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Michael Steinmann

Michael Steinmann

CEO of Pan American Silver

Oct 23, 2026

12:20
We want you to do some more growth, more inorganic growth.
12:23
Right, and it doesn't preclude me not to do that.
12:25
I mean, there's enough, as I just mentioned, we have over three billion or three and a half billion dollar liquidity right now.
12:32
There is room for everything right now.
12:33
That's obviously an incredible situation that we never had in the mining space.
12:39
And so let's take advantage of that to provide those returns and still look around what there is.
12:46
I said we have a big, big organic growth in the company.
16:12
So my question was, you know, how difficult is it to build and operate a big silver mine?
18:51
So what is driving silver to these record levels?
18:54
Well, there's really two things to silver, right? A, it's a really important metal for the economy.
19:01
It's a critical metal actually right now declared in the U.S. as a critical metal and added to the critical strategic list for metals in November.
19:11
So you have a lot of uptake on the industrial side.
19:13
About 65 percent of the silver is used up for that.
19:17
The biggest use is solar panels.
19:19
production.
21:10
As you mentioned, that certainly has driven a lot of valuations and it's starting to drive some questions.

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