Deep,

If my previous posts - which you deleted - were "bashing", then your post surely is.

Rather than delete your post, however, I wish to refute your claims:

The decline is no eye-opener at all. PM based stocks fluctuate up and down, sometimes by much larger percentages than other types of stocks. They generally follow the PM price, but with leverage.

Look at the price of silver over the last 2 years... compare to the pps of SSO. Notice any correlation?

The only talk of "options hedging" has been coming from you and others outside of the company. This company has demonstrated again and again that they are aware that the majority of their stockholders wish to be unhedged. In fact, I believe that SSO has called themselves (more than once) "a non-expiring option on silver".

They don't need a lot of cheap financing for mine development. They really don't even *need* any. They are opting to get a loan because it is a more reasonable course of action. With their assets and their current (non-existent) debt to asset ratio, it should be a slam dunk.

I have never been an investment banker, but I do understand the principle of lending against assets. The lower the risk, the better the terms one is able to obtain.

If SSO wants a sustained decline in the stock price, all they have to do is alienate the majority of their stockholders by hedging. Somehow I think that they understand this.

When they purchased the bullion that they now hold, it was as an act of affirmation that they understood their shareholders preferences.