Ann: Kouri Drilling Update, page-6

I tend to agree, although I would be surprised to see a downgrade. Perhaps that zone of the resource will just stay the same as they've already lowered assumed cut-off grades to effectively compensate for the fractured resource. Direct extensions of the Kouri deposit in multiple directions , particularly from the high grade section north-east into the new permits, will ensure that the total resource size increases at least overtime.

I still think it has a good probability of being a mineable resource and maybe these satellite prospects/deposits could turn into something. However, the real question is will the company be able to see it through without major shareholder dilution and erosion of value. They have fallen behind their timelines with the permit acquisition, as well as with the drilling program, and now are making administration errors. For a company this small, even minor delays have major consequences.

Things are much more tenuous then the recent posters seems to realise. Quadrupling of tenement size doesn't mean very much and could even be a bad thing, causing the company to dilute their limited cash for drilling across an even greater area - rather than doubling down on the existing resource. Also I'm not surprised they haven't been able to find a buyer for the Chilean zinc deposit, as the grades there are quiet weak. If it was easy to sell then they would have already by now.

In short, there is potential here. But can this be translated into real value on a per share basis given the future dilution required?