See the complete interview at Kitco: youtube.com/watch?v=zwehPJ_v…

$40 Silver Coming? Supply Crunch, M&A, and Why Miners Still Lag | Keith Neumeyer Silver is hovering near $37/oz, its highest level in over a decade - but mining equities still lag. In this Kitco News interview from the Rule Symposium in Boca Raton, Florida, First Majestic Silver CEO Keith Neumeyer speaks to Kitco's @JeremySzafron and explains why silver miners haven’t caught up to the metal’s breakout, what’s driving the supply crunch, and how M&A and investor positioning are reshaping the sector. Neumeyer says institutional interest is surging, retail margins are at record highs, and the company’s balance sheet is the strongest in its 22-year history. But he warns the industry needs “triple-digit silver” to bring new low-grade projects online - and says the market is still early in a new bull cycle. Special thanks to our sponsor, G mining Ventures, for making this coverage possible. To learn more, visit: gmin.gold// Key Topics: -Why silver miners are still lagging the metal -The real supply crisis: no new major discoveries -First Majestic’s mint margins and balance sheet strength -What’s needed for M&A: “chunky, permitted” assets -Silver vs. gold: what hits $40 or $3,600 first? -The case for Mexico as the top jurisdiction Follow Kitco News on Twitter: @KitcoNewsNOW ( / kitconewsnow ) Follow Keith Neumeyer on Twitter: @keith_neumeyer ( / keith_neumeyer ) Follow First Majestic Silver on Twitter: @FMSilverCorp ( / fmsilvercorp ) Interview Timestamps: 00:00 Introduction to the Rule Symposium 01:04 Silver Price Dynamics and Market Sentiment 02:06 Challenges in the Mining Sector 05:03 First Majestic's Minting Operations 06:37 Operational Costs and Inflation 08:09 Mergers and Acquisitions in the Silver Industry 13:07 Geopolitical and Permitting Risks 14:22 Future Outlook