Easy: Cos the market can’t be bullshitted as easily as company management would like to believe. Here’s the updated production evolution at EDR.to for silver and for good measure, the silver equivalent table that adds in the gold produced (at a generous 65:1 ratio).
click to enlarge either chart
Note the 3q10 columns there, with the numbers coming from this NR published by EDR.to
on Thursday morning. That announced 3q10 production of 797,054oz Ag and 1,096,509oz AgEq compares with the 2q10 numbers of 825,439oz Ag and 1,115,404oz AgEq for 2q10, but for some strange reason EDR forgot to mention the 2q10 numbers in its news release. Instead, the NR had a nice spin-fest of a headline (this was up, that was up, ain’t life beautiful
) but nobody was fooled, really. Especially the people that bothered to check back to the EDR.to 2q10 MD&A and read that….
Silver production remains slightly ahead of schedule for the year. Similar to 2009, the first two quarters of silver production in 2010 were scheduled to be relatively flat, as we focused on mine development and plant expansion capital programs. Silver production should start rising again in the Third and Fourth Quarters, 2010, as the new ore-bodies under development during the first half of the year at Guanacevi and Guanajuato to enter into production.
IKN highlights in red and then cues owly: