The appendix of the presentation (which U don't get to see unless U download) is pretty interesting too!

a) Chart showing 2011 World silver supply at 736 million oz.

b) Chart showing 2011 World silver demand at 1050 million oz.!

Don't know where they got the numbers from...looks like they used the Silver Institute numbers, then added in "implied net investment/de-hedging"

Meanwhile, chart slides 28 shows the relative (inferred) mineral resource of Golden compared to other junior/intermediate silver producers (AUM is #1)

...contrasted with the market cap per Ag equiv. ounce in slide 29, where AUM is in the bottom 5 with one tenth to one 20th of the top valued silver producers. There is a lot of room on the upside...especially with a new 43-101 resource estimate coming in the 4th quarter which will increase our numbers even higher.

AUM is definitely the value leader here for buying cheap Ag equiv. ounces!

lotus petals,

gildage