It is clear that Alfred Little presents the data in the most negative way possible.
My conclusion is that the situation at Silvercorp is not nearly as bad as what Alfred Little believes.
Alfred Little has touted his success on Sinoclean Energy (SCEI) excessively, and Silvercorp investors are likely tired of hearing about it.
When the Alfred Little allegations came out, there were a number of items in his reports that in my opinion were off base.
The conclusion is that the results are not nearly as bad Alfred Little seems to believe, but still a notable decline in silver resources nonetheless.
Finally, Alfred Little states that the ore grade has declined significantly.
So even if we debunk or downsize much of what Alfred Little says, we now have a separate issue to evaluate, which is that of valuation.
It simply means that Alfred Little relied on various pieces of evidence and could reasonably have come to its conclusions of fraud based on that evidence.
So it now appears that Silvercorp has less silver and it is of lower quality, even if it is not to the extent that Alfred Little believes.
On the one hand it is clear that Alfred Little is a short seller who has a financial motivation to portray his findings in the most negative light possible.
With its most recent set of allegations against Silvercorp (SVM), it seems safe to assume that the intended audience for Alfred Little is the SEC rather than the auditor and the objective is likely to be a delisting.
Two years ago, there was a little personal project called Alfred.
But there's a long list of NFL stars whose mediocre combine performances gave little evidence of their potential, including 2012 running back Alfred Morris, who was underwhelming in Indy, drafted 173rd, and wound up being the NFL's second-leading rusher as a rookie.
WSJ: NFL Combine: Football Is Back! (Wait: Already?)��Jason Gay
It was both "wrong and retrograde", he said, exhibiting a little of that talent for alliteration so admired by Professor Higgins in Alfred Doolittle.
Some of us may want a little more power, or just a different variety of power -- which is where the recently launched Alfred 2.0 comes in.
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