RE: 80 million $ What to do with it?The MD&A indicates the UMZ report is due by the end of the first half of fiscal 2008. Also from the report there is an indication that higher costs, taxes, and political stability make an investment in the UMZ very risky.....
Following the issue of the PFS Technical Report, the Company engaged Kappes, Cassiday &
Associates ("KCA") of Reno, Nevada to complete a NI 43-101-compliant full feasibility study on
the UMZ. This study was expected to be completed by the end of the 2007 calendar year.
However, during their research, KCA identified that the oxide ore noted in the table above also
contains zinc in quantities sufficient to affect the process flow sheet of the project. The study
must now address the presence of zinc to ascertain the impact on capital and operating costs. It
is now expected that the study will be completed in the first half of fiscal 2008. Although the
study is not yet complete, recent significant increases in the cost of mining and processing
equipment generally, together with recent increases in taxes imposed on mining companies in
Bolivia, have raised concerns regarding the viability of the UMZ project.
yogi...