re: Ann: Dargues Reef Gold Project - Robust a... Plough. Don’t...

re: Ann: Dargues Reef Gold Project - Robust a... Plough.

Don’t hide i welcome any criticism even ones i consider wrong as it helps to have critics, it means i get to go over the information i have and have another look at it with those critical comments in mind.

So please keep us informed as to why you think the following.

Worse scoping study you ever saw, you said no detail, yet there is far more detail from CRC than DOM at the same stage.

You feel insufficient expertise as a company. That also raises some questions as the board seems well represented with some very experienced heads such as
Clive Jones
Clive Jones B.App.Sc (Geol), M.AusIMM: Non Executive Chairman

Mr. Jones has been involved in mineral exploration for over 23 years and has worked on the exploration for a range of commodities including gold, base metals, (...)
his track record seems very impressive to me what with CAZ doing capital raisings at a premium to the market by 30% which is i hope to be repeated here as well.

Dr Derek Fisher
Dr Derek Fisher BSc (Hons), PhD, AMEC : Non-Executive Director

Dr Fisher is a geologist with over 37 years world wide experience in the resource industry. He has been the principal in a number of companies listed both on (...)

Peter van der Borgh
Peter van der Borgh BSc (Hons), FGS: Managing Director

Peter van der Borgh has worked in the Australian exploration and mining sectors for over 20 years, initially as a prospector in Victoria and Western Australia (...)

Now that’s a lot of experienced exploration geologists. And they have a track record of actually finding deposits. True there are no mining engineers but im sure they will come as they make the transition from explorer to miner.

And a share price of .18c gives plenty of room for upward momentum. Seems strange to compare grade when what we are really interested in is profit potential. And the study certainly revels that there is potential for that. Comparing companies is perhaps fraught with dangers as they are different and I certainly would not think to price them at 70c but certainly I would consider between 30 and 40c. as being on the conservative side.

CRC certainly fits with my investment strategy as exploration contains risk and very big risk so I look for at least the potential to improve by a factor of 10 to account for the risk now the scoping study does present a reduced risk which is great (its not all green fields exploration there is a big mine potential here) from a historically very rich alluvial field and all that gold that was panned had to come from some source and I feel that CRC are on to that source.

So .18c to $1.80 is achievable so it meets my first criteria and the risk profile has drastically reduced with this scoping study.

Don’t know that I can see DOM going from $3.81 to $38.10 any time.

One other aspect I like about this company is that they are trying to keep dilution to a minimum, sure they could go racing away and drill more holes and look for the numbers like 54grams/ton but then they will need more money and more dilution. I think there step to do the scoping study was great keep the shares on issues low get some cash flow from mining and gain a greater understanding of the structures could save a pile of cash and keep issued capital low thus greatly increasing the potential to turn this into a ten bagger.