undervalued gold stocks to buy, page-85

Sapes is an advanced high grade gold development project located in north eastern Greece approximately 30km northwest of the Aegean Sea port city of Alexandropoulos. Key details are:
? A feasibility study conducted in 2001 and updated in December 2010 shows JORC Measured and Indicated Resource of 830koz @ 9.8g/t Au (Measured 647koz @ 8.9g/t Au and Indicated 183koz @ 14.9g/t Au) with identified JORC Proved and Probable Ore Reserve of 637koz @ 15.1g/t Au (Proved 23koz @3.5g/t Au and Probable 614koz @ 17.2g/t Au).
? The feasibility study reports gold production of 510,000oz, total capex of US$100m and cash opex cost of US$297/oz over 7 year mine life.
? Substantial opportunity for further exploration upside as no systematic exploration on the Sapes lease for 12 years.