SBB should have in the area of 300 million ounces of silver, and likely with more ounces in the future. Gold reserves will also be growing this year as the exploration program unfolds. As to where things are with respect to silver, read the following commentary:
"Silver jumped to a 30-year high amid record levels of investor buying that has drained mints of silver coins.
The price of the precious metal hit $31.37 a troy ounce on Thursday,up 16 per cent since mid-January and the highest since March 1980. Theworld’s leading mints have reported record sales of silver coins inJanuary and some, including the Royal Canadian Mint and Austrian Mint,have had to ration sales.
“We have sold everything we can produce in silver and have demandfor at least twice that volume,” said David Madge, head of bullionsales at the Royal Canadian Mint, which produces the silver Maple Leafcoin. Silver coin sales at the US Mint and the Austrian Mint also hitrecord levels in January.
The surge of buying has both boosted silver prices and helped pushthe market into “backwardation” – an unusual condition in which forwardprices are lower than prices for immediate delivery. While investorsare buying, miners have been selling their future silver production tolock in gains, which has depressed long-dated futures prices.
Dealers said smaller investors saw silver as a cheaper alternativeto gold with greater potential for gains as they look to preserve theirwealth against rising inflation and currency weakness.
TheAustrian Mint sold 1.53m ounces of its silver Philharmonic coin inJanuary, more than double the level a year earlier, according to AndreaLang, marketing director.
“We could have sold more,” she said, adding that the mint would boost production to 2.2m ounces in February and March.
The US Mint sold 6.4m ounces of silver American Eagle coins inJanuary, 50 per cent more than the previous record month, and havealready sold 1.7m ounces so far in February.
Silver prices have outpaced gold in recent months as the improvingeconomic picture has caused investment demand for gold to wane but hasboosted silver’s industrial demand – which, in spite of rising investorflows, still accounts for 80 per cent of total silver consumption."