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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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Here is a link to our NI43-101 report. http://www.ecu.ca/images/pdf/MiconTechnicalReportECUResourceEstimateV2.pdf. On page 4 they give the metal prices used to compute the silver equivalent. They used $775 gold and $14 silver which is a gold to silver ratio of 55.35. The current gold silver ratio is exactly 44.00. This means our silver equiv at today's prices is lower than when the report was issued. A million ounces of gold now is equal to 44 million ounces of silver whereas it used to be equal to 55.35 million ounces.

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