Yeah, this might be a reverse scenario as we are the undercapitalized ones this time. At the time of the Endeavour purchases, silver was still in the basement, price-wise, around $4-5 dollars/ounce.
I remember an article by Bob Moriarty when he described the easy pickings down in Mexico. Some of the operations were so cash starved, they couldn't even afford to pump out the encroaching water. Many times they just followed the vein down to the water table then abandoned the shaft and looked for another vein outcrop to follow downward. Also, the mills and other equipment were in really sad shape. All this was around 2003 if I recall correctly, and they were well positioned to ride the bull over the next few years as silver prices climbed. I'm kind of hoping we catch the next ride up.
