16% of US Annual Silver Supply Just Vaporized…
http://silverdoctors.com/10-of-us-annual-silver-supply-just-vaporized/
From VisitUtah.org: In addition to copper, the mine also produces about 400,000 ounces of gold, 4 million ounces of silver and 20 million pounds of molybdenum.
Located 28 miles southwest of Salt Lake City, the mine is 2 3/4-miles across and 3/4-mile deep. It is so big that it can be seen from outer space.
Standing at the overlook within the Bingham Canyon Mine, you can see,
hear, and feel the breathtaking and awesome magnitude of this massive
man-made excavation. Kennecott Utah Copper’s Bingham Canyon Mine is the world’s largest man-made excavation!
Thankfully, there were no casualties in the collapse as Kennecott suspended operations and tours April 1st due to slope movement on the northeast wall over the winter.
It should be interesting to see the impact on price in an extremely tight physical silver market!
ReplyDeleteAccording to the law of supple and demand I agree PW, nothing makes sense in this market right now. But I will say this, something wicked this way comes, we must stay vigilante in locating the cracks forming,
ReplyDeleteI agree with both of you. Silver down 10% today after a 7% on Friday.
ReplyDeleteMust be all those people liquidating to pay their taxes today.
:)
Shawn