RE: Time for a little refresher....... Excellent information and analysis, dbeaude! A dividend is what will unlock the value of the company in the long run as it's a message to investors that management has strong faith in the ability of the company to generate long term strong cash flow. I foresee IAE swallowing up more juniors in 2014-15 (if the current valuations for juniors hold, that's the easy way to increase reserves and production).