precious metals var jason brief discussion last night think discuss issues respect calculating var deal proposing var model illustrated set accept term structure delta positions prices vols may difficult translate silver mine position inputs think simply take net silver content mine make assumptions vol price var model also assumes certain amount liquidity market 1 day holding period properly would need understand fully deal priced sensitivities ultimately effect change mtm future essentially var supposed predict need work need contact steve help prioritise time also need consult vince kaminski tanya tamarachenko houston advice rac also assist process please contact questions kirstee x 34529