I wonder if KN speculated on lower silver prices when FM went ahead with the lead/zinc forward sales?


I know he is a triple digit long-term silver bull but you never know. The 50 million may come in handy in a declining silver environment.  Even if silver stays at just $30.00 an oz. ,  in 12 to 24 months the cash flow will be exponentially much higher with Del Toro ramping up and Silver Mex increasing production, plus the likelihood of San Martin expanded by possibly 500,000 oz. a year. The resource base is now large enough to warrant expansion there.