15c, page-12

Yeah I totally agree. They are not without risk but the company has stated again recently that they are on track to resume full production in Jan (and then increased production throughout the year up to around 55000-60000 ounces per year). Lets not forget that without anything else the Engenho mine instead of having a 7 or 8 year mine life 6 months ago, now has a more than probable 15-20 year mine life with what should be high margins. There has only been good news for the last 6 months regarding the probable resource size of all their projects. If they do become cash flow positive in Jan and can fund all of their exploration from their profit we will see a massive upside. The real money is in the other tenements with average grades of 15-20 grams per tonne. Get them producing and we will see some large style profits and a quick and significant re-rating. And as far as a takeover goes? Not out of the question. At this price I would buy the company myself if I had the money!! Definately worth the risk in my opinion.