LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB

Math Cap

[Golfcar72]

Math cap time:

Hochschild said in their report they expect 2.7 million equivalent silver ounces from LSG in 2010.

In 2009, their conversion factor for gold oz. converted to silver oz. was 61.22 (9,600,000 variance of silver oz. to total oz. of gold and silver/156,800 oz. of gold attributed to the variance).

If you divide the expected silver oz. in 2010 by this factor of 61.22, you get an anticipated production of 44,100 oz.

Now adjust this by HOC stake in LSG, which is roughly 40%.  44,100/.4 = 110,250 oz.

So what did HOC just tell us?  They expect 2010 production from LSG to be 110,250 oz (roughly). 

What's the rub here?  Did they f* up their own financial statements or is LSG planning for a market-beating suprise come year end?