Now that we are discussing the resource estimates, I'd like to comment on the issue of the byproducts lead and zinc at Velardena. In recent presentations we have seen that AUMN management is not including these byproducts anymore in the projections, since it prefers to focus on silver and gold only.

In the past these byproducts represented roughly one third of the total resources, calculated on the basis of AG equivalent ounces. I am not sure if ECU silver has been selling these byproducts in the past, but in any case by not including these (accumulating) inventories of zinc and lead in the projections for future production, any revenue projections by analysts will be underestimating true revenue and profits considerably if these byproducts are not made explicit.

I wonder if in their recent prediction of the break-even point, which they hope to reach by mid-year, they have included these by-products either on the revenue side or on the cost side.