montenegro

Let's have a quick look at Monty.

We all know and certainly agree that the price of 120K Euro was a real bargain in itself but what some of the new comers may not realise is what we actually got included in that price.

We have inherited a very large collection of previously compiled historical hard copy data and plans which took 4 geologists from Golder Associates UK office 2 weeks to inspect and photograph.
This data in itself was worth more then the actual acquisition price of 120K Euro. You can imagine the cost and time it would take to reproduce this amount of information at today's prices.

This data was then converted into a 3D digital image.

The company announcement dated 28th October 2010 not only states that the Project is approximately 20 times the size of the Peelwood North but also tells us what needs to be done and when.

1. "The first phase involving data capture and the creation of a digital geological database is anticipated to be completed by around the December 20."

2. "The second phase involving geological modelling and resource estimation is planned to be completed by the end of January 2011. This will enable a drill programme to be designed to support the acceptance of the historical data and drilling can then commence in the northern hemisphere spring, around May 2011."

3. On the 9th Dec we received an update stating that phase 1 had been completed with high grade core identified. It was further stated by our MD that: "The opportunity to preferentially mine the higher grade early in the mine life may significantly enhance the profitability of the planned mining operation" and that Golder associates are currently quantifying the tonnes and grade of the higher grade material.

4. On the 28th Jan 2011 in its quarterly activity report, the company states that "Based on its technical review, Sultan's estimation of the tonnage of mineralised material at the exploration target site is 7.7 to 9.6 million tonnes ranging from 2.3-2.7% Zn, 1.5-2.7% Pb, 0.2-0.23% Cu and 17-24 g/t Ag. This is based on the three significant deposits: Brskovo, Visnjica and Zuta Prla."
It was further stated that that the second phase involving geological modelling and resource estimation will begin in late January 2011 (so about a month or so later then previously announced) and should be completed by the end of FEBRUARY 2011. It then confirms the previous announcement stating that the drilling will commence around May 2011.

Now, does anyone have any doubt about what announcement we are expecting any day now?
LOL

I hope that this short summary helps us all to refresh our minds.

This is definitely NOT the time for selling.