seeing through the fog...., page-7

Hi guys,

I'm not a geologist so I am curious about the gold recoveries for AMX. On page 22 on the latest investor presentation the gravity concentration process is "30-50% (all ore types)". Does this mean that recoveries are good so I am assuming this is a low production cost, simple engineering mine project. I am curious because I've thrown the numbers into an excel spreadsheet and I'm getting very good valuations to current market prices. I understand its very far out till first production so I've been very conservative using 20% discount rate with 150K oz production for 10 years.I also have a feeling that we are entering the investor orphan phase so the share price could slowly creep lower for a while.

Can anyone help me with these assumptions?