GWR,

First of all, a Happy Thanksgiving weekend and day to all Canadians!!

Second, on AUM, thanks for the reply. I had no problem with the Velardena portion of the talk, it was upbeat information-wise, although always a bit behind schedule, but overall, the prospects are good there, and he mentioned the normal risk factors - no problem with that.

I go back to his comments on the rest of the operation (the pre-ECU AUM stuff). And I think about the fact the stock had been as high as $30 within a couple of years, and was around $20 at the time of the merger. Now, if I'm an old ECU guy, I think, "well, we got our needed cash, and we are getting our mine developed, and eventually, it's going to be all I thought it would be." But if I'm an old AUM guy (of which I'm sure there are many), I'm thinking, "wow, besides cash, it seems everything else we had is not so good right now, at least we have this ECU property, and the flagship of our company, El Quevar, has been stopped for now, and things aren't all that good politically in Argentina."

As for the recent money-raise, it sounded to me like not only was it the best thing, but it was the only thing they could do, given how the shopping of the old AUM properties was progressing.

Clevenger also made mention of the size the Velardena mine compared to what their management's experience has been - it almost sounded like he was being condenscending toward his own mine - a small mine compared to what he'd been used to (paraphrasing). Well, Mr. Clevenger, sounds like Velardena is your big dog now, no need to apologize for it.

Again, no big issue with Velardena, but some issue with the rest of the mining assets. And, I don't have a handle about what old AUM shareholders might have been expecting from their company prior to the merger, but my guess is that it's more than the "small" mine Clevenger talked about in the presentation.