As I have stated many times, San Diego is a good project but a lower priority for both ECU and AUM management. The base metal content is higher than ideal with a lower grade silver profile and a complex system that is deeper than ideal. The economics of San Diego are not very robust at $30 silver, of course $50-60 dollar silver or higher would change this for sure.

AUM management is simply confirming there expert view by doing this deal and letting GOG try to build the size and quality of the resource while waiting for silver to go higher. It's a good strategy for Golden Minerals as they have mid-size company maker projects in Velardena/Chicago and El Quevar plus numerous other higher priority exploration projects.

It given the time I expect Golden Minerals to be producing from 4 key producing properties in 6-7 years plus another 2-3 high priority exploration projects. The risk is being taken out which at some point will become quite a bit higher.