Ann: Investor Presentations, page-27

Agree totally. I used to hold GMD when its MC was 40% of todays level, and basically sold out about a year ago and moved those $$ into CAI for your exact reason. Unfortunately I missed the big move a month later which happened when Rayleigh Finlayson came on board and the stock more than doubled on this fact alone. Since then though CAI has evened things up, GMD has stayed about the same and CAI has doubled+.

I would still rather be holding CAI as a producer rather than GMD as an explorer/developer although GMD do have a good project, good management (now with RF) ... and they are currently under a trading halt so who knows what else will happen there.

The most over hyped goldie in my books is BGL, ~1B MC, spin doctor management on massive salary/bonuses, and need to develop build their project in a highly inflationary cycle. Project has decent scale and very good grades which attracts everyone, but some of the veins are quite narrow and will be more expensive to mine than people expect. Again I'd much rather be in CAI as a producer at 320MC.

AIMHO of course.