San dimas This is not a sell or buy reco , but let's the numbers talk 1) SD is given for 10,5 M seq @ 10.23 aisc ( stream I N C L U D E D ) 2) this is based on the 2016 prod and commodity average price for the byproducts 3) we all know the 2017 prod and Q1 2018 will be bad because of strikes and lack of investissement . 4)the ex stream and malinvestment strangled ppp until the sale of today 5)but in 2015 only 3 years ago, SD was able to produce 190koz gold and 8.3moz silver .so with a Gsr 70 it means roughly ( 12.6 +8.3 )20.9 millions Seq , that is to say x2 the deal number with the same material . 6) SD is a centenary mine , plenty of reserves , that could be sustained with some capital ( keep in mind the terrible stream on primero that bring it doing everything wrong buying black fox, for ex ,for more than 350 m us ) 7)so if , with big i , ever ( is it really impossible ? ) within a year or 2 , ag could bring back the Sd prod to the 2015 level , ag will double to 38 millions Seq. 8) for the same price aka 320 m us$ ! 9 ) let's say aisc stay @ 10.23 .how much FRF it would give on the Sd side ? Remember aisc were 690 $ geq at that time for SD. 10) there is no company of this size able to double its prod at this speed . 11) At the conf call , Kn said they have many employees coming from SD ( family etc ) so it should not have too much problems 12 ) ok . It seems to be alice in wonderland . And nobody trust this type of potential because mining is much more difficult than the promises done. However do not tell me there is not good leverage here ( @ silver price constant ) Ps 1 )all remarks accepted -) Ps 2) ag price unstable until deal end . opinion only