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

To: crm114 who wrote (4452)	1/13/2002 11:27:50 PM
From: IngotWeTrust	Read Replies (3) \| Respond to of 8010

You may be interested to know there are only about 70 full-time gold recyclers in the USA. CNBC's talking heads interviewed a dude from Chicago on live TV about 3 years ago. He cleared $7 million in 1996, just recycling electronic scrap, that's what he told CNBC. I have it on video tape. He was written up in the paper a few weeks after the CNBC article. Richard Harmon aka long-gone sent me the clipping. The Chicagoan's name is Davis Gilbert. His company: Electronic Recovery Specialists, is on Chicago's "gritty West Side." He has 11 employees. His company was founded in 1979. The story was picked by Associated Press and was titled: Computers: a gold mine for a recycler. The freelance write was: David Dishneau. There are two big recyclers in Portland OR alone who clear several million a year as well. I'm on first name basis with one of them. In fact, I learned some of my tricks of the trade from talking to him. Sharp dude. Then there was the story #78643 from the independent.news.com released onto their website 6/18/2001 about Craig Baron doing roughly the same thing Chicago's Gilbert is doing, only in Neath, West Glamorgan, with a grant he secured from the Welsh Development Agency. He calls HIS business: Precious Metals Industries or PMI. If Bob Johnson would be so kind (purdy please?) perhaps he'd post on this thread from the annual World Gold Council or the annual Goldfield's Mineral Report, the total recycled ounces for the last 3 years by annum. Three years ago it was 18,000,000 ounces of gold recycled--which is the last report I have, the 1998 number...And think of it this way: recycled gold is already above ground, refined once, discarded gold for whatever reason. And that 18Mil oz works out to roughly 5 x Barricks annual production from below ground mining. Fun thing about this business...we don't have to sell the gold we recycle...it only becomes a taxable/reportable event upon sale. We can store the "fruits of our labors" until the cows come home and no one gives a shit. Pretty cool system. Want that Chi-town recycler's name? The reason why I KNOW silver is stockpiled and sitting around is because I, as a gold recycler, have it sitting around and every coin dealer and film processor and printer fixative processor I know has buckets of it sitting around as well, waiting for prices to go higher before we'll waste our time pouring it into dore' and refining it to good delivery quality for flowing into the market. Secondly, the reason why there is so damn much silver sitting around in processors hands is this: gold is usually plated on a substrate system, consisting of copper/nickel or tin/silver and gold. Since the first 3 layers are very very cheap applications, it is customary to pull 10 x the silver ounces out of a gold recycling business as we recover gold oz. So, let's extrapolate a bit for the sake of rhetorical argument: 18 million oz, give or take of recycled gold ounces acc'd to the GFM folk annual report. Lets say just 5 mil ounces are plated gold application say in electronics and plated jewelry...that works out to 50 million oz of silver sitting around in this nation's precious metals recyclers just waiting for higher prices to entice us to mess with it vs let it sit around in solubized forms. That's 1998's GFM number ... There's 1999's 50 million silver oz sitting around There's 2000's 50 million silver oz sitting around There's 2001's 50 million silver oz sitting around... get the picture? Above ground, solubized, warehoused silver is NOT in a short supply. Unmined silver is NOT in short supply. I could give you about 2 doz equity fundraiser names in Montana alone, who are sitting on tremendous silver deposits, that can't get the financing to put them into production, but all have hired or consulted with the same little western Kansas/family man web creator buddy of mine about putting their penny stock story on the 'net, hoping to scare up funding of some kind. Above ground hoards in private hands are NOT in short supply. And then there is Argentina's stockpiles currently being withheld from the "good delivery" marketplace in my opinion. That's my logic and my experience and my perspective, and I'm stickin' to it... Oh, and while I have your attention: my SI profile refers to the writing and teaching I have done personally, as a "CRUSADER FOR GOLD RECYCLING"-vbg-- on this subject of recycling precious metals for low costs for 12 years now. I'm very much about enlightening and "enrolling more entrants"... the piles of discarded gold and silver and platinum and palladium is pretty damn staggering, annual, and it's all hands on deck as far as I'm concerned. Hustle up, now and get your share! If you want me to show ya'how...it'll cost ya<grin> gold_tutor