re: production in armenia: andrewe safari my concerns were in...

re: production in armenia: andrewe safari my concerns were in regards to not returning emails. I found Matt to be very helpful. Apparently their offices over there were smashed on the way in from Turkey and were not set up correctly so they dont have any communications.
I am convinced this is totally undervalued based on concerns of sovereign risk. These risks appear unfounded as described by Matt. They are warm and embracing of foreign investment. They are doing well in their world bank rating as per previous posts. Patersons only put a 10% discount on vlauation due to soverign risk. They have it valued at $1.14. I am happy to be buying at 61c today again.
They have a MC of $43.5 mil as of close of business tonight yet they are mining and getting ready to produce as we speak. In a search of the ASX companies their is only 32 with a market cap under $200mill when they have any earnings at all.
Therefore we have a very good likelihood of achieving a $87 mill market cap when we are producing gold and selling it.
Matt didnt say when safari but soon is the answer. He did acknowledge that they need to communicate a bit more with shareholders and liked the UCL idea of a feedback forum. He is getting on with the job and that is what we want but we do need to hear that all is ok, especially when you have senitivities in the area of sovereign risk. No news is not always good news.
He will get an update out soon. and the quarterlies are due soon.
cheers andrewe.