Ann: Quarterly Activities / Appendix 5B Cashflow Report, page-16

Yes, they are going to have to fund some up and coming mines, because these job losses in closing mines in Li, Ni, Cu etc are going to need to go somewhere in the next few years. Silver looks like one of the safest commodities to invest in because it’s always going to hold its value in the current economic and geopolitical situation. Plus it’s important to green energy tech which current governments love. If you believe lead will reverse off low prices as love is lost in other battery metals then that makes NAIF even more likely imo.