AUMN has now 38M shares (post ECU merger) x $7.50 = $285M
This is still a TINY share structure.
There are almost no miners with resource base this large that don't have 100+MM shares out there.
AUMN is on track for run rate of about 1.65M oz production at Velardenas in Q4 2012.
CEO says it will become cash flow positive end of Q2.
The PEA for Velardenas 2000 tpd expansion is due Q2 as well.
They conservatively are looking at about 4M oz silver, 80k oz gold, and significant zinc/lead annual output, and this will be a long life mine.
Also, look for update 43-101 updates on Velardenas, El Quevar, and Zacatecas THIS QUARTER.
AUMN already has huge resources, so things are only gonna get better.
Moving ozs from inferred to M&I is going to raise the valuation in a big way. All the other companies whose ozs are valued this cheaply are exploration companies far away from production, but AUMN is now PRODUCER.
This stock has been under relentless short attack this summer, but its OVER. I suspect the Wall Street guys are manuevering AUMN down so a "favored" big miner can swoop in for cheap takeover IMO.
Also, El Quevar is shaping up to be a world-class silver deposit and has room to get very very big. It's pure silver and above average grade.
They have a LOT of cash now, almost 1/3rd the share price is cash, and this is like picking up money off the floor. This is a great multiyear play on silver. BTW I am long.
