The claim that Valardena's silver quantity was substantially reduced after the merger is incorrect. It has been pointed out many times that the engineering firm, Golden, Co.-based CAM & Associates used a more conservative methodology than the former, highly prestigious firm, MICON, Intl. used when calculating the resource quantity in the NI-43-101 report for ECU before the merger. MICON appropriately accepted greater lengths when ascertaining the continuation of a silver vein, while CAM utilized much shorter lengths. Neither report is incorrect, they just used different methodologies. The problem is that using different methodologies produced different resource estimates.
At a later conference, Gregg Roberts spoke with AUMN's Chief Geologist, Warren Rehn, who admitted privately that AUMN should not have used such a conservative firm like CAM which conflicted with the previous MICON report.
Silverbull50
