Post by
NaturalResource on Nov 18, 2013 1:17pm
Has this been noticed?
I was looking through Q3's Report and one bullet point caught my attention and made me start thinking and wondering. I'll point it out and add a thought:
Bullion inventory at September 30, 2013, included 53,131 ounces of silver and 1,819 ounces of gold.
[This STOCKPILE if it were Sold at that time would equal approx, $2.45MM Gold & $1.17MM Silver, Total=$3.62MM approx. but Withheld, and I hope its intentional and you continue to withhold a portion of at least 10% Production each QTR to build Up the Stockpile.
This was something Goldcorp had intentionally done in the 2001-2004 period accumulating over 8 Tonnes of Gold, more than the Canadian Gov had, and many other countries also. Unfortunately they sold it all prior to McEwen leaving and Gold breaking through the $500 mark, but still at a Higher price than if they would have sold it each QTR.
I also noticed the amount withheld is near 20%, a tad less for Silver and a bit above 20% for Gold, so I'm wondering if this is a Plan, because I can see how Added Income can be made each QTR by simply Selling CALL Options at a Higher STRIKE Price. You either get to keep the Premium or let it go at the Higher Price...sounds good]
Comment by
black364 on Nov 19, 2013 11:02am
I'm not sure but there may be a hangover of gold and silver at the end of every quarter. The mine continues to churn metals daily so it may be a case of not being able to ship in time to be included in a quarterly report. I hope you're right though and they're holding back some product.