{"id":38430,"date":"2026-02-07T10:00:23","date_gmt":"2026-02-07T17:00:23","guid":{"rendered":"https:\/\/www.itmtrading.com\/blog\/?p=38430"},"modified":"2026-02-07T10:00:23","modified_gmt":"2026-02-07T17:00:23","slug":"silver-deficit-mexico-high-grade-project-mithril","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/silver-deficit-mexico-high-grade-project-mithril\/","title":{"rendered":"Silver Deficit Can&#8217;t Be Filled: Why This Mexico High-Grade Project Could Explode \u2013 Mithril CEO"},"content":{"rendered":"<p data-start=\"541\" data-end=\"637\"><strong data-start=\"541\" data-end=\"637\">The silver deficit isn\u2019t theoretical anymore \u2014 it\u2019s structural, permanent, and accelerating.<\/strong><\/p>\n<p data-start=\"639\" data-end=\"949\">As global demand surges and supply fails to keep up, industry insiders are now openly admitting what most investors still underestimate: <strong data-start=\"776\" data-end=\"814\">the silver deficit can\u2019t be filled<\/strong>. According to mining executives on the ground, there simply aren\u2019t enough primary silver projects coming online to meet future demand.<\/p>\n<p data-start=\"951\" data-end=\"1130\">That reality is exactly why <strong data-start=\"979\" data-end=\"1020\">high-grade silver districts in Mexico<\/strong> are drawing renewed attention \u2014 and why Mithril Silver and Gold\u2019s CEO says this imbalance could be explosive.<\/p>\n<hr data-start=\"1132\" data-end=\"1135\" \/>\n<h2 data-start=\"1137\" data-end=\"1187\"><strong data-start=\"1140\" data-end=\"1187\">Silver Deficit Is Structural \u2014 Not Cyclical<\/strong><\/h2>\n<p data-start=\"1189\" data-end=\"1369\">At the Vancouver Resource Investment Conference (VRIC), Daniela Cambone pressed Mithril CEO John Skeet on what many investors are finally waking up to: <strong data-start=\"1341\" data-end=\"1368\">silver supply is broken<\/strong>.<\/p>\n<p data-start=\"1371\" data-end=\"1418\">Unlike gold, silver is rarely mined on its own.<\/p>\n<p data-start=\"1420\" data-end=\"1436\"><strong data-start=\"1420\" data-end=\"1436\">Key problem:<\/strong><\/p>\n<ul data-start=\"1437\" data-end=\"1635\">\n<li data-start=\"1437\" data-end=\"1518\">\n<p data-start=\"1439\" data-end=\"1518\">Most silver production is a <strong data-start=\"1467\" data-end=\"1480\">byproduct<\/strong> of copper, lead, zinc, or gold mining<\/p>\n<\/li>\n<li data-start=\"1519\" data-end=\"1573\">\n<p data-start=\"1521\" data-end=\"1573\">Silver supply depends on economics of <em data-start=\"1559\" data-end=\"1573\">other metals<\/em><\/p>\n<\/li>\n<li data-start=\"1574\" data-end=\"1635\">\n<p data-start=\"1576\" data-end=\"1635\">Even rising silver prices don\u2019t immediately increase supply<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"1637\" data-end=\"1755\">As Skeet explained, <strong data-start=\"1657\" data-end=\"1705\">there are very few pure silver projects left<\/strong>, making supply inelastic just as demand explodes.<\/p>\n<p data-start=\"1757\" data-end=\"1835\"><strong data-start=\"1757\" data-end=\"1835\">That\u2019s why the silver deficit keeps growing \u2014 and can\u2019t be solved quickly.<\/strong><\/p>\n<hr data-start=\"1837\" data-end=\"1840\" \/>\n<h2 data-start=\"1842\" data-end=\"1889\"><strong data-start=\"1845\" data-end=\"1889\">Mexico Remains the World\u2019s Silver Anchor<\/strong><\/h2>\n<p data-start=\"1891\" data-end=\"2066\">While investors fixate on geopolitics and jurisdictional fear, <strong data-start=\"1954\" data-end=\"2011\">Mexico continues to dominate global silver production<\/strong> \u2014 especially for high-grade, primary silver districts.<\/p>\n<p data-start=\"2068\" data-end=\"2134\">Mithril\u2019s project sits in a historic Mexican mining district with:<\/p>\n<ul data-start=\"2135\" data-end=\"2288\">\n<li data-start=\"2135\" data-end=\"2172\">\n<p data-start=\"2137\" data-end=\"2172\"><strong data-start=\"2137\" data-end=\"2172\">100+ historic underground mines<\/strong><\/p>\n<\/li>\n<li data-start=\"2173\" data-end=\"2226\">\n<p data-start=\"2175\" data-end=\"2226\">Proven production dating back to the <strong data-start=\"2212\" data-end=\"2226\">late 1800s<\/strong><\/p>\n<\/li>\n<li data-start=\"2227\" data-end=\"2288\">\n<p data-start=\"2229\" data-end=\"2288\">Exceptionally <strong data-start=\"2243\" data-end=\"2288\">high-grade silver and gold mineralization<\/strong><\/p>\n<\/li>\n<\/ul>\n<p data-start=\"2290\" data-end=\"2379\">This is not greenfield speculation \u2014 it\u2019s redevelopment of a known, proven silver system.<\/p>\n<p data-start=\"2381\" data-end=\"2436\"><strong data-start=\"2381\" data-end=\"2403\">High-grade matters<\/strong>, especially in volatile markets:<\/p>\n<ul data-start=\"2437\" data-end=\"2535\">\n<li data-start=\"2437\" data-end=\"2461\">\n<p data-start=\"2439\" data-end=\"2461\">Lower break-even costs<\/p>\n<\/li>\n<li data-start=\"2462\" data-end=\"2497\">\n<p data-start=\"2464\" data-end=\"2497\">Resilience during price pullbacks<\/p>\n<\/li>\n<li data-start=\"2498\" data-end=\"2535\">\n<p data-start=\"2500\" data-end=\"2535\">Leverage during silver bull markets<\/p>\n<\/li>\n<\/ul>\n<hr data-start=\"2537\" data-end=\"2540\" \/>\n<h2 data-start=\"2542\" data-end=\"2590\"><strong data-start=\"2545\" data-end=\"2590\">Why High-Grade Silver Projects Matter Now<\/strong><\/h2>\n<p data-start=\"2592\" data-end=\"2678\">Silver prices have already doubled from their 2017 lows \u2014 but supply hasn\u2019t responded.<\/p>\n<p data-start=\"2680\" data-end=\"2699\">According to Skeet:<\/p>\n<ul data-start=\"2700\" data-end=\"2826\">\n<li data-start=\"2700\" data-end=\"2751\">\n<p data-start=\"2702\" data-end=\"2751\">Silver was ~$15 when Mithril acquired the project<\/p>\n<\/li>\n<li data-start=\"2752\" data-end=\"2770\">\n<p data-start=\"2754\" data-end=\"2770\">Gold was ~$1,300<\/p>\n<\/li>\n<li data-start=\"2771\" data-end=\"2826\">\n<p data-start=\"2773\" data-end=\"2826\">Today\u2019s prices dramatically improve project economics<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"2828\" data-end=\"2880\">Yet even at higher prices, <strong data-start=\"2855\" data-end=\"2879\">new supply is scarce<\/strong>.<\/p>\n<p data-start=\"2882\" data-end=\"2913\">That creates a dangerous setup:<\/p>\n<ul data-start=\"2914\" data-end=\"3076\">\n<li data-start=\"2914\" data-end=\"2966\">\n<p data-start=\"2916\" data-end=\"2966\">Rising industrial demand (solar, EVs, electronics)<\/p>\n<\/li>\n<li data-start=\"2967\" data-end=\"3016\">\n<p data-start=\"2969\" data-end=\"3016\">Monetary demand returning as inflation persists<\/p>\n<\/li>\n<li data-start=\"3017\" data-end=\"3042\">\n<p data-start=\"3019\" data-end=\"3042\">Constrained mine supply<\/p>\n<\/li>\n<li data-start=\"3043\" data-end=\"3076\">\n<p data-start=\"3045\" data-end=\"3076\">Years-long permitting timelines<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"3078\" data-end=\"3133\"><strong data-start=\"3078\" data-end=\"3133\">This is how silver deficits turn into price shocks.<\/strong><\/p>\n<hr data-start=\"3135\" data-end=\"3138\" \/>\n<h2 data-start=\"3140\" data-end=\"3206\"><strong data-start=\"3143\" data-end=\"3206\">Silver vs Dollar: Why Physical Metals Matter More Than Ever<\/strong><\/h2>\n<p data-start=\"3208\" data-end=\"3325\">While mining equities offer leverage, <strong data-start=\"3246\" data-end=\"3324\">physical gold and silver remain the foundation of true wealth preservation<\/strong>.<\/p>\n<p data-start=\"3327\" data-end=\"3348\">Unlike fiat currency:<\/p>\n<ul data-start=\"3349\" data-end=\"3444\">\n<li data-start=\"3349\" data-end=\"3375\">\n<p data-start=\"3351\" data-end=\"3375\">Silver cannot be printed<\/p>\n<\/li>\n<li data-start=\"3376\" data-end=\"3400\">\n<p data-start=\"3378\" data-end=\"3400\">Gold cannot be debased<\/p>\n<\/li>\n<li data-start=\"3401\" data-end=\"3444\">\n<p data-start=\"3403\" data-end=\"3444\">Tangible assets have no counterparty risk<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"3446\" data-end=\"3599\">As confidence in the dollar erodes and inflation remains structurally embedded, investors are rediscovering the role of <strong data-start=\"3566\" data-end=\"3584\">gold vs dollar<\/strong> and silver as:<\/p>\n<ul data-start=\"3600\" data-end=\"3697\">\n<li data-start=\"3600\" data-end=\"3624\">\n<p data-start=\"3602\" data-end=\"3624\">An <strong data-start=\"3605\" data-end=\"3624\">inflation hedge<\/strong><\/p>\n<\/li>\n<li data-start=\"3625\" data-end=\"3643\">\n<p data-start=\"3627\" data-end=\"3643\">A store of value<\/p>\n<\/li>\n<li data-start=\"3644\" data-end=\"3697\">\n<p data-start=\"3646\" data-end=\"3697\">A monetary metal with thousands of years of history<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"3699\" data-end=\"3779\">When deficits persist and trust breaks, <strong data-start=\"3739\" data-end=\"3778\">physical metals outperform promises<\/strong>.<\/p>\n<hr data-start=\"3781\" data-end=\"3784\" \/>\n<h2 data-start=\"3786\" data-end=\"3822\"><strong data-start=\"3789\" data-end=\"3822\">What This Means for Investors<\/strong><\/h2>\n<p data-start=\"3824\" data-end=\"3863\">The warning signs are no longer subtle:<\/p>\n<ul data-start=\"3864\" data-end=\"4039\">\n<li data-start=\"3864\" data-end=\"3914\">\n<p data-start=\"3866\" data-end=\"3914\">Silver deficits acknowledged by industry leaders<\/p>\n<\/li>\n<li data-start=\"3915\" data-end=\"3948\">\n<p data-start=\"3917\" data-end=\"3948\">Few new primary silver projects<\/p>\n<\/li>\n<li data-start=\"3949\" data-end=\"3997\">\n<p data-start=\"3951\" data-end=\"3997\">High-grade districts becoming strategic assets<\/p>\n<\/li>\n<li data-start=\"3998\" data-end=\"4039\">\n<p data-start=\"4000\" data-end=\"4039\">Inflation still eating purchasing power<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"4041\" data-end=\"4119\">This is not a short-term trade \u2014 it\u2019s a <strong data-start=\"4081\" data-end=\"4118\">supply crisis years in the making<\/strong>.<\/p>\n<p data-start=\"4121\" data-end=\"4205\"><strong data-start=\"4121\" data-end=\"4205\">When the market finally reprices silver for scarcity, the move won\u2019t be gradual.<\/strong><\/p>\n<hr data-start=\"4207\" data-end=\"4210\" \/>\n<h2 data-start=\"4212\" data-end=\"4229\"><strong data-start=\"4215\" data-end=\"4229\">Conclusion<\/strong><\/h2>\n<p data-start=\"4231\" data-end=\"4300\">The silver deficit isn\u2019t going away \u2014 and it isn\u2019t fixable on demand.<\/p>\n<p data-start=\"4302\" data-end=\"4464\">With supply constrained, demand rising, and monetary trust fading, <strong data-start=\"4369\" data-end=\"4421\">silver is being pulled in two directions at once<\/strong>: industrial necessity and monetary refuge.<\/p>\n<p data-start=\"4466\" data-end=\"4498\">History shows what happens next.<\/p>\n<p data-start=\"4500\" data-end=\"4658\">For investors focused on <strong data-start=\"4525\" data-end=\"4548\">wealth preservation<\/strong>, the question isn\u2019t <em data-start=\"4569\" data-end=\"4573\">if<\/em> silver revalues \u2014 but whether you\u2019re positioned <strong data-start=\"4622\" data-end=\"4632\">before<\/strong> the next repricing event.<\/p>\n<hr data-start=\"4660\" data-end=\"4663\" \/>\n<h2 data-start=\"4665\" data-end=\"4683\"><strong data-start=\"4668\" data-end=\"4683\">About &amp; CTA<\/strong><\/h2>\n<p data-start=\"4685\" data-end=\"4950\"><strong data-start=\"4685\" data-end=\"4706\">About ITM Trading<\/strong><br data-start=\"4706\" data-end=\"4709\" \/>ITM Trading has over 28 years of experience helping clients safeguard their wealth through personalized strategies built on physical gold and silver. Our team of experts delivers research-backed guidance tailored to today\u2019s economic threats.<\/p>\n<p data-start=\"4952\" data-end=\"5134\"><strong data-start=\"4952\" data-end=\"4996\">THINKING ABOUT PURCHASING GOLD &amp; SILVER?<\/strong><br data-start=\"4996\" data-end=\"4999\" \/>Get expert guidance from our team of analysts with 28+ years of experience.<br data-start=\"5074\" data-end=\"5077\" \/>&#x1f449; <strong data-start=\"5080\" data-end=\"5109\">[<a href=\"https:\/\/calendly.com\/itmtrading\/500?utm_content=DC05052025\" target=\"_blank\" rel=\"noopener\">SCHEDULE YOUR CALL HERE<\/a>]<\/strong> or call <strong data-start=\"5118\" data-end=\"5134\">866-706-9061<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The silver deficit isn\u2019t theoretical anymore \u2014 it\u2019s structural, permanent, and accelerating. As global demand surges and supply fails to keep [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":38431,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2922],"tags":[1332,3730,4215,4989,7368,7650,7972,7973,7974,7975,7976,7977,7978,7979,7980,7981,7982,7983,7984],"class_list":["post-38430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daniela-cambone-show","tag-precious-metals-investing","tag-silver-mining-stocks","tag-daniela-cambone-interview","tag-silver-bull-market","tag-silver-supply-crisis","tag-silver-shortage","tag-silver-deficit","tag-mithril-resources","tag-john-skeet-interview","tag-high-grade-silver-project","tag-mexico-silver-mining","tag-sierra-madre-silver","tag-primary-silver-producers","tag-junior-silver-stocks","tag-vric-conference","tag-silver-resource-expansion","tag-district-scale-silver-project","tag-silver-creek-project","tag-mining-exploration-success"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/38430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=38430"}],"version-history":[{"count":2,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/38430\/revisions"}],"predecessor-version":[{"id":38433,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/38430\/revisions\/38433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media\/38431"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=38430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=38430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=38430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}