The ROM will have been building up steadily over the previous months as they flagged it was part of the plan to stop mining in the pit (without impacting production) in order to continue the next phase of geo work. So while it won't impact production, I'd think that extra dewatering would still impact that geo work to some extent.
Been a tough fortnight for the PM sector, all things considered MKR has held up ok. Today it was one a few miners to hold steady, very light volume.
I note that the retail price of silver (at the Perth Mint) is still way over the spot comex price, around 15-20% higher an ounce and this is for their most basic bullion products. The last purchase I made a few months back that margin was only around 12%.... the fact it's growing tells me supply for physical is getting tighter..... and also that the Comex price is a poor reflection of true demand.
I wonder if any unhedged PM producers have started flexing their muscle by pressing for a premium price over spot? Considering the mint charges such a high premium themselves, you'd think some of that is being forced upon them from the producers. Or do the middlemen really have that much influence over the physical market?
