In a recent interview conducted by David Lin at the Vancouver Resource Investment Conference 2025, Gary Thompson, CEO of Silver 47, offered a bullish outlook on the silver market, predicting a potential surge in prices. Thompson, a veteran of the precious metals industry, highlighted the growing industrial demand for silver, exceeding the historical correlation with gold.
"There's never been this amount of demand for industrial purposes," Thompson stated, citing increased usage in solar, AI, and battery technology. This burgeoning industrial demand, coupled with potential supply constraints, is expected to drive silver prices significantly higher.
The interview delved into the ongoing consolidation trend within the mining sector, with Thompson emphasizing the need for junior miners to merge to gain scale and attract capital. "I think the M&A theme continuing to move will help actually generate more interest in the space," he explained. This consolidation, he believes, will lead to a more streamlined industry with increased efficiency.
Thompson also shed light on Silver 47's promising project in Alaska. He highlighted the supportive jurisdiction, impressive early-stage results, and the company's plan for aggressive drilling to expand its resource base. "Our mission is to focus in on the precious metal part of the system," Thompson stated, emphasizing the project's potential for significant resource growth.
Challenges and Opportunities
The interview acknowledged the challenges faced by junior mining companies, including lengthy permitting times and capital constraints. However, Thompson emphasized the thrill of discovery and the immense satisfaction of creating economic value from seemingly ordinary land. "It's the art of Discovery," he stated, "taking something from nothing... and creating something exciting and something that contributes to you know our economic Society really."
A Bullish Outlook for Silver
Thompson expressed confidence in silver's long-term prospects, predicting a potential surge in prices. "I think silver is going to do another run for 45 perhaps," he said, adding, "I'm moving into the triple-digit Camp just simply because the uses for Silver are remarkable." He believes that the increasing industrial demand, coupled with limited supply, will inevitably push silver prices to new heights.
Watch the full interview:
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