“The production is down for silver every year and the demand keeps going up… The usage of silver is going parabolic and astronomic,” says Silver Stock Analyst editor Garrett Goggin . “Eighty percent of the world’s silver comes from Mexico, which is not a great place to operate anymore,” he tells Daniela Cambone at GSA Investor Day 2023. “Silver is a risky investment to mine, but you need to look at Bolivia and Morocco and not play it safe,” Goggin says. “Finding the companies that are looking at everything on a per-share metric, those are the companies preferred with a high-grade deposit,” he continues. “Silver is a volatile metal, and gold mines are more profitable than mining silver… The margins are less in the silver industry,” Goggin says. “The supply-and-demand equation does not line up for silver and at some point the metal’s price will catch up,” he concludes.