Shawn Khunkhun, CEO of Dolly Varden Silver, recently provided a bullish outlook for silver prices in an interview with David Lin, stating that he expects silver to "drastically outperform gold" in 2025. Khunkhun, who has a long history in the precious metals sector, believes his previous $73 price target for silver is just the beginning.
"I have numbers that far exceeded that longer term," Khunkhun stated, emphasizing his strong conviction in the silver market. He cited several factors driving his bullish sentiment, including geopolitical uncertainty, inflationary pressures, and the potential for a weaker US dollar.
"I am still wildly bullish for both gold and silver... I think gold will shine based on the uncertainty," Khunkhun said.
Khunkhun also highlighted the unique position of silver as both a monetary metal and an industrial metal, with increasing demand from sectors like solar panels, batteries, and electronics.
"I think Silver's industrial demand is only going to further enhance its price movement," he explained.
However, Khunkhun acknowledged the supply-side challenges facing the silver market. "We have a shortfall on an annual basis of about 250 million ounces a year," he noted, emphasizing the growing gap between production and demand.
"The fact that silver is lagging gold and underperforming gold or just matching Gold's performance tells me there's a lot of room to the upside," Khunkhun stated, suggesting that the current market conditions indicate that silver is in the early stages of a bull market.
Dolly Varden Silver: A Focus on High-Grade Assets
Khunkhun emphasized the importance of investing in high-quality silver assets, particularly those located in safe jurisdictions with strong exploration potential, such as Dolly Varden Silver.
"I think this is a time to stay close to home... to pay a premium for safety for certainty," he advised.
Dolly Varden Silver, a Canadian-based exploration and development company, is focused on advancing its high-grade silver and gold projects in the prolific Golden Triangle region of British Columbia. Khunkhun highlighted the company's recent exploration successes, including significant high-grade intercepts at the Wolf deposit.
"We hit over 20 meters of almost 400 grams per ton silver... the headline number was 379 grams per ton over 21 meters," Khunkhun revealed.
Dolly Varden Silver plans to continue its aggressive exploration program in 2025, with a budget of up to $2 million. Khunkhun also indicated that the company will continue to evaluate potential M&A opportunities while remaining disciplined in its approach.
"I think the lesson for me is to try to stay disciplined for looking at projects that work using a three-year trailing price average not spot number one," Khunkhun stated.
Overall, Shawn Khunkhun's insights provide a compelling outlook for the silver market, highlighting the potential for significant growth in the coming years.
Watch the full interview:
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