First Majestic's Todd Anthony on Exploration, Consolidation and the Silver Price

At last week's Vancouver Resource Investment Conference (VRIC), the Investing News Network had the chance to speak with Todd Anthony, vice president of investor relations at First Majestic Silver (TSX:FR,NYSE:AG). With six producing mines in Mexico, the company is a major force in the silver market, and Anthony was able to comment on a number of key issues affecting the space. Notably, he touched on cuts to exploration spending, which have become necessary in today's low silver price environment. He also provided commentary on: Consolidation in the silver space: While Anthony thinks more consolidation is possible, he also noted that "the quality deposits and companies that ... are interesting are very small right now. There's not a lot of interesting projects out there that are making money at $14 silver." What's next for the silver price: "I think we've found the bottom," Anthony said, adding, "I think we'll see the higher prices at the end of the year." More specifically, he's looking for $16, $17 or even $18 silver. In closing, Anthony offered this advice to investors who are concerned about silver: "I think it's time to just hang in there and hope that things do improve ... I think selling now — likely you'll be upset if you do." Watch the video above for more silver insight from Anthony.

Comments

1. Hmm.. if the turnout is high, that's not a sign of a bottom in the market, is it ?