Silver prices hitting $100 ounce 'wouldn't be a surprise' - Vizsla Silver's Craig Parry

The silver market is 15-20% under-supplied, and there is a strong possibility of interest rate cuts and a lower dollar pushing precious metals prices higher within a year, said Craig Parry, founder and chair of Vizsla Silver (TSXV:VZLA).
Parry spoke to Kitco mid-November at the 2023 Precious Metals Summit Zurich event.
"We saw this precedent in 2008, 2009 where the dollar came off during the GFC [Global Financial Crisis] and metal prices performed extraordinarily well," Parry said. "We've got the same setup coming here, I think. I wouldn't be surprised if we see $3,000 per ounce gold by the back end of next year, but silver of course, in those markets always outperforms [gold]….so I think we're going to have an extraordinary silver market. I wouldn't be surprised if we see $100 silver in the next 18 months."
While there has been some pickup in copper production leading to by-product silver supply entering the market, he said the challenge on the supply side is not enough exploration work has been done over the past 10 years. "That's led into a lack of permitting and a lack of development so there's not much out there to come on stream."
One project that could make a difference is Vizsla Silver's Panuco silver-gold property in Sinaloa state, Mexico. The project hosts an indicated mineral resource of 104.8 million ounces silver-equivalent and 114.1 Moz AgEq inferred.
The company has raised about $65 million over the past year and still has over $30 million in the treasury. It is conserving cash by halving the number of drill rigs on site. The six remaining rigs are drilling to provide a resource update due out in the first quarter of next year.
Parry said Vizsla Silver is comparable to MAG Silver, whose Juanicipio project in next-door Zacatecas state is owned 44% by MAG Silver and 56% by Fresnillo. However, MAG Silver's market capitalization is five times greater than Vizsla Silver's $300 million.
Parry said Mexico mining veterans have commented that the land package owned by Vizsla could be the world's 10th billion-ounce silver district (five are in Mexico), and he noted the resource base is based on only 15% of the known veins, "a tiny fraction of the property."
"Watch this space. I've never been more confident of something in my life that this is a true district," he said.
Special coverage of the 2023 Precious Metals Summit Zurich is brought to you by Vizsla Copper Corp. (TSXV:VCU).
0:00 - Silver prices have been moving sideways
2:10 - Why can't silver break out?
3:35 - Secondary supplies dampening silver market?
6:26 - Incentive prices for new silver supplies
7:20 - Is Vizsla funded?
9:00 - Milestones at Vizsla over the next 12 months
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[@sliekerstar]

Nice to hear a guest acknowledge Comex paper market manipulation

[@bobsilver3983]

I have been buying silver since it was $15, silver kicks ass!

[@notgunnadoit7461]

I got in at 12 with an average of 14 so I'm pretty fucking happy :)

[@buyystocks]

@@notgunnadoit7461 I was buying at $5 my local coin shop had 100 oz bars for $475 because no one wanted them, silver eagles were $160 a roll .

[@mallorcablockchaindays]

2024 is going to be an exciting year for hard assets. Let the games begin.

[@John-wf5if]

Silverbugs sure have been toyed with over the years by these price predictions that never materialise.

[@trailguy]

If you watch the mine supply and the consumption, it’s not an if but when. People who truly watch the market don’t fret over the current price. It has to rebound at some point and the longer it takes, the stronger the rebound. It’s not emotional at all.

[@cornstar1253]

Silver moves in earth time. Like ice ages. Glacial.

[@crazyasieverwas]

Why are you worried about it ?

[@joeyf6133]

Majority of the miners are now loosing money hand over fist at $20 silver eventually it will need to go to $30-40 just to keep production rolling. Otherwise no silver, no electronics that our consumers like and no green revolution….

[@bobsilver3983]

Then sell your silver to people that know

[@averagelibertyenjoyer3217]

Price action of silver and metals in general need to be assessed from a multi decade viewpoint. 100k invested in gold in 2000 would be worth around 700k today. 100k invested in silver in 2000 would be worth around 400k today and closer to 1,000,000 in 2011. Stop looking at metals as some kind of short term moonshot investment. Its more of a set and forget type of investment. Get some, put it somewhere safe and forget about it for 20+ years. You'll probably be glad you did.

[@fedup745]

Thing is when confidence breaks down then it will probably be uncontrollable. Historically a silver dime has been a days wage.

[@stoundingresults]

So beggars in the 1920's singing "brother can you spare a dime?"are asking you for your day's work?

[@Johnny-rj6ou]

Wasn't the weight in a dime about 3g which is about $3 today? So according to your analysis silver will need to rise by about 30 times to give a daily wage of $100. Is this correct? I'm not disputing this I'm curious to know.

[@kavanobrien6547]

Living in a dream world with silver to hit 100 dollars.

[@bobsilver3983]

Better get ready to dream!

[@kenbrome4615]

Remember.....some dreams come true

[@kavanobrien6547]

@@bobsilver3983 All my dreams turn out to be nightmares.

[@POINTMANDDT]

It’ll hit a $100 someday. Around the time a hamburger cost $50

[@kavanobrien6547]

@@POINTMANDDT unfortunately people listen to these so called experts and believe the narrative. Sad really, nobody tells the truth about silver.

[@stanburman9978]

Very interesting interview. Thank you Kitco and Mr. Parry.

[@billbarney4937]

precious metals always increase in value in time based on years not in weeks or months. silver is manipulated by rothschild. but it wont matter when demand exceeds supply and metals become scarce

[@mrmc2465]

rothschild is fiddling with silver down some dark alley?

[@brianwest7344]

and your evidence Rothschild manipulation or just another closet nazi?

[@william1863]

Tired of the lies especially from Kitco.

[@ridgerunner9072]

I got diarrhea

[@raytaylor3077]

yeh right

[@iknklst]

As long as more silver exists on paper snd not physically in the vaults if those isuuing that paper, it will not change much in price. If everyone holding paper silver demanded delivery, the price of of silver would skyrocket.

[@email8262]

$250 an ounce

[@RjReactionZone]

Silver is so easy to hold long term and accumulating on the way something about holding gold or silver in your hands

[@Myscentsei]

Bold

[@RyanJohnson-pz4tb]

Interest rates are not going down anytime soon

[@artadrians]

GOLD and SILVER people, if you want to protect your asset position....!!!

[@LeeuwAdelaar-xe7hh]

Kitcooooooooo 👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏

[@lenhua1947]

wish

[@charlesdidonato5478]

Not going to happen gents! I would be really pleased with $40😅

[@youngchi3548]

Watch it go up there and you’ll be the one who’s wrong 🤷‍♀️

[@thevanman4498]

Needs to hit $100+ just to keep pace with inflation, all the PMs are undervalued.

[@glenh4971]

If we see 40 dollar silver I sell it all. I would not look back.

[@drmodestoesq]

Yup. Tons of people bought into the pumper hype. And when they hit the break even point and can bail without a loss....they're going to head for the exits and dump tonnes and tonnes of silver on the market. @@glenh4971

[@TacoTuesday4]

@@youngchi3548😂 like that will happen.

[@rudeawakening3833]

So this executive has projects in Mexico only ???

[@frankabler]

Mexico is all you need. That's where all the silver is located.

[@rudeawakening3833]

@@frankabler Yeah - ok . You must be “ new “ here … Go ask Kieth Newmeyer or any other mining CEO that’s gotten shafted in Mexico lately …

[@gabrielgaidos7015]

Vizsla 🦮 😂

[@jeffmcgrath1388]

$100 unlikely in our lifetime

[@stoundingresults]

Argentinian like inflation hitting USA will cause $100 oz

[@bobsilver3983]

I can see it going to thousands per ounce in the next 10 years.

[@jeffmcgrath1388]

Your dreaming

[@kevinspence5093]

23 bucks more like

[@stoundingresults]

As of Today Monday 27 it closed $24.63

[@ricknelson2214]

Been hearing this song and dance since the 70s ,it won't go to 100 unless they get rid of the j 000. Manipulation

[@trailerparkcryptoking5213]

To the moon...blah blah blah! Ask jamie demon when the price is going up....he controls it! How come these silver podcasters never ask demon?

[@TacoTuesday4]

This never happens despite all these crazy silver bugs saying it will. Buy Bitcoin if you actually want a 4x on your current investment.

[@johannaufreisen199]

you make a hole in the earth , promesing big value there , 25 jears later the same guy sit on the hole but this time the high silverprice make the value in the hole . beliver pay, guy rich ,good live . litle bla bla .

[@Indytelevision]

It’s not unrealistic you have trust breaking down you could see hard assets backing ｃｂｄｃ

[@wesmckenna8287]

Listening to mining ceos about silver prices. Waste of time

[@TakaluKevin]

lol.. so $100 for silver eh? When people start talking like that... SELL SELL.. and run.