Core Gold DMMIF

comments from gold show ..

[upmarkets]

time to post this draft: At goldshow Jan 20 21 , on 3 visits to booth I chatted with Rob Washer , a project engineer and the CFO Basically: -- ( we knew tailings ponds done and ore being removed for stockpiling small pilot plant shows recovery level is met - bars poured months ago ) -- Zaruma ( mill ) still on schedule for 2nd Q ( suggests commissioning in May , decent production in June ) ( towards the planned 100k oz /yr ) -- the recent pics they had at the booth should be posted soon - updating the older pictures on the website (eg bases for ball mill now completed etc), Equipment being set ( there will be 3 or 4 diesel gensets soon ) -- on going discussions with Mining Ministry ( ie DMM ARY CTQ ) -- feels gov't plans to have a mining acted drafted in possibly 60 ish days and should be world class competitive legislation to encourage mine development ( same or even a bit better than Chile and Peru ) in R W opinion -- tended to agree Reuters is sketchy and I mentioned windfall is a proposal by tax dept not Mining dept. He had no negative comments and was glazed over -- if I recall R W said windfall presently applies to oil companies not mining -- also indirectly he gave me the impression that it is not a requirement to sign and sell production to govt ( like oil ) -- R W mentioned a new target (one of the red dots ) in the D Goldfields trend will be drilled this season - and drills are working -- the mill is simple and basic and complex operator instrumentation not necessary -- awaiting Permit for Jeruselem and doesn't expect problems as is similar to Z Expects it soon ( not sure if he said 60 to 90 days and that residents in J area are not disagreeable ) If permit on time then a copy of the Zaruma mill installion can start at J right after Z (note , that ball mill is here and is one of the units in the pictures ) -- Zaruma mill will have 60% spare capacity for ore from other DMM areas, or other companies , to be processed -- had little comment on the spin off except that it is progressing. Remember spin off is just 10% of D goldfields and it is then owned 60/40 by DMM / Telfer group. It is a zone monitization by DMM and a way for Telfer to get in fund the exploration and provide personel . --R W mentioned that we are valued at $35/oz in the ground and we know this is very low for the M , I & I . He suggested it should be much higher as we enter production We all should know what it is ( compared to recent takeover( my word ) values ) -- steady news releases should be forthcoming Fellows were upbeat and enjoyable to talk with ( I would check out the Govt 60 day agenda/draft and buy/add DMM or Ecuador mines before that passes ) Record show attendance I'd say My opinion of Reuters has fallen greatly a least 4 or them appear to have the talent of junior employees and can't prepare a report with any depth ( and or decent translation ? ). They seem to fall in the trap or having to issue news each day and do a poor job of it . That seems to be the level of news nowadays with micro reporting via the net. U