Gatos Silver posts solid 2024, preps takeover by First Majestic
The deal will merge Gatos’ main Cerro Los Gatos mine with First Majestic’s San Dimas mine in Durango, and its Santa Elena operation in Sonora.
Sprott Asset Management’s chief investment strategist, John Embry, said Tuesday there is “a powerful entity” battling the powers that be in the silver market.
In an interview with King World News, the expert spoke about the increase in net-long contracts in the face of the declining silver price, the silver shortage, as well as the gold market.
He added the silver market was “grotesquely undervalued” and that there were “mounting shortages being documented all over the place.”
Silver’s performance since spring 2011 has been dull at best and discouraging at worst. Overall, the commodity has lost 34% of its value since peaking at the very end of April 2011.
