As I do not not to mis-lead readers here, the post to which this one repsonds in which I stated, "With a 200 tpd mine and processing plant working all year, the current defined resources, at 60% net of gross, and a P/E of 15, the company stock deserves to be up to 65 cents per share" requires additional context.

This is the maximaum PPS the company deserves to be at by the end of a successful year of mining and selling gold and antimony at the mining rate stated and of course with the attainment of at least the grades in the reports. In addition, the company would have to continue to discover additional resources for out years in order to command a decent P/E such as 15 used in the analysis.

Should factors such as lower grades or not finding additional resources occur, the P/E would likely be lower, thus the SP would be lower. On the other hand, if higher grades were found and drill results found additional resources at better grades (my expectation/opinion), a P/E higher than 15 could be realized, and a higher than 65 cents SP. Many companies with positive earnings have P/E's in the neighborhood of 30 or more.

The purpose of the original posts regarding SP potential was not to claim Silverado should be up to 65 cents per share now (nor did I claim that), the purpose was to provide the type of logic a financing company would have to apply in justifying financing.

And I stand by the opinion that that logic is sound.