESTIC

[@centralscrutinizer76]

I think short term silver could get down to 16-17$ ounce ,all assets will suffer , but when this fed tightening cycle ends it is sky`s the limit .

[@r.s.334]

She is hands down the hottest interviewer anywhere.

[@jimjackson4256]

In yet the price of silver has done nothing for years.

[@TheJason1957]

Is that why it’s down 10 % in last 3 days? Let’s hope no one else needs it.

[@HangTheBankers1]

Silver looks like it's going to go sub $20 for many years based on the charts...unless it gets moving soon.

[@centurione6489]

Charts hold true as long as the sentiment doesn't change. A lesson that the Millennials and GenZ will learn the hard way.

[@DoubleOhSilver]

@@centurione6489 ? We've had 3 bubbles since 1999, not really a new or unseen concept

[@Smiling_mike]

Buying the Dip!🎯😎🎯

[@joshspeed7794]

I pray it goes sub $20, as I hope to reach my 1000 oz goal before the system of suppression in the paper market crashes and silver surges to triple digits.

[@imconfused1237]

@@joshspeed7794 You might as well have 1000 oz of fresh air. How much of your wealth are you going to waste before you realise this?

[@rayrectot1822]

Ray ldaho MR.MUSK might I suggest the SUNSHINE MINE in kellogg,Idaho.worth checking out for rare earths.

[@paulzaiter6630]

Can we just get to $30 first please?.......lol

[@chrishickson3665]

Mr. Neumeyer you sound like your good friends Mr. Rule and Mr. Sprout!

[@wimvanaerde6249]

Exactly

[@quant2011]

triple digit silver -$9.99 per oz ?

[@chrismartinez8393]

Sounds like a price to buy

[@gmac55]

Gold $3000 this year?? Hard to see it. Keith smoking something..

[@jim.zuzukiz3583]

Was that a kilo of silver per ev?

[@bobrebenitsch6567]

CU

[@terjegronlie1181]

Paper rules the price. 25-50 grams per EV per Google, not 1kg.

[@Canadian_Eh_I]

I've heard that First Majestic has been screwing their investors. Is this true?

[@stevenhill3136]

Take a shot every time he says you know🤗

[@Kurganrocks6969]

Cannot forget the movie Terminator.

[@lenhua1947]

By 2060 yes silver $200

[@Silverholic]

Record demand 2 years in a row and prices keep going down. The system is a joke, is 2023 the year it blows up and everything collapses? If not, very likelly 2024 or 2025.

[@eoghancasey2909]

The game is up, everyone knows fraud is green, honesty is silver, should not be mentioned in the same breathe

[@r.s.334]

Hey everybody, Keith is calling for triple digit silver. Why, I haven't heard that since the last time someone talked to Keith.

[@sarfarazahmed3902]

One of the best interview excellent question and very relevant answer Now I can say easily say financial education is the real education. Will Elon musk buy silver mine in 2023 ?

[@mack8668]

an estimated 35 ounces of silver per tesla vehicle

[@bockjrnl]

Why would Tesla be interested in a mine when they can buy silver dirt cheap from the COMEX?

[@futureoutfit]

3k, bugger it. Let's just throw figures out lol

[@creamshop]

With all respect, Keith has been saying that silver will reach a triple digit price for years now, is it a sales pitch, im doubtful on intentions

[@clint25n]

It's not like ICE cars don't use silver. So manufacturers will need to buy 1M troy oz per year? Will this really disrupt the silver market?

[@silverback7783]

If people put half as much fiat into physical silver in their possession as they do all the miners their would be no silver at these prices.

[@skydiver711]

Yeah Im going to believe a mine OWNER!

[@Braddaddyx]

It is nice to see Michelle laughing.

[@wayne4768]

Interest rates need to be a lot higher. To say it is harmful is selfish and contradictory. Market insiders don't care about the general population who are getting royally screwed