Ann: 77% Increase in Production to 49,199oz For M, page-6

re: Ann: 77% Increase in Production to 49,199... Rowingboat

Thanks

The company should have announced a timeline for completing its expansion to 10mtpa by now. I am eager to see what they have to say in the quarterly report. I thought that perhaps this proposal may face some delay as a result of new tax proposals in the Philippines.

The time to sell? My thinking is sometime in 2014 after the hedge is gone and hopefully they have achieved 300k ounces pa (or perhaps a bit before then?). The way PRU fell back from $4.00 to $2.20 when brokers have a valuation of up to $5.00 says that trying to extract the last penny out of a company by holding on is not a good way of thinking. The share price has a habit of retracing a lot, as SAR, IGR and RMS have also recently demonstrated.

CGX is a frustrating company, but so are so many others. We cannot have all our funds in SLR and MML, or can we?

Are you still invested in TSX listed companies which are not also listed on the ASX? Any pros and cons from doing that? Do you subscribe to any newsletters like John Doody's report on goldies? There seem to be a very limited number of goldies listed on the ASX that are investment grade, and I am not interested in NCM. On the negative side, TSX goldies have also been smashed.

Perhaps Jeff Christian is right and the USD POG has topped out and will remain in the range of 1400-1800 over the next 10 years. In which case company selection becomes even more critical if one stays in the goldie space. Base metal prices seem to have topped out, and I think the oil price has too, unless there is a war in the Middle East, because of cheap gas and shale oil.

http://www.financialsense.com/financial-sense-newshour/guest-expert/2012/04/11/jeffrey-m-christian/cpm-gold-yearbook-2012

loki