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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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I have never doubted for one second the quality of the ECU resources, to see it is to really believe it. Before the very first updated 43-101 was published I saw what they had and what the potential was and when each subsequent 43-101 came out it was always already outdated.

It may have taken a little longer to make the last 43-101 outdated due to the monetary collapse we all witnessed/experienced and temporary slow down in mine development but now more than ever the resources are being monetized and the resource verified in our 2 mills at an ever increasing rate.

ECU management has long argued privately and now more frequently publically (data referred to in numerous press releases over time) that our defined resource is actually much larger than presented in the 43-101 and they have done this with real live data which can't be refuted or disregarded (production data and face sampling from cross-cuts in new drifts). The truth is that a significant portion of the Potential resource that ECU has defined in the existing 43-101 is actually very close to, or actually is, at the confidence level of inferred resource that many other companies utilize in Mexico.

The same argumnent holds true for lots of the ECU inferred resource being actually at the M&I level. The market will get it sooner or later even if it has been a frustrating 2 years. I'm hopefull that the coming scoping study will help pull some of this stuff together and increase awareness of the ECU base economic case. I don't however expect a baseline economic study to solve all the market awareness or acceptance issues but do expect this will provide a solid beginning of the end phase of complete market acceptance. Much work is left to do in all areas of the ECU business but it should be an exciting coming couple of years with constant news coming our way.

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