Astonishing Silver Deficit: The Silver Just Isn't There | Mani Alkhafaji
Liberty and Finance May 12, 2026
Summary
First Majestic Silver achieved record Q1 2026 results with over $1 billion in treasury and silver margins expanding to $52 per ounce.
Management is advancing the Jarritt Canyon restart and expanding exploration programs, including 7.8 million ounces of gold resources.
A structural global silver deficit is intensifying as technology demand from AI and energy sectors outpaces constrained global supply.