Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (3140)	12/16/2000 12:03:03 PM
From: goldsheet	Read Replies (2) \| Respond to of 8010

> Was Bob's 500M production just for "Western" companies? The number was 546.8 in 1999 and includes China at 44.2 silverinstitute.org > are they dumping stockpiles I recall reading somewhere that China apparently dumped 60 million ounces from stockpiles so far this year.

To: TheBusDriver who wrote (3140)	12/16/2000 12:10:14 PM
From: Alan Whirlwind	Read Replies (1) \| Respond to of 8010

I will try to dig up some links later today. Russia in my opinion has dumped their stockpiles already. They did it when silver was over $6--at least that's my guess. They also produce, but their infrastructure is sorry and it will be less and less. Nobody wants to go into the former Soviet Union to invest in mining either because of the risk of nationalization after mines are refurbished--look at Goldbelt for example. Their entire Kazak operation was lost this way and they lost 95% of their share value. Phillipines and other countries also have dumped, but I think that small fry supply is about exhausted. Much of it may have been leased out. Who knows what kind of derivatives are involved with such temporary swapping of metal. China has dumped 70 million ounces last I heard and in my view, the markets absorbed it all with minimum damage. Of course, the present price undoubtably represents damage to some. China will probably reach a point where they consume what they produce. It's still looking bullish. When oil was at $11 a barrel there where prophets telling us how it was going down to $5. I suppose silver could spike down to $4.25. But the upside outweighs the downside by quite a margin.

To: TheBusDriver who wrote (3140)	12/16/2000 12:28:29 PM
From: goldsheet	Read Replies (1) \| Respond to of 8010

You might want to read the full CPM press release, but the following gives you a rough idea the gap is about 100 million ounces. cpmgroup.com Click on the fourth item down, "Silver Survey 2000", it's a .doc file "The physical silver market operated in a deficit for the tenth consecutive year in 1999, with newly refined supplies falling short of industrial demand by 120.2 million ounces. This reflects a narrowing of the deficit from 179.4 million ounces in 1998. In 2000, the net deficit in the bullion market is projected at 92.4 million ounces. At the end of 1999, bullion stocks are estimated to have totaled 331.1 million ounces, while investor holdings of silver coins totaled 425.5 million ounces."

To: TheBusDriver who wrote (3140)	12/16/2000 6:54:53 PM
From: Alan Whirlwind	Read Replies (1) \| Respond to of 8010

silverinstitute.org The Placer Dome Chimberos project was supposed to be a two year project with substantial declines in production thereafter. Australia does have large silver projects, but all said and done, primary mine production of silver accounts for less than 25% of total silver used. China uses about 100 tonnes of gold per year. Coming possible deregulation in accord with negotiations with World Gold Council could lead to a tripling of that consumption. I would think silver consumption also would rocket. biz.yahoo.com