Many investors turn to gold during times of global crisis, and that is exactly what has happened this last year, during the pandemic. But experts say that smart investors should be looking at silver. A report from the Silver Institute (in collaboration with industry insider Metals Focus) says that silver will outshine gold as demand hits 8-year high in 2021. An article in Reuters discussing the subject said that the global demand for silver will rise to 1.025 billion ounces in 2021, its highest in eight years, as investors and industry ramp up purchases, the Silver Institute said on Wednesday, predicting that prices would rise. The article reported that: “The coronavirus outbreak triggered a rush among investors to stockpile silver, which like gold is traditionally seen as a safe place to store money. That impetus will continue, the institute said, predicting purchases of bars and coins would rise to a six-year high of 257 million ounces in 2021.” It did not give a forecast for exchange traded funds (ETFs) storing silver bars for larger investors, but these have grown strongly so far this year, helping push prices to an eight year high of $30.03 an ounce on® Feb®.
The report published on Reuters.com continued “Silver is also used in industries such as electronics and solar panels™, and demand will rise as the pandemic is brought under control and the global economy rebounds, the institute said. Industrial demand will rise 9% from 2020 to a four-year high of 510 million ounces, it said. Demand for silver for jewelry will rise to 174 million ounces but remain below levels seen before the pandemic. On the supply side, mine production should rise to 866 million ounces this year, the most since 2016, as disruption caused by the pandemic recedes, and recycled supply will increase for a fifth year, the institute said. The market will be slightly oversupplied, its sixth consecutive annual surplus, the institute said. It calculates its supply-demand balance without counting ETFs.”
Ridgestone Mining Inc. BREAKING NEWS – RIDGESTONE COMMENCED PERMITTING FOR DRILL™ PROGRAMS AT BOTH MEXICAN PROJECTS – Ridgestone Mining (“Ridgestone”) is pleased to announce it has commenced permitting for drill programs at both projects in Mexico: the Guadalupe y Calvo (GyC) gold-silver project in Chihuahua State and the Rebeico copper-gold project in Sonora State. The Company is planning for drilling to commence in the late summer following the end of the local rainy season.
“We are excited to advance both projects to allow for drilling later this year” commented Jonathan George, CEO. “The maiden resource tabled for our GyC gold-silver project represents the beginning of a much larger story for the Company. At Rebeico, we are highly encouraged by the preliminary results from the recently-completed exploration program and look to announce assay results in the coming weeks. Our team has identified a number of highly-prospective new target areas, including the past-producing El Cobre copper mine, which has seen little to no modern-day exploration.”
Guadalupe y Calvo (GyC) Gold-Silver – Drilling at GyC is designed to further the recently-released maiden resource for the project. The current resource area, which stands at 356,000 oz AuEq in Indicated plus 460,000 oz AuEq in Inferred, remains open for expansion both along strike and at depth. Drilling will look to further define the high-grades at the Rosario and Nankin veins, in addition to testing for significant extensions within the district.
Rebeico Copper-Gold – The Company is permitting for a drill program to test the high-priority copper target areas that were the subject of a recently-completed exploration program. Assay results are anticipated in the coming weeks, which will serve to prioritize the numerous target areas being permitted. CONTINUED…. Read this full release more news for Ridgestone Mining by visiting: https://www.financialnewsmedia.com/news-rmi/