Scorp75 - I'll make some comment on your 12c post in a new...

Scorp75 - I'll make some comment on your 12c post in a new thread, as the 12c one is really about buy/sell patterns.

I see the crux of the valuation arguements as:

*1). long term average price of silver. Will this be high enough for AYN to make a profit for the entire mine life?

*2). capex and production costs. Are current estimates realistic for the mine life (a lot of junior gold companies have come unstuck with these recently)?

*3). can additional reserves be proven up to increase the mine life significantly? Blue sky part of valuation.

*4.) p/e multiple. This may go up or down with market sentiment as we are seeing currently.

As I am a bull on silver, and believe the current price and market sentiment, will increase substantially over the current year and beyond, I see AYN's future sp as being well above today's.

You reckon an sp close to 20c is possible once prooduction kicks in. That does not sound unrealistic. However as the price of silver regains its upward momentum, my expectation are that AYN's sp will move substantially north of 20c.