RE: Chinese dude ! Mundoro response. Here is my reply from Mundoro.Pretty much same old same old............
Mundoro has been focused on resolving the issue of the delay in license renewals for our joint vanture company in China as soon as possible within the longer-term context of successfully advancing the Maoling project towards full development and production. While this issue has obviously been a major factor in the large discount being applied to our valuation, our efforts to facilitate the renewal must be applied in a way that recognizes and works within the culture and business/political practices of China, and ensures that all stakeholders involved recognize the win-win situation of a streamlined approach. There is a track record of success with this methadology as demonstrated by companies that have previously navigated projects in China from the acquisition and exploration stages to development and production, such as Sino Gold, Griffin Mining, Afcan (now Eldorado) etc..
Our team has made very good progress in its engagement program with Chinese officials. Work on the definitive feasibility is ongoing and is scheduled for completion in 2007, and our next-stage exploration program will commence as soon as the licenses are renewed. Despite the recent turbulant behavior of commodity prices and resource stocks sector-wide, we remain confident in the value of the project and the Company, and expect that this will be reflected in our share price in due course.
Regards,
Cyrus Ameli
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