Buy: Metminco Binary Hedging at Play, page-5

While I agree with gold to go lower, my call sub $1000USD, it all comes down to how much the COP decreases relative to the USD. For example one of the few currencies the AUD has appreciated against while dropping is the COP. it also depends on which currency most of the operating costs are in (leaving aside the debt component that will be USD, unless we are lucky enough to get the loan denominated in another currency). I still believe that Los Calatos is the game...the gold project is a bit of a side show. I am still extremely skeptical of the timeframes announced given the hoops required to be jumped through in Colombia. Colombia is not a simple jurisdiction to operate or obtain social and environmental operating licences. I would like to know how many indigenous groups are affected by this project. Colombia does not have a defined approvals process like Austalia.
Anyway, I have been in these guys for a long time and continue to hold. I hope they get a deal across for LOS Calatos and we can move on. Hopefully no more cap raises in the near future.
Anyway, AIMHO, GLTA.