Ann: Focus Commences Ore Production at Tindals Op, page-10

re: Ann: Focus Commences Ore Production at Ti... g'day Pinto.

spot on with your view that it's always best to take the funds when they are available. Oxiana didn't do that & they destroyed a brilliant company & BILLIONS in shareholder value (big chunk of arrogance as well in not hedging even a little).

I should have also added into my piece on resource stocks take a lot of time, that they also take a lot of capital. I lost count of the OXR raisings. AOE & NEC both had a few. Necessary for them to achieve full development.

If we're to have a shot at that big multiplier I dream of, they need to find millions more oz & then prove it up. That will take >$40m. But they will have done enough drilling to comfortably get to the 130,000oz in 2012 & that will spit out enough $?s to even more drilling to take us to the next level (200-300,000oz). For that we?ll also need a plant upgrade. So depending on POG & their cost, we may well see another CR in a year or so for a bigger plant. BUT, if they don?t find enough to feed a bigger plant, no use building it.

All starts with the amount of drilling they do this year & next; the $40m covers that, thank goodness.
I?m still focused on the Mount & greater Coolgardie for some exploration upside.

Cheers,
Ned.