Great announcement today-74% interest in mine producing 50k ozs gold at cash cost of US$9/oz-that's my kind of mine.
Capital costs of US$45mil-mine life of six/seven years-tax free holiday of four years.
Macquarie Bank will finalise debt financing within two weeks.
This is a definite goer-even though it's in the Philippines.
I broke a golden rule today of not buying on the announcement & bought up big-tomorrow's another day.
Top 20 shareholders control 77% of shares-that doesn't leave many for the rest of us.
LAF
lafayette mining limited
