(1) Thank you for listening to me and covering the insane and counterproductive hedges, announced today. It shows you can man up, especially when the BOD is furious and ready to fire you. I have rewarded your decision to "BUY" silver at a multi-year low price in silver, instead of selling the farm, by personally purchasing some calls on PAAS this morning.
(2) If you had any brains, you would continue ACCUMULATING silver assets at a multi-year low in prices. My new suggestion to you is this - IMMEDIATELY start accumulating 20% of Hecla Mining (HL) in the open market today and the rest of the week. This will cost a small $200US million amount off your balance sheet, and you can start a tender offer next week at a lowball $4.00 number for the rest of the company. Amazing synergies and cost cutting could be achieved by dumping the high paid idiots running HL. PAAS would immediately become the 'preeminent' silver focused producer in the Americas, with low cost, long lived mines. Please pay for the other 80% of HL in a stock only fashion. You can recoup the $200 million in extra earnings and cash flow over less than 2 years, by my numbers, given a small rise in silver the next 24 months. Of course a sizable rise in silver would bring a quicker payback. Buying silver resources at this low price should be your new focus, not selling them!
Hopefully CEO is doing "something" constructive with cash earning ZERO for shareholders at this precious metals low price- share buybacks or acquiring shares in other small miners seems appropriate vs. a year ago.