This was part of the MD&A on Sedar dated Dec 11/08.

On December 9, 2008 Mr. G. Ross MacFarlane, Executive Vice President of Operations and Chief Operating Officer, left the Company. His successor has not yet been named.

The Company believes that cash flow from its operations will not be sufficient to meet its objectives. As a result, the Company is taking a number of steps to prudently reduce costs and conserve cash. These measures include a suspension of exploration drilling until early calendar 2009, a reduction in planned general and administrative expenditures and temporary halt to construction of the Platosa mill. The Company is also actively pursuing external financing alternatives.

They got the grades, got the permits, and were on budget with the mill. How much cash do they need and what silver price (>$13 ?) do they need to get this project moving again? Good to read they still plan on $8.4M in exploration activity

I also own some of Mag Silver.

Any thoughts?

cheers