Missing Silver Bars Bring Mining Community | Commodities

As miners, delegates and industry insiders dispersed after the Prospectors & Builders Affiliation of Canada conference (PDAC), news circulated on X, previously Twitter, that two 10 ounce bars of silver have been lacking.

The bars have been owned by Arlen Hansen, founder of Kin Communications and host of the Kinvestor Report. In a post on X, Hansen defined that he bought the bars from First Majestic Silver (TSX:FR,NYSE:AG) during the occasion.

The silver, with a whole estimated worth of US$647, was checked inside Hansen’s bag as he boarded his Vancouver-bound Air Canada (TSX:AC,OTCQX:ACDF) flight following the convention. From there, the white steel was destined for a silent public sale in help of Canadian kids dwelling with diabetes.

Nevertheless, based on Hansen’s post, the silver by no means arrived at its closing vacation spot.

MY SILVER BARS WERE STOLEN.

I’d ❤️ to listen to from somebody at @AirCanada as to what occurred to twenty ounces of #silver in my checked-in bag, purchased from @FMSilverCorp at @the_PDAC. It definitely was not there once I arrived home.

Whereas I hope this went to somebody that… pic.twitter.com/0zKhQVQHHg

— Arlen Hansen (@ArlenHansen) March 5, 2025

“I don’t need a refund, a free upgrade, or more points, this was stolen from the children who need it, not me,” Hansen wrote on X, including, “A pretty simple solution @AirCanada.”

The silent public sale the silver was for use for is an element of the bigger Pump Couture fashion show, an occasion that goals to cut back the stigma round diabetes, whereas raising awareness concerning the 3.8 million Canadians dwelling with persistent illness.

Shortly after Hansen’s post was revealed, the mining group started exhibiting its help.

Sorry to listen to this, Arlen…however hopefully our donations will result in an even better outcome.

— Brien Lundin (@Brien_Lundin) March 5, 2025

“Sorry to hear this, Arlen…but hopefully our donations will lead to an even greater result,” wrote Brien Lundin, editor of Gold E-newsletter and host of the New Orleans Funding Convention.

Silver producer and vendor First Majestic and its mint division First Mint have provided to exchange the misplaced silver, whereas others have donated to Diabetes Canada and offered encouragement to Hansen.

Arlen Hansen, we’re sorry to listen to this news. We’ll gladly donate the 20 ounces on your supposed donation to Diabetes Canada’s silent public sale.

A consultant from our workplace will attain out to coordinate.

— First Majestic (@FMSilverCorp) March 5, 2025

In an e mail to the Investing Information Community, Hansen expressed his gratitude for the outpouring of help.

“There has been a wonderful outreach from the mining community, not only sharing their condolences, but helping step up with financial support, taxable donations — and very fortunately, the silver was replaced by First Majestic Silver and then further matched by First Mint LLC. I didn’t ask them, they volunteered, and that to me is an example of how the good people in the mining community have stepped up,” he mentioned.

Hansen has filed a report with the Ontario Provincial Police (OPP) relating to the misplaced silver bars.

“I have reached out to Air Canada customer service twice and have yet to hear back from them. My report was filed with the OPP yesterday, so I’m sure it is still being processed and will hear back from them shortly,” he advised INN.

​Systemic points

In the course of the ordeal, Hansen has been knowledgeable that many travellers have had related points with Air Canada.

“There were over 200 responses of support, and many were not shocked and shared stories of how they have had personal items removed from their bags after checking in their luggage with Air Canada and other airlines,” he mentioned.

“The silver was stolen from my bag, and someone should be held accountable for this, because if this is happening to me, it’s happening still and I believe the airlines should be investigating this seriously.”

This latest incident marks the third time since 2022 that Air Canada has been on the center of lacking treasured metals studies. Most notable is the April 2023 gold heist that noticed 400 kilograms of gold stolen from an Air Canada cargo terminal at Toronto Pearson Worldwide Airport. The subtle heist was carried out by a minimum of 9 people and noticed US$20 million value of stolen gold melted and transported across the world.

In mid-2024, Peel Area Police introduced the arrest of 9 people at the side of the frilly theft; nevertheless, solely six pure gold bracelets with an estimated worth of C$90,000 have been recovered.

In late 2023, Brink’s (NYSE:BCO) sued Pearson Worldwide Airport and Air Canada over the theft, alleging negligence in securing the cargo. Air Canada countered, arguing that Brink’s did not insure the cargo or disclose its true worth.

Though the C$20 million heist is taken into account the most important in Canadian historical past, it wasn’t the primary time Air Canada was accused of shedding treasured metals. Months earlier than the 2023 gold heist at Pearson Worldwide Airport, one other gold bar disappeared whereas transiting by Toronto, based on a lawsuit.

On December 22, 2022, a Swiss treasured metals refinery shipped 65 doré bars value US$15.7 million from Lima, Peru, by Toronto to Zurich, Switzerland. Nevertheless, someplace alongside the best way one gold bar disappeared.

In keeping with the court docket submitting, Brink’s paid an extra payment for the added security of the bullion, a designation that was to make sure the cargo didn’t “comingle” with different cargo. The doré bar value over US$270,000 was by no means recovered. Additionally it is not clear if that earlier incident is said to the later C$20 million heist.

Air Canada has mentioned it can “vigorously” defend itself in court docket, however questions concerning the security of treasured metals shipments utilizing the airline stay.

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Securities Disclosure: I, Georgia Williams, maintain no direct investment curiosity in any company talked about on this article.

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