500,000oz per yr in 5 years ?Marc Davis: What’s your growth profile like for gold production or gold equivalent over the next several years?
Roland Horst:Orvana has an excellent board and they are very focused on strategy.The objective is to be producing 500,000 ounces of gold in 5 years.Next year will take us to 120,000 ounces of pure gold. If you look atgold equivalent, we’ll probably be closer to 200,000 ounces with thecopper production out of Bolivia.
We are also looking for more acquisitions and our VP CorporateDevelopment, Bill Williams, is actively looking. We are miners. We’remine developers and operators, not focused on exploration. We’relooking for late-stage, advanced gold projects in stable jurisdictions,preferably ones with a 50,000-100,000 ounce per annum capability, andresources of over one million ounces.
Meanwhile, we are looking at a debt facility to finance the $50 millioncapital cost at our property in Spain and that will leave us $40million on the balance sheet that we can use for acquisitions goingforward. We’ll also be generating cash flow for further acquisitions.