$45.00, page-3

Let me ask the question. Is nobody concerned about the divergence between silver equities and POS?

I'm not just talking about the handful of little companies on the ASX.

Silver up another 1.66% overnight and nearly 75% in the last 3 months.

Silver Wheaton: down 2.7% overnight and down about 15% since March.

Much the same story for several of the other larger, more established silver giants.

Has anyone at least entertained the idea that this divergence is signalling a lack of confidence in the big end of town in current silver prices?

In a bull market you would normally expect equities to lead the underlying commodity as investors apply bullish future assumptions in their fair value modelling. Seems to be the other way around atm.

Are we just to shrug it off as a temporary mismatch between the two or is this something others have contemplated as well and are concerned about?