some agm comments

Following are a few brief comments that I picked up from the AGM. All resolutions passed. Full board present.

William Howe gave a presentation after the formal business, and noted now that the corporate side of things have been tidied up, ie 100% ownership of all projects, no buy-back rights remaining etc they can advance at haste the 3 main projects towards development.

Los Calatos
- 4 drill rigs currently, moving to 6 in a month and 8 in two to three months. They have to truck water day and night to drill. On this point if it becomes a mine sounds like they would pump sea water (as previously posted elsewhere)
- They are currently drilling deep specific holes, it is a very big porphyry system.
- 100,000m's of drilling required before they know ultimately what grade they will have and what an open pit would look like
- drill holes up to 700m from current resource are mineralised
- down to 1800m and still probing for the southern contact (any geo's out there care to comment on this?)
- very well mineralised system
- one of the best located projects today in Peru.

Mollacas
- ready to 'push button' on pre-feasibility study. Small project, great economics.
Vallecillo
- significant upside

Above are some of the things I took away from the meeting, hopefully accurate but don't rely upon it please. If anyone else was there please add/or correct this post.

IMO the MD, William Howe was very impressive, seemed like he knew his stuff very well, was no BS and not on the sell. Just matter of a fact which is not surprising given the significant amount of cash they have raised recently, no need to BS the punters.

Very glad I went to hear from the MD.