Hi seecat, My family group and I are not big holders ..we have...

Hi seecat,

My family group and I are not big holders ..we have over a million shares and also over a million options. Management have responded swiftly to me previously -so I don't think its a size-of-shareholder thing.

There is something we are not seeing as shareholders ...and management thinks that we either don't need to know at this stage -or maybe they are not able to tell us for commercial sensitivity reasons.

Great to hear your perspective on commissioning, it's not an easy undertaking and I guess that implementing Big Haz into the system may have required fundamental changes that were unexpected. It may not be an easy case of just plugging in a different mill (although I ran with this concept at the time). Perhaps they are incorporating other parts of the existing circuit to improve efficiency -and this all takes time. As you point out, it can take months to get it fully sorted.

By coincidence, I was on site during re-commissioning of lead mine in WA (we may have met) around that same time (although I was on the mining side of things). There were times when we had no production work for an entire shift while mill issues were sorted (after the initial euphoria of the thought of a little holiday, we all hoped for production restart to relive the boredom -there is only so many times you can read the same old car and girly magazines that seem to materialise in the crib room).

Great post Kaz, thanks too.

Although I don't understand the logic or mechanics behind the recent share issue, I can only assume that it is in shareholders long term interest -and better issuing a few shares than having no money like in the past -maybe it's to help pay for drilling? The cap-raise was very astute with now 12 months operating funds in the bank.

I seems (to me) that the basic data still holds:

• The incredible gold grades have previously been demonstrated in genuine bulk with micro and mini Haz and there is no information to suggest that has changed.
• Highly prospective results from both Eliseo and Antena-Xupe should be getting close. I would have discounted Eliseo as having much chance of great results, but the existing data is compelling. Very long intercepts of mineralisation with grades that are very positive for open cut -especially with a low strip ratio. The new mineralisation theory supported by geophysics at Antena-Xupe has been confirmed by previous drill intercepts -so this one looks (almost) like a given to me.
• New drilling programs must be also getting close to kick-off. Sertao drilling appears likely to provide a significant increase in resource as there is a high-grade (600 m down-dip) intercept (drilled from our neighbours tenement) -but very little data in between. HOWEVER, it is Tintero that really has me 'quivering with antici....PATION!'. We have the funds to whack some drill holes right in the most prospective areas -and we all know where they are thanks to this comprehensive report (as most of us know). This could (potentially) begin to blow the lid of the value in our tenements (at least get it well underway).

It seems clearly possible that this activity may have forced the hand of a potential suitor who may want to grab the bag of gold coins before they are counted. If the gold is there then any takeover offer is chicken feed to a major. If the gold isn't there ...then why is a major our largest shareholder?

They have clearly done their research before splashing the cash (and wonder how much research they did prior to pulling the trigger). You get nothing for nothing (quid pro quo), so why would they invest 5m as shareholder as well as give us $3mil as operating funds. Did they just like us (as the pro-JV crowd pointed out) or were there some other understanding that existed with our Brazilian company? The OGX announced that they had conducted due diligence for over 12 months, but I have heard chi-chat that they have been familiar with Cascavel for a lot longer than that. Oh the intrigue! I think there is a lot more to eventually be revealed.

Then again, perhaps this delay is just a matter of plant commissioning ...either way the gold hasn't vaporised so it's still either there or its not. If it's not there then why would Anglo invest and why would we need to issue new company shares (they would have no value).

I think it's there and I too will be holding strong (will need some drinking silver at sometime ...but this can wait until after news -which will hopefully be positive ).

Cheers HOLDERS,

SJB