Post by
Boreas7 on Jun 16, 2023 4:25pm
Michael Konnert, CEO of Viszla, about the Mexico issue
Today, Michael Konnert, CEO of Viszla Silver, posted over on the VZLA board (about the Mexico issue). His words are also relevant to DSV and worth a read.
"Good morning everyone,
I understand the concerns around the recent share price decline, unfortunately, it has been industry and sector-wide. The silver junior ETF, SILJ, is down from a recent high of $12.00 to as low as $9.51. This isn't an excuse but a reference; as a shareholder, I am frustrated by this price action. We aim to exceed the ETF and provide outsized returns through discovery and development at our Panuco district.
I believe the most vocal concern here on the CEO board is regarding Mexico, and I share that concern. Probably the most calming information I have received is from a friend in Mexico who operates several businesses for the mining industry providing exploration drill rigs and underground mining equipment. He contracts to all the big Mexican mining companies and told me that they are ramping up after this recent announcement and are not worried about the reform. All of his machines are booked by the largest Mexican mining companies, something that's never happened before. The message I have received from these companies is that they are not worried about the reform and will continue business as usual.
I met with a handful of generalist funds this week whos total AUM exceed the silver market cap ($50B). Even a small inflow of funds into the silver space can be major. If one or two of them wake up and decide they want silver names, the re-rating can happen in only a few short trading sessions. Market sentiment can shift so quickly that it pays to be in these stocks before that upswing begins."