marengo hits gold, page-6

The risks are there but the discount is excessive, mostly due to global factors. Soverign risk is very low particularly now the Government are partnering up.

Financial risk, will depend on the outcome of the DFS, however the economics of the project appear to be the there imo and will strengthen with any upgrade.

Their big chinese partner has already agreed to a substantial offtake of any production and wants it enough to help source financing for the project.

I'm confident MGO will get rerated on the resourse upgrade as it transitions from suspect to prospect and will rocket if the DFS confirms the viability of it.

Then again you could just simply have faith that George Sorro and the Canadian pension funds know a good thing when they see it.

IMHO

Oscar