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🔥SILVER Investors🔥 THIS is MASSIVE! - Over 200Moz in the USA! · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

• 0:00
  I don't have a crystal ball. It's hard to say, but you know,
• 0:02
  I, I, I like that I own silver and silver stocks right now.
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  Today, I'm joined by Galen McNamara.
• 0:17
  He's the current CEO of Summa Silver and the incoming CEO of
• 0:22
  Silver 47. Summa Silver and Silver 47 will
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  soon be merging, creating a huge silver development stage
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  company. Galen, welcome to Ron's
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  basement. Hi, Ron.
• 0:36
  Great to be here. Thanks for having me back.
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  I think this is the third time I've been on your show now.
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  Yeah. And you've got some big news
• 0:43
  with this merger. We're going to dive into what's
• 0:45
  going on with this new company. But Speaking of it being the
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  third time, I think the first time we met, the price of silver
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  was maybe around $25 per oz, The second time, maybe 29 or $33 per
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  oz. And today we're talking with
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  silver around $39.00 per oz. Before we dig into this kind of
• 1:05
  exciting new company that you're going to be heading up, what do
• 1:08
  you think about the silver price?
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  Where do you think Silver's heading?
• 1:12
  Well, yeah, that's a, that's a great way to put it.
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  You know, when we started talking a couple years ago or
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  whatever it was at 25. And I mean, even today as we're
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  talking right now, there's a chance that silver goes through
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  40 or touches 40 today, right? It's been on a, it's been on a
• 1:24
  real tear just in the, in the last week.
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  So where does it, where does it go from there?
• 1:28
  I, I look at the chart going back to 2011 and beyond that.
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  And of course, a lot of people know about that big macro.
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  So that big picture zoomed out cup and handle that we had in
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  that in the silver price chart and, and really going through 38
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  really helped, you know, really helped take that out.
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  And and of course, the cup and handle is once you breakthrough
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  that, that handle after the cup, you know, that oftentimes
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  indicates that it's game on. We've started to see that we're
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  seeing it touch 40. You know, where can it go from
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  here? You know, Ron, you would know
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  this better than I do. But I mean, even if we adjust
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  the 2011 price for inflation, it's much higher than $50.
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  Now let's think about the the 1980s price with the Hunt
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  brothers, you know, pushing it to $50 ish back then.
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  What's that based on inflation? And then and then what's the
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  silver price going to be if gold continues to run and the the
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  price ratio starts to normalize a little bit and get back to
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  what you know it, it used to be which was well below 50.
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  Yeah, yeah, I. Mean it's I don't have a crystal
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  ball. It's hard to say, but you know,
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  I, I, I like that I own silver and silver stocks right now.
• 2:34
  Yeah. And you know, it feels like the
• 2:36
  wind is definitely in the sales for the silver price, you know,
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  and we don't even mention, right, this the fundamental
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  silver deficit that we've been running for the last five years
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  and that demand for silver from so many, you know, different
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  sectors just continues to increase.
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  And you know, one thing that I don't think a lot of us talk
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  about is the fact that if the Western investors come back into
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  silver, I think we've seen China, India provides some real
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  robust demand. But if we get some, some, some
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  strong demand from the Western investors as well, yeah, it's,
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  it's hard to imagine how high the silver price can go now.
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  Now you're the CEO of a silver development stage company,
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  exploration development stage. You've got millions of Oz in the
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  ground. And we're going to dive into the
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  details of what's going on with Silver 47 and Suma.
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  But it also feels like as the silver price goes higher and
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  higher, that there's going to be a lot more interest by the
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  generalist investors in the development explorations stage
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  silver companies. And it seems like, you know,
• 3:44
  it's been a bit of a ghost town, right?
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  A lot of the old mining towns are ghost towns.
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  But it does, it feels like you've positioned company to
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  really capitalize on that, that like quietly over the last, you
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  know, five years or so with Summa Silver, you were doing the
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  hard work exploring for silver. Do you feel like you've
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  positioned yourself at a little bit of a competitive advantage?
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  I, you know, I hope so. And you're talking about ghost
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  town. I mean, it feels like we're 40
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  years in the desert here, you know, in the last few years,
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  right? I mean, honestly, it's not, I'm
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  being melodramatic, but you know, as an analogy, but you
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  know, yes. And, and let's also consider
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  like the generalist investor, that point you made, I thought
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  was, was really interesting because right now the generalist
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  investor has like point X, you know, of their portfolio
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  invested in precious metals and it's way under, you know, half a
• 4:34
  percent point .5. But if that goes to 1% or 2% or
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  something like that, I, I mean, like, you know, we could be
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  looking at 10X inflows into the sector quickly because it's the
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  type of investment that like, you know, you precious metals
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  like, oh, you don't have them and then you want them and then
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  you have to have them, right? And just reallocating, going
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  from .1 or .2% of a person's portfolio to one or two.
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  It's such a small amount of a person's bigger portfolio.
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  But when you take everyone, you know, most of the generalist
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  investors and they all do it at once, like, you know, you're
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  really trying to squeeze a lot of volume through a a very small
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  space. And for us, you know, have we,
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  we have spent the time really doing exploration and now with
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  our new partners and, and this, this merger that's nearing
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  completion with Silver 47, who have done a great job of
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  acquiring a project in Alaska that has a large amount of Oz in
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  it. You know, we think that putting
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  them together, you know, really can be a 1 + 1 equals more than
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  two, hopefully 5 type of situation.
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  And, and the stock's starting to react really well.
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  And when we, when we announced this deal, Silver 47, which is
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  what the new company is gonna be, was trading around $0.55 and
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  today it's touching $1.20. So we hope we're just getting
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  started here. Yeah, we're, we're starting to
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  see more people gain interest in, in acquiring the silver
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  exploration and development stage companies.
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  I follow the sector closely. I followed Suma closely.
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  And Full disclosure, I've owned the stock for years.
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  And when I heard of this merger that you were doing with Silver
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  47 and I heard that you would be the the new CEO, I became super
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  excited because we're talking about Silver in the ground in
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  the United States, Alaska, New Mexico, Nevada.
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  Do you think that gives the company yet even another
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  advantage over over some of the other developments?
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  Yeah. And that's something we
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  concentrated on both myself and Gary, the current CEO of Silver
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  47 and who will be our executive Chairman going forward is that
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  jurisdiction is really important because you know, if there's one
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  thing I know about the United States, property rights matter.
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  And I think that's very important as you know, again,
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  going back to the generalist, but but just your average, you
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  know, investor, I just think about it myself, like I want to
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  own projects where I know that, you know, we actually own
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  something. And you know, there's other
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  places to explore in the world that are great and, and you have
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  other positives of working in other places.
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  But you know, the take away is that, you know, you might not
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  own what you think you own. So it's just be aware of those
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  risks and, and I think a lot of people want to own assets in
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  places like the United States. So that's certainly, that's
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  certainly a focus for us, but also there's this really just
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  emerging theme for investors that's been coming more and more
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  to the forefront over the last several years.
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  And and that's like we really should be getting our important
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  metals for our industrial purposes.
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  And silver is an emerging, you know, part of that from domestic
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  sources, you know, because if we start sourcing, you know, things
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  from places like the Congo, a lot of the cobalt in our cell
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  phone battery comes from there. You know, we hear these horror
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  stories about child labor and, you know, it's a dollars for
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  dictators type of situation. There's no environmental
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  standards over over there. So in effect, we're exporting
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  our pollution to the third world here in the United States.
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  We have the best environmental standards, the best Labor
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  Standards. And you know, we, that's just to
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  me ethically, you know, they're a great place to be.
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  Yeah, yeah. And we've got some great silver
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  resources here in the US. Yeah.
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  When when when the when the companies are combined the new
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  silver 47? How many ounces?
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  Like how many silver equivalent oz.
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  What will you actually have? So it's 247 million silver
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  equivalent Oz and I should, I should classify that 236 of
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  those are in the inferred category and an additional 10:50
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  are in the indicated category just for we have to make that
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  distinction for the regulator's purposes for, for the stock
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  market rules. But, but it's a large amount of
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  Oz and I think we're going to grow.
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  I think we're going to be able to step out and just I'm a
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  geologist by training. So just based on my experience,
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  you know, the deposits are open and clearly open for additional
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  growth. We think we're very undervalued
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  relative to our peers. We're worth about $0.43 per oz
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  for value in the ground right now.
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  I mean that's like 1% of the silver price, right?
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  Compare that to our peers, a lot of them are worth over a dollar.
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  So we think we've got catch up to do just catching up to some
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  of our peers. But but we're not, we're not
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  just going to sit here and say, OK, we're undervalued relative
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  to some of the other, to some of the other silver companies.
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  So therefore buy our stock please.
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  You know, that's just not reasonable.
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  We're we're out in the field now in Alaska aggressively trying to
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  drill out these deposits. So it's a bit of A22 faceted
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  approach in that respect. Yeah, yeah.
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  What about grade? When you talk about 236,000,000
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  silver equivalent Oz, what? What kind of grade are we
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  talking about? Yeah, we're talking about over
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  325g per ton silver equivalent. So in the neighborhood of 10 oz
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  for every ton of rock, plus or minus.
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  Wow, wow. And and you, you mentioned
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  exploration, I know, is it, is it accurate to say that
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  initially you're going to be focusing on the Alaska project,
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  but then throughout the year is the seasons change, you can move
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  to New Mexico, you can move to Nevada.
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  Is that a? Yeah.
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  Certainly, certainly that's, that's the plan and and we're
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  concentrating on Alaska right now because that has number one
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  that has the most asset, the most ounces in it.
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  So that's really where we want to be during the summer drilling
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  season in Alaska when we have good light and and really summer
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  temperatures. But that doesn't really
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  preclude, you know, the prospectivity of the other
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  projects where that upside is still also very, very clear.
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  So we're working through that now and, and where do we go and
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  how do we prioritize that. But you know, it's clear that we
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  have a lot of work to do on on all three of the projects going
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  forward. Wow, what about the potential
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  for a APEA at some point in the future?
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  Are you even thinking about that at this point, or how does that
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  factor in? Absolutely.
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  We're thinking about that and I think the project that's closest
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  to that stage is Red Mount. And that's another reason why
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  it's really the focus. You know, it is the most
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  advanced, it is closest to what I think you know, could support
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  a critical mass for a good mining operation, a profitable
• 11:09
  mining operation. So as we move forward for the
• 11:12
  next year, right now we're focused on drilling, but if our
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  expansion holes are say successful, I I don't really
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  think we need to get much bigger or necessarily any bigger.
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  You know, depending on those numbers and depending on metal
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  prices, you know, we're really going to closely look at putting
• 11:29
  APEAA detailed P/E A working on that at the Red Mountain
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  projects so we can start to communicate to investors what we
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  think the financial upside could be for building a mine.
• 11:41
  Wow, very, very interesting. And then from there, you can
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  folks still focus on the Hughes project in Nevada in Mogion, if
• 11:49
  I pronounce that correctly, that's.
• 11:50
  Right, you did. Yeah, new.
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  Mexico, you know, the, the, the flavor of the opportunities in
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  at Hughes in Nevada and Maggione in New Mexico are interesting in
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  that the, the upside for a lot of discovery, a lot of
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  additional oz is very high. And starting with Hughes in
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  Nevada, I mean we're on to a multi kilometer extension of the
• 12:15
  historic Tonopah mining district, which total endowment,
• 12:18
  what they mined in the past and what's been found there more
• 12:22
  recently is something like 500 million silver equivalent ounces
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  and we're on a multi kilometer extension of that.
• 12:29
  You know, we need to find where the big vein is out there, the
• 12:32
  big structure, but we've hit a lot of what we think are
• 12:35
  peripheral structures that have good high grade in them.
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  And so that's that one. And then in Muggio, New Mexico,
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  I mean I'll just cut to the chase.
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  And in my professional opinion, you know, that could be the best
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  remaining Bane field left in the United States.
• 12:50
  It's at surface, there's high grades at surface.
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  It's relatively underexplored. Our drill holes so far have been
• 12:57
  very successful in delineating what I would say a first step
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  resource of 32,000,000 ounces in silver and gold.
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  But it's, it's wide open and we've drilled something like
• 13:06
  incompletely 2 kilometers of the first structure incompletely
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  drilled, incompletely covered that.
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  There's an additional 75 kilometers of perspective vein
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  and structure on the project, most of which is unexplored.
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  So a lot of work to do long term.
• 13:21
  You know, the last time we talked, you brought up something
• 13:23
  that I wasn't aware of. And, and correct me if I'm wrong
• 13:26
  on this, but the, the, the structure that you have at
• 13:29
  Mogian in New Mexico is kind of an extension of the, the
• 13:34
  structures that go through the country of Mexico where we know
• 13:38
  a lot of the world silver comes from.
• 13:40
  Is that correct? I I would say it's certainly
• 13:44
  akin to all of those deposits, a brother of all of those
• 13:46
  deposits, maybe the most northerly of those Mexican style
• 13:50
  vain fields. And it's about in, in
• 13:52
  southwestern New Mexico. It's about maybe maybe 100 miles
• 13:56
  from the border or between 100 and 150 miles north of the
• 14:00
  border. OK, so not not far.
• 14:03
  OK. So it's but, but it's, it's not
• 14:05
  in Mexico, it's in the United States, which again, is I think
• 14:08
  a key point as we talk about this new Silver 47 company.
• 14:14
  You know, I know that and I don't want to say anything bad
• 14:17
  about the silver mining in Mexico, but Mexico has become
• 14:20
  kind of a challenging environment for some of the
• 14:23
  mining companies over the last five or seven years.
• 14:27
  And that the fact that you have all of this silver in the
• 14:30
  ground, you know, I'm, I'm an investor in physical silver, I'm
• 14:34
  an investor in mining stocks. But the idea that I can, that I
• 14:38
  can buy stock in a company that has all this metal in the ground
• 14:44
  at, at a fraction. I mean, literally what do we say
• 14:46
  1% of the price? I think it just, it just
• 14:50
  presents a really great value opportunity.
• 14:53
  And then and then the fact that you guys are out there actively
• 14:57
  exploring, I mean any, any ballpark or or blue sky ideas in
• 15:03
  terms of eventually like goals, how many ounces you you might
• 15:07
  like to have in the ground? Yeah, you, you know, I think we
• 15:10
  can, we can throw these goals out there.
• 15:12
  Right now we're at 2:50. I'd like to see that you know
• 15:15
  double and I think our projects can support that over over time
• 15:18
  like this isn't gonna be this year or something like that, but
• 15:20
  over time certainly our projects can support that type of growth.
• 15:24
  But also, you know, one of the things that we're working on is
• 15:27
  looking just looking for additional M&A opportunities
• 15:29
  because if we can grow through acquisitions of like minded
• 15:32
  companies, that could be a really good, really beneficial
• 15:35
  for our shareholders. So I think that's something that
• 15:39
  in the background we're we're already working on and, and
• 15:41
  looking at closely and I hope to be able to share, you know,
• 15:44
  something like that in the, you know, in the medium term, but of
• 15:47
  course it takes a lot of work. Yeah.
• 15:49
  Well, in a creative acquisition opportunities are probably out
• 15:54
  there right now because I think we're ahead of the curve.
• 15:57
  Like the general market is just starting to wake up right to
• 16:02
  this opportunity that we have. You know, as we move through Q2
• 16:07
  earnings for a lot of the mining companies, I think you know, we
• 16:10
  could see a lot of the of the general markets waking up to the
• 16:13
  fact that, that, that there's a lot of cash flow being generated
• 16:17
  by the active miners and that they need to replace their Oz.
• 16:21
  I want to touch on that. Take a few more minutes of your
• 16:23
  time. You know, the silver miners,
• 16:25
  let's say, let's say hypothetically the silver price
• 16:28
  next time we talk is, you know, $10 higher than where it is now.
• 16:33
  And people are we need to get silver.
• 16:35
  We need to get silver. That's not crazy.
• 16:37
  Yeah, but it's not crazy. But but but the fact is that
• 16:41
  that there's been such little investment.
• 16:43
  Now you've set yourself apart, but overall there's been such
• 16:46
  little investment in silver exploration.
• 16:49
  There aren't just there just aren't a lot of companies like
• 16:51
  yours out there that have all these ounces in the ground.
• 16:56
  You know, I'm speaking for myself, but I could see a big
• 17:00
  premium being placed on companies like yours because
• 17:03
  the. Yeah, that that's a good point.
• 17:06
  And that that's sector wide throughout the metals.
• 17:09
  You know, there's been, you know, generally a lack of
• 17:12
  discoveries of new discoveries because you know, like a lot of
• 17:15
  the stuff at surfaces has really been found in in general just
• 17:19
  big picture idea and these things are getting harder and
• 17:23
  harder to find. But if you couple that with the
• 17:26
  fact that like good high grade silver facing assets, there's
• 17:32
  only very there's very few of them out there.
• 17:35
  There's very few, there's even less at high grade, there's even
• 17:38
  less in good places like the United States.
• 17:40
  So that means that, you know, what we have and and what we're
• 17:44
  sitting on is relatively rare and relatively valuable.
• 17:47
  So that's something that I think is important for people to
• 17:50
  understand for sure. But you know, my experience as
• 17:54
  an exploration geologist and having been involved in, you
• 17:57
  know, several successes is that, you know, sometimes it only
• 18:01
  takes one idea and 1 drill hole to change things materially.
• 18:06
  You never know when it's going to happen.
• 18:08
  It's hard to do, but when it happens it can be, you know,
• 18:11
  quite magical. Yeah, yeah, yeah.
• 18:13
  Well, I'm, I'm excited to see where this new Silver 47 heads
• 18:18
  as we move into the next 5 to 10 years.
• 18:20
  As I disclosed earlier, I am a shareholder.
• 18:23
  So I have a vested interest in, in watching you succeed as you,
• 18:27
  as you look out, let's say in the next 6 months, are there
• 18:30
  anything, any catalyst, anything that you're looking forward to
• 18:34
  on the in the near term horizon? Yeah.
• 18:37
  You know what, for us right now, it's a really it's a focus on
• 18:39
  drilling. So when we start to get assays
• 18:42
  back from our summer program, I think investors can expect to
• 18:44
  see that going into the later summer and fall.
• 18:49
  We're looking to drill our other projects.
• 18:52
  So continued news flow throughout the winter.
• 18:57
  We're potentially looking at updating our 431-O1 resource in
• 19:00
  Alaska. And if that looks positive,
• 19:04
  promising, you know, that could really easily lead into APEA,
• 19:08
  you know, all within the next 12 months.
• 19:10
  But right now we're concentrating on what we can
• 19:12
  control. We can't control the results and
• 19:13
  keeping our heads down and just being as efficient as we can at
• 19:16
  sight. OK, sounds good.
• 19:18
  I want to bring the viewer out to the Silver 47 website real
• 19:22
  quickly so they can see the the stock symbols.
• 19:26
  This is the corporate presentation which can be found
• 19:29
  at the Silver 47 website as well.
• 19:31
  This shows the three projects on the right, Red Mountain, Hughes
• 19:36
  and Mogian. And if we go out to the company
• 19:40
  website here you can see on the TSX for Silver 47 symbol Aga and
• 19:47
  on the OTCQBAAGAF Galen, it's always great to talk to you.
• 19:53
  I, you know, on behalf of myself and the viewer and the
• 19:56
  opportunity that I know we have ahead of ourselves.
• 20:00
  I'm super excited. Is there anything I forgot to
• 20:02
  ask you or anything you want to mention before we before we sign
• 20:05
  off? Yeah.
• 20:07
  Thanks very much, Ron. And I just think that, you know,
• 20:09
  my message to investors is that consider owning Silver 47 if
• 20:13
  you're interested in American precious metals and interested
• 20:16
  in American silver. Yeah, yeah, made, made in
• 20:19
  America silver. And there isn't a lot of it.
• 20:21
  It's, it's scarce. And I'd say that you and Gary
• 20:25
  accumulated a good amount of it. So thanks again for joining me,
• 20:29
  Galen, and I'll look forward to seeing you next time.
• 20:32
  Thanks, Ron. See you soon.