We built something which is a high security world but is also a place where people can come and we wanted to create transparency and we think nowadays that's a very important feature. So the facility itself can store 10,000 tons of silver that's about 32% of all production 500 tons of gold and we are planning to expand another 2,000 tons to 2,500 tons.

This is the silver vault. It's guarded by a 2 and a half ton door is rated as a UL class one door which means it's capable of withstanding intruders from going in for at least 30 minutes. So every time when we enter a sensitive area, it requires two personnel from the safe house to unlock the door.

And what made us buy this building was the floor loading because as you mentioned gold and silvers are very heavy, right? And so often times it's not the amount of space you need but how much weight can you put on the ground before it starts cracking. A normal car park for example is 2 ton in floor loading. Our floor in our main area is 90 tons. So we are 45 times stronger than a car park. And because of that I can put about 9.5 tons of weight in one square meter. And so I can stack my silver 12 m high.

All items informations are all kept offline which means there is totally no way to actually connect to the internet to actually steal data. I mean because data today is a very very precious commodity to the company.

When you buy something, we want to make sure it's your ownership. It's not on our balance sheet. And the best way of doing it is for you to buy the bar and get an invoice just like you buy an ice cream basically. And then once you buy it, you can choose to take it home or we can store it for you and we store that specific bar on your behalf. So we are an agent who stores it and provides liquidity and ensures it. But you can take delivery of it anytime and you get photos of it, audit reports and so on and so on.

The bigger gold bars, they have a serial number. So you buy the bar by serial numbers. Some of the smaller bars, they don't have one, but we put it in a temper evident bag with a serial number and then you buy the serial number that is associated with it. But you always have a specific item. And that's very important because if you don't have that, then you don't know is maybe this bar has been sold to five different clients. How do you know? Because that's something happens a lot in the industry. If people don't check the small print, they think they own something when in reality it's a liability and the seller can sell it many times over.

Precious metals do best in a crisis. They do best when you have a stagflation. Especially what's happening now in the Middle East, we having energy disruptions. We are having food disruptions because one third of all fertilizer is coming from the Middle East.

If you make semiconductors you need helium and helium is produced as a byproduct from gas extraction. Now both Taiwan and South Korea are getting the vast majority of the helium from Qatar. Taiwan is getting over 70% from Qatar from one facility and that facility was damaged recently. So there's almost no helium coming out from Qatar anymore. And this might be the situation for the next 2 or 3 years. If 70% of the helium supply for Taiwan is no longer there, where are all the Nvidia chips built? They're going to fight over the helium. No matter what, there's going to be a lot less chips being made, which means the price has to go up. So now we have electronics having to go up. We have food going up. We have electricity going up. And we have gasoline going up. You're going to have stagflation.

The demand for silver is inelastic meaning even if the price go up you still need to get that silver. At the same time the supply of silver is also inelastic because there are almost no silver mines out there. Most silver is produced as a byproduct of nickel of tin and other metals like this. And if the price goes up, it takes 5 to 10 to 12 years for new production to come online.

As a matter of fact, over the last 6 years, we had deficits every year. The supply was around 1 billion ounces. Deficit was 200 million ounces, which means 20%. LBMA system only has 600 million ounces roughly. Of that amount, a lot of it is already taken by private owners, which means there only about 200 million of free floating. That means that the silver available in the system is only going to last one year. That's how much shortage we have in the system.

Geopolitically what makes Singapore interesting? Singapore is very wealthy. If you're going to store your gold in times of crisis, you don't want to store it with a government which is heavily in debt. The next point is if Singapore were to nationalize gold or betray that confidence, it's economic suicide. The third factor is Singapore is neutral. It's actually well defended. Singapore is one of the few countries which will be trusted both by China and by the United States.

Gold or silver is physical and it's not going to collapse or disappear if there's a banking crisis. And there's a saying, you know, two is one, one is none. Meaning that the gold or silver you put in a jurisdiction like this, it's meant to be your backup plan. So in case things go wrong, have a little bit here, have a little bit there. It makes a lot of sense.