I assume the primary focus of the company's Romania acquisition...

I assume the primary focus of the company's Romania acquisition is bringing copper production back on line which is a good thing but they have also made it clear that the tailings hold significant potential. Apologies if this has been discussed previously.

My back of the envelope calculations (approx) based on the EDM estimate on tailings resource shows an in ground value of at least $136 million US (current prices)

I base this on:

4080t Copper - $38m
6640t Zinc - $14.6m
3100t Lead - $7.9m
309kg Gold (approx 10,900ounces) - $16m
And a massive 35t Silver (over 1.2m ounces) - $60m

There are no doubt other metals not yet estimated which will have value.

If silver continues to rise and if that figure of 35t is correct then that alone could have a big impact here.

This resource is of course dependent on verification and the ability to reprocess economically. If verified it would also confirm that an upgraded plant should process the exisiting non tailing resource more efficiently.

Applying the 2004 production results and assuming 200k tonnes throughput per year with moderate (20%) improved efficiency, revenue per year could be over $22m for copper alone. (current prices)

Assuming they can secure regulatory approvals and a funding agreement for the purchase, based on what we know at this point i think the Romania project does have potential.

Still only holding a small amount here. Patiently waiting at .002 for the options. Maybe i should bite the bullet and grab some at .003!

Good luck all.