Ann: Quarterly Activities Report and Quarterly Cashflow Report, page-100

Can't wait for Dave's explanation. No response to my email sent yesterday morning. This is not a case of patience required, there has been a fundamental change to the entire projects viability. Look at the bar graph showing the AISC projections throughout all 3 stages. Even when CAI hits stage 3 and would be producing 130koz (it hopes), their AISC is still $1900/oz?!?!?! Not to mention where the hell is the money coming from to get to Stage 3. They need ~$30 million to get there, plus more risk of operational problems with the expansion. They burned through $10 million last quarter, have less than $10 million in the bank, and have committed another $3 million to finish the airport and bore fields. How can anyone possibly say they wont be raising capital? More importantly, what greedy institution will take on Calidus for more than 20c a share? None. Either Dave has been deliberately withholding true AISC figures, or he has know clue whats going on in his business. Either way, it's a sell.
Get out while you can, this is going a great deal lower than 29c