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Weekly Analysis Files

Date/Link	Comments	Removed	Added	Current
15 Feb 2012	Analysis of the 15 Feb 2012 bar list, and comparision to the previous week's list. 383,080.3oz were added (to Brinks London), 577,162.6oz were removed (from Brinks London), none had serial changes. The bars added were from: Solar Applied Materials (.4Moz), and no others. The bars removed were from: Qiankun (.2Moz), and 13 others. As of the time that the bar list was produced, it was overallocated 526.7oz. During this week, 1.2Moz was added, and 1.4Moz was removed, per the daily records.	577,162.6	383,080.3	310,519,367.7
08 Feb 2012	Analysis of the 08 Feb 2012 bar list, and comparision to the previous week's list. 1,935,665.7oz were added (to Brinks London), 157,379.9oz were removed (from Brinks London), none had serial changes. The bars added were from: Yunnan Copper (.6Moz), Krasnoyarsk (.4Moz), Qiankun (.3Moz), and 18 others. The bars removed were from: Met-Mex (.2Moz). As of the time that the bar list was produced, it was overallocated 291.0oz.	157,379.9	1,935,665.7	310,713,450.0
01 Feb 2012	Analysis of the 01 Feb 2012 bar list, and comparision to the previous week's list. 3,158,815.6oz were added (to Brinks London), no bars were removed or had serial changes. The bars added were from: Met-Mex (1.1Mox), Prioksky (.6Moz), Shyolkovsky (.4Moz), Shenzhen Zhongjin (.3Moz), and 9 others. As of the time that the bar list was produced, it was overallocated 114.5oz.	0	3,158,815.6	308,935,164.2
25 Jan 2012	Analysis of the 25 Jan 2012 bar list, and comparision to the previous week's list. 194,514.3oz were removed (from Brinks London), no bars were added or had serial changes. The bars removed were from: Britannia Refined Metals (.1Moz), Guangxi Chengyuan Mining (.1Moz), Shui Kou Shan Mining (.1Moz) and Henan Yuguang Gold and Lead Co (.1Moz). As of the time that the bar list was produced, it was overallocated 103.9oz.	194,514.3	0	305,776,348.6
18 Jan 2012	Analysis of the 18 Jan 2012 bar list, and comparision to the previous week's list. 0oz were removed, 0oz were added, and none had serial changes. As of the time that the bar list was produced, it was overallocated 221.8oz. In nearly 4 weeks, there have only been 2 withdrawals, and no deposits. This is highly unusual.	0	0	305,970,862.9
11 Jan 2012	Analysis of the 11 Jan 2012 bar list, and comparision to the previous week's list. 2,863,331.5oz were removed (from Brinks London), no bars were added or had serial changes. The bars removed were from: Russian State Refineries (.6Moz), Solar Applied Materials (.5Moz), Britannia Refined Metals (.3Moz), Kazzinc (.3Moz), Henan Yuguang (.3Moz), and 7 others. As of the time that the bar list was produced, it was overallocated 221.8oz.	2,863,331.5	0	305,970,862.9
04 Jan 2012	Analysis of the 04 Jan 2012 bar list, and comparision to the previous week's list. 0oz were removed, 0oz were added, and none had serial changes. As of the time that the bar list was produced, it was overallocated 898.9oz. No changes whatsoever; the first time since the week of 31 Dec 2010.	0	0	308,834,194.4
28 Dec 2011	Analysis of the 28 Dec 2011 bar list, and comparision to the previous week's list. 2,912,562.3oz were removed (from Brinks London), 17,937.2oz were added (also to Brinks London), and 31 had serial changes. The bars removed were from: Henan Yuguang (.9Moz), Solar Applied Materials (.8Moz), Nordeutsche (.5Moz), and 6 others. The bars that appear to have been added were likely undetected changes (e.g. if the serial number and refiner changed). As of the time that the bar list was produced, it was overallocated 898.9oz.	2,912,562.3	17,937.2	308,834,194.4
21 Dec 2011	Analysis of the 21 Dec 2011 bar list, and comparision to the previous week's list. 2,284,964.8oz were removed (from Brinks London), no bars were added, and none had serial changes. The bars removed were from: Inner Mongolia Qiankun (.3Moz), Solar Applied Materials (.3Moz), OJSC Kolyma (.2Moz), Russian State Refineries (.2Moz), and 19 others. As of the time that the bar list was produced, it was overallocated 536.2oz.	2,284,964.8	0	311,799,608.1
14 Dec 2011	Analysis of the 14 Dec 2011 bar list, and comparision to the previous week's list. 2,174,171.4oz were added (to Brinks London), no bars were removed, and none had serial changes. The bars added were from: Solar Applied Materials (.5Moz), Inner Mongolia Qiankun (.3Moz), Guangxi Chengyuan (.2Moz), Asarco (.2Moz), and 19 others. As of the time that the bar list was produced, it was overallocated 172.7oz.	0	2,174,171.4	314,084,572.9
07 Dec 2011	Analysis of the 07 Dec 2011 bar list, and comparision to the previous week's list. 322,530.1oz were removed (from Brinks London ), 2,529,131.7oz were added (to JM UK), and 2 having refiner changes. The bars removed were from: KGHM (.1Moz) and 4 others. The bars added were from JM UK (1.9Moz) and JM USA (.6Moz). As of the time that the bar list was produced, it was overallocated 600.6oz.	322,530.1	2,529,131.7	311,750,734.4
30 Nov 2011	Analysis of the 30 Nov 2011 bar list, and comparision to the previous week's list. 1,848,082.6oz were removed (from Brinks London and JPM London A), with no bars added, and 65 having serial number changes. The bars removed were from: Russian State Refineries (1.3Moz), KGHM Poland (.2Moz), and 10 others. As of the time that the bar list was produced, it was overallocated 660.9oz.	1,848,082.6	0	309,544,132.8
23 Nov 2011	Analysis of the 23 Nov 2011 bar list, and comparision to the previous week's list. 3,161,428.5oz were removed (from Brinks London and Brinks London A), with no bars removed, and 83 having serial number changes. The bars removed were from: Russian State Refineries (.5Moz), Britannia Refined Metals (.4Moz), Degussa (.3Moz), Industrial Minera (.2Moz), Met-Mex (.2Moz), and 25 others. As of the time that the bar list was produced, it was overallocated 446.3oz.	3,161,428.5	0	311,392,215.4
16 Nov 2011	Analysis of the 16 Nov 2011 bar list, and comparision to the previous week's list. 826,615.3oz were added (all to Brinks London), with no bars removed or having serial number changes. The bars added were from: Henan Yuguang (.6Moz), Solar Applied Materials, and 0 others. As of the time that the bar list was produced, it was overallocated 82.3oz.	0	826,615.3	314,553,643.9
09 Nov 2011	Analysis of the 09 Nov 2011 bar list, and comparision to the previous week's list. 535,488.7oz were added (all from Brinks London), 714,770.6oz were removed (all from Brinks London), with no bars having serial number changes. The bars removed were from: Russian State Refineries (.4Moz), Yunnan Copper (.1Moz), KGHM (.1Moz), and 4 others. The bars added were from: Guangxi Chengyuan (.1Moz), Solar Applied Materials (.1Moz), Shui Kou Shan (.1Moz), and 4 others. As of the time that the bar list was produced, it was overallocated 522.1oz.	714,770.6	535,488.7	313,727,028.6
02 Nov 2011	Analysis of the 02 Nov 2011 bar list, and comparision to the previous week's list. 924,222.6oz were added (all from Brinks London), 3,334,684.1oz were removed (all from Brinks London), with no bars having serial number changes. The bars removed were from: Solar Applied (.9Moz), Inner Mongoloia Qiankun (.3Moz), Henan Yuguang (.3Moz), Hunan Zhuzhou (.3Moz), and 9 others. The bars added were from: Russian State Refineries (.7Moz), and 5 others. As of the time that the bar list was produced, it was overallocated 411.5oz.	3,334,684.1	924,222.6	313,906,310.5
26 Oct 2011	Analysis of the 26 Oct 2011 bar list, and comparision to the previous week's list. 4,136,604.8oz were removed (all from Brinks London), with no bars having serial number changes. The bars removed were from: Shenzhen Zhongjin (.9Moz), Prioksky (.8Moz), Russian State Refineries (.4Moz), Shyolkovsky (.4Moz), and 19 others. As of the time that the bar list was produced, it was overallocated 33.6oz.	4,136,604.8	0	316,387,560.6
19 Oct 2011	Analysis of the 19 Oct 2011 bar list, and comparision to the previous week's list. 485,752.3 oz were added (all to the Brinks London warehouse), 1,653,788.7oz were removed (all from Brinks London), with no bars having serial number changes. The bars added were from: Solar Applied Materials (.2Moz), Zhuzhou Smelter (.1Moz), and 8 others. The bars removed were from: Russian State Refineries (.7Moz), Met-Mex (.6Moz), Yunnan Copper (.2Moz), and 4 others. It is not possible to tell if there is an overallocation or not. Also, silver was added to the trust even though there were no daily silver additions. This would suggest that there was a day where there there was silver added *and* removed from the trust, suggesting heavy turnover (and tight supply).	1,653,788.7	485,752.3	320,524,165.4
12 Oct 2011	Analysis of the 12 Oct 2011 bar list, and comparision to the previous week's list. 804,677.6 oz were added (all to the Brinks London warehouse), 318,306.0oz were removed (all from Brinks London), and 173 bars had serial number changes. The bars added were from: Russian State Refineries (.5Moz), Yunnan Copper (.2Moz), and 3 others. The bars removed were from: Russian State Refineries (.3Moz), and 2 others. As of the time that the bar list was produced, it was overallocated 171.6oz.	318,306.0	804,677.6	321,692,201.8
05 Oct 2011	Analysis of the 05 Oct 2011 bar list, and comparision to the previous week's list. 1,947,526.4oz were added (all to the Johnson Matthey warehouse), 2,548,622.7oz were removed (all from Brinks London), no bars were changed. The bars added were from: Johnson Matthey (1.9Moz). The bars removed were from: Russian State Refineries (.7Moz), Met-Mex (.6Moz), Inner Mongolia Qiankun (.5Moz), and 4 others. As of the time that the bar list was produced, it was overallocated 510.0oz.	2,548,622.7	1,947,526.4	321,205,830.2
28 Sep 2011	Analysis of the 28 Sep 2011 bar list, and comparision to the previous week's list. 2,712,100.4oz were added (all to the Brinks London warehouse), 1,008,518.6oz were removed (also all Brinks London), no bars were changed. The bars added were from: OJSC Kolyma (.6Moz), Met-Mex (.6Moz), Russian State Refineries (.3Moz), and 7 others. The bars removed were from: Henan Yuguang (.6Moz), Prioksky Russia (.2Moz), and 6 others. It is unknown if there is an overallocation, as only part of Tuesday's deposit was accounted for. Oddly, only 1 bar from Prioksky Russia was added, of 969.3 oz, which is very close to the weight of the 968.4oz bar removed last week. Perhaps someone made a quick sale of a bar and replaced it with one of a very close weight?	1,008,518.6	2,712,100.4	321,806,926.5
21 Sep 2011	Analysis of the 21 Sep 2011 bar list, and comparision to the previous week's list. 974,680.6oz were added (all to JM's warehouse), 15 had refiner changes. 1 bar of 968.4oz appears to have been removed. The bars added were from: Johnson Matthey (.9Moz), and no others. As of the time that the bar list was produced, it was overallocated 163.0oz.	968.4	974,680.6	320,103,344.7
14 Sep 2011	Analysis of the 14 Sep 2011 bar list, and comparision to the previous week's list. 4,845,074.7oz were added (2.3Moz to Brinks London, 1.3Moz to JM), 219,455.5oz were removed (all from Brinks London), 24 had serial number changes. The bars added were from: Johnson Matthey (1.3Moz), Solar Applied Materials (.6Moz), Nordeutsche (.5Moz), Henan Yuguang (.5Moz), and 29(!) others. The bars removed were from: Henan Yuguang (.1Moz), JBR Recovery (.1Moz), Johnson Matthey (.1Moz), Shui Koi Shan (.1Moz). All bars removed were added to SLV warehouses the week of 24 Aug 2011. As of the time that the bar list was produced, it was overallocated 282.8oz. The bars removed may have been to pay for expenses, as during the week there were only changes on 2 days, both of which were additions of close to 2.4Moz.	219,455.5	4,845,074.7	319,129,632.5
07 Sep 2011	Analysis of the 07 Sep 2011 bar list, and comparision to the previous week's list. 1,155,304.8oz were added, 18,418.1oz were removed, 12 had serial number changes. The bars added were from: Met-Mex (.4Moz), Shu Kou Shan (.1Moz), Yunnan Copper (.1Moz), and 6 others. The bars removed were from: Met-Mex. As of the time that the bar list was produced, it was overallocated 659.4oz. The bars removed may have been sold to pay for expenses.	18,418.1	1,155,304.8	314,504,013.3
31 Aug 2011	Analysis of the 31 Aug 2011 bar list, and comparision to the previous week's list. 4,949,504.4oz were added, 5,556,051.0oz were removed, 64 had serial number changes. The bars added were from: Solar Applied Materials (.9Moz), Henan Yuguang (.8Moz), Prioksky (.4Moz), and 23 others. The bars removed were from: Johnson Matthey (3.1Moz), John Betts (1.3Moz), and 8 others. As of the time that the bar list was produced, it was overallocated 137.8oz.	5,556,051.0	4,949,504.4	313,367,126.6
24 Aug 2011	Analysis of the 24 Aug 2011 bar list, and comparision to the previous week's list. 1,169,052.1oz were added (all to Brinks London again), no bars were removed or changed. The bars added were from: Henan Yuguang (.3Moz), Krasnoyarsk Russia (.3Moz), Met-Mex (.2Moz), JBR Recovery (.2Moz) , and 5 others. As of the time that the bar list was produced, it was overallocated 224.5oz.	1,169,052.1	0	313,902,884.6
17 Aug 2011	Analysis of the 17 Aug 2011 bar list, and comparision to the previous week's list. 5,261,687.9oz were removed (all from Brinks London again), no bars were added or changed. The bars removed were from: Solar Applied Materials (.8Moz), Met-Mex (.7Moz), Henan Yuguang (.6Moz), Nordeutsche (.5Moz), and 15 others. As of the time that the bar list was produced, it was overallocated 172.8oz. Note: For 2 months, the only activity has been with the Brinks London vault, with no activity in the other 4 vaults. Note: We missed this, but in May the last bars were removed from the Via Mat vault, which now has no SLV silver in it. Note: We used the 18 Aug 2011 bar list rather than the 17 Aug 2011 bar list, but they should be identical.	5,261,687.9	0	312,733,832.5
10 Aug 2011	Analysis of the 10 Aug 2011 bar list, and comparision to the previous week's list. 2,754,026.2oz were added (again, all to the Brinks London vault), 476,780.9oz were removed (all from Brinks London), 310 bars had serial changes, 10,960 had refiner changes (apparently just slight alterations to the names). The bars added were from: Henan Yuguang (1.4Moz), Solar Applied Materials (.6Moz), and 7 others. The bars removed were from: Russian State Refineries (.3Moz), Solar Applied Materials (.1Moz), and 2 others. As of the time that the bar list was produced, it was overallocated 783.1oz.	476,780.9	2,754,026.2	317,995,520.4
03 Aug 2011	Analysis of the 03 Aug 2011 bar list, and comparision to the previous week's list. 779,625.3oz were added (again, all to the Brinks London vault), 3,045,447.2oz were removed (all from Brinks London), no bars were changed. The bars added were from: Jiangxi Copper (.4Moz), Yunnan Copper (.1Moz), Tongling Nonferrous Metals (.1Moz), and 3 others. The bars removed were from: Henan Yuguang (.9Moz), Solar Applied Materials (.5Moz), Prioksky Russia (.4Moz), Guangxi Chengyuan (.3Moz), and 9 others. As of the time that the bar list was produced, it was underallocated 124,930.4oz!	3,045,447.2	779,625.3	315,753,989.7
27 Jul 2011	Analysis of the 27 Jul 2011 bar list, and comparision to the previous week's list. 4,482,879.2oz were added (again, all to the Brinks London vault), no bars were removed or changed. The bars added were from: Henan Yuguang (1.2Moz), Solar Applied Materials (.7Moz), Guangxi Chengyuan (.5Moz), Prioksky (.4Moz), and 11 others. As of the time that the bar list was produced, it was overallocated 237.7oz.	0	4,482,879.2	318,022,841.0
20 Jul 2011	Analysis of the 20 Jul 2011 bar list, and comparision to the previous week's list. 8,018,011.0oz were added (all to the Brinks London vault), no bars were removed or changed. The bars added were from: Solar Applied Materials (1.4Moz), Yunnan Copper (.9Moz), Russian State Refineries (.8Moz), and 16 others. The bar list incorporates part of a day's incoming metal, making it impossible to determine the amount overallocated.	0	8,018,011.0	313,539,961.8
13 Jul 2011	Analysis of the 13 Jul 2011 bar list, and comparision to the previous week's list. 1,023,400.1oz were removed (all from the Brinks London vault), no bars were added or changed. The bars removed were from: Nordeutsche (.4Moz), Shui Kou Shan (.2Moz), Great Wall Ref (.1Moz), and 5 others. As of the time that the bar list was produced, it was overallocated 744.3oz.	1,023,400.1	0	305,451,162.2
06 Jul 2011	Analysis of the 06 Jul 2011 bar list, and comparision to the previous week's list. 2,183,311.7oz were removed (all from the Brinks London vault), no bars were added or changed. The bars removed were from: Solar Applied Materials (.5Moz), Henan Yuguang (.3Moz), Hunan Zhuzhou (.3Moz), Russian State Refineries (.3Moz), and 13 others. As of the time that the bar list was produced, it was overallocated 722.0oz.	2,183,311.7	0	306,474,562.3
30 Jun 2011	Analysis of the 30 Jun 2011 bar list, and comparision to the previous week's list. 53,775.9oz were removed (all from the Brinks London vault), 2,149,478.8oz were added, none had serial number changes. The bars removed were from: Zhuzhou Smelter (27,734oz) and Guangxi Chengyuan (26,041oz), and no others. The bars added were from: Met-Mex (.6Moz), Prioksky (.5Moz), Shyolkovsky (.2Moz), Solar Applied Materials (.2Moz), and 15 others. At least one of the bars added was previously in SLV. Nearly 600,000oz were added and removed since last week (e.g. the bars were added since last week's list, and removed before this week's list, so the bar numbers do not appear here). As of the time that the bar list was produced, it was overallocated 441.1oz.	53,775.9	2,149,478.8	308,657,874.0
22 Jun 2011	Analysis of the 22 Jun 2011 bar list, and comparision to the previous week's list. 4,192,201.4oz were removed (all from the Brinks London vault), no bars were added, none had serial number changes. The bars removed were from: Henan Yuguang (1.2Moz), Nordeutsche Germany (.9Moz), Solar Applied Metals (.6Moz), and 10 others. As of the time that the bar list was produced, it was overallocated 871.7oz.	4,192,201.4	0	306,562,171.1
15 Jun 2011	Analysis of the 15 Jun 2011 bar list, and comparision to the previous week's list. 7,995,861.3oz were removed (7.1Moz from Brinks London, .9Moz from JPM V), no bars were added, 261 had serial number changes. The bars removed were from: Henan Yuguang (1.9Moz), JBR Recovery UK (1.5Moz), Britannia Refined Metals (.8Moz), Uralelectromed Russia (.7Moz), Rand Refinery (.7Moz), and 25 others. As of the time that the bar list was produced, it was overallocated 629.8oz. Worthy of note is that many of the bars removed are bars that have been in the vault a long time.	7,995,861.3	0	310,754,372.5
08 Jun 2011	Analysis of the 08 Jun 2011 bar list, and comparision to the previous week's list. 1,413,493.7oz were removed (all from Brinks London), 541,659.6oz were added (all from Brinks London), with 13 bars changed at Brinks London. The bars removed were from: Prioksky Russia (.6Moz), Met-Mex Penoles (.3Moz), Shenzhen Zhongjin (.1Moz), Jiangxi Copper (.1Moz), Inner Mongolia Qiankun (.1Moz), and 3 others. The bars added were from: Russian State Refineries (.4Moz), Krasnoyarsk Russia (.1Moz), and 3 others. As of the time that the bar list was produced, it appears to be overallocated 872.3oz.	1,413,493.7	541,659.6	319,622,067.9
01 Jun 2011	Analysis of the 01 Jun 2011 bar list, and comparision to the previous week's list. 6,289,948.8oz were removed (1.5Moz from Brinks London, 4.7Moz from Via Mat), no bars were added or changed. The bars removed were from: Russian State Refineries (1.3Moz), Johnson Matthey US (1.1Moz), Argor-Heraeus (.7Moz), Hoboken Belgium (.5Moz), and 25 others. As of the time that the bar list was produced, it appears to be overallocated 817.0oz. Most of the 4Moz of silver removed from Via Mat was all there since at least 08 Feb 2010.	6,289,948.8	0	318,750,233.8
25 May 2011	Analysis of the 25 May 2011 bar list, and comparision to the previous week's list. 11,265,878.4oz were removed (all from Via Mat), no bars were added or changed. The bars removed were from: JM Canada (1.8Moz), Argor-Heraeus (1.6Moz), JM USA (1.3Moz), Hoboken Belgium (1.2Moz), Met-Mex (1.0Moz), Russian State Refineries (.9Moz), and 28 others. As of the time that the bar list was produced, it appears to be overallocated 154.8oz. So far this month, over 43Moz has been removed from SLV (after the 11.5% 'flash crash' occurred May 1).	11,265,878.4	0	325,912,016.7
18 May 2011	Analysis of the 18 May 2011 bar list, and comparision to the previous week's list. 3,169,261.5oz were removed (all from Brinks London), no bars were added or changed. The audit is complete. The bars removed were from: Krasnoyarsk Russia (.8Moz), Russian State Refineries (.7Moz), Yunnan Copper (.7Moz), OJSC Kolyma (.4Moz), and 5 others. As of the time that the bar list was produced, it appears to be overallocated 658.0oz.	3,169,261.5	0	337,177,895.1
11 May 2011	Analysis of the 11 May 2011 bar list, and comparision to the previous week's list. 19,999,776.1oz were removed (all from Via Mat), 9,754,251.8oz were ounces were added (5.7Moz to Brinks London, 4.0Moz to JPM London V), and there were no bar changes. The bars removed were from: Russian State Refineries (3.3Moz), Met-Mex (3.3Moz), Krasnoyarsk (3.1Moz), OJSC (3.0Moz), Solar Applied Materials (2.2Moz), and 10 others. The bars added were from: Henan Yuguang (2.1Moz), Solar Applied Materials (1.5Moz), Inner Mongolia Qiankun (1.0Moz), Russian State Refineries (1.0Moz), and 25(!) others. As of the time that the bar list was produced, it appears that 360.6oz were in an unallocated account. Note that almost exactly 20Moz was removed; this is not likely a coincidence.	19,999,776.1	9,754,251.8	340,347,156.6
05 May 2011	Analysis of the 05 May 2011 bar list, and comparision to the previous week's list. 15,607,862.5oz were removed (5.4Moz from Brinks London, 10.2Moz from Via Mat), no ounces were added, and there were no bar changes. The bars removed were from: Valcambi (2.5Moz), Russian State Refineries (2.3Moz), Henan Yuguang (1.9Moz), Solar Applied Materials (1.8Moz), and 24 others. The amount removed was huge, move than double the previous record of 7Moz (since early July). There is a discrepancy again; it appears they publish lists that include partial day's allocations (short -141,666.7oz, 350,592,680.9 bar list versus 350,734,347.6 iShares on Tuesday afternoon). It appears that they are up-to-date through Monday 02 May 2011, and part of the way through Tuesday 03 May 2011. As a result, we cannot see how much is unallocated or overallocated.	15,607,862.5	0	350,592,680.9
28 Apr 2011	Analysis of the 28 April 2011 bar list, and comparision to the previous week's list. 11,113,932.7 ounces were added (7.2Moz to the Brinks London vault, 3.8Moz to the JM vault), no silver was removed. 134 bars had serial number changes, at the Brinks London vault. The bars added were from: Johnson Matthey (3.9Moz), Russian State Refineries (1.9Moz), Solar Applied Materials (1.9Moz), Henan Yuguang (.6Moz), Yunnan Copper (.6Moz), Inner Mongolia (.6Moz) and 10 others. The 1.1Moz removed on 21 Apr 2011 was silver that had been added either on 20 Apr 2011 or 19 Apr 2011. As of the time that the bar list was produced, it appears that it is overallocated 1,477.7oz. This, too, is odd, as it should be overallocated less than the size of one full 1,000oz bar (1,100oz or 1,250oz max).	0	11,113,932.7	366,200,543.4
27 Apr 2011	This analysis was of a bar list dated 27 Apr 2011, that apparently was released by JPM by mistake. Analysis of the 27 April 2011 bar list, and comparision to the previous week's list. 8,352,065.3 ounces were added (4.5Moz to the Brinks London vault, 3.8Moz to the JM vault), no silver was removed. 134 bars had serial number changes, at the Brinks London vault. The bars added were from: Johnson Matthey (3.8Moz), Russian State Refineries (1.9Moz), Solar Applied Materials (.7Moz), Yunnan Copper (.6Moz), and 5 others. We cannot figure out the totals. iShares shows the total as 361,759,548.8oz, the bar list shows 363,418,567.9oz (1,659,019.1 too much). However, the first 3 transactions since last week were 2 additions of around 2Moz, and a withdrawal of about 1Moz. So it sounds like parts of later transactions may have been included, but not earlier transaction. This is highly unusual. As a result, we cannot determine how much overallocation there may be.	0	8,352,065.3	363,418,567.9
20 Apr 2011	Analysis of the 20 April 2011 bar list, and comparision to the previous week's list. 615,819.1 ounces were added (all to the Brinks London vault), and 7,017,116.8oz were removed. 181 bars were changed, in the Via Mat vault. The bars added were from: Henan Yuguang (327Koz), Shui Kou Shan (145Koz), and 3 others. The bars removed were from 14 refiners, 2.7Moz from Met-Mex (which is COMEX approved), and almost all of the rest from Chinese and Russian refiners (LBMA approved, but not COMEX approved). As of the time that the bar list was produced, it appears that it is short 8,716.9oz for some unknown reason (355,066,502.6oz on the bar list versus 355,075,219.5oz as of Tuesday afternoon). Perhaps it is being sold for expenses.	7,017,116.8	615,819.1	355,066,502.6
13 Apr 2011	Analysis of the 13 April 2011 bar list, and comparision to the previous week's list. 2,586,438.4 ounces were added (all to the Via Mat vault), and no bars removed or just 15 changed. The bars added were from: Valcambi Switzerland (2.5Moz), and 2 others. Valcambi has not had bars in SLV before (as far as we can tell), and it appears to be newly mined silver. This suggests tightness in the wholesale market, as this silver is being re-directed to SLV from whereever it was previously used. It appears that JPM is now offering an 'overallocation feature', where they add an extra bar so that no silver needs to be in an unallocated account (so there is a bit more silver than there should be, rather than a bit less). As of the time that the bar list was produced, it appears that it is overallocated 622.5oz.	0	2,586,438.4	361,467,800.3
07 Apr 2011	Analysis of the 07 April 2011 bar list, and comparision to the previous week's list. 738,014.5 ounces were added, and no bars removed or changed. The bars added were from: Inner Mongolia Qiankun (318Koz), Great Wall Ref (287Koz), Solar Applied Materials (70Koz), and 2 others. As of the time that the bar list was produced, it appears that -402.0oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as there are no 459.8oz bars). So there are 402.0 MORE ounces in the bar list than listed on the SLV website. Hmmmm. ADDED: It appears that the -402.0oz is really part of an 'overallocation' feature, which has not yet been announced.	0	738,014.5	358,881,361.9
31 Mar 2011	Analysis of the 31 March 2011 bar list, and comparision to the previous week's list. 6,267,983.7 ounces were added, and 509,172.8 ounces were removed. 1,033 bars had serial number changes, due to the ongoing audit (bars in Brinks London, JPM London V and JPM London A). The bars added were from: OJSC Kolyma (1.5Moz), Russian State Refineries (.8Moz), Solar Applied Materials (.7Moz), Yunnan Copper (.5Moz), and 15 others. The bars removed were from: Solar Applied Materials (.3Moz), Daye Non-Ferrous Metals (.17Moz), Tongling Nonferrous Metal (.07Moz). As of the time that the bar list was produced, it appears that 459.8oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as there are no 459.8oz bars).	509,172.8	6,267,983.7	358,143,347.4
23 Mar 2011	Analysis of the 23 March 2011 bar list, and comparision to the previous week's list. 544,005.7 ounces were added, and 446,126.2 ounces were removed. 86 bars had serial number changes, due to the ongoing audit. The bars added were from: Russian State Refineries (.27Moz), Inner Mongolia Qiankun (.17Moz), and 3 others. The bars removed were from: Inner Mongolia Qiankun (.3Moz), Russian State Refineries (.05Moz), Yunnan Copper (.08Moz). As of the time that the bar list was produced, it appears that 198.1oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as there are no 198.1oz bars).	446,126.2	544,005.7	352,384,536.5
16 Mar 2011	Analysis of the 16 March 2011 bar list, and comparision to the previous week's list. 2,441,081.5 ounces were added, and 536,932.9 ounces were removed. The bars added were from: Johnson Matthey UK (1.4Moz), Jiangxi Copper (.4Moz), Britannia Refined Metals (.3Moz), and 6 others. The bars removed were from: Russian State Refineries (.3Moz), Inner Mongolia Qiankun (.2Moz), Yunnan Copper (30Koz). As of the time that the bar list was produced, it appears that 514.8oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as there are not any 514.8oz bars).	536,932.9	2,441,081.5	352,286,657.0
10 Mar 2011	Analysis of the 10 March 2011 bar list, and comparision to the previous week's list. Major changes this week. The bar list now appears to be produced on Thursday, and in a very different format. And JPM added a new vault: Johnson Matthey's Royston vault. We show 420 bar serial number changes; this was due to errors in the previous lists where the refiner name would overwrite part of the serial number field. 6,687,715.5 ounces were added, with no bars removed. The bars added were from: Johnson Matthey UK (2.0Moz), Solar Applied Materials (1.4Moz), John Betts UK (1.3Moz), Russian State Refineries (.9Moz), and 9 others. Apparently JM sold part of their silver holdings as part of the deal of having SLV silver in their vault. This week seems to clear up the discrepancies. Although the bar list shows 350,382,508.4oz, and iShares shows 352,824,122.5oz, if we take out the Tuesday and Wednesday deposits (2,440,772.0oz) from the iShares list, we get 350,383,350.5oz, which is within the 1,100oz tolerance (unallocated account) of the bar list. As of the time that the bar list was produced, it appears that 842.1oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as there may not be any 842.1oz bars).	0	6,687,715.5	350,382,508.4
04 Mar 2011	Analysis of the 04 March 2011 bar list, and comparision to the previous week's list. 10,089,400.0 ounces were added, with no bars removed or changed. The bars added were from: Russian State Refineries (2.5Moz), Met-Mex Penoles Mexico (2.2Moz), Krasnoyarsk Russia (1.5Moz), Henan Yuguang (.9Moz), Yunnan Copper (.6Moz), Inner Mongolia Qiankun (.6Moz), and 22 others. There is a discrepancy between the amount of silver added per the bar list (10,089,400.0oz added) and the amount added per the iShares website (12,481,974.0oz added, not including Thursday's deposit). That's 2,392,574.0oz that should be in the bar list, but is not yet. It is not evenly divisible by the amount of silver in a basket, which is a bit disturbing (but could be explained, for example, if some silver was sold to meet the trust's .5% annual fee). Let's hope there is no discrepancy next week, this is 2 weeks in a row (although last weeks was easily explainable). It is impossible to tell how much silver is in the unallocated account, because of the discrepancy. Up to 1,100oz can be in an unallocated account. There is also a unusual 'in and out' trend we have noticed. There is a group of bars that was removed 21 Jan 2011, added back 18 Feb 2011, removed 25 Feb 2011, and added back 04 Mar 2011. What it means we do not know, but it is a new pattern.	0	10,089,400.0	343,694,792.9
25 Feb 2011	Analysis of the 25 February 2011 bar list, and comparision to the previous week's list. 1,610,545.9 ounces were added, and 2,733,581.3oz were removed (all to the Brinks London vault). We detected 14 bars had auditing changes to the serial numbers. The bars added were from: Rand Refinery (.6Moz), JBR Recovery UK (.6Moz), Met-Mex Penoles (.26Moz), and 6 other refiners. The bars removed were from: Russian State Refineries (1.2Moz), Inner Mongolia Qiankun (.5Moz), Yunnan Copper (.46Moz), Asarco (.17Moz), and 13 others. There is a discrepancy between the amount of silver removed per the bar list (1,123,035.4oz removed) and the amount added per the iShares website (5,272,872.1oz added). It appears as though only 22 of the 153 baskets of silver deposited on Thurday made it to the bar list (suggesting at least 2 separate deposits that day). Each basket should have 48,822.400oz, so the 'missing' 131 baskets would add up to 6,395,734.4oz, which matches the 6,396,237.9oz discrepancy. It appears as though there are 503.5oz of silver in the unallocated account, but because of the discrepancy, it is not possible to confirm this. Up to 1,100oz can be in an unallocated account. The bar list is short 6,396,237.9oz from Thursday's deposit, with an extra 2.9Moz deposited Thursday that should appear on next week's list.	2,733,581.3	1,610,545.9	333,605,392.9
18 Feb 2011	Analysis of the 18 February 2011 bar list, and comparision to the previous week's list. 1,318,259.6 ounces were added (all to the Brinks London vault). No bars were removed or changed. The bars added were from: Russian State Refiners (.62Moz), Asarco (.2Moz), Johnson Matthey USA (.19Moz), and 15 other refiners. It looks like at least one basket was of 'old' silver (U.S. Assay Office, Engelhard, Handy Harmon from 1990, etc.) As of the time that the bar list was produced, it appears that 164.5oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as there are no 164.5oz bars). .9Moz of silver was added yesterday, that will be reflected on next week's bar list.	0	1,318,259.6	334,728,428.3
11 Feb 2011	Analysis of the 11 February 2011 bar list, and comparision to the previous week's list. 976,056.2 ounces were removed (all from the Brinks London vault). No bars were added or changed. The bars removed were from just 5 refiners, with 0% of the silver from COMEX approved refiners (so none can be used directly to settle COMEX short positions). As of the time that the bar list was produced, it appears that 165.9oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as there are no 165.9oz bars). .6Moz of silver was added yesterday, that will be reflected on next week's bar list. It appears that all of the silver that was removed is silver that was added in the first two weeks of December, 2010.	976,056.2	0	333,410,168.7
04 Feb 2011	Analysis of the 04 February 2011 bar list, and comparision to the previous week's list. 1,494,897.1 ounces were removed (all from the Brinks London vault). No bars were added or changed. The bars removed were from 10 refiners, with only about 26% of the silver from COMEX approved refiners. As of the time that the bar list was produced, it appears that 823.7oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as it would be very hard to find an 823.7oz bar). Another 1Moz of silver was removed yesterday, that will be reflected on next week's bar list. Of note, on Wednesday 3 basket's worth of silver (150,000 shares' worth) were removed, but the number of shares was not reduced. We are unsure what would account for this (but have not been tracking daily changes for long). If it were sold for expenses, it would not need to be an exact 3 baskets.	1,494,897.1	0	334,386,224.9
28 Jan 2011	Analysis of the 28 January 2011 bar list, and comparision to the previous week's list. 4,673,914.7 ounces were removed (from the Brinks London vault), and 570,859.5 oz were added (to the Brinks London vault), for a net 4,103,055.2 oz removed. 20 bars in the JPM London V vault, and 1 in the Brinks London vault had the serial numbers changed slightly (e.g. 200908111 to 20090811A1), due to obvious typos. It looks like the auditors moved from the JPM London V vault to the Brinks London vault this week. The bars removed were from 10 refiners, with 58% of the refiners COMEX approved (compared to about 10% or so of silver removed in late 2010). As of the time that the bar list was produced, it appears that just 128.9oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as they don't make 1,000oz bars that weigh 128.9oz). Another .7Moz of silver was removed yesterday, that will be reflected on next week's bar list. The 58% of the removed silver that is COMEX deliverable was all from one refiner, making it hard to tell if this is a continuation of the trend of removing mostly COMEX deliverable silver. More details here.	4,673,914.7	570,859.5	335,901,230.1
21 Jan 2011	Analysis of the 21 January 2011 bar list, and comparision to the previous week's list. 4,835,113.0 ounces were removed (from the 2 JPM London A and Brinks London vaults). 8 bars in the JPM London V vault had the serial numbers changed slightly (e.g. 9772610 to 97172610), due to obvious typos. The auditors are still in the JPM London V vault. The bars removed were from 28 refiners, with 61% of the refiners COMEX approved (compared to about 10% or so of silver removed in late 2010). As of the time that the bar list was produced, it appears that just 28.3oz of silver were in an unallocated account (up to 1,100oz can be in an unallocated account, as they don't make 1,000oz bars that weigh 28.3oz ). Another 1.6Moz of silver was removed yesterday, that will be reflected on next week's bar list. To us, it looks like an AP (almost certainly JPM) 'cherry picked' the 2.9Moz (of the 4.8Moz removed) of bars they redeemed to get only bars that are COMEX approved, which will most likely appear soon in COMEX warehouses in the U.S. Interestingly, some of this COMEX-specific silver came from the Brinks vault. More details here!. About as much silver has been removed from SLV in the past 2 weeks (12.7Moz, including yesteday's 1.6Moz) as was removed in the last 6 months of 2010 (12.5Moz).	4,835,113.0	0	340,004,285.3
14 Jan 2011	Analysis of the 14 January 2011 bar list, and comparision to the previous week's list. 6,297,160.5 ounces were removed (from the 2 JPM vaults). No bars were added. 15 bars had auditing changes. The bars removed were from 32 refiners, with 95% of the refiners COMEX approved (unlike the 90% or so of silver removed in December, which was not). The bars that changed were all from the JPM London V vault, and changed refiner and serial number (the last 1-3 digits of the serial numbers as recorded before were correct, but the missing digits were added). To us, it looks like an AP (almost certainly JPM) 'cherry picked' the 6.3Moz of bars they redeemed to get only bars that are COMEX approved, which will most likely appear soon in COMEX warehouses in the U.S. This was not the case with the 5.8Moz withdraw in December, 2010 (90% of which was from non-COMEX-approved refiners). You saw it here first!. More details here!.	6,297,160.5	0	344,839,398.3
07 Jan 2011	Analysis of the 07 January 2011 bar list, and comparision to the previous week's list. 586,420.6 ounces were added (all to the Brinks London). No bars were removed. 18 bars had auditing changes. All of the bars added were from Russian State Refineries (which has often supplied silver to SLV in the past 6 months). One bar has the serial changed from '78741' to '7841' (typo), and 17 bars had their serials changed from '200545xx' to '200845xx' (a typo that affected bars added 01 Oct 2010, after the last audit). Looking at the bar numbers added on 01 Oct 2010, it seems clear that it was a typo.	0	586,420.6	351,136,558.8
31 Dec 2010	Analysis of the 31 December 2010 bar list, and comparision to the previous week's list. No bars were added, removed, or changed.	0	0	350,550,138.2
24 Dec 2010	Analysis of the 24 December 2010 bar list, and comparision to the previous week's list. 1,954,851.1 ounces were removed (all from the JPM London V vault). No bars were added or changed. Most of the bars removed were from some of the usual refiners: Henan Yuguang Gold and Lead Co Ltd (.5Moz), Inner Mongolia Qiankun Gold & Silver (.1Moz), ...	1,954,851.1	0	350,550,138.2
17 Dec 2010	Analysis of the 17 December 2010 bar list, and comparision to the previous week's list. 733,088.9 ounces were added (all to the JPM London V vault). No bars were removed or changed. Most of the bars added were from some of the usual refiners: Henan Yuguang Gold and Lead Co Ltd (.5Moz), Inner Mongolia Qiankun Gold & Silver (.1Moz), Almalyk Uzbekistan (29,494oz), Nippon Mining Japan (27,779oz), and Mitsubishi Mining Japan (5,835oz).	0	733,088.9	352,504,989.3
10 Dec 2010	Analysis of the 10 December 2010 bar list, and comparision to the previous week's list. 5,100,696.1 ounces were added (to the Brinks London (1Moz) and JPM London V (4Moz) vaults). No bars were removed or changed. Most of the bars added were from some of the usual refiners: Guangxi Chengyuan Mining China (.7Moz), Tongling Nonferrous Metals China (.6Moz), Mitsubishi Mining Japan (.6Moz), Yunnan Copper Ind' Ltd China (.6Moz), and 9 others (including one 969oz bar from Prioksky Russia?!?).	0	5,100,696.1	351,771,900.4
03 Dec 2010	Analysis of the 03 December 2010 bar list, and comparision to the previous week's list. 2,297,205.7 ounces were added (all to the Brinks London vault), and 5,865,762.3 ounces were removed (all from the JPM London V vault), for a net result of 3.5Moz less silver. Most of the bars added were from some of the usual refiners: Krasnoyarsk Russia (.9Moz), Jiangxi Copper Co Ltd (.5Moz), Nordeutsche Germany (.5Moz), and 3 others. Most of the bars removed were also from some of the usual refiners: Henan Yuguang (~1.2Moz), Guangxi Chengyuan (~.8Moz), Tongling Nonferrous (~.7Moz), and 8 others. It appears to be all be recently added silver ("Last In First Out"). It appears that every bar from Guangxi Chengyuan that was added the week of 17 Nov 2010 was removed this week.	5,865,762.3	2,297,205.7	346,668,524.4
26 Nov 2010	Analysis of the 26 November 2010 bar list, and comparision to the previous week's list. 3,859,005.0 ounces were added (about half to Brinks London vault and half to JPM London V vault). No bars were removed or changed. Most of the bars added were from some of the usual refiners: Henan Yuguang Gold and Lead Co Ltd (1.3Moz), Inner Mongolia Qiankun Gold & Silver (.7Moz), Krasnoyarsk Russia (.6Moz), and 9 others.	0	3,859,005.0	350,237,081.0
19 Nov 2010	Analysis of the 19 November 2010 bar list, and comparision to the previous week's list. 16,720,814.4 ounces were added (about half to Via Mat's vault, and half to JPM's V vault). No bars were removed or changed. Most of the bars added were from some of the usual refiners: Krasnoyarsk Russia (2.4Moz), OJSC Kolyma (2.2Moz), Russian State Refineries (2.2Moz), Inner Mongolia Qiankun Gold and Silver (1.8Moz), Yunnan Copper Ind' Ltd China (1.7Moz), and about 11 others.	0	16,720,814.4	346,378,076.0
12 Nov 2010	Analysis of the 12 November 2010 bar list, and comparision to the previous week's list. 3,716,479.6 ounces were added (all to the Brinks London Vault). No bars were removed or changed. Most of the bars added were from some of the usual refiners: Krasnoyarsk Russia (1.1Moz), Russian State Refineries (.9Moz), Yunnan Copper Ind' Ltd China (.8Moz). There are about 15.1Moz added this week before the bar list was finalized, which will appear in next weeks list.	0	3,716,479.6	329,490,355.2
05 Nov 2010	Analysis of the 05 November 2010 bar list, and comparision to the previous week's list. 2,769,654.8 ounces were removed (all from JPM London V Vault). No bars were added or changed. Most or all bars that were removed were ones added in the weeks of 15 Oct 2010 or 22 Oct 2010.	2,769,654.8	0	325,773,875.2
29 Oct 2010	Analysis of the 29 October 2010 bar list, and comparision to the previous week's list. No bars were added, removed or changed. 1,201,872.4oz has been removed since this list was prepared (per the SLV overview), which should appear in next week's bar list.	0	0	328,543,539.2
22 Oct 2010	Analysis of the 22 October 2010 bar list, and comparision to the previous week's list. 3,178,719.6 ounces (3,213 bars) were added, all to the JPM London V vault. No bars were removed or changed. 167,268.8oz has been added since this list was prepared (per the SLV overview), which should appear in next week's bar list. The bars were from Inner Mongolia Qiankun Gold & Silver (1Moz), Yunnan Copper Ind' Ltd China (.6Moz), Britannia Refined Metals (.3Moz), Almalyk Uzbekistan (.2Moz), and about 25 other refiners.	0	3,178,719.6	328543539.2
15 Oct 2010	Analysis of the 15 October 2010 bar list, and comparision to the previous week's list. 7,926,292.0 ounces (8,117 bars) were added, to the Brinks London (4.7Moz), Via Mat (.6Moz), and JPM London V (2.5Moz) vaults. No bars were removed or changed. 1.39Moz has been added since this list was prepared (per the SLV overview), which should appear in next week's bar list. The bars were from Britannia Refined Metals (1.4Moz), Krasnoyarsk Russia (1.4Moz), Prioksky Russia (.8Moz), Solar Applied Materials Co Taiwan (.7Moz), OJSC Kolyma (.7Moz), Zhuzhou Smelter China (.6Moz), and about 30 other refiners.	0	7,926,292.0	325,364,812.8
08 Oct 2010	Analysis of the 08 October 2010 bar list, and comparision to the previous week's list. 3,754,978.0 ounces (3,945 bars) were added, all to the Brinks London vault. No bars were removed or changed. 4.00Moz has been added since this list was prepared (per the SLV overview), which should appear in next week's bar list. The bars were from Solar Applied Materials Corp Taiwan (1.4Moz), Nordeutsche Germany (.9Moz), Korea Zinc Co Ltd (.6Moz), Henan Yuguang Gold and Lead Co Ltd (.4Moz, bars dated 2009) and Jiangxi Copper Co Ltd (.4Moz).	0	3,754,978.0	317,418,419.2
01 Oct 2010	Analysis of the 01 October 2010 bar list, and comparision to the previous week's list. 7,924,674.4 ounces (8,192 bars) were added, to the Brinks London (5.5Moz) and JPM London V (2.3Moz) vaults. No bars were removed or changed. About 1Moz has been added since this list was prepared (per the SLV overview), which will appear in next week's bar list. The majority of the bars were from Solar Applied Materials Corp Taiwan (1Moz), Jiangxi Copper Co Ltd (1Moz), Russian State Refineries (1Moz), and Nordeutsche Germany (850Moz), with bars from 20 other refineries.	0	7,924,674.4	313,663,436.8
24 Sep 2010	Analysis of the 24 September 2010 bar list, and comparision to the previous week's list. 5,332,075.2 ounces (5,837 bars) were added, to the Via Mat (~1Moz), Brinks London (~3Moz), and Brinks London A (~1Moz) vaults. The majority of the bars were from Nordeutsche Germany (3Moz, exactly 3,000 bars), with a lot from Inner Mongolia Qiankun Gold & Silver (~1Moz), Russian State Refineries and Solar Applied Materials Corp Taiwan (about 600,000 ounces each). No bars were removed or changed. Also note that another 2.3Moz has been added since this list was prepared (per the SLV overview), which will appear in next week's bar list.	0	5,332,075.2	305,738,777.6
17 Sep 2010	Analysis of the 17 September 2010 bar list, and comparision to the previous week's list. 2,153,109.6 ounces (2,235 bars) were added, just to the Via Mat International vault, the majority from Krasnoyarsk Russia, Russian State Refineries, and Solar Applied Materials Corp Taiwan. No bars were removed or changed.	0	2,153,109.6	300,406,681.6
10 Sep 2010	Analysis of the 10 September 2010 bar list, and comparision to the previous week's list. 1,651,953.6 ounces (1,730 bars) were added, just to the JPM London V vault, the majority from Britannia Refined Metals, Henan Yuguang Gold and Lead Co, and OJSC Kolyma. 57,424.8 ounces (56 bars) were removed, also from JPM London V. No bars were changed. Notice the similarity to last week's deposit (both appear to be exactly 34 baskets), and that one basket was removed.	57,424.8	1,651,953.6	298,253,593.6
03 Sep 2010	Analysis of the 03 September 2010 bar list, and comparision to the previous week's list. 1,664,343.7 ounces (1,777 bars) were added, to the JPM London V and Brinks London vaults. No bars were removed or changed. Most bars were from Henan Yuguang Gold and Lead Co (most bars refined in 2008), Nordeutsche Germany, and Russian State Refineries.	0	1,664,343.7	296,659,046.4
27 Aug 2010	Analysis of the 27 August 2010 bar list, and comparision to the previous week's list. 783,295.9 ounces (811 bars) were added, all to JPM London V vault, the majority from Britannia Refined Metals (with quite a few from Henan Yuguang Gold and Lead Co as well).	0	783,295.9	294,994,713.6
20 Aug 2010	Analysis of the 20 August 2010 bar list, and comparision to the previous week's list. No bars were added, removed, or changed.	0	0	294,211,404.8
13 Aug 2010	Analysis of the 13 August 2010 bar list, and comparision to the previous week's list. 979,028.8 ounces were removed (all from JPM London A Vault). No bars were added or changed. A quick glance suggests that these bars are not ones that were added in early July (so it is not 'first in first out')	979,028.8	0	294,211,404.8
06 Aug 2010	Analysis of the 06 August 2010 bar list, and comparision to the previous week's list. 123,318.5 ounces were removed (all from JPM London V vault). No bars were added or changed.	123,318.5	0	295,190,451.2
30 Jul 2010	Analysis of the 30 July 2010 bar list, and comparision to the previous week's list. No bars added, removed, or changed.	0	0	295,313,766.4
23 Jul 2010	Analysis of the 23 July 2010 bar list, and comparision to the previous week's list. No bars added, removed, or changed.	0	0	295,313,766.4
16 Jul 2010	Analysis of the 16 July 2010 bar list, and comparision to the previous week's list. 1,077,692.5 ounces were added (all to JPM London V vault).	0	1,077,692.5	295,313,766.4
09 Jul 2010	Analysis of the 09 July 2010 bar list, and comparision to the previous week's list. 806,236.0 ounces were removed (686K from JPM London A, 119K from JPM London V).	806,236.0	0	294,236,057.6
02 Jul 2010	[We do not have access to the previous bar list]			295,042,304.0

Daily Updates

Date	Ounces Added/Removed	Shares Added/Removed	Total Ounces	Total Shares	Notes
Tue 21 Feb 2012 20:00			307,700,912.0	316,600,000	Should be on the 22 Feb 2012 bar list.
Wed 15 Feb 2012 20:00	-1,068,874.4	-1,100,000	308,381,076.8	317,300,000	Should be on the 22 Feb 2012 bar list.
Tue 14 Feb 2012 20:00	-1,068,889.8	-1,100,000	309,449,951.2	318,400,000	Should be on the 22 Feb 2012 bar list.
Mon 13 Feb 2012 20:00	-1,360,461.2	-1,400,000	310,518,841.0	319,500,000	On the 15 Feb 2012 bar list.
Thu 09 Feb 2012 20:00	1,166,143.2	1,200,000	311,879,302.2	320,900,000	On the 15 Feb 2012 bar list.
Mon 06 Feb 2012 20:00	485,925.0	500,000	310,713,159.0	319,700,000	On the 08 Feb 2012 bar list.
Fri 03 Feb 2012 20:00	874,677.6	900,000	310,227,234.0	319,200,000	On the 08 Feb 2012 bar list.
Thu 02 Feb 2012 20:00	417,506.7	550,000	309,352,556.4	318,300,000	On the 08 Feb 2012 bar list. Appears to incorporate a withdrawal for monthly expenses.
Mon 30 Jan 2012 20:00	3,158,805.0	3,250,000	308,935,049.7	317,750,000	On the 01 Feb 2012 bar list.
Tue 25 Jan 2012 20:00	-194,396.4	-200,000	305,776,244.7	314,500,000	On the 25 Jan 2012 bar list.
Thu 05 Jan 2012 20:00	-972,210.0	-1,000,000	305,970,641.1	314,700,000	On the 11 Jan 2012 bar list.
Wed 04 Jan 2012 20:00	-1,890,444.4	-1,800,000	306,942,851.1	315,700,000	On the 11 Jan 2012 bar list.
Fri 23 Dec 2011 20:00	-3,014,396.6	-3,100,000	308,833,295.5	317,500,000	On the 28 Dec 2011 bar list.
Thu 22 Dec 2011 20:00	48,620.2	50,000	311,847,692.1	320,600,000	On the 28 Dec 2011 bar list.
Mon 19 Dec 2011 20:00	-1,458,705.0	-1,500,000	311,799,071.9	320,550,000	On the 21 Dec 2011 bar list.
Thu 15 Dec 2011 20:00	-826,623.3	-850,000	313,257,776.9	322,050,000	On the 21 Dec 2011 bar list.
Thu 08 Dec 2011 20:00	1,361,648.4	1,400,000	314,084,400.2	322,900,000	On the 14 Dec 2011 bar list.
Wed 07 Dec 2011 20:00	972,618.0	1,000,000	312,722,751.8	321,500,000	On the 14 Dec 2011 bar list.
Tue 06 Dec 2011 20:00	-194,526.4	-200,000	311,750,133.8	320,500,000	On the 07 Dec 2011 bar list.
Thu 02 Dec 2011 20:00	-127,821.3	0	311,944,660.2	320,700,000	Appears to be a withdrawal to pay expenses. On the 07 Dec 2011 bar list.
Wed 30 Nov 2011 20:00	2,529,009.6	2,600,000	312,072,481.5	320,700,000	On the 07 Dec 2011 bar list.
Wed 23 Nov 2011 20:00	-1,848,297.2	-1,900,000	309,543,471.9	318,100,000	On the 30 Nov 2011 bar list.
Mon 21 Nov 2011 20:00	-972,844.0	-1,000,000	311,391,769.1	320,000,000	On the 23 Nov 2011 bar list.
Fri 18 Nov 2011 20:00	-2,188,948.5	-2,250,000	312,364,613.1	321,000,000	On the 23 Nov 2011 bar list.
Tue 08 Nov 2011 20:00	827,055.1	850,000	314,553,561.6	323,250,000	On the 16 Nov 2011 bar list.
Mon 07 Nov 2011 20:00	-389,217.6	-400,000	313,726,506.5	322,400,000	On the 09 Nov 2011 bar list.
Thu 03 Nov 2011 20:00	-194,614.0	-200,000	314,115,724.1	322,800,000	On the 09 Nov 2011 bar list.
Wed 02 Nov 2011 20:00	-130,772.5	0	314,310,338.1	323,000,000	Appears to be a withdrawal to pay expenses. On the 09 Nov 2011 bar list.
Tue 01 Nov 2011 20:00	535,211.6	550,000	314,441,110.6	323,000,000	On the 09 Nov 2011 bar list.
Fri 28 Oct 2011 20:00	924,502.0	950,000	313,905,899.0	322,450,000	On the 02 Nov 2011 bar list.
Tue 25 Oct 2011 20:00	-3,406,130.0	-3,500,000	312,981,397.0	321,500,000	On the 02 Nov 2011 bar list.
Fri 21 Oct 2011 20:00	-1,070,546.4	-1,100,000	316,387,527.0	325,000,000	On the 26 Oct 2011 bar list.
Wed 19 Oct 2011 20:00	-632,611.2	-650,000	317,458,073.4	326,100,000	On the 26 Oct 2011 bar list.
Tue 18 Oct 2011 20:00	-1,946,552.0	-2,000,000	318,090,684.6	326,750,000	On the 26 Oct 2011 bar list.
Mon 10 Oct 2011 20:00	-1,654,793.6	-1,700,000	320,037,236.6	328,750,000	On the 19 Oct 2011 bar list.
Fri 07 Oct 2011 20:00	486,710.0	500,000	321,692,030.2	330,450,000	On the 12 Oct 2011 bar list.
Mon 04 Oct 2011 20:00	-163,102.7	0	321,205,320.2	329,950,000	On the 05 Oct 2011 bar list. Appears to be a withdrawl for expenses.
Fri 30 Sep 2011 20:00	-1,654,935.2	-1,700,000	321,368,422.9	329,950,000	Part on the 28 Sep 2011 bar list, rest on the 05 Oct 2011 bar list.
Thu 29 Sep 2011 20:00	-730,143.0	-750,000	323,023,358.1	331,650,000	Part on the 28 Sep 2011 bar list, rest on the 05 Oct 2011 bar list.
Tue 27 Sep 2011 20:00	3,699,315.2	3,800,000	323,753,501.1	332,400,000	Part on the 28 Sep 2011 bar list, rest on the 05 Oct 2011 bar list.
Mon 26 Sep 2011 20:00	2,774,799.9	2,850,000	320,054,185.9	328,600,000	On the 28 Sep 2011 bar list.
Thu 22 Sep 2011 20:00	-973,710.0	-1,000,000	317,279,386.0	325,750,000	On the 28 Sep 2011 bar list.
Wed 21 Sep 2011 20:00	-730,287.0	-750,000	318,253,096.0	326,750,000	On the 28 Sep 2011 bar list.
Tue 20 Sep 2011 20:00	-1,119,798.7	-1,150,000	318,983,383.0	327,500,000	On the 28 Sep 2011 bar list.
Wed 14 Sep 2011 18:00	973,832.0	1,000,000	320,103,181.7	328,650,000	On the 21 Sep 2011 bar list.
Mon 12 Sep 2011 18:00	2,288,597.4	2,350,000	319,129,349.7	327,650,000	On the 14 Sep 2011 bar list.
Wed 07 Sep 2011 18:00	2,337,398.4	2,400,000	316,840,752.3	325,300,000	On the 14 Sep 2011 bar list.
Fri 02 Sep 2011 18:00	1,136,365.1	1,300,000	314,503,353.9	322,900,000	07 Sep 2011 bar list.
Mon 29 Aug 2011 18:00	827,949.3	850,000	313,366,988.8	321,600,000	On the 31 Aug 2011 bar list.
Fri 26 Aug 2011 17:00	487,027.0	500,000	312,539,039.5	320,750,000	On the 31 Aug 2011 bar list.
Thu 25 Aug 2011 17:00	-4,188,596.6	-4,300,000	312,052,012.5	320,250,000	On the 31 Aug 2011 bar list.
Wed 24 Aug 2011 18:00	-1,948,223.0	-2,000,000	316,240,609.1	324,550,000	On the 31 Aug 2011 bar list.
Tue 23 Aug 2011 17:00	4,286,172.0	4,400,000	318,188,832.1	326,550,000	On the 31 Aug 2011 bar list.
Mon 22 Aug 2011 17:00	584,496.0	600,000	313,902,660.1	322,150,000	On the 24 Aug 2011 bar list.
Thu 18 Aug 2011 17:00	584,504.4	600,000	313,318,164.1	321,550,000	On the 24 Aug 2011 bar list.
Wed 17 Aug 2011 17:00	681,928.8	700,000	312,733,659.7	320,950,000	On the 17 Aug 2011 bar list.
Fri 12 Aug 2011 17:00	-2,143,345.6	-2,200,000	312,051,730.9	320,250,000	On the 17 Aug 2011 bar list.
Wed 10 Aug 2011 17:00	-3,799,660.8	-3,900,000	314,195,076.5	322,450,000	On the 17 Aug 2011 bar list.
Mon 08 Aug 2011 17:00	-3,848,603.5	-3,950,000	317,994,737.3	326,350,000	On the 10 Aug 2011 bar list.
Wed 04 Aug 2011 17:00	4,871,800.0	5,000,000	321,843,340.8	330,300,000	On the 10 Aug 2011 bar list.
Wed 03 Aug 2011 17:00	1,092,620.7	1,250,000	316,971,540.8	325,300,000	On the 10 Aug 2011 bar list.
Mon 01 Aug 2011 17:00	-2,923,272.1	-3,000,000	315,878,920.1	324,050,000	Most on the 03 Aug 2011 bar list, rest on 10 Aug 2011 bar list.
Tue 26 Jul 2011 17:00	779,588.9	800,000	318,802,192.2	327,050,000	On the 03 Aug 2011 bar list.
Mon 25 Jul 2011 17:00	1,364,325.2	1,400,000	318,022,603.3	326,250,000	On the 27 Jul 2011 bar list.
Thu 21 Jul 2011 17:00	1,461,807.0	1,500,000	316,658,278.1	324,850,000	On the 27 Jul 2011 bar list.
Wed 20 Jul 2011 17:00	-1,949,124.0	-2,000,000	315,196,471.1	323,350,000	On the 27 Jul 2011 bar list.
Tue 19 Jul 2011 17:00	6,139,828.8	6,300,000	317,145,595.1	325,350,000	Part on the 20 Jul 2011 bar list, part on the 27 Jul 2011 bar list.
Mon 18 Jul 2011 17:00	1,266,985.2	1,300,000	311,005,766.3	319,050,000	On the 20 Jul 2011 bar list.
Wed 14 Jul 2011 17:00	4,288,363.2	4,400,000	309,738,781.1	317,750,000	On the 20 Jul 2011 bar list.
Mon 12 Jul 2011 17:00	-1,023,422.4	-1,050,000	305,450,417.9	313,350,000	On the 13 Jul 2011 bar list.
Tue 05 Jul 2011 17:00	-136,495.1	0	306,473,840.3	314,400,000	Appears to be a withdrawal to pay expenses. On the 06 Jul 2011 bar list.
Thu 30 Jun 2011 17:00	-1,413,465.8	-1,450,000	306,610,335.4	314,400,000	On the 06 Jul 2011 bar list.
Wed 29 Jun 2011 17:00	-633,631.7	-650,000	308,023,801.2	315,850,000	On the 06 Jul 2011 bar list.
Tue 28 Jun 2011 17:00	-682,382.4	-700,000	308,657,432.9	316,500,000	On the 29 Jun 2011 bar list.
Fri 24 Jun 2011 17:00	926,172.1	950,000	309,339,815.3	317,200,000	On the 29 Jun 2011 bar list.
Thu 23 Jun 2011 17:00	1,072,396.6	1,100,000	308,267,418.7	316,100,000	On the 29 Jun 2011 bar list.
Tue 21 Jun 2011 17:00	779,947.2	800,000	307,341,246.6	315,150,000	On the 29 Jun 2011 bar list.
Mon 20 Jun 2011 17:00	-2,924,940.0	-3,000,000	306,561,299.4	314,350,000	On the 22 Jun 2011 bar list.
Fri 17 Jun 2011 18:00	-438,748.2	-450,000	309,486,239.4	317,350,000	On the 22 Jun 2011 bar list.
Thu 16 Jun 2011 17:00	-828,755.1	-850,000	309,924,987.6	317,800,000	On the 22 Jun 2011 bar list.
Tue 14 Jun 2011 17:00	-1,365,047.6	-6,800,000	310,753,742.7	318,650,000	On the 15 Jun 2011 bar list.
Mon 13 Jun 2011 18:00	-6,630,571.2	-1,400,000	312,118,790.3	320,050,000	On the 15 Jun 2011 bar list.
Tue 07 Jun 2011 17:30	926,379.2	950,000	318,749,361.5	326,850,000	On the 08 Jun 2011 bar list.
Fri 04 Jun 2011 18:00	-1,657,819.6	-1,700,000	317,822,982.3	325,900,000	On the 08 Jun 2011 bar list.
Thu 03 Jun 2011 18:00	-140,449.0	0	319,480,801.9	327,600,000	Appears to be a withdrawal to pay expenses. On the 08 Jun 2011 bar list.
Wed 25 May 2011 18:00	-4,632,618.0	-4,750,000	319,621,250.9	327,600,000	On the 01 Jun 2011 bar list.
Tue 24 May 2011 18:00	-1,657,993.0	-1,700,000	324,253,868.9	332,350,000	On the 01 Jun 2011 bar list.
Mon 23 May 2011 18:00	-487,666.0	-500,000	325,911,861.9	334,050,000	On 25 May 2011 bar list.
Fri 20 May 2011 18:00	-1,658,098.4	-1,700,000	326,399,527.9	334,550,000	On 25 May 2011 bar list.
Thu 19 May 2011 18:00	-7,802,864.0	-8,000,000	328,057,626.3	336,250,000	On 25 May 2011 bar list.
Wed 18 May 2011 18:00	-1,316,746.8	-1,350,000	335,860,490.3	344,250,000	On 25 May 2011 bar list.
Tue 17 May 2011 18:00	146,307.3	150,000	337,177,237.1	345,600,000	On 18 May 2011 bar list.
Mon 16 May 2011 18:00	-1,658,237.8	-1,700,000	337,030,929.8	345,450,000	On 18 May 2011 bar list.
Fri 13 May 2011 18:00	585,255.6	600,000	338,689,167.6	347,150,000	On 18 May 2011 bar list.
Thu 12 May 2011 18:00	-780,379.2	-800,000	338,103,912.0	346,550,000	On 18 May 2011 bar list.
Wed 11 May 2011 17:30	-1,463,226.0	-1,500,000	338,884,291.2	347,350,000	On 18 May 2011 bar list.
Tue 10 May 2011 17:30	682,847.2	700,000	340,347,517.2	348,850,000	On 11 May 2011 bar list.
Mon 09 May 2011 17:30	9,999,080.0	10,250,000	339,664,670.0	348,150,000	On 11 May 2011 bar list.
Fri 06 May 2011 18:00	-487,772.0	-500,000	329,665,590.0	337,900,000	On 11 May 2011 bar list.
Thu 05 May 2011 18:00	-3,804,699.6	-3,900,000	330,153,362.0	338,400,000	On 11 May 2011 bar list.
Wed 04 May 2011 18:00	-16,776,286.0	-17,050,000	333,958,061.6	342,300,000	On 11 May 2011 bar list.
Tue 03 May 2011 18:00	-3,365,964.9	-3,450,000	350,734,347.6	359,350,000	Most on 05 May 2011 bar list, rest on 12 May 2011 bar list.
Mon 02 May 2011 18:00	-243,920.5	-250,000	354,100,312.5	362,800,000	On 05 May 2011 bar list.
Wed 29 Apr 2011 20:00	-1,024,480.8	-1,050,000	354,344,233.0	363,050,000	On 05 May 2011 bar list.
Wed 27 Apr 2011 18:00	-6,390,835.0	-6,550,000	355,368,713.8	364,100,000	On 05 May 2011 bar list.
Tue 26 Apr 2011 17:30	-4,439,516.9	-4,550,000	361,759,548.8	370,650,000	On 05 May 2011 bar list.
Mon 25 Apr 2011 18:00	7,708,583.0	7,900,000	366,199,065.7	375,200,000	On 27 Apr 2011 bar list.
Thu 21 Apr 2011 17:30	-1,073,353.6	-1,100,000	358,490,482.7	367,300,000	On 27 Apr 2011 bar list.
Wed 20 Apr 2011 17:30	2,146,716.0	2,200,000	359,563,836.3	368,400,000	On 27 Apr 2011 bar list.
Tue 19 Apr 2011 17:00	2,341,900.8	2,400,000	357,417,120.3	366,200,000	On 27 Apr 2011 bar list.
Fri 15 Apr 2011 17:00	2,244,422.8	2,300,000	355,075,219.5	363,800,000	On 20 Apr 2011 bar list.
Thu 14 Apr 2011 17:30	146,376.9	150,000	352,830,796.7	361,500,000	On 20 Apr 2011 bar list.
Wed 13 Apr 2011 17:00	-7,806,880	-8,000,000	352,684,419.8	361,350,000	On 20 Apr 2011 bar list.
Tue 12 Apr 2011 17:30	-975,878.0	-1,000,000	360,491,299.8	369,350,000	On 20 Apr 2011 bar list.
Fri 08 Apr 2011 17:30	1,610,277.9	1,650,000	361,467,177.8	370,350,000	On 13 Apr 2011 bar list.
Thu 07 Apr 2011 17:30	975,940.0	1,000,000	359,856,899.9	368,700,000	On 13 Apr 2011 bar list.
Mon 04 Apr 2011 17:00	737,152.7	900,000	358,880,959.9	367,700,000	On the 07 Apr 2011 bar list.
Thu 24 Mar 2011 18:00	5,759,072.6	5,900,000	358,143,807.2	366,800,000	On the 30 Mar 2011 bar list. Was actually a deposit of 6,267,983.7oz and withdrawal of 509,172.8oz on the same day!
Fri 18 Mar 2011 17:00	488,089.0	500,000	352,384,734.6	360,900,000	On the 23 Mar 2011 bar list.
Wed 16 Mar 2011 17:00	1,220,250.0	1,250,000	351,896,645.6	360,400,000	On the 23 Mar 2011 bar list.
Tue 15 Mar 2011 18:00	-1,610,776.2	1,650,000	350,676,395.6	359,150,000	On the 23 Mar 2011 bar list.
Fri 11 Mar 2011 17:00	-536,950.7	-550,000	352,287,171.8	360,800,000	On the 17 Mar 2011 bar list.
Wed 09 Mar 2011 18:00	1,952,612.0	2,000,000	352,824,122.5	361,350,000	On the 17 Mar 2011 bar list.
Tue 08 Mar 2011 18:00	488,160.0	500,000	350,871,510.5	359,350,000	On the 17 Mar 2011 bar list.
Mon 07 Mar 2011 17:30	3,319,603.6	3,400,000	350,383,350.5	358,850,000	Included on the 10 Mar 2011 bar list.
Thu 03 Mar 2011 17:30	976,380.0	1,000,000	347,063,746.9	355,450,000	Included on the 10 Mar 2011 bar list.
Wed 02 Mar 2011 16:45	3,156,350.1	3,350,000	346,087,366.900	354,450,000	763,776.1 included on the 04 Mar 2011 bar list. 2,392,574.0oz appears on the 10 Mar 2011 bar list.
Thu 24 Feb 2011 16:45	2,929,386.0	3,000,000	342,931,016.800	351,100,000	Included on the 04 Mar 2011 bar list.
Wed 23 Feb 2011 16:45	7,470,010.8	7,650,000	340,001,630.800	348,100,000	22 of 153 baskets included on the 25 Feb 2011 bar list, the rest appear on the 04 Mar 2011 bar list.
Tue 22 Feb 2011 16:45	-5,663,804.4	5,800,000	332,531,620.0	340,450,000	Included on the 25 Feb 2011 bar list.
Fri 18 Feb 2011 16:45	2,587,783.3	2,650,000	338,195,424.40	346,250,000	Included on the 25 Feb 2011 bar list.
Thu 17 Feb 2011 16:45	878,882.4	900,000	335,607,641.10	343,600,000	Included on the 25 Feb 2011 bar list.
Mon 14 Feb 2011 16:45	732,448.5	750,000	334,728,758.7	342,700,000	Included on the 18 Feb 2011 bar list.
Thu 10 Feb 2011 16:45	585,975.6	600,000	333,996,310.200	341,950,000	Included on the 18 Feb 2011 bar list.
Thu 03 Feb 2011 16:45	-976,714.0	-1,000,000	333,410,334.600	341,350,000	Included on the 11 Feb 2011 bar list.
Wed 02 Feb 2011 16:56	-146,846.4	0	334,387,048.600	342,350,000	3 baskets worth of silver was removed, but the number of shares stayed the same. Included on 04 Feb 2011 bar list.
Tue 01 Feb 2011 16:46	-683,712.4	-700,000	334,533,895.000	342,350,000	Included on 04 Feb 2011 bar list.
Thu 27 Jan 2011 16:57	-683,751.6	-700,000	335,217,607.400	343,050,000	Included on 04 Feb 2011 bar list.
Tue 25 Jan 2011 17:48	-976,820	-1,000,000	335,901,359.000	343,750,000	Included on 28 Jan 2011 bar list.
Mon 24 Jan 2011 17:09	2,686,348.5	2,750,000	336,878,179.000	344,750,000	Included on 28 Jan 2011 bar list.
Fri 21 Jan 2011 17:56	-4,249,436.7	-4,350,000	334,191,830.500	342,000,000	Included on 28 Jan 2011 bar list.
Thu 20 Jan 2011 17:45	-1,563,046.4	-1,600,000	338,441,267.200	346,350,000	Included on 28 Jan 2011 bar list.
Thu 20 Jan 2011 16:37	0	0	340,004,313.600	347,950,000	Our initial reading.

Silver ETF (SLV) Bar List Analysis

Shortly after the SLV silver ETF was started, they started offering a list of the bars in the trust to help alleviate concerns that the public had that the bars may not exist. Shortly after the list was published, people noticed what appeared to be the same bars listed twice. This is because London Good Delivery bars can be uniquely identified by the refiner, the serial number, and the year (the weight appears on the bar, but there can only be one bar with the same refiner, serial number, and year). The SLV bar list only includes the year if it is included as part of the serial number (e.g. '2010-1234'), not if it appears elsewhere on the bar.

We are aware of one organization that took the time to go through the list of bars, and look for duplicates. But they did not seem to understand why the duplicates are occurring, so their report made it sound like there was fraud involved. But to our knowledge, nobody has attempted to analyze the bar lists (or compare them to one another). So we set out to do so.

It isn't an easy task, with 300,000 or so bars in an 8,000 page .PDF file. Fortunately, the .PDF file is no longer secured, but Adobe Reader crashes if you try to export the text, so other methods are required for extracting the data. But we managed to do it!

Our analysis files include a lot; they have a breakdown of warehouses and refiners, a list of all bars added or removed in the previous week, changes in serial numbers, changes in refiners, etc.

What we found was that nothing appears amiss. There are lots of the bars that have the same refiner and serial number (with an unknown year), but they are clustered to specific refiners (which is normal, as many refiners do not duplicate serial numbers), and the weights appeared to be distributed properly (with the vast majority of 'duplicate' bars having different weights, as would be expected).

Without further ado, for those that have as much free time on their hands as we do, or who love boring stuff, here's the data!

[22 Nov 2010 Note: There was a glitch in our analysis software, that caused bars from a new refinery to not be counted, causing out some of our counts to be off, such as 'bars added' and the total counts. This has been fixed. Some of the 'added', 'removed', and 'current' totals in earlier reports may be off slightly.]

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