Ann: Quarterly Activities Report, page-5

Well gents, that's it then. Any enthusiasm I had for CAS has well and truly dissipated.

Luckly I did reduce my holdings a bit a while back, but like you GZ, I am fairly ambivalent about it all now.

CAS missed the Iron Ore boom and its most likely going to miss the gold one too (not that I think the POG will actually go down over the long term, more just that for now, Juruena is not going be a bonanza).

I have little doubt that there would be many iron ore bargains to be had, but with debt of $5 million already and as you say GZ, perhaps $1 million left by the end of Sept (remember that the production costs will be balanced again sales, so for me pretty neutral). Anyway, perhaps the $500k drilling might find something.

Totally agree about the upcoming resource statement, but not their fault really, they can only work with the results they get.

As for Borborma, with POG under $1100, its just going to sit there. DAMN. I really think they could have sold it or farmed down whilst the POG was around $1200 (maybe not a good deal, but.... better than nothing). Anyway. Too late now. If the POG has a big change, perhaps my enthusiasm might return, but until then...zzzzzz