Just to be as precise as possible, as of June 30, 2013 the company has 43,417,833 shares issued & outsanding with the market cap as of today approximately $47 million. This equates to about 64% of the market cap in cash, a very crazy situation for a company with hundreds of millions of ounces of silver eq., 2 mills, no debt, major new ramp, a 20% holder, a 6% holder, numerous other institutional holders, over 40 good potential exploration properties still in inventory, 2 significant good quality resource properties with significant resource upside left(Velardena & El Quevar), 4 million shares short which need to be covered, good power source, good road access, trained work force, and sadly mediocre management.

A very rare and undervalued opportunity in view that is why I buy more, although for sure some disagree.