Re: Conference Call
in response to
by
posted on
Jan 30, 2008 11:59AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
On the contrary Edgy, I don't think the company has not had time to discuss and debate the resource report thoroughly. Give management in consultation with Micon a couple of weeks and they will present a detailed plan to their BOD for approval and only then can they go forward and implement the plan after board approval. The process takes a little time and this is prudent in my view.
The company already has a very good idea where they can add inferred resources fairly easily and will pursue this quickly in my view but the greater plan requires significant drill planning and mobilization of resources to meet the exploration objective. Given that the road map is laid out for 1 billion ounces the decisions will focus on where first and what order therafter. I'm hoping they turn around an additional resource report before the AGM meeting adding 100 million ounces to inferred, I think this should be doable and this will send a strong message to the market that potential is being realized as in all past situations with ECU.
A report adding more ounces in such a short period of time would be almost unheard of from a junior or mid tier or major resource company and this would once again demonstrate managements concern for their investors and awareness of enhancing shareholder value. It too bad that some decide to sell just when they should buy, it never ceases to amaze me. There is maybe only one or two other companies working toward building this kind of resource size on the planet and none with a more clear understanding of where and how to do it. The final planning is all that is required and this will be revealed soon enough.
The share price will take care of itself as funds/institutions realize what is actually happening here. Just give management some time to hit the road and pitch the story hard. I still maintain there isn't a fund or institutions that invests in precious metals that can now ignore ECU building one billion ounces of silver eq. even in what has been a poor junior market. In my view both the perception of ECU and junior stories will turn highly positve in the coming weeks and this will make the best stories, of which ECU is one, the best movers. I have tons of patience for this story and my sector view and will simply let it happen.