Today, the first quarter of 2011 will end and i'm waiting for the annual report.

I was already thinking about the differences between Q1 2010 and Q1 2011:

Average silver price Q1 2010: about US$ 16.89.
Average silver price Q1 2011: about US$ 31.94.

So the difference will be about US$ 15.05 for the first quarter.

When i'm right, the production was about 225'000 Silver metal equivalent for the first quarter 2010.

This would mean, that the production in the 1st quarter 2011 is now worth US$ 3'369'750 more than it was in 2010.

1st quarter 2010 showed a loss of CAD 1'852'350.00.

This time, they've got more expenses because of the drilling programm (what will it be ?).

What do you think, will the 1st quarter 2011 still be a loss or will they make some profit ?