Mar 12, 2019 Guest(s): Darren Blasutti CEO, Americas Silver Corp.
Americas Silver has shifted its focus from base metals back to silver following the acquisition of Pershing Gold, in line with the company's belief that silver prices have more room for improvement, said CEO Darren Blasutti.
"We thought selling silver at $14.50 an ounce wasn't the greatest move in the world. We'd like to leave the silver for when silver prices are high. So we've seen silver move a bit. I think if gold continues to go silver is going move quite rapidly," Blasutti told Kitco News on the sidelines of the BMO Global Metals & Mining Conference in Florida.
Prior to the acquisition of Pershing Gold in October, Americas Silver's production consisted of 75% base metals and 25% silver. The acquisition allowed the company to shift production to 70% silver and gold, Blasutti said.