Hello all Readers, A following Quote indicates that Batavia 'did...

Hello all Readers,

A following Quote indicates that Batavia 'did the right thing' by not rushing ahead with Deflector approx. Fifteen Months ago and now BTV deserves more respect by the Market than is the present Case, because after all the Directors of BTV have on the face of things Saved Shareholders approx. $360,000,000 (approx.$3.00 per BTV Share)while the Gold price has Climbed.(Gold Price was approx.$630 Aus. when Deflector was deferred and now the Gold price is approx. $1,000 Aus).

The Quote:-/odays newspaper article about monarch (hainholz)
Code: MON - MONARCH GOLD MINING COMPANY LIMITED (Google MON) Post: 2560717 Reply to: #2560435 from googly1 Views: 38
Posted: 17/02/08 08:23 Sentiment: Buy Disclosure: Stock Held From: 91.4.xxx.xxx
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smh

Mining promoters do battle for gold
Email Print Normal font Large font AdvertisementFebruary 15, 2008
Page 1 of 3 | Single page
While the yellow metal rides high, a couple of stumbles make new projects so much harder.

IT ISN'T easy promoting a West Australian gold company these days.

Despite high gold prices, last week's collapse of View Resources - and the earlier capitulations of Gleneagle Gold, Croesus Mining and Sons of Gwalia - have left some investors wary of the state's gold sector.

Apex Minerals and Monarch Gold, backed by some mining industry heavyweights, are trying to buck the trend.

The managing director of Apex, Mark Ashley, has kicked off a three-week tour of Asia, Europe and the US to promote his company before the company seeks $55 million in financing for its Wiluna project.

Apex has yet to decide on the format of the financing package needed to get Wiluna back into production by the end of the year.

The Wiluna plant could produce 150,000 ounces of gold next year through blending lower-grade Wiluna ore with ore from two other higher-grade deposits within trucking distance.

Apex forecasts its costs at about 550 Australian dollars an ounce and does not plan forward sales of its gold, although it could take out some put options.

Meanwhile, Michael Kiernan's Monarch Gold is expected to emerge from a nine-day trading suspension after seeking to raise about $10 million through a bookbuild, down from an earlier target of up to $25 million. The initial disappointing performance of Monarch's Davyhurst operations left it with only $1.45 million at the end of the last quarter.

Kiernan admits it is tough to raise money these days, and within three months he is going to have to hit up the Canadian market for a lot more to fund Monarch's $65 million acquisition of Harmony Gold's Hill 50 mine. He says Davyhurst should be cash flow-positive by next month and Monarch should produce 130,000 ounces at a cost of $650 an ounce during the next financial year./End Quote

It's easy to see why the BTV Directors and what looks to be Chinese have been increasing their Shareholdings in BTV.

No responsibility taken for any losses in association with this Posting.

Regards,

moly