I've been a large investor in this company for 16 years, initially with ECU Silver back in 2005.  Would you care to comment on the following:

 

1.  Contributing to an $800K loss in Q2 was higher administrative expenses and stock-based compensation.  These costs have always been excessive given the performance of the stock by this mgmt. team.  The stock is down 96% since the ECU merger in 2011.

 

2.  Why spend money drilling (other than the producing mine, Rodeo) during this critical turnaround period which, without the drilling and excessive compensation expenses, would have allowed AUMN to generate their first profitable quarter in 8+ years?  Why not defer expensive long term drilling projects to later years when cash flow is much stronger?  Even Rodeo drilling could be deferred several quarters to enhance near term earnings results.  Recently, this stock has retreated well beyond the amount related to weaker gold/silver prices, primarily based on this Q2 earnings failure.

 

I've held onto this stock because I believe the assets are undervalued but this is the most mis-managed miner I've ever come across.  Hopefully, Sentient will soon demand a company sale, especially with Vogels retiring.

 

I assume AUMN is a client of yours, but I would appreciate any objective feedback you have.

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No surprise, they have not answered me because they are a paid client of AUMN.  At least I got the point accross.

 

Silverbull50