Ecuador and general reseach., page-445

Hi @DGcruzing
Yes always good to be informed direct than here on HC.
Email was sent 14th Sept outlining a number of points.
Reply received and the response was "Macro conditions" and no understanding of "why the market have reacted in this way". None of my points were answered. The response goes on to say "we've done what we set out to do". I speak/email to all my invested CEO's and a bit alarmed at the response. In fairness management must be worried as there would be a degree of Macro Conditions and Sovereignty effecting the SP.

IMHO I agree with you Brama just isn't showing 10mloz near term as the more they move away from the main deposit the less grades. Still showing some promising tonnage and there is snippets of high grades but only a few meters. Further drilling has not replicated L17 which is a worry The new target by the 2nd rig was a bit disappointing IMHO.

I'm expecting 2 results per month (roughly) or about 6 weeks apart (Labs permitting and no breakdowns) and assess where we stand around xmas. The Board will need to expedite a new drilling program with what capital is left and what size of a future CR next year. I hope they concentrate on Limon with both rigs in the next program, Good move to have both rigs at Limon. Whether STM revise the EMR and begin marketing the resource or look at DTM (Decision to Mine) both can be rewarding and the team have a good record. The later will cost as there will need to be a BFS and Capex moving into Engineering/ Project Construction Coordination Management/Environmental. Ecuador seems to be pro mining but unsure of the state of their fiscal condition both Gov, Insto and Private. Prefer targeting a T/O and move to EP where there would be enough capital on the books to really open up EP and a dividend to their shers, depends on where the updated EMR sits. Regardless I did pick some more up at 1.6cts but its risky as STM will need value in the SP to leverage raising and more L17 results. I wish the team the very best

Just my take on where were at and for discussion. When I invested with STM my DD at the time showed 18-24mth time frame, possible T/O at around 20cts....ooops. Shame I'm not in Brisbane ATM hopefully some questions will be asked at the meeting and shared.
GL @DGcruzing