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(Kitco News) - Silver faces serious supply constraints, and although most people may not realize, it is a very rare metal that should be trading in the triple digits in price, this according to Keith Neumeyer, CEO of First Majestic Silver.

“We’re mining eight to one, so for every one ounce of gold that’s being mined worldwide, we’re only mining eight ounces of silver. Silver is extremely rare and people don’t get it,” Neumeyer told Kitco News on the sidelines of the Denver Gold Forum. “People think silver is in abundance, but it’s not.”