It is basically the same, higher gold and silver grades. (Zinc and lead not compunded):
The CAM resource estimate gives a range of 11 million tonnes on the low range and 27,5 million tonnes on the top range.
Before it was 18 million tonnes, but at lower grades.
So over all it was a good report, somewhere between 160 million ounces and 450 million silver ounces is expected to be in the ground, still. More drilling is required to be more precise. San Diego is not included in the report.
Still even at the low range, AUMN is VERY undervalued.
They question is, what's the next catalyst? The El Quevar and Velardena resource estimates where highly anticipated as potential catalyst to propel the stock higher. Now both are out and were worse then most expected.
Exactly. It may take a day or two for the market to understand the implications of these high average grades for the future profitability of Golden Minerals production at Velardena. I expect the share price to go back up significantly on the basis of this report.