Slate Grocery REIT T.SGR

Doing my DD - Observations

[nonrev321]

Hello, I posted last week regarding a potential investor doing DD on this company. MY observations are as follows: While the web page is good it lacks key information. The major thing I couldn't find is the production forecasts. I did find these in the Dec 06 Technical Report. I couldn't find the production numbers for Q1-07 and Q2-07 on the web page. These estimated numbers are again given in the Dec 06 Technical report. Why arn't the production numbers posted on the web page? Did they or didn't they meet the Technical Report projections? If not... why not? Is the milling meeting expected recovery rates and throughput? Was a bit put off by the large number of shares outstanding Was impressed that the grades seem to be increasing with depth and new veins are being discovered in currently mined areas. (though I do think its way to early to be touting another "Goldcorp") Was impressed with no hedging and no major future capital expenditures. Also liked the potential of the project Anyone hoping to make money based on the future profits of this company will likely be disappointed with gold at $650. They will make money but considering the number of shares out, and likely to be out eventually, the earnings/share will not be great. If gold stays below $700 I expect there will be a ceiling around $3.50 on the share price all things staying the same. This is a good speculative play for increasing Gold prices as the leverage should be good, especially if the grades keep increasing and production targets are met. I am taking an initial position of 7500 shares on Monday. Regards nonrev