what's up?, page-4

spoke with chairman Kerry at ARD(sounds like Its a two-man operation at this stage only 7mill market cap) he's very positive on having a nice reserve base in the prime Lachlan belt NSW by mid next year having increased ownership of their projects from GCR (where he is a non-exe director)he view was that soon ARD would announce a direct 50% ownership of Kempfield with the plan they'll hold closer to 70% by years end as it's all about funds invested the more they invest in drilling scoping study, JORC etc the more they will own I did ask likely outcome his view was if GCR didn't help with any funding it wouldn't cost much for ARD to take full control round the time they will decide to go ahead an mine the 22moz ag 30koz au +lead+zinc+barite resource(30moz silver reserve hopefully later this year)
he was very confident the resource base of ARD would increase on further drilling,the follow up drilling at the gold reef west wayalong could well be a nice surprise in the short term
In talking on the cash on hand looking forward Kerry did state a likely Cap raising to get the final fes an JORC done late 2010 an get the 70% ownership out of the way sooner (as like me he was very bullish on silver prices)

another one of the 3-- 70% assets of ARD is at sunny corner-

Compilation of historic data, combined with more recent work by Argent, has enabled the
estimation of a shallow, Inferred Mineral Resource along a strike length of 260 metres,
amounting to 1.5 million tonnes grading 2.1% Pb, 3.7% Zn, 0.4% Cu, 0.3g/t Au plus
24 g/t Ag. At current metal prices, this deposit has an insitu value of about $262 million
with an estimated recovered value of approximately $122 per tonne.(this was back on 800oz 12oz gold silver prices)


ARD is focused on being a low cost Silver gold base metal miner in 2012
they are very cheap because they are a mirco-cap without full owership personal I like the numbers an the area they are in .
holding 500,000 ARDO (only 48mill head shares)will cost me 100k to ex. at 20c june 2011