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Old 04-11-2014, 07:43 AM   #1
Golden Cockroach
 
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U.S. mined silver output continues to fall--USGS

Quote :
U.S. mines produced 80,900 kilograms (2,600,995 troy ounces) of silver in November 2013, a 14% decrease from the 94,300 kg (3,031,815 oz) produced in November 2012, the U.S. Geological Survey reported.

Monthly silver production continued on a downward trend that began in June 2013, the USGS observed.
...
http://www.mineweb.com/mineweb/conte...7157&sn=Detail

Is it because spot is too low for them to make a profit, or another reason?
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Old 04-11-2014, 09:29 AM   #2
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If you can't get a fair price, then why mine it at all??
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Old 04-11-2014, 12:40 PM   #3
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So if production is being cut, demand is rising, both for industrial and bullion, how can it stay at around $20 for so long? Seems awfully fishy. I'll keep stacking till they figure it out. Then I'll probably stack some more anyway.
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Old 04-14-2014, 09:12 PM   #4
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SRSrocco reports that the miners' numbers do not match with the USGS numbers, in fact the miners' numbers show an increase in production rather than a decrease.

http://srsroccoreport.com/top-silver...are-incorrect/

However, SRS still holds to their prediction of peak silver in the very near future, tied to the concept of peak oil.
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Old 04-15-2014, 07:31 AM   #5
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Well now. The numbers are a lie? Who would have thunk it? Why can't the USGS or WGC seem to put out some credible numbers?
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