“Silver is increasingly being used in energy conversion technologies. One of the applications is electromobility. Silver is an excellent conductive element; it is not used for the production of batteries, but for the production of individual cells in assemblies or for on-board electronics, ” says Benjamin Louvet, fund manager of OFI Precious Metals Funds at OFI Asset Management.
The commodities expert is not alone with this positive view of silver.
A growing source of demand for silver is namely the auto industry, especially the electric car industry. Then there is the need of the battery industry, because energy storage is a key future issue. Since silver reflects and conducts very well, it is also preferred in photovoltaic technology. Although the amount of silver required per cell has recently decreased, demand in this industry doubled between 2014 and 2019.
The future growth potential for silver is correspondingly large – provided the economy returns to its normal pace. In the short term, however, the development of the precious metal remains closely linked to the fate of gold. This is where the investment component comes into play.
So silver is important as an investment and as an industrial metal and it will stay that way. In particular, price drops in the meantime, such as the current ones, appear to be a cheap buying opportunity. This applies not only to the physical silver itself, but also to the shares of the silver companies.
One of the silver companies is about MAG Silver – https://www.rohstoff-tv.com/play/newsflash-mit-oceanagold-mag-silver-und-copper-mountain-mining/ -. The renowned investment house H.C. Wainwright & Co. is currently recommending MAG Silver as a buy and is based on a price of 22.50 US dollars (19.30 euros) per share. MAG Silver’s main project is the Juanicipio project, which is being developed together with Fresnillo in Mexico. MAG Silver has just purchased a 5,600 acre silver-rich property that includes a historic silver mine in Utah.
Summa Silver – https://www.rohstoff-tv.com/play/mining-newsflash-mit-tarachi-gold-isoenergy-summa-silver-und-trillium-gold/ – Has the option to acquire the Hughes property (with the previously producing Belmont Mine) in Nevada and the Mogollon property in New Mexico. More than 5,000 meters of drilling has been completed in the Hughes area. The prospects of finding more are very good.
Current company information and press releases from MAG Silver (- https://www.resource-capital.ch/de/unternehmen/mag-silver-corp/ -) and Summa Silver (- https://www.resource-capital.ch/de/unternehmen/summa-silver-corp/ -).
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