leading australian silver producer., page-31

opm, Morgan buying is certainly a sign that he believes in the company. His buying 18 - 24 months ago was a factor that got me interested last time.

But I get the impression from the annual report that he is a wealthy man. So as you say, to him, putting $2m into a speccy might be the same as $20k, or $2k, for us. Money he can afford to lose.

Last time he put $1m in the sp was 3.5 - so he is still ahead on that lot. Actually, I didn't realise he had sold. In which case, he could still be ahead even after putting up another $500k! At that time, all the potential production problems were anticipated to have been overcome, using the quad rollers (as proven by leach tests) and the M-C extraction plant. They had a lower production target than Macmin did. Everything seemed good, so I bought in too.

This time round, the news is not so bright at the moment. Production targets have been reduced without any clear indication as to why. Silver itself is still falling, and although some of the production is hedged, it'll still affect the sentiment. I'll stay out at the moment, until the CR is finished (cash in the bank) and there is more clarity on production issues. I will sleep better buying back in at 6c or 7c knowing AYN is a goer, than buying at 4.5c with the uncertainty.

Mind you, the Doc saying "SELL!!" is probably a great contrary indicator!

If it gets back to 3c, at which point the options will be almost free anyway, I might be tempted even if the production bits aren't clear.