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<p>[QUOTE=&quot;mikem2000, post: 1512253, member: 30574&quot;][TABLE=&quot;class: overview-profile table-data split-alignment, width: 263&quot;]</p><p>[TR=&quot;bgcolor: #FFFFFF&quot;]</p><p>[TD]Total Net Assets[/TD]</p><p>[TD=&quot;class: data&quot;]$8,647,760,460[/TD]</p><p>[/TR]</p><p>[TR=&quot;bgcolor: #F6F6F6&quot;]</p><p>[TD]Shares Outstanding[/TD]</p><p>[TD=&quot;class: data&quot;]322,800,000[/TD]</p><p>[/TR]</p><p>[TR=&quot;bgcolor: #FFFFFF&quot;]</p><p>[TD]Sponsor&#039;s Fee[/TD]</p><p>[TD=&quot;class: data&quot;]0.50%[/TD]</p><p>[/TR]</p><p>[TR=&quot;bgcolor: #F6F6F6&quot;]</p><p>[TD]Inception Date[/TD]</p><p>[TD=&quot;class: data&quot;]4/21/2006[/TD]</p><p>[/TR]</p><p>[TR=&quot;bgcolor: #FFFFFF&quot;]</p><p>[TD]Ounces of Silver in Trust[/TD]</p><p>[TD=&quot;class: data&quot;]312,935,630.400[/TD]</p><p>[/TR]</p><p>[/TABLE]</p><p><br /></p><p><br /></p><p>number of shares = 322,800,000 </p><p>ounces of silver in trust = 312,935,630&nbsp; rounded to closest oz.</p><p><br /></p><p>Notice there is just about he same amount of oz of silver as shares.&nbsp; The reason for the difference is a share price does not quite equal the price of an oz of silver.&nbsp; It is a bit lower&nbsp; At the time of this data the share price of SLV was 26.97.&nbsp; Multiply shares by share price times the shares </p><p><br /></p><p>26.97 x 322,800,000&nbsp; = 8,705,916,000</p><p><br /></p><p>See how that works out to be the total net assets of the trust.&nbsp; At least close enough for government work, and you still need to take into account the 1/2 percent mgt feel which brings th number closer yet.</p><p><br /></p><p>See, every share is backed 100% by physical silver.&nbsp; BTW the silver is stored in London and it is audited.&nbsp; We are also talking shares of SLV not options.&nbsp; Like I said options are promises and have no silver backing, they are similar to futures in the commodity market.&nbsp; futes which also have no physical backing.</p><p><br /></p><p>You may have told me three times, but you have been wrong three times.&nbsp; The proof is there in black and white.&nbsp; </p><p>It is 100% backed, nothing fractional, the folks telling you different are wrong.&nbsp; In addition, if they are wrong about this, what else are they wrong about?&nbsp; Don&#039;t believe the Koolaid drinkers[/QUOTE]</p><p><br /></p>

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