RE: Why bother ?the author seems not to be deep into the mining sector. An initial resource of 100m Oz in silver equivalent isn't that bad for a start at Paca. The area is quite big and there is a lot of potential just by reducing the drilling grid and by further step-out drilling. Additionally Pulacayo UTVS - open pittable - hasn't been included at all and to my understanding Pulacayo LTVS has such high silver grades that they could just continue the underground mining.
As far as La Solucion is concerned they have a typical mining concept that APE has in common with a lot of other silver/Zinc explorer/junior explorer - they have a mill feed for about 3 years and use the meantime to further upgrade the 43-101 compliant resource base. This so called resource stock expert probably has forgotten to include the 43-101 compliant tailings resource of
total 181,512t 17.85g Silver 0.47% lead Lead 3.00% Zinc
that will feed the extended mill for about 1.5 years.
The major problem of APE is that Canadians/US-Americans tend to overemphazise risks because they don't understand the political strategy of a country. The truth is that Bolivia has ratified a new mining taxation code and there is no indication of Federal confiscation of mines. The opposite is the case and huge projects like El Mutun has been privatised, South Korea wants to develop a copper mine, Russian comoany Gazprom goes for a huge gas-deal with the Bolivian Government like Brazil do and Japan is officially on the hunt for Bolivian Indium, Zinc, Lead mines. As you can see all of the so called BRICK countires are amongst the investors that wanna put money into Bolia. The traditional investors like Canada and USA have tocked off Bolivia mostly because they don't understand the political situation. They read in their manipulated press publications about communism and all this stuff and sell all stocks in such countries.
Bottom line is that APE has had huge housemade problems (Rick Irvine) and a weak management (John Carlesso) who is no geologist and was not in the drivers seat in Bolivia - this is the main reason why APE went down so much.
Art