Have I missed something? Is it time for the Perth Mint to provide an update on what is going on with the Australian Silver Market. To clear the air...there is absolutely no Silver Ore shortage...yes? They don't give numbers, but their raw silver inventories must be getting very large now, but there will be an avalanche of silver products come July...yes? Can an online inventory of 22 x 100oz bars be explained solely by months of new equipment installations? Nothing to do with diverting supply to Silver Eagle blanks or other fabrication demands (like Comex) outside normal retail? I feel a concise report to the market is overdue.
Sorry, thought you were being sarcastic :| I'm asking for some form of voluntary market update...to me it's a pub with no beer scenario. I'm puzzled why there is not more noise regarding the lack of supply. What happens when more zombies awaken from the matrix to find no product to devour.....
Yeah, wonder how the new press went. They seem to have coins available except those that hit their mintage. Only 20 and 100 bars available online. Bron mentioned that they were expanding bar production but sounded like that would be a while yet.
June / July and I believe what is availible in their online shop is NOT their availible inventory, just what has been made availible to their online shop....
Silverado, you can't be serious "there is absolutely no Silver Ore shortage"! What do you think, gold and silver miners in Australia have decided to stop mining I assume you've seen http://www.perthmintbullion.com/blo...ng_Our_Silver_Bar_Manufacturing_Capacity.aspx Suggest leaving your questions there.
Just one question bron , if Perth mint was aware of both the upcoming necessary upgrades to their equipment and also the demand for product why not boost supply of the product before hand to meet the demand? It would make business sense to be able to meet demand both on a customer satisfaction level but also to be able to carry on trade with such product in an expected lull in production and keep profits from such product at a stable level. After all it is not like the product would not sell even in the long term. It would seem good business sense to make up for an expected shortfall in all affected product lines in advance if a planned equipment upgrade would lead to product being unavailable. Just wondering.
Well Bron, Where are the Silver products for local consumption? I'd propose your pumping out the Silver 24/7 ..it's just not being made available to the citizens of Western Australia. You have acknowledged, there is no shortfall in ore output from suppliers. Has Mr Bean taken over and decided to upgrade the Silver Bar and Silver Coin manufacturing capacity of the Perth Mint simultaneously at a time of peak demand? Questions for the Perth Mint: (1) Is the Perth Mint a current supplier of Silver coin blanks to the US Mint? (2) Is the Perth Mint supplying Silver inventory to the COMEX, that would have otherwise been supplied into the local Bullion Bar/ Coin markets? (3) Is the Perth Mint so overwhelmed with International VAT exempted orders, that local markets are unable to be serviced? In layman's terms.....where is the Silver?
Why not ask the Perth Mint these questions direct instead of posting them on a Forum, and then report the replies. These questions are, to me, the equivalent of my asking questions of the Federal Treasurer on SS and then complaining about the lack of a response. AFAIK the PM does not respond to questions on this forum. Bron responds in a personal capacity, and with limits on what he can and cannot say, based on PM policy and, presumably, the terms of his employment. IMHO it is unrealistic to expect a response from PM to the questions posed above in this forum, and unreasonable to demand one from Bron. I am constantly amazed at the control exercised by Bron when faced with questions from people who seem to believe he IS the PM and DEMAND he respond to their questions. If you believe the PM has some obligation to report to the public, or to you, then why not take it up with the PM directly yourself?
Do a search - all of this stuff was covered very recently and addressed by Bron as well (probably fifty times by now), as well as on their corporate blog.
I respect your opinion but would beg to differ. Any company that has a reputation to protect, will go out of their way to utilize social listening tools that seek out the conversation around their brand, good or bad. They will find the conversation and make it their first priority to address any discontent. As a customer getting help has always been a black hole...but the tables have now turned as companies are desperate for customer feedback. Most companies that don't have an active listening policy and address issues before they fester, will eventually wither and die. Yes..Bron comments here in a personal capacity and probably has an active interest in the space outside of work. I dont know if Perth Mint have a dedicated Social Media Team or have it as a function within Comms/PR ....but the facts are, that representativeness from a company need to address concerns wherever on the web they are happening. The days of customers going to companies (in the first instance) is finished. Customers are absolutely chuffed when a company addresses their concerns, on their turf...it's a win/win I hope you can understand my point of view, being that it is perfectly legitimate to start a conversation anywhere, in the expectation companies are listening in and would respond where required. This being a Precious Metals forum and the topic being the Perth Mint, my hope would be for official dialogue on here. The whole Silver conversation is a little chaotic at the moment, too many voices expressing the word 'shortage' for mind. So when it comes to our own major supplier of Silver in Australia, some clarity to our particular 'shortage'...would be a bonus.
So Silverado, did you ask your questions on the PM blog? This was where you were directed to get a proper answer.
That is an excellent question, again, I suggest posting it to http://www.perthmintbullion.com/blo...ng_Our_Silver_Bar_Manufacturing_Capacity.aspx I see your first two questions have been put on the corporate blog, but not the third, why not?
Decided to keep the powder dry on that one, was a bit on the snide side in retrospect....dont worry, I'm no Bix Weir
Do not forget Peth Mint is run buy government bureaucrats and directors and they don't get performance bonuses. These directors do not have the incentive to preform. If they try to do changes they won't get pay rise for the extra work they do, but they can lose their jobs in conservative surroundings. On the other hand if they do not do anything that = less work and the same pay regardless of markets and performances.
Actually, there is a modest bonus program, the $$ are reported in our annual reports. We do, but what I do here is unofficial. As to "wherever on the web" that is another good question. The reason/advantage of asking and getting questions on the corporate blog is that is official response vs me here just responding, which I have been accused of as not really meaning anything as it is not official. Bit of a catch-22 in that.
