Ann: June 2012 Financial Statements , page-8

I'm not sure who your particular beef is with. Production estimates can vary depending on a number of factors. DJ Carmichael have put out a paper that seems credible to me, minus the pazazz.

If the most recent update from Carmichael happened to be June, than June is all I have to go on. Until and unless more brokers cover AYN, I can only make do with what is available.

If you were really concerned about AYN's prospects, you would go directly to the source. I attempted to answer your question but apparently you seem to know more than I do.

As you put it, AYN's August 28 announcement of 1.2 to 1.5 million ounces, unless I'm mistaken, is still within DJ Carmichael's (of a mere three months ago) 1.5 million forecast.

Perhaps DJ Carmichael should update their information, more regularly, more urgently, and whenever production estimates vary by a factor of X, as a way to acquiesce non-shareholders. And perhaps the Board of Alcyone should do the same, if they were dealing in science.

Even at this particular stage of Alcyone's evolution (significantly advanced as it is and way better than having no production whatsoever), the market perceives it as being a speculative stock. As it does so, another perception is taking place: that the company is gradually but assuredly derisking itself.

When one inserts the rather large potential for the POS into the equation, its ballistic nature and undeniable reasons for believing so, a supercharged confluence emerges.

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23 million ounces of contained silver

Subject to further discoveries, a minimum 10 year mine life

Production rates (which are far from scientific) that even non-shareholders can ultimately be happy with

A dedicated board of directors (having turned a business from zero to 180 degress in quicktime)

A company which is poised to turn over millions of dollars.

A company which can and will benefit from a globally corrupt and broken financial system (now existing solely on life-support), in which silver trades at prices which back in the day, could have only been dreamt about.

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In the larger scheme of things, in the context of where we are now, the way I see this is that a few hundred thousand ounces of silver, up or down, will have as much impact as dipping your finger in a glass of water and pulling it out again.