Silver is in an interesting place right now at $78 per oz, along with gold at $5,000. Historically silver has a pattern of spiking higher, then plateau at a higher level, then a few years later skyrocketing again and building a new base at an even higher plateau. Between 2013 to 2021, $20 per oz was the ceiling. Then in 2021 silver spiked to $30 per oz, and spent 4 years in the $20 to $30 range. Then around June of 2025 silver broke lose and climbed to $121 over the next 7 months. Now we might be back in that new higher plateau building phase. $70 to $90 seems to be the new range for silver prices. We might be here for months or even years. There is solid evidence that there is a supply shortage. There is also evidence that demand destruction for silver is around $135. Solar panel manufacturing would switch to copper plating at those levels. So who benefits most from silver at $80 per oz and gold at $5,000 for the next few years? The gold mining companies have cost of mining around $1,500 to $2,000 per oz. The silver miners are usually around $15 to $25 per oz for their cost of mining. Each is different. But they are ALL very profitable at these prices. Their current stock valuations don't really reflect the current prices of gold and silver. The markets are unsure if these prices will last long term. The longer prices stay at these levels, the debt gets retired, the stock buybacks occur, the dividends increase. Their balance sheets become cash flush. So the strategy now is to find the gold and silver mining stocks that can INCREAESE production at these higher prices. That is the tough part. Most miners are flat to slow decline in their gold and silver production. Most newer mines are lower quality ore or smaller or more remote. The best mines were already discovered and depleted. The two that I like the most, which can increase their production substantially, are these two stocks: Aya Ticker AYASF 🇺🇸 AYA 🇨🇦 Aya is producing 6 million oz of silver now at their Zgounder mine, very profitable with cost at $20 per oz. So their gross profits are above $300 million per year. Free cash flow likely $250 million. The real gain is their next mine Boumadine. That will be 6x larger than Zgounder. Boumadine will be producing by 2030. 61% gold, 21% silver and 18% other metals. The scale of Boumadine will be the equivalent of 36 million oz of silver per year (or 400,000 oz gold per year). So even if silver and gold just plateau for the next few years, the Aya valuation will likely 5x (or more) as Boumadine is built and starts producing. Silver X Ticket AGXPF 🇺🇸 AGX 🇨🇦 Silver X mines in Peru, which has the largest reserves of silver in the world. Silver X currently produces about 1 million oz of silver per year. They should be able to double that to 2 million oz by 2027. Longer term, they have the reserve size and potential to grow their production to 6 million oz per year. Those are the two silver mining stocks I like the most after doing my research. There are plenty of others. I try to avoid Mexico silver mining stocks, because the drug cartels are a major problem.(Wall Street Mav)