Ann: Production Update Las Lagunas Gold/Silver Pr, page-18

re: Ann: Production Update Las Lagunas Gold/S... Loki01
I dont think we will have to wait 8-9 months. When they announce the next quarterly at end of oct we will have have 6 more weeks of data in the actual quarterly and 10 weeks of known data that they can comment on.

At absolute worst if in Oct they say we are at 60% and will take another 3 months that would still be a good result.

At the current 25% of plan(and rising) we would be basically break even at a cash level. So all the increase from now on becomes surplus cash.

While some see the delay as a disappointment I see things much more positively.

The indication that costs are very close to budget is a huge positive.

They had a problem with silver recoveries and this is fixed.

So we now have grade validated and total operating costs validated.

All that is left is overall recoveries which are improving.
So now we have grade validated and costs

If the past is any guide this company only tends to announce that it has had problems once they have identified them and know how to fix them.

Given we have now been told that the ramp up was not going as well as we had hoped I would be very confident that it will now progress nicely.

I think that within the next month we will get some positive progress