the sale of bullion was a surprise to me too.  the company bought it in april, 2005 at 5.85, and must have sold it last month to get 20.30 for it.  on 1.95 million oz they should have cleared $28 million on the trade, so i don't think they were using historical cost in that statement.

i am encouraged by the work on diablillos, and am glad that project is finally going forward.  they also said the new estimate on snowfield is imminent, and while it is low-grade gold, there sure is a lot of it.  even on the first pass they defined 3 million ounces, so this next estimate should be interesting.  still no mention of selling shafter, but with silver around $20 they wont let it go cheap.

today the stock and silver were down, but as long as the company does what it is supposed to do, this volatility in the markets for silver and sso is just so much noise.  oil was up to $107/bbl today (they can't manipulate oil) so silver and gold will continue to march higher.  the last commitment of traders showed the open interest contracting by 1802 contracts to 163,696, while silver was going higher.  this is the first time the silver shorts have bought back their contracts while silver was advancing, and that is very bullish for the whole sector.