As Silver Sees Supply Deficits, Golden Tag Resources Increases Silver Resource with the La Parrilla Silver Mine Acquisition

Published on: April 26, 2023
Author: Philip Tai

The silver market is entering a new era of supply deficits, according to an article in The article highlights several key factors, including increased demand for silver in the green energy and technology sectors, declining silver production, and decreasing stockpiles of silver. The result is a market where supply cannot keep up with demand, leading to higher silver prices.

Silver Supply Faces Deficit from Increased Tech Demand

One significant factor driving increased demand for silver is its use in solar panels, electric vehicles, and other green energy technologies. These sectors are experiencing rapid growth and are expected to continue to drive demand for silver for years to come.

At the same time, silver production has been declining, with several large mines either closing or experiencing production issues. The COVID-19 pandemic has also had a significant impact on silver production, with many mines shutting down temporarily or operating at reduced capacity.

In addition, stockpiles of silver are decreasing, with significant drawdowns in recent years. This has put pressure on the market, making it more difficult to meet demand.

The combination of these factors has led to a market where supply cannot keep up with demand, resulting in higher silver prices. With the green energy and technology sectors continuing to grow, and silver production struggling to keep pace, the silver market is likely to remain in a supply deficit for the foreseeable future. This presents an opportunity for investors looking to capitalize on the potential for higher silver prices in the coming years.

Golden Tag Increases Silver Resource with Acquisition

Golden Tag Resources Ltd. (TSXV:GOG) has resumed trading on the TSX Venture Exchange under the ticker symbol “GOG” following the completion of its acquisition of the La Parrilla Silver Mine Complex in Mexico. The acquisition marks a significant achievement for Golden Tag, positioning the company as a top-tier silver producer in a region with proven geological potential.

The La Parrilla Silver Mine Complex is located in the prolific state of Durango, Mexico, and has a long history of silver production. Golden Tag’s acquisition of the property includes three underground mines, a flotation mill, and multiple exploration targets. The acquisition also includes a significant mineral resource base, with measured and indicated resources totaling 72.8 million ounces of silver equivalent, and an additional 39.2 million ounces of inferred resources.

Golden Tag’s management team brings extensive experience in the mining industry and a track record of success to the La Parrilla Silver Mine Complex. The team is focused on maximizing the potential of the property through exploration and development activities, with a goal of increasing the resource base and extending the mine life. With the acquisition of La Parrilla, Golden Tag is well-positioned to deliver value to its shareholders and become a leader in the silver mining industry.

Investors looking to capitalize on the potential of the silver mining industry should keep an eye on Golden Tag Resources Ltd. The company’s acquisition of the La Parrilla Silver Mine Complex provides exposure to a high-quality asset with significant exploration potential, backed by a seasoned management team with a proven track record. As the global demand for silver continues to rise, Golden Tag is well-positioned to deliver long-term value to its shareholders.

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