I spoke to the MD Adrian Molinia. He said nothing has really...

I spoke to the MD Adrian Molinia. He said nothing has really changed from the initial reserves figures.

What they got in extra width of orebody in E lode was made up for by lower overall gold grade in some areas and the ore body being narrower in places.

The production figure of 33000 ozs is the same as before, but probably badly worded as it still comprises 21000 oz gold bullion and 14,000 ounces equivalent of gold in the the antimony concentrate.

He thinks the offer removes some of the risk inherent in small operations (eg Beaconsfield) and still recommends the offer be accepted. More will come out in the official take over offer docs.

I expressed my concern at the offer being light on. He said another person had rung him and said the same thing but things may change down the track as gold continues to climb.

I think they are looking for a speedy end to this offer so the gold price doesnt kill it. I also got the idea that there may be other offers on the way after this one is completed :)

With regard to the share price being 35C and people selling at 36-37- he cannot say much, but I got the impression he thought they were throwing money away as the real valuation of the Cambrian offer is currently 42.6 (or near) cents. This will all come out in the take over offer documents and the report by the independent valuer:)

Looking good I think! I will be accumulating and not selling.

He also said "well if you are not happy with the offer when it is formalised, you can always get together a group of similar share holders". I then said "yes and it will only take 9.2 million shares to do it" :)