Hi all,I went to Sydney presentation today, and felt much better...

Hi all,
I went to Sydney presentation today, and felt much better than before:
-they have “care and maintenance” strategy if silver falls to unprofitable levels or any other misfortune, in order to protect the silver asset.
-they prefer dilution to debt... dilution isn't great, but it beats the hell out debt-induced insolvency (been there with another stock, and it is far worse). The asset is so valuable and leveraged to silver price, it must be preserved against the threat of debt.
-the major challenges have been 2 severe floods, and the fall in silver price.
-the board acknowledge the obvious paper manipulation of gold & silver physical price by Central Banks and hedge funds. Other stocks I've owned either say "I hope you are correct" or one extreme case at ASX:TRY unbelievably deny it.
I have a summary of gold manipulation at:
http://members.optusnet.com.au/~sidr/proof_summary.doc
where there are confessions by key players involved. And silver is similar.
Patience is the key to riding this manipulation out – ultimately physical demand will swamp paper supply. And suppressing gold price, although painful, actually accelerates the process. Recent reports support this eg:
http://www.gata.org/node/12735
-if you still believe silver is heading lower to around $15/oz, then you should invest elsewhere… but the evidence strongly suggests otherwise.
-the production costs after reinstatement are like to fall to around $15/oz. The figures on slide 10, are based on current data, not future data… so $21.45 quoted will be much lower, in particular the $6.34/oz for “mining” (as per slide 9) and $9.40/oz for “processing” (when the crusher upgrade allows higher tonnage).
-Costs can also be reduced by $1.50/oz if exploration is suspended.
-Institutional investors will buy if shareholders don’t… read between the lines.
-The Institutional investors are non-Chinese, so not interested in take-over, just maximizing profit.
-Even at only $25/oz, the directors say AYN is very profitable.
-AYN focus is on silver, even though there are some base metal byproducts. Their expertise is in silver, and that is where they know they can make money, whereas other metals are speculative and not worth the risk. In fact they have even tried other metals before but at minimal gain, so silver it is.

If anyone else attended today, and would like to make any further comments, please do so.