the cheapest goldie?, page-3

Gumboot

IMO the political risk is greater in Australia then Kyrgyzstan since the announcement of the RSPT. Regardless of whether it goes through in its current form or not, it has shown that with little/no warning and consultation, the Australian Government is willing to effectively nationalize part of every resource company in Aus.

Kyrgyzstan on the other hand has one of the lowest tax and royalty rates suffered by the mining industry anywhere in the world and gold is the leading export (around 45% of total goods exports in 2003). The previous Government understood the importance of gold mining (http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=52528&sn=Detail) and the interim government has said it intends guaranteeing the protection of international investments and it wants to continue support for the mining industry.

Things aren't back to normal over there, and many not be for some time, but this is not interfering with gold mining and exploration activities.

MSR now has 1.13M oz at two major deposits with excellent grade, recoveries, depths, 100% ownership, significant exploration upside, and mining and processing plans underway to fast track to production.

Current market sentiment is holding the SP back, but as Mr Buffet has shown, being greedy when others are fearful is a good way to wealth.