Karen,

 

Once again you "spin" the facts to put your best foot forward.  Your claim may be appropriate for a new, small retail prospect for AUMN, but it won't work for investors like Murphy, Roberts, myself, and many others who have seen a 95% decline since you bought ECU in 2011.  In fact, your "alibi" projects a cavalier attitude that your mgmt. doesn't take any responsibility for the poor performance and more importantly, indicates that you don't recognize any internal control to enhance shareholder value going forward.

 

What I, other large, long term shareholders and large potential prospects want to see is evidence that mgmt. is finally focused on the share price.  Your communication with shareholders is bottom-line minimal, you spend valuable capital drilling in projects that won't generate any revenue for years and that wasteful expense reduces the earnings of your first potentially positive earnings quarter in years (Q2 '21).

 

You still only have only 1 analyst following the stock at HCW, your biased investment banker, and he hasn't said a word in 5 months despite your presentation at his conference in April.

 

My assumption is that you personally spend every day assembling figures for your quarterly reports, while you should be pounding the pavement of Wall Street and Bay Street attempting to gain analytical support and visibility.  Afterall, your title is Investor Relations!  When I mentioned the third party analyst commentary several weeks ago, you barely acted like you cared.  You even said, "I haven't talked with him, I don't know whether he spoke with anyone else in this office?"  Well, why don't you find out???  Perhaps this exemplifies why you don't have coverage other than HCW, your IB!

 

 When I inquired months ago about marketing to the Reddit crowd which was instrumental in driving the stock to $1.30 in early Feb. often trading 6MM shares a day, you said, "we don't market to specific shareholders."  Why not, many other companies did?  Here was a golden opportunity to expose your company to a large, potentially powerful group of investors.  Once again, you didn't care, which blew my mind!  It would not have cost much (if any) capital to expose yourself while other junior miners are spending much more capital advertising on CNBC.

 

Yes, I'm fully aware that the mining sector has been annihilated lately.  But, what AUMN has going for itself and should separate it from most other miners is that you are in the midst of a turnaround story.  As Rehn claims, "from an explorer to a producer."  Yet, you haven't been able to gain any appreciation for that major transition.  How can you not market that fact, successfully?

 

I know you will continue to make excuses and ignore most of my comments as you have always done.  But, if you want the share price to climb, not just depending on a surge in gold/silver, you need to soul search your efforts and operations and make changes to your marketing and enhance bottom line earnings.

Silverbull50