Couple things I don't understand about their report and the business. Hope someone knows and can help. Thx.
1, why has the Total Production been higher than Total Sales every quarter? For example, Q1 the production is 8mil and sales is 6.9mil so roughly 1mil ounces of silver vaporized each quarter. Are they keeping certain percent of the metal in their inventory? and where is it listed in the report?
2, why do they continue to increase investment positions in Gold and paying approx. 90 times gold/silver valuation while the market price is at about 60 times. It doesn't make business sense. After all, the company’s vision is in Silver, right?
Any comment and knowledge sharing is appropriated.