When reviewing the April investor fact sheet that contains numbers good to April 2, 2012, I came across a discrepancy which I haven't been able to resolve. The El Quevar resource estimate came in at 32 M oz indicated, which I thought was a good result and should add to the Velardena update coming soon. We have been told that the inferred values for Velardena will be adjusted downward which should not create a significant issue. Inferred values can be discounted downward anywhere from 50 % to as much as 20 % in some of the valuations I've seen when calculating share value. However the total company resources on the fact sheet show 48 M Ag oz in the M&I category, or 48.3 M oz if you add the gold. These totals represent the information from the last Velardena resource estimate in 2009, the April El Quevar numbers and the 50% net values from the San Diego project. If you subtract the 32 M from El Q, that leaves only 16 M for the rest. The values presented in the 2009 report on table 1.2 quote 36.5 M oz gold+ silver for the M&I classification. Can anyone on this board explain this discrepancy? I still hold shares that are very underwater but expected the resource reports to clearly establish the potential of this company.