Silver’s price is surging, fueled by an extraordinary confluence of technical breakout, institutional awakening, and a rapidly evolving geopolitical chessboard. In just 31 hours after spot silver pierced the $45 mark, it shot effortlessly to $46—moving like a “hot knife through butter”. This momentum isn’t merely a chart anomaly, but the culmination of forces driving silver toward a historic quarterly closing high, pointing to the type of sustained rally often seen after major “cup-and-handle” technical breakouts.
The Market’s Awakening
With silver miners up 117% this year, the sector is on fire. Yet, even after these dramatic gains, silver equities remain undervalued compared to their gold-mining counterparts. Most silver producers still extract at less than $20 per ounce, meaning today’s prices offer margins that could fuel aggressive expansion and investment. This backdrop sets the stage for industry transformation: government and institutional support for mining isn’t just passive—it’s about to be supercharged with massive capital rotation out of overpriced tech stocks and into hard assets. Expect to see strategic stockpiling, tax breaks, expedited permitting, and subsidy flows at unprecedented levels, since securing silver and related resources has become existential for many economies.
Geopolitics: Unprecedented Realignment
Beneath the surface, hostile international dynamics are reshaping demand. US-driven trade and kinetic conflicts with Russia (via Ukraine) and broad swathes of the Middle East (via Israel) have backfired, accelerating de-dollarization. Biden’s sanctions, intended to strangle Russia, instead lit the fuse for new commodity-payment systems between Eurasian powers, as Sergey Glazyev and Zoltan Pozsar have detailed—the use of gold to buy oil being just one example.
Meanwhile, President Trump has ramped up economic warfare with punishing tariffs—50% on India, $100,000 per H1B visa, 100% tariffs on pharmaceuticals. These moves target India, now the world’s most populous country, and exacerbate US vulnerabilities, notably its 91% reliance on imported silver. The world’s biggest countries (China, India, Russia, BRICS) have pivoted to strategic accumulation, drawing stocks of silver and other resources out of Western hands.
The Power of Precious Metals
The analogy of a woman’s purse—averaging about 6.27 pounds, or 2,845 grams—is striking when viewed through the lens of gold and oil equivalency. That weight converts to about 91.43 troy ounces, enough gold to represent 2,845 barrels of oil at current transactional rates.
The mind-bending implication here: physical gold provides unrivaled portability, divisibility, and fungibility, serving as a bridge between personal financial sovereignty and the bedrock commodities that fuel civilization—energy for homes, businesses, industrial production. Let’s build this visual image, one could walk around target with the equivalent of 2,845 barrels of oil (contained in a typical purse) Now think of a backpack and you would be walking around with over 5,000 barrels of oil. Now do you see why most of the world is accumulating while the fiat overlords in US and Europe are tossing around nonsensical “Gobledygook” and other new terms like “stable coin” (neither stable, nor a coin)
The Silver Squeeze
All these trends converge to create the underappreciated phenomenon: the “silver squeeze.” As global actors scramble to build reserves, and financial flows pour into mining, the available supply is sucked into Asia and Eurasia, further tightening Western inventories and setting the stage for structurally higher prices. With governments and institutions now prioritizing mining as a strategic imperative, and silver’s technical setup flashing historic signals, the probability of a sustained upward move appears stronger than ever—yet mainstream markets are only beginning to grasp its magnitude.
Silver’s explosive move is not just about a commodity rally—it’s the intersection of technical, monetary, political, and strategic forces. The next era will be defined by silver’s scarcity, its critical industrial role, and the race to secure assets as power shifts eastward. For those paying attention, silver’s story is just getting started.
Career milestone
Yesterday I was watching my silver mining positions and noticed something I had not witnessed throughout my career as silver and gold news reporter. Aya was down about 16% because some shadowy group of short sellers calling themselves “Blue Orca” took to their nefarious playbook of latching on to some technical stat from 2021 to create a short selling panic.
I smelled a rat from the get go.
First step I took was to write the CEO of Aya a personal email, it went just like this
Dated Thursday September 25, 2025 around 3pm EST
Mr. LaSalle,
I want to express complete loyalty to Aya Gold & Silver and absolute support for your leadership. My confidence in Aya is unwavering, especially given your track record of transforming mining companies and consistently delivering shareholder value. In light of today’s events, my resolve has only strengthened. Blue Orca’s attack, relying on outdated 2021 data in almost 2026—timed suspiciously with an unprecedented surge in short positions against SLV, GLD, and PSLV—appears highly coordinated and deeply questionable. The short position in SLV soared by 67%, while both GLD and PSLV showed serious surges in short interest, clearly orchestrated on the same business day as their claims.
I have no doubt Aya will prevail, and I stand firmly with your vision through every challenge. If there is anything you need, please let me know—I am here with unconditional support. Aya’s future is brighter than ever.
I built my career digging where others refused to look. My first breakthrough came from tracing the roots of money itself—not as a noble replacement for barter, but as a weapon of war. The earliest coins weren’t used to replace barter but markets emerged wherever soldiers were stationed; they were minted to pay soldiers during the Peloponnesian War. That discovery became the backbone of my “Precious Metals Warfare Theory,” a piece that defined my voice and put me on the map.
From there, I exposed the military’s hidden reliance on silver, the U.S. government’s decision to quietly stop reporting Department of Defense stockpiles, and, most recently, Mexico’s Morena Party rewriting the future of mining policy.
But the story I uncovered this time wasn’t buried in history books or government archives—it was unfolding in real time, in our markets, under our noses.
The suspect: Blue Orca.
The crime: weaponized fear.
Their game is as simple as it is sinister. Time their hit pieces with precision. Stoke panic. Exploit chaos. Cash in on the plunge. And the timing was just a little too perfect to ignore. On the very day Ed Steer documented an explosion in short positions on SLV and GLD, Blue Orca was already lighting the match. Coincidence? Or choreography?
I didn’t have to look far for the answer. When I retraced their steps across the markets, the pattern was unmistakable. Four or five times before, Blue Orca had executed the exact same scheme on other mining companies: target them, smear them, profit from the fallout. Each act follows a script—aggressive claims dressed up as “research,” dropped at the moment of maximum short exposure, ensuring maximum damage. What the public sees as analysis is nothing more than a weaponized narrative, engineered not to inform, but to destroy.
This is not journalism. This is not investment research. This is market warfare. And like every war, there are generals orchestrating from the shadows, and casualties left in its wake.
Then we did something insane, we told our readers in two separate reports last evening to BUY THE DIP, this is prior to Aya issuing their substantive and superb response to the Blue Orca scam.
We stated if WE ARE WRONG, THEN SMEAR OUR NAME AND UNSUBSCRIBE. It was a gigantic gamble because most marketers stay out of such “hot points” and wait to see who comes out on top. But like I messaged to some of my peers at Dolly Varden Silver, Kuya, Silver47 and others “when you mess with one of us via unethical, baseless and dangerous market manipulation schemes, you mess with us all”
Now let’s see how Mr. Market is reacting today RE Blue Orca’s reckless and irresponsible stunt
Bet they rejected BLUE ORCA (who will get their faces ripped off)
for those who listened to my Tip of the year, they are up about 15% today, pretty good move (it’s going much higher by the way)
Aya’s response to the “short selling company” aka BLUE ORCA
Montreal, Quebec, September 25, 2025 – Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) strongly refutes the misleading and inaccurate claims contained in the short-seller report.
The report contains numerous inaccuracies and mischaracterizations, including about Aya’s current management team, operations, and resource base, which the Corporation believes are intentionally misleading and are intended to benefit the short seller, which has itself disclosed that it stands to profit in the event that the Corporation’s share price declines, at the expense of Aya shareholders.
Key Facts
Reliability of Resource Model Confirmed by Silver Ounces Mined since 2021
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Since 2020, Aya has produced over 10 million ounces (“Moz”) of silver (“Ag”), with mined ounces consistently reconciling against the published resource estimate.
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Silver production continues to align with reserve estimates, reinforcing the strength, reliability, and credibility of Aya’s resource base.
Extensive Drilling Strengthens Resource Model and Confidence
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The March 2021 resource model was supported by 76,000 meters (“m”) of drilling, which expanded to 121,500 m by December 2021 (+45,500 m). This robust dataset formed the foundation of the current Zgounder resource model.
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From December 2021 to June 2025, Aya completed an additional 231,000 m of drilling, significantly increasing confidence in the resource base.
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Drilling continues to identify extensions of mineralization at Zgounder and regional targets, highlighting strong exploration upside and growth potential beyond the current mine footprint.
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This substantial, ongoing drilling program provides the critical data underpinning the upcoming resource update.
Independent, Third-Party Verified Resource Estimates
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Zgounder’s mineral resource estimate was prepared and verified by independent Qualified Persons at P&E Mining Consultants Inc. (“P&E”) in compliance with the standards set forth in National Instrument 43-101- Standards of Disclosure for Mineral Projects and have been confirmed through rigorous third-party review.
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Before providing a construction loan for the Zgounder expansion project, the European Bank for Reconstruction and Development, hired an independent technical advisor which confirmed the existing resource, reflecting its confidence in Aya’s estimates and operating credibility.
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Updated Zgounder Technical Report on Track for Q4-2025
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Aya is in the process of completing an updated technical report for Zgounder. The updated technical report includes an updated, independently modelled resource, along with a new mine plan which will incorporate both open-pit and underground operations.
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As planned and previously communicated to the market, this updated technical report, expected to be published before year-end, will demonstrate the strength and longevity of the asset.
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Strong Cash Flow and Balance Sheet
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Aya has a robust balance sheet with approximately US$115 million in cash and generates operating cash flow from Zgounder.
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This financial strength allows Aya to self-fund growth and invest in Boumadine. A Preliminary Economic Assessment (“PEA”) for Boumadine remains on track for release before year-end.
The allegations made against Aya are categorically false. Zgounder’s mined ounces reconcile as expected, our mining methods and operating practices continue to improve, and we are finalizing an updated technical report that will integrate both open-pit and underground operations,” said Benoit La Salle, President & CEO. “Recent drilling continues to confirm extensions at Zgounder, while Boumadine is advancing rapidly as a tier-one growth asset. Backed by strong cash flow, rigorous governance, transparency, shareholder alignment, and independent third-party verification, Aya is firmly focused on disciplined execution and long-term value creation.”
While short reports may make provocative claims, Aya rejects irresponsible speculation and stands by its technical, operational, and disclosure integrity. The Corporation urges all investors to consider the full body of public evidence, historical drill record, and independent documentation before drawing conclusions. Aya remains committed to unlocking the full value of Zgounder and delivering long-term value for shareholders.
While Aya’s primary focus remains on delivering operational performance and transparent disclosure, the Corporation will not hesitate to pursue appropriate remedies should it determine that false or misleading information has been disseminated in a manner that harms its shareholders or operations
view the original news release on Aya’s website and picked up by ancillary media
https://ayagoldsilver.com/press-release/aya-gold-silver-categorically-rejects-the-erroneous-and-misleading-allegations-made-against-the-company/
More context
Blue Orca’s current campaign against Aya Gold & Silver is part of an established pattern—the firm has a long history of launching aggressive short-selling reports targeting mining companies, particularly just ahead of large, coordinated market moves in short interest that benefit its positions. The timing and the use of outdated data from 2021 in its Aya attack amid a sudden surge in shorting of major silver and gold ETFs (SLV, GLD, PSLV) strongly suggest a strategic and possibly coordinated effort to tank market sentiment for maximum trading profit, rather than a genuine concern about mineral resource estimation integrity.
Blue Orca’s Track Record in Mining Short Campaigns
Blue Orca has repeatedly issued high-profile short-seller reports against mining and resource firms:
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Atlantic Lithium: Alleged illegal payments to Ghanaian political figures for mining rights, directly impacting the company’s ability to operate and damaging investor confidence.
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Aya Gold & Silver: Accused of inflating silver reserves by over 100% using a 2021 resource estimate prepared by an associate of the CEO, rather than an independent geologist.
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Enviva: Filed an October 2022 report that led to a drop in stock price by alleging “greenwashing” and misrepresentation of environmental practices.
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GDS Holdings: Accused of misstating occupancy rates, a claim later rebutted by the company.
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MINISO: Attacked the company with allegations of poor disclosure in its July 2022 report, which the company defensive refuted.
Historic Silvercorp Parallels
The Silvercorp incident referenced dates to an older controversy, involving allegations of fraud and resource exaggeration. While Blue Orca was not named in regulator filings at the time, the playbook matches Blue Orca’s approach: timing short attacks with negative allegations, amplifying market panic, and attempting to profit from drops in share price.
Evidence of Strategic Timing
Blue Orca typically releases its short reports:
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Immediately before or during periods of sudden increases in short interest in related securities, demonstrating a pattern of market manipulation or at least highly opportunistic trading.
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Utilizing old or questionable data, often selecting points that maximize controversy rather than deliver genuinely actionable criticism—the use of Aya’s 2021 mineral resource data in late 2025 is a vivid example.
Motivation and Coordination
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Blue Orca admits bias and acknowledges it takes short positions before its reports are released, thus benefiting directly from ensuing share price crashes.
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Its history reveals a tendency to orchestrate its attacks to coincide with synchronized market moves (ETFs, companies), reinforcing suspicions about the coordination.