Keith Neumeyer on with Future Money Trends

Sun, Sep 20, 2015 - 2:00pm

As you know, my friend Dan at Future Money Trends occasionally sends over videos for TFMR readers to review. This latest interview with Keith Neumeyer, the CEO of First Majestic Silver, is certainly a must listen.

The original link to this video can be found at the Future Money Trends site:

Dan describes the video here:

Keith Neumeyer, founder of First Quantum Minerals and First Majestic Silver, two companies that achieved the billion-dollar market cap club, recently launched a new company, First Mining Finance (TSXV: FF).
Less than 6 months old, this tiny 30-cent-a-share company has recently announced the acquisition of millions of ounces of gold, bought for between $5.79 and $8.26 per ounce of gold.
This comes off the heels of a recently closed transaction, where FF paid less than $9 an ounce when they completed a hostile takeover of Coastal Gold.
We interviewed Keith Neumeyer, a recent winner of the Entrepreneur of the Year Award for Metals and Mining, to discuss the current opportunities he is seeing right now.
Mr. Neumeyer, also the current CEO of First Majestic Silver, one of the world’s lowest-cost primary silver producers, told us that the silver market is tight, and he believes the world will soon see triple-digit silver.
When it comes to the opportunity to buy assets cheaply, he said this is a once-in-a-lifetime opportunity for investors. He used to say once-in-a-decade opportunity, but the bear market has now helped him secure deals for gold at sub-$10 an ounce, shocking a lot of seasoned investors, making this potentially one of the best times ever to invest in the resource sector.

Thanks to Dan for sending this over and I encourage everyone to give it a listen.


About the Author

turd [at] tfmetalsreport [dot] com ()


silver66 · Sep 20, 2015 - 2:14pm


My lucky day, just logged back on to see what was up and here is a fresh new post


Gamble · Sep 20, 2015 - 2:21pm


Got any?

gamble gamble

AIJ · Sep 20, 2015 - 3:18pm

Denver Dave states his case for the Silver supply issue

"I really think there’s a serious problem in the supply of physical silver. The mint announced another 20% allocation cut-back two days ago. This is NOT a refinery supply issue – this is as raw material supply issue. And this is another fundamental supply/demand variable that could launch the precious metals into orbit, especially given the potential for igniting a short-squeeze in the paper bullion markets."

And with a little help from Robert McHugh

AlienEyes · Sep 20, 2015 - 3:32pm


4 th

Barfly · Sep 20, 2015 - 4:25pm

Kranzler's theory

Sorry, think this one is complete bullshit. Anyone who can do math can figure it out. Been over it in the last thread.

AIJ · Sep 20, 2015 - 4:35pm

Kranzler's theory / Barfly

Great rebuttal.

4 oz · Sep 20, 2015 - 4:36pm

Neumeyer Rocks!

And IF ---there’s a serious problem in the supply of physical silver.....these might go fast:

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2016 Silver Kangaroo!

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infometron · Sep 20, 2015 - 4:51pm

Neumeyer's most amazing statement

He's been in the business for 30 years and he's never seen gold available [in the ground] for less than $10/oz. Somehow I don't think he is even taking inflation into account... truly an investment opportunity of a lifetime, that is, so long as any semblance of order and civility survives. If not, see y'all down "The Road"

Only monetary metal miners are truly banks!

Barfly · Sep 20, 2015 - 5:29pm

Alright - how's this

Kranzler damages his own credibility and everyone else's in this space when he shoots his mouth off without any data to back it up. What are the commercial warehouse stock levels? Make your case. Otherwise shut the hell up.

Joseph Warren · Sep 20, 2015 - 6:06pm

Some websites are Sensationalists

and not just about PMs.

I recall warnings of 'impending shortages' of certain Russian and later certain American types of ammo too. Lots of blaring headlines on certain websites - - that happen to sell PMs, ammo, and prepper supplies. And they jacked up their ammo prices. (For those that don't follow the subject - none of those ammo shortages took place.)

Give it a rest, boys. Or come up with some hard evidence for a change. 

AIJ · Sep 20, 2015 - 6:15pm

Great Rebuttal

What a class act. I'm sure you make Craig proud since Denver Dave is a good friend. 

I like the line from Goose in Top Gun;

"they were abused children"

I understand. Peace.

Just bought three if these....while they last....

1 Kilo Silver Bar Johnson Matthey (32.15 troy oz) .999 Fine JM Bullion Ingot

Patriot Family · Sep 20, 2015 - 7:00pm

I'm with BarFly

The data on supply vs. demand can be used to support both sides of the argument. I'm with BarFly on this one. This whole thing smacks of a retail product shortage, and not a raw silver supply shortage (i.e., what the retailers need for "bullion" prodcuts). In my view, the retail product suppliers misforecasted demand at this price point. Now they are playing catch-up. Retail sellers are playing the game by pushig the shortage rumor and charging substantial premiums on silver and will be positing nice profits in Q3. They will continue to raise premiums through Q4 if demand doesn't abate and certain product lines are still not available in quantity. It's total BS that retailers raise premiums within a few days of each other, regardless of the strength of their supply or inventory. They are just like any other bank or business, and will maximize profits. I don't blame them. Wouldn't you?

Plus, LCS reports aren't any good indicator. They are only one notch above the consumer on the street in the supply chain, and they typically aren't good at forecasting local demand.

I've been in the forecasting business for 15+ years, and I have no other opinion until the lack of substantial evidence indicating a raw materials supply issue changes to something more convincing. I don't consider regurgitated information on multiple internet sites indicating some sort of supply shortage on the raw materials side as evidence. I can tell you this - I know when I smell games being played.

Bottom line, I won't be buying ASEs, Libertads, Maples, etc. at these premiums ($6-$7 for an ASE? Really?!?). I'm just not that gullible. However I'm still seeing 100 oz bars with somewhat reasonable premiums and those might still be a good deal.

· Sep 20, 2015 - 7:01pm


I still cannot ge 22LRs cheap... but the .223s are back in stock ans cheaper than ever.

infometron · Sep 20, 2015 - 7:35pm

Re: Silver shortage

My take is a bit down the middle, and I pounded this drum a while back now. If there is no wholesale shortage, and if businesses like Sunshine are not running at full capacity, then that suggests to me two possibilities.

1) there is just a mouse in the snake, supply side was caught unprepared to digest the uptake in demand for coins and small bars (100oz or less)

2) there really is a wholesale shortage, i.e., of 1000oz good delivery bars

If 1) then the supply shortage will be very temporary and fairly quickly resolved.

If 2) then there should be solid evidence of that, as Barfly suggests. Seems to me there are some reasonable grounds for inferring that there is perhaps a looming wholesale shortage (not proving, where only failures to deliver would suffice). To wit, SGE, SLV, and COMEX registered draw downs coupled with increasing Chindia demand, decreasing Mexican production, etc.

Also, if 2) what better way to fend off the inevitable than to purposefully cut back on supply for producing retail coins and bars? Think about this: the powers that be would benefit by putting off the inevitable a bit further and keeping monetary metals out of the hands of the unwashed, and the companies in the retail stream would benefit through higher premiums, which would milk aspiring stackers. Win win lose?

mel · Sep 20, 2015 - 7:36pm

@ Patriot Family..

I agree with what you've stated. We have to be mindful that we don't over state/ over embellish/or straight BS the facts because to do so will destroy our credibility....simple as that..

As I posted earlier, the large coin shops in Vancouver B.C. had a lot of 1 oz U.S and Canadian product 2 days ago when I contacted them.

For those looking for a sweet deal, there's a coin shop in Calgary Alberta, which I contacted on Friday, who were temporarily out of 1 OZ Canadian Silver Maples but had a number of 1 oz Red-tail hawk silver coins and they were selling them at same price as the Silver Maples ! Don't know how many they had. I won't name the shop but there aren't that many in Calgary.....

mel · Sep 20, 2015 - 7:55pm

@ addendum

Forgot to mention, I'm not revealing the name of the coin company in Calgary Alberta out of respect to our host as they are not sponsors on this site..

Barfly · Sep 20, 2015 - 8:15pm

Infomatron - putting it off

With 7% of one month's supply with held, it would buy them all of about 2 days. Seems not worth the effort, but I'm not in the secret club, either.

Newager23 · Sep 20, 2015 - 8:28pm

Sub $10 Gold in the Ground

I can confirm that their are dozens of companies with gold in the ground valued under $10 per oz. There are 82 late stage development stocks in my database with future reserves (my estimate) valued under $10 per oz for their market cap. If First Finance Mining had the money, they would be buying up several of these. Here is list of 50:

Adventure Gold Inc ---African Gold Group Inc. ---Almaden Minerals Ltd. ---Amarillo Gold Corp ---Atacama Pacific Gold Corp. ---Aurvista Gold Corp ---Avala Resources Ltd ---Az Mining Inc ---Barkerville Gold Mines Ltd ---Batero Gold Corp ---Bear Creek Mining Corp. ---Canadian Zinc Corp. ---Exeter Resource Corp ---Freegold Ventures Ltd ---Gold Bullion Development Corp ---Gold Canyon Resources Inc. ---Gold Mountain Mining Corp ---Golden Arrow Resources Corp ---Goldquest Mining Corp ---Gryphon Minerals Ltd. ---Heatherdale Resources Ltd ---Inv Metals Inc ---Kula Gold Ltd ---Lexam VG Gold Inc. ---Loncor Resources Inc ---Magellan Minerals Ltd. ---Manas Resources Ltd. ---Midas Gold Corp ---Minco Silver Corp. ---Mines Management Inc. ---Minnova Corp ---Moneta Porcupine Mines Inc. ---Newcastle Gold Ltd ---Ngex Resources Inc ---Northern Gold Mining Inc ---Orezone Gold Corp ---PC Gold Inc ---Pinecrest Resources Ltd ---Renaissance Minerals Ltd. ---Rio Novo Gold Inc ---Rye Patch Gold Corp. ---Salazar Resources Ltd ---Sandspring Resources Ltd. ---Sihayo Gold Ltd. ---Silver Bear Resources Inc. ---Silver Bull Resources Inc ---Spanish Mountain Gold Ltd ---Telson Resources Inc ---Tyhee Gold Corp ---Vista Gold Corp.

StevenBHorse · Sep 20, 2015 - 8:44pm

Let's clear this up right quick

With 7% of one month's supply with held, it would buy them all of about 2 days. Seems not worth the effort, but I'm not in the secret club, either.

So are you trying to tell me that western refiners that are experiencing the 5 MM ounce backlog have access to the entire world supply of 850 MM ounces?

At the very best, they would have access to the US, Canadian silver supply. Are you suggesting that the US refiners have access to Chinese and Bolivian mine supply?

Let's just assume 2015 output is the same as 2014. 

From the silver institute:

US - 37.6 MM

Canada- 15.5 MM

We are also assuming that all production can go to fill the requirements of the mints and refiners, and that mines don't have direct supply contracts with industrial customers. You are also assuming that production is continuous throughout the year with no seasonality.

US/Canada Monthly Production = 4.4 MM = 5 weeks

5 weeks again assumes that ALL the production of Canada and the US are going towards blank production, and none of your industrial consumers of silver.

You should probably get back to making/drinking your wine.

tyberious · Sep 20, 2015 - 9:34pm

Is Silver Intentionally Being

Is Silver Intentionally Being Drained And Diverted From The Retail System?

"I want to preface this post with the stipulation that it is, at this point, only a theory that may be completely off-the-rails. But, then again, it might be simplistic enough to meet the requisite explanative demands of Occam’s Razor.

Most commentators and bloggers do a fine job regurgitating and repackaging information and developments which have already become obvious. But the large majority refuse to take the analytic and intellectual risks required to advance ideas based on “tracks in the snow.” Or they may just not see or be aware of the “tracks” that have appeared.

I know that since it became clear to me in late 2001 that the U.S. population was under “attack” by the wealthy, power-hungry elitists who have gained control the system, I have been able to see how the economic, financial and political collapse of the U.S. was going to unfold with a fair amount of clarity by applying this think-like-a-criminal algorithm: “what would I do next if I were a criminal that could operate unshackled from Rule of Law?”"

lakedweller2 · Sep 20, 2015 - 9:34pm

The Old Days

Easier walking around picking up glass bottles and turning them in for 5 cents each at the bottle booth at the local grocery store. 

tyberious · Sep 20, 2015 - 9:38pm

@ StevenBHorse


Bolivian mine supply?(Chinese supply)


Then we had a new update on U.S. silver imports from the folks at the USGS. According to the data for May, the U.S. imported another 475 metric tons (mt) of silver. If we add up all U.S. silver imports JAN-MAY, it turns out to be a whopping 2,510 mt (81 million oz).

Total U.S. Silver Imports May 2015

As we can see, total U.S. silver imports year to date (2,510 mt) are 523 mt greater than the same period last year (1,987 mt). Thus, silver imports are 26% higher than they were during the first five months of 2014 and are on track to reach 6,000 mt in 2015. This continues to be a surprise because the U.S. market demand for silver is probably less than it was last year. 

"This suggests to me that domestically held silver in the United States is needed elsewhere to extinguish supply “fires” and the U.S. citizens can “eat cake” instead. This would explain the sudden jump in U.S. silver exports to India, first discovered by SRSRocco LINK, in May and June. If the the mint needs silver to produce enough silver eagles to meet retail demand, why is this silver being sold to India?"

tyberious · Sep 20, 2015 - 10:11pm
tyberious · Sep 20, 2015 - 10:14pm

I like Pento

But this is a fucking Joke!

Michael Pento continues: “I hope someone from the Federal Open Market Committee is listening to King World News, as I’m sure they monitor your site very closely.

tyberious · Sep 20, 2015 - 11:02pm

Very Nice

But $500.00 premium, 50k minted. Still less than some of my 2010-11 purchases.

tyberious · Sep 20, 2015 - 11:08pm

United Precious Metals Association in Utah

Gold and Silver are Money Again. Finally. Thanks to this Group.

"The United Precious Metals Association in Utah has gold and now separate silver accounts that act as checking accounts do at any bank or credit union. The way it works is that members deposit Federal Reserve Notes (or paper dollars) into their UPMA account which in turn translates them into golden dollars (or silver). The golden dollars are based off the $50 one ounce gold coins produced by the Treasury of The United States. They are legal tender under the law and are protected as such. So if I were to deposit $1,200 FRNs then I would have $50 golden dollars.

UPMA is the only institution in the country that I know of that doesn't have a buy/sell spread on their Golden Eagles or Silver Eagles. This means that all my $1,200 FRNs once converted to gold could be spent the next day without losing anything to any sort of premium. The price of a Gold Eagle is 5.8% above spot but when you 'cash out' you do so at 5.8% above gold spot. This effectively removes that barrier from sound money.

This year the UPMA released a gold backed debit card via American Express. The way it works is that a member may spend up to half of their gold or silver dollars in any given month period using the card. When I interviewed the founder of UPMA today, Larry Hilton, I learned that the way the card works is that they have made a contract with American Express so that UPMA members can use what are technically credit cards as a debit card anywhere American Express is accepted. The members are added on as 'employees'. Right now there are already hundreds of people around the country using this method of payment. They are literally spending gold on groceries without losing anything to premiums or in transaction fees to UPMA. In fact they get 1% cash back in gold."

Barfly · Sep 20, 2015 - 11:20pm

Horse - incorrect

According to Srsrocco's chart above, the US refiners had access to at least 80.3 MM ounces in addition to the 37 MM ounces you cited. This is at least 117.3 MM ounces and I haven't even left the thread. A 5 MM ounce backlog brings us to what, 4.2%. This assumes that imports stopped in May. Averaging across the intervening months, and I'm extrapolating, here, YTD supply would reach 181.5 MM ounces including the additional 64.3 MM ounces. So that makes our 5 MM ounce number 2.3% of our total supply. Considering we're 9 months into the year, this means supply would be roughly 20.2 MM ounces per month, making a 5 MM ounce diversion just a single weeks supply. Congratulations. You've proven I was off by 5 whole days in my estimate. It's still just as bunk of a notion as it was previously. So there.

lakemike49 · Sep 21, 2015 - 12:00am

if i was a piece of meat

i would tell you i am not done yet, cook me a little longer. the heat dose not have to make me well done, it just has to make me eatable, well the more heat -lies- they tell me - the better i will taste, gold or silver is what TBTB are trying to fry right now. i say keep it up when diner is served i going to taste damn good.

cannot spell have no idea how to get my message across, but i see the world as we all do if we are wrong it only cost us money, if we are right - money is not everything, but it is damn nice to have, remember those around you.

your friend 


lakemike49 · Sep 21, 2015 - 12:00am

if i was a piece of meat

i would tell you i am not done yet, cook me a little longer. the heat dose not have to make me well done, it just has to make me eatable, well the more heat -lies- they tell me - the better i will taste, gold or silver is what TBTB are trying to fry right now. i say keep it up when diner is served i going to taste damn good.

cannot spell have no idea how to get my message across, but i see the world as we all do if we are wrong it only cost us money, if we are right - money is not everything, but it is damn nice to have, remember those around you.

your friend 


Lucy Sadie · Sep 21, 2015 - 12:12am

Keep stacking

Just clicked through and bought from JM Bullion for the first time. A few of those kilo bars for 99 cents over spot.

I have no idea if there is a silver shortage or not, now. Some day there will be.....about $ 520 per bar for 32.15 ounces.

Hoping some day this is a great deal even if they take us lower in the short term.

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