I have had my scotch to calm down and I finally had a chance to...

I have had my scotch to calm down and I finally had a chance to read the announcement while not being in shocked state of mind.

Some on here think we may have jumped the gun a bit and hit the panic button too early. Well this ann. should be a concern to all who hold, but if I had been on the sideline and impartial, I probably would have been tempted to buy in the low 20's.

It is easy to say management failed shareholders, however I can't seem to shake the feeling that they were also shocked from the final analysis by the various consultants and contractors they would have used, and who they depend on their expertise to model the PFS and DFS.

There is no way JT and co would have released a positive PFS deliberately to give a false impression of the situation. What would they achieve? Did you see any directors notice that they bailed out?

The DFS goes into more detail and you sign contracts with various contractors and offtakes to complete the DFS, so it seems when push came to shove the promises at PFS stage were changed higher which caused the costs to increase by 10%. The PFS said $440 now $500. Capital costs $90mill now $138mill.

This fact alone rather than the 10%increase in operating costs is the huge obstacle to go forward. Why? Banks were prepared to finance $30mill but $68mill will need stronger cashflow certainty which the offtakes don't provide yet. The board is correct in putting it on hold.

Appointing Mr Klein from Sino gold may help a long way to finding a solution. In the meantime GFA will probably move on, which means the JV area can be drilled quickly.

The silver area 39 does not have the problems of the rest of the area and they could get the silver out easily.

I will hang on the following extract for now, .
"Conquest remains confident that the Silver Hill project remains a strong and viable asset."

It also would not suprise me that in a short time a more postive announcement comes out. If the buying is strong at these levels in the next few days it will confirm my theory.