price by the end of the year?, page-3

Hi Jerry, my reply just below each of your paragraphs.

You're really asking for some big guesswork here Tony ;)

He he I know sorry Jerry ;-)!

First part: management will be doing everything it can to have it at a stable level well over 1c by June/July, simply to ensure that the options (CFROB) are exercised to provide them with more working capital.

Yes i read it should provide them with an extra $7-8million?

Second part: the small sample that we have results for so far indicated an average of about 12g of gold per tonne.

Yes that's right.

Commercial extraction of gold in shallow mining (such as this is) becomes feasible from around as low as 1g per tonne. Based on that you could have a guess-timate of what the SP might do once they get an operation set up to start extracting the gold in bulk.

Sure.

Now, provided the large sample (due by the end of the month) isn't a complete let-down (not likely), and the fact they plan to start setting up operations in April from memory (they are so confident based on what they themselves have already seen that they are already proceeding with a plan), I would imagine by year-end the SP could quite easily be an order of magnitude higher than it is now.

Yes very encouraging indeed. I'm looking forward to the results due end of month too.

This is keeping in mind that Cluffs partner in this venture (Varun) has contacts and experience, so going from production to revenue should be a done deal.

I was very impressed with the JV partner in Varun and i too share your sentiment.

Jerry I'm looking at entering but am seeing the sellers starting to stack up. Would 0.006 be a good entry price prior to news? I'm not quite sure if it will get there though.

Many thanks once again.

Regards,
TI