RE: Small scale base metals producersorry Baystock, but your comment on risk related to APE gives me a big smile on my face. have you seen the chart of APE going down from 1.50$ to 0.21$ last week? what do you think this decline is related to? the mix of resource prices is almost the same and the political situation is more or less lear now after the new mining taxation has been ratified. So what do you think the 86% fall of this company is related to?
The market cap is about 12 mln C$ and with 8 mln lb Zinc in low cost production I think we get a 2 mln$ NPAT, which is quite a good cash-flow stream for a 12m$ company with a decent resource base - don't you think so?
As far as Paca&Pulacayo is concerned APE has met the requirements of COMIBOL and SIL so far and has established a great relationship to the local mining society. Do you really think that APE will invest monies for a 22,000m drilling program when they are not sure about the continuation of the project under APE as operator? The scoping study dated Feb2007 was already quite detailed and IMO they will be able to deliver a BFS this year based on two open pittable deposits one at Paca, the other at Pulacayo. I hope that they add some high grade silver shots to the Pulacayo resource base.
To mention an almost two years old presentation in order to discredit the new management is nothing I would like to comment.
Art