And this is the best way to leverage your money to the explosion about to happen in silver
From the latest Quartley
HIGHLIGHTS
?h First silver bullion poured from the Texas Silver Project in SE Queensland following re-irrigation of the existing silver rich heaps at the Twin Hills mine
?h Successful operation of the pilot-scale Merrill Crowe circuit confirms the viability of the process design circuit for the Texas Project
?h Twin Hills construction programme on schedule with commissioning for full-scale commercial extraction to commence in Q3 2011
?h Early production enables Alcyone to benefit from the continued strength of the silver price, which remained above A$30/oz during the Quarter.
?h Re-optimised Twin Hills mine plan delivers an increase in Ore Reserves of 1.42Moz (+30%) to 5.64Moz of recoverable silver (4Mt @ 64g/t Ag)
?h Mine life increased to approximately 5 years (including current stockpiles)
?h New Mt Gunyan JORC Measured Mineral Resource estimate of 2.3Mt @ 69g/t Ag and 0.08g/t Au, containing 5.2Moz of silver and 6,200oz of gold
?h RC drilling contractor engaged for 5,000m programme commencing in mid-August including grade control in the Twin Hills pit and further testing at Silver Spur and Hawker
?h Experienced geologist and corporate finance executive Mr Andrew Richards appointed as a Non-Executive Director following the retirement from the Board of Mr Eric de Mori
The first silver bullion bars ready for refining
And this is the best bit...Is our number one corner stone shareholder.
Top 10 Shareholders: JP Morgan 24.79% Deck Chair Holdings 3.04% Lyandji Super Fund 2.71% HSBC Custody Nominees (Aus) Ltd 2.34% Seaspin Pty Ltd 2.23% Golden Matrix Holdings Pty Ltd 1.60% Mahsor Holdings Pty Ltd 1.52% ABN Amro Clearing Sydney Nominees 1.32% Citicorp Nominees Pty Limited 1.08% Mr Richard Milne Harris 1.06%
When you have JP Morgan sitting in your corner you can feel very confident where to park your money
AYN Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
