Classic case of shortages in response to artificial price fixing, regardless of the source or mechanism. A government sets an artificially low price on a certain type of produce, or forces farmers to accept worthless fiat on a volatile drop - the farmer would rather store it, give it away to friends or use it himself in response. He has no logical or compelling reason to be forced to incur a loss - fer da gud of da Ponzi scheme. No different with mining. They cannot be forced to sell simply because the market artificially "dictated" a value in the volatile moment. They can wait like everyone else and sell on the highs only.
It's interesting, because if silver paper is tested and the value of silver causes paper to be demolished, as demand for physical silver goes up, silver miners will be in a position to sandbag just like everyone else. That will take silver out of circulation no differently than physical silver that was bought and likewise taken out of circulation.
^^ I think we already did see some of this during the last big price drop. Some dealers played games with the spot they were quoting (either misquoting or changing from the bid to ask quote), some upped their premiums a little and some jacked around with their S&H charges (less transparent). I wasn't scrutinizing the scene that closely, but I wouldn't be surprised if some withheld inventory. I heard tales of local coin shops that refused to sell until the spot price recovered.
^^ Wait until the paper destruction comes and all of this factors into why, ultimately, nobody can get their hands on physical at any fiat currency price. Whatever they're all doing now during lows and highs will be multiplied and on crack!