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According to data from the Commodities Futures Trading Commission (CFTC), the open interest in silver futures contracts has reached a staggering 141,580 contracts, each representing 5,000 ounces of silver. This translates to a total of 707,900,000 ounces – nearly equivalent to a year's worth of global silver production.

The scale of this short position is particularly alarming given that it is reportedly concentrated among just five U.S. banks. Industry analysts are questioning how such a small group of institutions could take on a short position representing an entire year's worth of global silver mining output.

Critics argue that this level of short selling creates artificial downward pressure on silver prices, potentially suppressing its true value despite strong industrial demand from sectors such as electric vehicles, solar panels, military applications, aerospace, and electronics.

JV's, taking positions in smaller companies and providing them with the liquidity to succeed is one of the fastest ways to quickly add shareholder value through accretive transactions. In return you take equity at the asset level and put in place NSR agreements, buy back options or double option agreements enabling success payments or transfer of asset equity for a deffered consideration. Generally you agree defined phases, phase 1,2,3 etc All with structures in place setting out expectations for both parties.

Whilst offering exit routes if circumstances change or the minimum expectations are achieved after phase1 of any agreement.

SD literally spelt is out in the podcast that he will be speaking to the local players.

What this means in reality out the outset is signing NDA's / MOU's and sharing access from the data rooms and core sheds and geotechnical data across the teams and if they like the prospects and they strengthen the business case and GGP's land holdings around telfer it would make good business sense to grow the business this way for relatively little cost.

GGP was such a beneficiary of such a deal which transformed the company and made many holders here both past and present life changing returns.

SD mentioned that the reserves are likely to increase at the next update, but not necessarily the overall inferred resourse size.

So thought has to be given to best use of shareholders funds through the next phase of expansion and growth.

SD could spend a further 30million simply drilling for structure and confirmatory drilling at Havieron or apportion say 30m across 4 or 5 really hot prospects with a view to potentially uncovering another Telfer or Havieron.

There is an ASX listing to think about and whilst GGP moves firmly into the right hand (producer) side of the lasonde curve, for sure having a few new prospects with big 'blue sky' potential to double, triple or quadruple the ounces held by Greatland Gold would add a bit more juice to the mix, just like back in the days where the market was frothing with anticipation as each new set of new drill results landed from Havieron.

I'd defy anyone not to want to see that kind of raging market anticipation & excitement back here again in parallel to the less speculative and more steady safer journey to first gold from Havieron.

GLA.

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