St Andrew Goldfields Ord STADF

RE:RE:RE:RE:RE:RE:Primero will have to pay up now.

[cre8value]

curve- My point is that the stock price gets NO value for Aquarious. They spent $100 million for infrastructure on the freeze system. That is more than the entire market cap for SAS. The bulk project is highly dependent on the price of oil. If the price of oil is down, it will affect the other energy costs there including electricity.This project should get re-rated when the price of oil has fallen over 50%. Don't forget, there is high grade gold there because they mined it at 6.46 g/t. Why not use that 213m shaft and do some underground drilling to see what is really there. They have barely scratched the surface. Saying that it is all mined out is jumping the gun here. From 2007 release - President and CEO Glenn Laing on Aquarious - It will be largely bulk mining at a rate of 33-million tonnes of ore per year with a grade of 1.8 g/t Au, producing 5.1 million g of Au per year (180,000 oz) with a five-and-a-half-year mine life. “There is a $100 million of infrastructure in place there at the moment,” says Laing, “and a one million-ounce resource.” The high price tag is attributable to a project that enables the water surrounding the resource to freeze during the warmer season. The deposit sits along a large regional esker that acts as a major groundwater aquifer. To keep the pit dry, a brine solution is pumped into the wells to freeze the ground forming an ice curtain. As the largest in the world, according to Laing, it is like working in permafrost during the warmer seasons.