just spoke to Marc from China!Yep, your tireless CEO just called at 2:15 am China time to answer my questions.
Everything is going just beautifully, I'm happy to report. Talk about a buy opp following yet another low volume decline, not to mention following the company's most amazing press release ever and during a period in which metals prices are breaking out.
The following key points:
1. The Erbaohuo 43-101 first draft will be done next week, and should be ready for publication around 5/1. Fortuntately, Ausenko/Micromine has learned a lot from doing the first one, and are thus going to be more efficient on the other eight. For example, they are already starting to make computer models for the other eight properties, with the Laopondo property next up to be 43-101'd (great results reported driling there last summer, by the way).
Following completion of the Erbaohuo 43-101, they will start producing the prospectus, which is obviously mostly done due to the recent publication of the S-2.
2. Things are looking spectacular in China, with drilling and development operations ongoing on multiple properties. By the way, the Barin Daba and Dajing silver mines (two of China's largest, sandwiching Erbaohuo), have been producing large amounts of high-grade ore. To paraphrase Marc, 'Erbaohuo could be the largest silver deposit in the world.'
3. In Mexico, development plans are being fast tracked in several areas of Cerro los Minitas. Marc also confirmed that they are very close to commencing production, which I think will be a large benefit for the stock. Sounds like an April or May event to me.
4. The timing of closing the Hubei acquisition remains in flux, as the government must first privatize the mine. Looks set to close without any issue, but hard to tell of the exact timing.
5. The company has been diligently working to get their annual audit filed. The reason it has been late has simply been due to the enormity of the task given SDRG's recent growth in Mexico and China. Apparently, their auditors decided to not send their people over until very late in the game, forcing SDRG to have to push very hard in the eleventh hour. The audit should be out any day, hopefully today.
All in all, simply fantastic growth and prospects for the Dragon, with the Toronto IPO looming in the near-term.
yoyoyo