Keith Neumeyer Discusses Silver One Resources


A few days ago, we took the time to visit once again with Keith Neumeyer, president and CEO of First Majestic Silver. In addition to providing a full update on the state of the silver market, Keith shares some insight into a company in which he has an interest as a shareholder, Silver One Resources.

Over the course of this call, Keith discusses:

  • The latest developments in the silver market and his forecast into the remainder of 2017
  • How mining companies manage their costs and currency exposure in an attempt to widen margins
  • Why he thinks Silver One is such an intriguing investment opportunity

Silver One is listed in Canada with the symbol SVE and in the US under the symbol SLVRF.

Thanks for listening. Have a great weekend!



Aug 13, 2017 - 10:00am



Aug 13, 2017 - 10:16am

It's going to be a busy week

Besides all the geo-political stuff. Lots of economic data, particularly on Tuesday.

puro oro
Aug 13, 2017 - 10:29am


This era reminds me of the 1960s, volatile to say the least. Good morning Turdville

Aug 13, 2017 - 11:04am

thanks Turd and Keith

...for some Sunday morning listening.

Peace to all of you my friends.

Aug 13, 2017 - 11:19am

AG and FMF are two of my largest unrealized losses in

my mining stock portfolio. I'm starting to consider trimming those positions considerably, but I do like Keith and appreciate his honest view of the world. Silver One, however, seems like a strange deal given AG already owned the assets. If they were so great, then why wouldn't AG just hold them?

Aug 13, 2017 - 11:32am

The alternative 'busy week' agenda

Monday NORK, precious metals and cryptos grip the attention of America

Tuesday NORK and Trump grip the attention of America

Wednesday Trump and Xi get into a debate over NORK Precious metals level off

Thursday Bitcoin doubled again. The crypto fan boys go wild. DOW rises 400 points.

Friday NORK launched more ICBMs. Off course, they hit the Sendakus. Xi's pissed

Saturday We get to sleep in. The world was saved. Gold breaks $1,325. Silver $18

Aug 13, 2017 - 11:34am
Aug 13, 2017 - 11:38am


Too bad the interview was before the earnings were released; would have been interesting to have Keith talk about them.

Aug 13, 2017 - 12:51pm


1) Please explain why your currency trading desk performed so badly and what you are doing to remedy the problem?

2) "Illegal" strikes cut into production significantly. If they were illegal, why weren't they squashed immediately? Is this indicative of civil work unrest and a growing problem in Mexico?

3) Exactly what is First Mining Finances revenue model? It does not appear to be proving out.

Do your shareholders a favour....spend less time living in Switzerland and more time on task running the company.

Aug 13, 2017 - 1:25pm

Maestro...and less time running an investment letter

with Daniel Ameduri. I have learned an important lesson in the mining share market the past couple of years - those stocks that promote the most are ultimately the best short targets when the market turns.

Aug 13, 2017 - 3:09pm

So far, in very early

So far, in very early trading, the USDJPY is off about 10¢ at 109.08

garth TF
Aug 13, 2017 - 3:18pm


109.116 - right direction at least

Aug 13, 2017 - 3:52pm

Breaking Trendlines

Not just the gold weekly but Yamana as well.

Aug 13, 2017 - 5:04pm


As a visual chart...

Silver does not look bad...

Not sure I like the way Gold is shaping up based on these.

Aug 13, 2017 - 5:37pm

honest view of the world

do you still believe that nonesense? he prices everything in DEBT currency. mathematical fallacy.

mathematical Proof? if you take the LIMIT at time goes to 0, you eliminate assumptions, how many debt ious acquire you silver? does that converge or diverge IN THE MOMENT?

No One Else will. so we will... in 25 minutes. 14 August GMT+2

We launch AfroZoom.Energy, the future, now!

Video unavailable
Aug 13, 2017 - 7:00pm

The fuck nuts in the House of Reps have ginned up something

really stupid HR 3364 is set up to go after illicit financing trends to combat terrorism. Meaning they are going after crypto currencies

A measure will be introduced to Congress in a year

With a multi year budget that identifies sufficient resources.

Uh huh

Like the IRS going after tax cheats

This might get off the ground between time spent on internet porn and kitten videos

If the IRS couldn't figure out how to run a Nevada brothel there's little chance that the DHS, NSA, FBI, DOJ and the rest of the Keystone Copian fucktards will figure out cryptos before the FOBC are on to the next evolution of BTC.

Aug 13, 2017 - 8:57pm

The Sunday Evening Bullshit Trade

I sure hope that none of this garbage surprises anyone around here...

Ronnie 666
Aug 13, 2017 - 9:03pm

No one is surprised, only dissapointed

The real question is, when does the bullshit end ?

Aug 13, 2017 - 9:06pm

General markets

They look good. Haven't looked but I assume the national debt is paid off and there is world peace.

Aug 13, 2017 - 9:37pm
Aug 13, 2017 - 10:02pm


The Japanese yen doesn't function as Japan's national currency anymore. It's only purpose now is as the funding vehicle for the global carry trade. Therefore, news specific to Japan's economy rarely matters.

Dr. P. Metals
Aug 13, 2017 - 10:16pm


alas, it doesn't. It just changes shape, color, size and odor over time, mutating into new forms to try to continue the fraud and charade and obfuscation.

AgstAger TF
Aug 13, 2017 - 10:20pm
Aug 13, 2017 - 10:59pm

Congratulations to Justin Thomas

His father and grandfather both PGA members.

Winning this as his first major has to be mighty sweet.

Aug 13, 2017 - 11:15pm

Silver just hit 17.21!!!

Justin Thomas very nice!!

Aug 13, 2017 - 11:31pm

NEO peaked at 53.63 today...

got in at 5.17 in June, because of AIJ Big THANK YOU!!!

Aug 14, 2017 - 12:13am

Egon von Greyerz

Egon von Greyerz – Big Money Going into Gold
Numpty TF
Aug 14, 2017 - 12:14am

The purpose of the Yen

Turd spaketh "The Japanese yen doesn't function as Japan's national currency anymore. It's only purpose now is as the funding vehicle for the global carry trade."

That nutshell explanation dropped the scales from my eyes. It's a hell of a nutshell. If a nation's currency is an avatar, then it isn't money, and their financial realm is a weaselwork. While I had realized that was the drift, I hadn't accepted that that was it's essence.

Aug 14, 2017 - 12:50am

ot from elsewhere

Watching the Oliver Stone movie "Ukraine on fire". Complete with recently unclassified CIA documents showing that the CIA was backing the groups in the Ukraine that killed 100,000 or more Jews during WW II. The CIA moved the leader to the USA and gave them all protection.

Aug 14, 2017 - 5:51am

Yes Congress, Afghanistan Is Your Vietnam

Authored by Andrew Bacevich via The American Conservative,

Does any member have the courage and vision to take responsibility?

Just shy of fifty years ago on November 7, 1967, the Senate Foreign Relations Committee, chaired by J. William Fulbright, Democrat of Arkansas, met in executive session to assess the progress of the ongoing Vietnam War. Secretary of State Dean Rusk was the sole witness invited to testify. Even today, the transcript of Rusk’s remarks and the subsequent exchange with committee members make for depressing reading.

Responding to questions that ranged from plaintive to hostile, Rusk gave no ground. The Johnson administration was more than willing to end the war, he insisted; the North Vietnamese government was refusing to do so. The blame lay with Hanoi. Therefore the United States had no alternative but to persist. American credibility was on the line.

By extension, so too was the entire strategy of deterring Communist aggression. The stakes in South Vietnam extended well beyond the fate of that one country, as senators well knew. In that regard, Rusk reminded members of the committee, the Congress had “performed its function…when the key decisions were made”—an allusion to the Tonkin Gulf Resolution, a de facto declaration of war passed with near unanimous congressional support. None too subtly, Rusk was letting members of the committee know that the war was theirs as much as it was the administration’s.

Yet Fulbright and his colleagues showed little inclination to accept ownership. As a result, the back-and-forth between Rusk and his interrogators produced little of value. Rather than illuminating the problem of a war gone badly awry and identifying potential solutions, the event became an exercise in venting frustration. This exchange initiated by Senator Frank Lausche, Democrat from Ohio, captures the overall tone of the proceedings.

Senator Lausche: “The debate about what our course in Vietnam should be has now been in progress since the Tonkin Bay resolution. When was that, August 1964?

Senator Wayne Morse (D-Ore.): “Long before that."

Senator Albert Gore, Sr. (D-Tenn.): “Long before that.”

Senator Fulbright: “Oh, yes, but that was the Tonkin Bay.”

Senator Lausche: “For three years we have been arguing it, arguing for what purpose? Has it been to repeal the Tonkin Bay resolution? Has it been to establish justification for pulling out? In the three years, how many times has the Secretary appeared before us?

Those hearings, those debates, in my opinion, have fully explored all of the aspects that you are speaking about without dealing with any particular issue. Now, this is rather rash, I suppose: If our presence in Vietnam is wrong, [if] it is believed we should pull out, should not one of us present a resolution to the Senate[?] …. [Then] we would have a specific issue. We would not just be sprawled all over the field, as we have been in the last three years.

Put simply, Senator Lausche was suggesting that Congress force the matter, providing a forum to examine and resolve an issue that had deeply divided the country and that, Rusk’s assurances notwithstanding, showed no signs of resulting in a successful outcome. No such congressional intervention occurred, however. As a practical matter, Congress in 1967 found it more expedient to defer to the wishes of the commander in chief as the exigencies of the Cold War ostensibly required.

So the Vietnam War dragged on at great cost and to no good effect. Not until the summer of 1970 did Congress repeal the Tonkin Gulf Resolution. Even then, the gesture came too late to have any meaningful impact. The war continued toward its mournful conclusion.

To characterize congressional conduct regarding the Vietnam War as timorous and irresponsible is to be kind. There were individual exceptions, of course, among them Senator Morse who had opposed the Tonkin Gulf Resolution and Senator Fulbright who by 1967 openly regretted his vote in favor and recognized Vietnam for the disaster it had become. Collectively, however, legislators failed abjectly.

Well, with the passage of a half century, here we are again, back in the soup (or perhaps more accurately, the sand). With the United States currently mired in the longest armed conflict in the nation’s history—considerably longer than Vietnam—Senator Lausche’s proposal of 1967 just might merit a fresh look.

Of course, the Afghanistan War (ostensibly part of a Global War on Terrorism) differs from the Vietnam War (ostensibly part of the Cold War) in myriad ways. Yet it resembles Vietnam in three crucial respects. First, it drags on with no end in sight. Second, no evidence exists to suggest that mere persistence will produce a positive outcome. Third, those charged with managing the war have long since run out of ideas about how to turn things around.

Indeed, the Trump administration seems unable to make up its mind about what to do in Afghanistan. A request for additional troops by the senior U.S. field commander has been pending since February. He is still waiting for an answer. James Mattis, Trump’s defense secretary, has promised a shiny new strategy. That promise remains unfulfilled. Meanwhile, the news coming out of Kabul is almost uniformly bad. The war itself continues as if on autopilot. Lausche’s “sprawled all over the field” provides an apt description of where the United States finds itself today.

Where is the Congress in all of this? By all appearances, congressional deference to the putative prerogatives of the commander in chief remains absurdly intact—this despite the fact that the Cold War is now a distant memory and the post once graced by eminences like Truman and Eisenhower is now occupied by an individual whose judgment and attention span (among other things) are suspect.

A citizen might ask: What more does the Congress need to reassert its constitutional prerogatives on matters related to war? Surely there must be at least a handful of members who, setting aside partisan considerations, can muster the courage and vision to offer a rash proposition similar to Senator Lausche’s. Doing so has the potential not only to inaugurate debate on a conflict that has gone on for too long to no purpose, but also to call much needed attention to the overall disarray of U.S. policy of which Afghanistan is merely one symptom. Otherwise, why do we pay these people?

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events Week of 6/17

6/18 8:30 ET Housing Starts and Building Permits
6/19 2:00 ET FOMC Fedlines
6/19 2:30 ET CGP presser
6/20 8:30 ET Philly Fed
6/21 9:45 ET Markit flash June PMIs

Key Economic Events Week of 6/10

6/11 8:30 ET Producer Price Index
6/12 8:30 ET Consumer Price Index
6/13 8:30 ET Import Price Index
6/14 8:30 ET Retail Sales
6/14 9:15 ET Cap Ute and Ind Prod
6/14 10:00 ET Business Inventories

Key Economic Events Week of 6/3

6/4 All day Fed conference in Chicago
6/4 10:00 ET Factory Order
6/5 9:45 ET Markit Services PMI
6/5 10:00 ET ISM Services PMI
6/6 8:30 ET US Trace Deficit
6/7 8:30 ET BLSBS
6/7 10:00 ET Wholesale Inventories