For those of you that haven't seen it yet.
https://www.reddit.com/r/Wallstreetsilver/comments/ma5yrv/perth_mint_balance_sheet_seems_to_show_a_silver/Perth Mint Balance Sheet seems to show a silver and gold deficit of $401 million?
Looking at the June 2020 Perth Mint Balance sheet which predated the SilverSqueeze and the sale of the gold ETF.
As i understand it, if you deposited $1000 in allocated or unallocated metal, that would show up on the balance sheet as a $1000 asset in inventory, and as a liability of $1000 of "precious metal borrowings".
Looking at the liabilities on the balance sheet below ... According to their notes, it sounds like the "interest bearing borrowing" of $1.721 billion is probably leased gold. And the "precious metal borrowings" are the silver and gold in Depository Accounts (including unallocated) of $4.676 billion. Those two total $6.398 billion.
OK fine. Under Assets, the inventory is $5.997 billion. So where's the missing $401 million of metal?
Balance sheet source:
And on it goes................................
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