BROKER'S REPORT ARGONAUT- GO NORTHWEST, page-6

Thing i find a bit funny about this is that the 5 may argonaut assessment gave a valuation of 1.60. Whats changed since then?.. DEG has removed a ton of doubt and confirmed more than what was previously speculated in terms of resource and reserves, made it official via the JORC standard etc, yet they still value it at 1.60?

Argonaut confirmed the likelihood that even more has been proved up since the may 15? cutoff date for the MRE so even though that cant be included in their estimates it should be reflected in their conviction in assessing borderline calls and add something to the price.

Ok I realise they kind of did kind of leave the gate open to the up side on their estimate this time, saying it could easily go higher should reasonably probable things pan out as we expect but still to leave it at 1.60 seems a little odd don't you think?

I have no doubt we will head higher in the reasonably near future, muchly dependent on external happenings and influences but I'm surprised that they didnt at least bump it up 10c or so to reflect the increased confidence in the confirmed assets and whatnot..

Ok the gold price and I guess gold miners sentiment has taken a bit of a dive recently but these reports should be able to see the big picture and not be so reactive to short term movements, because it could just as easily go up as much as it could go down. If they are to be taken seriously they should be objective enough to not be too swayed by the day to day movements and focus on the bigger picture and the facts they have in front of them, which surely have improved since the 5 may report?

What your thoughts?

Frankly im not too bothered because im here for more than just the blips and pips and still confident in the big picture but curious why they didnt at least step up the valuation a little bit more than just the same price as before but with a bit of positive sentiment and a few nice words thrown in.