Ann: December 2015 Quarterly Activities Report, page-13

Most of what I've said is fact. SP destroyed. Cash reductions every quarter regardless of what it was spent on. Cash down again this quarter. Maybe you guys are right and no CR required short term but look how many they've done over the years, they sure don't mind a raise here and there. I agree it's one of the better small cap copper miners but still don't think it's the right time for me to re-enter until copper prices recover. Down ramping not my style, merely taking an alternative view to the rest of you and facilitating some healthy debate.