Ann: Juruena Gold Project Maiden Resources, page-4

There is no doubt that there is high grade gold in the deposits. The issue simply is that CAS has zero ability to fund what is required, except through dilution or the sale of Borborema. The resources are nice, but relatively small and with most of it being U/G, development is bloody costly, even in Brazil. I realise they would likely focus on mining the open pit first, but... still, they need a plant etc etc. 12 month timeframe is just not possible IMHO.

Anyway, all I can say is I am underwhelmed to date. I guess I have invested in so many gold stocks, I feel i have a decent understanding of just how long its going to take before CAS becomes a gold producer. The drilling alone is going to take 12 months at least. They will need to prove up reserves, not resources for starters.

Damn I wish they had brought in a J/V to develop Borborema. Massively wasted opportunity. If you have a black dog on your shoulder, I must have a grumpy bear on mine GZ!