I have looked at it briefly.

No big surprises (good or bad)

Some small surprises (small is a relative term here)

Some US currency hedging losses, some options compensation losses (which are usually proportional to the amount the stock goes up, and so the better the stock performs, the bigger these losses are), and some currency exchange losses.

The ABCP losses were previously reported, so were not a surprise. If anything, the surprise was that they were not bigger.

All in all, though, they are on plan and on schedule and still have huge silver assets which will start to be mined in about one year.

While this was not a big "rah-rah" report, it should not cause any panic either. With the price of silver starting to float up again, the value of their assets (in the ground, and kept as bullion) are still rising, so the company NAV is rising, so the stock should keep rising.

All in my opinion, of course. I am not a qualified financial analyst, I only invest in these stocks. :-)