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The E-Sylum: Volume 12, Number 23, June 7, 2009, Article 23

ROYAL CANADIAN MINT CAN'T ACCOUNT FOR MISSING PRECIOUS METAL

And speaking of gold, the Royal Canadian Mint is having trouble locating some of its inventory of precious metals. -Editor
Royal Canadian Mint loonie A significant quantity of gold, silver and other precious metals is unaccounted for at the Royal Canadian Mint.

External auditors are investigating a discrepancy between the mint's 2008 financial accounting of its precious metals holdings and the physical stockpile at the plant on Sussex Drive in Ottawa.

The mystery raises possibilities from sloppy bookkeeping to a gold heist.

Officials with the commercial Crown corporation are saying little and refuse to confirm the amount and value of the unaccounted for gold, silver and palladium.

"We're taking this very seriously. We're conducting a thorough review and we're expected to have that completed within the month. (It) includes the analysis of precious metal by-products and financial data. We've allocated all necessary resources to this review."

She stressed police have not been called into what mint officials consider an internal matter. She would not say whether the gold and other metals in question were part of the refinery and bullion operation or one of the mint's three other business lines: producing Canadian circulating coins, designing and producing coinage for foreign countries, and numismatics.

"We're looking at many different angles right now," she said.

To read the complete article, see: Mint can't account for missing gold (www.calgaryherald.com/Business/Mint+account+missing+gold/1656084/story.html)



Wayne Homren, Editor

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