Hi Mark: I agree with your assessment. First, barring some materially positive news, we will trend continually lower as many with diversified holdings take their loss and go to greener pastures.Many bought in with were unrealistic expectations from a timing viewpoint . Secondly, a small amount of selling pressure enables the long term accumulators (hoping that theory remains intact !) to take out bids, accelerating the price pressure. There is nothing management can do, other than try to allay fears that the ultimate "new low" will be much lower. Finally, the markets remain generally very weak, with huge amounts of money frozen in fear of what the Western governments might do next in a number of areas such as Commodity price controls, higher interest rates, and resource taxation as they try to compensate for the speculative banking mess. People who have no concern in any of these ares are naive. Again, that is a longstanding backdrop only, but it has gotten a little worse , definitely not better, in the last three months. Very good for the Windfall component ultimately, but it leaves the metals markets looking like a scapegoat for Western policy makers.

On balance, I am not a seller for sure, but expect the new low will be $2.20 to 2.40 barring a major development near term, which appears less likely with each passing day. Hate to say it, but the small guy is getting left out of this equation, and it is not management's fault.