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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: marynell who wrote (652)	11/27/2001 12:42:41 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 39344

Marynell, I have stopped trying to understand and decided that no matter what, one day, soon, the market would come back. Since I currently accumulate BAY which will be cash flow + at the current silver price, I don't need to ask my self these questions anymore.

To: marynell who wrote (652)	11/27/2001 1:14:06 AM
From: russet	Respond to of 39344

Interesting article in the Northern Miner (Nov26-Dec2/01) reporting on a presentation given to the New York N.Y. based CPM Group,...the author is the associate director of marketing and research for the Institute of Scrap Recycling Industries in Chicago, Ill. Some comments paraphrased,... Scrap supply accounts for between 10% and 30% of total market supplies in major precious metals markets. Gold: Mine production 66% supply, secondary supply(don't specify percent but I assume something between 10% and 30% from above) from melting down jewelry, coins, bars and some electronics etc. in 2001 scrap totaled 22 million oz (19 million from jewelry, 2 million from coin and bars, 1 million from electronics). Silver: Scrap accounts for 30% supply, 2001 estimates for 208 million oz scrap so total supply about 690 million oz. Of the 208 million oz, 192 million oz from old scrap and the remainder from melted down coins, bars an scrap from India. Old scrap has been rising for the past decade because as more uses for silver propagate, more silver is recovered from scrap. Breakdown of scrap for silver, 80-90% spent photographic materials and films, 6-7% old electronics and batteries, 3-14% other silver crap.