more and more people come in the physical side of the market all right i wanted to ask you about eric sprott and was doing up there in canada for a second because he recently made an appeal to the silver industry the silver mining industry that they as i get this correctly correct me if i get this wrong his idea with some of our producers to retain earnings and sell more or not pay out over what exactly was it proposing and what do you think of the idea because i like the idea not to take any way anything away from eric sprott but that was something that you know i had and i won't say i was the first one and i wasn't but i had proposed that very early on in the natural resources conference in chicago with rob mcewen rob was head of goldcorp at the time go corp and in the early days was holding back gold as an asset for gold corp shareholders i said this is phenomenal people love it and we need to do something like this on the silver side so that idea has been around for some time it was proposed at one of the early silver summits to one of the larger silver companies that got increment open

absolutely and bear in mind as well we have the the second element of this which is the fact that eric sprott is back in the market for three hundred million dollars where the physical of course when he announced his first purchase of physical in think it was oktober of twenty ten the price was around the sort of eight hundred twenty dollars level and when you consider when you think about the market this extreme physical tightness like phil that does and someone comes in in their moans delivery of physical and saw it was no surprise to see that as a major catalyst for the run up to fifty dollars the place over a period of about six months i think it's very interesting that we've got backwardation and sprawl back buying in saw it and bear in mind that this three hundred million is only one fifth of the overall chauffeuring so yeah i think it is a profoundly bullish confluence of events at the moment and i have high hopes for this year all right now ned well known derivatives expert janet's have a call the recently suggested both in writing and in a televised interview that there was clear man