alcyone today and beyond, page-5

We've got 1.3bn shares on issue. Silver production will be profitable at current prices. Every $ increase in the POS is another $1.5m on the bottom line, or 0.1cps in earnings. Initial profitability at todays prices is about 2cps in earnings - so if AYN's sp is still 7c when production starts it'll have a P/E of 3.5. If silver is $44 it'll be 2.3. Without any other stuff.

So yes, I think it is silver driven, with a very low P/E at these price levels.