If you use the high quality resource reports done by world class firm Micon for Velardena and add in El Quevar then Golden Minerals have approximately 500 million silver equivalent ounces backing the market cao and stock price. This doesn't include numerous other properties where their has been success drilling to date for which no resource report exists nor does it count the upside resource numbers from some already completed work on Velardena in new areas and drilling at El Quevar since the last resource report.

I expect large resource increases at both El Quevar and Velardena once some sort of normalcy once again pervades this whole precious metals sector which it will. I also expect that ounces in the ground will once again become highly valuable as history tells us repeatedly even if most can't see it today or have been blinded by aggressive and what may even be termed evil manipulative actions by a few against the many. I for one intend to be around and well vested for this outcome in numerous precious metal companies and with physical gold/silver and I hope others can bring themselves to profit from the coming events as well.

Although things haven't gone as expected over the last few years this does not mean they won't in the future, even mean reversion states this quite clearly and I am banking on much more than mean reversion and so should you.