dan macinnis gave an interview near the end of the fifth hour at financialsense:

http://www.financialsense.com/fsn/ma...

he discussed the company's operations, and emphasized that the weak silver market would have no effect on moving juanicipio forward due to the exceptionally high grade. he noted that although some silver miners are struggling with $10 silver, fresnillio was making money in that district when silver was at $4.

even with silver at $10, an average grade of 35 ounces/ton would yield $350, so they would have no trouble going underground with costs of $50/ton. he said their cash position is about $60 million, with a burn rate of $1.5 million/month so they have enough cash for at least 2-3 years, and they have a partner to do the heavy lifting of building the mine and a mill in the area. fresnillo is building a shaft and ramp, so the project is on the fast track. a new (and higher) resource estimate will be out early next year.

he mentioned the cinco de mayo discovery, but acknowledged that they have to develop the project further for the market to recognize it because curently all of the market value is due to juanicipio.

he mentioned that fresnillo owned 19.8% of mag, and it seemed he took that as a vote of confidence, and not as a threat of takeover. when dealing in mexico, he said it is advantageous to have a large partner like fresnillo.

finally, when asked what three things set mag apart from other companies, he said, "grade, grade, and grade."

http://www.financialsense.com/fsn/ma...