Glenn Jessome argues that silver and gold are setting up for a major multi-year bull run, driven by an eventual easing of Middle East/oil-driven fear trade and a re-rotation back into precious metals. He also says Silver Tiger is fully funded, building its LT Gray surface mine, and has a clear path to a second underground project and a third expansion area through further drilling.
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This interview is primarily a bullish thesis on precious metals, especially silver, with Glenn Jessome framing the current volatility as a pause in a much larger run. He compares today’s setup to the 1970s oil shock aftermath, arguing that once the Middle East/oil fear trade subsides, capital will rotate back into gold and silver. He repeatedly stresses that silver is still cheap relative to where he thinks it can ultimately trade, though he stops short of personally calling for $200 silver. The second half of the conversation is a detailed company update on Silver Tiger’s LT Gray project in Mexico. Jessome says the company received its permit in November, selected KCA Norte as EPCM partner, and is now pushing to build the heap-leach surface mine on schedule with first doré bar targeted for October 2027 / first pour in 2027. …
Near term, silver and gold may stay volatile until the Middle East/oil-driven risk trade cools, so the immediate setup is for choppy consolidations rather than clean trend continuation. For Silver Tiger, the actionable catalyst is construction and drill updates, not a financing stress story.
Over the next few months, the base case is that precious metals regain momentum if geopolitical stress fades and price action confirms that demand has returned. Silver Tiger should increasingly trade on build execution, underground de-risking, and drill success if those milestones keep landing.
Structurally, Jessome is betting that precious metals are entering a multi-year bull regime similar to the aftermath of prior energy shocks. If that proves right, developers with permitted, funded projects in stable mining districts could see outsized operating leverage and valuation re-rating.
The current setup resembles the aftermath of the 1970s oil shock and could precede a long precious-metals bull run.
He explicitly compares today’s market to the 1970s and says history “repeats” in precious metals after the shock fades.
Once the Middle East/oil trade settles, capital should rotate back into precious metals.
He argues the current fear trade is suppressing silver and gold and that the trade will “flip back.”
Silver at roughly 75–77 is still an attractive price for a company building a mine today.
He repeatedly says the current price is very good economics for builders, even after the recent spike and pullback.
Can you give our audience who's anxious about the volatility in silver and gold some peace of mind about what's happening?
Glenn compares the current setup to the oil shock of the 1970s, arguing that history repeats and the stage is set for a long precious metals run. He says the Middle East conflict is acting as a 'black hole' pulling attention away from metals, but once resolved (likely via a Trump deal), capital will flood back into gold and silver. He notes that even at current silver prices around $75, it's incredible pricing for building a mine.
Are you surprised that silver hasn't pulled back more given it went from $120 to $75?
Glenn says he's not surprised — his group planned LT Gray around $30-35 silver, so $75 feels incredible. He does a 'little dance' at these prices. The group is very conservative and always plans for the worst case, but they see massive upside once the Middle East situation settles. He references major banks predicting $200-300 silver.
What's the latest update on the LT Gray project and Silver Tiger?
Glenn says they received the new surface mine permit in November and immediately shifted from hoping to building. The biggest news is the January 2027 line-in-the-sand date: commissioning in October 2027 and first Doré bar poured. He recounts a story from VR where silver hit $120 and the room was euphoric, he warned everyone a correction was coming and got booed — and it played out exactly as he predicted.
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