Harryd, You got it! As I said before, not having the debt financing (no more equity dilution!) in place to build the proposed 1500 tpd mill is "The Elephant In The Room" that the shorts are using with impiety. The minute we announce Debt (not equity) financing is in place for the proposed 1500 tpd mill, the stock goes to a buck, and the shorts get that "Religious Experience" JS has so often referred to. It doesn't matter if silver goes to $25 for us, until we have enough mill tonage in place to process ore in a quantity that will give us economy of scale, we won't be able to pay principal and interest on the current debt and have cash flow left over to do enough drilling to increase the resource. That's the Elephant's Conundrum.

Good Health to You

munisign