Hi Zak:

Were you responding to my post or the most recent one from Argoz who points out that you can buy silver in the ground for 22 cents an ounce by buying AUM shares? I don't recall any wording in my post that could be interpreted as calling AUM shares "a screaming buy." On the other hand, silver at 22 cents does sound that way, wouldn't you say?

I personally am thinking about buying more AUM at the present price but it certainly takes a lot of nerve to do so. I recall buying Teck a few years ago at about $6 per share when the company's prospects appeared to be very negative indeed. The present AUM situation looks like a similar opportunity with a similar need for steady nerves. The big difference, I suspect, is that Teck couldn't be manipulated by the high frequency boys and other agencies the way they can play these small company shares today. The arithmetic says that AUM is worth a lot more than the present share price but all of the other factors don't lend themselves to similar calculations.

Interesting times indeed.