It seems like converting from Inferred to m&i shouldn't be too difficult given ECU didn't have any money to drill for the longest time. And at El Quevat, the high-grade long intervals just keep coming in by the dozen.
If they really have 500 million ounces of silver, then yes the stock to be $50+ in two years. However, only about 10% of that figure is "measured and indicated" bur rather "inferred". That's why the El Quevar updated resource estimate is key. The more silver they can prove the more the share price will be rewarded.
That's why I'm so f'in annoyed at the delays in releasing the resource update. In mid November both the El Quevar and Velardena resource reports were expected by the end of the year. On 12/8 they pushed out the Velardena report until late Q1 and said the El Quevar update would come out "about year-end". It could be released any day now and if they substantially increase the the "measured and indicated" figure the stock could double in 1-2 months. I do admit to owning some Jan $7.50 calls which is making me display my impatience. :-)
I see it at $8 very quickly and in a $10-12 range in 3-5 months. $High teens/$20s later in the year. I don't see the prices you're projecting happening that quickly ($14-20 in 3 months) unless $50Ag comes quicker than expected.
There is quite a short squeeze potential. I can't see them covering 2M shares without causing a massive % move from here.
Hey, where's BJCousin today? I thought we were going to the "penny pound?" Oooops, the penny pound is for miners with 500M shares and no cash, not AUMN,