this does not smell right, page-26

Look fine, and apologies if you took offense. I could/should have worded my comments more quizzically.

So now we (I) know you are suggesting that (notionally) you believe the silver value will pay - I am not sure exactly what? All of the operating costs, tax, also overcome the time value of money impact, further dilution etc etc? My interpretation though was the silver would free carry the gold operating costs, so dilution for overheads, tax, and time value of money would still all need to be discounted. Ditto risk. But I would have to check, now you have reminded me.

Thanks for the clarification.