GREY:GPLDF - Post by User
Post by
investor2003on Mar 30, 2007 11:41am
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Post# 12519380
update
updateI called IR, very nice chap.
Anyway, he gave me all the info I needed. The 43-101 will come outlater this year, not in April. What happen is that previous mine owner of Guanajuato, did almost random drilling. Their data was not robust so they had surprises. This said, they are doing drilling since a while , and electronic mapping of deposit, and that explains the 43-101 delay. But make no mistake, there is high grade silver and gold. They will be cash flow positive in Q2 by processing existing drilled location with lower grades. But you can expect much better grades during the next months.
The presentation is all good. You can use that data. They are basically 1 year back, so next year they should have 4 M oz. AgEq per year. Roughtly 80-85% is silver out of all which is very good.
This year, 2.5 M oz. stands. So, you can expect the worst of the news is behind us....which I love buying discounting shares. In this market it is very difficult to get cheap shares of anything.
Hope that helps. I will probably had more if further weakness is shown. Also, they have 4 drill results news release to be coming out in the next short while. I wouldn't be surprise to see better news
I know I won't wait long to add to my position. No one said mining is an easy business,
cheers
I'm off