SSRIF Silver Standard Resources Message Board

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Gold/Mining/Energy : SSRIF Silver Standard Resources

SSO 59.29

-0.7%

Jan 30 4:00 PM EST

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To: philv who wrote (128)	1/2/1998 7:08:00 PM
From: Dundee Maples	of 403

Thanks philv. Very interesting article. I particularly liked. "As he spoke in the days between Christmas and New Year's, Tierney pointed out that open interest in March silver was nearly 70,000 contracts, yet the COMEX warehouse stocks on hand were only equivalent to around 22,000. Furthermore, he said, some of the 110 million ounces that are on hand are probably not even available for delivery, because it's being stored for long-term safekeeping or obligated against outstanding loans. He added that some silver in banks has old markings so that it may no longer even comply with delivery requirements. He also pointed out that a couple of major banks are no longer depositories for silver, presumably because the quantities had become so small that they were having trouble covering costs. "

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