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(Kitco News) – The silver market is highly volatile as it supports more than $ 22.50. However, a mining executive is said to be an attractive long-term investment as it becomes an essential metal for the world economy.
In a telephone interview with Kitco News, Morgan Lexstrom, former president of Love Hammer (formerly Lauded Express), said global pressure to develop green energy infrastructure and the growing popularity of electric vehicles are key drivers of the silver industry’s demand.
According to Lexstrom, as technology improves, silver plays an important role in the development of the world.
“You can’t have strong economic growth without copper. Silver will be the same as technology. ”
He added that with a lot of basic support, Lectrom will be able to overcome the volatility in the near future. He said he was looking at the silver market in the wake of short-term medium-term weakness in the decades-old bull market.
“In a short time, there will be no need for silver,” he said. If there is not enough supply and there is more demand, the price will go up.
He said interest rates were expected to rise in silver, adding that the same thing was happening to the mining sector, which had struggled to attract investors this year.
According to Lexstrom, many companies feel that the global supply crisis is growing, so it is only a matter of time before interest returns to the mining sector.
No one pays attention to where things come from, but that will change. As companies begin to worry about how to get the next smartphone to market or the next electric vehicle, they will see a new focus on mining. , He said. “Commodities such as copper and silver are the source of all economies.
Lekstrom says it is an exciting time to be a young silver miner because of its potential in the market. Silver Hammer is a new player in the market, but he is actively expanding his wealth and projects.
The company was first unveiled in May at a major Silver Strand project in the Coeur d’Alene mining district of Idaho. During the last century, 1.2 billion birr was withdrawn from the woreda.
He noted that the company’s project was already a mine, but that Lexstrom had gone to a depth of 90 meters. He added that the area has been largely neglected for the past 30 years.
“The technology is very different from what it was 20 or 30 years ago and our understanding of geology has also changed a lot,” he said. I think there is the potential to create another level one property in this prosperous district.
However, since its launch, the company has acquired two other assets: Silver Silver Mine, “Silver Ali” in Eastern Nevada. The third project the company is currently developing is the Elza Silver Project in Hamilton Mining, Nevada.
Disclaimer The views expressed in this article are those of the author and may not reflect those Kitco Metals Inc. The author makes every effort to verify the information presented. However, Kitco Metals Inc. Nor can the author guarantee such accuracy. This article is strictly for informational purposes only. It is not a request to exchange any goods, securities or other financial instruments. Kitco Metals Inc.