RE: Why bother ?No, but you probably don't undersand the extent of this problem. The new management team that took over at the end of April first had to review all APE projects in order to optimize the allocation of the financial resources. This caused a huge delay, for example the Pulacayo drilling program should have been completeted at the end of June 2007 and now we're looking for the end of February 2008; same with Paca - Micon already completed a scoping study incl. pit desong, recovery figures and transportation scheme and in February 2007 they implied that the BFS is just a question of upgrading the resource.
First job of the new management was to collect monies in such a bad situation and investors got more and more aware of the delays and the really poor financing conditions and sold off APE. In my view this had nothing to do with the political situation in Bolivia.
The new management had no opportunity to show success to shareholders because the drill assays are still in the labs and honestly I'd rather prefer a news release in 2008. APE will generate a permanent news flow in 2008 beginning with Pulacayo results followed by La Solucion drilling news and hopefully news on the mill upgrade, after that assays from Paca should be in and I'm quite excited about more drill-results from the Pulacayo underground holes. To my undertanding the BFS is more a question of upgrading the resource and probably getting some additional 50-60mOz of Silver (equivalent) from Paca and Pulacayo to bring the resource base to 150m oz.
Art