AUMN Accidentally posted before I could finish.
I spoke with the company when they closed the mine. They told me they inherited a lazy unionized work force when they bought the Velardena mine and mill. The closure allowed them to hire a new productive workforce and to rehab the entire operation for profitability. They slashed 2/3s of their labor costs and rehabbed the mine, allowing them a good chance to achieve their guiding for Ag cash costs to the $12 -$15 area from the $30 mark they were at.
If they can pull these costs off, shares are a steal even at the newly re-rated share price. When they closed, they had nearly 30 million cash and at one point the shares were trading at less than costs. They have a huge upside at the Velardena mine, plus the El Quevar advanced exploration property in Argentina, and the exploration properties in Argentina and Mexico.
Spoke with Our pal Chen Lin at PDAC a couple years back and as a share holder he very much liked the company value, share structure and mgt before the closure.
