I remember it only so well analogueman. So many things have changed since like gold/silver price smashes for close to 2 years now, a complete and large industry wide valuation re-rating lower with companies like Barrick at about 20-25% of previous value, AUM management had significant delays in ramping up production, sentiment for the precious metal sector has never been worse than now and it took a long time to get here, cost escalations in the industry doubled cost of production for many companies, almost nothing now priced in for reserves/resources in the ground, paying for earning only which is a very rare occurence historically, etc. etc.

What hasn't changed for AUM is the two owned mills with miles of development/new ramp and the resource itself at Velardena or El Quevar along with about 40 other high potential exploration properties. Both are very good projects with lots of upside potential for further resource expansion and this will be really good for us when the market starts paying again for resources in the ground, which it will. The question is what will make the market get back to normal historical valuation metrics or swing past normal in paying for resources in the ground, as it surely will and has always done. The emergence of these conditions is why we all invest or have in the past invested in junior emerging producers and plain jane junior explorers as well as any mid-sized or major producer.