EPISODE · Jul 12, 2017 · 21 MIN
Keith Neumeyer | Silver's "Flash Crash" on 7.6.17
from Mining Stock Education · host Bill Powers
In this interview Keith Neumeyer, President and CEO of First Majestic Silver Corporation, shares his perspective on last week’s silver flash crash. On July 6, 2017 at 7:06pm EST, September silver futures contract prices fell 10.7% from $16.06 US to $14.34 US. This drop occurred all within a one minute interval. In the subsequent two to three minute period the silver price rebounded about 11% to $15.90 US. In that four minute time period 40 million notional ounces of silver were traded, which is the equivalent of 4.4% of the annual mine supply. Why did this occur? Who or what caused it? Can such an occurrence be prevented in the future? Keith answers these questions and more.Keith Neumeyer has worked in the investment community since 1984. He began his career at a number of Canadian national brokerage firms. Keith then moved on to work with several publically traded companies in the resource and high technology sectors. His roles have included senior management positions and directorships responsible in areas of finance, business development, strategic planning and corporate restructuring. He was the original and founding President of First Quantum Minerals Ltd. (T-FM). Keith founded First Majestic Silver in 2002 and First Mining Finance in 2015. He has also listed a number of companies on the Toronto Stock Exchange and as such has extensive experience dealing with the financial, regulatory, legal and accounting issues that are relevant in the investment community. Keith also won the E&Y Entrepreneur of the Year Award in 2011 for the Metals & Mining category.0:05 Introduction of topic and guest0:52 Keith’s take on silver’s recent flash crash3:00 Could a margin call even trigger such a flash crash?4:44 The biggest losers of a flash crash & silver manipulation6:03 London silver fix criminal incident last January 20167:42 Thoughts on regulation and silver manipulation8:57 “Protecting your book” vs. manipulation10:45 How can a mining CEO sell for the highest silver price?15:29 Discussing First Majestic Silver18:44 Keith offers mining stock investing advice
What this episode covers
In this interview Keith Neumeyer, President and CEO of First Majestic Silver Corporation, shares his perspective on last week’s silver flash crash. On July 6, 2017 at 7:06pm EST, September silver futures contract prices fell 10.7% from $16.06 US to $14.34 US. This drop occurred all within a one minute interval. In the subsequent two to three minute period the silver price rebounded about 11% to $15.90 US. In that four minute time period 40 million notional ounces of silver were traded, which is the equivalent of 4.4% of the annual mine supply. Why did this occur? Who or what caused it? Can such an occurrence be prevented in the future? Keith answers these questions and more.Keith Neumeyer has worked in the investment community since 1984. He began his career at a number of Canadian national brokerage firms. Keith then moved on to work with several publically traded companies in the resource and high technology sectors. His roles have included senior management positions and directorships responsible in areas of finance, business development, strategic planning and corporate restructuring. He was the original and founding President of First Quantum Minerals Ltd. (T-FM). Keith founded First Majestic Silver in 2002 and First Mining Finance in 2015. He has also listed a number of companies on the Toronto Stock Exchange and as such has extensive experience dealing with the financial, regulatory, legal and accounting issues that are relevant in the investment community. Keith also won the E&Y Entrepreneur of the Year Award in 2011 for the Metals & Mining category.0:05 Introduction of topic and guest0:52 Keith’s take on silver’s recent flash crash3:00 Could a margin call even trigger such a flash crash?4:44 The biggest losers of a flash crash & silver manipulation6:03 London silver fix criminal incident last January 20167:42 Thoughts on regulation and silver manipulation8:57 “Protecting your book” vs. manipulation10:45 How can a mining CEO sell for the highest silver price?15:29 Discussing First Majestic Silver18:44 Keith offers mining stock investing advice
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Keith Neumeyer | Silver's "Flash Crash" on 7.6.17
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