They don't sell all mined silver.I am sure they have an area where they are storing lots of mined silver.The people in the industry know that silver is headed much higher.Mr baker is alot of things,but he and his higher up employees understand the silver market.I will give him that.jmo
I think you are being too generous in regard to Baker's understanding of the silver market. As I recall, a couple of years ago, under Baker's leadership, HL purchased the remaining interest in the Lucky when silver prices were peaking, just ahead of plummeting Silver prices. Regarding the silver market, Baker's timing was horrible and the error almost bankrupted HL (and did lead to huge amounts of new shares being issued to pay for Baker's poor timing).
Also, recently he unloaded a huge amount of his own shares of HL, just before the silver market popped upward. More poor timing on his part.
And, of course, there is the issue of hedging nickel and lead ... for a loss.
What has Baker done to demonstrate that his understanding of the silver market (or the metals markets) is any better than yours or mine? Guido, upon what actions of Baker's do you base your favorable comment toward Baker?