Projects In recent years, the mining sector has seen a significant improvement in margins as higher prices and strong production have propelled cash flow to record levels. However, many producers are making the mistake of trying to lure investors with share buybacks and dividend increases. I would argue that this is not a sustainable trend for the sector. I don't know any investor who buys a gold or silver stock for the dividend. The only people who buy gold stocks are those who think that the price of gold or silver is going to rise. Instead of buying back shares, mining companies should use their growing stock to look for acquisition targets. In today's environment, the only way for a company to grow is through aggressive mergers and acquisitions. I think all the easy gold has been discovered and it would be increasingly difficult and expensive to find large deposits of precious metals. I don't think we will ever see projects valued at $1,200 gold again. If that's the criteria you're looking for, then you'll see your reserves dwindle to nothing. Mining companies need to be aggressive in replenishing their reserves and that is what will attract investors. Investors want to see companies grow and I hope that SCZ will take that same direction for its future projects.