Penoles, Barrick and other large mining conglomerates have similar interests. Barrick with its hedges ‘Project Gold Sales Contracts’ has 9.5 million ounces coming due between 2011 and 2019. Their aim is to replace their rapidly dwindling reserves through shorting Junior Mining Stocks through all possible floors to buy in on the cheap. ECU having one of the largest known silver reserves is and has been an obvious target. Penoles after the split will focus on its Met-Mex refinery and smelter, one of the largest metallurgical complexes in the world. It is close by to ECU and would be an interesting combination.