in a year or two maybe, page-25

well at least EXM has got some decent grades, its got a mine history, its got the opp to go higher in from 1.2M to 2m oz, its going to get cheaper though IMO

RAU on the other hand has nuffin, low grade unbankable deposits in Aust and mind boggling difficult to develop ones in Peru

the cheif problem with Peru is that its been an underground mine for hundreds of years, the site is swiss cheese, so the plan is to go open cut, which makes it near impossible to assess, did the previous workings get all the gold? or would open cut deliver some productive mining, Peru is like cater combs , thousands of meters of tunnels and you can drill the hell out of it and still not have a bankable feasibility study because alot of the drilling would cross up on these previous shafts

if you read all the previous feasibilitiy studies and I have read hundreds of pages it would cost say 40-50m to get it into production, who is going to finance this ? in Peru?

google earth it and see where it is? its not just in Peru its really remote and mountainous Peru

did folks also know that the mine was the site of gun fight between miners and the government were 5 miner were killed in the late 80s?

RAU is a vehicle to work investors pockets and good natures, it will disappear off the face of the earth when we hit a gold downturn

it and its management are absolutely without merit

JK has never bought a mine into production in his life , the old bloke hasnt ever had a golden period in his career, he ran a mine for a period but that was as a mine manager, hes got no reputation as a mining MD and in fact one could argue he has shown incredible stupidity (or worse) in his commercial dealings, MT Carbine was one of the worst commercial negotiation disaster on the ASX in 2008

if you looking for him to become Don Bradman as they say your dreaming