As expected based on their guidance from Q4 numbers. It won’t get real interesting until the ramp is complete which is critical and always has been to the future of the company and real sustainable profitable operations. Of course things would have been much better right now without the temprary loss of the blasting license, this has hurt short term operations but has been known known now for a while to anyone who follows the story. I don’t expect the market to wait for this Q3 ramp completion event before taking the stock higher in anticipation, the bottom would definitely seem to be in at long last. The market has known about this Q1 number for weeks and that is why the stock is down, now for the turn back higher. This price level is ridiculous but the same can be said for many other precious metal stories.

Although confidence in AUM management has been shaken for the last year due to operational delays, the same is true about many precious metal companies with the constant presure on gold/silver prices making things much worse than they actually are. With 2 producing mills, large resources and a major ramp accessing the mines being completed, we have a good chance to grow our way out of this situation as gold/silver prices move back higher.

Other junior companies with a decent resource are absolutely dead in the water with decimated stock prices and seeming no future. One of worst performing junior companies with a good gold resource I follow is GCU and being a non producer trying to advance a decent project and go to production some day seems almost hopeless. But the truth is surely different and things will turn back as the pendulum swings back the other way. I believe this is the worst environment for juniors I have ever experienced but it will not last.