amec

for those who missed it, brr has released Les Davis recent AMEC presentation. Les is pumped . Based on what he says in my view $5 is a realistic target by Dec 2010 assuming:

(1) confirmation of 10 year mine plan for Mt Monger
(2) greenlight for Murchinson development

I would expect the new July resource to be 2.5million plus ounces

Price targets above $5 will be achieved if

(1) the extensive drilling on the Lena shear over the next 6 months proves significant ( ie million ounce high grade potential on this Lena shear)

(2) drilling out of Magic over 3 months identifies a significant orebody. Dont underestimate the potential of the last bonanza intercept. There is a possibility, though not yet probability, that they have touched on a significant payable structure under Magic.

A blow off in gold past AUS$2000 will send stocks like SLR parabolic

I know "mum and dads" who took $10K punts here at 20c and could pay off their mortgages with the winnings in a few years. Something the greymen of Canberra will never understand

SLR success is a one in a hundred, it would be difficult to replicate, though there a couple I think could. I had a chat with a prospector in Perth a few weeks ago who had finally hit paydirt after 20 years of struggle. He reminded me that if you were to look at the ASX mining list in 1993 and compare it to now, how many juniors actually deliver the big returns. Very few.

http://www.brr.com.au/event/66159/silver-lake-resources-presents-to-the-amec-convention-perth-les-davis-managing-director