important presentation - thanks rowingboat

Rowingboat

Thanks for mentioning the very recent BMO conference (mentioned on the gold thread) where CGX made an important presentation setting out its plans.

How come CGX did not release a press statement via the ASX about this like most other companies. This stuff is really exciting.

http://audability.com/AudabilityAdmin/Clients/BMO/10938_228201180000AM/primary.aspx?Event_ID=938&str=CGAMining&typ=Archived

Some key points are:

. A resource upgrade to come from their exploration activities in mid year
. Milling capacity has increased to 6.5 tonnes resulting in annual production of over 200,000 ounces (around 230,000 ounces I think);

. Plans to expand production to 350,000 ounces in the near term (via another 3.5 million increase in milling capacity) - this will mean annual profits of about $175 m pa - expansion to cost about $75m which they can fund internally

. King King project has an in-ground value of $30B - huge potential

. CGX is becoming a cash cow - lots of potential

. They are thinking about future dividend policy

. SRM is of interest to them in case they find something

The BMO presentation has more information than what is on the CGX website, and it is worth a listen.

No wonder the price is holding up so well today. Sellers are just plain foolish.

Loki (I am excited)