So with Silver at $108 per oz, what does that mean for silver mining stocks?

They are likely selling mined silver at $108 per oz this week. Cost of mining is $20 per oz. Taxes are likely 1/3 of gross profit.

$108 - $20 = $88.

Net free cash flow is about $60 per oz for most miners. They are each different.

1 year ago, when silver was at $30 per oz and their costs were $20 per oz, they might have had about $5 to $7 per oz in free cash flow.

The numbers on earning for these companies will be crazy high. And the longer prices stay at these levels, the more cash rolls in. Debt gets retired. Dividends increase. Share buybacks.

So the best are going to be those that are already producing and profitable, plus they can grow their production.

One of my favorites is Aya Gold & Silver.

Ticker: AYASF 🇺🇸 AYA 🇨🇦

6 million oz of silver being produced now. Likely over $300+ million per year in free cash flow during 2026. And they are building their next mine Boumadine (2030) which will be 6x larger than their 1st mine, Zgounder.

Another is Silver X, which mines in Peru. Peru has the largest silver reserves on the planet. Silver X is producing 1 million oz of silver now, and planning expansions to reach 6 million oz per year.

Ticker: AGXPF 🇺🇸 AGX 🇨🇦