Oh, and here are a few answers, rather than questions.Some here...

Oh, and here are a few answers, rather than questions.

Some here seem to be labouring under the misapprehension that CDE is being valued purely on it's existing operations, with no allowance for either Kensington or Bolivia - nothing could be further from the truth.

In fact, out of total silver resources (proved and probable) of 216m oz and gold of 1.5m oz, Kensington and Bolivia contribute 151m oz silver and 1.2m oz gold between them.

Additionally, at the end of Dec 06, CDE had $383m cash, but planned to spend $235m this year on Kensington and Bolivia (the $77m planned spend on Kensington will obviously now be less).

This is what CDE's long-term liabilities look like for the past 3 Dec 31st's: 2004 - $199m; 2005 - $207m; 2006 - $210m. In other words, during a period of record revenue and production, they have actually increased their debt and plan to spend over half their available cash in one year.

BSG has no debt and sufficient cash to fund itself through to production (or very close).

So, everyone - I'd love to be proven wrong, because I'd love to love the CDE deal...but I just can't.

Someone, show me why I should like it, but don't give me, "Norm's a genius who has inside information on CDE discovering an entire continent made of silver." Give me some hardcore, solid analysis. Give me a reason to vote for the takeover.