Do It Right the First Time! The Annual 73 page Annual Information Form recently published by Silvermex is a pretty detailed exposition of the work being done by the Company, and the work still being done!
It displayed, at least to me, a very detailed view of the operatons, especially at La Guitarra. There was no fluff, no attempt to use hype; just a straightforward description of the facilities, the processes being used and overhauled, the personnel and their importance to the overall scheme of things, the threats and the opportuntiies the Company faces as it works diligently to fix things from the bottom up.
It is the sort of report a Chairman of the Board would commission to ensure that he is given all the facts: the good and the bad. He would want as clear a picture as possible of where his various departments stood in relation to the goals set to rebuild the Company from the bottom up.
I was reminded of my several visits to the Quality College in Orlando, Fla back in the '80's. (One of my functions was to act as "trainer" at the company I worked for at the time.) The main theme, indeed created there, was:
"Do It Right The First Time"
It was what James Anderson was trying to do with the old Genco, and it is the way in which the ex Hecla executives set out when they formed Silvermex. Have you heard any criticism by Mr Anderson to the effect that Silvermex's management is not doing what he would want to do? I haven't.
I think what we are witnessing is a team of strong-minded, expertly trained, dedicated executives united in their determination to create, not just a small profit in a small junor, but dedicated to the creation of a first-class mid-tier (practically) pure silver producer in a period when silver itself promises to be the most important non-food element of the decade.
I think of the times in life when those around me prod and say, "That's good enough, let's get on with it!" In small things that often works, we just have to press on, regardless as they say.
But mining, especially in a foreign country, is not a "quick fix" business where bandaids and headache tablets are sufficient. This is not a job for amateurs! This is a job for experts - and we have them!
We have the silver resources, probably far more than has been identified as yet!
We have first-class management that knows where it is headed and how to get there!
We have a favourable mining environment, politically speaking!
We have the needed governmental authorizations to proceed!
We have the means to generate cash flow by the end of the year, and thus the prospect of financing from within!
We have Sprott on our side!!
Given all that, in a world that is falling apart at the seams, I think an investment at this time in Silvermex must be at least as good as the equivalent amount in silver bullion.
It's possible to play with around with some of the Silvermex shares, if you're so inclined and think you can beat the market. But I woudn't screw around with your core holdings.
I don't plan to budge an inch. This seems to me to be the best opportunity I've ever had and I don't want to miss the train when it leaves the station.
sunwood
ps Take a look at that Annual Information Form on
www.sedar.com