silver price under threat, page-7

Contray to popular belief the demise of MMN had more to do with unrealistic goals, poor resource management and lack of focus rather than the GFC.
The GFC was the icing rather than the cake for the demise of MMN.
I'm sorry followme but I just cant share your optimism about AYN.
Need I remind you that MMN were producing when the AG price peaked back in early 08 @ $US21.45.
They werent close to making money even at that level.
Now the price is some 20% lower and things are better?
I think not.
Their strategy was to produce value added silver powder rather than send it off for refining and sale as the metal.
What did they end up doing, sending it away for refining and sale as the metal.
That says problems with purity for me.
Not good
With the silver price at these levels management would be trotting out the same old line about how close they are to making money and at the same time probably going back to the market for another capital injection.
Realistically I think around $US30.00/oz is a price where if they produce and have no other issues and can sort out existing problems they MIGHT get into the black.
Remember those 1 share with 1 accompanying option offers.
Grant you there has been a management change but they have no runs on the board apart from picking up a business at a fraction of its real value.
They are burning cash at a fast rate and wont get to year end with returning to the market for a top up.
Management still have no concrete plans to improve recovery rates, deal with purity concerns, lower costs and get this off the ground.
Perhaps I am tainted by previous experience with MMN but when all I see is the same pattern repeating well what is one supposed to do?
Others are suggesting AYN to fall back to the mid 2's well thats optimistic IMO.
I expect this to return to its issue price of $0.01 at some point and consequently more capital raisings more promises more delays and ..............
I like silver the metal at the right price but I dont like AYN or its prospects.
If we get 6 mnths down the track and I'm wrong I'll be happy to eat my words but somehow thats a meal I doubt I will ever sit down to with this stock.
If people want Ag exposure buy the metal, stick it under the bed and forget about it or if you must buy a stock with Ag exposure look at CXC at least it produces and makes money.