I imagine it's just a matter of time before one or both are snapped up by a major Silver producer (seeking to replace ounces) before the competition wakes up and sparks a bidding war for scarce resources at multiples of the current SP. Food for thought.

Food for thought indeed. I wonder what buyout offer the long time shareholders would take. A 50 % premium to today's closing price ($1.08) is $1.62. A 100% premium is $2.16. I suspect that those who bought at $2.50 and above many years ago, expecting a good return on their investment, would be happy with this.

Using the present NI 43-101 data (which we now know is low, but not by how much) of approx 385 million oz Ag equiv and in in ground valuation of 10% of metal price, and 308 million shares, we get a valuation of about $4.13. So a 50% premium to this figure is $6.20 and a 100% premium is about $8.25.

So what are the current price suppressors hoping for? A significant upgrade in resource estimate without a share price increase, and then broker a take-out bid that they hope will be accepted. I hope our Board of Directors do not go for this scenario, should it come about.

I wouldn't mind a bidding war, though, at realistic price offerings (ie over $10 to start). Oh, there is that $10 price again.