Hi gwr, I have been increasing my position over the past few weeks, partially due to the same expectations that you have emphatically stated.

Although I will be pleased to see an increase of the resource at Valerdena, especially in the M&I category, I will be most impressed if/when the company can continue to meet and hopefully exceed their forecast targets. This was something that the previous management had difficulty with, mainly due to the lack of available resources.

In early January, the company released news they had exceeded gold and silver production for Q4 by 30% and 114%, respectively. Subsequently, the share price almost doubled in value over the next few weeks.

The actual production values for Q4 were equal to the forecast values for Q1 of 2012, so we should easily exceed those forecast numbers for this current quarter, the question is by how much?

If the company can continue to exceed their targets, the rest should take care of itself. They have forecasted the following short term targets:

1. Updated NI 43-101 resource updates for Valerdenda and El Quevar by end of Q1
2. Production forecast for Q1 is 1,300 oz Au and 90,000 oz Ag and excluding base minerals
3. Valerdena to be operationally cash flow positive by mid-year 2012

The end of Q1 is only two weeks away!