how to value a junior gold, page-101

Hi Buffett

Catalpa is the old Westonia

Operationally this mine will be very cheap to produce gold. Location 5 km from Westonia town site. Plant powered by mains power - half the cost of diesel generation, etc.
A gold company that WILL be producing over 100,000 oz of proven gold annually by 2010 qr (1.2gt/t is about middle of the road when compared to other producers)- we are not talking about an exploration company here. Catalpa will be ready to take advantage of the high gold prices this time next year.

All boxes are ticked. Don't think 1.2gt/t is too low a grade.

Very importantly you have an extremely professional CEO, Board and management team that are knowledgeable, experienced and very talented.

Don't miss this Fenian boat destined for a better life.