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Message:: [QUOTE="InfleXion, post: 1618410, member: 29012"]Considering that the amount of silver on the open market is roughly 1/3 of a year's worth of mining supply (300 MOz on the COMEX if they are telling the truth), and that mining supply is roughly 200 MOz short of overall demand each year thus requiring bringing existing metal to market to meet the shortfall, and that mines formerly categorized as primary silver mines are now categorized as primary lead or primary zinc mines since those 3 metals exist homogenously in the ground, but the 'primary' designation is based solely on profitability as opposed to quantity and thus silver is historically less profitable than it has ever been as compared to these other 2 metals - how exactly is the POS relatively high? I'd say it's relatively low compared to $49/oz, and is the same price you could have bought at 2 years ago unlike gold which has a greater price premium since then. I am aware of the cost of production argument, however since these mines are not primary silver mines the cost of production is projected onto the primary metals. Silver is just a byproduct at this point, and for these mines to become primary silver mines again the cost of production for silver would rise accordingly to meet the cost of operating the mine as opposed to being along for the ride.[/QUOTE]