Another way of looking at it and is much simpler.
How much silver per share? (2008Jan24)
# of shares outstanding = 242,609,558
Velardena = 216 million ounces
GOG (50% contribution) = 20 million ounces
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Total = 236 million
Per share = 0.975 ounce

This does not look at resource extensions that are open in more than one direction, other veins and finally other properties. That is why many see a billion plus ounce company.
So you are potentially looking at up to five ounces per today's share.
How valuable is that in comparison to today's share price?

It should give an idea why some of us long holders are so 'Nuts'. Also why we are so intolerant of some of the negativism that is spread about like manure on a field.