Its too easy to look at price and not value (assets) We're down...

Its too easy to look at price and not value (assets)

We're down here because K.W  I presume had to do a deal to make it too good for people not to come on board with very little
risk if any, and achieve this in a very short time frame.
Looking at the gyrations of the price because some one can move it up or down by over half on no bad news only adds to the emotional
mix and forgetting value.
Miraflores has had over $29 million dollars(CAD) spent on it by Minera Seafield...MNC have spent further millions on it (Los Colatos money,a further raise,(can't remember exact amount) plus the latest spend on tesorito.Plus spend towards purchase.
We now have a 45,000 oz project with BFS, work on going with final permitting....extra drill results on tesorito, obviously with the intention of adding to the 45,000 oz's.

Then Chuscal....which if successful could hit the ball out of the park.They've dropped a few clues as to what they obviously hope is there.
Even Dosquebradas is even now getting a mention.

Chilean assets to divest......and all this for a m/cap of 5.475 Aus $.Certainly seems some disconnect to me.
I do realise we will need more cash shortly but latest Stockdale Securities note puts a value on us at 2pence,as they are now the house
broker since around July I'm guessing that's the value management currently view the project.

Not to sure if anyone follows Marin Katusa but he had an interesting note out yesterday about Kirkland Lake looking for juniors
with producing mines.(not us I know)

Key takeaway points below..,so if we can get mine ready with below criteria what are we worth with our AISC let alone Chuscal


First, you want to identify single producing projects that are:

• Not owned by majors;
• Located in non-AK47 nations;
• Producing at least 75,000 ounces of gold per year.

I’ll save you some time and tell you this. There are over 600 producing gold mines in the world.

I ran the criteria above through more filters and cross-referenced my mining database. I then eliminated the following:

• Low-grade projects;
• Projects with short mine lives (less than 8 years with no exploration potential);
• High-cost mines (cash costs of more than $800 per ounce; general rule of thumb – if cash costs are $800, all-in sustaining costs could be as high as ~$1,200 per ounce).

Again, I’ll save you the time. I came up with a list of 89 potential mines.