due diligence period ends this week

Okay guys not long to wait now. Due diligence on the gold projects to be acquired from Posit Resources is due this week. We will hopefully get a run down on the historical data from these deposits and more information on past production at each of the projects. Thats what I'm expecting to see in the long awaited announcement. For those not aware of the historical information on the projects to be acquired see below.

Historical Resources

Solton-Sary
640,000 ounces of Gold

http://www.kyrgyzaltyn.kg/solton_sary_en

The Solton Sary deposits contains the Altyn-tor open pit. I believe management will be looking to move this mine back to production quickly with refurbishment of equipment and infrastructure. When mining operations suspended in 1997 the price of gold was around $350 an ounce. Times have changed and the Altyn-tor open pit looks very attractive at current gold prices.

"In 1997 mining at the Altyntor area was ceased and the Altyntor open pit was put on care and maintenance due to the inexpediency of mining in conditions of a continuous gold price fall and low throughout metal recovery. The open pit was closed but the processing plant of the Solton-Sary mine continued to operate on cleaning of gravity tailings. The recovery of gold reached a maximum level at gravity limits by 2001.

The Altyntor open pit was suspended from 1997 to the beginning of 2003. Gold price advance and improvement of indices on recovery conduce to recommence the mining at the Altyn-Tor area."


Dolpran
55,000 ounces of Gold

http://www.geo.kg/uploads/pdf/rd_s.pdf

Kuranjayloo
142,000 ounces of Gold
464,000 ounces of Silver

http://www.geo.kg/uploads/pdf/rd_s.pdf

Kuru Tegerek

Have we acquired the following deposit?

-- The Kuru-Tegerek Copper-Gold (Cu-Au) deposit, located in western Kyrgyzstan, includes 172.7 million tonnes (Mt) (C1+C2) with a contained metal content of 97.36t for gold, 1.02Mt for copper and 97t for silver.

-- The Molybdenite ore body in Kuru-Tegerek also contains resources (C2) of molybdenum and rhenium which contain 4,883t of Molybdenum (Mo) and 2,328 kilograms (kg) of Rhenium (Re).

See link for Kuru Tegerek SRK Appraisal Report.

http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=5559314-5373-13867&SessionID=Z118HqxOZWQKms7


Sulu Placer Desosit - Size not known

Makmal Tailings - Deposit size not known


Our Peer in the democratic Republic of Kyrgyzstan in Central Asia is KGL. KGL's market cap currently stands at 160 million but they do have 70 million at bank and have arranged a 50 million debt facility for their Andash project.

The difference with our deposits is that Altyn-tor has previously been operational and is ready to go. Upgrades and refurbishment will be required but if these projects are acquired we move well ahead with development straight off the bat. KGL's Andash deposit is below.

"The current estimated Resource is 19.2 million tonnes @ 1.1 g/t gold and 0.4% copper for 680,000 oz gold and 77,000 tonnes copper"

http://www.kentorgold.com/Andash.cfm

Altyn-tor has higher grade gold but no copper credits.

"Balance gold reserves (C1+C2) of the Altyntor area were evaluated by Territorial Reserves Committee of the Kyrgyz Republic in 2005 and comprise 6,97 t of gold with average grade of 3,48 g/t in the amount of 2981.1 kg of gold."

http://www.kyrgyzaltyn.kg/solton_sary_en

Altyntor converts to 223,000 ounces at 3.48 g/t

The whole project area being Soltyn Sary holds 640,000 ounces of gold but total average grade for Soltyn Sary has not been published.