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Let's take a look at the Silver market and compare the price of Silver versus the Silver Miners and how they did over the last year and a half. We have moved into a genuine Silver Bull Market, which is unfolding now, and capital begins flowing into the mining stocks. Historically, they tend to outperform silver itself once a confirmation that the bull market is real and moving forward, and SIL is telling us this is a real Bull Market.

Why have the miners outperformed the metals in the last year?
Simple: leverage. Rising silver prices give miners outsized gains, and when fund managers start hunting for undervalued and overlooked sectors—like the miners were just last year—even relatively small amounts of money can send those stocks sharply higher. The numbers speak for themselves.

Let's take a look at the SIL chart from the last year and a half... In March of 2024, it was at $23; today, on Sept 25th, it is at $67, that is a 191% ROI.

Now compare that to silver during the same time frame. Silver went from $23.50 (approx.) to $44 now, which is an 87% ROI, which is better than most stocks or ETFs have done.  So clearly, Silver and the Miners have outperformed the broader markets.
 

That said, mining shares aren’t for everyone. You’ve got to do your own research and understand exactly what you’re holding. They also cut both ways: in a downturn, mining stocks will usually drop harder and faster than silver. That’s the risk-to-reward tradeoff every investor needs to weigh at this moment. If you think the price of Silver has peaked or will make a double top at $50, and then correct down, the miners will also fall, and probably at a higher percentage. Personally, I think Silver is going to $50 first before we see any correction. The markets and price action are drawn to $50, which has been a resistance zone two other times, so I think we will test that price once again. And you know what they say, third time's a charm, so we may even see a triple top break out, and if that does happen, then silver goes much higher, and the miners will soar.

I know some folks will argue that miners are too risky and insist on sticking with physical silver only. Fair enough, if that is your strategy, it's a great one. But I’ve never been afraid of risk when the timing is right—and over the past year, the timing has been very favorable for silver miners. I’ve been in the precious metals space since 2005, and have seen a few bull and bear cycles, and I’ll ride this trend until the market tells me otherwise. Back in 2012, I called the top of the precious metals cycle and not to buy the metals or the miners; in fact, I kept saying the prices are coming down, and to sell then. When I sense the next top is coming or here, I’ll let you know if you follow our research. But for now, I believe there’s still more room to run over the next few months.

Usually, the seasonality for precious metals peaks in Feb/March, so let's wait and see what happens then, but for now, I’ll keep riding this bull—until she bucks me.

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