Yes roughly. I agree it is not a raging buy if you expect silver to stay around this level right now. I would only buy it if you think silver will be going up this year. They likely will be expanding their resources due to all the drilling they have been doing but how much value that adds is questionable until the results come in.
For instance if silver is $50 USD average this year they will make around their current market cap in profit. So in this case you see it is a raging buy.
The other thing to consider is the stockpile is only a bit over 500000 tonnes, which means they will be able to get through it all by around November most likely. Once that is processed they will likely move back to Mt Boppy gold if silver price hasn't improved.
MKR Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
